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Thursday, January 31, 2013

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Gold World News Flash 2

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Consolidation over? Is gold at the turning point?

Posted: 31 Jan 2013 07:02 PM PST

As general perception that economic decline, and its corrosive effects on individual wealth, comes home to the general public gold could well be poised for its next upwards surge.

You are in great danger if you don't own any gold - Faber

Posted: 31 Jan 2013 03:45 PM PST

Gloom, Boom & Doom author and money-manager Marc Faber has urged investors to buy more gold, saying they are in great danger if they don't own any.

The frightening reason one country could be bringing home its gold

Posted: 31 Jan 2013 12:53 PM PST

From Jeff Clark, Senior Precious Metals Analyst, Casey Research:
 
The best indicator of a chess player's form is his ability to sense the climax of the game. –Boris Spassky, World Chess Champion, 1969-1972
 
You've likely heard that the German central bank announced it will begin withdrawing part of its massive gold holdings from the United States as well as all its holdings from France. By 2020, Bundesbank says it wants half its gold reserves stored in its own vault in Germany.
 
Why would it want to physically move the metal from New York? It's not as if U.S. vaults are not secure, and since Germany already owns the gold, does it really matter where it sits?
 
You may recall that Hugo Ch&cute;vez did the same thing in late 2011, repatriating much of his country's gold reserves from London. However, this isn't a third-world dictatorship; Germany is a major ally of the U.S. So what's going on?
 
On the surface, it may seem innocuous for Germany to move some pallets of gold closer to home. Some observers note that since Russia isn't likely to be invading Germany anytime soon – one of the original reasons Germany had for storing its gold outside the country – the move is only natural and no big deal. But Germany's gold stash represents roughly 10% of the world's gold reserves, and the cost of moving it is not trivial, so we see greater import in the move.
 
The Bundesbank said the purpose of the move was to...
 
 
More on gold:
 
 
 

Gold RUSH: Americans bought an incredible amount of gold and silver this month

Posted: 31 Jan 2013 12:53 PM PST

From SHTFplan:
 
... Americans who sense uncertainty in the air are flocking to the safety of physical resources.
 
... According to the [U.S.] mint, investors purchased nearly half a billion dollars in gold and silver in the last 30 days. There was, in fact, so much money shifting into physical precious metals in January that the mint was actually forced to cease operations because they couldn't meet demand.
 
A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011.
 
After halting Silver coin production/sales for over a week, the Mint re-opened yesterday and demand once again surged.
 
Having almost doubled from the first week in January, there remains two more days before the book is closed on January's sales.
 
At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost...
 
 
More on precious metals:
 
 
 

Powerful chart shows a massive financial crisis is headed for this country

Posted: 31 Jan 2013 12:53 PM PST

From Azizonimics:
 
Things don't look so good for China...
 
Will we see a Chinese financial meltdown in 2013? Or 2014? Or 2015? With global GDP growth on a definite trend downward, with such a tepid Western recovery, and with global geopolitical tensions still high, the last thing the global economy needs is a financial crisis at the heart of the BRIC growth engine.
 
But the data implies that that may just be what we get.
 
To those who believe that China is immune to such a thing, recall that...
 
 
More on China:
 
 
 

Gold mitigates emerging market forex risks – WGC

Posted: 31 Jan 2013 12:08 PM PST

A new report by the World Gold Council suggests that gold's unique characteristics are particularly relevant to investors with emerging-markets exposure.

Silver - Nothing Doin' Yet

Posted: 31 Jan 2013 12:06 PM PST

Yesterday silver looked as if it was setting up to make another test run at stubborn overhead resistance near the $32.50 level, the top of its recent trading range. Today - well, to put it bluntly, "nothin' doin'".

The ferocity of the retreat away from yesterday's high is a bit surprising to me given the big push higher yesterday. A couple of things - end of the month positioning is being seen in quite a bit of the markets that I regularly trade today and that is causing some pretty wild swings in price.

Secondly, the continued meltdown in the mining sector shares (HUI and XAU) is completely undermining strength in the metals over at the Comex. Any time would-be bulls get ready to make their move into the metals, they take one look at the HUI or the XAU and then go back to sleep. There is no reason to chase precious metal prices higher as long as the mining shares continue to reek.

