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- South African gold miner invests in "made in Lesotho" sushi
- Gold uptrend to resume, silver 'to rise faster' - Phillips
- From gold to green, Canadian juniors gone to pot
- Australian river of gold theory for Bendigo gold reef formation
- Hedge funds defy Goldman as gold bears thank Yellen
- 600t Singapore silver vault starting as demand climbs
- U.S. Money Market Rates Are Rising, Lending Dollar Support
- Commodities Today: Gold And Energy Drawing Investors' Attention
- Monex Precious Metals Review: Gold hits low of $1322, Silver $20.15
- India Set To Import Twice As Much Gold
- Gold’s Wall of Worry
- Gold’s Golden Cross Not Necessarily Positive Technical Signal
- Gold traders bearish?
- Gold Analysts Bearish This Week - Most Bearish Since 2009
- Gold And Silver Could Be In Trouble
- WHY THE ZEROHEDGE ANALYSIS OF CHINA’S GOLD BUYING IS WRONG
- Gold recovered from airport restroom
- Gold Analysts Bearish This Week – Most Bearish Since 2009
- Gold extends weekly loss after Fed signals rising interest rates
- Korea Exchange seeks cut of $3 billion illegal gold trade
- Precious Metals and the Dollar – What Is Real Money?
- Silver still unconfirmed medium term trend
- Gold resumes the bearish bias – Analysis - 24/03/2014
- GOLD: Remains Vulnerable Short Term
- Gold Spot Intraday: Turning Down.
- GOLD: Remains Vulnerable Short Term
- Gold stock Golden Cross signal looming
- US Dollar Technical Analysis – Attempting to Build Higher
- Failed breakout marks interim top in gold mining stocks
- CHARTS - Inflection Points In the Precious Metals and the Dollar
- Gold Completes Golden Cross
- Silver/Oil Correlation, Silver Refining, and Coins
- Zero Hedge is wrong about Chinese gold operations, Turk tells KWN
- Why the Zerohedge Analysis of China’s Gold Buying is Wrong
- Failed breakout marks interim top in gold mining stocks
- Time to sell Gold now: Leo Hamel Jewelry
- Gold stock Golden Cross signal looming
- Gold Price Performance After Golden Crosses In The Last 4 Decades
- Gold-Stock Golden Cross
- Gold and Silver Stocks Failed Breakout Marks Interim Top
- Top 10 nations stockpiling gold
- Koos Jansen On Why China is the Gold Manipulation Culprit!
- Maguire tells KWN about coordinated disinformation about gold
- Experts Still Wrong About Strong Upside Movement In Gold And Silver
- Gold Investors Weekly Review
- GOLDMAN: Here's Why Gold Is Going To Plunge Again This Year
- Lawrence Williams: Goldman's blinkered view on gold could be so wrong
- Gold Fund Investors Dig for Deals in the Mining Sector
- The Biggest Misconception: What’s the Tax Rate on Silver and Gold Bullion?
- India's Gold jewellery exports up first time this fiscal year
| South African gold miner invests in "made in Lesotho" sushi Posted: 24 Mar 2014 03:56 PM PDT Gold Fields hatches a trout harvesting project - from all places Lesotho - to export rainbow trout to Japan. |
| Gold uptrend to resume, silver 'to rise faster' - Phillips Posted: 24 Mar 2014 01:39 PM PDT Julian Phillips says the fundamentals for gold are strong to the upside and this is without the potential boost from the Ukraine. |
| From gold to green, Canadian juniors gone to pot Posted: 24 Mar 2014 01:24 PM PDT Sign of the times. A trio of Canadian have-been juniors dominate Venture volume with plans for medical marijuana. |
| Australian river of gold theory for Bendigo gold reef formation Posted: 24 Mar 2014 11:55 AM PDT Two University of Tasmania geologists have challenged orthodox thinking around the formation of the fabulously rich reefs that inspired the famous Australian gold rushes of the 19th century. |
| Hedge funds defy Goldman as gold bears thank Yellen Posted: 24 Mar 2014 09:40 AM PDT Goldman Sachs and Societe General can thank Janet Yellen for helping to get their bearish forecasts for gold back on track. |
| 600t Singapore silver vault starting as demand climbs Posted: 24 Mar 2014 09:26 AM PDT Supplier of coins and bars, Silver Bullion, plans to open a 600 metric ton vault in Singapore on the back on growing investor demand. |
| U.S. Money Market Rates Are Rising, Lending Dollar Support Posted: 24 Mar 2014 09:23 AM PDT US money market rates are rising today, extending the increase last week spurred on by the FOMC meeting and comments by Fed chief Yellen. The December 2015 Fed funds futures contract is implying an effective Fed funds rate of 85 bp. This is about 5 bp more than the market's initial reaction last week. At the extremes in January, the contract was implying about 88 bp. The December 2015 Eurodollar futures contract implies a yield of 1.22%. This is also about 5 bp more than seen last week. The high watermark, this year, was about 1.27%. This is translating into higher 2-year US yields, as well. The yield is about 11 bp higher than last week's lows and at about 45 bp is the highest since last September. It began the month near 30 bp. If one were to take the 8 bp of the Fed funds |
| Commodities Today: Gold And Energy Drawing Investors' Attention Posted: 24 Mar 2014 09:08 AM PDT There is a lot of attention being paid to the gold market today as the precious metal moves close to $1,300/ounce. We have seen a fresh move lower after a long and steady move higher off of the lows and our guess is that the bears have finally decided to test the bulls' resolve. It appears to us that the $1,300/ounce level will be the battleground and we should be given a glimpse into what the market has in store for the pricing of the commodity depending on which way it moves when reaching that benchmark. Natural gas prices are also drawing attention, but the correction there has been underway for some time and anticipated by many in the industry. When a commodity spikes higher on weather, it generally retreats not long afterwards and this was a point we have tried to stress during this past winter season. Chart of |
