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- Currency Wars Deepen – Russia, Kazakhstan Buy Massive 30 Tons Of Gold In August
- Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs
- CHARTS : Gold Price Very Close to an Important Low
- Ready Or Not…The Unsustainable Status Quo is Ending
- Technical Analysis: All Metals Weak, Gold Bull Market Over For Now
- Cattle Bulls Should be Careful
- Alasdair Macleod on Hyperinflation: Valuing Gold & Turkey-Farming
- Singapore lures investors with kilobar gold contract
- Bearish sentiments continue to cloud Gold, support $1203
- Gold's good month - forget it this year
- Technical Analysis: All Metals Weak, Gold Bull Market Over For Now
- Markets At a Glance: Has Ebola Reached a Tipping Point?
- Emerging Market Currencies Under Pressure
- How long Indonesia probe into deadly Freeport mining accident may take
- China gold demand surging again
- Conroy looking for partners for Irish gold mine
- Russian precious metals repository buys gold, palladium
- Metals market update for September 29
- Financial Journalist William Cohan Responds to Calls Urging Publication of PM Manipulation Exposé
- Gold likely to slide down further in India
- Major Stock Selloff Looms
- Silver a more favorable investment than gold
- Russia’s Gokhran Buying Gold Bullion In 2014 and Will Buy Palladium In 2015
- Violent protests in Hong Kong rock markets with largest pro-democracy demonstrations in China since Tiananman Square
- Another wild ride ahead this week for US equities?
- Russia’s Gokhran Buying Gold Bullion In 2014 and Will Buy Palladium In 2015
- Hong Kong protests offer gold some support
- What's going on with ETF gold sales - Phillips
- US Dollar Aims to Extend Advance, Gold and Crude Oil Range-Bound
- US Dollar Aims to Extend Advance, Gold and Crude Oil Range-Bound
- Gold is stable – Analysis - 29/09/2014
- CHARTS : Gold Market Update
- Jay Taylor Urges Investors to Stay Liquid for the Coming Gold Boom
- Gold Steady Above $1215
- Gold: $1215 Level Continues To Assist
- Silver consolidates before breakout
- Conspiracy fact: The European Central Bank Gold Agreement is renewed
- Bond markets clearly at risk from the end of the bond king’s reign
- Harvey Organ: Shanghai Drained of Silver, Bullion Banks Are About to Attack the COMEX!
- Events Impacting The Gold And Silver Price In The Week Of September 29th
- Jim Willie: The Crash Heard Round the World- Saudis to Reject USD for Oil Payments
- COT Report Shows JP Morgan Holds Lowest Silver Short Position Since 2008
- Alasdair Macleod’s Market Report: $1200 for Gold Underpinned by Physical Demand
- CHARTS : Dollar Gold And How It Affected Gold Since The Financial Crisis
| Currency Wars Deepen – Russia, Kazakhstan Buy Massive 30 Tons Of Gold In August Posted: 29 Sep 2014 12:30 PM PDT It appears that Putin is going for the West’s jugular… Submitted by Mark O’Byrne, GoldCore: Russia and ex Soviet States Kazakhstan, Kyrgyz Republic and Azerbaijan continued to accumulate significant gold reserves in August in a trend that we highlighted last month. Latest official gold reserve data from the International Monetary Fund (IMF) shows […] The post Currency Wars Deepen – Russia, Kazakhstan Buy Massive 30 Tons Of Gold In August appeared first on Silver Doctors. |
| Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs Posted: 29 Sep 2014 12:00 PM PDT For years, many people have suspected that the New York Fed is more or less controlled by the “too big to fail” banks. Well, we now have smoking gun evidence that this is indeed the case… Den of Thieves 1 oz Silver Bar Secure Yours Now at SDBullion! From The Economic Collapse Blog: A very […] The post Smoking Gun Evidence That The New York Fed Serves The Interests Of Goldman Sachs appeared first on Silver Doctors. |
| CHARTS : Gold Price Very Close to an Important Low Posted: 29 Sep 2014 11:40 AM PDT marketoracle |
| Ready Or Not…The Unsustainable Status Quo is Ending Posted: 29 Sep 2014 11:00 AM PDT Look, it’s really this simple: Anything that can’t go on forever, won’t. The Last Coin in the Silver Shield Banksters Collection: End of the Line- On a Long Enough Timeline, the Survival Rate Drops to Zero! Submitted by Chris Martenson, Peak Prosperity: ~ Walking straight in a hall of mirrors I have to confess, it’s […] The post Ready Or Not…The Unsustainable Status Quo is Ending appeared first on Silver Doctors. |
