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Burma Gold dealers start brisk selling as Kyat gains

An ounce of gold is priced at 1,425,646.96 kyat in early trade Wednesday while kyat exchange rate for the day is at 857 to the dollar, down from nearly 900 a couple of months ago.
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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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LearCapital | Download Lear Gold & Silver Daily Today!

LearCapital | Download Lear Gold & Silver Daily Today! | Gold and What Moves it. | Scoop.it

Download the Free Lear Gold & Silver Daily Today!

 

Stay on top of the latest breaking commodities market news, coin prices, real time charts and special promotions from Lear Capital's “Lear Gold and Silver Daily” app for both iOS  and Android devices .

 

The Lear Gold and Silver Daily app is a special new benefit brought to you by Lear Capital at no additional cost.

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My Blog

My Blog | Gold and What Moves it. | Scoop.it
By Michael Pento of Pento Portfolio Strategies
September 27 (King World News) - Global Markets Set To Collapse

Wall Street came to a halt recently as Chinese e-commerce giant Alibaba made its initial public offering. The media became myopically focused over this so-called “historic event” and by its celebrity founder, Jack Ma. By the time the closing bell had rung, the hype and fanfare propelled Alibaba up 36 percent on its first day of trading and caused the world’s largest IPO to display a market cap worth $231 billion. The investing public seems to have forgotten the dangers associated with disregarding valuation metrics -- Alibaba is trading at a price-to-book value ratio north of 27!....
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Gregory Mannarino-We Are Going to Global War - YouTube

What happens when the global money printing stops working? Gregory Mannarino of TradersChoice.net says, “War, we are going to global war. This is the next st...
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Macy's CEO Offers An Ominous Insight About American Consumers

Macy's CEO Offers An Ominous Insight About American Consumers | Gold and What Moves it. | Scoop.it
Macy's CEO Terry Lundgren said he was expecting a rebound this year. 

It didn't happen. 

"The consumer has not bounced back with the confidence that we were all looking for," Lundgren said at the Goldman Sachs Annual Retail Conference earlier this month, weeks after the company reported sluggish second-quarter sales. 

Lundgren also said he doesn't expect things to get better in time for the holiday season. 

"The performance I think we had in the second quarter, and we expect to have in the second half, is going to be a continuation of what we’ve been able to do over the last several years — and that is to capture market share and get the most out of the consumers that are in our stores," he said. 
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Geneva Report warns record debt and slow growth point to crisis - FT.com

Geneva Report warns record debt and slow growth point to crisis - FT.com | Gold and What Moves it. | Scoop.it
A “poisonous combination” of record debt and slowing growth suggest the global economy could be heading for another crisis, a hard-hitting report will warn on Monday. The 16th annual Geneva Report, commissioned by the International Centre for
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$1200 for Gold Underpinned by Physical Demand | Alasdair Macleod | Safehaven.com

$1200 for Gold Underpinned by Physical Demand | Alasdair Macleod | Safehaven.com | Gold and What Moves it. | Scoop.it
This week saw gold rally $15 to $1233 on Tuesday before sliding to $1207 yesterday morning, then rallying in the afternoon. Silver's moves tracked gold's, bottoming out at $17.30 yesterday at the London opening. This morning precious metals ...
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Zimbabwe cuts miners royalty to boost gold output - Shanghai Metals Market

Zimbabwe cuts miners royalty to boost gold output - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
The Zimbabwean government has decided to lower the royalty on gold from 7% to 5% in an attempt to boost gold production from the country. Zimbabwe cuts miners' royalty to boost gold output
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Global Market Collapse & Wealth Destruction Is Now Upon Us

Egon von Greyerz tells King World News:

 

“It’s important to look at the consumption of commodities in China.  Right now they are declining rapidly.  Then we have the shadow banking system in China which is in a massive bubble.  In Europe, only one major economy, which is Germany, has kept the eurozone alive.  But German growth has now come to a halt.

And as we’ve discussed many times, Spain, Italy, Greece, and Portugal will not survive in their present construct.  And in spite of that these countries can borrow money at ridiculously low rates, as if there was no risk at all.  The markets don’t even understand what risk means today.

In the U.K. we have seen a slight improvement but it’s all debt and deficit based so it’s not sustainable. ...

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Survey: Three Out Of Four Americans Feel Like Recession Continues

Americans have a bleak view of the economy and their own financial situations, according to a new study from the Public Religion Research Institute.
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Does that really surprise anyone? Well, yes it does, Those 1 out 4 Americans anyhow.

