Thursday, December 29, 2016

Gold World News Flash

Gold World News Flash

Breaking: Obama Preparing To Announce Russia Attack Plan

Posted: 28 Dec 2016 07:00 PM PST

 Alex Jones reveals the globalists plan to escalate tensions with Russia to start a global conflict. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many...

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Paul Brodsky: Fed gooses dollar to gain control over worldwide monetary reset

Posted: 28 Dec 2016 06:31 PM PST

9:30p ET Wednesday, December 28, 2016

Dear Friend of GATA and Gold:

The economist Paul Brodsky of market analysis firm Macro-Allocation Inc. in Tampa, Florida, writes this week that the Federal Reserve is strengthening the dollar, despite its deflationary influence, so that the central bank can draw more capital to U.S. banks and asset markets in preparation for hyperinflation and a worldwide monetary reset, which the Fed will be more able to control if more wealth is held in dollars and assets denominated in dollars.

In a paper headlined "It's the Dollar, Stupid!," posted tonight at Zero Hedge, Brodsky writes:

"This is not the first time the Fed has had to actively increase the exchange value of the dollar. Paul Volcker's Fed had to hike overnight rates to 20 percent in 1980-81 so the dollar would be reaffirmed as a store of global value for U.S. trading partners, including OPEC.

"We believe the Fed is doing the same today, in spite of its de-stimulative impact, because it wants to attract global capital to U.S. banks and asset markets. Doing so would ensure U.S. dollar hegemony, which would be necessary if and when global leverage leads to hyperinflation and multilateral trade and currency wars.

"Once substantial wealth is held in dollars and dollar-denominated assets, the U.S. political dimension and the Fed, through the Bank for International Settlements and International Monetary Fund, would be able to control the terms of a global monetary reset, which in turn would de-leverage balance sheets across currencies and economies in a controlled manner -- in effect, a pre-packaged bankruptcy in real terms."

Brodsky's paper is posted at Zero Hedge here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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Anonymous: The Reptilian Agenda 2017 Exposed

Posted: 28 Dec 2016 06:30 PM PST

Anonymous Message 2017 - You have to watch this! Something big is going to happen!This is the latest Anonymous message to the global public.  The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

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With China Facing Currency, Liquidity Crises, Ex-PBOC Official Urges Use Of "Nuclear Option"

Posted: 28 Dec 2016 05:49 PM PST

With the PBOC fighting tooth and nail to slow outbound capital flight, which according to Goldman has reached $1.1 trillion since August 2015, and which these days mostly means keeping the Yuan from depreciating to new all time lows below 7 Yuan to the Dollar, the Chinese central bank may have its work cut out for it in the immediate future. The reason is that, as Bloomberg reminds us, the first day of 2017 is when an annual $50,000 quota to convert the yuan into foreign exchange resets, stoking concern there will be a rush to sell the local currency.

With tax payments and a regulatory assessment also tightening liquidity in the money market toward year-end, manifesting itself in soaring unsecured funding rates such as the overnight repo hitting 33% as noted yesterday, paralyzing both the overnight...


and longer-dated interbank lending markets...

...  January may bring scant relief as lenders prepare for stronger cash demand before Lunar New Year holidays, which are only a month away.

The narrative is familiar: China's markets are seeing renewed pressure this month as the Federal Reserve projects a faster pace of rate increases for 2017 and its Chinese counterpart tightens monetary conditions to spur deleveraging and defend the exchange rate. The declines are capping off a tough year for investors during which bonds, shares and currency all slumped, with the last hitting all time lows, just as Kyle Bass had predicted roughly one year ago.

Much of the blame is on the unique calendar this year: "You have Chinese New Year quite early, and because of that one-month window, most of the banks will try to lock the money in a three-month cycle," said Arthur Lau, Hong Kong-based head of Asia ex-Japan fixed income at PineBridge Investments. "The current situation in the bond market is partly because of year-end and because of Chinese New Year."

But two far bigger culprits are the tightening Fed, and the rapidly deteriorating standoff between China's housing bubble, which Beijing desperately wants to deflate into a soft landing by withdrawing liquidity, and China's banking system which in turn is desperate for more liquidity, more easing, or at least a reduction in required reserves.

