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- Ivory Coast tax proposal off table for now - Randgold
- Sibanye Gold CEO won’t tolerate illegal mining strikes
- Silver may be the new Gold
- Futures market retreat good for gold in the long term
- Chevron Gains On Improved Refining Margins And Asset Exchange
- Buy Yamana Gold On Its Key Metrics And Increased Production Guidance
- Fund managers' ardour for gold cooling
- Euro Loses Its Shine: Is It Merely Corrective?
- SILVER SMASHING SALES RECORDS & Government Lies – Jeff Nielson
- Interview With Taki Tsaklanos of GoldSilverWorlds.Com
- Gold & Silver COT Report 1/31/13: Commercials Increase Silver Short Position a Massive 14 Million Ounces!
- Yen Weakness Shows in Yen-Gold Price
- What Will it Take?
- The Bernanke shock and Germany’s gold repatriation
- Iranians shun own currency for Gold
- Mongolia to examine Oyu Tolgoi Gold concentrates
- FTSE:Gold price ratio hits 16 month high – but still below its rebound highs
- L'euro grimpe, grimpe, la BCE à nouveau mise en cause
- The Cantillion Effect: Why Government Handouts & Paper Fututures Markets Eliminate Real Price Discovery
- Motor group AAA reports drivers in Illinois and Indiana are paying the highest price ever at the beginning of February for a gallon of regular unleaded gasoline.
- Gold futures market retreat "good for gold in the long term"
- Gold reaches 155,180 yen/oz, new record in Japanese yen
- India to announce more gold linked schemes after budget
- Is There Anything in the Vault to Revalue?
- China to raise Gold reserves to 3% of forex reserves
- The World is Going to War- Gerald Celente
- CONSTANTINE SIGNS OPTION & JOINT VENTURE AGREEMENT WITH DOWA METALS & MINING
- What comes next for currencies and commodities after the record stockmarket high asks Forex.com
- Gold Reaches 155,180 Yen/oz – Highest Level Since 1980!
- Major Swiss banks raise Gold keeping fees
- Gold Reaches 155,180 Yen/oz – New Record In Japanese Yen
- Gold's industrial use falls on cheap substitutes in 2012
- US recycles 240 tons of scrap Gold last year
- Malaysia firm launches new Gold scheme amid scandals
- David Ceresne: Watch out when physical market for gold and silver detaches from paper
- Gold edges up in thin Asian trade
| Ivory Coast tax proposal off table for now - Randgold Posted: 04 Feb 2013 04:16 PM PST Randgold CEO Mark Bristow says the government of the Ivory Coast is longer considering a proposed windfall tax on gold mines. |
| Sibanye Gold CEO won’t tolerate illegal mining strikes Posted: 04 Feb 2013 02:54 PM PST Neal Froneman says anything illegal will not tolerated as the company prepares to review operations at its main assets in order to reassure investors. |
| Posted: 04 Feb 2013 01:00 PM PST Demand for physical silver has rocketed in the past few months, propelled by repeated "quantitative easing" (QE) in the US, the waiver of goods and services tax (GST) on precious metals here last October, and the belief that it is undervalued relative to gold. |
| Futures market retreat good for gold in the long term Posted: 04 Feb 2013 12:28 PM PST "The 'weak hands' are further retreating from the gold market, which is a good thing in terms of the long-term price prospects," says Commerzbank. |
| Chevron Gains On Improved Refining Margins And Asset Exchange Posted: 04 Feb 2013 12:13 PM PST By Trefis: Chevron (CVX) announced its Q4 2012 financial results on February 1, posting solid growth in net earnings and allaying investor concerns after a disastrous Q3 2012 performance. Chevron had an eventful Q3 2012 with several accidents and disasters that marked an impact on the company' production. Net earnings fell by 33% compared to the same quarter in 2011. Things were back to normal, however, in the last three months of the fiscal year as a revival in upstream production and a marked improvement in downstream margins helped boost net profit by 41% over Q4 2011. The company's earnings also received a huge billion-dollar boost on an Australian asset exchange. Chevron's general operational revival would have made a much bigger impact had the global prices for oil and oil products been as strong as last year's. Continuing with the trend seen through 2012, however, energy demand remained weak, particularly in the Complete Story » |