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Silver Tumbles To 4 Year Lows As Massive Sell Order Hits At Market Open | Zero Hedge

Silver Tumbles To 4 Year Lows As Massive Sell Order Hits At Market Open | Zero Hedge | Gold and What Moves it. | Scoop.it
Because nothing says efficient market and fiduciary duty like waiting for the US equity market to open to send a huge sell order through the silver futures market... Running the entire stack (and this all resting stops), however, silver has immediately bounced back... Gold was relatively unaffected. Copper had also got plugged early on and is now ripping higher.
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Gold falls on economic optimism; dollar hits 4 year highs - Shanghai Metals Market

Gold falls on economic optimism; dollar hits 4 year highs - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
Gold fell on Wednesday as the dollar climbed to levels not seen in four years and global shares rebounded, while investors remained cautious ahead of U.S. economic data due later in the week.
Gold falls on economic optimism; dollar hits 4-year highs
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oftwominds-Charles Hugh Smith: Global Bellwether: Japan's Social Depression

oftwominds-Charles Hugh Smith: Global Bellwether: Japan's Social Depression | Gold and What Moves it. | Scoop.it
Beneath the surface wealth of bullet trains, cute robots and exuberant fashions, this is the Japan few outsiders understand: the one gripped by a deepening social depression.

This week I've highlighted the structural flaws of using GDP as a measure of "growth" and prosperity: GDP = Waste and What Metric Are We Optimizing For?

The conventional metrics of "growth" and prosperity have another fatal flaw: they do not recognize, much less measure, social depression, the social costs of economic stagnation and wealth inequality driven by financialization.

The term social recession has two distinct meanings: around 2000, the term was used to describe the erosion of social cohesion via the decline of institutions such as marriage and the rise of social problems such as teen pregnancy.
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Jesse's Café Américain: Ned Naylor-Leyland Suggests Media Overhanging an Expose of Rigging in the Silver Markets

Jesse's Café Américain: Ned Naylor-Leyland Suggests Media Overhanging an Expose of Rigging in the Silver Markets | Gold and What Moves it. | Scoop.it
This is an excerpt of a statement apparently made by Ned Naylor-Leyland about an article involving alleged evidence presented on silver rigging that has failed to see publication anywhere for a year.  It has now appeared in several public places overnight.  Choosing to ignore this would be a decision as much as choosing to ask about it in as polite and as even handed manner one can manage.  I became loosely aware of this yesterday, but decided to take no action here until something appeared 'in print' in more than one place. William D. Cohan is a highly respected financial journalist who has recently published a book in  April of this year titled The Price of Silence: the Duke Lacrosse Scandal, the Power of the Elite, and the Corruption of our Great Universities”.   He is certainly no stranger to controversy and to telling the truth against opposition.  He is one of my favorite commentators in business journalism. ...
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.@Grandich on #Gold

.@Grandich on #Gold | Gold and What Moves it. | Scoop.it

Just about everybody and their mother dislikes gold now. While very oversold and due for a technical rebound, you can see how determine the bears are to sell into any pop and get a break below $1,180. I think it’s best to stand aside and if there is a dramatic washout to the downside, step in when the overwhelming number of bearish articles run the inevitable headline, “last one out, turn the lights off in the gold market.”

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John Embry - Silver Is The Cheapest Asset In The World Today

John Embry - Silver Is The Cheapest Asset In The World Today | Gold and What Moves it. | Scoop.it

John Embry tells King World News:

 

“The action in silver is becoming more and more bizarre with each passing day.  Silver is the cheapest asset in the world today.  Silver was hit hard once again shortly after the opening of trading in the access market.  Silver fell about 25 cents, or 1.5 percent, in the quiet trading period.

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Chinese Gold Demand Explosive

Chinese Gold Demand Explosive | Gold and What Moves it. | Scoop.it

Wholesale demand, measured by withdrawals from the SGE vaults, accounted for an astonishing 50.3 tonnes in week 38 (September 15 -19), up 22.79 % w/w. Year to date SGE withdrawals stand at 1381 tonnes.

 

Because the SGE International Board started trading on September 18, I checked with the SGE if the total withdrawal ...

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Bearish sentiments continue to cloud Gold, support $1203

Bearish sentiments continue to cloud Gold, support $1203 | Gold and What Moves it. | Scoop.it
Over the longer term, expectations for rising rates and a stronger dollar will continue to pressure gold, keeping the price-negative macro backdrop too large a burden for any seasonal uptick in physical consumption to overturn, according to Barclays.
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Is It Time to Stash Your Cash in Your Mattress? | Uncommon Wisdom Daily

Is It Time to Stash Your Cash in Your Mattress? | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
Gold remains the only hedge that makes sense whether we enter a period of inflation, catastrophic deflation and/or political turmoil.
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Peak Debt----Why The Keynsian Money Printers Are Done

Peak Debt----Why The Keynsian Money Printers Are Done | Gold and What Moves it. | Scoop.it
Bloomberg has a story today on the faltering of Draghi’s latest scheme to levitate Europe’s somnolent socialist economies by means of a new round of monetary juice called TLTRO—–$1.3 trillion in essentially zero cost four-year funding to European banks on the condition that they expand their business loan books. Using anecdotes from Spain, the piece perhaps inadvertently highlights all that is wrong with the entire central bank money printing regime that is now extirpating honest finance nearly everywhere in the world.

