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OEСD slashes global forecast, warns of global slowdown — RT

OEСD slashes global forecast, warns of global slowdown — RT | Gold and What Moves it. | Scoop.it
The world’s advanced economies will grow much slower in 2013, while the risk of a new global recession still remains, according to the Organization for Economic Cooperation and Development (OECD).
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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Real Time Gold Prices | Exact Price of Gold | Lear Capital

Real Time Gold Prices | Exact Price of Gold | Lear Capital | Gold and What Moves it. | Scoop.it

Get free real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

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#Silver: As Close to a No-Brainer Investment as It Gets

#Silver: As Close to a No-Brainer Investment as It Gets | Gold and What Moves it. | Scoop.it
Silver: As Close to a No-Brainer Investment as It Gets By Jeff Clark By Jeff Clark, Hard Assets Alliance Contributor Jim Rogers once quipped that he waits to invest until “there’s a pile of money j...
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Gold, Complacency, & Why Hookers And Bankers Share The Same Neighborhoods | Zero Hedge

Sometimes we are convinced it was completely by design, and not a weird little coincidence, that one of Germany’s most sprawling red light districts is just steps away from the European Central Bank. This fact becomes comically obvious right around happy hour... as self-congratulatory ECB economists and their bureaucratic bank underlings crowd the bars and cafes after work which are simultaneously frequented by pimps, thugs, and other assorted low-lifes. One would be forgiven for legitimately asking the question: which of these professions has done more damage to humanity? My [fiat] money’s on the bankers.
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30 stats to show to anyone that does not believe the middle class is being destroyed

30 stats to show to anyone that does not believe the middle class is being destroyed | Gold and What Moves it. | Scoop.it

The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically destroyed.  Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a staggering pace.  Yes, the stock market has soared to unprecedented heights this year and there are a few isolated areas of the country that are doing rather well for the moment.  But overall, the long-term trends that are eviscerating the middle class just continue to accelerate.  Over the past decade or so, the percentage of Americans that are working has gone way down, the quality of our jobs has plummeted dramatically and the wealth of the typical American household has fallen precipitously.  Meanwhile, we have watched median household income decline for five years in a row, we have watched the rate of homeownership in this country decline for eight years in a row and dependence on the government is at an all-time high.  Being a part of the middle class in the United States at this point can be compared to playing a game of musical chairs.  We can all see chairs being removed from the game, and we are all desperate to continue to have a chair every time the music stops playing.  The next time the music stops, will it be your chair that gets removed? ...

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Silver demand falls 75% in current fiscal; Traders blame poor monsoon and robust equity market - Shanghai Metals Market

Silver demand falls 75% in current fiscal; Traders blame poor monsoon and robust equity market - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
Demand for silver has plunged as much as 75% in India since the beginning of this fiscal even as prices have fallen almost Rs 4,000 per kg to Rs 43,000 compared to the previous year.
Silver demand falls 75% in current fiscal; Traders blame poor monsoon and robust equity market
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Top Chinese #gold miner sets aside $1bn for African buys

Top Chinese #gold miner sets aside $1bn for African buys | Gold and What Moves it. | Scoop.it
Zijin Mining Group looking to acquire sizeable gold and copper projects in Africa this year.
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Outlook for New Electrical & Electronic Uses of Silver - Shanghai Metals Market

Outlook for New Electrical & Electronic Uses of Silver - Shanghai Metals Market | Gold and What Moves it. | Scoop.it

Washington, August 2014

 

The Silver Institute has released a report titled “The Outlook for New Electrical and Electronic Uses of Silver.” The report identifies three key potential growth areas for silver demand: flexible electronics; light emitting diodes (LEDs); and interposers. These three growth areas combined have the potential to add another 20 million ounces of silver to total demand by 2018.

 

The report was produced by Metals Focus, the London-based independent precious metals research consultancy, on behalf of the Silver Institute.


Highlights of the report include:


According to Metals Focus, silver industrial demand, which accounts for over 50 percent of global demand, is expected to grow 5 percent per year from 2014-2016, outpacing forecasted global GDP growth. ...

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China allows 3 more banks to import gold - sources - GOLD NEWS - Mineweb.com Mineweb

China allows 3 more banks to import gold - sources - GOLD NEWS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it

Author: A. Ananthalakshmi & Fayen Wong (Reuters)
Posted: Tuesday , 19 Aug 2014 

SINGAPORE/SHANGHAI (REUTERS) - 

 

China has allowed three more banks, including a foreign lender, to import gold, sources with direct knowledge of the matter said, as the world's top gold buyer gears up for its strongest effort yet to gain pricing power of the metal.

