Monday, January 16, 2017

Gold World News Flash

Gold World News Flash


“Gold Is Money – And Nothing Else”

Posted: 16 Jan 2017 08:16 AM PST

Crush The Street's Kenneth Ameduri invited to discuss why I believe the current stock market is the most overvalued in history. We also chatted about the movement by western Governments to a digital currency system and, of course, the precious metals market. It's my view that the pullback in the precious metals sector that began in late July was over by the end of December. I also believe that there's good probability that the next move in the sector will be more powerful than the 2016 move.

Gold and the Bull Trap

Posted: 16 Jan 2017 08:12 AM PST

I believe what we are seeing in price movement is simply a bull trap. A repetitive trap to ensure as many investors as possible are gathered on one side before the slaughter. I suspect over the next few trading sessions gold will struggle at the 50 DMA before finally giving up and plunging. The gold bulls might be successful at overtaking the 50 DMA but even that will be short lived. To change my outlook I would have to see gold take out $1215 area, retest the 50 DMA, and move higher but I don't believe that is likely not withstanding a major world event. In that case all bets are off. Good luck trading and don't be fodder for the market!

PRECIOUS METALS INVESTORS: Are You Prepared For The Great Financial Enema?

Posted: 16 Jan 2017 08:07 AM PST

While many Americans have been hornswoggled to believe President-elect Trump is going to make the United States great again, are you prepared for the greatest FINANCIAL ENEMA in history? Of course not. That is why we continue to see precious metals sentiment fall further into the cesspool. I have to laugh at how much the gold inventories at the GLD ETF have declined in less than three months. Since October 20th, 2016, the GLD has shed 17% of its supposed gold holdings. No, I don't care if the gold is really there. It's probably not, but that isn't the important thing to focus on now. It's the sentiment.

A Hint of Gold Backwardation - Rising Gold Scarcity

Posted: 15 Jan 2017 11:33 PM PST

Last month, we noted that there could be a trend change in progress. Not only are the prices of the metals rising (which is just a mirror-image of the dollar falling, from 27.6 milligrams of gold just before Christmas to currently under 26mg). But the scarcity of gold as we measure it, using the spread between the price of gold in the spot and futures markets, has been rising.

What could cause this? One thing is for sure. It is not about the quantity of dollars. This theory is as popular as ever, despite the absolute lack of a rising gold price from September 2011-2016. The quantity of dollars has risen steadily since then.

We write much about the frequent cases when traders place big bets on something which is wrong. But the fact of their big bets drives up the price. Suppose speculators were betting on a big increase in the quantity of dollars under Trump. Then we would see a rising price alright, but we would see a rising basis—our measure of abundance of gold to the market. This cannot explain the current market either.

So what can? Recall Keith Weiner's gold backwardation thesis. In times of stress or crisis, it is always the bid, and never the offer, which is withdrawn. Suppose the US Geological Survey were to make a dire announcement—THEY ARE NOT SAYING THIS, SO DO NOT MISCONSTRUE!! Suppose they said that there will be an earthquake in LA, an 11 on the Richter Scale. Nothing taller than a dollhouse will be left standing.

There would be no lack of offers to sell real estate. Some would hold out hope of getting "their price". Others would generously offer to discount it 10% or 25% from the previous level.

However, what would be conspicuously absent would be a bid. Most likely from Santiago Chile to Vancouver, British Columbia and as far east as the Mississippi River. At least until the quake hit and the danger was passed.

It is gold that will withdraw its bid on the dollar. The bid sputtered 8 years ago, and intermittently since then. Then it has mostly been steady in the past few years. And now there is a hint of it, in the February gold contract. It's just what we call temporary backwardation—a short term blip confined to the near contract that is heading into expiry.

However, we think it is notable. It means someone or many someones are switching their preference to gold, in spite of the higher yields available in the market now. Or maybe because of it. This preference, unlike speculators buying futures with leverage, is not about betting on price. It is about safety. Gold, unlike a bond, does not default.

Is this the explanation, and the whole explanation? We don't know. We can only report that there is a change in behavior in the market. Whereas previously—this was the pattern for years—a rising price was accompanied by rising basis. And now we have rising price and the cobasis is rising instead. Rising scarcity rather than rising abundance.

To be sure, it is still a nascent trend. There is no guarantee that this won't go poof like it has in the past. We will keep showing the data, and calling it like we see it.

