Gold World News Flash |
- Gold Sloppy Until July; FOMC On Deck
- Charles Nenner : War, 2014 Dollar Collapse, Gold Could Go Parabolic and More
- Gold Prices Will Rise on Robust Demand and Instensifying Currency War
- Gold Strengthens & Financial Stocks Deteriorate
- German TV network broadcasts long program on gold market manipulation
- Interviews with Eric Sprott and USAGold's three market analysts
- The Elephant in the Room Just Stepped on Another GOLD RIGGER
- China Is A Direct Threat To The Dollar So U.S. Charges China With Cyber-Espionage
- Peter Schiff: The Belgian connection
- German TV Exposes "Gold Price Manipulation Fit For A Financial Thriller"
- Is wine next target of price suppression by central banks?
- North Korea: A Peek Behind the Iron Curtain
- Silver and Gold Prices Up Slightly with the Gold Price Closing at $1,294.60
- Silver and Gold Prices Up Slightly with the Gold Price Closing at $1,294.60
- China Is A Direct Threat To The Dollar So U.S. Charges China With Cyber-Espionage
- Gold Daily and Silver Weekly Charts - Life Is a Cabaret
- Gold Daily and Silver Weekly Charts - Life Is a Cabaret
- Central banks have markets in lockdown, Embry tells KWN
- Gold Price In The Post-Nixon Era
- Why the SEC Wants to Prevent You from Making Huge Gains
- Gold Prices Will Rise on Robust Demand and Instensifying Currency War
- In The News Today
- Lies, Inflation, and the Minimum Wage
- German TV network broadcasts long program on gold market manipulation
- Technical analysis versus value in gold
- May The Interest Rate Rise With You
- Forex Trading - AUD/USD Double Trouble
- London’s precious metals fixes fixable?
- Bank jurisdiction key in gold storage – Phillips
- Despite gold curbs, jewellers manage record exports
- Latest ECB gold sales agreement raises questions
- Byrnecut wins DeGrussa copper-gold underground mining contract
- Turkish court arrests 8 in mine investigation, including CEO
- Gold Demand "Firm Long-Term" But Perception of "Good Times" Weighs on Investor Buying & Scrap Supply
- Gold Price - A 40 Year Perspective
- Gold, Stocks and Crude Oil Heading Lower
- Gold Price Bearish Reversal Ahead
| Gold Sloppy Until July; FOMC On Deck Posted: 21 May 2014 12:30 AM PDT from KitcoNews: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Charles Nenner : War, 2014 Dollar Collapse, Gold Could Go Parabolic and More Posted: 20 May 2014 11:20 PM PDT On the U.S. dollar, renowned financial analyst Charles Nenner predicts, "Timing is our business, and we've always said the dollar is going to collapse in end of 2014.There are different reasons for this. The government has loans outstanding that are very short term. If interest rates only go... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Prices Will Rise on Robust Demand and Instensifying Currency War Posted: 20 May 2014 10:00 PM PDT by David Levenstein, Gold Silver Worlds:
Meanwhile reports show that the Chinese are buying less gold this year and demand during the Golden Week holidays that began on 1 May dropped some 30% from a year ago. After an exceptional year for gold sales in 2013, the situation is back to something like 2012, according to Haywood Cheung, president of the Chinese Gold & Silver Exchange Society. While China surpassed India as the biggest bullion consumer last year, the buying frenzy, triggered by a price slump last April has not been repeated this year. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Strengthens & Financial Stocks Deteriorate Posted: 20 May 2014 09:00 PM PDT Graceland Update | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| German TV network broadcasts long program on gold market manipulation Posted: 20 May 2014 08:40 PM PDT by Chris Powell, GATA:
Gold researcher and GATA consultant Koos Jansen today calls attention to a long broadcast about gold market manipulation made this month on the German-language television network 3sat, which serves Germany, Austria, and Switzerland. The broadcast came on the 3sat program “Makro” and focused on recent complaints about the daily London gold fixings. It quoted market analyst and GATA consultant Dimitri Speck and Hong Kong fund manager William Kaye, who is frequently interviewed by King World News about gold market manipulation. The program does not seem to have gotten much into central bank involvement in the market manipulation, but questions are raised about Germany’s gold reserves vaulted abroad, so this may have been a good start. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interviews with Eric Sprott and USAGold's three market analysts Posted: 20 May 2014 08:05 PM PDT 11:05p ET Tuesday, May 20, 2014 Dear Friend of GATA and Gold: With gold and silver supplies tight and premiums for real metal strong in China, India's return to the gold market soon could be decisive, Sprott Asset Management CEO tells Sprott Money News in a 10-minute audio interview here: http://www.sprottmoney.com/sprott-money-weekly-wrap-up Over at Centennial Precious Metals in Denver, market analysts Peter Grant, Jonathan Kosares, and George Cooper discuss, among other things, the latest gold manifesto by the European central banks. Video of the discussion runs a half-hour long and can be viewed at Centennial's Internet site, USAGold.com, here: http://www.usagold.com/video/20141905.html CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Safe and Private Allocated Bullion Storage In Singapore Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore. Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com. Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.com. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Elephant in the Room Just Stepped on Another GOLD RIGGER Posted: 20 May 2014 07:42 PM PDT [Ed. Note: That sound you hear in the distance? It's the dominoes falling. Recall this: Barclays, Deutsche Bank Accused of Gold Fix Manipulation] by Bix Weir, Road to Roota:
With the mass exodus of gold and silver “traders” from the London Fix naturally people are of course wondering about the ramifications of ENDING the “Silver Fix” in August and most likely the Gold Fix soon after. Right? You are wondering about that Right? It keeps you up at night Right? Well, if you aren’t you SHOULD BE. I guarantee you that Jeffrey Christian is up all night…every night worrying about what’s going to happen. You see, the Gold and Silver Fix are more than just numbers posted in the financial news outlets every day. They are “Benchmark Numbers” defined in every complicated gold and silver derivative contract written in the last 50 years! They are a main operating component of TRILLIONS of dollars worth of gold and silver derivatives. Many very, very complex derivatives created and promoted by the likes of Goldman Sachs starting in the 1980′s by Robert Rubin and none other than Jeffrey Christian. They keep the gold and silver prices in check and they are a REQUIRED PART of the current un-backed fiat monetary system.