| Monex Precious Metals Review: Gold hits low of $1322, Silver $20.15 Posted: 24 Mar 2014 09:00 AM PDT Monex spot silver prices opened the week at $21.27 . . . traded as high as $21.42 on Monday and as low as $20.15 on Thursday . . . and the Monex AM settlement price on Friday was $20.33, down $.94 for the week. |
| India Set To Import Twice As Much Gold Posted: 24 Mar 2014 08:49 AM PDT It begins. This week, India allowed 5 private sector banks to import gold. The Reserve Bank of India (RBI) has allowed gold imports by HDFC Bank (HDB), Axis Bank (OTC:AXBKY), Kotak Mahindra Bank (OTC:KMBKY), IndusInd Bank (OTCPK:IDCBF) and Yes Bank (YESB.NS), officials at the respective banks told Reuters. This is major news because this will double the amount of gold imports to India from the current level. As you know, Indian gold imports were flat in 2013 due to the tax imposed on gold imports in August 2013. Imports have been sharply down more than 50% ever since. But now that these 5 Indian banks are allowed to import gold, we expect the Indian gold import number to double again to its previous levels. Monthly India Gold Trade (Koos Jansen: In Gold We Trust) Premiums have soared to more than |
| Posted: 24 Mar 2014 08:00 AM PDT
 The general tone of financial markets is tilting perhaps towards deflation. China is trying to slow monetary growth, leading to revised GDP forecasts, and possibly the end of her property bubble. To this we add the Fed’s monetary policy, which on the basis of last week’s FOMC meeting appears to be less inflationary in tone. [...] The post Gold's Wall of Worry appeared first on Silver Doctors. |
| Gold’s Golden Cross Not Necessarily Positive Technical Signal Posted: 24 Mar 2014 07:08 AM PDT An exciting major event is about to occur in the precious metals arena this very week and you will no doubt see many references to it and that is formation of Golden Cross. Gold bugs including me will be looking for this event to become the ignition for gold to rally to much higher ground. We will commence with a definition of a Golden Cross as defined by Stockcharts.com: A signal where the shorter moving average moves above the longer moving average. Usually, this term is associated with the 50-day moving average crossing above the 200-day moving average. There is also an opposite and negative event known as the Cross of Death; this is when the shorter moving average moves below the longer moving average, for example, the 50dma crossing below the 200dma. The Golden Cross
As we can see on the above chart a golden cross is about to be formed this week. However, before we bet the ranch on gold prices making a moon shot we might want to take a look at what happened when this cross appeared previously on the gold chart. It took place around September 2013 and as we can see things turned to custard with gold prices peaking and then falling from $1650/oz to $1200/oz in June 2014. This week's Golden Cross is occurring at a much lower level and should be very positive for gold, but don't count on it. The RSI has left the overbought zone and is heading south. The MACD has formed a negative crossover and is now also heading south. It should also be observed that gold prices managed to form a new 'higher high' recently but was unable to hold it for more than a few days, which is disappointing as it suggests weakness. The Precious Metals Mining Stocks If you take a quick look at the Gold Bugs Index, the HUI you can see that it more or less followed gold. In 2013 the HUI was standing at around the 500 level, it went on to fall to around the 200 level, slashing more than 50% off the value of the gold mining stocks, a gut wrenching experience for those who were heavily invested in this sector. Conclusion Technical analysis is not a perfect science and as investors we should not rely on any one indicator on which to predicate our trading strategy. Even when we have a situation where a number of technical indicators appear to be lining up with each other is it very important to have a good grip on the big picture and a good understanding of the fundamentals. The fallout from the Ukraine, Janet Yellen's tapering programme, the continuing purchases by the Chinese, to mention just a few, are all playing key roles in gold's progress. The gold market was a profitable sector to be invested in for over a decade or so, but the last two years this has not been the case, so great care and patience is now the order of the day. We are hunting for what we think are bargains in the mining sector in anticipation that the bottom may not be in yet and a final capitulation may still lie ahead of us. To that end we are largely in cash, but are buyers when we think that a stock has been sold off too aggressively and therefore offer us great value. Although I am not a big fan of the US Dollar it has to be noted that it did outperform gold, silver and the miners in 2013 by a long way We will keep most of our gun powder dry and wait until we are absolutely certain that this bear phase is over before adopting a more aggressive stance on the acquisition trail. We are weary of this bear phase and we will trade accordingly until this bear goes into hibernation. Got a comment, fire it in, especially if you disagree, the more opinions that we have, the more we share, the more enlightened we become and hopefully the more profitable our trades will be.