Meanwhile, the local debt market is flashing red warning lights, yet most market participants seem to be blissfully ignoring them: China's 10-year government bond yield has surged 21 basis points in December, poised for its biggest monthly increase since August 2013, when the local banks nearly collapsed as a result of a failed deleveraging effort. The yuan's 6.6 percent decline in 2016 puts it on course for its worst year since 1994, while the Shanghai Composite Index is headed for its largest drop in five years. The three-month interbank rate known as Shibor rose for a 50th day, its longest streak since 2010, to an 18-month high on Wednesday. The overnight repurchase rate on the Shanghai Stock Exchange jumped to as high as 33 percent the day before, the highest since Sept. 29. As banks become more reluctant to offer cash to other types of institutions, the latter have to turn to the exchange for money, said Xu Hanfei, an analyst at Guotai Junan Securities Co. in Shanghai.

But the worst news for China is that the local population is well-aware of the financial problems facing Beijing, and has been scrambling to transfer its cash offshore. As Bloomberg notes, the recent surge in onshore yuan trading volume suggests outflows are quickening, according to Harrison Hu, chief greater China economist at Royal Bank of Scotland. The daily average value of transactions in Shanghai climbed to $34 billion in December as of Wednesday, the highest since at least April 2014, according to data from China Foreign Exchange Trade System.

Which brings us to the January 1 clock reset, and the imminent surge in perfectly legal capital outflows.

"In the new year, the new foreign-exchange purchase quota starts, so we expect yuan positions in January to drop significantly," Liu Dongliang, an analyst at China Merchants Bank Co., wrote in a note this month. "Within the foreseeable future, the market will be pessimistic about funding conditions. It happens to be near year-end now, where money markets are tight, and after New Year's Day it's almost Chinese New Year."

Ultimately, trying to keep a lid on the Yuan is a game China will lose, and some are already preemptively admitting defeat. Among them is Yu Yongding, a former academic member of the PBOC's monetary policy committee, who overnight urged his former PBOC colleagues to engage the "nuclear option" - a sharp, one off devaluation similar to what China did in August of 2015. 

In emailed comments to Bloomberg, Yongding said that China has a window from now to President-elect Donald Trump's inauguration to halt FX intervention and let yuan depreciate to its equilibrium level.

Yongding believes that once FX reserves fall below a certain psychological threshold, capital outflows will only accelerate, and while depreciation expectations may weaken occasionally, they will never disappear until the yuan free floats and finds its equilibrium.

He also warned that concerns over depreciation have severely affected the PBOC's monetary-policy independence and said that while tightening capital controls is right move, this has massive side effects and can be evaded.

His conclusion: letting yuan fall won't be as scary as some imagine because Chinese companies have been paying down their FX debt and a large drop isn't supported by nation's economic fundamentals.

Will the PBOC stun everyone and unveil a surprise devaluation in the next three weeks? We don't know, but according to bitcoin, which has soared by 20% in just the past week, someone does appear to "know" something, and if they are right, a devaluation is precisely what the Chinese central bank has in store.

Bankruptcy Asset Hunters Confirm What Most Of Us Already Knew: Everyone Lies On Social Media

Posted: 28 Dec 2016 05:30 PM PST

Earlier this year Curtis Jackson III (aka "50 Cent") raised some concerns with his bankruptcy judge, Ann Nevins, after he posted a couple of ill-advised pictures on Instragram of himself posing with $100,000s of dollars worth of cash.  Apparently Chapter 7 trustees frown upon omitting "buckets of cash" from your official bankruptcy disclosures and then subsequently posing with that cash on social media.  But, after being ordered to appear in court to explain the pictures, an embarrassed 50 Cent was forced to admit that the cash was fake.

50 Cent


As the Wall Street Journal points out, chapter 7 trustees all around the country are finding out that "fiddy" isn't the bankrupt person "frontin" on social media. 

This October, when Ido Alexander saw photos a young man had posted on social media, he thought he had hit the bankruptcy jackpot.


Mr. Alexander, a Florida lawyer working for a court-appointed trustee, dispatched an appraiser to the man's home to inspect the expensive-looking gold chains and other jewelry he had been posing in, which he hadn't declared as assets in court filings.


The appraiser made another discovery that is becoming all too common in the age of social-media braggadocio. "At the end of the day, it was really costume jewelry," Mr. Alexander says. "It was really disappointing."


The industry's detectives—lawyers and accountants who serve as chapter 7 bankruptcy trustees—are learning what most teenagers have already figured out, which is that you can't always believe what you see on Facebook and Twitter. "Gotcha" moments in which they discover people in bankruptcy posing in glamorous-looking jewelry, piloting boats and ATVs and even displaying buckets full of cash have fallen flat as the items turn out to be fake, or not theirs at all.