| Technical Analysis: All Metals Weak, Gold Bull Market Over For Now Posted: 29 Sep 2014 10:55 AM PDT goldsilverworlds |
| Cattle Bulls Should be Careful Posted: 29 Sep 2014 10:46 AM PDT Bulls in the cattle market, (both fats and feeders) have had an excellent run higher for some time. Scarce supplies coming off of back to back drought years ( 2011 and 2102) have reduced the herd significantly. Now that cattlemen are looking to rebuild their herds, on account of the incredibly cheap grain prices and sky high cattle prices, supplies are becoming even tighter as heifers are being held back for breeding purposes. Also, feeders are in hot demand and have drawn record prices at auction barns. However, it is my view that cattle longs should be careful at this point. The market looks as if it is beginning to accelerate with shorts being "butchered" ( a little word play here for fun ) and now abandoning the ship as the hedge fund longs squeeze them mercilessly. Markets undergoing this sort of internal dynamic are very dangerous if one is long. Once the last of the weak shorts are run out, they can abruptly change direction. If you are long, I would suggest you think about locking in some profits through the use of some options. With both hog and chicken numbers ramping up and with US beef so pricey and with a strong US Dollar, the demand side of this market is going to have to deal with some hefty headwinds soon enough. For now, the funds are in the driver's seat but all good things come to an end. Feeders in particular are in nosebleed territory. They closed limit up on Friday of last week and are currently locked at limit up today. This market in particular is displaying all the classic signs of a blow off run.  I still do not see any technical evidence yet of a top but I am watching very, very closely at this point. Here is the October live cattle chart. Bulls are banking on the fact that the scarcity of cattle will allow for even higher prices. Bears are of the view that increasing cattle weights and high priced beef will overwhelm demand at these levels. I am in the latter camp but am not ready to pull the trigger just yet.  Some of what we are seeing today in the livestock market is month-end and quarter-end window dressing by funds who are heavily long both markets, as well as the hogs. That negative Hogs and Pigs Report forced a limit down opening in some of the summer month contracts but funds came in and once again vigorously defended that big long position they have amassed. The hog market has been able to shrug off the report, especially in the nearby October which is being supported by surging pork prices ( end users are switching from high priced beef to pork) but one wonders how long even this month contract will be able to shrug off the broader based commodity selling trend. I am not going to put too much stock in price action in any commodity market both today and tomorrow due to Quarter end activity; nonetheless, we do want to pay close attention to the price action throughout the rest of the week in these particular markets. If cattle feeders can force packers to put higher money on the table, hedge fund longs will be able to continue squeezing the shorts. If feedlots blink first, hedge funds are in trouble. We'll see how the battle plays itself out soon enough. Also, this afternoon we will get another look at harvest progress from the USDA. There is some rain in the forecast for later this week which has spooked some bears ( also a report is due out ) and that is leading to a pop higher in the grain markets this morning. The Mato Grosso area of Brazil is forecasted to receive some good rains. That will help with overall soil moisture. Planting season is underway down in S. America with traders expecting some big acreage going to beans. That 6 year low in the Brazilian Real has really gotten my attention. |