The HUI is on track for its worst monthly close in THREE YEARS. What it will take to generate any buying of sufficient size to reverse the downtrend is unclear. Value-based buyers are present but are being overwhelmed by the non-stop selling hitting the sector. I get the sense from the price action that the shares are on the receiving end of a position among several larger players that has gone seriously awry. They are being forced out kicking and screaming but also bleeding profusely. When you continue to stretch a valuation of the HUI to gold to levels last seen more than FIVE YEARS AGO, someone is in trouble. When the overstretched rubber band finally does snap back, it will be quite fierce but as to when that might occur, I am unclear.

For now, there is still no sign of any definitive bottom in the mining sector.

For that to occur, the Comex metals are going to have to be able to cast off the share-related drag on their price and clear the top of their respective trading ranges. That has not yet been able to occur.

As you can see on the price chart below, the RSI failed, once again, to take push past the 60 level. That means the sideways range trade remains in effect.



Yesterday the market pushed strongly through the 50 day moving average; today it plunged right back down below it. It does remain at this point above the 200 day moving average; a slightly friendly development unless proven otherwise.

I am not sure what it will take to push these metals higher. Yesterday there was a rash of shortcovering and some fresh buying based on the lousy Q4 GDP number that had traders convinced that any talk of premature ending of QE4 was nonsense. Today, there was some second guessing that even with the higher unemployment claims number. Some are looking past today's numbers towards the payrolls number and are expecting to see some decent numbers. If the number comes in higher than expected, I would guess the metals will see further pressure on the idea that the Fed will cut short the QE program in spite of the backward looking GDP number. Remember, markets look forward not backward.

If the number comes in as expected or below consensus expectations, I think we can look for the metals to breathe a sign of relief as it will reinforce the idea that while the economy might be recovering somewhat, it is still not able to stand on its own two feet without continued easy money policies.

That means, we wait and see what the morrow brings. Sentiment in the shares is rotten; absolutely rotten but it can still get worse. Some keep pointing to this fact as proof that a turnaround is near. They might be right. The problem is you will need more than lousy sentiment to start a sustained rally - you need bullish enthusiasm. Haven't seen any sign of that yet.

Parts 3-5 of the All Star Roundtable Podcast

Posted: 31 Jan 2013 11:59 AM PST

Parts 3-5 of the Roundtable podcast with Bix Weir of RoadtoRoota.com, Miles Franklin's Ranting Andy Hoffman and Bill Murphy of GATA.com.  Mediated by Elijah Johnson of Unconventional Finance:

JPMorgan and Citibank CRIMINAL MARKET MANIPULATORS?

 

JPMORGAN SILVER SCANDAL to IMPLODE the ECONOMY

 

Paper Silver to CRASH, Physical Silver to SKYROCKET

Did you miss parts 1 and 2?  Here is the link:

All Star Round Table Discussion on Gold

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    None Found

Audiocodes: Over-The-Top Quarterly Cash Flows On OTT Future

Posted: 31 Jan 2013 11:32 AM PST

By Josh Franklin:

Yesterday morning, Audiocodes (AUDC) reported its fourth-quarter and year-end 2012 results, as well as presented its annual financial outlook for 2013. The company didn't disappoint me, or my followers on the long side, as it reported revenues of $32.8 million and EPS of $0.03. Furthermore, the company generated an unexpected cash flow of $8.4 million.

Audiocodes has clearly benefited from a product shift and a cost reduction plan, and it is positioned to take advantage of a big upside as enterprises focus on using over the top (OTT) VoIP applications to handle their voice services. VoIP at its core is known or thought of as a legacy technology, but in truth OTT is about to take VoIP on another leg of growth as the technology has dozens of startups and large multibillion-dollar tech titans positioning themselves to deliver high quality and highly reliable voice calls to the enterprise.


Complete Story »

Royal Gold's CEO Discusses F2Q2012 (Qtr End 12/31/12) Results - Earnings Call Transcript

Posted: 31 Jan 2013 11:28 AM PST

Royal Gold, Inc. (RGLD)

F2Q 2012 Earnings Call

January 31, 2013 12:00 pm ET

Executives

Karen Gross - VP and Corporate Secretary

Tony Jensen - President and CEO

Bill Zisch - VP, Operations

Stefan Wenger - CFO and Treasurer

Bill Heissenbuttel - VP, Corporate Development

Bruce Kirchhoff - VP and General Counsel

Stan Dempsey - Chairman.