 

The move, which brings the number of firms allowed to import gold into China to 15, comes ahead of the launch in September of a new international bullion exchange in Shanghai with which China hopes to become a price-discovery centre.

 

China and other Asian gold trading centres such as Singapore are calling for more localised pricing of the precious metal as they seek alternatives to the so-called London fix, the global benchmark for spot gold prices, which is being investigated by regulators on suspicion that it may have been manipulated. ...

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Future Cancer Treatment: Pieces of Gold?

Future Cancer Treatment: Pieces of Gold? | Gold and What Moves it. | Scoop.it
Experts have discovered a possible new cancer treatment, and it's dependent on little balls of gold. Very little: The nanospheres are 4 million times smaller than a hair's width. After spreading... Science News Summaries. | Newser
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Panic Out Of Fiat Currencies Accelerating Around The World

Panic Out Of Fiat Currencies Accelerating Around The World | Gold and What Moves it. | Scoop.it

By Robert Fitzwilson of The Portola Group

August 18 (King World News) - Panic Out Of Fiat Currencies Accelerating Around The World

 

Well-heeled collectors and investors descended upon Monterey, California this past week for the annual Pebble Beach Concours d’Elegance festivities and auctions. One of the cars that went up for auction was a very rare 1962 Ferrari 250 GTO seen below.

 

The “lucky” winner in the bidding for the car paid a staggering $38.115 million. Horse racing is not the only “game of kings”. The frenzied abandonment of fiat currency and conversion into real, although seemingly wildly overpriced, real assets continues for those attempting to preserve their capital....

Hal's insight:

Click through for the rest. It's stunning someone would pay that much for a car. But when it's monopoly money anyway....

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Indian gold demand to be driven by smuggling by 28% in 2014 - Shanghai Metals Market

Indian gold demand to be driven by smuggling by 28% in 2014 - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
Gold import through unofficial channels is likely to flourish in India during 2014, said P R Somasundaram, Managing Director-India Operations, World Gold Council. Indian gold demand to be driven by smuggling by 28% in 2014
Hal's insight:

I would not be surprised to learn that the smuggled gold was not greater than that.

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Barclays sees higher gold demand - Shanghai Metals Market

Barclays sees higher gold demand - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
The latest World Gold Council (WGC) Gold Demand Trends report confirmed the weakness across gold consumers. The gold physical market balance swung back into surplus in Q2 14, driven by falling jewellery demand and increased supply.
According to Barclays, although physical demand is likely to improve q/q in the seasonally strong period as we approach the end of the year, it will still fall short in providing gold prices with a solid floor. ...
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Geopolitical issues, interest rate provide support for Gold: ETFS

Geopolitical issues, interest rate provide support for Gold: ETFS | Gold and What Moves it. | Scoop.it
In a weekly report, it said gold may surprise investors to the upside this year, due to rising geo-political risks which are likely to escalate, less than robust growth data and central banks issuing decidedly dovish messages.
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The "Snowflakes" that Will Cause the Next Financial Crisis

The "Snowflakes" that Will Cause the Next Financial Crisis | Gold and What Moves it. | Scoop.it
The debt and leverage that Washington and Wall Street have built up over the years will eventually blow up. And when it does, it could be "worse than 2008." But there is at least one way to protect yourself. And today Dave Gonigam explains how you can get started before any of this occurs. Read on...
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India gold refiner predicts import curbs may be permanent - Mineweb.com

India gold refiner predicts import curbs may be permanent - Mineweb.com | Gold and What Moves it. | Scoop.it

Author: Prabhudatta Mishra (Bloomberg)
Posted: Thursday , 21 Aug 2014 

(BLOOMBERG) - 

 

Controls on gold imports by India will probably be permanent as the world’s largest consumer after China seeks to sustain a reduction in the current account deficit, according to the country’s biggest refiner.

 

The government may keep a rule that requires importers to supply 20 percent of their cargo to jewelers for re-export or introduce a system of quotas or licenses, said Rajesh Khosla, managing director at MMTC-PAMP India Pvt. The industry has to recognize there will be a “quantitative restriction” whatever policy is in place, he said in an interview in New Delhi.