| Alasdair Macleod on Hyperinflation: Valuing Gold & Turkey-Farming Posted: 29 Sep 2014 10:00 AM PDT We already have monetary hyperinflation, defined as an accelerating debasement of the dollar. And so for that matter all other currencies that are referenced to it are on a similar course, a condition which is unlikely to be halted except by a final systemic and currency crisis.Attempts to stabilize the purchasing power of currencies by raising […] The post Alasdair Macleod on Hyperinflation: Valuing Gold & Turkey-Farming appeared first on Silver Doctors. |
| Singapore lures investors with kilobar gold contract Posted: 29 Sep 2014 09:55 AM PDT Singapore Exchange will start trading the contract next month as it joins other Asian nations in a push for new price benchmarks. |
| Bearish sentiments continue to cloud Gold, support $1203 Posted: 29 Sep 2014 09:53 AM PDT Over the longer term, expectations for rising rates and a stronger dollar will continue to pressure gold, keeping the price-negative macro backdrop too large a burden for any seasonal uptick in physical consumption to overturn, according to Barclays. |
| Gold's good month - forget it this year Posted: 29 Sep 2014 09:53 AM PDT It is often pointed out that September is a great month for gold. It's not shaping up so this year. |
| Technical Analysis: All Metals Weak, Gold Bull Market Over For Now Posted: 29 Sep 2014 09:45 AM PDT The following is an excerpt from Yamada’s latest monthly update for premium subscribers, released today. We highly recommend subscribing to the monthly in-depth analysis of Louise Yamada on www.lyadvisors.com. We have wondered whether the slow and tentative movement particularly in the more industrial metals may relate to the closing of so many of the major banks' commodity trading desks, essentially removing a good deal of the speculative aspect of price movement for those metals as well as other commodities including Oil. Nevertheless, the longer-term technical patterns are suggesting major bull market trends of the past decade plus are coming to an end. Gold – The Gold Bull Market is over for the Foreseeable FutureGold Spot price (GOLDS-1,218.38, see Figure 26) has weakened further, as anticipated, and is now testing the 2002 structural uptrend and support at 1,200. The weekly and monthly momentum (neither shown), are both negative, suggesting the support is more likely to be broken. (A Fibonacci 50% retracement, not shown, of the 647% advance comes in near 1,090 and represents a target between our targets of 1,100 and 1,000.) The three-year progression to date has been one of lower highs all the way to current levels. This behavior is very different from the 2008-2009 (see circle) progression in which the 2008 decline was followed by a pattern of higher lows prior to the late 2009 breakout through 1,000 resistance.
Additionally, we know the dollar and Gold move generally in opposite directions (see Figure 27, left). When the ratio is rising, the dollar is outperforming Gold; when the ratio is falling, Gold is outperforming the dollar. One can see in the Dollar / Gold ratio that the 2005 outperformance of Gold (see broken downtrend) has come to an end and now, following a five-year base, the Dollar has initiated a structural outperformance versus Gold.
Additionally, we know historically that structural bull markets in Equities and Gold move in an inverse relationship (see Figure 27, right): That structural bull markets in equities correspond to structural bear markets in Gold and vice versa. This profile of the Dow to Gold is a longer-term profile of that relationship which we have shown also with the S&P 500 over past months. The rising ratio now suggests the bull market for Gold is now over. Additionally, we present again our major observation from last year (see Figure 28) that Gold structural bull markets appear (in the small sample available) to end with or near structural interest rate cycle reversals, whether with inflationary (rising rates) or deflationary (falling rates) environments. Given that we believe the falling interest rate cycle from 1980-1981 is in the process of reversing (transitions to rising interest rate cycles take from 2 to 14 years historically), it follows that the structural bull market for Gold is over.