Bob Kirtley | bob@gold-prices.biz | www.gold-prices.biz |
| Posted: 24 Mar 2014 07:07 AM PDT Gold posts biggest weekly drop since November. |
| Gold Analysts Bearish This Week - Most Bearish Since 2009 Posted: 24 Mar 2014 07:02 AM PDT gold.ie |
| Gold And Silver Could Be In Trouble Posted: 24 Mar 2014 07:01 AM PDT It appears the easy money has been made off the 2013 lows and I just don`t know how much gas the metals have left. Up until today I was open to the idea that Gold has bottomed but if we don`t find support on near the daily RSI on gold then I think we`re heading back to the lows. It`s too early to make that conclusion as Gold will at least have an attempt to take our recent highs and if it fails there then it`s going to be tough for gold traders. If it breaks and closes above that level then this will likely trade up to the $1400-1460 range before any meaningful resistance.
Silver`s chart is just a mess and it`s difficult to discern any real pattern or price targets from this sloppy trading. Silver hasn`t confirmed this move in Gold and this is one of the reasons I`m leaning to the notion of the metals revisiting the lows.
You can mirror Jeff`s trades using Ditto Trade. To see his statistics and learn more click here. |
| WHY THE ZEROHEDGE ANALYSIS OF CHINA’S GOLD BUYING IS WRONG Posted: 24 Mar 2014 06:35 AM PDT
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| Gold recovered from airport restroom Posted: 24 Mar 2014 06:35 AM PDT Gold biscuits worth Rs 2.5 million recovered from airport lavatory in India airport. |
| Gold Analysts Bearish This Week – Most Bearish Since 2009 Posted: 24 Mar 2014 05:38 AM PDT Interestingly, there is talk of Japan exporting gold to London. “Japan’s fiscal year ends this month and some trading houses are closing their positions. They have exported their gold stocks to London, so there’s a bit of shortage in physical supply,” a dealer in Tokyo told Reuters. Today's AM fix was USD 1,322.00, EUR 960.34 and GBP 801.94 per ounce. Gold rose $5.90 or 0.44% Friday to $1,332.90/oz. Silver remained unchanged at $20.29/oz. Gold and silver were both down for the week at 3.48% and 5.23% respectively.
Gold fell a further 0.7% today after last week it posted its biggest weekly drop since November – down 3%. Gold traders and speculators have shifted their attention away from Ukraine, but palladium surged over $800/oz, its highest since August 2011 on concerns the standoff between major producer Russia and the West over Crimea could escalate. NATO’s top military commander said overnight that Russia had built up a “very sizeable” force on its border with Ukraine and Moscow, and may have Moldova in its sights after annexing Crimea. General Philip Breedlove, commander of U.S. and NATO forces in Europe, warned that Russian forces were amassing just to the east of Ukraine and are "very, very sizeable and very, very ready". The forces were sufficiently large to "run" over to Transnistria on Ukraine's south western border, he said. "Russia is acting much more like an adversary than a friend," he warned. Premiums for gold bars in Singapore and Hong Kong were unchanged from last week at $1 over spot London prices. In Tokyo, gold bars were offered at premiums of up to 25 cents to the spot London prices, higher than zero last week as supply tightened. Interestingly, there is talk of Japan exporting gold to London. “Japan’s fiscal year ends this month and some trading houses are closing their positions. They have exported their gold stocks to London, so there’s a bit of shortage in physical supply,” a dealer in Tokyo told Reuters. Bloomberg reports that gold analysts and traders are bearish on gold prices this week and the most bearish since 2009: Gold traders are the most bearish in more than four years after the U.S. Federal Reserve indicated they'll probably increase interest rates by the middle of next year, curbing demand for the metal as store of value. Sixteen analysts surveyed by Bloomberg News expect gold to fall next week, five are bullish and one neutral, the highest proportion of bears since July 2009. "Gold had become overbought after its surge to six-month highs and was due profit taking and a correction," said Mark O'Byrne, a director in Dublin at brokerage GoldCore Ltd., which has more than $200 million in bullion under management. "The abatement of tensions between Russia and the West has contributed to the pullback and momentum could lead to further falls next week." Gold is vulnerable to further weakness this week, after last week's sell off. However, from a contrarian perspective the degree of bearishness may suggest that gold's sell off is nearly over and gold could surprise to the upside this week – especially should geopolitical or other events lead to a renewed bout of risk off and safe haven gold buying. Most importantly, the fundamentals remains very sound and should result in higher prices in the coming months. Those intending allocating to bullion, should consider using the price pullback to accumulate on the dip and cost average into your bullion allocation. Special Investment Opportunity These are some of the lowest priced silver bars in the world. In order to avail of this great offer, call Daniel or Sharon today on +353 (0)1 632 5010 (IREL) , +44 (0)203 086 9200 (UK) or +1 (302) 635 1160 (U.S.) The 7 Key Allocated Bullion Storage Must Haves In order to own precious metal safely, there are a number of key must haves and we have compiled the absolute benchmark allocated gold storage must have list that will enable those seeking an allocation to bullion to evaluate potential bullion and more importantly storage partners. Educate yourself about the safest way to own bullion by reading the 7 Key Allocated Gold Storage Must Haves