On the one hand, the initial round of TLTRO takedowns came in at only $100 billion compared to the $200 billion widely expected. It seems that Spanish banks, like their counterparts elsewhere in Europe, are finding virtually no demand among small and medium businesses for new loans.
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oftwominds-Charles Hugh Smith: What the Global Status Quo Optimizes: Protecting Elites and the Clerisy Class That Serves Them

oftwominds-Charles Hugh Smith: What the Global Status Quo Optimizes: Protecting Elites and the Clerisy Class That Serves Them | Gold and What Moves it. | Scoop.it
The incestuous embrace of privilege and power by entrenched, socially isolated Elites characterizes failed states and brittle, doomed regimes throughout history.

Every system is optimized to serve a specific purpose. As noted in my recent essay What Metric Are We Optimizing For?, what the system optimizes is rarely explicitly stated.

Sometimes this results from not understanding the metric that the system is designed to optimize; but in other cases, explicitly describing what the system optimizes would trigger social instability.

The Status Quo around the world--from France to China to the U.S.--is optimized to protect its Elites and the sprawling Upper-Caste of academics, managers, think-tank toadies, technocrats, apparatchiks, functionaries, factotums, lackeys and apologists who serve the Elites, and are well-paid for enforcing the Status Quo on the disenfranchized castes below.
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Gold markets waiting for the Asian festive demand

Gold markets waiting for the Asian festive demand | Gold and What Moves it. | Scoop.it
In China, the Lunar New Year is Feb. 15, so manufacturers are likely to start restocking in December and January ahead of the holiday, he said.

 

By Debbie Karlson (Kitco News): Gold jewelry demand from China and India is expected to pick up as festival seasons arrive later this year and into early 2015, but buyers might be waiting for gold prices to stop skidding.


General Asian gold demand has been weak, with imports into India and China down year-to-date. Part of that has to do with import restrictions in India, and part of it has to do with the idea, at least in China, that buyers are already well-supplied after last year’s “gold rush” when prices fell about $200 an ounce in the second quarter, industry experts said. ...

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American Eagle gold coin sales set to jump in Sept - American Hard Assets

American Eagle gold coin sales set to jump in Sept  - American Hard Assets | Gold and What Moves it. | Scoop.it
The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, almost double its total in August
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5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives

5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives | Gold and What Moves it. | Scoop.it
When is the U.S. banking system going to crash?  I can sum it up in three words.  Watch the derivatives.  It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives.  Today, the U.S. national debt is sitting at a grand total of about 17.7 trillion dollars, so when we are talking about 40 trillion dollars we are talking about an amount of money that is almost unimaginable.  And unlike stocks and bonds, these derivatives do not represent "investments" in anything.  They can be incredibly complex, but essentially they are just paper wagers about what will happen in the future.  The truth is that derivatives trading is not too different from betting on baseball or football games.  Trading in derivatives is basically just a form of legalized gambling, and the "too big to fail" banks have transformed Wall Street into the largest casino in the history of the planet.  When this derivatives bubble bursts (and as surely as I am writing this it will), the pain that it will cause the global economy will be greater than words can describe.
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One individual looking to buy $40Million in Gold

One individual looking to buy $40Million in Gold | Gold and What Moves it. | Scoop.it

Bill Haynes tells King World News:

 

This one individual has approached us and is shopping the market for $40 million of gold.  And, Eric, this is just one person.  Think about that for a minute.  These are the types of things you see at major market bottoms.  You get some really smart money stepping in and buying.  So I think we will be looking at higher prices into the end of this year and going into next year.

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Newssummary: Russia Increases Gold Reserves for Fifth Month in August - Shanghai Metals Market

Newssummary: Russia Increases Gold Reserves for Fifth Month in August - Shanghai Metals Market | Gold and What Moves it. | Scoop.it
Russia added its gold reserves to 35.769 million ounces in August, the fifth-consecutive monthly rise.
Newssummary: Russia Increases Gold Reserves for Fifth Month in August
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Jim’s Mailbox: It’s all about the Dollar. @JSMineset

Jim,

Many of your readers believe the price of gold is going down because of heavy selling pressure. I believe that is NOT the case at all. It’s all about the Dollar.

Even if no gold changed hands it would still be revalued if the dollar strengthens or weakens. Without any trading in gold, if the dollar strengthens, the price of gold will drop because it will take fewer dollars to buy the stuff.

Quite simple really.

No need to panic. When the dollar does turn for the worse, you could see gold soar by $100 an ounce in a single day, whether people are buying it or even selling it.
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