| Buy Yamana Gold On Its Key Metrics And Increased Production Guidance Posted: 04 Feb 2013 12:11 PM PST By Stock selection in the gold mining sector can be difficult. For reasons why I am generally bullish on the precious metals, please review prior articles here and here. The purpose of this article is to highlight some of the key metrics of Yamana Gold (AUY) relative to its major competitors, provide updated production information and highlight some operational risk. The following table can help point investors in the direction of stocks in the sector to consider. Three of the most important metrics for gold companies are cash cost per ounce of production, debt to equity ratio and current dividend yield. Table 1 shows that the lowest cost gold producer is AUY, followed by Goldcorp (GG). The company with the lowest debt to equity at 1.6% but a cash cost per ounce that is 2.5 times as high as AUY is Eldorado Gold (EGO). The Complete Story » |
| Fund managers' ardour for gold cooling Posted: 04 Feb 2013 11:57 AM PST Commodity fund managers say they currently favour industrial metals such as copper and iron ore, as well as platinum and palladium, over gold. |
| Euro Loses Its Shine: Is It Merely Corrective? Posted: 04 Feb 2013 11:56 AM PST By FXstreet: The euro came under pressure on Monday and retraced last week's gains as political turmoil, soft data, and profit taking weighed on EUR/USD. While Spanish Prime Minister Rajoy faces resignation calls on newspaper reports of allegations that he received illegal payments, Spain's employment figures came in below expectations. This, combined with a technical correction, sent EUR/USD back below the 1.3600 mark, and more importantly, below the 1.3550/40 support area. Aside from the euro, the FX market has been rather quiet. A cautious tone prevails in other financial markets, with stocks broadly lower, and gold gaining on its safe-haven status. Euro Falls Toward 1.3500 The shared currency extended its setback from a 14-month high of 1.3710 to a low of 1.3504 (200-hour EMA) during the New York session, making investors wonder if there is actually a top in place around 1.3700. A break below 1.3500 would fuel Complete Story » |
| SILVER SMASHING SALES RECORDS & Government Lies – Jeff Nielson Posted: 04 Feb 2013 11:45 AM PST Our friend Sean of SGTReport.com has released an interview with Jeff Nielson of Bullion Bulls Canada regarding the growing silver shortage, and the massive 7.4 MILLION ounces of silver eagles sold in January alone, a record. The US Mint can't keep up with demand for PHYSICAL and neither can the Royal Canadian Mint which produces [...] |
| Interview With Taki Tsaklanos of GoldSilverWorlds.Com Posted: 04 Feb 2013 11:00 AM PST A few weeks back, I did an interview with ambitious, talented writer Taki Tsaklanos of GoldSilverWorlds. Below is an article he wrote, based on that interview: Own Physical Gold & Silver as Currency Wars will Destroy our Money
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| Posted: 04 Feb 2013 10:24 AM PST Submitted by SD Contributor Marshall Swing: Gold & Silver COT Report 1/31/13 In the week ending 1/29/13, Commercials added 14,345,000 ounces net short while the silver price declined $1 during the period. Freedom Girl Now Available From the Silver Bullet Silver Shield Collection at SDBullion.com!! Just the charts this week: |
| Yen Weakness Shows in Yen-Gold Price Posted: 04 Feb 2013 10:20 AM PST Our friends at Stephen Flood's and mark O'Byrne's GoldCore.com write this morning: The benchmark gold on Tokyo Commodity Exchange (TOCOM) hit a record high of 5,000 yen a gram, driven by a weak yen and the continuation of the Bank of Japan's loose monetary policy. Gold bullion for delivery in December climbed as high as 1.2% to 5,000 yen per gram on the TOCOM. In ounce terms, the yen fell to 155,180/oz against gold, its lowest level since 1980. According to the data on Bloomberg, the all-time record high for gold priced in yen was 204,850 yen on January 21, 1980. Thus, yen gold remains 33% below the record intraday nominal high from 1980. Given the Japanese determination to devalue the yen to escape deflation, the record nominal high will almost certainly be reached in the coming months. Platinum also climbed 2.7% to 5,130 yen per gram for the same month, the highest level for the most-active contract since May of 2010. The yen was 92.97 per dollar on Feb. 1st its, the lowest ratio since May 2010. The Japanese yen dropped 2.1% last week its 12thweek of losses in a row. Despite Japanese Finance Minister Taro Aso claiming that "the objectives from the current government are not intended to weaken the yen" – that is exactly what is happening.