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| Gold extends weekly loss after Fed signals rising interest rates Posted: 24 Mar 2014 02:51 AM PDT Gold extended its retreat on speculation that U.S. interest rates will increase next year. |
| Korea Exchange seeks cut of $3 billion illegal gold trade Posted: 24 Mar 2014 02:38 AM PDT South Korea's equity exchange has just started offering physical gold trades for the first time. |
| Precious Metals and the Dollar – What Is Real Money? Posted: 24 Mar 2014 02:06 AM PDT When the German Government asks for the gold it left with the US FED and was told by the FED it would take seven years to get their gold back should you be concerned? When Germany only gets a small part of the fraction of the gold they were promised should you be concerned? When the gold they get back is not the gold they left there for safe keeping but newly melted bars – should you be concerned? We here at www.preciousmetalsinvesting.com think you should be concerned. It seems apparent that the stories we have been told about the amount of gold stored in the Fed, Fort Knox and banks around the globe may not be true. What is money after all? For thousands of years money meant a stable source of value. To facilitate a medium of exchange money took the form of gold and silver that made trade, barter, and commerce possible. Dollars were merely claim checks giving the bearer the right to exchange their dollars for gold or silver that had a relatively stable value. However since the dollar was taken off the gold standard it is only backed by the full faith in the US government that it can be used to settle debts. But what value does the dollar hold? Has that value been stable over time? Data shows that the dollar is worth only 2% of the value that it had in the 1900′s. In this video they question of “What is Real Money” Is examined. Watch it and let me know what you think. |
| Silver still unconfirmed medium term trend Posted: 24 Mar 2014 02:00 AM PDT Commodity Trader |
| Gold resumes the bearish bias – Analysis - 24/03/2014 Posted: 24 Mar 2014 01:25 AM PDT economies |
| GOLD: Remains Vulnerable Short Term Posted: 24 Mar 2014 01:25 AM PDT actionforex |
| Gold Spot Intraday: Turning Down. Posted: 24 Mar 2014 01:20 AM PDT forexyard |
| GOLD: Remains Vulnerable Short Term Posted: 24 Mar 2014 01:20 AM PDT stock-trkr |
| Gold stock Golden Cross signal looming Posted: 24 Mar 2014 01:15 AM PDT resourceinvestor |
| US Dollar Technical Analysis – Attempting to Build Higher Posted: 24 Mar 2014 01:10 AM PDT dailyfx |
| Failed breakout marks interim top in gold mining stocks Posted: 24 Mar 2014 12:50 AM PDT resourceinvestor |
| CHARTS - Inflection Points In the Precious Metals and the Dollar Posted: 24 Mar 2014 12:50 AM PDT goldseek |
| Posted: 24 Mar 2014 12:00 AM PDT Charleston Voice |
| Silver/Oil Correlation, Silver Refining, and Coins Posted: 23 Mar 2014 11:00 PM PDT Charleston Voice |
| Zero Hedge is wrong about Chinese gold operations, Turk tells KWN Posted: 23 Mar 2014 10:32 PM PDT GATA |
| Why the Zerohedge Analysis of China’s Gold Buying is Wrong Posted: 23 Mar 2014 09:05 PM PDT
 The stench of a well-trodden cow pasture is emanating from the Zerohedge article which tries to blame the decline in the price of gold during 2013 on China's use of a complicated commodities financing structure. Long time readers know that I always give ZH credit for digging up a lot of information and news [...] The post Why the Zerohedge Analysis of China’s Gold Buying is Wrong appeared first on Silver Doctors. |
| Failed breakout marks interim top in gold mining stocks Posted: 23 Mar 2014 07:29 PM PDT A false breakout in gold and gold stocks likely leads a major correction in both. |
| Time to sell Gold now: Leo Hamel Jewelry Posted: 23 Mar 2014 06:51 PM PDT Although the future of gold prices never certain, Leo Hamel Jewelry and Gold Buyers urges those customers who are considering selling gold to come in now, as 2014 has just seen its topmost peak of the year thus far. |
| Gold stock Golden Cross signal looming Posted: 23 Mar 2014 06:47 PM PDT The Golden Cross is one of technical analysis' most powerful signals. Here's what it means for gold stocks. |
| Gold Price Performance After Golden Crosses In The Last 4 Decades Posted: 23 Mar 2014 03:14 PM PDT This article is based on the latest premium edition of the Sentimentrader report (click here for a free trial). Market sentiment towards gold and silver are analyzed and put into perspective. Gold’s daily chart is currently showing its 50 day moving average crossing over its 200 day moving average. In technical analysis, this situation is known as a “golden cross”, as it marks an uptrend.
