Gold and What Moves it.
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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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Inflation to play small part in 'Great Recession' narrative: IMF

Inflation to play small part in 'Great Recession' narrative: IMF | Gold and What Moves it. | Scoop.it
Has the behaviour of inflation changed?

 

Inflation has "barely budged during the Great Recession despite rising unemployment" and "ongoing monetary accommodation is unlikely to have significant inflationary consequences, as long as inflation expectations remain anchored," according tonew research by the International Monetary Fund(IMF).

 

Unlike past recessions, inflation has not fallen sharply during the Great Recession that began in 2008, and the IMF predicts inflation is "unlikely to spike as the recovery strengthens….there is little risk of monetary policy repeating the mistakes of the 1970s and igniting stagflation." ...

Hal's insight:

Famous last words.

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Dropping "Carpet Bombs of Liquidity" Sprott

In what can only be described as a ‘shock and awe’ campaign, last week Haruhiko Kuroda, the governor of the Bank of Japan (BOJ) unleashed a new monetary salvo in the on-going currency wars. While most economists and market watchers can agree that his actions are unprecedented, the fallout of this new policy is anything but certain.

 

Governor Kuroda officially announced that the BOJ is pulling out all the stops in an effort to stimulate the world’s third-largest economy following two decades of stagnation. Despite the prime minister and the governor of the central bank using phrases like “unlimited yen printing” and “I'll do whatever it takes to end deflation”, the BOJ managed to surprise global markets on Thursday, April 4th, with the magnitude of its announcement. For some reason, most market participants had expected that the BOJ would disappoint when it held its first meeting under its new leadership. The BOJ did not disappoint, however, and the Japanese yen plunged almost 6% against the US dollar in the days that followed its stimulus announcement.

 

Foremost among its policy moves, the BOJ intends to double the size of Japan’s monetary base from ¥135 trillion to ¥270 trillion by March 2015. The pace of this quantitative easing is stunning, as the balance sheet of the BOJ will expand by 1% of the nation’s gross domestic product (GDP) each month in 2013 and 1.1% in 2014. This is almost twice the current pace of 0.54% of GDP engaged in by the US Federal Reserve. The BOJ will accomplish this by doubling its purchases of government bonds. The BOJ will also make more purchases of risk assets, including ¥1 trillion yen worth of ETFs and ¥30 billion of REITs, which will positively affect their respective Japanese markets. And with the objective of achieving a 2% inflation target, the pace of expansion in the balance sheet will increase this year to ¥5.2 trillion per month from the previous ¥3.6 trillion rate. For 2014, the balance sheet is projected to expand by ¥5.8 trillion per month versus a previously planned rate of ¥1 trillion per month. In layman terms, this is throwing everything AND the kitchen sink at Japan’s deflation problems. ...

Hal's insight:

hat tip to http://www.caseyresearch.com/gsd

 

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The Tunnel People That Live Under The Streets Of America

The Tunnel People That Live Under The Streets Of America | Gold and What Moves it. | Scoop.it

Did you know that there are thousands upon thousands of homeless people that are living underground beneath the streets of major U.S. cities?  It is happening in Las Vegas, it is happening in New York City and it is even happening in Kansas City.  As the economy crumbles, poverty in the United States isabsolutely exploding and so is homelessness.  In addition to the thousands of "tunnel people" living under the streets of America, there are also thousands that are living in tent cities, there are tens of thousands that are living in their vehicles and there are more than a million public school children that do not have a home to go back to at night.  The federal government tells us that the recession "is over" and that "things are getting better", and yet poverty and homelessness in this country continue to rise with no end in sight.  So what in the world are things going to look like when the next economic crisis hits? ...

Hal's insight:

So perhaps this where all the people that the Gov takes off the unemployement rolls go? Pretty sad.

