Friday, January 27, 2017

Gold World News Flash

Gold World News Flash


What Lies Ahead for Gold and Silver Prices?

Posted: 27 Jan 2017 07:05 AM PST

Every time gold and silver prices have a good run, there tends to be a proliferation of sensationalistic articles that state something to the effect of "gold ready to break out to new highs now" or "silver about to surge tremendously". To such sensationalistic articles, I always say, pay no attention to them, because no one really can ever predict the exact date when gold will surge by $100 and silver by $3 or $4 in a single trading session, as these events are likely to happen at some point in the future when most people are not expecting it to happen, and not during a time when everyone is expecting it to happen.

Timely Thoughts on Silver

Posted: 27 Jan 2017 07:01 AM PST

The futures appear headed to the 16.580 target shown. I posted this Hidden Pivot support in the chat room Thursday morning, but it was probably of little help to traders because of the downtrend's rabid demeanor. I am not suggesting bottom-fishing with the usual penny-ante stop-loss, since the target closely coincides with some important lows from mid-January.

Wave Of State Department Personnel Resign, Are Fired As Tillerson Takes Control

Posted: 27 Jan 2017 12:09 AM PST

Update: according to a CNN report - so as always take with lots of salt - the story has shifted materially, because according to two senior administration officials, it wasn't a resignation by the State Department officials, but more of a termination: "the Trump administration told four top State Department management officials that their services were no longer needed as part of an effort to "clean house" at Foggy Bottom."

Patrick Kennedy, who served for nine years as the undersecretary for management, Assistant Secretaries for Administration and Consular Affairs Michele Bond and Joyce Anne Barr, and Ambassador Gentry Smith, director of the Office for Foreign Missions, were sent letters by the White House that their service was no longer required, the sources told CNN.

 

All four, career officers serving in positions appointed by the President, submitted letters of resignation per tradition at the beginning of a new administration. The letters from the White House said that their resignations were accepted and they were thanked for their service.

 

The White House usually asks career officials in such positions to stay on for a few months until their successors are confirmed.

 

"Any implication that that these four people quit is wrong," one senior State Department official said. "These people are loyal to the secretary, the President and to the State Department. There is just not any attempt here to dis the President. People are not quitting and running away in disgust. This is the White House cleaning house."

 

Mark Toner, the State Department's acting spokesman, said in a statement that "These positions are political appointments, and require the President to nominate and the Senate to confirm them in these roles. They are not career appointments but of limited term."

A second official echoed that the move appeared to be an effort by the new administration to "clean house" among the State Department's top leadership. "The department will not collapse," the second official said. "Everyone has good deputies. It's a huge institutional loss, but the department has excellent subordinates and the career people will step up. They will take up the responsibility."

Victoria Nuland, the State Department's assistant secretary for Europe, was also not asked to stay on.

The following org charts breaks out the unfilled appointee positions, in blue, while the red crosses show the resignations

 

* * *

Earlier:

Demonstrating just how ideologically alligned with the Obama administration was the entire US State Department, moments ago the WaPo reported that "the entire senior level of management officials resigned Wednesday, part of an ongoing mass exodus of senior foreign service officers who don't want to stick around for the Trump era."

The mass resignation took place as Rex Tillerson was inside the State Department's headquarters in Foggy Bottom on Wednesday, taking meetings and getting the lay of the land.

According to WaPo's Josh Rogin who suddenly has no more senior level sources left at State:

"I reported Wednesday morning that the Trump team was narrowing its search for his No. 2, and that it was looking to replace the State Department's long-serving undersecretary for management, Patrick Kennedy. Kennedy, who has been in that job for nine years, was actively involved in the transition and was angling to keep that job under Tillerson, three State Department officials told me."

 

Then suddenly on Wednesday afternoon, Kennedy and three of his top officials resigned unexpectedly, four State Department officials confirmed. Assistant Secretary of State for Administration Joyce Anne Barr, Assistant Secretary of State for Consular Affairs Michele Bond and Ambassador Gentry O. Smith, director of the Office of Foreign Missions, followed him out the door. All are career foreign service officers who have served under both Republican and Democratic administrations.

Additionally, "Assistant Secretary of State for Diplomatic Security Gregory Starr retired Jan. 20, and the director of the Bureau of Overseas Building Operations, Lydia Muniz, departed the same day. That amounts to a near-complete housecleaning of all the senior officials that deal with managing the State Department, its overseas posts and its people."