We reiterate that it is our belief that Gold need not fall back to 2000 levels near 250, but may find a higher level from which to stabilize, perhaps in the 700- 800 range near the 2002 uptrend (see Figure 26, above). We have equally been concerned about the GDX (not shown) which many felt was in a basing mode. Our concern has more been one that the base may prove false, given the profile of Gold itself. The GDX has pulled back toward support at 22 and may well slip to test the last bit of support at 20. A break below 20 would suggest a target toward 15. Silver – Bear MarketSilver Spot price (SILV-17.664) has preceded Gold in breaking the 2013 support, extending the 2011 downtrend and suggesting targets at 15, even 12, may lie ahead. Aluminum – Price Reversal!Aluminum (LA 1- 1,920.75) no sooner tested resistance from what appeared a saucer base depicted herein last month, than price cracked back down to 1,952, below the 50-day MA. The overall commodity declines may infect even some of the better-looking charts. A pullback below 1,920 would suggest the breakout might have been another false breakout. Copper – No Follow ThroughThe Copper Continuous Futures Contract (HG1-303.55), depicted herein last month, still could not follow through on a higher high or a challenge of the 2012 downtrend below 340. Instead, price has fallen to support near 300 and may be poised to break what could be considered the lower level support of a descending triangle over four years. Any breach would suggest risk toward 290 or even 270 from the 2010 low. Resistance is now 330. Platinum: More Flop than FlipPlatinum spot price (PLAT-1,300.25?), continued to weaken all the way toward / through the 2013 low at 1,300 depicted herein last month. Notwithstanding interim bounces, a sustained break below 1,300 could carry weakness toward 1,200 or lower over the months ahead. Resistance is now 1,400. Palladium: PullbackPalladium spot price (PALL-781.10) was unable to hold onto its breakout strength (see Figure 29) and has pulled dramatically back toward the 2008 uptrend at 770. The inability to hold this level would suggest a false breakout for the metal with potential to return toward the price congestion between 800 and 700 from 2013. Weekly momentum has turned down suggesting weakness / consolidation. Resistance now is at 860.
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| Markets At a Glance: Has Ebola Reached a Tipping Point? Posted: 29 Sep 2014 09:00 AM PDT We are currently in the midst of the largest ever Ebola outbreak in Western Africa, and this could just be the beginning. The number of cases and deaths has risen steadily, from a handful of people in Guinea at the end of March 2014 to several thousand now, not only in Guinea, but in Liberia, […] The post Markets At a Glance: Has Ebola Reached a Tipping Point? appeared first on Silver Doctors. |
| Emerging Market Currencies Under Pressure Posted: 29 Sep 2014 08:32 AM PDT If one just looks at the Major Currency pairs and sees the Dollar a bit weaker this morning, it is very easy to overlook at what has been happening in some of the Emerging Market currencies. It goes back to that same interest rate differential and the fact that there is concern about slowing global growth, especially in some of these emerging markets. I should also note that there has been a large carry trade involved here as well. I want to post a chart of the Brazilian Real for the benefit of grain traders and hog traders. Please note that the currency just made a 6 year low against the US Dollar. Brazilian grain and Brazilian pork are dirt cheap on the global markets compared to US grains and US pork. Most US based grain traders have been in the past, and remain oblivious to such things.  Also, while not an emerging market, the Australian Dollar just matched its yearly low against the greenback. If it moves lower from here, we are talking about 4 year lows. Aussie beef is getting cheaper! It is only a matter of time before high-priced US Beef is going to price itself out of export demand.  |
| How long Indonesia probe into deadly Freeport mining accident may take Posted: 29 Sep 2014 08:18 AM PDT Some preliminary numbers on how much production and how long Freeport-McMoRan's world class Grasberg copper-gold mine will be shut down are trickling out. |