And they were all contingent upon the “London Fix”. That is/was the ONLY physical gold and silver proxy price around the world and that is what is defined in almost every gold and silver derivative contract written…including integrated into the massively complex and complicated monetary swap agreements. (And no they can’t use the COMEX prices because those are point in time futures and options contracts…NOT a physical proxy.) The death of the London Fix is leaving a gaping hole in the legal structure of gold and silver derivatives. So far, there have been no alternatives put forth….and even if there were what Counter Party in their right mind that is on the losing side of the derivative agreement would want to legally change the terms of their contract? The situation is totally FUBAR and the criminals involved in the gold and silver rigging know it. That’s why they are running for the hills! May the Road you choose be the Right Road. Bix Weir | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| China Is A Direct Threat To The Dollar So U.S. Charges China With Cyber-Espionage Posted: 20 May 2014 07:40 PM PDT from X22Report: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peter Schiff: The Belgian connection Posted: 20 May 2014 06:24 PM PDT 9:30p Tuesday, May 20, 2014 Dear Friend of GATA and Gold: Fund manager Peter Schiff today casts suspicions on Belgium's supposed purchase of $215 billion of U.S. Treasuries since last August, a figure about half the size of the little country's gross national product and $20,000 for each Belgian. Schiff concludes that all this is likely the mechanism by which the European Central Bank is returning the Federal Reserve's favor in 2011 of surreptitiously rescuing European banks, with "Belgium" now buying the U.S. bonds whose purchase the Fed purports to be discontinuing. Whatever is happening here, it is more evidence that Western central banking is essentially the cosmic deception and destruction of markets and of democracy itself, something that by comparison makes the old Nazi Reichsbank look like a model of transparency and accountability. Schiff's commentary is headlined "The Belgian Connection" and it's posted at his radio program's Internet site, Schiff Radio -- http://www.schiffradio.com/b/The-Belgian-Connection/-383600028093290326.... -- and at 24hGold here: http://www.24hgold.com/english/news-gold-silver-the-belgian-connection.a... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Silver mining stock report for 2014 comes with 1-ounce silver round Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| German TV Exposes "Gold Price Manipulation Fit For A Financial Thriller" Posted: 20 May 2014 05:46 PM PDT While we have done our best to expose the utterly disgusting manipulation that occurs day-in-and-day-out in the precious metals markets over the last few years (how the "fix" is manipulated, who is responsible, and the blowback from European investigations), but mainstream US media remains actively ignorant of exposing these realities (even as another 'gold-"fixer"' gets the ax today). But not the Germans. As the following brief documentary exposes "an examination of gold prices reveals machinations fit for a financial thriller." With the Germans still wanting their gold back, we suspect this German TV documentary explaining the "lack of oversight.. and serious manipulations of the gold price," will stir up more than a little public concern about ever getting it back.
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| Is wine next target of price suppression by central banks? Posted: 20 May 2014 05:02 PM PDT And could vineyards be any more oblivious than gold mining companies? * * * The Best Investment of the 20th Century? Red Wine From News Services http://www.telegraph.co.uk/finance/personalfinance/investing/10844896/Th... Forget government bonds, fine art and even stamps: Red wine outperformed them all over the 20th century. At least that is what research by a team of academics from the University of Cambridge, HEC Paris and Vanderbilt University, Nashville, Tennessee, shows. The Warren Buffetts of the fine wine world could have earned annualised real returns of 4.1 percent from 1900 to 2012, beating government bonds, fine art, and stamps, though British equities would have given annualized returns of 5.2 percent. ... Dispatch continues below ... ADVERTISEMENT Jim Sinclair plans gold investing seminar in Denver on June 21 Gold advocate and mining entrepreneur Jim Sinclair will hold his next gold investing seminar from 2 to 6 p.m. on Saturday, June 21, at the Holiday Inn & Suites at Denver Airport, 6900 Tower Road, Denver, Colorado 80249. Admission will be $100. For more information, please visit: http://www.jsmineset.com/qa-session-tickets/ "You would have done nowhere like as well as equities but the returns are surprisingly high compared with the returns on cash or bonds," Elroy Dimson, visiting professor at the Cambridge Judge Business School, said. "Life is a little unfair and wealthy people who buy these assets -- in this case wine -- if they keep half to drink and sell half, maybe the half they sell could pay for the half they drink," he said. The research crunched the data from 36,271 transactions for five red Bordeaux wines -- Haut-Brion, Lafite-Rothschild, Latour, Margaux, and Mouton-Rothschild -- from the sales rooms of Christie's auctioneers and wine merchant Berry Bros & Rudd. Annualized real returns over the same period on British government bonds were 1.5 percent, 2.4 percent on art, and 2.8 percent on stamps, according to data quoted in the research. So did the academics get to try the Premiers Crus Bordeaux, which can fetch L8,000 ($13,500) a bottle, as part of their research? "No. Come on. They are L8,000 a bottle. ... They are for Chinese millionaires not for humble academics," said Mr Dimson. Mr Dimson used the example of port, which underperformed fine red wine over the century, to caution that drinking fashions can change dramatically over time. But he did have one bit of advice for tippler-investors planning for the next century. "Fine whisky may be the coming thing," he said. Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| North Korea: A Peek Behind the Iron Curtain Posted: 20 May 2014 04:46 PM PDT By: Mark Wallace at http://capitalistexploits.at/ North Korea is a country you won't find in a Lonely Planet Guide. The Western media is universally negative on the place, and mostly for good reason. It's run by a dictator who thinks he's a god amongst men, arguably insane, definitely cruel and vindictive. Cross him and you could end up being torn apart by starving dogs, blown apart by an RPG, or torched with a flame thrower. We've been following the country, albeit from a safe distance, for the last few years. Our colleague Kevin Virgil of Pathfinder Capital is fascinated by the place. Kevin has graced these pages many times over the past several years, with posts like: Libya – The Real Story and Why Libya. He's also co-authored an excellent white paper on investing in Frontier Markets, "Introducing the I-3?, which you can download here. Kevin attended West Point and was an Army officer for several years. He served with the 82nd Airborne Division and the Ranger Regiment. He's also served with the US State Department, which afforded him the opportunity to live and work in Russia, Western Europe and Central Africa. More recently, he was an investment banker in New York and an emerging markets equities trader in London. Those experiences, coupled with a passion for travel to developing countries, have all played a part in his current activities – namely, to find and participate in some of the most exciting investment opportunities available today, now via his own firm, Pathfinder Capital. We'll be hearing a lot more from Kevin and his partner Christopher Kyte going forward. They are now partnered with us on our EmergingFrontiers.com website, which we hope to build into the premier online destination for information on emerging and frontier markets. Let us know what you think about Kevin's thoughts on North Korea… -----
----- On Thursday we'll get a perspective on South Korea from our colleague Miha, who has spent the last couple months in the country. He'll contrast what he's seeing on the ground in South Korea, to what Kevin and others have observed on the North. It should be an interesting post, with some great photos. - Mark
"It's starting to get serious – China has warned North Korea about starting a war. China told them flat out, 'Do not fire any missiles at the United States at least until after we get our money. They owe us $16 trillion. Wait until then.'" - Jay Leno | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver and Gold Prices Up Slightly with the Gold Price Closing at $1,294.60 Posted: 20 May 2014 04:45 PM PDT
Friends, this don't happen in nature. The GOLD PRICE last three daily moves have been -20 cents, plus 40 cents, and plus 80 cents. This is not a market but a mausoleum. Gained 80 cents today for a Comex close at $1,294.50. The SILVER PRICE rose -- ready for this? -- 4.5 cents to 1936.7c. I'm haunted by what the BoE's Bean said. I remember only too well August through November 2008. It was horrifying. The paper and physical prices of silver and GOLD PRICES completely disjointed. Physical silver cost 40% or more above the paper quote, and you couldn't get it except with a six to eight week delay. US 90% silver coins rose to a 50% premium Physical gold didn't acquire that large a premium, but was still 5 - 8% higher than paper gold. And delays? You were lucky to find a wholesaler who would sell it to you even with an 8 week delay. Markets don't ever play dead long. Silver and gold prices are both in technical uptrends (higher highs, lower lows), but I could make an argument either way from this flatness: either it means silver and gold will drop off, or shoot up. On the weakness side, both the silver and gold price are below their 20 DMA's ($1,295 and 1945c). Gold has built that long narrow even-sided triangle, and that suggests a snake coiling for a long move, you just don't know which way he will strike. You're right, I am coming down squarely on both sides of the fence. I am not ambiguous about this, though: breakout will come soon, up or down. Odd, portentous event today. Retiring Bank of England Deputy Governor said that the present low volatility in financial markets is "eerily reminiscent" of the run-up to the 2008 financial crisis. Now I wonder why he did that? Was this just a Greenspan maneuver, dusting his skirts clean before he leaves and the world blows apart? Or is it a well-meant warning? Volatility returned to US Stocks today. Dow sank 137.55 (0.83%) to 16,374.31, while the S&P500 also gurgled lower 12.25 (0.65%) to 1,872.83. Ooooh. That takes the Dow below its 50 DMA (16,403) where cheerleaders were hoping the Dow would stage a rally. Let's see, below 50 DMA and 20 DMA and 200 DMA rests below at 15,891. S&P 500 did not punch through its 50 DMA (1,868) tut touched it and closed not much higher. Russell 2000 and Nasdaq Composite offer no comfort at all. Russell 2000 is below its 50, 20, AND 200 DMA, and about to break down out of a plain topping formation. Nasdaq Comp has nearly completed a head and shoulders top, and is also below its 50 and 20 DMA. Nasdaq 100 alone remains above its 50 and 20 DMA, but it's finishing the right shoulder of a HandS top, too. It begins to look more and more like 13 May marked the top in stocks. Dow in Silver and Dow in Gold agree with that conclusion. Dow in Gold today broke clean out of its rising flat topped triangle. Ended down 0.96% (without gold moving!) at 12.65 oz (G$261.50 gold dollars). It's already below its 20 DMA, and the 50 lurks nearby at 12.55 oz (G$259.43). I don't think it can be denied any longer that the Dow in Silver has turned down, too. It has walked through two uptrend lines, and today closed again below its 20 DMA (849.60 or S$1,098.47). On flat silver it lost 1.11% today to 844.04 oz (S$1,091.28 silver dollars). Should move much lower. I'd be bald as a Boston billiard ball if I were the Nice Government Man tasked with managing the US dollar -- but then again, I reckon they're doing just what they mean to do. Catatonic, it rose 3 basis points to 80.10. Euro fell 0.7% to $1.3701, Yen rose 0.16% to 98.91. None of them have a lick of gumption. Dollar roared off a bottom two weeks ago, hit 80.40, and forgot what it was doing. Euro has broken down into a fall that may last six or nine months. Yen has broken out upside like a chick hatching, one chip at a time, no follow through. Gigantic moves, followed by catatonia. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver and Gold Prices Up Slightly with the Gold Price Closing at $1,294.60 Posted: 20 May 2014 04:41 PM PDT