A cheaper yen boosts Japanese exporters. It helps increase the earnings abroad when they are funnelled back into yen, plus it lowers the price abroad of goods that are made in Japan and exported. The country's strong auto and electronics sector benefitting from the cheap yen are outperforming the benchmark index. The yen fell by more than 20% against gold in 2012 and analysts are concerned that Prime Minister Abe and his new government's determination to stoke inflation, devalue the currency and promote growth could lead to further falls in 2013. Competitive currency devaluations are set to continue and currency wars deepen and such beggar thy neighbour monetary policies will lead to debased currencies, inflation and the real risk of an international monetary crisis. -- Much more at the link below. Source: GoldCore.com http://www.goldcore.com/goldcore_blog/gold-reaches-155180-yenoz-new-record-japanese-yen Comment: Looking at a shorter term chart of the JPY Index in gold terms shows the December breakout clearly. Another battle underway in the ongoing currency wars - the Race to Debase. Note that the ratio above consolidated in a wide range for more than a full year before breaking out decisively. For comparison, below is the same chart in USDX terms. |
| Posted: 04 Feb 2013 09:00 AM PST What will it take? I've been following the price of gold (and silver) for 30 years. I have always wondered – what will it take to get the average American interested in precious metals? What will it take to launch gold into the "parabolic stage" that we haven't experienced yet? What would it take to ignite the awakening? When Y2K arrived I wondered, would this be the spark? It was not. When the stock market bubble popped in late 2000, I wondered, "Is this the event?" It was not. When the real estate bubble popped in 2008, along with the derivatives bubble, I thought, well maybe this time? It was not to be. Backwoods Jack asked me how come the war in Iraq and Afghanistan, Arab Spring, and the Iranian nuclear issue haven't resulted in an explosion in the price of gold. Clearly, they have not. The near-collapse of the PIIGS was, as far as gold is concerned, a non-event. Nor have QE 1, QE 2, Operation Twist and the Fed's announcement that they will keep interest rates near zero well into the future, and that they will purchase $85 billion in mortgage bonds and Treasury bonds every month. So I ask myself, for the umpteenth time, what will it take? There IS a Black Swan event out there that will be the fuse, but trying to predict what it is or when it will occur is futile. The last 30 years has made that clear to me. I can, along with Bill Holter and Andy Hoffman, argue that the end game IS a mathematical certainty. Of that, there can be no rational doubt. What I also know is that since we can't know "what" or "when," we must be early – we must prepare in advance. For those of you who were early, there is comfort in knowing you were not foolish. If you bought gold at $300, or $500, or $750, or $1,000, or $1,250, or $1,500 or even $1,600 – you have done well. The earlier the better! I am as certain as certain can be that those of you who bought your gold at $1,900 will be thrilled with the purchase later this year – or next. It doesn't matter, because this is not a contest to see who can buy at the lowest possible price, because that is impossible unless you are just plain lucky. All that matters is who WINS the game. I say, those who own a lot of gold and silver and very little dollars will be the winners, the big winners. If your only "sin" is being early, you are already ahead of the game. Gold and silver are your insurance policies meant to protect you against the "Black Swan" event that we cannot know in advance. The Swan is out there. I can't help believing that it will pay us a visit sooner rather than later.