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dakota dodds's comment, April 10, 2013 10:32 PM
Thousands of Americans are living underground, tent cities, and or their vehicles. So with the parents homeless, then the childern are part of the downfall and don't have a home to go to. Then what would happen if their is another crisis hits? The recession is suppose to be getting better yet its going the complete opposite direction. My thoughts are that we should not be runing into problems like this, especially Obama saying his plan is to make things better. We are suppose to be the United States and can make stuff happen. We can do anything and everything that doesn't partake in the U.S. But we can't even take care of are own people.
Karen Valenzuela's curator insight, April 2, 1:53 PM

There are thousands and thousands of people who are living under major cities in the United States and we don't even know it. The government keeps saying that it is going to get better and that the recession is over, yet there are more than one million public school children that are homeless. The homeless shelters in New York City has risen by 19%. The middle class keeps shrinking and one out of six Americans is now living in poverty. The government is not doing anything about the fact that there are millions of homeless people in the United States. Homeless shelters can only go so far, tent cities are bigger than ever and people are ending up in prison because there are no other choices anymore. 

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Goldman Buying Gold, Selling Treasurys To Muppets Whom It Advises To Do Opposite | Zero Hedge

There was a brief period of confusion for a while when Goldman didn't have clear muppet-stomping trades on the book, and those who wished to frontrun the Goldman prop desk (and do the opposite of the muppet flow) were stuck furiously scratching...
Hal's insight:

Yet anothe case of do as I say and not as I do for the big bank.

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Gold selling spree hits Japan as prices soar

People were seen queuing outside jewelers from Tokyo to Osaka, with the price of gold in Japan jumping 4.8% this week as the dollar came close to hitting 100 yen, up from about 80 yen late last year.

 

TOKYO(BullionStreet): Japanese sees yet another opportunity to sell their gold for cash after the metal prices soared on weaker yen.

 

Analysts said Japan's gold holders may be preparing to cash out of some bullion after the yen's drop has sent domestic prices of the metal soaring.

 

They added that gold prices climbed in Japan while prices have softened elsewhere as the declining value of the yen against the dollar makes the precious metal worth a lot more in Japan.

 

People were seen queuing outside jewelers from Tokyo to Osaka, with the price of gold in Japan jumping 4.8% this week as the dollar came close to hitting 100 yen, up from about 80 yen late last year.

 

Japan's gold market is heating up after ...

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Silver Premiums, Demand & Shortages

Silver Premiums, Demand & Shortages | Gold and What Moves it. | Scoop.it

Back in 2008, silver fell from over $20 per ounce down to below $10. This was a stomach-turning experience for those who had begun investing heavily in the metal.

 

I heard reports of bullion dealers in the US who simply were not selling Monster Boxes of Silver Eagles. Physical metal was hard to find in spite of the price collapse.

 

That nadir didn't last for long as silver obviously rebounded magnificently, teasing its old psychological record of $50 an ounce. Realistically, it took some time for silver to crescendo amid increased demand arisen from The End Of The Monetary System As We Know It (TEOTMSAWKI).

 

So, realistically, one could expect that silver would thus consolidate over a similar amount of time. And it did. Still is...

 

Even today, just under $30, silver has represented a formidable store of value since 2008 - and before -  if you can stomach the sheer weight of the devil's metal. (You're probably a HomeGrowner.)

 

Because it has been such a formidable store of value, demand has remained, and many mints in the world can't keep up.

 

So, it makes sense that coin premiums are now rising. ...

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Russian Central Bank could slash interest rates if eсonomy contracts in 2013 — RT Business

Russian Central Bank could slash interest rates if eсonomy contracts in 2013 — RT Business | Gold and What Moves it. | Scoop.it
Reducing Central Bank interest rates is a possible option if economic growth slows down and unemployment rises says Elvira Nabiullina, newly appointed head of Russia’s Central Bank.
Hal's insight:

No where have we seen that play before?

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Slovenia could become next Cyprus, may need EU bailout — RT Business

Slovenia could become next Cyprus, may need EU bailout — RT Business | Gold and What Moves it. | Scoop.it

The situation with the Cyprus bailout is prompting speculation about other EU members where the economy is deteriorating, which indicates a possible escalating debt crisis in the eurozone as a whole.