Friends, this don't happen in nature. The GOLD PRICE last three daily moves have been -20 cents, plus 40 cents, and plus 80 cents. This is not a market but a mausoleum. Gained 80 cents today for a Comex close at $1,294.50. The SILVER PRICE rose -- ready for this? -- 4.5 cents to 1936.7c. I'm haunted by what the BoE's Bean said. I remember only too well August through November 2008. It was horrifying. The paper and physical prices of silver and GOLD PRICES completely disjointed. Physical silver cost 40% or more above the paper quote, and you couldn't get it except with a six to eight week delay. US 90% silver coins rose to a 50% premium Physical gold didn't acquire that large a premium, but was still 5 - 8% higher than paper gold. And delays? You were lucky to find a wholesaler who would sell it to you even with an 8 week delay. Markets don't ever play dead long. Silver and gold prices are both in technical uptrends (higher highs, lower lows), but I could make an argument either way from this flatness: either it means silver and gold will drop off, or shoot up. On the weakness side, both the silver and gold price are below their 20 DMA's ($1,295 and 1945c). Gold has built that long narrow even-sided triangle, and that suggests a snake coiling for a long move, you just don't know which way he will strike. You're right, I am coming down squarely on both sides of the fence. I am not ambiguous about this, though: breakout will come soon, up or down. Odd, portentous event today. Retiring Bank of England Deputy Governor said that the present low volatility in financial markets is "eerily reminiscent" of the run-up to the 2008 financial crisis. Now I wonder why he did that? Was this just a Greenspan maneuver, dusting his skirts clean before he leaves and the world blows apart? Or is it a well-meant warning? Volatility returned to US Stocks today. Dow sank 137.55 (0.83%) to 16,374.31, while the S&P500 also gurgled lower 12.25 (0.65%) to 1,872.83. Ooooh. That takes the Dow below its 50 DMA (16,403) where cheerleaders were hoping the Dow would stage a rally. Let's see, below 50 DMA and 20 DMA and 200 DMA rests below at 15,891. S&P 500 did not punch through its 50 DMA (1,868) tut touched it and closed not much higher. Russell 2000 and Nasdaq Composite offer no comfort at all. Russell 2000 is below its 50, 20, AND 200 DMA, and about to break down out of a plain topping formation. Nasdaq Comp has nearly completed a head and shoulders top, and is also below its 50 and 20 DMA. Nasdaq 100 alone remains above its 50 and 20 DMA, but it's finishing the right shoulder of a HandS top, too. It begins to look more and more like 13 May marked the top in stocks. Dow in Silver and Dow in Gold agree with that conclusion. Dow in Gold today broke clean out of its rising flat topped triangle. Ended down 0.96% (without gold moving!) at 12.65 oz (G$261.50 gold dollars). It's already below its 20 DMA, and the 50 lurks nearby at 12.55 oz (G$259.43). I don't think it can be denied any longer that the Dow in Silver has turned down, too. It has walked through two uptrend lines, and today closed again below its 20 DMA (849.60 or S$1,098.47). On flat silver it lost 1.11% today to 844.04 oz (S$1,091.28 silver dollars). Should move much lower. I'd be bald as a Boston billiard ball if I were the Nice Government Man tasked with managing the US dollar -- but then again, I reckon they're doing just what they mean to do. Catatonic, it rose 3 basis points to 80.10. Euro fell 0.7% to $1.3701, Yen rose 0.16% to 98.91. None of them have a lick of gumption. Dollar roared off a bottom two weeks ago, hit 80.40, and forgot what it was doing. Euro has broken down into a fall that may last six or nine months. Yen has broken out upside like a chick hatching, one chip at a time, no follow through. Gigantic moves, followed by catatonia. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| China Is A Direct Threat To The Dollar So U.S. Charges China With Cyber-Espionage Posted: 20 May 2014 03:28 PM PDT Bernanke says economy is strong that's why stock market is up. Bernanke also told us in 2008 that the FED is not forecasting a recession. The Obama administration is using the backdoor approach to push the gun control agenda by choking off lines of credit for gun stores and manufactures.... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Life Is a Cabaret Posted: 20 May 2014 01:20 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Life Is a Cabaret Posted: 20 May 2014 01:20 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Central banks have markets in lockdown, Embry tells KWN Posted: 20 May 2014 12:04 PM PDT 3p ET Tuesday, March 20, 2014 Dear Friend of GATA and Gold: Markets are becoming even more tightly controlled by central banks, Sprott Asset Management's John Embry tells King World News today. "We have the markets in total lockdown," Embry says. "The markets have become so manipulated that it's laughable. The situation has become so bad that we have Deutsche Bank coming out and saying that perhaps the Fed and the central banks are controlling markets too much through their guidance. What a laugh that is. It's a whole lot more than guidance." Embry's interview is excerpted at the KWN blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/5/20_Sh... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Silver mining stock report comes with 1-ounce silver round Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit: Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price In The Post-Nixon Era Posted: 20 May 2014 11:37 AM PDT Gold bull market: during the late 1960s and 70s Gold bear market: during the 80s and 90s Gold bull market: since 2001 Now we need to know:
or
My answer: Gold peaked in 2011, bottomed in June and December of 2013, and should rally for at least several years, and probably until the end of the decade. Why? Examine the following graph of weekly gold prices since 1977 and the 144 week simple moving average shown in red. The uptrend since 2001 is clear and pronounced. The correction since 2011 is unmistakable.  gold price from 1977 till 2014
The spreadsheet (not shown) indicates:
Gold did NOT blow-off into a bubble high in 2011, all the drivers for higher gold prices are still valid, international demand is strong, supply will be reduced when the western central banks run out of gold or terminate "leasing" into the market, and US, EU and Japanese government expenses, "money printing" and bond monetization are out of control and accelerating. Gold prices will climb a wall of worry in the years ahead.
