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- Paulson-backed Detour Gold plots supersizing mine
- Gold's pent-up demand
- Gold Awaits Resolution to Tightening Range
- New Gold Discovery At San Miguel May Make Shorts Cover
- Crisis update: The latest on Russia's "undeclared war" on Ukraine
- Gold Resource's (GORO) CEO Jason Reid on Q1 2014 Results - Earnings Call Transcript
- Demand for Indian gold jewellery to rise - analysts
- Gold set for another strong move - Phillips
- What Will Shake Retail Investors Out Of Their Shell Shock?
- Gold ETF outflows resume
- Marshall Swing: Stay Thirsty for Physical My Friends!
- Gold declines
- Gold stays on the defensive
- Gold backs off on dollar gains
- Gold ETPs report outflows of nearly 5MT so far in May
- Chinese fund offers 46% premium for Laotian gold miner
- New data show the Federal Reserve's "secret weapon" could be running out of power
- Copper Succumbs to Disappointing China news
- Tim Geithner Admits “Too Big To Fail” Hasn’t Gone Anywhere (And That’s the Way He Likes It)
- Fortuna Silver revenue, Gold and Silver output hit record level in Q1
- Elites Are Running Out of Time & Options
- Deepcaster: Nasty Market Surprises Await Investors
- Silver outpaces gold
- If you're a fixed-income investor, you should see this now
- Gold Ready For Breakout?
- Gold to Hold, Fold, or Explode?
- Alasdair Macleod on Inequality & Piketty: Are Global Wealth Taxes the Solution to Financial Crisis?
- Master trader Clark: The one chart you need to watch this week
- Silver In Backwardation- Sudden Premium Spike Suggests Physical Silver Shortage Hits Shanghai
- Gold constrained in narrow range, PGM prices gain on South Africa strikes: ETFS
- Russian Economic Power Driving Wedge Between Indebted Western Governments
- Russian Economic Power Driving Wedge Between Indebted Western Governments
- Gold price forecast 2014: BNP Paribas revises up to $1,255 an ounce from $1,095
- Gold Price Analysis- May 13, 2014
- How Gold performs about 100 day moving avg
- Gold affected by the negative momentum – Analysis - 13/05/2014
- Silver Forecast May 13, 2014, Technical Analysis
- Gold, Silver Bulls Defend Key Support Zones, China Data Eyed
- US Dollar Bottom Comfirmation Pending, SPX 500 Eyeing 1900 Anew
- US Dollar Finds Support, Bias Is Bullish
- Junk silver coins : Why 90% junk silver coins are worth the investment?
- Chinese Gold Demand Running at Rate of 2,000 Tonnes Per Year
- Three King World News Blogs
- PICTURED: Miners' hard life now tinged with fea
- Peru, Colombia to join forces to combat illegal mining
- Dubai goes for gold
- Sprott Money Weekly Wrap Up
- John Embry: Book lays bare chicanery of western governments
- Gold, silver now building big technical bases
- India's gold imports plunge in April
| Paulson-backed Detour Gold plots supersizing mine Posted: 13 May 2014 03:33 PM PDT The company is currently exploring ways to make its Detour Lake mine, Canada's largest gold mine, even bigger. |
| Posted: 13 May 2014 01:12 PM PDT The gold price has been rising and falling with the changing perceptions of what is happening, or likely to happen in the Ukraine – but there should be other factors at play too which are just as relevant. |
| Gold Awaits Resolution to Tightening Range Posted: 13 May 2014 12:47 PM PDT |
| New Gold Discovery At San Miguel May Make Shorts Cover Posted: 13 May 2014 12:29 PM PDT The time to accumulate undervalued resource assets is now as the sideways basing action in gold (GLD), silver (SLV) and the junior miners (GDXJ) continues for over three years. The time to buy is when stocks are priced at major lows with massive short positions. Now some of the financial banks may be short gold miners and bullion, however, the smart money invested for at least the 3-5 year period is accumulating. Gold and silver coin sales are at record levels and emerging nations are importing physical at record levels. This may concern the short gold and silver trade who may soon witness the end of the bear market in precious metals and miners. The shorts may soon begin to cover. I believe there could be major rally in the junior Canadian resource sector which could possibly last 3-5 years and be extremely powerful. Early stage exploratory miners and their |
| Crisis update: The latest on Russia's "undeclared war" on Ukraine Posted: 13 May 2014 12:22 PM PDT From Bloomberg: Insurgents killed seven Ukrainian soldiers and wounded eight others in an ambush near an eastern rebel-held stronghold as the defense minister said the country was fighting an “undeclared war” with Russia. More than 30 attackers struck a convoy near the Donetsk region city of Kramatorsk at about 1 p.m., according to a statement by the Defense Ministry, which said that six paratroopers were killed. Another died later during transport to the hospital, according to Interfax. “Russia is already engaged” in Ukraine “in supporting Russian-led protesters and terrorists,” Ukrainian Prime Minister Arseniy Yatsenyuk told reporters in Brussels today after talks with European Commission President Jose Barroso. “We urge Russia to condemn them, to urge all these so-called protesters — or really, terrorists — to leave and vacate the buildings, and to do everything they can to stabilize the situation in Ukraine. Russia will fail to make Ukraine a failed state.” As fighting flared, Europe tried to rev up diplomatic efforts, with Germany’s Foreign Minister Frank-Walter Steinmeier visiting Kiev and Odessa in a bid to broker talks between the central government and pro-Russian separatists. Russia would face new sanctions if the scheduled presidential election on May 25 is disrupted, French President Francois Hollande said in Tbilisi, the capital of the former Soviet republic of Georgia, which fought a war with Russia over a breakaway region in 2008. Separatists Unite The self-styled Donetsk People’s Republic and neighboring Luhansk agreed to unite today, a day after declaring themselves sovereign states. Donetsk said 90 percent of voters backed splitting from Ukraine in a May 11 referendum that was rejected by the U.S. and European Union as illegitimate and marred by irregularities. Luhansk reported a similar ballot result. The events echo Russia’s annexation of Crimea in March, Ukraine’s government and its U.S. and European allies say President Vladimir Putin is stoking unrest that’s threatening to rip apart the former Soviet republic ahead of the presidential vote. “In our eastern regions we have an undeclared war,” acting Defense Minister Mykhaylo Koval told reporters in Kiev today. “Our neighboring country unleashed the war, sending special forces and saboteurs into our territory.” EU Sanctions EU foreign ministers froze the assets of companies for the first time, including oil and natural-gas producer Chernomorneftegaz, after they were expropriated during Russia’s Crimea’s annexation. They added 13 people to a list of individuals facing asset freezes and travel bans for destabilizing Ukraine and threatened more measures, along with the U.S., to target entire Russian industries. The EU will soon disburse the first package of 600 million euros ($823 million) of a total amount of 1.6 billion euros of macro-financial assistance to Ukraine, Barroso said today. Russian stocks advanced on bets the latest penalties won’t hurt the economy. The Micex Index (INDEXCF) jumped 0.7 percent to 1,385.29, advancing for a fifth day and paring its drop since the start of Russia’s intervention in Crimea on March 1 to 4.1 percent. The ruble strengthened 0.6 percent to 34.8335 per dollar, according to data compiled by Bloomberg, extending its gain since Feb. 28 to 3 percent. Ukraine’s hryvnia was 0.5 percent weaker to the dollar, bringing its loss to 30 percent