 

Economists polled by Bloomberg believe that Slovenia’s insolvency, deepening at the fastest pace in eurozone after Cyprus, could force the country to become the sixth euro member to need aid. The situation with Slovenia will be considered on April 12 in Dublin during the next euro group meeting.

 

According to Tuesday’s statement from the Organization for Economic Co-operation and Development (OECD) Slovenia may have "significantly" misread the cost of healing its troubled banking sector, but will not need financial aid urgently.  ...

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Sinclair: Conflict Erupts As Elites Plan More Wealth Destruction

Sinclair: Conflict Erupts As Elites Plan More Wealth Destruction | Gold and What Moves it. | Scoop.it

Today Jim Sinclair warned King World News that conflict has now erupted between Western central planners as the elites have planned further wealth destruction.  Sinclair also cautioned that people in the US and Canada will be shocked when their wealth is stolen.  Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis, had to say in this remarkable interview.


Sinclair: “How in the world can Lagarde say that Cyprus is a one-off?  The spreading of bail-in being written into Canadian law, New Zealand law, as well as in other countries, tends to indicate that what has been done in Cyprus is in fact a test case for further application.  If it wasn’t, it was an economic act of war by Europe against Russia.”

 

Eric KIng:  “Jim, when you see that being written into law in countries elsewhere, they are not setting that up for no reason.”


Sinclair:  “No.  They are not writing that in because some junior clerk supports the approach.  When countries write things into legal documents it passes legal review.  So the possibility of that being a mistake is nil....

 


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Ed Steer's Gold & Silver Daily on the retail bullion market:

Ed Steer's Gold & Silver Daily on the retail bullion market: | Gold and What Moves it. | Scoop.it

... 

what's going on in the paper world is light years removed from what's happening in the retail market for bullion...as there is no sign anywhere that I can see that the public is backing off in their attempts to partially exit the banking system.  The recent events in Cyprus and Japan...plus the new sale prices that JPMorgan et al have provided in all four precious metals...has brought out another round of determined buyers.

 

As I said in this space during the last week, the buyers' attitudes have changed.  Before it was about making a buck...now it's about wealth preservation and the world's central banks' wall-to-wall ZIRP.  I'd call it a paradigm shift of sorts...phase transition as they say in physics, or 'The 100th Monkey Principle' in psychology...and as Ted Butler mentioned on the phone yesterday, the next rally will most likely bring out another wave of buyers, most likely even stronger than the two big rallies that we've experienced during the last eighteen months. ...

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Own Gold LLC's curator insight, April 10, 2013 9:12 AM

Protect your wealth, get rid of your paper money and own something tangable!

 

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The Fed’s Own Fear Scale Soars: Holdings of Cold Hard Cash | Zero Hedge

A sign of "economic and political turmoil"

 

In 1969, notes greater than $100, including the cool $10,000 note  that would still pay for a lot of things, were retired due to “declining demand.” Prematurely, it turns out. Because demand for cold hard cash, despite plummeting use of it for transactions, has surged. Reason: fear.

Modern payment technologies have been taking over transactions. Since 2000, transaction volume via debit cards skyrocketed 18.4% per year, electronic bank transfers 13.5% per year, and credit cards 3.7% per year, reported San Francisco Fed President and CEO John Williams in “Cash Is Dead! Long Live Cash!” Conversely, use of checks dropped by 5.8% per year.

Cash does have advantages: it’s reliable even during blackouts or after earthquakes when nothing works anymore; and it’s anonymous so that companies can’t track you when you by pita bread and hummus, information that years later might lead a promotion-hungry genius at some counter-terrorism office to send drones after you. Because cash is murky, the San Francisco Fed could only estimate transaction volume. And it’s down sharply.

 

The other reason to hang on to cash is as a store of value, albeit a lousy one as interest income is zero.... Oops, same as most bank accounts! As the Cyprus bail-in debacle has demonstrated, handing your cash over to a bank is nothing but a loan, and when the bank craters, the uninsured deposit, and perhaps even the insured deposit, might evaporate or get a crew cut.