Commonly, the golden cross confirms a new uptrend. One should expect a golden cross to be good news. While we are not saying the opposite, we only point out that not all similar cases in the past have turned out to be very profitable for gold. Readers know that our focus is to bring unbiased news and analysis. In that respect, the following research, based on facts and figures, should bring an unbiased view on the history of gold’s golden crosses. From Sentimentrader:
This is not to say that gold will inevitably move lower in the days and months ahead. We only point out that history has shown that a golden cross has mostly not resulted in significantly higher prices, except in some exceptional cases. On the other hand, the correction of the last two years has been rather exceptional, which is in favor of at least a technical recovery of gold. So the signals are mixed for the time being. It is critical to monitor the reaction of technical and sentiment indicators on ongoing price evolution in the weeks and months ahead. Readers can monitor market sentiment by subscribing to the Sentimentrader report (click here for a free trial). |
| Posted: 23 Mar 2014 11:00 AM PDT
 The gold-mining sector is on the verge of flashing the fabled Golden Cross buy signal. This is one of the most powerful and revered indicators in all of technical analysis. When it arrives after the right conditions, it flags the critical transition from bear to bull markets. And today's gold-stock environment is perfect to spawn [...] The post Gold-Stock Golden Cross appeared first on Silver Doctors. |
| Gold and Silver Stocks Failed Breakout Marks Interim Top Posted: 23 Mar 2014 12:05 AM PDT marketoracle |
| Top 10 nations stockpiling gold Posted: 22 Mar 2014 09:04 PM PDT GATA |
| Koos Jansen On Why China is the Gold Manipulation Culprit! Posted: 22 Mar 2014 07:35 PM PDT
 Asian gold demand expert Koos Jansen joins the show this week to discuss why: In the End, Everyone Will Rush to Gold! Gold Will Rise to At Least $1600 in 2014 on Chinese demand Gold to replace US dollar as global reserve currency Cartel smashes metals on FOMC taper, but gold completes “Golden Cross” Friday [...] The post Koos Jansen On Why China is the Gold Manipulation Culprit! appeared first on Silver Doctors. This posting includes an audio/video/photo media file: Download Now |
| Maguire tells KWN about coordinated disinformation about gold Posted: 22 Mar 2014 04:02 PM PDT GATA |
| Experts Still Wrong About Strong Upside Movement In Gold And Silver Posted: 22 Mar 2014 02:00 PM PDT From our perspective, the charts reflect the reality of the unreal within the ruling Western elites that continue their financial stranglehold over every Western government, at a minimum, and through their central banks dictating how governments are to rule the governed, aka those enslaved into the system. [We will deal with how charts are the best read, later in the commentary]
Have you ever wondered why there are so many wars, why people cannot just "get along?" The Rothschilds see to it that dissent is fostered and civil unrest is encouraged, eventually leading to war. There is no country on earth that has been responsible for more wars and promoting them than the elite-controlled, puppet-run United States. The list, starting from the Korean war and Viet Nam, to present times is appalling but purposeful. If it were not for Putin, Obomba would have promoted his [yet another] false flag chemical use against civilians as reason for bombing Syria. That door politically foreclosed on him, Netanyahu has picked up the mantel. Israel may not go too far, for it has some gas deals with Russia, and it would be bad economics to keep pushing against Syria. "Give me control of a nation's money, and I care not who makes the laws," was not some idle boast on Rothschild's part. He literally began controlling governments. Once in control of governments, lending to controlling influences, through licensing, like the news media, the medical industry, communications, drug industry, education, the military, the web of money was all-controlling. What makes the Rothschild formula so successful is that it became systematized. In every sphere of influence Rothschild "agents" were present and an integral part of how things functioned, always in furthering the financial ends of the family empire, and nothing was more controlling than the banking system. This was how the United States was gutted from within. First came the installation of the Federal Reserve in 1913, then the IRS in 1916, neither of which pass organic Constitutional muster, but the organic Constitution was replaced by a mirror federal constitution, written to favor the Rothschild interests. This is the Rothschild's For Dummies abbreviated version of a very complex, very devious takeover of the world. In every instance, when the Rothschild's loaned governments cash or its equivalent, gold was demanded as payment in return. If there were not enough gold, silver was also acceptable. When both ran out, control of the financial arm of the government, [the money supply], came next. Once control of every part of finance was under control, then came control of everything else. The love of money is the root of all evil, and evil reigns. All Western governments are criminal enterprises, and none more so than the United States, exporting its perverted form of "democracy," [debt at the barrel of a gun...not just a gun, invasions, tanks, drones, torture, every imaginable form of black-ops to create civil unrest...snipers in the Ukraine killing both sides, as a current example].