GE Christenson | The Deviant Investor | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why the SEC Wants to Prevent You from Making Huge Gains Posted: 20 May 2014 11:18 AM PDT Before the U.S.A. even came into existence, entrepreneurship defined its culture. European settlers journeyed here to start fresh… Pioneers pushed westward to stake their claims… And nowadays, tech entrepreneurs flock to Silicon Valley to pursue world-changing ideas. Entrepreneurship is the original American Dream, and it’s created one of the most prosperous nations on the globe. Recently, however, a study revealed that the American Dream might be dying – and with it, our entire economy. Although some farsighted people have made it their mission to tackle this problem head-on, their efforts may be in vain. Let me explain… For the past 25 years, consumer spending – the money you spend on goods and services – has accounted for over 70% of our GDP growth. What drives consumer spending? Primarily it’s your income. Where does income come from? Well, unless you have a multi-million dollar portfolio, it comes from your job. And who are the largest employers in the country? Small businesses. …under the SEC’s proposed rules, a company raising $100,000 in equity crowdfunding would actually LOSE $38,000. According to the Small Business Administration, small businesses accounted for 55% of all jobs, and 66% of all new jobs. To put it simply, as small businesses grow, so does the economy. So as you can see, entrepreneurship isn’t just part of our culture… It’s one of the primary drivers of our economy. But a recent study from the Brookings Institution has shown that, since 1978, the US has become “less entrepreneurial.” According to the study, after three decades of steady decline, we reached an “inflection point” in 2008. For the first time, the percentage of new businesses shutting their doors was greater than the percentage of new businesses being created. Fewer new companies means fewer jobs. Fewer jobs leads to less consumer spending. And less spending equals a contracting economy. This effect isn’t showing up just in the data. Americans are feeling the effects of this phenomenon in their day-to-day life. A Gallup Poll taken in 2011 showed that, for the first time in 30 years, the majority of Americans believe their children will have a lower quality of life than they themselves have had. Unless this trend can be reversed, we’ll be leaving our children a country that’s on a downward spiral. This realization is one of the factors that led Congress to pass the Jumpstart Our Business Startups Act – or the JOBS Act, for short. The SEC still has the final say (and, unfortunately, they’re dragging their feet), but simply put, the goal of the JOBS Act is to create more jobs. By allowing companies to publicly advertise that they’re raising capital – and in the future, by allowing companies to raise money from all US citizens, not just wealthy “accredited” investors – Congress believes we’ll see a dramatic increase in new business creation. New businesses would lead to more jobs – and to greater economic growth and prosperity. Here’s how the “math” behind the JOBS Act works: If Americans use the JOBS Act to allocate just 1% of their investable assets into early-stage companies, a $300 billion marketplace will be born. To put that in perspective, that’s 5x more capital than venture capitalists and angel investors put into start-ups each year. This new capital could create 300,000 new businesses each year. And if each business employed just 10 people, 3 million new jobs would be created annually. Now that’s growth for America. But for all of the support the JOBS Act has received, it has its opponents as well. Specifically, the SEC. While the SEC seems to have investors’ best interests at heart, we question the solutions they’re proposing to protect them. Introducing unnecessary regulation, costs and inefficiencies to the process could ultimately cripple the JOBS Act – and it could put the very future of our economy in jeopardy. For example, the SEC is proposing that companies raising equity crowdfunding will have to spend tens of thousands of dollars each year on accounting, audit and legal services. Those dollars would be better spent on hiring. One report recently calculated that under the SEC’s proposed rules, a company raising $100,000 in equity crowdfunding would actually LOSE $38,000. This has us concerned… actually, angry is the more appropriate term. So what I’d like to do today is take a quick vote… We’re contemplating putting together a formal petition against the SEC’s burdensome rules and submitting it to Congress. If you’d be willing to sign the petition, please write in to Tomorrow in Review: tomorrowinreview@agorafinancial.com If we receive enough emails, we’ll start collecting signatures. It may not make a difference in the end, but we can’t stand by and do nothing. Not when the stakes are this high. Regards, Wayne Mulligan Ed. Note: The future of the U.S. economy is on shaky ground. But no matter what happens, there will always be opportunities to profit — especially in the tech startup space. Sign up for Tomorrow in Review, for FREE, right here, to learn which companies are set to take off before the rest of the market hears about them. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Prices Will Rise on Robust Demand and Instensifying Currency War Posted: 20 May 2014 10:34 AM PDT Gold prices remain stuck in a narrow range between $1,290 and $1,305, the downside being limited by geopolitical concerns and the upside being capped by generally good U.S. data, which suggest the U.S Federal Reserve will carry on with the current pace of stimulus tapering. Meanwhile reports show that the Chinese are buying less gold this year and demand during the Golden Week holidays that began on 1 May dropped some 30% from a year ago. After an exceptional year for gold sales in 2013, the situation is back to something like 2012, according to Haywood Cheung, president of the Chinese Gold & Silver Exchange Society. While China surpassed India as the biggest bullion consumer last year, the buying frenzy, triggered by a price slump last April has not been repeated this year. “Before, when they walk into a jewellery shop, they spend about HK$10,000 ($1,290), and now it’s about HK$5,000 to HK$6, 000,” Cheung told Bloomberg, quoting estimates by the society’s 171 members including HSBC Holdings and Chow Tai Fook Jewellery Group, the largest listed jewellery chain. “Last year was something special. We’re back to something like 2012. Wait till next year, we’ll start to pick up gradually and come back to 