 

So, in these crazy times of ours, when central banks ...

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oftwominds-Charles Hugh Smith: Good Banker, Bad Banker

oftwominds-Charles Hugh Smith: Good Banker, Bad Banker | Gold and What Moves it. | Scoop.it

It's important to draw a line between two very different flavors of banker: "restrained" (Dr. Jekyll) and "unrestrained" (Mr. Hyde).


Those who read The Proper Use of Credit (April 4, 2013) know that I see a vital role for credit and yes, banks, in a sustainable economy. But as many observers have pointed out, banks must be controlled lest the predatory, parasitic Mr. Hyde replaces the proper Dr. Jekyll role of providing capital to worthy enterprises and households.
In response to Debt = Serfdom (April 2, 2013), longtime correspondent Jeff W. delineated the difference between Good Banker (restrained) and Bad Banker (unrestrained). Unfortunately, as Jeff explains, it is Mr. Hyde (unrestrained banker) who has captured the political and regulatory machinery of governance.

Here is Jeff's commentary: ...
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China buys 97.106 tons of Hong Kong Gold in February

China's rising affluence has buoyed the country's demand for the precious metal, with the net gold flow from Hong Kong to China hitting a record high of 557.478 tonnes in 2012.

 

HONG KONG(BullionStreet): China continued to accumulate gold from it's autonomous region Hong Kong with a 97.106 tons purchase in February this year.

 

According to official data from Hong Kong Census and Statistics Department, Regions net gold flow to mainland China rebounded last month from three-month lows in January, reflecting increased demand ahead of the Lunar New Year holiday and as buyers took advantage of weaker prices.

In January China imports 51.303 tons of gold from Hong Kong. The net gold flow from Hong Kong to China stood at 60.958 tonnes, after excluding 36.148 tonnes of imports from China, based on the data.

 

In January, the net flow hit a three-month low of 27.336 tonnes. "People were shifting gold to the mainland ahead of the start of the second quarter," said a dealer in Hong Kong, adding that a drop in bullion prices also spurred buying from China. ...

Hal's insight:

This sleeping giant continues it's march toward more and more gold holdings. I, for one, think there is a good deal more gold aquistions we aren't hearing about.

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Incredibly Important Developments In Gold & Silver Markets

Incredibly Important Developments In Gold & Silver Markets | Gold and What Moves it. | Scoop.it

Today King World News is reporting on incredibly important developments taking place in the gold and silver markets.  Acclaimed commodity trader Dan Norcini told KWN that “What we are seeing is a battle of titans taking place in the gold, silver, and commodity markets.”  Norcini also warned that this is a similar type of setup in which the silver market moved a staggering 525% higher, and gold advanced 183%.


Norcini has been stunningly accurate in his predictions of the movement in the gold and silver markets.  Now the acclaimed trader discusses these incredibly important developments in both of these markets:  “What Japan is doing right now is unprecedented.  The Japanese are engaged in massive QE.  Their current version of QE actually exceeds the size of what the Fed has done when you compare the scale of both economies.

 

The world continues to witness tremendous turmoil in the currency realm, and Japanese institutions hold a staggering $6.34 trillion of government bonds, in the face of a plunging yen and virtually no yield on their bonds.  What this is creating is a massive flight of money out of Japan.   

 

This is impacting key markets around the world.  Yesterday, as an example, we saw a tremendous rally in silver, solid strength in gold, and a big rally in the mining shares.  But this move is very different than what we have seen in the past.  This strength in gold, silver, and key commodities, is taking place as money is fleeing Japan....


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What Will Really Trigger the Next Asian War? - Casey Research

The odds of war in Asia increase daily, but the biggest threats have nothing to do with the Korean peninsula.

 

By Marin Katusa

 

North Korea has been rattling its sabers once again, even producing some videos that threaten attacks on US forces using "powerful weapons of mass destruction" and show an invasion of Seoul where thousands of American citizens are taken hostage. American senators are already up in arms about how a "major war" is brewing on the Korean peninsula.