The fact that I am worried about all of the previous events mentioned above, that did not cause a collapse of the economy, the currency or an explosion in gold and silver is irrelevant. My gains are huge. My portfolio is positioned to survive any Black Swan event. I am not doing it to make a killing. I am doing it to avoid being killed, financially speaking. And meanwhile, my wealth has been virtually entirely in the number one and two performing assets over the last five and ten years. And the best part is, the best is yet to come. The biggest gains are ahead of us. My biggest failing is being too early and it turned out to be a blessing. And all of the above can be said for my readers who have taken my advice. I don't hear any of you complaining of your gains. Anyways, who wants to see things fall apart? Unfortunately, for millions of Americans, things have already fallen apart – as demonstrated by the 24% unemployment number (Shadowstats). That number is something last seen during the Great Depression. You can view the future, the future of the dollar, the economy and the stock market through my prism – or you can view it through the eyes of your money manager, financial advisor or stockbroker. The choice is yours. Apart from being early, I rest on my record! Time to throw out my prediction of the real Black Swan event. Here it is: Rising interest rates, causing a collapse in the biggest bubble ever, the bond market. I take comfort that Bill Gross, THE bond maven agrees. Let's just hope it is a long ways off. I give it two or three years at the outside. But, I have been wrong before. Good luck to us all! Similar Posts: |
| The Bernanke shock and Germany’s gold repatriation Posted: 04 Feb 2013 08:52 AM PST The financial world was shocked this month by a demand from Germany's Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt.  |
| Iranians shun own currency for Gold Posted: 04 Feb 2013 08:48 AM PST Worries about the declining buying power of the rial and doubts over the currency's stability are the main drivers behind the flight to gold. |
| Mongolia to examine Oyu Tolgoi Gold concentrates Posted: 04 Feb 2013 08:41 AM PST Country's largest mine, Oyu Tolgoi LLC is on course for commercial production in the first half of 2013. |
| FTSE:Gold price ratio hits 16 month high – but still below its rebound highs Posted: 04 Feb 2013 08:28 AM PST The rally in the UK stock market has been nothing short of blistering since the middle of November. In under 3 months the FTSE has put on 12% whilst gold has traded sideways. However it should be... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]           |
| L'euro grimpe, grimpe, la BCE à nouveau mise en cause Posted: 04 Feb 2013 08:14 AM PST A 1,36 dollar, l'euro a atteint son plus haut niveau depuis septembre 2011. Paris s'en inquiète et souligne timidement la frilosité de la Banque centrale européenne (BCE) dont les marges de manoeuvre apparaissent pourtant limitées... Lire |
| Posted: 04 Feb 2013 08:00 AM PST By SD Contributor AGXIIK: As free or low priced money floods any economic system it skews the value of the FIAT and the goods paid for by this funny money. The government pays out $1,000,000,000,000 (trillion) in transfer payments a year. This is big money that has no effort, sweat or value recognition embedded in [...] |
| Posted: 04 Feb 2013 07:55 AM PST Bernanke – Chicago drivers pay top dollar for gas up 11% this month – Is this your idea of contained inflation?upi.com/Business_News/… — Planet Ponzi (@PlanetPonzi) February 4, 2013 Chicago drivers pay top dollar for gas |
| Gold futures market retreat "good for gold in the long term" Posted: 04 Feb 2013 07:37 AM PST Wholesale market gold prices hovered just below $1,665 per ounce Monday morning in London, having failed to hold onto gains in earlier Asian trading, as stocks and commodities also ticked lower along with the euro.  |
| Gold reaches 155,180 yen/oz, new record in Japanese yen Posted: 04 Feb 2013 07:29 AM PST The benchmark gold on Tokyo Commodity Exchange hit a record high of 5,000 yen a gram, driven by a weak yen and the continuation of the Bank of Japan's loose monetary policy.  |
| India to announce more gold linked schemes after budget Posted: 04 Feb 2013 07:06 AM PST India is trying to bring out the estimated 20,000 tons of gold held in households (largest in the world) into the banking system. |