Analysts

Michael Peterson - MLV & Company

Shane Nagle - National Bank Financial

Presentation

Operator

Good afternoon, ladies and gentlemen. My name is Aaron and I will be your operator today. At this time, I would like to welcome everyone to the Royal Gold Fiscal 2013 Second Quarter Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, we will have a question-and-answer session. (Operator Instructions). I would now like to turn the call over Ms. Karen Gross. Ms. Gross, you may begin your conference.

Karen


Complete Story »

The multiplier impact of Randgold’s big Kibali gold mine in DRC

Posted: 31 Jan 2013 10:55 AM PST

Randgold's CEO, Mark Bristow, has issued a statement on the huge value a major mining project like its Kibali gold project, can bring to an emerging nation's economy.

Look at South Korea vs Japan. Since 1982 the won is down 77% against the yen. What’s happening to Japan as a result?

Posted: 31 Jan 2013 10:50 AM PST

Key Charts, Propaganda, Gold, Silver & The Ongoing Collapse "A couple of days ago Swiss banks came out with a major PR campaign offering allocated gold and silver accounts. Well, Eric, that's nothing new, they have always done that. The … Continue reading →

SA platinum, gold mining electricity costs up $780m since 2007

Posted: 31 Jan 2013 10:16 AM PST

South Africa's Chamber of Mines says platinum and gold miners have seen electricity price increases of 258% and 143% respectively over the last four years, adding about R7bn in costs.

This Time the Threat is Economic, Not Atomic

Posted: 31 Jan 2013 09:50 AM PST

READ THE FULL NEWSLETTER

It just dawned on me – I grew up in a generation that believed the world as we know it could come to an end at any time.  We were told to duck beneath our wooden school desks, with an inkwell hole on the top.  The Cold War was part of our existence – but, the worst never happened.

Today, many of my contemporaries and I thinks the world as we know it is about to come to an end – at least an end of a life style we are used to.  This time, the threat is economic, not atomic.  We worry about the end of the dollar and the dreaded hyperinflation.  Not to say our worries are misplaced!  But maybe we are just programmed to see that particular side of life?  Well, we say, we've got facts and figures and math on our side.  Yes we do, but when I was young, there were plenty of logical arguments to support our concerns too.

What am I saying here?  Am I saying I am wrong about my views of the issues and the lack of solutions?  No, I absolutely believe my views and concerns are legit.  But I suppose I felt the same way in the 50s too.  So, let's hope I'm wrong this time too.  I really don't want to be right.

So what am I going to do about it?  Nothing!  I still believe I am right.  The primary difference between my concern as a kid and now is that now I think I can make better judgments, but most people are a product of their education and the media.  These days, the liberal and Keynesian school system and the MSM have not been doing a decent job of enlightening us.  We have to do it on our own and find our own "credible" sources of information.  I just hope that we are one of those "credible sources of information" to you.

The last few days are so predictable – we approach an options expiry date, the bullion banks smack-down gold and silver to avoid paying off on bullish contracts and then, a day or two later (Wednesday), most of the pull back is reversed.  Still, we need to push $1700 behind us and the sooner the better.

I would send this to Backwoods Jack, whose son, Backwoods III and banker friends say the economy is fine, and I am a wingnut for suggesting otherwise.  I wonder what they would have to say about the following… but since I have stopped sending him my newsletter, he will remain in the dark.  He wouldn't acknowledge it anyways.

How to Counter American Pessimism – sovereign-investor.com

Bob Bauman (January 29, 2013)

A national Gallup poll taken January 7 through January 10 paints a picture of a pessimistic America, where most people believe the country's best days are past. 


According to this poll, 61% rated the current situation in America as decidedly negative, about the same as in 2010, the lowest recorded by Gallup since President Jimmy Carter's term in 1979, at a time when the economy was in terrible shape with inflation at 14%. 

The only other comparable low point came in 1974 during the Watergate scandal and President Nixon's resignation. Less than half the people, 48%, now have any optimism about improvement in the country within five years, also the lowest since 1979.