Whenever a country is invited into the EU web, that country's onerous debt is compounded with even more, impossible to repay debt. What then follows are "austerity" programs, and now bail-ins, and for what? To save the insolvent banking system that created the disastrous financial, derivative-laced problems to begin with. Who elected the people in control at the IMF? The BIS? The EU? No one. They represent no one. They are all agents in the service of the Rothschild elites, and their only mission is to gain absolute control over all of the money and over every citizen within the criminally corrupt web of Western governments. Ukraine has nothing to do about "spreading democracy." It is all about control over energy sources, especially the flow of natural gas to Europe. The West has been at growing risk of losing its fiat "petro-dollar" control as the East, along with its resource riches and rising gold reserves, positions itself to take over. Who is leading the charge from the West? Once again, the Nobel Peace Prize recipient is pounding on the undertone drums of war, from half-way around the world, and with no skin in the game.
When the deal between China and Russia is finalized, it will be another nail in the coffin of the fiat "petro-dollar," for the "dollar" will not be a part of the deal. It continues to be exit stage left for the waning US influence. Hard to decide: no more debt-driven activity from the West versus offers of more lucrative international trade from the East? These Western sanctions from the dumber-than-dumb West must really have Russia concerned. Even more! The G-8 nations want to impose sanctions, as well. 7 of those 8 Western nations are essentially insolvent.
Everything has been revolving around gold, and the West has played a losing hand. Its ace in the hole is what we referenced as "the system." The West has had its bluff called, over gold, and it has folded, much like the paper exchanges, COMEX and LBMA are. Paper-covers-rock may win in the Rock, Paper, Scissors game, but in real life, using debt paper to cover over the loss of golden rocks does not work. If the East has gained control of the gold, and the West is essentially insolvent to its core, why aren't gold and silver finding a higher level that, at a minimum, would reflect a simple adjustment for inflation for the past few decades? The Rothschild influence and control of the world's [all fiat] money, its total control over the governments of the West, except those within the BRICS sphere, is so pervasive that it has to have some degree of tie-in even with the independently driven countries like China, India, and now much less so with Russia, as Putin has tired of Obama's utter pettiness. The war for resource control is what is influencing the price of gold and silver, and for as long as the West can influence events around the world, it will continue to be more than a thorn in the side of the East, and gold and silver will continue to seek a bottom. Amidst the sometimes "wildly" bullish attitudes toward gold, from a number of experts, so-called or self-professed, gold has not made any strong inroads on the weekly chart, a time frame more indicative of overall stronger buyers and sellers. Bearish spacing remains intact, and the current price swing high has stopped under the last swing high. If it were pure fundamentals driving the price of gold, it would be at much higher levels. If it is not fundamentals driving the market, then the most likely reasoning has to be something along the lines we have discussed. Whatever it is, however perverted the paper markets have become, even manipulated markets that are going to fail will begin to show signs of failure before the reality sets in. We see nothing in the charts that indicates an end to the grasp of the Rothschild ilk.
The daily trend is up. The current correction just erased the effort of the past 3 weeks. Of the 4 selling bars, the last was the smallest in range with an upper end close and at an area of support. The volume was relatively high, under the circumstances, and it indicates buyers were more in control than sellers. Fridays weak rally was still a higher high, low and close from the previous one. If the trend is to remain intact, gold should renew it upward momentum. If not, then adjustments will be in order to suit the new information from the market.
The chart comments say it all. We normally do not include intra day charts, but this does show a lack of strong selling volume as price moved sideways over the last 3 days.
Many articles have been written about the explosive potential for silver, and at some point, it may happen, but for now, silver is languishing at the lows, and it gives no signs for a potentially strong move to the upside. All anyone has to do is look at this chart and draw one's own conclusion.
Where daily gold is in an up trend, daily silver is not. Looking at silver in the most positive light, from a chart read, it is at support, and it is in an oversold condition while at support. The combination may give rise to a rally, in the days ahead. However, if silver were to rally next week, it would still be viewed as a rally within a down trend. $50, $100, $200 silver? It cannot clear its way above $22. How do the experts reconcile that with so much "rosy" enthusiasm? We like silver, but one has to be a realist and deal with what is. Accumulation of the physical is highly recommended, as is personally holding it, outside of any banking system.
Even the intra day trend for silver remains down. There are several points to be made for positive behavior as this metal continues to bottom, but at some level, it should begin to "show its hand," if there is the underlying strength so many maintain.