since the start of the year. Compromise Deal? “It is still hard to see the shape of any compromise deal at this point in time, as the federal structure which is being pushed by Russia and the separatists in south-east Ukraine is simply unacceptable to the administration in Kiev, and those in the west of the country,” Timothy Ash, an emerging-markets economist at Standard Bank Plc in London, said in an e-mail. If Donetsk and Luhansk secede, Ukraine would lose about a fifth of its economic output, Bank of America analyst Vadim Khramov said in an e-mailed report today. As for Russia, the tension may cost it $115 billion, or about 3 percent of annual output, and exacerbate recessionary pressure, said Nariman Behravesh, chief economist at consultancy IHS Inc. (IHS), said in an e-mail today. “While Russia could end up paying a very heavy economic price for its annexation of Crimea and its ongoing conflict with Ukraine, the negative impacts on other parts of the world, notably Europe, will also be hard to avoid,” Behravesh said. Troop Buildup The U.S. says Russia has massed about 40,000 troops on Ukraine’s border and is helping insurgents who have seized buildings and television towers in at least 10 cities. With the separatists lacking infrastructure and voter registries and without control over the entire regions, the referendums were held in a salient extending from Russia’s border to about 200 kilometers (120 miles) into Ukraine in northern Donetsk and southern Luhansk, according to an analysis by news website espresso.tv. The balloting was “illegal under Ukrainian law” and a “transparent attempt” to create further division, White House spokesman Jay Carney told reporters in Washington. He said there were cases of pre-marked ballots and children voting and that the U.S. was disappointed Russia didn’t use its influence to prevent the referendums from taking place. German Chancellor Angela Merkel said today she was “not interested” in the referendum results. ‘Deep Crisis’ Russia said a “reluctance of the Kiev authorities to engage in real dialogue with the representatives of the regions” was an obstacle to de-escalation. “The recently held referendums in the Donetsk and Luhansk regions of Ukraine should be seen as a clear signal of a deep crisis,” its Foreign Ministry said in a statement on its website today. A majority of Ukrainians, or 56 percent, believe their country is at war with Russia, according to a poll by the Kiev-based Razumkov Center published today. About 53 percent want to join the EU – ousted President Viktor Yanukovych’s refusal to sign an EU association agreement triggered the crisis – whereas two thirds see Russia as “brotherly” and “friendly” according to the April 25-29 poll of 2,012 people. It had a margin of error of three percentage points. Luhansk’s the self-proclaimed “peoples governor,” Valery Bolotov, was shot and wounded, probably by a sniper, news website www.0642.ua reported. His life was not in danger. Gas Deadline The rebels will start an “anti-terrorist operation” against the Ukrainian military if they refuse to leave Donetsk within 48 hours, the head of the separatist group, Denis Pushilin, said by phone yesterday. Russian gas-export monopoly OAO Gazprom informed Ukraine it must pay in advance for gas by June 2 and will receive only those supplies it pays for, risking a cutoff, company spokesman Sergei Kupriyanov said in an e-mailed statement today. Ukraine owes $3.5 billion for fuel delivered in 2013 and through April this year, Gazprom Chief Executive Officer Alexey Miller said. Ukraine, which depends on Russia for half of its gas consumption, has an opportunity to pay, as it received the first $3.2 billion of an international aid package last week, Medvedev said. Stopping shipments to Ukraine may have an effect on the rest of Europe because about 15 percent of the region’s gas supply travels through the country’s Soviet-era pipelines.
More on Ukraine: "June 2″: Why the Ukrainian crisis could soon get far worse The situation in Ukraine is changing. Here's what investors need to know. Unbelievable: Video shows brutal skirmish between Ukrainian nationalists and riot police |
| Gold Resource's (GORO) CEO Jason Reid on Q1 2014 Results - Earnings Call Transcript Posted: 13 May 2014 12:16 PM PDT Gold Resource Corp (GORO) Q1 2014 Results Earnings Conference Call May 13, 2014 11:00 AM ET Executives Jason Reid - Chief Executive Officer Joe Rodriguez - Chief Financial Officer Analysts Josh Elving - Dougherty Presentation Operator Thank you for joining Gold Resource Corporation's First Quarter Conference Call. Mr. Jason Reid, CEO, will be hosting today's call. Following Mr. Reed's opening remarks there will be a question-and-answer session. As a reminder, today's conference is being recorded. Please go ahead, Mr. Reid. Jason Reid Thank you. Good morning and thank you for joining Gold Resource Corporation's 2014 first quarter conference call. I am very pleased and proud of our first quarter results and operating performance with regard to both increased production of precious metals while substantially lowering our production costs. As you will hear throughout this conference call, we delivered an excellent operating and financial quarter. I will go in the specific |
| Demand for Indian gold jewellery to rise - analysts Posted: 13 May 2014 12:15 PM PDT India Ratings & Research suggests gold price, demand abroad, and domestic demand will benefit jewellers. |
| Gold set for another strong move - Phillips Posted: 13 May 2014 12:14 PM PDT Julian Phillips of the Gold Forecaster also notes that the price of silver is "discounting an upward move in the gold price." |
| What Will Shake Retail Investors Out Of Their Shell Shock? Posted: 13 May 2014 12:07 PM PDT Mining companies may just have one more year of tough going. Speaking about what he calls "the trough of a turning point," John Kaiser of Kaiser Research Online makes the case for retail investors to look seriously at discovery exploration while waiting for metals prices-gold in particular-to move back into a supercycle. In this interview with The Mining Report, Kaiser talks about the underpriced gold, silver and zinc juniors with staying power, and explains why scandium is a metal that could save the world. The Mining Report: The last time we talked, you predicted that the commodity supercycle would reappear in 2017. Does that mean three more years of tough going for mining companies? John Kaiser: I would say mining companies have one more year of tough going, not three. We are in a transition zone. China and the U.S. are weaning their economies off |
| Posted: 13 May 2014 12:05 PM PDT Outflows from gold-backed ETFs and stronger equities hurt the gold-price yesterday. |
| Marshall Swing: Stay Thirsty for Physical My Friends! Posted: 13 May 2014 12:00 PM PDT
 Failure to be able to see what’s coming in these perilous times will result in being left with nothing. So, buy physical my friends, whoever you are, if you are seeking to protect yourselves against the economic collapse just around the corner. I raised the buy flag last week. I do not mean these are [...] The post Marshall Swing: Stay Thirsty for Physical My Friends! appeared first on Silver Doctors. |
| Posted: 13 May 2014 11:53 AM PDT Gold futures fell as U.S. equities climbed to a record and the dollar's rally curbed demand for the metal as an alternative investment. |
| Posted: 13 May 2014 11:50 AM PDT forexlive |
| Gold backs off on dollar gains Posted: 13 May 2014 11:34 AM PDT Gold fell marginally today despite escalating tension in Ukraine and between the U.S., EU and Russia. |