 

But as usual, American lawmakers are completely missing the point. The real war will not be launched by the hungry, demoralized troops of North Korea, but rather the warships of China, Taiwan, the Philippines, Vietnam, Malaysia, Brunei, and Indonesia. And unlike a North Korean invasion that could likely be thwarted in days, a war in the South China Sea would have far bigger implications. ...

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China's CPM sees stable Gold this year

China's CPM sees stable Gold this year | Gold and What Moves it. | Scoop.it
Gold prices this year are likely to hover at high levels and global central banks quantitative easing policies will continue to support gold prices.

 

BEIJING(BullionStreet): Contrary to reports by other major firms, China's gold mining and processing firm China Precious Metal Resources (CPM) expects gold prices to see stable growth this year.

 

According to CPM's chief financial officer Zhang Liwei, gold would be boosted by the ample liquidity in the market as a result of quantitative easing by central banks.

 

He said gold prices this year are likely to hover at high levels and global central banks quantitative easing policies will continue to support gold prices. Central banks from emerging markets will keep buying gold for their reserves.

 

"It's difficult to predict gold prices, but I don't expect prices to fall as long as the global economic conditions remain uncertain," Zhang, he added ...

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Strong Gold demand in Asia should offset ETF selling

Strong Gold demand in Asia should offset ETF selling | Gold and What Moves it. | Scoop.it
Silver prices ticked higher to $27.40 per ounce, while gold regained $1574.

 

The price of gold and silver was little changed Tuesday morning near last week's finish, while European stock markets rose but Japan's Nikkei stalled its 5-day surge as the Yen bounced higher from 4-year lows on the currency market.

Silver prices ticked higher to $27.40 per ounce, while gold regained $1574.

Energy and industrial commodity prices also edged higher. Major government bonds eased back, nudging up the interest rate offered to buyers.

The US Treasury will this week auction $66 billion in new debt, according to Bloomberg data.

"The [quantitative easing] actions of the Bank of Japan are having a profound effect on bond yields," notes the commodities team at Standard Bank today, "across especially emerging markets."

Because the BoJ's promise of $1.4 trillion in new money creation by 2015 is ...

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oftwominds-Charles Hugh Smith: Which Dominoes Are Next to Fall in Europe?

oftwominds-Charles Hugh Smith: Which Dominoes Are Next to Fall in Europe? | Gold and What Moves it. | Scoop.it

If things fail from the periphery to the core, perhaps dominoes fall that way, too.


Wondering which dominoes are next to fall in Europe? Correspondent David P. provides a list based on a simple but powerful precept: follow the smart money. In this case, the smart money entered the at-risk banking sector of a particular nation to skim the fat premium offered by its higher interest rates--rates that reflected the higher risk. The smart money then exits the nations' banking sector before the inevitable solvency crisis triggers capital controls and depositor expropriations (the comically misleading "bail-in"). Why is any money left in at-risk periphery banks? David and I discussed two dynamics.David describes the first--chasing yields: 1. "The Chasing of Yield in a Time of Financial Repression. People chase those nickels, and since nobody (had) yet been hit by the steamroller, it was all fun and games. A good chunk of them are in time deposits, and now they can't escape. And a decent chunk is local money, too."
2. The assumption that small depositors would be protected from losses in the event of a bank failure. There was little reason for anyone to ...
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Gold nanoparticle breakthrough could change how we explore for minerals within the Earth's crust

Gold nanoparticle breakthrough could change how we explore for minerals within the Earth's crust | Gold and What Moves it. | Scoop.it
Viewing gold nanocrystals in high resolution.

 

by Anthony Halley:

 

Using a new technique that corrects the distortions of x-ray beams, scientists can now "access the whole field of nanocrystal structures" under levels of pressure that exist deep inside the earth, according to Professor Ian Robinson of the London Centre for Nanotechnology.

