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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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American Eagle Gold coin sales set for best January since 1999 | MINING.com

American Eagle Gold coin sales set for best January since 1999 | MINING.com | Gold and What Moves it. | Scoop.it
Already greater volume than December with three weeks to go.

 

According to figures from the US Mint website sales of American Eagle gold coins – a good indicator of overall gold demand in the US – this month already add up to 85,500 ounces.

 

That surpasses the 76,000 ounces for the whole of December.

 

127,000 ounces were sold during January last year and 133,000 ounces during the same month in 2011, the only times sales had reached triple digits since 2000.

 

With three more weeks to go, at the current rate sales of the popular coins should easily surpass those tallies. ...

Hal's insight:

So what do you supposse is up with gold this time? Hmmm.... We avoided the fiscal cliff, didn't we?

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John Hathaway - 11 More Key Gold Charts & The Big Picture

John Hathaway - 11 More Key Gold Charts & The Big Picture | Gold and What Moves it. | Scoop.it

January 11 (King World News) - Charts 16 & 17 reveal a potential time bomb for US treasuries. Interest on the public debt is close to historical lows, due in part to Fed manipulation, the “fear” trade, and old fashioned momentum.  Think of what 300 or 400 additional basis points across the yield curve would do to the fiscal deficit.  (Hint: what is 4% x $16 trillion as a percent of future fiscal deficits?  Answer: it is very high).

Hal's insight:

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Davies - Gold Is Now Set Up For A Vertical Price Explosion

Today rising star Ben Davies spoke with King World News about the extraordinary prediction that he made for the Japanese to enter the gold market in size.  Davies was the first in the world to make such a call and it has proven to be deadly accurate, to the point where this is now actively being discussed in mainstream media.  On the heels of being proven correct on his call for the Japanese to enter the gold market, Davies now predicts that gold is getting very close to the point where it will see a vertical explosion to the upside. 

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Federally Assistance Or Just A Hedge Fund? « Jim Sinclair's Mineset

My Dear Friends,


The early morning operation took place today taking gold off the $1704 level. Many of us are convinced that what we are seeing has Federal assistance. That means to us that the Fed is lending gold to the gold banks to facilitate the operation. Because of that there is a fear of taking on the operation.

 

I got a call last evening from a friend in the huge private hedge managed money telling me that we have all been bamboozled. The size of hedge funds today can easily mimic what would be considered Federally sponsored. The Fed is quite pleased, but is not the infinite power behind the bear operation that started at $1800.

 

It is a wild man/women with very big, but not infinite funds that is operating the gold market. That which the longs fear is air, and nothing more than a major huge hedge fund operation.

 

It is certainly is worth considering. Apple is not off from $750 on its own power. Herbalife did not drop off its recent high without significant help.

 

In another life at 35 years old I did similar things on the long side. I used banks common then to the Middle East to run gold hard on the upside. I even hired an actor to dress up like a Saudi Sheik. I hired armed private guards. I hired a stretch limo. Nobody knew it was a spoof except the actor, myself and my partner . We arranged ...

Hal's insight:

Read this missive from Jim Sinclair carefully, folks. Click through for the full piece.

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Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries

Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz told King World News that Swiss gold refiners have been overwhelmed with orders for physical gold and buyers are now experiencing major delays in deliveries.  Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this remarkable, exclusive interview:  “I had stated previously that gold would bottom in the last week of December, and this is what happened.  That daily, intraday low that we’ve seen was a screaming buy both fundamentally and technically.  I can tell you there were many banks and other parties taking advantage of this low, Eric.


“This is important information for your (readers and) listeners:  There has been major buying in the physical market as gold came down in the last week of December, and the first week of January.  The Swiss refiners are now working at absolute full capacity.

 

There is a delay in fulfilling orders. ..."


Hal's insight:

Click through for the rest from King World News.

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Inflation Propaganda Exposed | Peter Schiff | Safehaven.com

Inflation Propaganda Exposed | Peter Schiff | Safehaven.com | Gold and What Moves it. | Scoop.it

Economists who hold the popular view that expanding the money supply will provide the best medicine for our ailing economy dismiss the inflationary concerns of monetary hawks, like me, by pointing to the supposedly low inflation that has occurred during the current period of rampant Fed activism. In a recent blog post aimed specifically at me, Paul Krugman noted that the sub 2.5% increases in the Consumer Price Index (CPI) over the past few years are all that is needed to prove me wrong. In fact, Krugman and others have even suggested that the CPI itself overstates inflation and that the Fed would be better able to help the economy if less strict methodologies were used. However, there is plenty of evidence to suggest that the CPI is essentially meaningless as it woefully under reports rising prices.