| Gold ETPs report outflows of nearly 5MT so far in May Posted: 13 May 2014 11:08 AM PDT Global gold exchange-traded products have posted outflows nearly 5 metric tons so far in May, said Barclays in a research note. |
| Chinese fund offers 46% premium for Laotian gold miner Posted: 13 May 2014 11:02 AM PDT GATA |
| New data show the Federal Reserve's "secret weapon" could be running out of power Posted: 13 May 2014 10:52 AM PDT By Doug French, Contributing Editor, Casey Research: How important is housing to the American economy? If a 2011 SMU paper entitled “Housing’s Contribution to Gross Domestic Product (GDP) quot; is right, nothing moves the economic needle like housing. It accounts for 17% to 18% of GDP. And don’t forget that home buyers fill their homes with all manner of stuff—and that homeowners have more skin in insurance on what’s likely to be their family’s most important asset. All claims to the contrary, the disappointing first-quarter housing numbers expose the Federal Reserve as impotent at influencing GDP’s most important component. The Fed: Housing’s Best Friend No wonder every modern Fed chairman has lowered rates to try to crank up housing activity, rationalizing that low rates make mortgage payments more affordable. Back when he was chair, Ben Bernanke wrote in the Washington Post, ”Easier financial conditions will promote economic growth. For example, lower mortgage rates will make housing more affordable and allow more homeowners to refinance.” In her first public speech, new Fed Chair Janet Yellen said one of the benefits to keeping interest rates low is to “make homes more affordable and revive the housing market.” As quick as they are to lower rates and increase prices, Fed chairs are notoriously slow at spotting their own bubble creation. In 2002, Alan Greenspan viewed the comparison of rising home prices to a stock market bubble as “imperfect.” The Maestro concluded, “Even if a bubble were to develop in a local market, it would not necessarily have implications for the nation as a whole.” Three years later—in 2005—Ben Bernanke was asked about housing prices being out of control. “Well, I guess I don’t buy your premise,” he said. “It’s a pretty unlikely possibility. We’ve never had a decline in home prices on a nationwide basis.” With never a bubble in sight, the Fed constantly supports housing while analysts and economists count on the housing stimulus trick to work. 2014 GDP Depends on Housing “There’s more expansion ahead for the housing market in 2014, with starts and new-home sales continuing to rise at double-digit rates, thanks to tight inventory,” writes Gillian B. White for Kiplinger. The “Timely, Trusted Personal Finance Advice and Business Forecast(er)” says GDP will bounce back. Fannie Mae Chief Economist Doug Duncan says, “Our full-year 2014 economic forecast accounts for three key growth drivers: an acceleration in spending activity from private-sector forces, waning fiscal drag from the federal government, and continued improvement in the housing market.” We’ll see about that last one. Greatest Housing Subsidy of All Time Running Out of Gas With the central bank flooding the markets with liquidity, holding short rates low, and buying long-term debt, mortgage rates have been consistently below 5% since the start of 2009. For all of 2012, the 30-year fixed mortgage rate stayed below 4%. In the post-gold-standard era (after 1971), rates have never been this low for this long. The Fed’s unprecedented mortgage subsidy has helped the market make a dead-cat bounce since the crash of 2008. After peaking in July 2006 at 206.52, the Case-Shiller 20-City composite index bottomed in February 2012 at 134.06. It had recovered to 165.50 as of January. However, while low rates have propped up prices, sales of existing homes have fallen in seven of the last eight months. In March re-sales were down 7.5% from a year earlier. That’s the fifth month in a row in which sales fell below the year-earlier level. David Stockman writes, “March sales volume remained the slowest since July 2012.” He listed 13 major metro areas whose sales declined from a year ago, led by San Jose, down 18%. The three worst performers and 6 of the bottom 11 were California cities. Las Vegas and Phoenix were also in the bottom 10, with sales down double-digits from a year ago. This after housing guru Ivy Zelman told CNBC in February, “California is back to where it was in nirvana.” Considering the entire nation, she said, “I think nirvana is not far around the corner… I think that I have to tell you, I’m probably the most bullish I’ve ever been fundamentally, and I’m dating myself, been around for over 20 years, so I’ve seen a lot of ups and downs.” Housing Headwinds Housing is contributing less to overall growth than during both the days of 20% mortgage rates in the 1980s and the S&L crisis of the early 1990s. In Phoenix, where home prices have bounced back and Wall Street money has vacuumed up thousands of distressed properties, the market has gone flat. In Belfiore Real Estates’ April market report, Jim Belfiore wrote, “The bad news for home builders is they have created a glut of supply in previously hot market areas… Potential buyers, as might be expected, feel no sense of urgency to buy because they believe this glut is going to exist indefinitely.” Nick Timiraos points out in the Wall Street Journal that with a 4.5% mortgage rate and prices 20% below their peak, “… homes are still more affordable than in most periods between 1990 and 2008.” So why is demand for new homes so tepid? And why have refinancings fallen 58% year-over-year in the first quarter? “Housing’s rocky recovery could signal weakness more broadly in the economy,” writes Timiraos, “reflecting the lingering damage from the bust that has left millions of households unable to participate in any housing recovery. Many still have properties worth less than the amount borrowers owe on their mortgages, while others have high levels of debt, low levels of savings, and patchy incomes.” More specifically, “So far we have experienced 7 million foreclosures,” David Stockman, former director of the Office of Management and Budget, writes. “Beyond that there are still nine million homeowners seriously underwater on their mortgages, and there are millions more who are stranded in place because they don’t have enough positive equity to cover transactions costs and more stringent down payment requirements.” Young people used to drive real estate growth, but not anymore. The percentage of young home buyers has been declining for years. Between 1980 and 2000, the percentage of homeowners among people in their late twenties fell from 43% to 38%. And after the crash, the downtrend continued. The percentage of young people who obtained mortgages between 2009 and 2011 was just half what it was ten years ago. Young people don’t seem to view owning a home as the American dream, as was the case a generation ago. Plus, who has room to take on more debt when 7 in 10 students graduate college with an average $30k in student loan debt? “First-time home buyers are typically an important source of incremental housing demand, so their smaller presence in the market affects house prices and construction quite broadly,” Fed Chairman Ben Bernanke told homebuilders two years ago. There’s not much good news for housing these days. For a little while, the Fed’s suppression of interest rates juiced housing enough to distract Americans from weak job creation and stagnant real wages. Don’t have a job? No problem! Just borrow against the appreciation of your house to feed your family. But Yellen’s interest rate wand looks to be out of magic. The government had a pipe dream of white picket fences for everyone. But Americans can’t refinance their way to wealth. Especially in the Greater Depression.