"It's the single biggest simultaneous departure of institutional memory that anyone can remember, and that's incredibly difficult to replicate," said David Wade, who served as State Department chief of staff under Secretary of State John Kerry. "Department expertise in security, management, administrative and consular positions in particular are very difficult to replicate and particularly difficult to find in the private sector."

There were more: several senior foreign service officers in the State Department's regional bureaus have also left their posts or resigned since the election. But the emptying of leadership in the management bureaus is more disruptive because those offices need to be led by people who know the department and have experience running its complicated bureaucracies. There's no easy way to replace that via the private sector, said Wade.

"Diplomatic security, consular affairs, there's just not a corollary that exists outside the department, and you at least can afford a learning curve in these areas where issues can quickly become matters of life and death," he said. "The muscle memory is critical. These retirements are a big loss. They leave a void. These are very difficult people to replace."

 

Whether Kennedy left on his own volition or was pushed out by the incoming Trump team is a matter of dispute inside the department. Just days before he resigned, Kennedy was taking on more responsibility inside the department and working closely with the transition. His departure was a surprise to other State Department officials who were working with him.

Rogin's conclusion: "By itself, the sudden departure of the State Department's entire senior management team is disruptive enough. But in the context of a president who railed against the U.S. foreign policy establishment during his campaign and secretary of state with no government experience, the vacancies are much more concerning."

On the other hand, if Tillerson wanted a real clean slate, he just got it.

Gold Slips on Dollar Strength, Profit Taking, Trump Comments and Futures Expiration

Posted: 27 Jan 2017 12:00 AM PST

Gold Stock Bull

Metals and Mining Stocks

Posted: 26 Jan 2017 11:01 PM PST

Guest Post from David Smith By David Smith, Originally Published on Money Metals Exchange Most readers of this column own (or plan to own) physical precious metals – gold and silver, perhaps even...

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Asian Metals Market Update: Jan-27-2017

Posted: 26 Jan 2017 11:01 PM PST

The next three days are very crucial for gold and silver despite the current bearish technicals. Crude oil is bullish. Copper is in a neutral zone. Physical demand for gold and silver has been below expectations (despite the Chinese New Year). In the short term the direction of the US stock markets and the trend of the US dollar will dictate gold and silver prices. Copper and crude oil prices will get swayed by demand and supply news.

Abandoned Wal-Mart To Reopen As Shelter For Illegal Immigrants With Tax-Dollar Funding

Posted: 26 Jan 2017 08:51 PM PST

An abandoned Walmart in Brownsville, Texas will soon be home to 100's of illegal immigrant "minors", many of them late in their teen years, thanks to your federal tax dollars.  According to a report from a local ABC affiliate in Brownsville, the facility is currently being converted into a shelter by a nonprofit organization called Southwest Key, which receives the majority of its funding from federal tax dollars via the Office of Refugees Resettlement.

A Southwest Key spokeswoman confirmed the facility is set to open on March. They said it'll be to welcome unaccompanied minors who crossed into the U.S. illegally.

 

It will be the 4th facility in Brownsville to shelter children, under the age of 17, who have crossed into the U.S. without an adult.

 

Southwest Key is federally funded by the Office of Refugees Resettlement. The group's mission is to provide a safe environment for unaccompanied children while they wait to be reunited with a sponsor or relative in the U.S.

 

Southwest Key officials said children are supervised during their stay. The program ensures youngsters have a safe place to sleep, are fed, educated and also have access to healthcare and counseling services.

Of course, the report drew a lot of criticism from local Brownsville residents, many of whom questioned whether the money shouldn't be redirected to fund a shelter for veterans and/or the homeless.

FB

 

As background, according to WND, Southwest Key has an annual budget of $150 million and operates 27 shelters for illegal immigrants in Texas, Arizona and California.  Per the Southwest Key website:

Southwest Key Programs is a private, nonprofit organization founded in 1987 to keep young people out of institutions and empower them with the skills, knowledge and tools they need to succeed. Through an exceptionally competent and diverse staff, Southwest Key empowers youth and their families to make positive changes in their lives including at our 27 immigrant children's shelters in Texas, Arizona and California.

 

Southwest Key Unaccompanied Minor shelters operate as a self-contained unit, delivering shelter, food, healthcare, education, recreation, case management and legal services to the children in our care. We are required by the federal government to provide everything that a child needs in order to thrive in a humane and homelike environment. As a result, there is little interaction between the children in our services and the surrounding community, save for those businesses and employees engaged in their care on-site.

