Gold and What Mov...
Follow
69.8K views | +72 today
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Scooped by Hal
Scoop.it!

The “Flee California Now” Proposition

The “Flee California Now” Proposition | Gold and What Moves it. | Scoop.it

Wendy McElroy:

 

"On November 6th, California declared war on prosperity. Any productive person who can leave California should, and they should do so immediately. It is already so difficult to escape state taxes that even working and living abroad is not an automatic exemption. Now, with a Democratic supermajority in the state legislature, tax hikes and policy can be rubber stamped. Imagine how difficult escape may be in a few years.

 

"Meanwhile, other bankrupt states are watching the precedent set by California. The stretch of avaricious governments across the length of America should convince prudent people to jump across a national border and not just a state one. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold Has Outperformed Stocks By 300% Over The Past Decade

Gold Has Outperformed Stocks By 300% Over The Past Decade | Gold and What Moves it. | Scoop.it

By Axel Merk


Superior Performance of Gold

 

"Over recent years, gold has performed remarkably well relative to other asset classes, in terms of both absolute performance and risk-adjusted performance. Over the preceding 10 years, an investment in gold would have significantly outperformed a corresponding investment in the S&P 500 Index or U.S. bonds, not to mention international and emerging market equities. Over the past 10 years, gold outperformed U.S. equities by over three times ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

5 Factors That Will Drive The Price Of Gold To New Highs In 2013

5 Factors That Will Drive The Price Of Gold To New Highs In 2013 | Gold and What Moves it. | Scoop.it
Peter Krauth:

 

"No two bull markets are ever the same, and gold is no exception.

 

"During the last secular gold bull market in the 1970s, gold rose from $35 in 1968 all the way to $200 by late 1974.

 

"Then the unthinkable happened. Between late 1974 and mid-1976, gold prices were cut in half, dropping from about $200 to $100.

 

"At the time, many gold investors sold out in disgust, never to return.

 

"But then a funny thing occurred. Gold prices started to climb again, rising from $100 in mid-1976 all the way to $800 by January 1980.

 

"And anyone who was fortunate enough to own gold at $35 earned better than 20 times their investment in just 12 years.

 

"Twenty-one years later, a new bull market began. Since 2001, gold has consistently performed in what now appears to be a record-setting run. ..." click through for the five reasons, two of which is fiat and gold demand

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Golden Truth: The Unmistakable Sign Of Illegal Market Manipulation

The Golden Truth: The Unmistakable Sign Of Illegal Market Manipulation | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"I preface this remark by saying that it is just a theory, but could Wednesday's Comex paper raid possibly be a signal of desperation by the cartel? We have been hearing countless reports out of London - the nexus of the world's physical bar market - that delivery supplies of gold and silver are getting tight. Was Wednesday's raid an attempt by a desperate bullion bank to trigger open interest selling by longs in order to reduce the number of potential accounts that hold for delivery in the face of a tight physical bar market?

 

"Wednesday right after the Comex opened, a total of 35,000 gold contracts were sold almost at once, with one order reported to be nearly 8100 contracts. This is roughly 104 tonnes and 24 tonnes respectively. It caused a "cliff-dive" in the price of gold/silver that was not cross-correlated with any other commodity market or equity/fixed income index. Why would someone, using paper, sell so recklessly and abruptly like this, flooding the market with an inordinately heavy supply of paper "gold." Any veteran trader knows that if you are trying to unload a disproportionately large long position - that is, large relative to the price and volume context of a given market - you have to bleed your offers into the market and not give away your size in order to try and maximize your sell proceeds. If you are not operating in this manner, you are either irrational or illegally attempting to influence the price lower. In the absence of any other credible explanation or theory being offered - and an open admission that a "computer mistake" was not the catalyst, this was clearly an attempt to exert manipulative - illegal downward influence on the price of gold. There is no other ..." click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

A vision for a new South African gold miner

A vision for a new South African gold miner | Gold and What Moves it. | Scoop.it

"I think the industry is past looking at how many ounces you produce, it is really now about the margin and the quality of the ounces in terms of profits." – Froneman

 

by Geoff Candy:

 

GRONINGEN (MINEWEB) -

 

"On Monday Gold Fields CEO, Nick Holland, painted a very sombre picture of the South African gold sector and its future. His CFO, Paul Schmidt, went even further saying during a media roundtable that there won't be a gold industry in the country in five years, if the South African gold sector carries on in the same way it has been .