Of course, some people are dumb enough to actually hide real assets from the bankruptcy court which rarely works out all that well.  Just ask Gregory Sipe of Virginia who decided to omit nearly $1 million worth of vintage guitars from his asset disclosures and earned himself five months of house arrest and nice little fine to boot.

Trustees say efforts to hide assets don't happen often, but nevertheless have been going on for years. An Oklahoma man who filed for bankruptcy in 2005 failed to turn over profits from his ownership stake in a television show, the court ruled. The name of the show: "Cheaters."


Tipped off by a creditor, North Carolina bankruptcy trustee John Bircher III, ran an online search on a Chesapeake, Va., businessman and found a newspaper article about his collection of 250 guitars. The man, Gregory Sipe, had only listed "several collectible guitars" worth $10,000 in his August 2010 bankruptcy filing.


When Mr. Bircher paid Mr. Sipe a visit, he recalls, he discovered a garage full of vintage guitars that later sold for almost $900,000. Lawyer Raymond Tarlton, who represented Mr. Sipe, said his client didn't disclose the guitars because he thought he could fully pay his debts without selling them.


Mr. Sipe pleaded guilty, was sentenced to five months of house arrest and had to pay $5,900 for falsifying court records.

Who knew that people sensationalize their lives on social media?  We thought we were the last remaining miserable people on the planet...this is a good news day.

Bullion Star: Gold flow reverses, moving again from London to Asia via Switzerland

Posted: 28 Dec 2016 05:19 PM PST

8:20p ET Wednesday, December 29, 2016

Dear Friend of GATA and Gold:

Bullion Star reports today that gold demand in China remains strong, that it is recovering in India, and that the flow of gold from Asia to London via Switzerland has reversed and gold now is flowing from London back to Asia. Bullion Star's report is headlined "Gold Market Charts -- December 2016" and it's posted at Bullion Star here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

Taylor cited the company's announcement here:

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:


Posted: 28 Dec 2016 05:00 PM PST

 Anonymous Updates presents to you 'ANONYMOUS - The GREAT AMERICAN AWAKENING (Are you awake yet?)' The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Accused of Fake News? You Might Get Fined Half A Million Dollars In Germany!

Posted: 28 Dec 2016 04:00 PM PST

 The government of Germany is considering imposing a legal regime that would allow fining social networks such as Facebook up to 500,000 euros ($522,000) for each day the platform leaves a "fake news" story up without deleting it. The Financial Armageddon Economic Collapse Blog tracks...

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Posted: 28 Dec 2016 03:08 PM PST

TRUMP TO COLLAPSE DOLLAR | Jeff Berwick Jeff Berwick from Dollar Vigilante joins Silver Doctors with a word of warning. A Trump presidency will bring with it an economic crisis and collapse of the U.S. dollar, Berwick says. Is there a way to prevent collapse? Berwick is concerned we are...

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Shanghai Gold Exchange limits transaction size to curb manipulation

Posted: 28 Dec 2016 11:20 AM PST

Shanghai Gold Exchange Cuts Transaction Size to Limit Price Moves

By Josephine Mason and Muyu Xu
Wednesday, December 28, 2016

Shanghai Gold Exchange, the world's biggest physical bullion exchange, said Wednesday it will curb the amount of gold investors can trade at one time, a move analysts said would limit institutional investors' influence on prices.

The exchange said in a statement it will halve its limit on transactions to 500 kilograms on some spot gold contracts starting Jan. 1. It did not give a reason for the move and the exchange did not answer calls seeking comment.

The new limit, which would be worth more than $20 million based on current prices, suggests the move is targeted at institutional investors, such as banks and hedge funds.

The move does not affect the amount traders can sell or buy in any one day, but it would likely force traders to carry out big transactions in multiple moves, reducing the potential for "fat finger" erroneous trades or preventing big investors from carrying out rapid-fire buying or selling to influence prices.

It may also drive up the transactions costs. ...

... For the remainder of the report:


Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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Obama Signs Law in Attempt to BAN Free Speech! Russia and China Named

Posted: 28 Dec 2016 11:00 AM PST

They're about to shut down the internet. It will be like the good old days, get out there and talk The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Fukushima Leaking - Bird Flu Death and Spread - Relocation - prepper, survival, and homestead news

Posted: 28 Dec 2016 10:44 AM PST

In ancient Israel, the Sabbath year arrangement every 7 years effected the land similarly to rotation. The seventh year the land was left without tilling, reaping. This allowed it to rest. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,...