More on the Federal Reserve: Fed Chair Yellen: The "Bernanke Asset Bubble" is here to stay This surprising development could put an end to the Fed's "credit party" History says the Federal Reserve could be making a disastrous mistake right now |
| Copper Succumbs to Disappointing China news Posted: 13 May 2014 10:50 AM PDT Data out of China today noting that industrial output rose "only" 8.7% against expectations of a 8.9% increase, brought some selling into the red metal. Traders viewed the news as confirmation, in their minds, that China is slowing down. Copper had put in a nice move higher yesterday finally clearing stubborn chart resistance near 3.13. Today's setback is disappointing to bulls but the dip remains relatively shallow. I am keeping a close eye on the chart of this key metal to gauge how investors/traders are sizing up the overall global economy. The silver bulls should be hoping that copper remains firm. I will never understand that crowd as they speak out of one side of their mouth trashing any positive economic news and yet, out of the other side, regale us will tales of soaring silver prices. They fail to grasp the utter illogic of their own discombobulated theories. If they want silver higher, then they need to cheer for improving economic news, especially any sort of news that would indicate the Velocity of Money might be starting to pick up. In other words, they should be cheering for growth and inflation that tends to accompany it. Silver needs inflation and solid economic growth to move higher - Period! It will not thrive if the equity markets crater and traders begin to fear deflation and or slowing growth. The S&P 500 made another try at the 1900 level but could not manage to clear it ( yet). It did manage to make a new all-time high ( basis the emini futures) but so far cannot extend and change handles. I am observing with some strong interest the fact that long term interest rates are moving lower today. That is odd to say the least. The biggest news of the day in my view concerns the German Bundesbank. Anyone who has traded currencies for any length of time, but particularly the old-timers who used to trade the Deutschmark, should be more than familiar with the conservative views of this Central Bank. It has a long history of dreading inflation and anything that might contribute to it (call it a lesson going back to the Weimer Republic days). There seems to be a slight shifting of the views of the Bank; at least in the sense that it is no longer as vigorously opposed to some of the "unconventional" approaches to monetary policy. We are of course talking mainly about Quantitative Easing or Bond buying programs. It appears that deflationary concerns have even this Central Bank a bit uneasy. Dow Jones, referencing a report in the Wall Street Journal noted that the Bundesbank is "open to significant monetary stimulus at the ECB's next interest rate meeting if conditions warrant it". That sent the Euro cascading lower as traders tied the news article to comments from ECB President Draghi made last week with the idea that Draghi would not have made the comments without at least ascertaining the mind of the Bundesbank on the matter. The take away from this is that forex traders are baking into the cake some sort of stimulus measure coming out of next month's ECB meeting. If they do not deliver however, and the case is far from certain, watch for the Euro to pop higher. Between now and then, European economic data is going to be closely monitored for clues as to whether or not the ECB will indeed take some sort of action.  With the Euro moving sharply lower, the US Dollar is higher and is back above the 80 level basis the USDX. That seems to be pressuring gold somewhat although it continues to garner buying support from Ukrainian related issues. The yellow metal remains rangebound. Very noteworthy is the fact that once again, GLD, reported yet another drop in holdings. This time it was 2.4 tons. Rallies in gold are being used by investors to exit their GLD holdings with it looking more and more like they are willing to put the money to work in the equity markets where the big gains are to be made. Western-based investors are losing interest in gold unless it is to sell it on rallies. Soybean traders are back to buying old crop beans again as they continue to bank on strong demand to deplete supplies before this year's crop is harvested. They have managed to push May beans ( which is in its delivery period) back over the $15 mark. In the recent past that level has tended to shut off some demand or at least start getting end users to source from outside of the country. We'll see if that is the case. Wheat continues lower as traders are focused on the recent rains in the Plains. That is all for now... will see what happens later on and comment on it if need be and if time permits. |
| Tim Geithner Admits “Too Big To Fail” Hasn’t Gone Anywhere (And That’s the Way He Likes It) Posted: 13 May 2014 10:45 AM PDT
But it is now clear that Geithner never believed his own talking points. To him, too-big-to-fail and the so-called moral hazard, or safety net, that it would create can't really ever be fully taken away. During his lecture to Summers's class, one student asked a question about "resolution authority," a provision of the reform laws [...] The post Tim Geithner Admits "Too Big To Fail" Hasn't Gone Anywhere (And That’s the Way He Likes It) appeared first on Silver Doctors. |
| Fortuna Silver revenue, Gold and Silver output hit record level in Q1 Posted: 13 May 2014 09:34 AM PDT Fortuna Silver Mines reached a record in revenue of $45.5 million in the first quarter of this year as well as record silver and gold production, at 1,536,859 and 8,150 ounces respectively. |
| Elites Are Running Out of Time & Options Posted: 13 May 2014 09:30 AM PDT
 The elites are running out of time and options. They are not stupid by any stretch of imagination, but they know a losing hand when they see one. The die is cast. The US dollar will die. Much of the rest of the world will move on and recover. The United States will not. Its de facto government has [...] The post Elites Are Running Out of Time & Options appeared first on Silver Doctors. |
| Deepcaster: Nasty Market Surprises Await Investors Posted: 13 May 2014 09:30 AM PDT
 Bogus Official Numbers and Fed QE (et al) policies have artificially inflated Equities Prices – they are a "Mirage" as Carl Icahn says. And they have greatly distorted other Markets' Prices as well. Indeed, if one looks at the Real Numbers, one realizes the Economy is not recovering and is in fact weakening. And on [...] The post Deepcaster: Nasty Market Surprises Await Investors appeared first on Silver Doctors. |
| Posted: 13 May 2014 08:48 AM PDT Internet and small-cap shares rallied while the Dow Jones Industrial Average hit a record today. |
| If you're a fixed-income investor, you should see this now Posted: 13 May 2014 08:36 AM PDT From Bloomberg: Take a look at the corporate bonds in your portfolio. A real close look. Are you wed to everything you hold? Are there any bonds you feel are missing? With summer approaching fast in the U.S., your window of opportunity to cull the unwanted and buy the securities you desire without the hassle of having to scour the market for a counterparty is about to close. The traditional June-to-August slowdown in trading is becoming more pronounced after Wall Street stopped using so much of its own money to facilitate transactions. Bond dealers have become increasingly reliant on new debt sales to spur activity ñ – and those typically evaporate during the U.S. summer months. So it’s either trade now or run the risk of being stuck with what you have until colder weather brings traders back from the beach and the golf course. “We recommend investors focus on realigning the portfolio in the upcoming weeks, while the liquidity window is still wide open,” Wells Fargo & Co. (WFC) credit strategists George Bory and Nathaniel Rosenbaum said in a May 9 report. As trading becomes more focused around new issues, “seasonality has increased, with the summer months being perennially illiquid.” Their advice underscores a growing concern among investors that the ability to maneuver in a ballooning debt market may simply vanish one day, especially as Wall Street dealers curtail their market-making role. That flexibility often disappears when investors need it most, such as when they’re receiving big withdrawals. So the worry is particularly poignant given demand may shift away from the bond market as the Federal Reserve pulls back on its stimulus. Record Sales Now that higher capital requirements and new regulations have led banks to retreat from using their balance sheets to help trading, new bond sales have increasingly become the main force behind activity since the 2008 credit crisis. New issuance ignites volumes in part because funds sell holdings to make room for new securities. More than five years of near-zero interest rates from the Fed has helped spur about $7 trillion of dollar-denominated corporate debt sales. Bond offerings have been met by feeding frenzies of investors seeking riskier assets, who’ve been tripping over each other to buy and are largely unwilling to sell once they’ve gotten a piece. Yet even with the record sales, trading has been relatively flat. Investment-grade bond-trading volumes have averaged about $3 trillion of transactions during each of the past four years, even though the amount of debt outstanding has surged by about 54 percent, according to MarketAxess Holdings (MKTX) Inc. and Bank of America Merrill Lynch index data. Sales Lull And now that the sun is out, corporate treasurers are about to head out to work on their golf games. Last June, company-bond issuance in the U.S. plunged 65 percent from the month earlier, after dropping 26 percent during the same period in 2012, according to data compiled by Bloomberg. Trading dropped 3 percent last June from May even as mounting withdrawals from bond funds forced managers to sell. The year before, it fell 8 percent, according to data from the Financial Industry Regulatory Authority. This doesn’t bode well for investors who want to reshuffle their portfolios in a few weeks. So, there is a time to sell, and a time to buy. Now may be the time to do both.