| China gold demand surging again Posted: 29 Sep 2014 08:12 AM PDT Latest weekly withdrawal figures from the Shanghai Gold Exchange suggest Chinese demand is near 2013 levels. |
| Conroy looking for partners for Irish gold mine Posted: 29 Sep 2014 08:11 AM PDT Conroy Gold and Natural Resources has developed a mining plan for its Clontibret gold project in Ireland and its chairman/founder is talking of taking on partners to develop it. |
| Russian precious metals repository buys gold, palladium Posted: 29 Sep 2014 08:02 AM PDT Gokhran, the Russian precious metals and gems repository, said it has been buying gold bullion in 2014 and will likely to start buying palladium bullion in 2015. |
| Metals market update for September 29 Posted: 29 Sep 2014 07:57 AM PDT Gold fell $3.50 or 0.29% to $1,217.50 per ounce and silver climbed $0.11 or 0.63% to $17.63 per ounce Friday. Gold and silver were both down on the week at 0.01% and 1.51% respectively. |
| Financial Journalist William Cohan Responds to Calls Urging Publication of PM Manipulation Exposé Posted: 29 Sep 2014 07:30 AM PDT Last week we published a note from our good friend Ned Naylor-Leyland regarding a “bombshell development” in the PM manipulation story, calling for renowned financial journalist William Cohan to publish his in-depth expose of gold and silver manipulation by the Western banking cabal. Bombarded by emails from precious metals investors, Mr. Cohan has responded. […] The post Financial Journalist William Cohan Responds to Calls Urging Publication of PM Manipulation Exposé appeared first on Silver Doctors. |
| Gold likely to slide down further in India Posted: 29 Sep 2014 07:08 AM PDT According to experts, it is advised to defer gold buying during this festive season, as prices are likely to slide down further. |
| Posted: 29 Sep 2014 07:00 AM PDT Since early 2013 the US stock markets have done nothing but rally, levitating thanks to the Fed's oft-implied backstop. This incredibly unnatural behavior has left sentiment dangerously unbalanced, with hyper-complacency and euphoria running rampant. Only a major selloff can restore normal psychology. And with the Fed's third quantitative-easing campaign ending, odds are high such a […] The post Major Stock Selloff Looms appeared first on Silver Doctors. |
| Silver a more favorable investment than gold Posted: 29 Sep 2014 06:56 AM PDT A high gold:silver ratio and an anticipated surge in industrial demand are making silver a better investment bet than gold. |
| Russia’s Gokhran Buying Gold Bullion In 2014 and Will Buy Palladium In 2015 Posted: 29 Sep 2014 06:02 AM PDT gold.ie |
| Posted: 29 Sep 2014 05:00 AM PDT Police in Hong Kong fired tear gas and pepper spray at pro-democracy protesters who have jammed streets to protest new election rules allowing the Chinese government to choose Hong Kong’s new leader. Asian stocks took a tumble and gold gained in price amid the largest pro-democracy protests in the special administrative region of China since Tiananmen Square. The news comes amid a worsening outlook for the Chinese economy as the government clamps down on corruption hitting contract awards and its demand for industrial commodities has nose-dived sending prices into freefall… Video courtesy of Bloomberg TV… |
| Another wild ride ahead this week for US equities? Posted: 29 Sep 2014 04:46 AM PDT With the third quarter ending Tuesday and the monthly jobs report Friday, there seems to be no shortage of reasons for more volatility ahead for stocks following on from last week’s wild ride. Futures pointed to a lower open while gold and silver prices ticked higher. Bond prices still seemed under pressure after the shock departure of ‘bond king’ Bill Gross from the world’s largest bond fund Pimco last week. Could this be the opening to a typically volatile October? |
| Russia’s Gokhran Buying Gold Bullion In 2014 and Will Buy Palladium In 2015 Posted: 29 Sep 2014 04:32 AM PDT Gokhran, the Russian precious metals and gems repository, said it has been buying gold bullion in 2014 and will likely to start buying palladium bullion in 2015, Interfax news agency reported this morning, citing the head of Gokhran, Andrey Yurin. Receive Award Winning Updates Here
Gokhran, the Russian precious metals and gems repository, said it has been buying gold bullion in 2014 and will likely to start buying palladium bullion in 2015, Interfax news agency reported this morning, citing the head of Gokhran, Andrey Yurin.