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Holiday Edition: Here Are the Top 6 Frank Talk Posts of 2016

Posted: 28 Dec 2016 10:23 AM PST

This year has been one for the history books. Donald Trump was elected as the 45th president of the United States, gold had its best quarter in a generation, Warren Buffett decided he likes airlines again and voters in the United Kingdom elected to leave the European Union. Loyal readers of the Investor Alert newsletter and my CEO blog Frank Talk know that we covered it all, too. As we head into the New Year, I want to share with you the six most popular Frank Talk posts of 2016. Before I do that, however, I think it's important to note one recurring theme I write about that continues to help our investment team and shareholders better understand the movement in commodities and energy: the purchasing managers' index (PMI).

Investing for maxium profits during a new US presidency

Posted: 28 Dec 2016 09:30 AM PST

There are at least four reasons why gold will rise again: 1. Protection against inflation. 2. Reaction against Federal Deficits 3. A beneficiary of negative 'real interest rates', currently at – 1.22% 4. Several billion new investors since 1980. Most of these reside in Asia, where gold is appreciated as a 'store of value'.

Goldman to Trump: Situation Assessment, Government Bail-ins and the Precious Metals Threat

Posted: 28 Dec 2016 09:17 AM PST

"In addition to false reporting, there is War. War is just like the Fed; it is never audited. This deliberate lack of oversight is how $6 trillion can go missing at the Army, alone. The Army's missing funds are a small portion of the total amount that has disappeared into the military spending vortex. War spending is critical to topline GDP, and we can play a lot of non-detectible games with it. The saying, "War is the health of the state," was coined for us. If we stopped fighting wars, GDP would crater. Wars are a necessary constant going forward, even if we have to invent them. "This brings us to Perception, one of the most important factors of all. In reality, the economy and dollar have become a confidence game...

Gold Bottoming In Late December, For The Second Straight Year?

Posted: 28 Dec 2016 08:55 AM PST

In other words, a "perfect Precious Metals storm" may be developing right in front of our eyes. Only you can decide if this is indeed the case - but as for me, I assure you I'll be putting my money where my mouth is!

ALERT -- Trump to repeal and replace Dodd-Frank

Posted: 28 Dec 2016 08:47 AM PST

 FBN's Peter Barnes on President-elect Donald Trump's plans to repeal regulations such as Dodd-Frank. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many...

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Jim Rickards: The Empire Strikes Back

Posted: 28 Dec 2016 08:34 AM PST

This post Jim Rickards: The Empire Strikes Back appeared first on Daily Reckoning.

Jim Rickards joined Max Keiser and Stacy Herbert for a exclusive interview on the global economy and the incoming Trump administration.  Max kicked off the show referencing the American humorist Ogeden Nash's famous quote, “Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”

During the episode of Double Down Stacy Herbert pressed questions regarding Cuba's proposal to pay down its debts with… rum.  The island nation has extended an offer to the Czech Republic to pay up its estimated $270 million in what it views as a valuable commodity.

To further examine this alternative to paper currency payments the invited guest was none other than Daily Reckoning contributor and bestselling author, Jim Rickards.  Rickards literally wrote the book on Currency Wars and has just released his latest New York Times bestseller, The Road to Ruin.  Both titles examine the global economy, what happens when nations seek a hard currency, like gold – and more.

When asked by Stacy Herbert "What do you say to the rum to settle debt?" Rickards did not hold back saying, "There is a humourous side to this and a sad side.  They don't have hard currency and the Czech Republic has no interest in whatever currency Cuba is offering to put out."

"This is part of a larger picture having to do with all major economies outside of the U.S trying to get away from the dollar based system.  One of the reasons countries are doing these kinds of swaps is what I call the Axis of Gold – Russia, China, Iran – diversifying away from the dollar and getting out from under sanctions."

"This is going on in small ways all over the place.  It has one thing in common. Get out from under the dollar payment system.  The U.S has acted as a bully, and in some ways it has been an extension of foreign policy – but in others it is trying to throw its weight around at a time when people are losing confidence in U.S dollars and U.S debt anyway.  Little by little, countries are doing these kind of deals to get away from our payment system."

Jim Rickards appearance with Max Keiser of the Kesier Report in Oct. 2016

Jim Rickards appearance with Max Keiser on the Kesier Report in October 2016

When asked about Trump's new economic team and what he is focused on from the incoming administration Rickards responded, "What I am watching is what I have called 'The Empire Strikes Back.'  Which is, what do Janet Yellen and her colleagues at the Fed think of Trump?  Trump during the campaign said he was going to "fire Janet Yellen" – well of course he can't fire her. But he can make her life pretty miserable because there are two vacancies on The Federal Open Market Committee (FOMC)."