 

Healthcare: The overwhelming majority of medical services are done on site by Southwest Key's fully-staffed, licensed medical professionals who ensure the health of the children in our shelters. Every child receives a full, medical exam by a doctor within 24 to 48 hours of entering our facilities, including receiving all the CDC recommended immunizations and being screened for any infectious diseases.

 

Education: While in our care, all unaccompanied minors receive educational services. Our presence in a community does not impact children in the local school system as our kids receive all educational services separate and distinct from local children and they never have an opportunity to interact with one another.

Southwest Key

 

If Southwest Key sounds familiar, it's probably because it's the same Southwest Key that drew criticism from Senator Chuck Grassley back in 2014 for using taxpayer money to provide a petting zoo and guitar lessons to their illegal immigrant residents at a cost of over $300 per child per day.  Per the Washington Times:

One of the contractors housing some of the surge of illegal immigrant children from this summer offers them a petting zoo with miniature ponies, a tilapia fish farm operation and guitar lessons, according to documents released Thursday by a senator who questioned whether the plush accommodations were a good use of taxpayers' money.

 

Sen. Charles E. Grassley, Iowa Republican, said it seemed excessive to pay the $329 that Southwest Key Programs, the contractor, charged per child per day at one of its California facilities in Lemon Grove, California. Another facility in El Cajon cost taxpayers $316 per child per day.

Here is the original report from KRGV-TV in Brownsville, TX:

Farmers Are The Key To Humanity's Future

Posted: 26 Jan 2017 07:00 PM PST

 Farmers have been looked down for years, but without farmers humanity cannot survive and we need them if we want to take civilization to the next level. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Is Trump Backing Down On Promise To Prosecute Hillary?

Posted: 26 Jan 2017 05:30 PM PST

 Donald Trump has been delivering on his campaign promises in record time, but what about his promise to prosecute Hillary Clinton? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

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Trump, Yellen and Systemic Risk

Posted: 26 Jan 2017 02:49 PM PST

This post Trump, Yellen and Systemic Risk appeared first on Daily Reckoning.

Investors are giddy now that the Dow's broken through the mythical 20,000 mark. Many anticipate Trump's economic agenda will spur the economy.

But the most decisive factor in the implementation of the Trump economic plan is the reaction of the Federal Reserve. While a Fed rate hike in December was basically a certainty, the path of rates in 2017 following the December hike will be critical to the success or failure of Trump's plans.

The Fed can choose to be highly accommodative in the face of Trump's larger deficits. In effect, the Fed will not anticipate inflation, but will wait until it actually emerges. Actual inflation is still below the Fed's target inflation rate of 2%.

Since the Fed is targeting average inflation of 2%, it could allow inflation to run above 2% for a while, which would be consistent with 2% average inflation, given today's lower level.

The Fed also seeks negative real rates as a kind of stimulus measure. Negative real rates exist when the rate of inflation is higher than the nominal interest rate. This condition can exist at any level of nominal rates. For example, inflation of 3% with nominal rates of 2.5% produces a negative real rate of 0.5%.

Likewise, inflation of 4% with nominal rates of 3.5% produces the same negative real rate of 0.5%. No doubt the Fed does not want inflation of 3.5%. However, they can achieve negative real rates at any level by using financial repression to put a lid on nominal interest rates.

This is done by forcing banks to buy Treasury notes even if the Fed's balance sheet is stretched. It amounts to a kind of "shadow QE" using the bank balance sheets to park bonds instead of the Fed's balance sheet.

This kind of accommodation to higher deficits is also called "fiscal dominance," an idea sketched by former Fed governor Rick Mishkin and his colleagues in academic literature. The idea is that Fed independence is mostly a mirage and the Fed will do what is needed to facilitate the fiscal wishes of Congress despite protests to the contrary.

Under fiscal dominance, low inflation is allowed to persist for an extended period of time. It will gradually erode the real value of the dollar and dollar-denominated Treasury debt. This is how the U.S. reduced its debt-to-GDP ratio from 1946 to 1970.

The problem with this "high pressure" approach is that inflation is not purely a monetary phenomenon, but it is also a behavioral phenomenon. Money printing alone does not produce inflation. The money printing must be combined with the willingness of individuals to borrow, spend and invest.