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| Posted: 22 Mar 2014 08:11 AM PDT In his weekly market review, Frank Holmes of the USFunds.com nicely summarizes for gold investors this week's strengths, weaknesses, opportunities and threats in the gold market. Gold closed the week at $1,334.21, down $48.84 per ounce (3.53%). The NYSE Arca Gold Miners Index lost 8.05% on the week. This was the gold investors review of past week. Gold Market StrengthsA recent survey by the Silver Institute shows that 73% of U.S. jewelry retailers reported increased silver sales in 2013. Furthermore, 92% of the retailers said they are optimistic that the current silver demand growth will continue for the next several years. Mineweb reports the Indian government eased import regulations to allow some of the country's private sector banks to buy gold from abroad in a move that could boost gold imports in India and bring down physical premiums considerably. The Reserve Bank of India has allowed five private sector banks to participate in the import programs, as the country seeks to prevent the flow of illicit money and smuggled gold ahead of the primary elections this year. In the platinum group metals space, platinum and palladium have benefitted from platinum strikes in South Africa, as well as the threat of sanctions in Russia, the world's main palladium producer. Standard Bank is seeking to profit from the instability by launching palladium and platinum ETFs to be listed on the Johannesburg Stock Exchange. Gold Market WeaknessesGold fell after the Federal Reserve indicated that it will raise interest rates next year. The Fed's tone was deemed as being more hawkish than expected, which contributed to a sharp rise in the dollar. As a result, gold traders turned bearish with a majority of them expecting gold to fall next week. U.S. domestic mine gold production in 2013 has dropped 3 percent, or 128,602 ounces, from the prior year, according to estimates released by the U.S. Geological Survey. Production coming from the states of Nevada (the U.S. gold output leader), Arizona, and California decreased in 2013. A Wall Street Journal article shows European central banks may end a 15-year-old restriction on sales of their gold holdings. Under the agreement, central banks were limited to selling a maximum of 400 tonnes over a five-year period. According to a Bundesbank board member, the agreement may not be extended because over the past five years central bank gold sales have decreased significantly, making the policy unnecessary. Gold Market OpportunitiesOn Thursday, gold recorded a golden cross when the 50-day moving average crossed above the 200-day moving average. A golden cross is traditionally associated with the breaking of a bear market trend and the beginning of a bull market, where the 200-day moving average becomes a support level in the rising market. Our analysis shows that, going back to 2000, a golden cross in gold has been followed on average by a 50 percent rally lasting on average 15 months.
David Rosenberg, Gluskin Sheff's Chief Economist, is of the opinion that the Fed appears to be looking at inflation in the rear-view mirror, not through the front window as it should be. Rosenberg agrees that inflation appears benign today; however, the signs of imminent rising inflation cannot be ignored any longer. According to Rosenberg, the National Federation of Independent Business plans to raise selling prices, which has a 70 percent correlation with inflation. In addition, the non-financial commercial paper lending has exploded at a 43 percent annual rate, not a particularly deflationary statistic. As a result, Rosenberg believes we have no "anchor" to hold inflation back. Michael Gray, head of Macquarie Mining Research in Canada, commented on the newfound energy of the gold space in an interview with The Gold Report. According to Gray there are three reasons to believe the sector has turned a corner: (1) few people expected gold prices to rise so quickly into 2014, (2) the environment is fertile for equity deals and M&A transactions, and (3) Goldcorp's bid for Osisko effectively removed an overhang. In addition, Dennis Gartman, one of the most senior and widely-respected newsletter writers, remains bullish on gold, arguing the curtailing of production by senior miners signals the end of the bear market. Gold Market ThreatsGoldman Sachs' head of Commodities Research Jeffrey Currie has reiterated his view that gold will fall to $1,050 by the end of the year, leading numerous analysts and investors to question his conclusions. According to Currie, gold's rally this year has been driven by unsustainable factors, such as the weather-induced slowdown in the U.S., increased geopolitical tensions, and Chinese credit concerns. According to Lawrence Williams, a Mineweb contributor, Currie has avoided any comment related to the continued strength of Asian physical buying and the decided reversal of ETF redemptions, the two most important gold drivers of 2013. As a result of the speculation on Chinese commodity trade financing in copper and iron ore unwinding due to capital tightening, UBS published a report on gold-trade financing. In conversations with market participants, UBS has found evidence that gold is also being used for trade finance, albeit to a small degree. This is because gold has proven harder to use for financing as it is more closely monitored by regulators, and its value makes storage arrangements more complicated and costly. JPMorgan Chase announced the sale of its physical commodities trading unit to the Mercuria Energy Group. The move was announced as Wall Street Banks are moving out of the commodities trading business to avoid tighter scrutiny by regulators who are currently investigating price fixing allegations. Morgan Stanley and Deutsche Bank have announced similar moves in recent weeks. These transactions, however, are shifting the commodities trading business into the even less regulated market of private companies, at a time when the sector has seen consolidation. The end result likely will be a market with fewer players and less transparency – hardly desirable for commodities producers. |