 

Magazines and newspapers provide a good case in point. The truth has not been exposed through the economic reporting that these outlets provide, but in the prices that are permanently fixed to their covers. For instance, from 1999 to 2002 the Bureau of Labor Statistic's (BLS) "Newspaper and Magazine Index" (a component of the CPI) increased by 37.1%. But a perusal of the cover prices of the 10 most popular newspapers and magazines (WSJ, Washington Post, Time, Sports Illustrated, U.S. News & World Report, Newsweek, People, NY Times, USA Today, and the LA Times) over the same time frame showed an average cover price increase of 131.5% (3.5 times faster than the BLS' stats). This is not even in the same ballpark.

 

Some defenders of the BLS may conclude that prices were held down by the availability of free online news content or the convenience of digital delivery. But that is beside the point. Prior to the digital age, the BLS could have claimed that newspaper costs were held down by public libraries that provided free access. It's also true that online publications deliver less value on some fronts. Not only do many people enjoy the tactile process of reading physical newspapers or magazines, but they offer the secondary value in helping to kindle fires, housebreak puppies, pack dishes, and line birdcages. ...

Hal's insight:

You'll need to click through for the rest of the article.

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Gold price ends losing streak as Chinese and Americans stock up

Gold price ends losing streak as Chinese and Americans stock up | Gold and What Moves it. | Scoop.it
Buying on the dips.

 

by Frik Els:

 

The price of contract gold increased Tuesday, ending a three-session drop that at one point saw the metal trading at four-month lows.

 

February gold settled at $1,662 an ounce in New York, up just short of $16, or 1% on the day and held onto the day's gains in after hours trading.

 

Buying was set off by signs of strong physical demand particularly from China ahead of the Lunar New Year holiday. ...

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Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times

Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times | Gold and What Moves it. | Scoop.it

Ed Steer had an interesting note and chart:


"... The commentary included with the graph was as follows...  "As you can see, over the entire 12-year precious metal bull market, gold has bottomed in January seven times...but only once after April amidst the 2008 global meltdown...when the cartel viciously attacked to mask gold's "once and future" roll as a safe haven...only to see it recoup all such losses by February 2009." ..."

Hal's insight:

Click over for the full size chart and check out the chart on Chinese gold imports from Hong Kong.

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Pakistan imports Gold worth $16.387 million in Nov-2012

Pakistan imports Gold worth $16.387 million in Nov-2012 | Gold and What Moves it. | Scoop.it
Gold imports in November 2012 stood at $16.387m against those of $3.957m and $30.006m in November 2011 and October, 2012 respectively.

 

LAHORE(BullionStreet): ... According to Commerce ministry, country's gold imports, however recorded an increase of 314.13 per cent when compared with those of November 2011.

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Tajikistan holds 100 tons of stream Gold reserves

According to Tajikistan's chief geologist Azim Ibrohim, prospective stream gold reserves in the country
make about 100 tons.

 

DUSHANBE(BullionStreet): Former soviet state Tajikistan said country has mapped prospective reserves of stream gold deposits.

 

According to Tajikistan's chief geologist Azim Ibrohim, prospective stream gold reserves in the country make about 100 tons.

 

The stream gold deposits mainly lie in the north and the south-east of the country. Over 1,500 work places will be created during development of these deposits, he said. ...

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Charles Hugh Smith: Martian Central Bank Interested in Buying 100 $1 Trillion Coins

Charles Hugh Smith: Martian Central Bank Interested in Buying 100 $1 Trillion Coins | Gold and What Moves it. | Scoop.it

The $1 trillion coin saga takes an unexpected twist....


The $1 trillion platinum coin saga took a surprising turn as the Central Bank of Mars has expressed interest in buying 100 of the proposed coins. Interpreters are puzzling over the meaning and subtexts of the Martian communique; since Martian is described as an often-ambiguous combination of Fortran and Hungarian, this is no easy task. Opinion on the Martian offer is divided. Some suspect the Martian Central Bank intends to buy the $100 trillion in platinum coins with electronically created quatloos, i.e. worthless currency. These observers believe the Martians intend to claim the $100 trillion in platinum coins constitutes a claim on the entire U.S.A., the purchase of which would effectively give the Martian Central Bank a massive beachhead on Earth. ...
Hal's insight:

This is beautiful. LOL! Click over for the full piece.