| Is There Anything in the Vault to Revalue? Posted: 04 Feb 2013 07:03 AM PST
The above quote is all you need to know. Think about what Bill Buckler is saying here in such a simple , short and completely factual statement. The last time that the U.S. Treasury and Fed were losing credibility, U.S. debt was 1/17th what it is now (not even including all of the other guarantees and unfunded promises) yet Gold was only half the price it is now. Back then, there was only the "threat" of potential "insolvency" whereas now the potential or should I say "probability" of insolvency is pretty much carved in stone. If the market (left to its own) were to value Gold like it was back in 1980, it would need to trade somewhere in the $15,000 range. But even this figure would not be enough! If you added in all of the guarantees, agency debt and unfunded liabilities you would need a figure well north of $50,000 per ounce and this is assuming that no "bankruptcy" would occur as it did not after 1980. The point is this, Gold (and Silver) are grossly undervalued yet they are the target of Washington, Wall Street and the main stream media for warnings that they are in unsustainable bubbles. Gold (if you understand the math involved) is not only NOT in bubble territory, it is the "anti bubble" and the most UNDERVALUED asset on the planet (with the sole exception being Silver). I know that I have written on this subject many times but it is important that it be reiterated. In order to "refinance" or to make the system solvent again, gold MUST be revalued higher. The central banks and sovereign treasuries will thus come back into "balance" with a much higher gold price. The U.S. Treasury and Fed are in the same boat… IF and only IF we have the gold that we claim to have. This is a very important "minor detail," whether or not we have the gold. It is very simple. If we do have it, the holdings can revalued and "balance" the previous errors of our ways and if we do not… …if we do not then we have only one thing left, the world's largest military power. This is a very scary scenario because economically we will be in a shamble. We (the citizens) will see a massive (35% at absolute minimum) drop in living standards. "Handouts" will necessarily be cut and in general people will be pissed off. I bring up this facet because of the recent "drills" in both Miami and Houston.
Army Drill Terrorizes Houston Neighborhood I cannot ever remember anything like this before. I also cannot ever remember any agency outside of the military ordering over 1 billion rounds of ammunition or the IRS ordering 7,000 assault rifles. Something is definitely coming to a head and it just may be that gold gets revalued internationally which will leave us far behind if the vaults are truly empty! Protect yourself; no one else will! Similar Posts: |
| China to raise Gold reserves to 3% of forex reserves Posted: 04 Feb 2013 06:59 AM PST According to analysts China is continuing to quietly accumulate their reserves and diversify out of their massive $3.24 trillion of foreign exchange reserves. |
| The World is Going to War- Gerald Celente Posted: 04 Feb 2013 06:55 AM PST Top trends researcher Gerald Celente pulls no punches when he predicts, "The world is going to war." Celente says what is happening today happened before, prior to World War II. Celente says the pattern is the same as the one that started in 1929, "crash . . . depression, currency wars, trade wars, and world [...] |
| CONSTANTINE SIGNS OPTION & JOINT VENTURE AGREEMENT WITH DOWA METALS & MINING Posted: 04 Feb 2013 06:41 AM PST Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) ("Constantine" or the "Company") is pleased to announce signing the Option and Joint Venture Agreement (the "Agreement") with Dowa Metals & Mining Co., Ltd. of Japan ("Dowa") on the Palmer VMS project ("the Project"). The Agreement has received approval by Dowa's and Constantine's boards of directors, and formal signing of the Agreement was carried out on the evening of February 1, 2013. Garfield MacVeigh, President and CEO of Constantine states: "Dowa is an exceptional partner for the Palmer project and we are extremely pleased for the opportunity to be working together. They bring expertise with financial resources to join our team in the next steps to realize the full potential of the Palmer project."