Continue reading on Sovereign Investor

Or how about this article from Paul Krugman, who is also very Liberal and believes, as all Keynesians do, that we can solve our problems by printing MORE money – which I say is the cause of the problem to begin with.  But he is respected by Main Street and is an award-winning economist, the kind Backwoods' son and banker friends are apt to quote. Here is what he has to say, courtesy of MoneyNews.com

Krugman: 'Depression Conditions' Continue in the US – MoneyNews.com

Tuesday, 29 Jan 2013 01:31 PM

By Michelle Smith

The U.S. economy is not ready to stand on its own, therefore the Federal Reserve should "keep the pedal to the metal" and continue quantitative easing (QE) well into 2015, Nobel Prize winning economist Paul Krugman tells Yahoo.

Krugman's arguments in favor of long term QE come as the Federal Reserve holds its first policy meeting of the year. 

(David's Comment: At least we agree on something)

Economists are generally confident that the central bank will keep the aggressive bond buying programs in place — for now. But, the question plaguing the minds of many is when will it end?

Speculation that the Fed may wind down quantitative easing programs this year was driven by the release of minutes from the December Federal Open Market Committee meeting.

The minutes stated that "several [members] thought it would probably be appropriate to slow or to stop purchases well before the end of 2013, citing concerns about financial stability and the size of the balance sheet."

Krugman argues that the economy is still ailing and now is not the time for the Fed to give consideration to such ideas.

"Almost 4 million workers have been out of work for more than a year," he tells Yahoo. "We haven't had anything like that since the 1930s," he adds.

"If the Fed can convince people that it's going to keep the pedal to the metal … that still has some leverage on the economy,"

While many cite the possibility that the Fed's policy may spark inflation, Krugman notes that inflation of 3 or 4 percent could be helpful.

(David's Comment: Maybe so, but unfortunately I follow John Williams and inflation is already running at 10%)

While he acknowledges that the economy is in the midst of a slow recovery, he says the United States continues to suffer from "depression conditions."

He also dismisses the concerns over the federal deficit. Krugman argues that the Federal government, like the Fed, need not lend its ear to calls for tightening spending, but rather insists that the path to better economic conditions is paved by more spending.

"There is no good reason dealing with debt should be a priority today," he says.

"A growing economy is the best solution to all our problems."

For those of you who are concerned with the potential drop in the value of the dollar, and are checking out the Swiss franc, the best of a bad bunch, note the following article – and then maybe you will understand why there aren't any currencies that will protect you the way gold, and silver do.

Swiss Ministers Seek More Depreciation of 'Strong' Franc – Bloomberg.com

By Zoe Schneeweiss - Jan 28, 2013 8:26 AM CT

Swiss ministers said the franc's strength remains a concern even after its recent slide against the euro to the weakest in 20 months.

"Euphoria is misplaced" and more depreciation is needed, Finance Minister Eveline Widmer-Schlumpf told reporters at the World Economic Forum in Davos, Switzerland on Jan. 26. "The franc is still very strong."

The Swiss National Bank imposed a ceiling of 1.20 francs to the euro in September 2011 to protect exporters as surging bond yields in Europe's weakest economies pushed investors to seek the safest assets. The currency has since weakened as signs Europe's debt crisis is easing sapped demand for havens.

Continue reading on Bloomberg.com

And you really should be concerned with the performance of the dollar.  The Chinese are, and they are our bankers.

China tells U.S. to slow money printing presses – Reuters.com

DAVOS, Switzerland | Fri Jan 25, 2013 2:23pm EST

A senior Chinese official said on Friday that the United States should cut back on printing money to stimulate its economy if the world is to have confidence in the dollar.

Asked whether he was worried about the dollar, the chairman of China's sovereign wealth fund, the China Investment Corporation, Jin Liqun, told the World Economic Forum in Davos: "I am a little bit worried."

Jin said he was confident that the Obama administration and Congress would ultimately solve the debate over the so-called fiscal cliff, "but of course the printing machine will have to slow down for people to have full confidence in the dollar".