More on bonds: "Bond God" Gundlach: Why everyone is wrong about U.S. Treasurys These popular bonds are the "most over-valued in history" Doc Eifrig: These income investments have the safety of bonds and the powerful upside of stocks |
| Posted: 13 May 2014 08:25 AM PDT investing |
| Gold to Hold, Fold, or Explode? Posted: 13 May 2014 08:25 AM PDT investing |
| Alasdair Macleod on Inequality & Piketty: Are Global Wealth Taxes the Solution to Financial Crisis? Posted: 13 May 2014 08:15 AM PDT
 It is a sign of the times that a 700-page book by an obscure French economist turns out to be a surprise best-seller. Thomas Piketty has been feted by heavyweight Nobel prize-winning economists, such as Paul Krugman, Robert Stiglitz and Robert Solow. These names give us a clue to his thesis, that capitalism is responsible [...] The post Alasdair Macleod on Inequality & Piketty: Are Global Wealth Taxes the Solution to Financial Crisis? appeared first on Silver Doctors. |
| Master trader Clark: The one chart you need to watch this week Posted: 13 May 2014 08:06 AM PDT From Jeff Clark, editor, S&A Short Report: It’s almost time to head for the exits. Last month, we bought stocks in anticipation of a rally going into the end of the month. The S&P 500 has rallied about 4% since then. A few weeks ago, I told you to keep an eye on the Volatility Index (the “VIX”) to know when to sell and take profits. The VIX hasn’t triggered the “sell” signal yet. But it’s getting close. And we may get the signal this week… Take a look at this updated chart of the VIX plotted along with its Bollinger Bands…
Bollinger Bands measure the most probable trading range for a stock or an index. Whenever a chart moves outside of its Bollinger Bands, it indicates an extreme condition – either extremely overbought or extremely oversold. Since the VIX is a contrary indicator, it’s best to buy stocks when the VIX is extremely overbought. It’s best to sell stocks when the VIX is extremely oversold. The blue arrows on the chart point to the times when the VIX traded above its upper Bollinger Band and then fell back below it. Those are “buy” signals. We got one in mid-April. That’s what prompted us to buy stocks then. The red arrows point to times when the VIX fell below its lower Bollinger Band and then closed back above it. Those are “sell” signals. There have only been two during the past year. Each one was followed by a modest decline of between 2% and 5% in the S&P 500. Yesterday, the VIX dropped to one of the lowest levels of the year. That coincided with the S&P 500 rallying to a new all-time high. There’s still room for the VIX to fall a bit more before dropping below its lower Bollinger Band. So there’s still a bit more upside left for the stock market. But this bounce off the April lows has just about run its course. Traders need to pay close attention to the VIX right now. Once it closes below its lower Bollinger Band, it’ll be time to take profits and get out of the stock market.
More from Jeff Clark: Master trader Clark: The next major gold rally is starting now Top trader Clark: Watch for this sign the rally in stocks is over Master trader Clark: A must-see update on silver |
| Silver In Backwardation- Sudden Premium Spike Suggests Physical Silver Shortage Hits Shanghai Posted: 13 May 2014 07:30 AM PDT
 Two events currently suggest a possible shortage of physical silver in Shanghai. The first; premiums for spot silver on the SGE have been rising significantly since March 17. From the weekly Chinese SGE reports we can see Shanghai silver prices have reached a premium to international prices of 4 % (official SGE numbers as of 4/30). If [...] The post Silver In Backwardation- Sudden Premium Spike Suggests Physical Silver Shortage Hits Shanghai appeared first on Silver Doctors. |
| Gold constrained in narrow range, PGM prices gain on South Africa strikes: ETFS Posted: 13 May 2014 06:58 AM PDT Ukraine crisis kept ETF inflows positive but US dollar which gain on the back of strong US economic data and rising expectations the ECB may be forced to quantitative ease to offset deflation. |
| Russian Economic Power Driving Wedge Between Indebted Western Governments Posted: 13 May 2014 06:33 AM PDT gold.ie |
| Russian Economic Power Driving Wedge Between Indebted Western Governments Posted: 13 May 2014 04:03 AM PDT With Western nations heavily indebted including the hugely indebted U.S., Russia looks like the only realistic source of such funds. Geopolitical risk remains very much underestimated and there remains the risk of financial, economic and currency wars where the Russians use gold as a geopolitical weapon to undermine the dollar. Today's AM fix was USD 1,292.75, EUR 939.91 and GBP 766.67 per ounce. Gold climbed $8.00 or 0.62% yesterday to $1,296.70/oz. Silver surged $0.40 or 2.09% to $19.55/oz.
Gold fell marginally today despite escalating tension in Ukraine and between the U.S., EU and Russia. Dollar gains were cited for the fall. The government in Kiev has been given a deadline to pay for Russian gas to prevent a supply cut off. The U.S. is holding a massive nuclear weapons exercise this week from yesterday May 12 to Friday May 16. It is being held in coordination with other combatant commands, services, and appropriate U.S. government agencies, “to deter and detect strategic attacks,” days after a similar Russian drill. Eastern Ukraine states voted in a plebiscite to join Russia but the referendums have been disputed. Bullion for immediate delivery declined 0.4% to $1,290.44 an ounce, Singapore gold traded at $1,292.03 by 2:40 p.m., according to Bloomberg and their generic pricing. Silver for immediate delivery declined 0.6% to $19.426 an ounce after yesterday's gain. Platinum lost 0.1% to $1,435.75/oz, while palladium slid 0.1% but remained over $800/oz at $805.61/oz.