 

India represented 25 percent of global demand last year and overseas purchases fell 43 percent in the first half of 2014 because of the curbs, World Gold Council data showed Aug. 14. Finance Minister Arun Jaitley kept the limits in his budget in July as he sought to narrow the deficit and support the rupee ...

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Fed optimism will give way to total economic meltdown

Fed optimism will give way to total economic meltdown | Gold and What Moves it. | Scoop.it

by John Crudele:

 

Janet Yellen is scheduled to speak to the world on Friday from the central bank’s annual gathering in Jackson Hole, Wyo. The Fed chairwoman will say, “Blah, blah, blah, blah, blah.”

 

After that, Mario Draghi, head of the European Central Bank, will take the stage and also say, “Blah, blah, blah, blah,” albeit in Italian-accented English.

 

Even if Yellen and Draghi say exactly the opposite, Wall Street — which is like an industrial-size clothes dryer on the high setting — will spin whatever words come out of the mouths of the world’s two most important bankers into the magical phrase, “Low interest rates will last forever.” ...

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Grant Williams - Why The Next Mania In Gold Will Be Parabolic

By Grant Williams Vulpes Precious Metals Fund

August 20 (King World News) - Why The Next Mania In Gold Will Be Parabolic

 

Looking back on it now, the Cold War was more Ali vs. Cooperman than Batman vs. Superman; but at the time, the world lived in fear of a cataclysmic resolution to the conflict. It seems like a lifetime ago; but those years between 1946 and 1991, when communism finally gave up the ghost, were fraught with fears over a rogue USSR.

 

Throughout the entire episode, the price of gold — the ultimate barometer of fear — performed as one would have expected it to — once Richard Nixon removed the shackles on August 15, 1971, of course. ...

 
Hal's insight:

Interesting read. Check out the charts. Certainly some food for thought.

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Gold may witness sideways trend for next six months

Gold may witness sideways trend for next six months | Gold and What Moves it. | Scoop.it
Florian Siegfried said mid-cycle corrections in gold tend to last up to four years. It has been more than three years now, probably 3.5 for the miners.
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Gold s fundamentals look very much like 15 years ago, says investment firm - Shanghai Metals Market

Gold s fundamentals look very much like 15 years ago, says investment firm - Shanghai Metals Market | Gold and What Moves it. | Scoop.it

Author: Paul Ploumis

 

EDGWARE (Scrap Monster): Tocqueville Asset Management sees gold ’s fundamentals very much like what it was fifteen years before. According to John Hatahaway and Douglas B. Groh, the gold’s set up is very much similar to what was experienced in 1999. During that time, gold was at the end of a 20-year bear market. Today, the huge drop in gold prices from a high of $1900 per ounce to less than $1200 per ounce in a short span of 2.5 years makes it a similar case, they observed.

 

According to them, geopolitical issues away from the headlines influence the demand for gold. Europeans are probably more conscious of gold today than they might have been six months ago. People want to get their wealth in a safe place. That will reinforce demand for gold as time goes by. ...

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This is Your Recovery and This is Your Recovery Without Drugs | The Burning Platform | Safehaven.com

This is Your Recovery and This is Your Recovery Without Drugs | The Burning Platform | Safehaven.com | Gold and What Moves it. | Scoop.it
The arrogance, hubris and contempt for morality displayed by the ruling class is breathtaking to behold. They think they are untouchable and impervious to norms followed by the rest of society. They may have won the opening battle, but will ...
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Is the LBMA Silver Price more transparent than the Fix? No! - SILVER NEWS - Mineweb.com Mineweb

Is the LBMA Silver Price more transparent than the Fix? No! - SILVER NEWS - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it

Author: Lawrence Williams
Posted: Tuesday , 19 Aug 2014 

LONDON (MINEWEB) - 

 

So now we have had three days of the new LBMA Silver Price – the new name for the London Silver Fixing given that the term ‘Fix’ is somewhat discredited in modern-day parlance.  The banks involved in the old system, which had fallen to two, wanted to withdraw from it, in part because they felt the process, even if it was a totally honest system, which it probably was, could lay them open to having to defend expensive, and probably spurious, lawsuits and the London Bullion Market Association took upon itself to go out and set up some kind of new silver benchmarking process at very short notice. 