 

"In Johannesburg this morning, Holland described the formation of Sibanye Gold (created by spinning out Gold Fields' KDC and Beatrix operations into a new listed entity) as a response to those warnings. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold Higher by End of Year-Yra Harris | Greg Hunter’s USAWatchdog

Gold Higher by End of Year-Yra Harris | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com

 

"Yra Harris is called a “trader’s trader.” He says the latest deal on Greek debt is just “pretend and extend. . . . The real problem is Spain because they’re big, they’re in debt and they have 27% unemployment.” Everyone in the Western world is dealing with the sovereign debt mess by printing money and suppressing interest rates. Harris predicts, “As long as real yields are negative, of course, gold is going to go up.” Harris is afraid inflation could get out of control and says, “It’s like being a little pregnant, you can’t really control it. Nothing destroys democracy like inflation–end of story.” If Democrats and Republicans can’t reach a deal to avoid the so-called “fiscal cliff,” then Harris contends, “Deflation . . . is bullish for gold because everybody knows what the central bank will do to answer the call . . . the Fed will become that much more aggressive.” No matter what, Harris is betting that “gold will be higher by the end of the year.” Join Greg Hunter as he goes One-on-One with trading legend Yra Harris. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Trader Dan's Market Views: "Whack-A-Mole" Job on Gold takes it Down

Trader Dan's Market Views: "Whack-A-Mole" Job on Gold takes it Down | Gold and What Moves it. | Scoop.it

Dan Norcici writes:

 

"Reading the wire feed commentary from early in today's session was another exercise in the cluelessness and lemming-like parroting that proceeds forth from the US financial media these days.

 

"It was that nasty, infamous "FAT FINGER" once again that was initially blamed for the smashing avalanche of sell orders that crushed the gold price lower early in today's session.

 

"Never mind the fact that the market did not immediately pop right back, which would have indeed been the case were there an actual trading error involved. The other annoying fact is that "fingers", fat or skinny or otherwise, have very little if anything to do with today's trading volume. We are talking about gigantic hedge funds and other large commercial interests, most of whom use some sort of automated computer trading platform which places orders for them. The only thing a "finger" is needed for is to beckon the servant to bring another glass of Chabliss to the hedge fund office crowd.

 

"I am reading today's hit as just another bear raid on the gold market like so many other that we have seen over and over again throughout the last decade+ of the bull market in ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Peek at the most expensive Lego brick in existence

Peek at the most expensive Lego brick in existence | Gold and What Moves it. | Scoop.it
This ultra-rare Lego brick is actually worth more than its weight in gold. Read this article by Christopher MacManus on CNET.

 

by Christopher MacManus

 

"These days, Lego sets seem bigger and more expensive than ever, but the most expensive Lego of them all never actually hit store shelves.


"From around 1979 to 1981, select business partners and Lego employees (supposedly two per year) who worked 25 years at the brick-building factory in Hohenwestedt, Germany, received one heck of an anniversary gift: a 14-carat gold Lego brick that weighs 0.8246 troy ounces. ..."

 

proof that everything looks good in #gold!! ;-)

more...
No comment yet.
Scooped by Hal
Scoop.it!

Richard Russell - Bursting Bubbles Will Make Things Far Worse

Richard Russell - Bursting Bubbles Will Make Things Far Worse | Gold and What Moves it. | Scoop.it

With gold, silver and stocks on the move, the Godfather of newsletter writers, Richard Russell, issued this warning in a note to subscribers: “I continue to believe that we are in a primary bear market, one that is, and has been, disguised by the Federal Reserve's series of QEs. Bernanke's theory is that if the Fed creates enough “money,” then sooner or later deflation and sluggish growth must turn into inflation and faster growth.

 

“The problem with Bernanke's theory is that the economic world is caught in a massive world-wide cycle of deflation -- more goods produced than can be consumed. Normally, the deflationary trend would fully express itself through a primary bear market that would get rid of the weak hands and those who don't deserve to survive. This would result in stocks declining to the point where they would once again represent great values. ..." click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Blackout: Syria vanishes from Internet

Blackout: Syria vanishes from Internet | Gold and What Moves it. | Scoop.it
An outage at 10:26 a.m. UTC, or 5:26 a.m. ET, shut down all Syrian access to the Web. Phone lines also appear to be down, and airlines are canceling flights. Read this article by Shara Tibken on CNET News.
more...
No comment yet.
Scooped by Hal
Scoop.it!

oftwominds-Charles Hugh Smith: The Fiscal Cliff and the Grand Bargain

oftwominds-Charles Hugh Smith: The Fiscal Cliff and the Grand Bargain | Gold and What Moves it. | Scoop.it

Charles Hugh Smith writes:

 

"The Grand Bargain is unraveling, and a new arrangement will take the place of the Status Quo--whether we like it or not.

