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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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Huge Moves Coming In Gold, Silver, US Dollar & The Euro

Huge Moves Coming In Gold, Silver, US Dollar & The Euro | Gold and What Moves it. | Scoop.it

Marc Chandler tells King World News:

 

"The euro is struggling around the 1.28 level, and I’m looking for the euro to head to the 1.22 - 1.23 area by the end of the year. The US is going to resolve the fiscal cliff, which means the focus will shift right back to the euro when Spain asks for aid.

 

"I would also add that the issue which had died down in Europe, but is now resurfacing, is a Greek exit. Imagine if Greece would drop out what would happen. If there is in fact a regime change in Syria, that would greatly hamper the Russian influence in the Middle-East.

 

"So if Greece leaves the euro or is kicked out, they would have to turn to Russsia for assistance. Greece is unimportant economically, but geo-strategically it is key because it is a valve in and out of Europe. So when we think of the ongoing European crisis, keep in mind Greece’s geo-strategic importance. ..."

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Gold smuggling rampant across Nepal

Nepalis like Indians are, celebrating Laxmi Puja and Dhanterash next week, the two major occassions, looking for buying gold as a good omen...

 

KATHMANDU(BullionStreet): "Acute shortage of gold leave Nepalese customers disappointed across the country ahead of major festival season.

 

"The shortage had triggered smuggling of the yellow metal from India, China and Bhutan, as government import quota cannot meet the demand in the market, analysts said.

 

"Nepalis like Indians are, celebrating Laxmi Puja and Dhanterash next week, the two major occassions for buying gold as a good omen.

 

"Normally during these times, most households in Nepal purchase gold and silver items — jewellery, ornaments, utensils or coins for good luck and prosperity.

 

"However, this year gold shortage has deepened in the last couple of weeks due to an increased demand raising doubts regarding its easy availability. ..."

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Nigel Farage Informs Merkel It is Time for the UK to Leave the European Union | SilverDoctors.com

Nigel Farage Informs Merkel It is Time for the UK to Leave the European Union | SilverDoctors.com | Gold and What Moves it. | Scoop.it
Our favorite European politician has delivered another epic speach to the European Parliament, this time delivered to none other than German Chancellor Ang...

Via Graham Jervis
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Perched on the Knife's Edge with Jay Taylor : Gold Report interview.

Perched on the Knife's Edge with Jay Taylor : Gold Report interview. | Gold and What Moves it. | Scoop.it
Rampant debt, credit deflation and impotent monetary policies are fueling a bull market for gold and gold equities according to Jay Taylor, editor and publisher of J. Taylor's Gold, Energy & Tech Stocks.

 

click over for the full piece.

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Eric De Groot: Growing Number of Millionaires Doesn't Mean They're Prospering

Eric De Groot writes:

 

"The number of millionaires has rising from 4 to 5.1 million between 2008 and 2011. This suggests to some Americans that the rich must be prospering. I caution against reaching this conclusion. Unless those millionaires are properly hedged against currency devaluation, it's quite likely their standard of livings are dropping as well.

 

"One metric of currency devaluation is the rising price of gold. ..."

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China set to surpass India again as top Gold consumer

China's gold production is expected to reach 380 tons this year, and we will continue to be the world number one gold producer.

 

BUSINESS(BullionStreet):

 

"China is all set to surpass India as world's largest gold consumer in one year, according to country’s largest gold producer, China National Gold Group Corp.

 

"India recaptured the crown as the world's top consumer in the second quarter, after losing out to China for two consecutive quarters.

 

"China’s production is expected to reach 380 tons this year, and we will continue to be the world number one gold producer.

In the first three quarters of this year, China produced 284 tons of the yellow metal, a nine percent increase year-on-year.

 

"China’s large increase in gold consumption will have a positive impact to the global gold market, the company said.

 

"China Gold added that global gold prices will continue the upward trend, with last year’s average price sitting at around $1500 an ounce, and this year it has risen to around $1700. ..."

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oftwominds-Charles Hugh Smith: The Case for a Constitutional Convention in 2016

oftwominds-Charles Hugh Smith: The Case for a Constitutional Convention in 2016 | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"That which is unsustainable will go away, and the Status Quo is unsustainable on multiple levels.