Such willingness is largely psychological — dependent on Keynes' animal spirits. However, once expectations shift from deflationary to inflationary scenarios, they are hard to shift back again. This could lead to a situation in which inflation expectations shift from 1% to 3%, but then shift quickly to 5% or higher.

The Fed assumes they can dial-down inflationary expectations from, say, 3% to 2%. But that may be wishful thinking. Any effort to raise rates to deal with higher inflation expectations may have the opposite of the intended effect as consumers view higher rates as a validation that inflation is getting out of control.

This is exactly what happened in 1974–81. The Fed started out behind the curve and stayed there until sitting Fed Chairman Paul Volcker's extreme measures in 1980–81.

Alternatively, the Fed could choose to lean into prospective inflation from Trump's policies by aggressively raising rates in 2017. This policy would be based on Janet Yellen's reading of the Phillips Curve and the well-accepted notion that monetary policy acts with a lag.

With unemployment at post-recession lows and initial claims for unemployment benefits at all-time lows, Yellen's analysis is that inflationary pressures from increasing wage demands are just a matter of time. Since monetary tightening works with a six-to-twelve month lag, it's important to raise rates now to keep ahead of that inflation.

Independent of the state of the labor markets today, the Fed is desperate to raise rates as much as possible. This should allow it to have some dry powder available for rate cuts in the next recession.

By Fed reckoning, the euphoria in the stock market after the election of Trump counts as an easing of financial conditions. Such easing is the perfect cover for an offsetting tightening by the Fed. The Fed will pursue a delicate balance between easing (from stocks) and tightening (from rates) that will allow it to achieve its rate normalization goal without putting the economy into a recession.

The last wild card in this mix is the dollar. A tightening cycle by the Fed will make the dollar stronger. This is deflationary because the U.S. is a net importer and a stronger dollar makes imported goods cheaper for U.S. consumers and other participants in the global supply chain.

The combination of a stronger dollar, imported deflation, and higher rates in an already weak economy could tip the U.S. into a recession.

And some consideration must be given to the worst possible economic outcome: stagflation. That is the unhappy combination of higher inflation and low real growth or recession.

Trump's big spending plans and animal spirits could produce the inflation while Yellen's rate hike and tight money produce the recession. A version of this played out in the United States from 1976–81.

On top of the macroeconomic risks, systemic risk is as dangerous as ever. It could come to play a large and unexpected role in Trump's economic plans. Too-big-to-fail banks are bigger than ever, have a larger percentage of the total assets of the banking system, and have much larger derivatives books.

In complex dynamic systems such as capital markets, risk is an exponential function of system scale. This means that the larger size of the system implies a future global liquidity crisis and market panic far larger than the Panic of 2008.

The ability of central banks to deal with a new liquidity crisis is highly constrained by low interest rates and bloated balance sheets, which have not been normalized since the last crisis. In the next panic, which could come at any time, central banks will turn to the IMF to provide needed liquidity.

That liquidity will take the form of the issuance of trillions of special drawing rights, SDRs (world money). This emergency SDR issuance will be highly inflationary, and effectively end the role of the U.S. dollar as the benchmark global reserve currency.

There are many potential catalysts that could trigger such a crisis, including a Chinese devaluation of the yuan, a banking crisis, failed gold deliveries, an emerging markets dollar-denominated debt crisis, a natural disaster, etc.

The catalyst for such a panic is irrelevant — what matters is the instability of the system as a whole.

When the catalyst is triggered and panic commences, impersonal dynamics take on a life of their own. These dynamics are indifferent to the political ideology or public policy of politicians.

A Trump administration could quickly be overwhelmed by a global liquidity crisis as the Bush administration was in 2007-08. In such a case, the global elites operating through the IMF, BIS and G20 will dictate solutions since they control the remaining liquidity levers, especially SDRs.

Trump could go along with the elite solution, which would involve cooperation with China, or he could fight the elites, in which case a new Great Depression could result.

Taking these various vectors into account, this is the most accurate assessment: The global economy is poised on a knife-edge between inflation and deflation.

The inflationary vector could dominate quickly, based on a combination of Trump deficits and Fed accommodation. Conversely, the deflationary vector could dominate based on fundamental factors such as a strong dollar, deleveraging, demographics and technology combined with premature Fed tightening.

Waiting in the wings is a systemic crisis, which could result in inflation (due to massive SDR issuance) or deflation (due to lack of a coordinated global response).

You should prepare for both.