2013 levels,” Cheung added. Chinese gold and silver jewellery sales dropped 30% to 20.8bn yuan ($3.3bn, €2.4bn, £1.9bn) in April from a year ago, according to government data. Net gold imports into mainland China from Hong Kong hovered at 275.6 tonnes in the first three months of 2014 as against 210.5 tonnes in the corresponding period a year ago. According to the Swiss Federal Customs Administration, more than 80% of Switzerland’s gold and silver bullion and coin exports found their way into Asia in January. Some reports show that China imported nearly 1,160 tonnes of gold from Hong Kong in 2013 in the wake of the price slump. Gold consumption in China hovered at a record 1,176.4 tonnes last year. The flow of bullion from the west to the east was emphasised by the World Gold Council in November 2013, citing higher activity at refiners in Switzerland that were recasting bullion into the higher-purity, smaller-sized bars preferred by Asian buyers. While the drop in demand is quite substantial, and even though analysts attribute the decline to a weaker yuan, which has made gold less attractive to Chinese buyers of bullion, the fall in Hong Kong shipments coincides with another event. The Chinese government announced the opening of official gold imports through Beijing–the first time foreign bullion sales will be allowed directly through the capital. Up until now, Hong Kong has been the preferred channel for China’s gold imports. But authorities are reportedly uneasy about Hong Kong’s extensive and transparent reporting on trade. By using Beijng as a port of entry, imports into China may become more opaque, once again.This will allow China’s banks to build a sizeable position in physical gold without global buyers realizing the accumulation is taking place. The fall in Hong Kong gold trade may not be as significant as it seems if Chinese purchases are moving to more-secretive sales through Beijing. And, this may result in permanent decrease in the amount of trade conducted through other cities. We could thus be witnessing the beginning of a new era in the global gold market. Of course, there’s no way to know for sure what’s happening with Chinese purchases. But the timing of the shifts in trade is certainly something that is worth considering. In India, Narendra Modi, the controversial Hindu nationalist won a landslide victory in the country's general election. Few predicted his conservative, pro-business Bharatiya Janata party, in opposition since 2004, would win 282 of the 543 directly elected seats in India’s lower house and international investors and local businessmen have welcomed the huge mandate for the BJP, which has promised to implement wide-ranging economic reforms. Though economic growth was strong through much of the decade of rule by Congress, it has faltered in recent years. Even though, India announced yet another hike in the import tariff value of gold on Friday, analysts believe that the new government may ease the restriction on gold imports. Last year duties on gold imports were increased several times. Currently, they stand at 10%. Other measures include an 80-20 rule that stipulates that a minimum of 20% of all gold imported must be exported before further imports can be made. The Reserve Bank of India that imposed the restrictions ignored the fact that gold has been part of the Indian culture for centuries. It's normal to buy and store gold and give it as a gift at weddings and certain times of year. The government did not want money going into gold so the government curbed gold imports, causing internal pricing to go through the roof and also were the cause of a dramatic increase in the smuggling of the yellow metal. As the conflict in Ukraine continues and while the West blames Russia as the cause, Russian President Vladimir Putin has informed multiple European states that Moscow will not supply gas to Europe through Ukraine as of June 1 if Kiev does not pay its bills. On Thursday, Putin said Russian gas exporter Gazprom had been forced to demand Ukraine pay in advance for gas as of June after its debt for gas already delivered reached $3.5 billion. Putin also urged European leaders to do more to help Ukraine through its economic crisis and to resolve the standoff over gas, repeating a threat to cut exports if Kiev fails to pay in advance for June deliveries. As the US and EU threaten to halt Russia from what they perceive as destabilising Ukraine by imposing a string of sanctions against the country, Russia has been working on trade arrangements that minimize the participation (and influence) of the US dollar. For decades, virtually all oil and natural gas around the world has been traded in U.S. dollars. However, the struggle over Ukraine has caused Russia to completely re-evaluate the financial relationship that it has with the United States. If it starts trading a lot of oil and natural gas for currencies other than the U.S. dollar, that will be a massive blow for the petrodollar, and it could end up dramatically changing the global economic landscape. According to various sources, Russia's Ministry of Finance is ready to green-light a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. The "de-dollarization meeting" was chaired by First Deputy Prime Minister of the Russian Federation Igor Shuvalov, proving that Moscow is very serious in its intention to stop using the dollar. A subsequent meeting was chaired by Deputy Finance Minister Alexey Moiseev who later told the Rossia 24 channel that "the amount of ruble-denominated contracts will be increased", adding that none of the polled experts and bank representatives found any problems with the government's plan to increase the share of ruble payments. Of course, the success of Moscow's campaign to switch its trading to rubles or other regional currencies will depend on the willingness of its trading partners to get rid of the dollar. Sources cited by Politonline.ru mentioned two countries that are already willing to support Russia: Iran and China. Given that Vladimir Putin will visit Beijing on May 20, it can be speculated that the gas and oil contracts that are going to be signed between Russia and China will be denominated in rubles and yuan, not dollars. While China and Russia both expand their respective currency's acceptance and accumulate more gold, the US dollar will ultimately lose its status as the world's reserve currency. And, while most western central banks as well as the Bank of Japan continue to devalue their respective currencies, the on-going currency war will intensify. The prudent minority won't be beguiled into holding paper currencies, and instead they will diversify into hard assets, such as gold and silver.  