 

"Now that the billion-dollar theatrics between various vested interests have finally concluded, it's time to ask if there is an end-game to Imperial over-reach and corporatocracy.

 

"The Status Quo won--no surprise there, as there was no other choice offered.

 

"The Imperial Presidency won, too, of course; anyone anywhere can still be assassinated by order of the Imperial President, regardless of their citizenship. Anyone can be labeled "an enemy of the State" and either liquidated (high fives all around!) or crushed by the Espionage Act (transparency is a crime), Patriot Act (dissent is also criminal), the NDAA, or maybe another Executive Order.

 

"The neofeudal Aristocracy also won, as vested interests were free to buy "free speech" in unlimited quantities. ..."

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Nepal faces Gold shortage of 25 kg a day

Nepal faces Gold shortage of 25 kg a day | Gold and What Moves it. | Scoop.it
According to the Nepal Gold and Silver Dealers Association (NEGOSIDA), the present supply of the gold in the country is around 15 kg per day.

 

KATHMANDU(Bullion Street):

 

"Gold prices in the Himalayan nation Nepal hit Rs 59,000 per tola mark as festive season demand picked up.

 

"Prices went upby Rs 600 per tola on worries over short supply and also on increase of price of the yellow metal in the international market.

 

"Hallmark gold in Nepal was traded at Rs 58,400 per tola while price of worked gold has increased by equal Rs 600 per tola and was traded at Rs 58,750 per tola.

 

"Price of the worked gold was Rs 58,150 per tola. Likewise, price of silver also increased by Rs 20 per tola and reached Rs 1,130 per tola. ..."
 

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Russia confirms finding missing Gold ship

Russia'stransport ministry said scuba divers have found the sunken cargo ship loaded with 700 tonnes of gold ore owned by Polymetal International.

 

MOSCOW(BullionStreet):

 

"Ten days after the ship wreck, Russian authorities finally confirmed the finding of Amurskaya freighter near the Shantarsky Islands in the southwestern Sea of Okhotsk.

 

"Russia'stransport ministry said scuba divers have found the sunken cargo ship loaded with 700 tonnes of gold ore owned by Polymetal International.

 

"However none of the sailors’ bodies have been discovered, but a search inside the ship has not taken place, the ministry added.

 

"A decision on whether it is safe to search inside the ship will be taken later by rescue authorities in Moscow. ..."

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Recalling 2004

Recalling 2004 | Gold and What Moves it. | Scoop.it
I guess now the R-republocrats understand how the D-republocrats felt eight years ago.

 

Had to laugh and nod at this:


"... The moral of the story is this: In the U.S.A., it is very difficult for a challenger to unseat a sitting president. The American citizenry is equal parts cautious, apathetic and downright stupid. And, in the end, they often vote as if "the devil you do know is better than the devil you don't". The incumbent won again. It's as simple as that. ..."

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Damage Figure for Sandy is Going Way, Way Up-Rick Ackerman

http://usawatchdog.com/sandy-damage-150-to-250-billion-rick-ackerman/ You can forget the current mainstream media estimates of $50 billion in storm damage. F...

 

Financial analyst and forecaster Rick Ackerman says Hurricane Sandy came at a time when “. . . the U.S. economy is in a mission critical status. . . . All of the positive effects of this spending are 8 to 20 months down the road.” Ackerman says this disaster is going to be different than in the past because “we’re living off the fatted calf, but the fact is now we’re broke. Where is all this money going to come from?” You can forget the current mainstream media estimates of $50 billion in storm damage. Ackerman says the real cost of Sandy “. . . is going way, way up into the $150 to $250 billion category.” Ackerman predicts the storm will have a national impact. He says, “There’s no question that what’s happened is going to cut into retail goods, especially high end gifts.” Join Greg Hunter as he goes One-on-One with Rick Ackerman of RickAckerman.com.