 

And is this new process any more transparent than the old one – one of the main charges laid against the old Silver fixing process.  The answer so far is probably not!   ...

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oftwominds-Charles Hugh Smith: Are Capital Inflows Propping Up U.S. Markets?

oftwominds-Charles Hugh Smith: Are Capital Inflows Propping Up U.S. Markets? | Gold and What Moves it. | Scoop.it

It seems likely that significant capital inflows are helping prop up asset valuations in the U.S.

Nobody really believes the official narrative that the "recovery" is powering the remarkable strength of U.S. stocks, bonds and real estate. The real Main Street economy is quite obviously struggling, outside the energy and Federal government sectors, and so many see the Federal Reserve's free money for financiers (a.k.a. quantitative easing) bond and mortgage-buying programs as the real reason bond yields have declined and stocks have soared.

This view has the strong merit of relying on the basics of supply and demand: if the supply of nearly free money expands while the quantity of stocks, bonds and real estate shrink, remain stable or expand at lower rates than nearly free money, the flood of liquidity will push the price of assets higher. ...
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oftwominds-Charles Hugh Smith: Don't Think It Won't Happen Just Because It Hasn't Happened Yet: Loss of Faith in the Fed

oftwominds-Charles Hugh Smith: Don't Think It Won't Happen Just Because It Hasn't Happened Yet: Loss of Faith in the Fed | Gold and What Moves it. | Scoop.it

Much of the supposedly godlike power of central banks is participants' faith in their powers to control not just finance but the real world that can be leveraged by finance.

The Grand Narrative of the global economy since the 2008 financial meltdown has been: whatever the problem, zero interest rates and more credit will fix it. Too much debt? Zero-interest rates and more credit will fix that. Government spending far exceeds tax revenues? Zero-interest rates and more credit will fix that. Economy sluggish? Zero-interest rates and more credit will fix that. Few jobs being created? Zero-interest rates and more credit will fix that.
Had a bad hair day? Zero-interest rates and more credit will fix it.
Implicit in this narrative is the notion that there are no hard limits on credit or central bank money creation. If creating $1 trillion in new credit-money and pushing it into the hands of financiers doesn't do the trick, then push $2 trillion more.
Equally implicit is the assumption that the central banks repressing interest rates and creating trillions of dollars out of thin air can control any blowback or unintended consequences triggered by the free money for financiers tsunami.  ...
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Burn me once … or learn from mistakes

Burn me once … or learn from mistakes | Gold and What Moves it. | Scoop.it

Back in those heady days of plus-forty silver, I used to tell myself that only I wish I had been enlightened just a few months earlier. My actual “date of enlightenment” was about September 15, 2010. Oh! I would have bought lots more silver at $18-24 per ounce in the Fall of 2010. As it was, I had just discovered metals and was picking and choosing, looking for sub-spot pricing, wondering if it really would go higher. Well it did. Then it went back down and I was frustrated—frustrated at those who illegally drove it down, frustrated at myself for not taking the “naysayers” seriously—these were regulars on the blog who warned us that a drop was approaching. I was frustrated at myself for not loading up my trading account and buying AGQ out of the money puts to hedge my stack. Frustration led to disgust, disgust led to a suspension of my buying, the suspension led to a place of hopelessness about learning to invest wisely. I got burned! ...

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Why every single American needs to hold gold

Why every single American needs to hold gold | Gold and What Moves it. | Scoop.it

Stansberry & Associates: Doug, can you explain why the “idea” of gold is important? Why have we humans used gold as money for thousands of years?


Doug Casey: Well, the truth is, there’s nothing magical about gold. It’s just uniquely well-suited among the 92 naturally occurring elements for use as money… in the same way aluminum is good for airplanes or uranium is good for nuclear power.

 

But first we should ask: What is money? It’s simply a medium of exchange and a store of value. So lots of different things can and have been used as money for periods of time. ...

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Thinker, Trader, Holder. Why?

Thinker, Trader, Holder. Why? | Gold and What Moves it. | Scoop.it

Grant Williams writes:

 

As you can see, the BRIC countries have all significantly increased gold as a percentage of their reserves in recent years — with Russia’s being the most consistent of the four — but after almost five years of deafening silence we can only hazard a guess at what the PBoC is doing.

Why only guess? Well, because the Chinese don’t want us to know what they’re doing; and handily for them, the rest of the world is willing to play along ...

Hal's insight:

This is a long interesting read.

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