 

"Correspondent Arnold suggested that I address the fiscal cliff, so here goes.


"The first step is to set aside ideological blinders and confirmation bias, i.e. only looking for data that supports our current beliefs.

 

"The second step is to look at the foundation of everything: household income.Household income is the foundation of taxes paid, consumption (spending) and savings/investment. If household income is declining, that means the pie of money that can be divided up into taxes paid, consumption and investment is shrinking.

 

"If taxes go up, there is less pie left for spending or investment. And since the economy ultimately depends on private-sector spending and investment, then reducing those to fund government spending means there will be less private spending and investment.

 

"If the government spent the taxes on investments that yielded a higher return than private investments, higher taxes would not devastate the economy. But the problem is that there are no feedbacks on government spending that favor efficiency or high yields. ..." click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Eric De Groot: The Managing of Gold

Eric De Groot: The Managing of Gold | Gold and What Moves it. | Scoop.it

Eric De Groot writes:

 

"The window of opportunity to transfer control from the weak to strong hands doesn't last long. This means the invisible hand must work fast under the cover of fear and doubt.

 

"Managing gold's trend is all about timing the paper supply. Well-time paper supply holds critical resistance, usually previous C-wave highs, while the invisible hand redistributes control. This supply revealed by negative spikes ..." click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold Price to Rally on FIscal Cliff

Gold Price to Rally on FIscal Cliff | Gold and What Moves it. | Scoop.it

BY Paul A. Ebeling, Jnr.

 

"Quantitative Easing aims to stimulate the economy by injecting the financial system full of liquidity via asset purchases that push down interest rates to encourage investing and job demand.

 

"Side effects include a weaker USD and fears inflation rates will soar once the economy gains steam, a recipe for rising Gold prices.

 

"With President Obama facing another term in office, expect the Fed to keep its foot on the gas and keep pumping the economy full of liquidity until the labor market shows marked improvement.

 

"A lack of political will to narrow deficits and pay down debts will keep the USD weak, a weaker USD leads to rising Gold prices.

 

"Most Americans are not ready for belt-tightening fiscal reforms. Folks in the USA are concerned with just simply getting by. Just looking at the huge US food-stamp program signals Bullish for precious metals. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Why Silver’s Heading Ho-Ho Higher! | Uncommon Wisdom Daily

Why Silver’s Heading Ho-Ho Higher! | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it

Sean Brodrick writes:

 

"December is already shaping up to be a strong month for silver. But smart investors might be singing “Silver Bells” well into the New Year. That’s because 2013 looks to hold even more promise for the metal.

 

"Today, we’ll look at five reasons why silver is set to shine, and a couple potential ways to play it as it heads ho-ho higher in the coming months.

 

"Silver Bell #1:

"Price Action Is Bullish for Silver ..." click through for the rest of his reasons.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Demand For Silver Tops One Billion Ounces Per Year

Demand For Silver Tops One Billion Ounces Per Year | Gold and What Moves it. | Scoop.it

Here's a great infographic from the Visual Capitalist showing the supply and demand statistics for silver. Interestingly, most of the silver produced each year is consumed in thousands of different industrial applications, leaving a relatively small amount available for investment in coins, bars and jewelry. Unlike gold, the vast majority of silver produced over the years has been consumed, with much of it lost to landfills, leaving a relatively small above ground supply.

 

You'll have to click through for the info graphic which is rather large.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Aiming to boost gold reserves, China sees 'fundamental market shortage' | Gold Anti-Trust Action Committee

Aiming to boost gold reserves, China sees 'fundamental market shortage' | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

from MarketWatch.com

 

"BEIJING -- China aims to have domestic gold production reach 450 metric tons by the end of 2015, a rise of around 25% from 2011, the Ministry of Industry and Information Technology said Monday.

 

"The ministry forecast rising domestic demand for gold and a "huge amount of room" for the industry's development due to gold's safe-haven and wealth-preserving properties, it said.

 

"Still, domestic consumption is likely to exceed 1,000 tons by the end of 2015, "widening the fundamental market shortage," the ministry noted.