 

Until now, focusing an image of nanocrystals under pressure using x-ray diffraction has proven difficult, but the new technique, which holds gold nanocrystals in a device called a Diamond-Anvil Cell (DAC), is analogous to putting on appropriately adjusted prescription glasses, said Robinson. ...

Hal's insight:

This is pretty cool tech.

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U.S. closer to have gold as legal tender: report

U.S. closer to have gold as legal tender: report | Gold and What Moves it. | Scoop.it
Arizona is the main state pushing for residents to be able to use bullion as rightful currency.

 

by Cecilia Jamasmie:

 

... “The legislation is about signalling discontent with monetary policy and about what Ben Bernanke is doing,” Gatch told Bloomberg. “There is a fear that the government, or Bernanke in particular and the Federal Reserve, is pursuing a policy that will lead to the collapse of the dollar. That’s what is behind it.”

 

Gold-backed money fell out of favour during World War I because the U.S. and many other countries needed to print more cash to pay for the war.

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Goldman Big Shots 'Too Big to Jail'

Despite the flurry of high profile SEC cases, Wall Street's biggest hitters remain untouchable, Jonathan Macey, author of The Death of Corporate Reputation, ...
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hat tip to http://metalmadnesstv.blogspot.com

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Richard Russell - The Fed, Hard Times, A Crash & Collectibles

Richard Russell - The Fed, Hard Times, A Crash & Collectibles | Gold and What Moves it. | Scoop.it

With gold and silver surging, today the Godfather of newsletter writers, Richard Russell, writes about everything from Bernanke leaving the Fed, to stocks, bonds, diamonds, watches, and the extremely challenging employment picture.  Below is what Russell had to say to subscribers:


“Youngsters, 25 years of age and under, are having a devil of a time finding any kind of employment.  Sunday's LA Times featured a lead article describing how many companies are working their employees harder to make up for workers that have been fired.  These same companies have dispensed with birthday and holiday parties. Many companies monitor the actual amount of work their employees are producing.  The article describes one 47-year old woman who comes home so exhausted that she flops into bed and skips dinner. ...


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Comex Gold Inventories Collapse By Largest Amount On Record | Bull Market Thinking

Comex Gold Inventories Collapse By Largest Amount On Record | Bull Market Thinking | Gold and What Moves it. | Scoop.it

A stunning piece of information was brought to my attention yesterday. Amid all the mainstream talk of the end of the gold bull market (and the end of the gold mining industry), something has been discretely happening behind the scenes.

 

Over the last 90 days without any announcement, stocks of gold held at Comex warehouses plunged by the largest figure ever on record during a single quarter since eligible record keeping began in 2001 (roughly the beginning of the bull market). See chart ...

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Own Gold LLC's curator insight, April 10, 2013 9:15 AM

Where did all the gold go?

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Dow Jones At New All Time Highs - Here's Why | Zero Hedge

Dow Jones At New All Time Highs - Here's Why | Zero Hedge | Gold and What Moves it. | Scoop.it
Curious why the Dow Jones just hit new all time highs?
Hal's insight:

This is why gold will continue to climb and we are not about to see its so called bubble burst. The fundamentals have not changed. What we are seeing now in the markets is illussion.

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Gold Is Always Rallying Somewhere – Gold IS the price of money

In his latest TV appearance, Jim Rickards (author of the best seller Currency Wars) talks on Bloomberg about how currency wars and gold dynamics are coming together.

 

Gold is 25% up in the last 3 months, but it’s up in Yen, not dollars. This is where currency wars and gold dynamics come together. When you think about cross rates it’s a zero sum game. Not every currencycan go down against every other currency at once. Gold is always rallying somewhere; right now it is rallying in Yen. It you want to be fancy, you are short Yen and buy gold. When the Yen gets to 110 then, you want to short sterling and buy gold. At the end of the day you will come back to gold in dollars. Gold is not going to do much in [US] dollars this year. I look for a dollar move late this year or in 2014. Meantime you can always make money in gold, as “it is always 5 o’clock somewhere.”

 

By pulling some charts together, we were able to visualize what Jim ...

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THis is a must read. Click through for the rest.

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