Regards,

Jim Rickards
for The Daily Reckoning

The post Trump, Yellen and Systemic Risk appeared first on Daily Reckoning.

President Donald Trump Speech Today 1/26/2017 at GOP Retreat 2017 In Philadelphia, PA

Posted: 26 Jan 2017 01:30 PM PST

Congratulations to the Backbone and Hardworking AMERICAN Patriot,s who have Elected a Man Trying with Everything he Knows and Has Learn,t To Make AMERICA GREAT AGAIN... The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Gold Seeker Closing Report: Gold and Silver Fall Again

Posted: 26 Jan 2017 01:22 PM PST

Gold fell $15.54 to $1184.56 in midmorning New York trade before it bounced back higher into the close, but it still ended with a loss of 0.92%. Silver slipped to as low as $16.683 and ended with a loss of 1.12%.

India mulls reviving colonial-era gold mines with $2 billion in reserves

Posted: 26 Jan 2017 12:00 PM PST

By Neha Dasgupta
Reuters
Thursday, January 26, 2017

NEW DELHI -- India is planning to revive a cluster of colonial-era gold mines -- shut for 15 years but with an estimated $2.1 billion worth of deposits left -- as the world's second-largest importer of the metal looks for ways to cut its trade deficit, officials said.

State-run Mineral Exploration Corp. Ltd. has started exploring the reserves at Kolar Gold Fields, in the southern state of Karnataka, to get a better estimate of the deposits, according to three government officials and a briefing document prepared by the federal mines ministry that was seen by Reuters.

The ministry has also appointed investment bank SBI Capital to assess the finances of the defunct state-run Bharat Gold Mines Ltd., which controls the mines, and the dues the company owes to workers and the authorities, said the officials, who are involved in the process.

India, the world's biggest gold importer behind China, spends more than $30 billion a year buying gold from abroad, making the metal its second-biggest import item after crude oil. ...

... For the remainder of the report:

http://www.reuters.com/article/us-india-gold-reserves-idUSKBN15A05N



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Gold exports to China soar in run-up to year of the rooster

Posted: 26 Jan 2017 11:55 AM PST

By Ranjeetha Pakiam and Eddie Van Der Walt
Bloomberg News
Thursday, January 26, 2017

Gold exports to China soared in the run-up to the start of the lunar new year, with volumes increasing in December from major suppliers Switzerland and Hong Kong.

More gold was sent from Swiss refiners to the world's top consumer than in any month since at least January 2014, according to data on the website of the Swiss Federal Customs Administration, while imports from the Asian city-state also increased compared with November.

China is the world's top gold consumer, according to data from researcher Metals Focus Ltd., and the start of the Year of the Rooster this week is associated with gifting the precious metal. Lower prices at the end of last year, brought on by a stronger dollar as the U.S. increased interest rates, supported demand. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-01-26/china-s-gold-imports-...



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RON PAUL: TRUMP SHOWS US THE WAY TO FREEDOM

Posted: 26 Jan 2017 10:30 AM PST

 Alex Jones talks with Ron Paul about how he feels about Donald Trump and what he's accomplished so far as President of the United States. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

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Precious Metals v. Mining Stocks: What You Need to Know

Posted: 26 Jan 2017 08:47 AM PST

By David Smith : Most readers of this column own (or plan to own) physical precious metals – gold and silver, perhaps even some platinum or palladium. They may also own mining stocks. But which category is "best"? It's like asking, "What's the most efficient exercise?" or "What's the best fishing lure?" Truth be known, it's really about what you wish to accomplish! Here is my considered opinion...

Russia sells giant gold deposit to Polyus-led joint venture

Posted: 26 Jan 2017 08:29 AM PST

By Polina Devitt
Reuters
Thursday, January 26, 2017

MOSCOW -- A joint venture between Russia's top gold producer Polyus and state conglomerate Rostec has bought the rights to develop Sukhoi Log, one of the world's largest untapped gold deposits, for 9.4 billion rubles ($158 million).

Russia competes with Australia for second place among the world's largest gold producers and has one of the world's largest gold reserves. The ore of Sukhoi Log, which translates as "dry gully" in English, contains about one fifth of Russia's gold reserves.

After 20 years of assurances that it would sell the deposit to investors, the Russian government sold it today at a relatively cheap price as officials hope production will result in new tax revenues and jobs.

Sukhoi Log will require up to $5 billion in investments, according to industry estimates based on a 10-year-old state feasibility study. ...