gold price Gold prices continue to trade sideways, hovering around the $1300/oz. level and the 200 day MA. Prices remain stuck between $1280/oz. and $1320/oz. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 20 May 2014 10:28 AM PDT Jim Sinclair’s Commentary $90 billion, but a small step towards the elimination of a dollar intermediary. Russia's VTB and Bank of China agree on domestic currency settlements Published time: May 20, 2014 08:58 VTB, Russia's second biggest lender, has signed a deal with Bank of China, which includes an agreement to pay each other in... Read more » The post In The News Today appeared first on Jim Sinclair's Mineset. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lies, Inflation, and the Minimum Wage Posted: 20 May 2014 09:24 AM PDT Regular readers are familiar with the Great Inflation Lie. Lying about inflation is a device of deceit which governments use to pad numerous economic statistics, since most of these statistics only have relevance/legitimacy if fully "deflated" by the (real) prevailing rate of inflation. The example with which readers are most familiar is that understating inflation can be used to exaggerate GDP, on a point-for-point basis. Understate the rate of inflation by 5%, and you overstate GDP by an equal 5%. It is thus through this Lie (which is getting larger every year) that the U.S. government has been able to pretend that it's Greater Depression is actually an "economic recovery". However, readers have also previously seen another manifestation of the Great Inflation Lie: to hide the collapse in Western wages, which (in real dollars) have fallen by more than 50% over the past 40 years. The chart below illustrates this Lie perfectly.
[chart courtesy of Nowandfutures.com] The blue line (wages deflated with the "official" rate of inflation), shows the myth: wages which have supposedly stayed roughly flat in real dollars. The green line shows the truth: wages deflated with the real rate of inflation. As readers can see for themselves; the collapse in Western wages has dragged them all the way back (in real dollars) to Great Depression levels. But not all Western nations (and their citizens) have bought into this Corporate mythology, and doomed the vast majority of their populations to little more than slave wages. A few Western nations have shielded their populations from this wage-destruction via (unreported) inflation, and the differences between their economies and ours are highly revealing – especially when viewed from the bottom (i.e. the "minimum wage"). | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| German TV network broadcasts long program on gold market manipulation Posted: 20 May 2014 09:09 AM PDT 12:12p ET Tuesday, May 20, 2014 Dear Friend of GATA and Gold: Gold researcher and GATA consultant Koos Jansen today calls attention to a long broadcast about gold market manipulation made this month on the German-language television network 3sat, which serves Germany, Austria, and Switzerland. The broadcast came on the 3sat program "Makro" and focused on recent complaints about the daily London gold fixings. It quoted market analyst and GATA consultant Dimitri Speck and Hong Kong fund manager William Kaye, who is frequently interviewed by King World News about gold market manipulation. The program does not seem to have gotten much into central bank involvement in the market manipulation, but questions are raised about Germany's gold reserves vaulted abroad, so this may have been a good start. Jansen has posted both full video of the program and an English transcript at his Internet site, In Gold We Trust, here: http://www.ingoldwetrust.ch/gold-price-manipulation-goes-mainstream-on-g... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.com. Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Safe and Private Allocated Bullion Storage In Singapore Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore. Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Technical analysis versus value in gold Posted: 20 May 2014 09:00 AM PDT Finance and Eco. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| May The Interest Rate Rise With You Posted: 20 May 2014 08:50 AM PDT If global financial markets cannot set interest rates, they are distorted and dysfunctional by definition. Of course one may argue that they have long been distorted regardless, and there’s plenty merit to that, but without being able to determine interest rates, it is impossible for markets to become functional again, other than through a collapse so severe nobody wants to be seen dead with any paper ‘assets’ anymore. That is the inevitable fork in the road: either you allow interest rates to be – freely – set by markets, or you run head first into a market crash. There are other requirements too, like getting rid of bad debt, restructuring, allowing defaults and throwing out bankrupt zombifies market participants, but none of that will do much good as long as central banks and governments can claim the right of granting themselves the authority to set rates at whim. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Trading - AUD/USD Double Trouble Posted: 20 May 2014 08:24 AM PDT Earlier today, the minutes of the RBA's May policy meeting showed that the bank plans to hold interest rates at record lows for an extended period of time. Additionally, the Conference Board reported that its index for Australia was flat in March, after a 0.2% rise in February. In reaction to this disappointing news, the Australian dollar dropped to a 2-week low against its U.S. counterpart, declining below two important support levels. Does this mean that investors’ sentiment is deteriorating and we’ll see AUD/USD lower? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| London’s precious metals fixes fixable? Posted: 20 May 2014 08:06 AM PDT The London silver fix in its current form will go. Can the others be saved? Should they be saved? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank jurisdiction key in gold storage – Phillips Posted: 20 May 2014 08:06 AM PDT In his regular update on the gold price, Julian Phillips, of the Gold Forecaster, weighs in on Credit Suisse tax evasion case. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Despite gold curbs, jewellers manage record exports Posted: 20 May 2014 08:06 AM PDT Indian gold jewellery & source: “Any respite the government felt through lower imports was negated by a big jump in smuggling,” a trader says. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Latest ECB gold sales agreement raises questions Posted: 20 May 2014 08:06 AM PDT The latest ECB gold sales agreement is notable for not putting a cap on possible future sales, but is a cap necessary under current market conditions? Perhaps it should be. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Byrnecut wins DeGrussa copper-gold underground mining contract Posted: 20 May 2014 08:06 AM PDT Sandfire Resources has appointed Byrnecut Australia to take over the underground contract mining operations at its Degrussa high grade copper-gold mining operation in Western Australia. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Turkish court arrests 8 in mine investigation, including CEO Posted: 20 May 2014 08:06 AM PDT The eight suspects were arrested on a provisional charge of “causing multiple deaths” in last week’s mine collapse in Soma. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Demand "Firm Long-Term" But Perception of "Good Times" Weighs on Investor Buying & Scrap Supply Posted: 20 May 2014 05:46 AM PDT GOLD DEMAND slipped in London's wholesale market Tuesday morning, with bullion prices falling to 1-week lows some 1.3% beneath yesterday's peak at $1305 as Asian stockmarkets closed higher but European shares slipped with weaker Eurozone bond prices. What one dealer called "light, dull" volumes left precious metals traders not already busy with London's annual Platinum Week of conferences and meetings to digest the latest gold-market demand and supply data. New UK data meantime showed inflation in consumer prices accelerating in April to return to the Bank of England's medium-term target of 2.0% per year. Ten-year UK gilt yields rose to 2.62% on the news, and Sterling spiked half-a-cent vs. the Dollar, helping the gold price for UK investors erase last week's 0.6% rise at £765 per ounce. US Treasury bonds are priced for "dovish" comments in tomorrow's release of US Federal Reserve minutes, says Bloomberg. "It is clear that the longer-term underpinnings of the gold market – such as jewelry demand in Asia – remain firmly in place," says Marcus Grubb of the World Gold Council, launching the latest Gold Demand Trends report today Total gold demand globally was unchanged in the first quarter from Q1 2013, the market-development group's analysis of Thomson Reuters GFMS' data says. But within that total, gold bar and coin demand fell hard, down 39% by weight and 52% lower by value from Jan-March last year, while holdings for gold ETF trust funds – predominantly used by professional and institutional investors, and shrinking by one-third last year – were flat for the quarter, avoiding heavy sales for the first time since end-2012. "When times were bad," the Wall Street Journal quotes commodity strategist Bart Melek at TD Securities, "people didn't mind paying a premium to own gold. "But now that the existential risks have passed, that desire is no longer there." Q1 jewelry demand in contrast rose to a 9-year high on the World Gold Council's new market data, led by what it calls "a strengthening economic environment." Central bank purchases were 70% above their 5-year quarterly average, led by Iraq and Russia, and the Eurozone became a net buyer thanks to Latvia joining the single currency union, adding gold to its reserves as part of the Euro treaty. Western Europe's existing "legacy gold holders" meantime retained their gold bullion reserves once again, in contrast to the heavy sales of 10-20 years ago. "Participants can find comfort" in Monday's revised Central Bank Gold Agreement, says Swiss investment and bullion bank UBS, noting previous fears of possible Eurozone gold sales "during the height of the Eurozone crisis" and into 2013. But "we find this new Agreement a little unsatisfactory," counters Australian bank Macquarie's commodity analyst Matthew Turner. Because while renewing the pact "would help short-term stability" in the market, opting instead to scrap the deal would have sent "a positive signal to other central banks [long-term] about gold's practicality as a reserve asset." Monday's "non-renewal renewal" of the CBGA "seems to achieve neither," says Turner. On the other side of the gold market, gold mining supply rose 6% year-on-year in Q1 as producers failed to trim output – as some analysts had predicted – despite the second-lowest quarterly average price since 2010. Lower gold prices did deter scrap supply however, with recycling sales dropping 13% to "very much the lower end" of the sector's post-financial crisis range according to the World Gold Council. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price - A 40 Year Perspective Posted: 20 May 2014 03:59 AM PDT In broad terms, gold was in a bull market during the late 1960s and 70s, a bear market during the 80s and 90s, and back in a bull market since 2001. The important questions are: Did gold reach a generational peak in 2011 and subsequently turn down for a decade or two? Or Did gold reach an intermediate top in 2011 based on QE, dollar weakness, and high demand, correct for 2.5 years, and then begin a rally likely to persist through the end of the decade? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold, Stocks and Crude Oil Heading Lower Posted: 20 May 2014 03:54 AM PDT GOLD is moving sideways in 1268-1331 range for more than a month between two contracting trend-lines that make a shape of a triangle. We are looking at a running triangle in wave (b) that can be near completion as rise from 1276 is already in three legs that represents wave e), final leg in the pattern. With that in mind, traders should be aware of a bearish reversal down in wave (c) towards 1220/40 especially once 1277 and pattern support will give way. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price Bearish Reversal Ahead Posted: 20 May 2014 03:49 AM PDT Gold is moving sideways in 1268-1331 range for more than a month between two contracting trend-lines that make a shape of a triangle. We are looking at a running triangle in wave (b) that can be near completion as rise from 1276 is already in three legs that represents wave e), final leg in the pattern. With that in mind, traders should be aware of a bearish reversal down in wave (c) towards 1220/40 especially once 1277 and pattern support will give way. |
Gold prices remain stuck in a narrow range between $1,290 and $1,305, the downside being limited by geopolitical concerns and the upside being capped by generally good U.S. data, which suggest the U.S Federal Reserve will carry on with the current pace of stimulus tapering.
Dear Friend of GATA and Gold:
Another one bites the dust: 
The other side of the coin – North Korean propaganda poster.
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