 

hat tip to www.jsmineset.com 

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Ed Steer on where silver and gold could be heading - Ed Steer's Gold & Silver Daily

Ed Steer on where silver and gold could be heading - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

Ed Steer on where silver and gold could be heading:

 

"... I'm not exactly sure where we're going from here price wise...at least during the next thirty days. As I've said before, I could make perfectly valid arguments for a big move in either direction, but I just simply don't know which it's going to be in the very short term...and neither does anyone else. Complicating matters is the big December delivery month coming up in both silver and gold...and I'll be watching the roll-over process [and the price action associated with it] with great interest.

 

"Of course the 800-pound gorillas in silver [and probably gold as well] are JPMorgan and the Bank of Nova Scotia. I'd say that between the two of them, they were probably short between 40 and 45 percent of the entire futures market in silver as of the last COT Report...and that will probably be a lower number after Friday's and yesterday's price action...if Tuesday's price action was, in fact, short covering. We'll have to wait until Friday to find out. ..."

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Hathaway: Gold Setup To Super-Surge To New All-Time Highs

Hathaway: Gold Setup To Super-Surge To New All-Time Highs | Gold and What Moves it. | Scoop.it

Today John Hathaway spoke with King World News about his belief that gold is now setup to surge to new all-time highs. The four decade veteran and prolific manager of the Tocqueville Gold Fund also believes gold will do so in very dramatic fashion. Here is what Hathaway had to say: “We had a nice run-up from late August into early October. I certainly feel we have broken the downtrend that started August of 2011, and I believe what is going on now is just backing and filling to cement the platform for the next leg in the bull market.

 

“But I do think when the (gold) market is ready, and I think it’s setting up to be ready, it’s not just going to creep higher. It’s going to go through these resistance levels the technicians talk about with a great deal of power...."

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$2,000 Gold likely next year : AngloGold Ashanti

According to Mark Cutifani, Anglo's chief executive gold would average between $1,700 – $1,800 for the remainder of 2012 and rise by an additional $150-200 per ounce in 2013.

 

JOHANNESBURG(BullionStreet): "AngloGold Ashanti predicted gold to hit $2000 an ounce next year.

 

"According to Mark Cutifani, Anglo’s chief executive gold would average between $1,700 – $1,800 for the remainder of 2012 and rise by an additional $150-200 per ounce in 2013.

 

"The gold price has been strong since the US unleashed its latest round of quantitative easing in September and the re-election of President Obama would also be good for people in gold, he said.

 

"He also revealed a 50% dividend cut and plans to cut spending by $ 200 mln as AngloGold struggles to cope with the wave of industrial unrest affecting South Africa. ..."

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South Africa, Russia report drops in Gold reserves

Russia's gold and foreign exchange reserves fell to $526.4 billion in the week to Nov.2 from $526.5billion a week earlier.

 

LONDON(BullionStreet): "South Africa and Russia, two of the world's leading gold producers, reported drops in gold reserves.

 

"Statistics South Africa said country's gold output fell 11.1 percent in volume terms in September while total mineral production dropped 8.3 percent compared with the same month last year. ..."

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Biderman's Daily Edge: Obama Will Be Worst Fiscal President ever, Unless He Changes - TrimTabs Money Blog

Biderman's Daily Edge: Obama Will Be Worst Fiscal President ever, Unless He Changes - TrimTabs Money Blog | Gold and What Moves it. | Scoop.it

"Unless Barack Obama dramatically changes, I predict by the end of his second four year term he will have earned the legacy of being the worst fiscal president ever. Why? The US will be bankrupt after another four years of the same Obama we had for the past four.

 

"Here’s my evidence, before Obama was elected in 2008 after tax take home for everyone who pays taxes was just under $7 trillion annualized. That $7 trillion number included capital gains, an income source the US Bureau of Economic Analysis does not include in national income. Why is capital gains not included? Is there a prejudice against income on capital? Who knows. It’s the government. ..."

 

click over for the video.

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EconoMonitor : RGE Analysts » Worst of the Eurozone Crisis Is Not Over Yet

by Megan Greene:

 

"All is relatively quiet in the eurozone these days – or at least that is what you might think, speaking to portfolio managers over the past few months. German chancellor Angela Merkel has visited Greece, Ireland has re-entered the bond markets and the ECB’s balance sheet is in play for Spain and Italy, so what is there to worry about?