"Yellen is bent on raising rates.  Probably at the worst possible time and may sink the U.S economy which could cause a recession.  Of course they would blame that on Trump.  There is a very high level power struggle going on between Democrats on the Federal Reserve Board of Governors and Republicans everywhere else in Washington."

Rickards went on to remark that, "A lot of people know that Janet Yellen's term as Chair is over in 2018.  But, she has a separate term that goes until 2028.  She could remain on the board, though she won't be chairman. She could stay on the Board for another ten years and be a dissenter and a "pain in the neck" for Trump.  This is going to play out in interesting ways."

When prompted on his thoughts regarding China and its dollar policy he noted, "They are buying gold.  They are creating a hedge to U.S treasury.  So that way, if the U.S resorts to inflation (which we always do sooner or later) the treasuries will be worth less but the gold will be worth more.  Conversely, if we have price stability gold might not do much but the treasuries will pay off in real value.  So the Chinese win either way.  But they are still completely vulnerable. The U.S is on the path to being like Greece or Italy at this stage… But China is worse.  So, in this poker game I would rather be the U.S."

In a brilliant shift, Max Keiser took it all back to Wall Street and the big banks asking what to expect from the Trump administration and banking?  Rickards quickly responded, "The banking system is inherently a ponzi.  They are not creating value.  They extract value from the system and give nothing back.  They can't have it both ways.  You cannot have a government guaranteed liability side of the balance sheet and a free market asset side.  If you are going to have government guaranteed asset sides (FDIC) and subsidies for your liabilities you are going to have to regulate the assets."

To catch the full interview with Jim Rickards click here.


Craig Wilson, @craig_wilson7
for the Daily Reckoning

The post Jim Rickards: The Empire Strikes Back appeared first on Daily Reckoning.

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2016: A Year for Contrarians; 2017 Shaping Up That Way as Well

Posted: 28 Dec 2016 07:28 AM PST

If contrary sentiment analysis paves a way for a future risk 'off' view, the likes of Treasury Bonds and Gold, key components of the lowly risk 'off' trade, will have their day. I recommend you sit back, relax and let the contrarian signals come in without taking on the pressure and unrealistic expectations of pretending to know. It worked in 2016, after all.

Gold Resource Corporation Declares December Monthly Dividend

Posted: 28 Dec 2016 06:37 AM PST

Gold Resource Corporation (NYSE MKT: GORO) (the "Company") declares its monthly instituted dividend of 1/6 of a cent per common share for December 2016 payable on January 23, 2017 to shareholders of record as of January 11, 2017. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA.

GATA secretary interviewed at length on Russia 24's 'Geo-Economics' program

Posted: 28 Dec 2016 06:28 AM PST

Last week's "Geo-Economics" program on the Russia 24 television network, the round-the-clock news channel based in Moscow, gave your secretary/treasurer a lot of time to discuss gold's role as an international currency and the policy of Western governments to subvert it in favor of the U.S. dollar. The program cited the Russian government's steady acquisition of gold as well as the Indian government's interference with gold purchases by its citizens.

Gold Market Morning: Dec-28-2016 -- Gold and Silver stronger during the holidays

Posted: 28 Dec 2016 06:19 AM PST

The markets are still in holiday mode ahead of the New Year, so we should not read too much into the markets this week. We see that in the small tonnage sold in the last day from the SPDR gold ETF. The amount is a strange figure but one we have seen many times before. It looks like a short term trader is trying to read the market on a daily or weekly basis and positioning himself, accordingly. If the price rises, we expect this amount to be purchased back in the days to come.

Breaking News And Best Of The Web

Posted: 28 Dec 2016 01:37 AM PST

US stocks, interest rates, dollar at recent and/or record highs. Worries about valuation are spreading. US housing starts jump in November, auto sales turn down, numerous factories scaling back. Italian banks restructuring and raising capital as government begins bail-out. Deutsche Bank agrees to big fine for mortgage fraud. Terrorist attacks in Turkey and Germany.   […]

The post Breaking News And Best Of The Web appeared first on

Gold Price Due for a Bounce, But Remains in Long-term Bearish Trend

Posted: 27 Dec 2016 03:52 AM PST

Bruce Powers writes: Spot gold (XAU/USD) remains in a long-term downtrend following a test of resistance at the long-term downtrend line over multiple weeks from July to September, and then again in November. A swing high of $1,375.15 was reached during that time, which was also a 2016 high and the highest price since March 2014.

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