As Operator, Constantine has commenced planning for the 2013 work program, with formal budget and work plan approvals expected within a few months. About the Palmer VMS Project Palmer is a high-grade VMS project located in a very accessible part of southeast Alaska, with road access to the edge of the property and within 60 kilometres of the year-round deep sea port of Haines. The project is host to a NI 43-101 compliant 4.75 million tonne inferred resource grading 1.84% copper, 4.57% zinc, 0.28 g/t gold and 29 g/t silver that is open to expansion (using an NSR cut-off of US$50/t; see news release dated January 20, 2010). About the Company Constantine is a gold and copper exploration company with multiple active projects located in premier North American mining environments. In addition to the flagship Palmer VMS Project, the Company's other major projects include; (1) the 100% owned Timmins area Munro-Croesus Project a past-producing mine property that yielded some of the highest grade gold ever mined in Ontario and includes strategically located claims immediately along trend from the 2.1 million ounce Fenn-Gib gold deposit; (2) the large Golden Mile property in the Timmins gold camp that is optioned to Teck Resources Ltd. who can earn up to 66% by spending $5M; (3) the 50/50 Joint Venture with Carlin Gold Corporation exploring an approximately 800 sq. km land position in an emerging new Carlin-type gold district in Yukon; and (4) the Trapper Gold Project in northern British Columbia that is optioned to Ocean Park Ventures Ltd. who carried out an 8,500 meter drill program on the property in 2011. Please visit the Company's website (www.constantinemetals.com) for more detailed company and project information. On Behalf of Constantine Metal Resources Ltd. "Garfield MacVeigh" President For further information please contact: February 4, 2013 (Source: Constantine Metal Resources) http://www.constantinemetals.com/news/index.php?&content_id=188 Disclosure: Constantine Metal Resources (CEM.V or CNSNF) is a Vulture Bargain Candidate of Interest (VBCI) and is our Vulture Bargain #6. Members of the GGR team are actively accumulating and hold long positions in the company. |
| What comes next for currencies and commodities after the record stockmarket high asks Forex.com Posted: 04 Feb 2013 05:46 AM PST The return of Forex.com research director Kathleen Brooks with her analysis of the week ahead for currencies and commodities. The stock market rally is now in overbought territory but that may not stop it moving still higher, she warns. Gold can be a big mover in these markets, however it is currently still range bound… |
| Gold Reaches 155,180 Yen/oz – Highest Level Since 1980! Posted: 04 Feb 2013 05:38 AM PST Gold bullion for delivery in December climbed as high as 1.2% to 5,000 yen per gram on the TOCOM. In ounce terms, the yen fell to 155,180/oz against gold, its highest level since 1980. According to the data on Bloomberg, the all-time record high for gold priced in yen was 204,850 yen on January 21, [...] |
| Major Swiss banks raise Gold keeping fees Posted: 04 Feb 2013 05:30 AM PST Analysts said the move is an attempt to persuade their biggest clients to take direct ownership of their gold in so-called 'allocated' accounts, with the bank simply acting as a custodian. |
| Gold Reaches 155,180 Yen/oz – New Record In Japanese Yen Posted: 04 Feb 2013 04:44 AM PST Competitive currency devaluations continue, currency wars deepen, and beggar thy neighbour monetary policies will lead to debased currencies, inflation and the real risk of an international monetary crisis. Today's AM fix was USD 1,664.25, EUR 1,224.52, and GBP 1,057.47 per ounce. Friday's AM … Continue reading |
| Gold's industrial use falls on cheap substitutes in 2012 Posted: 04 Feb 2013 04:43 AM PST However, with the increase in the price of gold and the global economic instability that began in 2008, investment in gold continued to increase, as investors seek safe-haven investments. |
| US recycles 240 tons of scrap Gold last year Posted: 04 Feb 2013 03:58 AM PST United States mined 1,050 tons of silver with an estimated value of $1.01 billion last year, down from 1,120 tons in 2011. |
| Malaysia firm launches new Gold scheme amid scandals Posted: 04 Feb 2013 03:42 AM PST Gold Bullion World Sdn Bhd said apart from selling physical gold to members, the company has a career development programme that will allow more Malaysians to invest in gold. |
| David Ceresne: Watch out when physical market for gold and silver detaches from paper Posted: 04 Feb 2013 03:22 AM PST GATA |
| Gold edges up in thin Asian trade Posted: 04 Feb 2013 02:49 AM PST Analysts said the precious yellow metal is likely to remain steady during the day as Asia's physical market saw light trading volume as the range bound prices sapped interest from market participants. |
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