 

"Plenty. While the most disastrous possible risk – a complete, disorderly disintegration of the eurozone – has been greatly reduced by the ECB’s new bond-buying programme, Outright Monetary Transactions (OMT), the worst of the eurozone crisis is by no means behind us.

 

"Greek exit delayed

 

"While, just a few months ago, businesses and analysts were preparing for an imminent exit of Greece from the eurozone, there has been a widespread lowering of probabilities for that scenario. The main reason for this seems to be that the German administration has entered its campaign period in the run-up to general elections in September 2013. Merkel would rather not accept responsibility for whatever is unleashed when Greece leaves the eurozone, in case it derails her re-election. ..."

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DGCX volume crosses one million mark in October

DGCX Gold futures, a key contributor to this growth recorded a year-on-year increase of 490%.

 

DUBAI(BullionStreet):

 

"Middle East's largest commodity exchange, the Dubai Gold and Commodities Exchange (DGCX) reached another new milestone in October by crossing the one million mark for the first time in history.

 

"In a statement, DGCX said in October monthly volume hit 1,057,508 contracts, up 9 percent and monthly volume valued at $ 43.07 billion, surpassing the previous highest trading value $ 38.08 billion achieved in September 2012.

 

"October 2012 volumes recorded a significant increase of 139 % over October 2011. Gold futures, a key contributor to this growth recorded a year-on-year increase of 490%.

 

"DGCX currency segment which generated its highest ever volume in October trading 992,126 contracts - registering a year-on-year growth of 131%. ..."

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Ron Paul's Election 2012 Lesson: Obeying the Constitution, No Sure Path to Freedom | Justin O'Connell | Safehaven.com

Ron Paul's Election 2012 Lesson: Obeying the Constitution, No Sure Path to Freedom | Justin O'Connell | Safehaven.com | Gold and What Moves it. | Scoop.it
What is one to deduce from the 2012 Presidential elections? In my opinion, it is that obeying the Constitution is no sure path to freedom, and that voting is a real waste of time. The campaign of Ron Paul was by far one of the most popular ...
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Hope, Change and Gold | Adrian Ash | Safehaven.com

Hope, Change and Gold | Adrian Ash | Safehaven.com | Gold and What Moves it. | Scoop.it

by Adrian Ash:

 

"Ten years after the American century ended, should an optimist choose to buy gold...?

 

"Gold doesn't mind a bit of hope or change. It doesn't care about anything much, what with being just an inert metal and all.

 

"But those people who buy gold tend to fear for the future, and they fear the change it might bring. At the very least they are anxious. Gold offers insurance, whether to Western savers trying to second-guess interest rates or the stock market, or to Asian households suddenly able to make discretionary savings each month from their small, but growing income.

 

"So what kind of future might see the gold price jump 1.7% p - as it did in 1 hour on Tuesday - only to hold that rally as Barack Obama claimed a second term in the White House, before easing off as the rest of the financial markets sank two, three and more per cent on Wednesday?


"The peaceful war-making president now has another 4 years pulling the levers and twisting the dials which control the direction of the USA. Or at least, that's the idea. But this stuff is a long way from flying killer drones by remote. And while Obama quickly bagged an outright victory last night in the number of electoral colleges - America's version of first past the post - he still needs to win a clear majority in the "popular vote" too. Because otherwise (or so analysts and pundits reckon), the Republican-controlled House will feel empowered to block his budgets and bills. It might feel obliged anyway.


"Twiddle all the knobs you like. They don't work anymore. ..."

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Trader Dan's Market Views: America Votes for National Suicide

Trader Dan's Market Views: America Votes for National Suicide | Gold and What Moves it. | Scoop.it

Intereting read from Dan Norcini. Here's a snippet:

 

".. This brings me to my last point and to my most controversial one. In observing those election results I have become convinced that this nation, as we once knew it, is a house divided, to the extent that it cannot survive in its present form. There is absolutely nothing "UNITED" about these United States of America.

 

"Among my close friends, I have been speaking to this topic for more than a decade now, having become convinced as far back as the 2000 election, that the nation was headed down the road to dissolution. Let me explain...