Indeed, look for a new website soon. We plan to have more charts, many more, and updated daily. Including one data series that all the experts said could not be calculated.

Below, we will look at the supply and demand fundamentals for gold and silver. But first, the price action.

The Prices of Gold and Silver

The Prices of Gold and Silver

Next, this is a graph of the gold price measured in silver, otherwise known as the gold to silver ratio. It fell a bit this week.

The Ratio of the Gold Price to the Silver Price

The Ratio of the Gold Price to the Silver Price

For each metal, we will look at a graph of the basis and cobasis overlaid with the price of the dollar in terms of the respective metal. It will make it easier to provide brief commentary. The dollar will be represented in green, the basis in blue and cobasis in red.

Here is the gold graph.

The Gold Basis and Cobasis and the Dollar Price

The Gold Basis and Cobasis and the Dollar Price

Look at that rising red line, the cobasis (our measure of scarcity). Since mid-December, it has moved opposite to the green line, which is the price of the dollar. Previously, they had moved together. That is, a rising dollar (i.e. falling price of gold, as measured in dollars) went with rising scarcity of gold, and a falling dollar had falling scarcity.

And now they are opposite. The more the price of gold is bid up (i.e. the more the dollar is sold), the scarcer gold becomes.

On Friday, our calculated fundamental price was just about $100 over the market price.

The February cobasis is +0.12%. That is, the Feb contract is backwardated.

Now let's look at silver.

The Silver Basis and Cobasis and the Dollar Price

The Silver Basis and Cobasis and the Dollar Price

In silver the cobasis is rising a bit, though it is at a much lower level. Far from backwardation, it is -.90%.

Our calculated fundamental price moved up 3 cents from last week. It is no longer above the market price, as that moved up a lot more.

© 2016 Monetary Metals

Gold Price 2017 Trending Towards $1375 as Forecast

Posted: 15 Jan 2017 11:07 PM PST

The gold price hit bottom at $1124.30 on the 15th of December 2016 following which it entered an uptrend that has taken the precious metal to a recent high of $1207, all this whilst apparently many gold bugs were asleep at the wheel having publically thrown in the towel due to the failure of Gold to perform, and most recently have been busy scrambling to play catch up.

The End Is Near

Posted: 15 Jan 2017 11:02 PM PST

Gold gained 1.94% this past week and has been acting fine. That said, I don't see it really moving anywhere fast with only a couple weeks left of this current influx of Chinese buying. We may see this move extend to the $1,240 resistance level but likely not above. Silver rose 1.49% and is finding resistance at $17 now. We may see silver breach $17 and move to $17.50 over the next couple of weeks but I'm not looking for real strength to take hold until the early spring.

2017 – Spectacular For Gold And Silver But Disaster For Bonds And Stocks

Posted: 15 Jan 2017 04:57 PM PST

2017 has just started but some longer-term trend changes already seem to develop. It is interesting how a new year combined with a new US president act as a catalyst for what will be the start of monumental events in the world economy.

End Times Headline News - January 15th, 2017

Posted: 15 Jan 2017 02:30 PM PST

The news we have today is about 15 minutes. What we dont have any news on is the world assembly backing Israel into a corner. Their fate will come before Donald Trump can take office. Can Trump survive to presidency? Time will tell. The Financial Armageddon Economic Collapse Blog...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

Von Greyerz and Maguire interviewed at King World News

Posted: 15 Jan 2017 01:27 PM PST

4:27p ET Sunday, January 15, 2017

Dear Friend of GATA and Gold:

Interviewed by King World News, Swiss gold fund manager Egon von Greyerz says gold long has been outperforming stock markets around the world even as those markets are in bubble territory:

http://kingworldnews.com/the-greatest-secret-of-this-century-and-why-gol...

And London metals trader Andrew Maguire says the U.S. government has been using psychological war operations to control markets but that gold is beginning to overcome them:

http://kingworldnews.com/whistleblower-andrew-maguire-us-government-usin...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.com/

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

GATA secretary to speak at Singapore and Hong Kong conferences in March and April

Posted: 15 Jan 2017 07:39 AM PST

10:39a Sunday, January 15, 2017

Dear Friend of GATA and Gold:

Your secretary/treasurer will speak at the end of March at the Mining Investment Asia conference in Singapore and at the beginning of April at the Mines and Money Asia conference in Hong Kong, Asia being more sympathetic to gold's monetary functions than North America is.