Gokhran has been buying gold bullion on the Russian market this year and has no plans to sell palladium from stock in 2014 , Yurin said. Gokhran's palladium reserves are a state secret and analysts try to guess the level each year but they are widely believed to have been depleted according to Reuters. Gokhran was influential on global platinum group metals (PGMs) markets in the 1990s and 2000s, when its palladium stocks, accumulated during the 1970s and 1980s, came to the market, depressing prices. Gokhran is the State Precious Metals and Gems Repository which is a state institution under the Russian Ministry of Finance. It is responsible for the State Fund of Precious Metals and Precious Stones of the Russian Federation. It is responsible for the purchase, storage, sale and use of precious metals, precious stones, jewellery, rocks, and minerals by the State Fund.
Russia again added to its growing and increasingly substantial gold reserves in August, with the Russian central bank purchasing 232,510 ozs (7.23 tonnes) and bringing its total gold reserves to 35.769 million ozs or 1,112.5 tonnes.
Palladium is already in a structural deficit and this new source of demand should result in palladium continuing to see gains in the coming months. MARKET UPDATE Gold fell $3.50 or 0.29% to $1,217.50 per ounce and silver climbed $0.11 or 0.63% to $17.63 per ounce Friday. Gold and silver were both down on the week at 0.01% and 1.51% respectively. Gold in Singapore was essentially flat, trading around the $1,219/oz level and remained tethered to this level in London trading. Palladium gained about 1% while silver and platinum were largely unchanged. The dollar hit a four year peak against a basket of currencies this morning and this is pressuring the precious metals. Gold Down 5.2% In September and Headed For Quarterly Loss Of over 8% Silver has fallen by a larger amount and is down 9.6%. While platinum is 8.3% lower. Palladium's 12.7% drop this month means that it is on track for its worst monthly performance since September 2011. It remains higher for the year and is 12.5% higher than the low in January 2014 at $693/oz. Demand for physical gold could be affected by the Chinese holiday period that begins this week, MKS note this morning. “Beginning on Wednesday this week we have Chinese Golden Week commencing, which will keep Chinese markets shut between 1-8 October,” it said. “Given the natural support derived from Chinese physical demand, their absence over this period, combined with another strong payrolls figure expected this Friday, could heap added pressure on the gold. This is a very similar scenario to last year where gold was aggressively sold by speculators during the absence of the Chinese.”
Canny buyers in Asia and globally will use further price weakness to dollar cost average into gold. Receive Award Winning Updates Here
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| Hong Kong protests offer gold some support Posted: 29 Sep 2014 04:31 AM PDT Reported protests and police push back in Hong Kong appear to buoy gold ever so slightly with safe haven buying. |
| What's going on with ETF gold sales - Phillips Posted: 29 Sep 2014 04:29 AM PDT Julian Phillips of the Gold Forecaster gives his view on the latest ETF gold sales and suggests it's not a dire situation. |
| US Dollar Aims to Extend Advance, Gold and Crude Oil Range-Bound Posted: 29 Sep 2014 01:15 AM PDT yahoo |
| US Dollar Aims to Extend Advance, Gold and Crude Oil Range-Bound Posted: 29 Sep 2014 01:10 AM PDT dailyfx |
| Gold is stable – Analysis - 29/09/2014 Posted: 29 Sep 2014 01:10 AM PDT economies |
| Posted: 29 Sep 2014 01:00 AM PDT goldseek |
| Jay Taylor Urges Investors to Stay Liquid for the Coming Gold Boom Posted: 29 Sep 2014 01:00 AM PDT Jay Taylor doesn't beat around the bush—he believes the price of gold is being suppressed to support the U.S. dollar and underwrite American foreign policy. But the publisher and editor of J.... Visit the aureport.com for more information and for a free newsletter |
| Posted: 28 Sep 2014 11:50 PM PDT marketpulse |
| Gold: $1215 Level Continues To Assist Posted: 28 Sep 2014 11:50 PM PDT investing |
| Silver consolidates before breakout Posted: 28 Sep 2014 11:15 PM PDT fxstreet |
| Conspiracy fact: The European Central Bank Gold Agreement is renewed Posted: 28 Sep 2014 11:00 PM PDT GATA |