 

"As a commodity futures trader, my task is to study TRENDS, particularly longer term trends and by so doing to hopefully profit thereby. There are trends in markets but there are also trends in a society. The trend in this society is an increasing divide between two diametrically opposed political ideologies. ..."

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Obama’s Reelection and the Future

Moses Kim writes:

 

"... This deep into the debt crisis, I’m very shocked that people are not giving it more coverage. By 2016, we can legitimately have half of our government revenue consumed by interest payments alone. We are already in the viscous cycle where deficits lead to higher taxes, which lead to the rich fleeing, which leads to less revenue, which leads to higher taxes, and again, more rich people fleeing. No matter what you believe on a personal level about progressive vs flat tax rates, the fact remains that human nature doesn’t change. And with higher taxes, people look abroad for safety. The number of Americans renouncing their citizenship is going up exponentially, and my best guess is that this trend will continue rising.

 

"2013 is going to be one of those crazy years that lays the foundation for this coming economic collapse. I expect a lot of volatility in stocks. For now, we are probably talking about a sell-off as the higher capital gains rate comes into focus. Then there is going to be a monster rally because the spread between dividends and bonds is going to become even more skewed. It is going to be a bumpy ride.

 

"Physical gold in your ownership is the best course of action. ..."

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Gold, shares gain, dollar slips after Obama victory

Gold, shares gain, dollar slips after Obama victory | Gold and What Moves it. | Scoop.it
The dollar, which has rallied during this week's tense run-up to the election, slipped 0.2% against a basket of currencies, retreating further from Monday's two-month high. The euro rallied to a session high of $1.2876.

 

LONDON (BullionStreet): "World shares and gold rallied while the dollar fell on Wednesday after President Barack Obama was re-elected for a second term, signalling no dramatic shift in US economic policy, Reuters reported.

 

"Gains in Europe’s main stock markets were expected to be limited, however, as attention switches to Greece, where parliament votes late in the day on an austerity package needed to secure a fresh injection of aid from the European Union (EU) and International Monetary Fund (IMF), and avert bankruptcy.

 

"The fact the election is over is obviously positive for the market. Markets don’t like uncertainty and there was always the worry that it was going to drag on," Capital ETX’s head of index & equity market making, Mark Priest, said.

 

"A lot depends on this vote today in Greece, so I think it is a little bit of wait-and-see. ..."

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Obama win means loose monetary policy will stay; gold to benefit

Obama win means loose monetary policy will stay; gold to benefit | Gold and What Moves it. | Scoop.it

Gold analysts are confident the gold price will climb towards the end of the year, underpinned by a continuing relaxed U.S. monetary policy and possible further quantitative easing.

 

by Ben Taylor:

 

"SPOT PRICES for buying gold fell back to $1720 an ounce Wednesday morning in London, after hitting two-week highs following news of the re-election of Barack Obama as US president.

 

"Gold is making significant gains on the back of a weak US Dollar," said this morning's commodities note from Commerzbank.

 

"Prices for buying silver fell back below $32 an ounce after they touched their highest level in a week.

 

"Obama's re-election is likely to boost expectations of continued easing by the Fed," says Junya Tanase, chief currency strategist at JPMorgan Chase in Tokyo.

 

"We forecast gold will end the year at $1780 an ounce and peak late in 2013 at around $1890 an ounce," adds a report from ANZ.

 

"We think there could be upside risks to these forecast highs, in the event of additional US policy easing or signs of inflation following the liquidity injections of the past four years. ..."

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eMail to Jim on China and Gold « Jim Sinclair's Mineset

Here's a snipped from an email that Jim Sinclair recieved. The writer states something that has been my thought for some time now:

 

"... I (and others) believe China will use its power over the gold market as a last resort in times of domestic political crisis. A significant repricing of the metal will be the same as putting cash into the pockets of their population, whom they have been encouraging to buy gold for some time now. China can easily achieve this. Look what happened to the price of gold last time they officially adjusted their holdings. Their actions will, at some stage, help propel the price northwards significantly.

 

"What few westerners understand is that any Asian family with any kind of wealth ALWAYS owns at least some gold. Gold has always been money and a store of wealth for this region, which also has the majority of the world’s population. ..."

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