 

"China has tried to speed up industry consolidation, aiming to reduce the number of gold producers in the country to 600 companies by the end of 2015 from 700 in the 2006-2010 period, the ministry said. The amount of gold produced by the top 10 gold companies will rise to 260 tons by the end of 2015 from 100 tons in 2010, it said.

 

"By the end of 2015, China is likely to have gold reserves of 8,000-9,000 tons, an increase of 20% from 2010, it said, without specifying if these were state reserves. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Vietnam extends Gold deadline for banks to June next year

State Bank of Vietnam (SBV), country's central bank however said it's prohibition on mobilising capital in gold by commercial banks took effect on November 25.

 

HANOI(BullionStreet): "Vietnam extended the deadline for commercial banks to pay back gold to depositors to end of June next year.

 

"State Bank of Vietnam (SBV), country's central bank however said it's prohibition on mobilising capital in gold by commercial banks took effect on November 25.

 

"SBV hopes that the regulation will prevent gold speculation and persuade people to sell gold to banks rather than hoard it. It is hoped that customers will avoid retaining gold in banks if they have to pay to do so.

 

"Now, rather than enjoying deposit interest rates like before, depositors must pay their bank a yearly amount.

 

"Since the regulations came into force, most banks are applying a fee of 0.01-0.05 per cent of the preserved gold's value per year. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Nepal Gold sales jump on sudden price drop

Gold price had hit the new high of Rs 61,100 per tola in early trade Thursday, bringing some respite to the seasonal buyers.

 

KATHMANDU(BullionStreet): "Gold dropped further in Nepal Thursday, bringing some respite to the seasonal buyers as sales picked up in short time.

 

"People are taking advantage of the dip in prices ( down by Rs 400 per tola) and are seen busy buying for the ongoing wedding season that kicked off 10 days ago.

 

"Gold price had hit the new high of Rs 61,100 per tola in early trade Thursday, bringing some respite to the seasonal buyers.

 

"Nepal Gold and Silver Dealers Association (Negosida) that fixes the price of gold in the local market, said the drop in prices have relieved the buyers psychologically. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Is the Latest World's Tallest Building a Boondoggle? - Casey Research

Is the Latest World's Tallest Building a Boondoggle? - Casey Research | Gold and What Moves it. | Scoop.it

Doug Hornig writes:

 

"... The Chinese are endeavoring to erect the tallest building in the world – leapfrogging Dubai's gaudy 2,719-foot Burj Khalifa by 30 feet – and to do it in 90 days!

 

"That's over 2.4 floors per day, for those keeping score – a pace that's all but incomprehensible. (For comparison purposes, the Empire State Building, with a labor force of 3,000, went up at the rate of 4.5 floors per week.)

 

"It sounds like a hoax. Yet the Broad Sustainable Building Group, a company that has built 20 super-tall structures in China so far, is dead serious. ..."

 

This sounds insane and I would think seriously before ever entering into this building or living within falling distance.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Flash Crash in #GOLD A Real Whodunit « Jim Sinclair's Mineset

"Gold saw a massive 24 tonne sell order (7,800 contracts) at 08:20 a.m. New York time – bang on the opening of the world’s largest gold exchange – which produced a fall of 2.25% in the market price.

 

"If the selling was year-end profit-taking then it was inept. Dealers try and finesse big sell orders into the market to get the best (highest) price for the biggest volume they can and thereby optimize profit – that requires stealth. If on the other hand it was a “fat finger” episode as has been suggested with a broker said to be looking to roll his December gold futures contract then it was even more inept.

 

"More likely this could be a short play, with the seller looking to trigger stops below the market at $1730 and thus extend the move significantly lower and thus increase his profits. If so, he certainly caught the market on the hop as the move is counter-intuitive with everything else that is going on in the economy.

 

"Rising concerns about whether Democrats and Republicans can find common ground between tax increases and entitlement spend reduction remains to be seen. More importantly, the US reaches its law-enshrined debt ceiling of $16.4 trillion early to mid February 2012. That promises fireworks again as it did in August 2011 when gold hit an all time high of $1922 as the market stares into the abyss of a possible US debt default.

 

"Against the current economic backdrop, a short seller would have to be quite brave. In short, we will not know the identity or the reason for the sale for a while. Longer term gold investors should not however be deterred – the rationale for buying gold is as favorable as ever and a degree of patience required.