| GOLDMAN: Here's Why Gold Is Going To Plunge Again This Year Posted: 22 Mar 2014 05:28 AM PDT  GOLDMAN: Here's Why Gold Is Going To Plunge Again This Year One of the star performers of 2014 has been gold. It started the year around $1,200/oz and recently nearly got to $1,400/oz before slipping back a bit. In a new note, Goldman argues that the rise in gold has been driven by three unsustainable factors: Weather-induced economic slowdown in the U.S., a spike in Chinese demand due to credit concerns, and increased geopolitical tension. The firm argues that all of these tailwinds will fade and that gold will hit $1,050 this year. This is such drivel, but if someone at Goldman Sachs say it, then it must be true. It will be a frosty day in July [in the northern hemisphere] before gold ever gets anywhere near that price. This "news" item was posted on the businessinsider.com Internet site in the wee hours of Friday morning EDT---and I thank reader Scott Pluschau for sending it along. |
| Lawrence Williams: Goldman's blinkered view on gold could be so wrong Posted: 22 Mar 2014 05:28 AM PDT  Lawrence Williams: Goldman's blinkered view on gold could be so wrong Goldman Sachs’ head of commodities research Jeffrey Currie is at it again. The man who not so long ago described gold as a 'slam dunk sell' is reiterating his prediction that gold will fall back to $1,050 this year despite the metal’s stellar performance so far. While Currie’s academic qualifications for making these kinds of predictions are probably far better than those of this writer, we think his very vocal pronouncements are misguided and potentially have a degree of self-fulfillment given the regard with which Goldman Sachs is held in the financial sector; damaging to the gold market in itself. While Currie is obviously entitled to his viewpoint we are not sure that stating these views in such aggressive terms is wise. If he proves wrong – and those who’ve followed his advice so far this year may already feel badly served – he is left with a vast amount of egg on his face, and his subsequent commodity price predictions will be largely discounted. Personally I feel he might be wise to be a little more circumspect in his comments, but perhaps they are necessary to balance the views of the ultra gold bulls who are even more vocal in predicting enormous gold price increases ahead. This commentary by Lawrie was posted on the mineweb.com Internet site sometime yesterday---and I found it there just before I hit the send button on today's column. |
| Gold Fund Investors Dig for Deals in the Mining Sector Posted: 22 Mar 2014 05:28 AM PDT  Gold Fund Investors Dig for Deals in the Mining Sector Gold has been a highly coveted asset for millennia, but its appeal lately has been intermittent at best. The price of gold has climbed about 11 percent in 2014 through March 19, but is still 29 percent below the all-time high of $1,895, set in 2011, after a dismal run last year. Investors could have done worse — by investing in mining stocks, which lost about two-thirds of their value during the decline in the price of gold. Running a fund that concentrates on mining stocks is difficult amid such a backdrop, but John Hathaway, lead manager of Tocqueville Gold, and Joseph Foster, manager of Van Eck International Investors Gold, have done it better than most. Hathaway's fund was recognized at the 2014 U.S. Lipper Fund Awards in New York on March 20 as the best precious-metals fund for the second straight year and for its five-year performance. The Van Eck fund was honored for its 10-year results. The managers highlight several reasons for the decline in gold, including reduced inflation expectations and a heightened appetite for risk that made hedging against disaster an afterthought. This Thomson/Reuters piece showed up on the moneynews.com Internet site early yesterday morning---and it's courtesy of West Virginia reader Elliot Simon. |
| The Biggest Misconception: What’s the Tax Rate on Silver and Gold Bullion? Posted: 22 Mar 2014 05:28 AM PDT  The Biggest Misconception: What's the Tax Rate on Silver and Gold Bullion? Well, it’s that time of year again. While many of you may have filed your taxes weeks ago, others are sifting through piles of forms, trade confirmations and receipts to makes sure you have everything accounted for on that 1040. The last thing you need is uncertainty about your obligations under IRS codes for the reporting of gains or losses on any physical gold and silver bullion you own. This article will help you weave through the complexities of the rules and regulations, and help you figure out the solution best for you. **Disclaimer: We are not tax professionals. The information here is for the purpose of learning more about how the rules work and give some general examples of how different actions you may have taken throughout the year affect your individual tax situation. Remember, tax issues are often very specific to your individual situation…so as necessary, reach out to a professional for help. This very interesting commentary is obviously directed at U.S. citizens wherever in the world they happen to be---and it's a worthwhile read if this topic concerns you. It was posted on the silversaver.com Internet site on Tuesday---and had to wait for a spot in today's column. |
| India's Gold jewellery exports up first time this fiscal year Posted: 22 Mar 2014 05:28 AM PDT  India's Gold jewellery exports up first time this fiscal year India’s export of gold jewellery rose 1.04 per cent in February, rising for the first time in fiscal 2013-14. According to figures from the Gem & Jewellery Export Promotion Council (GJEPC), cumulative gold jewellery exports from April 2013 to February 2014 fell 45.6 per cent to $6.352 billion. Exports of gold jewellery have taken a beating in 2013-14 with the government imposing restrictions on the import of gold in a bid to control the current account deficit (CAD) resulting in very limited gold supplies. The measures included higher import duty of 10 per cent on gold and an 80:20 scheme which made it mandatory for gold importers to export a fifth of the gold imported. Speaking to The Hindu, Pankaj Parekh, Vice-Chairman, GJEPC, said “The blame for poor availability in the market would have to be on the Customs Department. There have been inordinate delays in releasing consignments of imported gold”. This short article was posted on thehindu.com Internet site very late Friday evening IST---and I thank reader M.A. for his final offering in today's column. |
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