Continue reading on Reuters.com

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Latest Gold & Silver Waterfall Erases Wednesday's Big Gains

Posted: 31 Jan 2013 09:47 AM PST

Gold and silver have been hammered throughout COMEX trading today, with waterfall declines erasing the gains made yesterday on the large pops ahead of the FOMC statement on the GDP disappointment. Silver is down over $1 from yesterday's highs to $31.04, and gold is down $20 to $1656. Freedom Girl Now Available From the Silver [...]
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Gold remains key to Kyrgyzstan GDP

Posted: 31 Jan 2013 09:27 AM PST

The impoverished nation is demanding a more generous deal from Centerra Gold, the powerful Canadian company that has operated the mountaintop Kumtor mine for the past 16 years.

18.3 M oz SLV Deposit & JPM’s New Silver Vault: JPM Discovers Way to Bypass COMEX Re-entry Process

Posted: 31 Jan 2013 09:02 AM PST

Why Was 18.3Moz of Silver Deposited into the SLV Jan 16th? The obvious answer is "JPM opened a new warehouse!". However, that does not answer the question, as only 10 Moz went into their new warehouse. The experts seem to … Continue reading →

18.3 M oz SLV Deposit & JPM's New Silver Vault: JPM Discovers Way to Bypass COMEX Re-entry Process

Posted: 31 Jan 2013 09:00 AM PST

Submitted by AboutAG: Why Was 18.3Moz of Silver Deposited into the SLV Jan 16th? The obvious answer is "JPM opened a new warehouse!". However, that does not answer the question, as only 10 Moz went into their new warehouse. The experts seem to agree that one of the most plausible explanations is that JPM closed out their [...]
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[KR400] Keiser Report: Bond-Pocalypse Now

Posted: 31 Jan 2013 08:27 AM PST

For our 400th episode, we discuss Obeelzebub and Jamie Demon as the inevitable outcome of collateral faking, zombie banking and paper printing. They also discuss Russia's central bank buying gold while David Cameron is telling porkies about UK national debt. … Continue reading →

Geithner on Plans to Replace Bernanke: “No Chance of That”

Posted: 31 Jan 2013 08:00 AM PST

Former Treasury Secretary Timothy Geithner has given the odds for his nomination as Fed Chairman to replace Bernanke as the same as he gave the odds of a US debt downgrade in June of 2010:  "no chance of that".   Freedom Girl Now Available From the Silver Bullet Silver Shield Collection at SDBullion.com!! MarketWatch reports that [...]
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Silver jewellery exports to hit new high in India

Posted: 31 Jan 2013 08:00 AM PST

Silver exports are likely to go up by 25-30% this year against $797 million a year ago while gems and jewellery exports are expected to rise 15% against $38.28 billion worth of overseas shipments in the previous year.

Investors "in great danger" if they don't own gold, warns Faber

Posted: 31 Jan 2013 07:56 AM PST

"A year ago, the mood in Europe was horrible and nobody could see how on earth stocks could go up," says Gloom, Boom & Doom author and money-manager Marc Faber, who urged CNBC anchor Maria Bartiromo to buy gold earlier this week.

Kazakhmys 2012 Silver output exceeds guidance at 12,643 koz

Posted: 31 Jan 2013 07:46 AM PST

The London based company in a statement said gold production last year hit 129,000 oz as the company have met production targets for the fifth consecutive year.

Silver price spikes over $32 again as 15 month head & shoulders pattern forms on the gold:silver ratio

Posted: 31 Jan 2013 07:40 AM PST

It's clear that the $32.4 area is now the important level that silver must break-through to get the silver-shorts running for cover. This is now the forth time that silver has spiked into the $32...

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Faber to Maria: "You don't own gold and you are in great danger"

Posted: 31 Jan 2013 07:13 AM PST

Respected CNBC financial journalist Maria Baritromo interviewed Marc Faber, a contrarian Swiss investor and publisher of the "Gloom Boom and Doom Report."

DOW Challenging 2007 Highs, Or Is It?

Posted: 31 Jan 2013 07:10 AM PST

HOUSTON -- The Dow Jones Industrials are currently collectively challenging their 2007 highs in nominal terms as shown in the 20 year monthly chart below.

20130131-Dow Nominal

(More...)

But when we compare the DOW to gold we see a different picture entirely. 

The chart below is the DOW in terms of gold metal, priced in USD.  Essentially, when we compare with the chart above, it is a measure either of how much purchasing power gold has gained or how much purchasing power the world's reserve fiat currency has lost, which in our view is the very same thing. 