 

"Ross Norman
"CEO
"Sharps Pixley, London"
www.SharpsPixley.com

 

hat tip to Jim Sinclair's MineSet

more...
No comment yet.
Scooped by Hal
Scoop.it!

RCM to sell 30,000 WW1 Gold coins

RCM to sell 30,000 WW1 Gold coins | Gold and What Moves it. | Scoop.it
They are among the country's first gold coins, struck by the mint between 1912 and 1914.

 

OTTAWA(BullionStreet): "Royal Canadian Mint announced the sale of some 30,000 historic coins mint during the first world war.

 

"In a statement,RCM said it will sell about 30,000 historic $5 and $10 coins dating back to before the First World War.

 

"They are among the country's first gold coins, struck by the mint between 1912 and 1914. The coins are being sold by The highest quality examples of the coins will be offered for sale to convert the proceeds into quality fixed-income securities. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Space Helmets on Captain Video – Market, Economic, Social, Political and Life Commentary by Peter Grandich

Space Helmets on Captain Video – Market, Economic, Social, Political and Life Commentary by Peter Grandich | Gold and What Moves it. | Scoop.it

Peter Grandich writes on this week's gold slam.

 

"Like all previous bear raids on the Crimenex, this one shall remain in the unsolved file (even though GATA has demonstrated to me and a growing number of others who, what and where is behind this once formidable cartel).

 

"The bottomline is no one in their right mind (short mind is another story) sells that amount of contracts at that time of the day in the manner in which they did unless they have a motive more than to simply liquidate a position. ..."

 

 

more...
No comment yet.
Scooped by Hal
Scoop.it!

European debt crisis a bigger global threat than US fiscal cliff, says OECD

European debt crisis a bigger global threat than US fiscal cliff, says OECD | Gold and What Moves it. | Scoop.it
Report says 'intensified euro area crisis' could destroy growth in Europe and also wipe out US recovery, causing recession...

 

by Dominic Rushe:

 

"Europe's debt crisis remains a far bigger threat to the world's economy than the "fiscal cliff", according to the Organisation for Economic Co-operation and Development (OECD).

 

"In its latest twice yearly report the OECD warned the world's major economies could all got back into recession if euro-zone and US policy makers fail to tackle their fiscal crises. The organisation believed an escalation in the ongoing European crisis poses the biggest threat to global economies and could drag Europe into a deep recession in the next two years and the US along with it.

 

"The economic think tank warned the world economy is at risk of a fresh contraction and slashed the forecast growth rate for its 34 member nations to 1.4% in 2013, downward from a forecast of 2.2% made just six months ago.

 

"After five years of crisis, the global economy is weakening again," said Pier Carlo Padoan, the OECD's chief economist. "The risk of a new major contraction can't be ruled out."

 

"The report comes as politicians in Washington are increasingly focussed on the fiscal cliff – the year end expiration of wide-ranging tax cuts and the imposition of draconian spending cuts. The crisis has rattled investors and business leaders around the world.

 

"A series of reports from the Congressional Budget Office and the White House have emphasised the threat the fiscal cliff poses as Europe's woes seem to have dropped off Washington's agenda.

Padoan said the US's budget spat posed ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Giant Currency Superstorm That Is Coming To The Shores Of America When The Dollar Dies

The Giant Currency Superstorm That Is Coming To The Shores Of America When The Dollar Dies | Gold and What Moves it. | Scoop.it
By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S.

 

"Most Americans don't realize that there are far more dollars in use in the rest of the world than in the United States itself. The following is from a scholarly article by Linda Goldberg...

 

"The dollar is a major form of cash currency around the world. The majority of dollar banknotes are estimated to be held outside the US. More than 70% of hundred-dollar notes and nearly 60% of twenty- and fifty-dollar notes are held abroad, while two-thirds of all US banknotes have been in circulation outside the country since 1990

 

"For decades we have been exporting gigantic quantities of our currency.

 

"So what would happen if that process suddenly reversed and massive piles of dollars started coming back into the country? ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

LearCapital: Year-End Spot #Gold Giveaway!

LearCapital: Year-End Spot #Gold Giveaway! | Gold and What Moves it. | Scoop.it
The Lear Capital Year-End Spot Gold Giveaway will award one ounce of gold (in the form of bullion or coins) to the statistically closest guess to the closing Spot Gold price* at the end of the US trading day on December 31, 2012.
more...
No comment yet.