| Bond markets clearly at risk from the end of the bond king’s reign Posted: 28 Sep 2014 08:00 PM PDT Pimco is the world’s largest bond fund. The abrupt departure of its head ‘bond king’ Bill Gross is leading to redemptions. Will those redemptions be large enough to jeopardize the bond market itself and cause the very collapse that Mr. Gross was about to be fired for failing to predict? Where will this money move to next? Equities, cash or precious metals? This may be jumping too far ahead for most analysts. So let’s start with bonds. Rene Nourse, Principal & Managing Director of Urban Wealth Management, discusses Bill Gross’ abrupt departure from Pimco and how that could impact bond markets… |
| Harvey Organ: Shanghai Drained of Silver, Bullion Banks Are About to Attack the COMEX! Posted: 28 Sep 2014 03:25 PM PDT Gold & silver expert Harvey Organ joins us this week for an explosive and power packed show discussing: Criminal collusion by the CFTC officials- how CFTC knew what was going on with gold & silver manipulation, and wanted to keep the price suppression game alive while China corners the market More pain ahead for gold […] The post Harvey Organ: Shanghai Drained of Silver, Bullion Banks Are About to Attack the COMEX! appeared first on Silver Doctors. This posting includes an audio/video/photo media file: Download Now |
| Events Impacting The Gold And Silver Price In The Week Of September 29th Posted: 28 Sep 2014 03:09 PM PDT In this article, we summarize the key events of the running week that could have an impact on the price of gold and silver price because of trading in COMEX futures. During the previous week, between September 21st and 27th, both gold and silver remained somehow stable. There was no specific event driven price change. Gold and silver are at a key juncture. Were these price levels to be violated to the downside, then the metals are breaking through a mega support level. gold stocks have been holding up relatively well up until a week ago but, unfortunately, have been weakening lately. Gold bulls would like to see two things going forward; first, current support levels need not to be violated and, second, gold stocks need to hold up well. For the week commencing September 29th, there are some key economic data and the European Central Bank announcement that could impact markets and precious metals.
A key event this week is undoubtedly the ECB rate decision. Below is a more detailed calendar of key economic data in key markets. They are not necessarily driving gold and silver prices, but could cause price volatility:
Note: The primary focus of our website is to report on the different aspects of the gold market: fundamentals, economic and monetary analysis, basic technical analysis. Our view on the real price setting in the gold and silver market differs from the mainstream view. Price changes happen to coincide with events or announcements; mainstream media are used to report a relationship between both. However, we believe that the real price setting for the time being is taking place in the COMEX futures market. Market expert Ted Butler does an outstanding job analyzing the weekly evolution in the COMEX market and how it affects price setting. |
| Jim Willie: The Crash Heard Round the World- Saudis to Reject USD for Oil Payments Posted: 28 Sep 2014 02:25 PM PDT Putin kicked out the Rothschild bankers from his country. Putin interrupted the USGovt heroin trade supply routes out of Afghanistan. Like Abraham Lincoln 150 years ago, the elite banker chambers wish to remove Putin and to suppress Russia, but the sprawling nation has joined at the hip with China. Thus Russia cannot be isolated any more […] The post Jim Willie: The Crash Heard Round the World- Saudis to Reject USD for Oil Payments appeared first on Silver Doctors. |
| COT Report Shows JP Morgan Holds Lowest Silver Short Position Since 2008 Posted: 28 Sep 2014 02:12 PM PDT This is an excerpt from Ed Steer’s latest commentary in his daily gold and silver newsletter (subscribe here). In it, he refers to Ted Butler’s weekly COT analysis which is accessible in Butler’s premium service on www.butlerresearch.com. The Commitment of Traders Report for positions held at the close of Comex trading on Tuesday were about what I was expecting in silver, but rather disappointing in gold. Commitment Of Traders SilverIn silver, the Commercial net short position declined by a hefty 6,792 contracts, or 34.0 million troy ounces. The Commercial net short position is now down to 16,767 contracts, or 83.8 million troy ounces—and within spitting distance of its late May/early June record low.