The dollar climbed to the highest in a week versus the yen and traded near the strongest in a month against the euro. Data today is forecast to show U.S. retail sales rose for a third month. A worse than expected sales number should see gold make gains and a better than expected number may see gold fall. Gold has rallied 7.5% this year, partly due to safe haven demand as tensions rise between Russia and the West. Russian Economic Power Driving Wedge Between Indebted Western Governments Policy makers say they are concerned that broad-brush sanctions on Russia's energy and financial sectors, the two areas mentioned as possible targets, risk provoking economically costly retaliation by Russia according to Bloomberg. Gazprom, Russia's massive gas-export monopoly, yesterday threatened to cut off supplies to Ukraine, a reminder of the power Russia wields over energy supplies to the rest of Europe. A gas cutoff by Russia would wipe out half of Ukraine's supply and could severely disrupt supplies to the EU. The EU, Turkey, Norway, Switzerland and the Balkan countries received 30% of the natural gas they burned from Russia last year, according to the U.S. Energy Department. "We have to be very careful not to hurt ourselves more than we hurt the other side," Polish Foreign Minister Radoslaw Sikorski said yesterday in a speech in Brussels, echoing comments made by U.S. Treasury Secretary Jacob J. Lew last week. In a sign of Russia's ability to use its economic power to drive a wedge between its former G20 allies, France's government said this week it will deliver Mistral helicopter carrier warships to Russia as planned, thus rejecting requests from its European and U.S. allies to cancel the sale. There are also significant dependencies on Russian grain exports, particularly in the EU. It looks the pragmatists and non ideologues may be gaining the upper hand over the more hawkish western voices who were risking conflict with Russia, potentially militarily. Russia is powerful both in terms of natural resources and in terms of finances given their very significant foreign exchange reserves. Ukraine is bankrupt and on the verge of hyperinflation as we pointed out here. Ukraine desperately needs some $20 billion to avoid financial collapse. With Western nations heavily indebted including the hugely indebted U.S., Russia looks like the only realistic source of such funds. Geopolitical risk remains very much underestimated and there remains the risk of financial, economic and currency wars where the Russians use gold as a geopolitical weapon to undermine the dollar. |
| Gold price forecast 2014: BNP Paribas revises up to $1,255 an ounce from $1,095 Posted: 13 May 2014 03:50 AM PDT French bank BNP Paribas has revised up its this year average gold forecast to $1,255 an ounce from $1,095 previously, as a number of factors led to strong technical support around $1,200 an ounce and a range-bound market. The bank listed a fresh forecast Monday, its first since November. |
| Gold Price Analysis- May 13, 2014 Posted: 13 May 2014 03:30 AM PDT dailyforex |
| How Gold performs about 100 day moving avg Posted: 13 May 2014 03:28 AM PDT Traders will be watching to see how gold performs about the 100-day moving average, in turn near a 50% Fibonacci retracement retracement level, said Mitsubishi. |
| Gold affected by the negative momentum – Analysis - 13/05/2014 Posted: 13 May 2014 03:25 AM PDT economies |
| Silver Forecast May 13, 2014, Technical Analysis Posted: 13 May 2014 02:30 AM PDT fxempire |
| Gold, Silver Bulls Defend Key Support Zones, China Data Eyed Posted: 13 May 2014 02:30 AM PDT livetradingnews |
| US Dollar Bottom Comfirmation Pending, SPX 500 Eyeing 1900 Anew Posted: 13 May 2014 02:25 AM PDT dailyfx |
| US Dollar Finds Support, Bias Is Bullish Posted: 13 May 2014 02:25 AM PDT yahoo |
| Junk silver coins : Why 90% junk silver coins are worth the investment? Posted: 13 May 2014 02:24 AM PDT 2 clicks |
| Chinese Gold Demand Running at Rate of 2,000 Tonnes Per Year Posted: 13 May 2014 02:21 AM PDT "Someone defending a short position, perhaps?" ¤ Yesterday In Gold & SilverAs is usually the case, the price pressure on gold was of the downward nature at the 6 p.m. New York opening on Sunday evening. But the spike down shortly before 8 a.m. Tokyo time ran into some decent buying---and the price was back to unchanged noon Hong Kong time. It drifted five bucks higher during morning trading in London---and then took off to the upside---and back above $1,300 spot---at the New York open in what all the appearances of a 'no ask' market. That state of affairs lasted for a good 10 minutes before a seller of last resort put in an appearance---and from there, gold got sold down to its New York open by the 5:15 p.m. close of electronic trading---and back below $1,300 spot, of course. The low and high ticks according the to the CME were $1,277.70 and $1,304.50 in the June contract. Gold finished the Monday session at $1,295.70 spot, up $5.60 from Friday's close. Net volume was not overly heavy at 103,000 contracts, but a decent chunk of that came during the first few hours of Far East trading. The silver price action was very similar to gold's, except for the smallish rally that began shortly after the London a.m. gold fix. That wasn't allowed to go very far---and the big rally at the New York open got dealt with in the usual manner. The low and high price ticks in silver were reported as $19.045 and $19.67 in the July contract, an intraday move of more than 3%. The silver price closed in New York yesterday at $19.50 spot, up 34.5 cents from Friday. Volume, net of May and June, was pretty heavy at 45,000 contracts, with about 20% of that amount occurring before lunch in Hong Kong. Platinum and palladium prices also got sold down a bit at the New York open on Sunday night, with both back to unchanged by noon Hong Kong time. Their rallies that began around 11 a.m. in Zurich didn't get far---and most of their slender gains disappeared in late trading in New York. Here are the charts. The dollar index closed late on Friday afternoon in New York at 79.87---and did virtually nothing during the entire Monday trading session. It finished the day basically unchanged at 79.88. Here's the US$ Index chart which includes the Friday trading day in North America. The gold stocks gapped up a bit less than 2% at the open---hitting their high ticks around 10:30 a.m. in New York---then gradually weakened as the trading session wore on, giving up about a percent of their gains in the process. The HUI finished up 1.23%. It was an entirely different chart pattern for the silver equities. They hit their high shortly after noon in New York---and then slide back to unchanged by 2:15 p.m. EDT. They barely finished above unchanged, as Nick Laird's Intraday Silver Sentiment Index closed up 0.15%. I was underwhelmed. The CME Daily Delivery Report showed that 2 gold and 192 silver contracts were posted for delivery within the Comex-approved depositories on Wednesday. In silver, the big short/issuer was Jefferies once again with 173 contracts out of its in-house [proprietary] trading account, along with another 10 contracts issued from its client account. JPMorgan stopped 96 contracts---and the second biggest long/stopper was Credit Suisse with 27 contracts. There was whole raft of other stoppers as well. The link to yesterday's Issuers and Stoppers Report is here---and it's worth a quick peek. After 10 days of no activity, there was finally a withdrawal from GLD yesterday, as an authorized participant took out 77,044 troy ounces. And as of 6:28 p.m. EDT early yesterday evening, there were no reported changes in SLV. Late last week the good folks over at the shortsqueeze.com Internet site update their website with the new short positions in both GLD and SLV for the end of April---and there were decent increases in both metal. The short position in SLV increased by a chunky 19.84%---from 12.44 million shares/troy ounces to 14.90 million shares/troy ounces. The