 

20130131-DowGold

The DOW may be challenging its 2007 highs in nominal terms, but it is doing so with much, much weaker units of exchange. 

The fact that the DOW is just now attempting to best the 2007 highs should not be surprising.  What is surprising is that so much attention is focused on that "event" instead of what the central planners and central bankers have done to the currency in order to just get back to 2007 highs nominally. 

Nominal gains always need to be viewed in relative real terms in order to understand them in context. 

Witness just one of the effects of monetary debasement, or what we have dubbed "The Wages of QE."

One can protect a portion of their wealth by adding the real deal precious metals, preferably on dips, on a more or less regular schedule -- in order to offset the effects of worldwide fiat currency dilution.  Gold and silver are the real money -- the standards -- which all the members of the Fiat Currency Leper Colony will continue to be measured against, just as they have been for at least four thousand years.     

Gene Arensberg for www.GotGoldReport.com

 

Jim Sinclair: How to Beat the Devil by Gold and Silver Non Violent Resistance

Posted: 31 Jan 2013 07:00 AM PST

Legendary gold trader Jim Sinclair has sent an email alert to subscribers urging PM investors to stay the course, and to prepare to defend themselves against the bullion bank cartel.  Sinclair states that gold and silver investors can beat the devil by gold and silver non violent resistance.  Sinclair states that simply not selling, and [...]
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RCM to launch 'Untamed Canada' coin series

Posted: 31 Jan 2013 06:48 AM PST

A new 'Untamed Canada' series begins with the 2013 Arctic Fox Silver Coin. The coin features woodblock inspired art and showcases five different coin finishes, each with a separate degree of luster.

LBMA,IGE urged to end Iran Turkey Gold trade

Posted: 31 Jan 2013 06:22 AM PST

The trade of Turkish gold for Iranian crude oil is enabling the Iranian regime to evade sanctions and continue funding its nuclear program.

“Everybody in the Industry Knows the US Doesn’t Have the Gold”

Posted: 31 Jan 2013 06:16 AM PST

In this week's talk with National Numismatics' Tom Cloud, he explains why Germany's gold repatriation is just the beginning, the US Mint's silver shortage will continue, and the big money is right about precious metals.

DollarCollapse: Hi Tom. It's been an eventful few weeks in precious metals, though you wouldn't know from the price action alone. Hit the high points for us.

Tom Cloud: Germany's gold repatriation is obviously a game changer. They got all their gold back from France right away. But the US government put them off for 7 years, probably by offering them some kind of premium to take their gold back slowly. More gold, Treasuries, no one knows what exactly but clearly it was a big inducement. It's also clear that Germany won't be the last country to bring its gold home. The Netherlands is next and then probably Switzerland. It's become a game of musical chairs. No one wants to be caught when the music stops. And make no mistake, it will stop. Everybody in the industry knows the US doesn't have the gold and can't deliver it. They've leased it all out.

It's important to understand that there are two big stashes of gold in the US. Fort Knox supposedly holds the gold that belongs to us. And the New York Fed holds gold that has been deposited by other countries for safe keeping. That's where Germany's gold would be if the US hadn't leased it out.

DC: Then there's the US Mint running out of silver eagles.

TC: They sold out in the first three weeks of the year and had to stop taking orders. They've since started back up but demand is immense [editor's note: silver eagle sales are now running at roughly 5 times the December rate – see US Mint silver coin sales in January climb to a record ]. Premiums are way up on silver eagles since a lot of customers are willing to pay up for the most recognizable coin. Others are either waiting for the premiums to go down or are buying maple leafs or silver buffalo or philharmonics, which have lower premiums.

DC: I thought buffalos were US government coins. Why aren't they selling out too?

TC: The gold buffalo is made by the US Mint but the silver buffalo is not. It's made by a private mint, which we shouldn't name because we they don't need people calling them and bothering them. They're doing great though.

DC: So who's doing the buying now?

TC: Right now the big money is moving and the little money is not. The little guy is gonna wait till gold jumps over 1700 to start buying. We've been in this channel between 1600 and 1700 for a long time, but we'll break out pretty soon. Then you'll see everybody pile in.