For a change, it wasn’t the Managed Money traders in the technical fund category going short that caused the decline, as they actually covered 1,638 of their short contracts during the reporting week. It was the small traders [the Nonreportable category] that were involved, as their net long position declined by 4,702 contracts. Ted Butler says that it appears that the Managed Money is all full up on the short side — and all of this week’s improvements came from these Nonreportable futures contract holders, plus Non-Commercial traders other than the technical funds. Ted Butler also mentioned that JPMorgan’s short position in silver is now down to about 11,500 contracts, their lowest short-side corner in the Comex futures market since taking over the silver short position of Bear Stearns in 2008. And not to be forgotten in all of this, is the equally extreme short-side corner in the Comex silver market held by Canada’s Scotiabank. Commitment Of Traders GoldIn gold, the Commercial net short position only declined by 11,924 contracts, or 1.19 million troy ounces. I was expecting around double that amount. The Commercial net short position in that precious metal now stands at 6.43 million troy ounces.
The big changes were in the Manged Money category, as they sold an additional 3,232 long contracts—and bought 6,933 short contracts. The small traders in the Nonreportable category also pitched 4,278 longs in addition to that. Of course, standing there buying all the long positions offered in both metals, was JPMorgan et al. Ted Butler was rather surprised to see that there was no change in JPMorgan’s long-side corner in the Comex gold market, as it remained around the 25,000 contract/2.5 million troy ounce mark. Ted also remarked that the Comex futures market showed major improvements in platinum, palladium, copper and crude oil, as ‘da boyz’ continue to game the technical funds into extreme positions on the short side. The only big exception is the dollar index, where the technical funds are holding monster long positions—and JPMorgan et al are mega short. And, without doubt, we’ve seen more improvements in the internal structure of the precious metals since the Tuesday cut-off—and also without doubt, we’re back at, or below, the record lows set back in late May/early June. And we’ve exceeded those lows in both platinum and palladium, as those two metals have been savaged during the latest engineered price decline. Once again we have to contemplate the subsequent actions of JPMorgan et al, as all these shorts look to cover during the next rally—and in the dollar index, it’s the opposite. Will they let the technical funds off easy once again, or will ‘da boyz’ just put their hands in their pockets? And as Ted Butler and I have said countless times that, and only that, will determine not only how high price rise from here, but how fast they get they get there as well. Nothing else matters. |
| Alasdair Macleod’s Market Report: $1200 for Gold Underpinned by Physical Demand Posted: 28 Sep 2014 02:11 PM PDT Last week saw gold rally $15 to $1233 on Tuesday before sliding to $1207 yesterday morning, then rallying in the afternoon. Silver’s moves tracked gold’s, bottoming out at $17.30 Thursday at the London opening. Friday morning precious metals were firmer in pre-LBMA trade, reflecting some short-covering ahead of the weekend. The action, as has often been the […] The post Alasdair Macleod’s Market Report: $1200 for Gold Underpinned by Physical Demand appeared first on Silver Doctors. |
| CHARTS : Dollar Gold And How It Affected Gold Since The Financial Crisis Posted: 28 Sep 2014 01:50 PM PDT goldsilverworlds |
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