... For the remainder of the report:

http://www.reuters.com/article/russia-sukhoilog-idUSL5N1FG23A



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At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold


Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

http://www.goldenpredator.com/_resources/news/nr_2017_01_19.pdf



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Chart of the Day - GLD

Posted: 26 Jan 2017 07:57 AM PST

During the advancing phase price tends to stay overbought for long periods of time and bounce quickly from oversold levels.

Precious Metals v. Mining Stocks: What You Need to Know

Posted: 26 Jan 2017 07:32 AM PST

Most readers of this column own (or plan to own) physical precious metals – gold and silver, perhaps even some platinum or palladium. They may also own mining stocks. But which category is "best"? It's like asking, "What's the most efficient exercise?" or "What's the best fishing lure?" Truth be known, it's really about what you wish to accomplish! Here is my considered opinion...

Physical gold demand slid to 7-year low in 2016, GFMS says

Posted: 26 Jan 2017 06:54 AM PST

By Jan Harvey
Reuters
Thursday, January 26, 2017

LONDON -- Physical gold demand fell 20 percent last year to its lowest since 2009, GFMS analysts at Thomson Reuters said in a report today, as a rebound in prices after three straight years of losses blunted appetite for the metal.

Buying of jewellery, coins, and bars, plus official sector and industrial demand, fell to 3,349 tonnes last year from 4,184 tonnes in 2015, the analysts said, the lowest in seven years.

That helped lift the net surplus in the gold market to 1,176 tonnes, up from just 220 tonnes in 2015 and the biggest physical surplus this century. ...

... For the remainder of the report:

http://www.reuters.com/article/gold-gfms-idUSL5N1FE622



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UK Economy Post BrExit Boom! Academic and Mainstream Press Clueless Reporting Continues

Posted: 26 Jan 2017 03:49 AM PST

Its now over six months since the establishment elite prophesied a post BrExit economic collapse apocalypse, a message that clueless academics have continued to regurgitate across the mainstream press for the duration since. However, the most recent economic data continues to paint the exact opposite picture as GDP for the last 3 months of 2016 came in at a very healthy 0.6%. Which in itself followed 0.6% for the preceding quarter, a time when the UK economy was supposed to be in a state of economic collapse! A collapse that has FAILED to materialise! Instead the UK is probably the worlds fastest growing developed economy.

Italy's Bank Rescue Foreshadows Nationalization of More EU Banks

Posted: 26 Jan 2017 02:49 AM PST

On December 7, 2016, Italy's Prime Minister Matteo Renzi resigned following defeat in a national referendum, that he had supported, that would have changed the country's parliamentary system. The development, which represents just the latest sign of anti-EU sentiment spreading throughout Europe, was felt acutely by Italy's troubled banking sector. In particular, the Banca Monte dei Paschi di Siena (MdP) has been teetering on the brink of collapse and now may stand as a case study that may be encountered by other EU member nations.

Two Gold Ratios You Should Watch

Posted: 26 Jan 2017 02:34 AM PST

As Gold and gold mining stocks approach strong resistance, we wonder if the outcome will be a sharp selloff or a period of bullish consolidation. While there are a handful of things we can examine (sentiment, momentum, relative strength, etc), today we will focus on Gold and its relative strength against two key markets. How Gold fares against Bonds and foreign currencies in the weeks ahead could be a hint of its trend heading into spring.

Breaking News And Best Of The Web

Posted: 26 Jan 2017 01:37 AM PST

US stocks up, gold and silver down. President Trump begins with flurry of changes to Obamacare and NAFTA. Earnings season starting well for banks and miners. Global debt continues to soar, especially in China. Fake news debate rages. Brexit hits speed bumps.   Best Of The Web These are the countries with the biggest debt […]

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

2017 Could Be Transformative for Integra Gold

Posted: 26 Jan 2017 12:00 AM PST

Integra Gold's recently released drill results on the Triangle deposit continue to show mineralization continuity, and more than one research firm highlights that 2017 is shaping up to be a potentially transformative year for the company.

Trump’s Expected Ambassador to EU Says “Short the Euro, Collapse May Come in 12 to18 Months”

Posted: 25 Jan 2017 04:00 PM PST

Professor Ted Malloch, Trump's expected ambassador to the EU says "The one thing I would so in 2017 is short the euro." I am not certain there will be a European Union in which to have negotiations… The one thing I would...

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