GLD ETF increased by 14.80%---from 1.00 million troy ounces, up to 1.15 million troy ounces. This is what silver analyst Ted Butler had to say about it in his weekly commentary to his paying subscribers on Saturday: "The increase in SLV, while sizable in percentage terms, equates to 500 COMEX contracts and just over 4.3% of total shares outstanding. In GLD, the short position increased to 4.4% of total shares outstanding. Over the past few months the short positions in SLV and GLD have declined noticeably, so I am not inclined to hit the panic switch at this time. There always exists the possibility, particularly in SLV, that shares were shorted because physical silver was not available for deposit, but more data is needed before definitely concluding that." Surprisingly enough, there was no sales report from the U.S. Mint yesterday. But it was a different story over at the Comex-approved depositories on Friday, as HSBC USA took in a big chunk of gold again. This time it was 156,217 troy ounces. The link to that action is here. Friday was also another big day for silver as well. They reported receiving 991,932 troy ounces---and shipped out only 139,689 troy ounces. The link to that activity is here. Here's Nick Laird's updated chart for Chinese gold imports through Hong Kong for the month of March. As time goes on, I would expect that China will import less through Hong Kong where their imports are visible---and more through their new imports-through-Beijing policy that's due to start in June, I believe. However, I doubt very much that their total gold imports overall will change much---and the chart posted below still speaks volumes. Before hitting the stories, here's a little eye candy that I found tucked away in the "Documents" section of my computer. I know I've posted it before, but I just can't remember when. I don't have all that many stories for you today---and the final edit is yours. ¤ Critical Reads Boom times for bank trading have gone, and may never come backThe boom years of financial market trading, when banks made unprecedented profits from bonds, currencies and commodities, may be over for good as financial firms realize there will be no cyclical upswing on their dealing desks. Even though it's taken Western economies several years to regain pre-crisis national output levels, many doubt banks will ever revisit the pre-crisis high watermark of their trading activities. Revenues from fixed income, currencies and commodities - the so-called 'FICC' universe - continued to tumble for most major U.S. and European banks during the first quarter of 2014, increasing the pressure on them to rethink business models. This Reuters article from Sunday found a home over at the news.yahoo.com Internet site yesterday---and I thank reader Harry Grant for today's first story.  Jeff Thomas: Understanding HyperinflationAbout a year ago, we began to advise those internationalising themselves that the time had arrived at which they might consider divesting themselves of currencies—that holding bank notes may soon become a risky business. Whilst we stressed that the danger of loss of wealth due to the holding of bank notes was not imminent, it is time-consuming to divest oneself of them, and it is better to make a move well in advance of a loss than to make the decision even one day too late. As the Great Unravelling progresses, there will be a number of risks in holding wealth in bank notes, but three main categories are likely in the coming years: Loss due to confiscation, loss due to inflation---and loss due to hyperinflation. This very interesting commentary was posted over at Casey Research yesterday---and I thank Nick Giambruno, senior editor at the internationalman.com website for bringing it to our attention.  Glenn Greenwald: how the NSA tampers with U.S.-made Internet routersFor years, the US government loudly warned the world that Chinese routers and other internet devices pose a "threat" because they are built with backdoor surveillance functionality that gives the Chinese government the ability to spy on anyone using them. Yet what the NSA's documents show is that Americans have been engaged in precisely the activity that the US accused the Chinese of doing. But while American companies were being warned away from supposedly untrustworthy Chinese routers, foreign organisations would have been well advised to beware of American-made ones. A June 2010 report from the head of the NSA's Access and Target Development department is shockingly explicit. The NSA routinely receives – or intercepts – routers, servers and other computer network devices being exported from the US before they are delivered to the international customers. The agency then implants backdoor surveillance tools, repackages the devices with a factory seal and sends them on. The NSA thus gains access to entire networks and all their users. The document gleefully observes that some "SIGINT tradecraft … is very hands-on (literally!)". Hypocrisy with a capital "H" dear reader. This article showed up on The Guardian website late Monday evening BST---and it's courtesy of South African reader B.V.  U.K. banks cut savings interest by £1bn in a yearBanks and building societies have reduced the interest paid to savers by almost £1bn in a year, The Telegraph can disclose. The claw-back, some of which has been conducted behind closed doors, has taken the form of a series of brutal cuts to both old and new savings accounts - despite the official Bank Rate remaining unchanged for a fifth year. It has left millions of people either unaware of the attack on their incomes or with little option but to accept much lower returns as better-paying accounts were cut severely or fixed-rate deals ended. This news items was posted on the telegraph.co.uk Internet site yesterday morning BST---and I thank U.K. reader Tariq Khan for sending it our way.  End of oil boom threatens Norway's welfare modelNorway's energy boom is tailing off years ahead of expectations, exposing an economy unprepared for life after oil and threatening the long-term viability of the world's most generous welfare model. High spending within the sector has pushed up wages and other costs to unsustainable levels, not just for the oil and gas industry but for all sectors, and that is now acting as a drag on further energy investment. Norwegian firms outside oil have struggled to pick up the slack in what has been, for at least a decade, almost a single-track economy. Norway had the foresight to put aside a massive $860 billion rainy-day cash pile, or $170,000 per man, woman and child. It also has huge budget surpluses, a top-notch AAA credit rating and low unemployment, so tangible decline is not imminent. But costs have soared, non-oil exporters are struggling, the government is spending $20 billion more oil money this year than in 2007 and the generous welfare model, which depends on a steady flow of oil tax revenue may not be preparing Norwegians for tougher times. This very interesting Reuters essay appeared on their Internet site last Thursday and I thank Harry Grant for sending it to me on Sunday. It's worth the read as well.  Italy minister attacks Merkel's "crippling" caution on E.U. vote German Chancellor Angela Merkel risks undermining upcoming elections for the European Parliament with her "crippling" and short-sighted views, Italy‘s junior minister for European Union affairs charged Monday.  