DC: And what do your clients want to talk about?

TC: It seems almost funny for a gold guy to spend a third of his time answering questions about interest rates. But big gold buyers have a lot of bonds too. Everybody knows the top [in bonds] will be soon if we haven't already seen it. Just like people get the gold stashes confused, people also get confused on interest rates because they read about "no interest rate increases till 2014". But can you borrow money from the fed at zero percent? Not if you're not a bank. Interest rates aren't stable in the real world and have actually been edging up for a while. The rate on ten-year Treasuries is up from 1.6% to 2% lately. Very soon everyone will discover that the Fed can't control this.

For more information or to place an order, call 800-247-2812 or email Tom Cloud at tgcloud@bellsouth.net. Mention DollarCollapse.com for free shipping and insurance.

Faber to Maria: “You Don't Own Gold And You Are In Great Danger”

Posted: 31 Jan 2013 06:07 AM PST

CNBC financial journalist Maria Baritromo interviewed Marc Faber, a contrarian Swiss investor and publisher of the Gloom Boom and Doom Report. "You said a minute ago that markets go up and down, doesn't gold go up and down too?" said Baritromo.  "Yes it does go up and down but I am fearful of a systemic [...]
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SBV says Gold not an essential commodity

Posted: 31 Jan 2013 04:57 AM PST

Vietnam Gold Traders Association has called for the removal of the 10 per cent tariff on gold jewellery products which have more than 80 per cent gold content.

Is Capitalism Dead?

Posted: 31 Jan 2013 04:21 AM PST

Dylan Ratigan, Peter Schiff and a few others discuss the lack of capitalism and the state of the economy. Schiff thinks a collapse is imminent. Too much talking over each other but an interesting topic and observations. Share/Save

Perth Mint releases Year of the Snake Gold coin

Posted: 31 Jan 2013 04:08 AM PST

The Chinese Astrological series coins feature reverse designs with a snake motif representing the Chinese characters for 'Shou', 'Lu', and 'Fu', which mean 'Longevity', 'Success', and 'Prosperity'.

The gold price remains range-bound within its longer term bound-range – does the 55DMA hold the key?

Posted: 31 Jan 2013 03:55 AM PST

Yesterday we got a nice spike higher on the back of the re-recession news coming out of America. The gold price popped from $1663 to $1682 but this morning we've given up some of those gains to trade...

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Royal Australian Mint launches Canberra centenary Silver coins

Posted: 31 Jan 2013 03:50 AM PST

The coins are struck in 99.9% pure silver to proof quality, with a weight of 36.31 grams and diameter of 38.74 mm. The mintage is limited to 5,000 pieces.

UAE to end Iran bound Turkish Gold bar trade

Posted: 31 Jan 2013 03:28 AM PST

Although no official communique in this regard were issued by the UAE authorities,it was conveyed unofficially to all gold dealers after the US pressurized the tiny Arab nation.

The interest-rate swaps are the latest in a series of costly banking scandals that include insurance on loans and mortgages that was also mis-sold, rigged global benchmark rates and breaches of anti-money laundering rules.

Posted: 31 Jan 2013 02:41 AM PST

Mis-sold swaps may cost UK banks billions "I love my Keiser Ethical Silver."

Gold advances in Asia as dollar dips

Posted: 31 Jan 2013 02:34 AM PST

Analysts said the precious yellow metal is likely to extend gains during the day as asset purchases by the Fed boosted gold's safe haven appeal.

U.S. gold, silver production down in 2012 — USGS

Posted: 31 Jan 2013 02:25 AM PST

U.S. gold, silver production down in 2012 — USGS

The "2013 Mineral Commodities Summaries" released by the U.S. Geological Survey Tuesday revealed that, in 2012, the estimated total value of U.S. mineral production increased for the third consecutive year.

The estimated value of mineral raw materials produced at U.S. mines was $76.5 billion, a slight increase from $74.8 billion in 2011, according to the USGS.

Estimated total value of U.S. metal mine production in 2012 was $34.9 billion, down 3% from 2011. Principal contributors to the total value of metal mine production last year were gold (36%), copper (27%), iron ore (15%), molybdenum (10%), and zinc (4%). Average prices for most domestically mined metals decreased in 2012.

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