The Mining Investment Asia conference will be held from Tuesday-Friday, March 28-31, at the Marina Bay Sands conference center in downtown Singapore. Information about the conference and registration is posted here:

http://www.mininginvestmentasia.com/

The Mines and Money Asia conference will be held Wednesday-Friday, April 5-7, 2017, at the Hong Kong Convention and Exhibition Centre in the Wan Chai section of the city. Participants in the conference can obtain discount lodging rates at the two adjacent hotels, the Grand Hyatt and Renaissance Harbour View. Information about the conference and registration is posted here:

http://asia.minesandmoney.com/

Of course both cities are spectacular and, being former British colonies, are easily navigable for those who speak only English. So your secretary/treasurer would be delighted to see some of GATA's friends there.

CHRIS POWELLL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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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:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22 and 23, 2017
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/event/54/vancouver-resource-investment-confer...

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
http://tdvinvestmentsummit.com

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore
http://www.mininginvestmentasia.com/

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre
http://asia.minesandmoney.com/

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jack Chan: This Past Week in Gold and Silver

Posted: 15 Jan 2017 01:40 AM PST

The Gold Report

Breaking News And Best Of The Web

Posted: 15 Jan 2017 01:37 AM PST

US stocks up a bit, gold down. Retail sales up, led by autos. Earnings season starting well for banks and miners. Global debt continues to soar, especially in China. US retaliates against alleged Russian hacking. Fake news debate rages. Trump holds first press conference since election.   Best Of The Web Off to an interesting […]

The post Breaking News And Best Of The Web appeared first on DollarCollapse.com.

Gold Price Closed at $1195.60 Up $11.40 or 0.96%

Posted: 11 Jan 2017 06:04 PM PST

11-Jan-17PriceChange% Change
Gold Price, $/oz1,195.6011.400.96%
Silver Price, $/oz16.78-0.02-0.12%
Gold/Silver Ratio71.2390.7631.08%
Silver/Gold Ratio0.0140-0.0002-1.07%
Platinum Price972.20-0.20-0.02%
Palladium Price753.20-11.35-1.48%
S&P 5002,275.326.420.28%
Dow19,954.2898.750.50%
Dow in GOLD $s345.01-1.60-0.46%
Dow in GOLD oz16.69-0.08-0.46%
Dow in SILVER oz1,188.967.290.62%
US Dollar Index101.79-0.21-0.21%
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD:1,190.50


GOLDFine Tr.Oz.BIDASK$/oz
American Eagle1.001,225.021,230.381,230.38
1/2 AE0.50617.05627.991,255.98
1/4 AE0.25314.47319.951,279.79
1/10 AE0.10129.36130.361,303.60
Aust. 100 corona0.981,161.091,170.091,193.73
British sovereign0.24282.35295.351,254.65
French 20 franc0.19222.27228.271,222.64
Krugerrand1.001,204.791,214.791,214.79
Maple Leaf1.001,200.501,214.501,214.50
1/2 Maple Leaf0.50684.54625.011,250.03
1/4 Maple Leaf0.25303.58318.461,273.84
1/10 Maple Leaf0.10126.19129.761,297.65
Mexican 50 peso1.211,426.661,437.661,192.38
.9999 bar1.001,195.261,200.501,200.50
SPOT SILVER:16.72


SILVERFine Tr.Oz.BIDASK$/oz
VG+ Morgan $B4 19050.7723.0027.0035.29
VG+ Peace dollar0.7717.0020.0026.14
90% silver coin bags0.7212,094.2312,380.2317.32
US 40% silver 1/2s0.304,739.184,889.1816.57
100 oz .999 bar100.001,661.501,686.5016.87
10 oz .999 bar10.00168.65173.6517.37
1 oz .999 round1.0016.9717.2717.27
Am Eagle, 200 oz Min1.0018.2219.7219.72
SPOT PLATINUM:972.20


PLATINUMFine Tr.Oz.BIDASK$/oz
Plat. Platypus1.00987.201,017.201,017.20

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Top Ten Videos — January 12

Posted: 11 Jan 2017 04:01 PM PST

Rick Rule on why gold might tread water for a while before it soars. Donald Trump’s first post-election press conference — see what all the fuss is about. David Morgan, Mike Maloney and more than the usual amount of Max Keiser.                    

The post Top Ten Videos — January 12 appeared first on DollarCollapse.com.

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