2 Banking Giants Implore U.S. Authorities to Go EasyTwo of the world’s biggest banks, facing the threat of criminal charges, are mounting final bids for leniency. To avoid the fallout from pleading guilty — no giant bank has done so in more than two decades — BNP Paribas and Credit Suisse made last-ditch appeals to prosecutors and regulators in recent weeks, according to people briefed on the talks. The private meetings came after prosecutors sought guilty pleas from the parent companies of both banks: BNP of France over doing business with countries like Sudan that the United States has blacklisted, and Credit Suisse for offering tax shelters to wealthy Americans. While BNP and Credit Suisse proposed more modest guilty pleas from their subsidiaries rather than parent companies, the people briefed on the talks said, prosecutors appeared to balk at those overtures, challenging broader public concerns that banks have grown so important to the economy that they are effectively “too big to jail.” Too bad it's not American bankers that are going to jail, as the big five or six U.S. bank CEOs richly deserve to be there. This longish article appeared on The New York Times website late Sunday evening EDT---and I thank Phil Barlett for sharing it with us. The E.U.'s approach to Ukraine has been catastrophicArguing that the E.U. blundered badly in Ukraine doesn’t mean you support Putin. That really shouldn’t need saying. Let me get the Godwin’s Law reference out of the way right at the beginning: most historians believe that Neville Chamberlain could have played his hand better in 1938, but this doesn’t make them Nazis. The West in general, and the E.U. in particular, chose to intervene directly in domestic Ukrainian politics, backing opponents of the thuggish but none the less freely-elected President Yanukovych. It doesn’t seem to have occurred to them that they were thereby inviting others to intervene. Ukraine was always going to matter more to Moscow than to Brussels, yet EU diplomats seemed genuinely nonplussed when, after they had sponsored undemocratic regime change in Kiev, Putin did the same in Crimea. To repeat, none of this is to exculpate the Russian leader. He runs a paranoid and autocratic regime, in which opponents are imprisoned, critics harassed, journalists murdered. Annexing Crimea was not simply a violation of the law of nations; it was an explicit betrayal of Russia’s solemn promises to respect its neighbour’s territorial integrity. Ukraine is not the first country to have felt the weight of Putin’s revanchism; which makes the EU’s decision to goad him from a position of weakness even more bewildering. This op-ed piece showed up on The Telegraph's website on Sunday sometime---and it's the third offering of the day from reader B.V.  Russian Dilemma: Why E.U. Sanctions are a BluffWhile the E.U. currently shows a united front on possible economic penalties against Russia for its interference in Ukraine, that could change once more serious sanctions are on the table. Germany is struggling to maintain the facade. European Union politicians don't like to be outdone when it comes to showing resolve. Last week, French Foreign Minister Laurent Fabius said that if the Russians continue acting like they have, then tough new sanctions will need to be imposed. His British colleague William Hague said that economic sanctions were being planned. German Chancellor Angela Merkel threatened last Thursday that if there were problems surrounding the Ukrainian elections, "there would be further sanctions." These strong words are the West's answer to Moscow's expa |
| Posted: 13 May 2014 02:21 AM PDT  Three King World News Blogs 1. John Embry: "Russia and China to Bring on Worst Nightmare For U.S. Authorities" 2. James Turk: "Silver is One of the Best Buys on the Planet Today" 3. Richard Russell: "I Saw Bread Lines, Babe Ruth and the Graf Zeppelin" |
| PICTURED: Miners' hard life now tinged with fea Posted: 13 May 2014 02:21 AM PDT  PICTURED: Miners' hard life now tinged with fea They sweat through 28-hour shifts in the malarial jungle of the Madre de Dios region of southeastern Peru, braving the perils of collapsing earth and limb-crushing machinery to come up with a few grams of gold. Most wildcat miners hail from impoverished highlands communities and barely earn subsistence wages. They chew coca leaf, a mild stimulant, to ward off the fatigue that can lead to fatal accidents. Life is cheap in the mining camps. Deaths go unrecorded and the mercury they use to bind gold flecks compounds the risks. It doesn't just seep into the food chain. It poisons them and their families, too. This Associated Press photo essay was posted on the dailymail.co.uk Internets site in the wee hours of yesterday morning BST---and it's certainly worth you time, even if you only skim the text and look at the photos. It's the first offering of the day from Manitoba reader Ulrike Marx. |
| Peru, Colombia to join forces to combat illegal mining Posted: 13 May 2014 02:21 AM PDT  Peru, Colombia to join forces to combat illegal mining Peru’s High Commissioner for Formalization of Mining, Daniel Urresti, has announced that the governments of Peru and Columbia will partner in their first joint operation to combat illegal gold mining. Official Peru state news agency, Andina, reported that the meeting in Colombia will take place in the near future. Since Peru’s ban on illegal mining went into effect on April 19, police officers and military troops have destroyed US$20 million worth of heavy equipment, including backhoes, excavators, wheel loaders, dump trucks, large mining dredges, and boats and rafts used for illegal mining in the district of Huepetuhe in the region of Madre de Dios. They have also removed fuel tanks used by illegal mining in Madre de Dios. Colombia’s Congress has enacted legislation which also controls the distribution, transportation and marketing of chemicals that can be used in illegal mining. This gold-related news item, the second one in a row from Ulrike Marx, was posted on the mineweb.com Internet site yesterday. |
| Posted: 13 May 2014 02:21 AM PDT  Dubai goes for gold I've posted at least one story about this event during the last thirty days, but here's a 1:26 minute Reuters video clip that covers this gold-related news item. It found a home on the news.yahoo.com Internet site yesterday some time---and I thank reader Brian Farmer for digging it up on our behalf. It's worth watching. |
| Posted: 13 May 2014 02:21 AM PDT  Sprott Money Weekly Wrap Up In commentary from last Friday, Eric Sprott talks about the new gold and silver bill passed by the Oklahoma state legislature---and also about gold refining capacity. It runs for 8:12 minutes---and was posted on the sprottmoney.com Internet site. It's worth listening to. |
| John Embry: Book lays bare chicanery of western governments Posted: 13 May 2014 02:21 AM PDT John Embry: Book lays bare chicanery of western governments There hadn't been a thing posted on John Embry's webpage at sprott.com since December 13, 2013---and I finally decided to check to see what that was all about. Well, within one business day, this commentary, plus the one below, appeared on his website. |
| Gold, silver now building big technical bases Posted: 13 May 2014 02:21 AM PDT Gold, silver now building big technical bases This is the second of two commentaries by John that showed up on his website yesterday. This one also is courtesy of the Investor's Digest of Canada website---and it was originally posted there on April 14. This---and the prior commentary by John---should be on your must read pile today. |
| India's gold imports plunge in April Posted: 13 May 2014 02:21 AM PDT India's gold imports plunge in April As gold smuggling in India surges, official imports continue to wither. According to trade figures revealed by the government at the end of last week gold imports declined over 74% to $1.75 billion in April, as compared to the same month a year ago, given the government's large scale import restrictions. Imports of the precious metal were $6.78 billion in April last year. Lower imports have helped narrow the country's trade deficit to $10 billion in the first month of the current fiscal. However, jewellers have been facing a severe scarcity of the precious metal given the lower imports by private banks. This gold-related news story, filed from Mumbai, was posted on the mineweb.com Internet site yesterday sometime---and I thank Ulrike Marx for her third contribution to today's column. |
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