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The Golden Truth: The Gold Bull Stage 2: Here Come The Pensions

The Golden Truth: The Gold Bull Stage 2: Here Come The Pensions | Gold and What Moves it. | Scoop.it
Pension money invested in bullion is 'peanuts' at the moment...If 1 percent of their total assets shift to the metal, the gold market would explode. - Itsuo Toshima, advisor to Japanese pension funds (Bloomberg, link provided below)


I have maintained since 2002 that the precious metals and mining stock market would eventually erupt into bull market frenzy that would at least rival, and likely succeed, the bull market frenzy we saw in tech stocks. Part of what will fuel this frenzy is the enormous flow of institutional investor money, globally, that will eventually find its way into the precious metals and mining stock sector. Because the amount of potential capital from institutions from just a small increase in sector allocation - relative to the total size of the precious metals/mining stock sector - the price effect is potentially enormous.

There are a lot of solid fundamental reasons for this. But from a technical perspective, the total size by market capitalization of the gold, silver and publicly traded mining stocks combined is absolutely minuscule in relation to the total size of global investible institutional assets. To put this in perspective, the market cap of each of the top 15 stocks in the S&P 500 is individually larger than the total market of the entire publicly traded mining stock sector (1). Think about that for a minute. Apple has a bigger market cap than every single mining stock globally combined.

Hal's insight:

Dave makes some very interesting points.

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Santelli To Congress: Ignore The Market, Focus On Your Country | Zero Hedge

CNBC's Rick Santelli nails it once again by cutting through the idiocy and spin that is almost the entire mainstream media's view of the 'fiscal cliff' resolution.
Hal's insight:

click over for the video.

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Charles Hugh Smith: Themes for 2013

Charles Hugh Smith: Themes for 2013 | Gold and What Moves it. | Scoop.it

Eight trends to follow in 2013 and beyond.

  Rather than attempt to predict the unpredictable – that is, specific events and price levels – let’s look instead for key dynamics that will play out over the next two to three years. Though the specific timelines of crises are inherently unpredictable, it is still useful to understand the eventual consequences of influential trends. In other words: policies that appear to have been successful for the past four years may continue to appear successful for a year or two longer. But that very success comes at a steep, and as yet unpaid, price in suppressed systemic risk, cost, and consequence.Trend #1: Central Planning intervention in stock and bond markets will continue, despite diminishing returns on Central State/Bank intervention ...
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Click over for Smith's 8 trends.

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Trader Dan's Market Views: A Sermon to the Land

Trader Dan's Market Views: A Sermon to the Land | Gold and What Moves it. | Scoop.it

I am fully aware that the readers of this site do not regularly tune in to listen to my musings on the political and spiritual condition of the nation but rather to read my interpretations of market action especially in the precious metals realm.

However, I feel compelled to express what I am calling a sermon to the land, based on the events I see unfolding around me in this my beloved country. ...

Hal's insight:

Click through for the rest of Traders Dan's piece. History may not exactly repeat, but it certainly ryhmes. Many, many things affect the world around us, but one of the greatest things is the condition of the heart of man and his focus.

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Ray Stevens - Obama Budget Plan

Unhappy about Obama's budget? http://bit.ly/RSbudgetYTL for the new album or single.
Hal's insight:

LOL Hat tip to www.jsmineset.com

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Expect Higher Gold & Unemployment As Stocks Set To Plunge

Expect Higher Gold & Unemployment As Stocks Set To Plunge | Gold and What Moves it. | Scoop.it

Here is what top Citi analyst Fitzpatrick said in two reports, along with powerful charts:  “Initial Claims, one of our favorite leading indicators of the overall economic picture, appear to be bottoming, pointing to a deteriorating employment situation in the US. Additional red flags are being raised by Small Business, ISM and Consumer Confidence.


Fitting with idea that a low could be forming just as it did in late 1978. ...

Hal's insight:

click over for the full piece and charts.

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Gold as a Weapon in the Currency War: Chris Mancini - The Gold Report

Gold as a Weapon in the Currency War: Chris Mancini - The Gold Report | Gold and What Moves it. | Scoop.it
There is a war raging behind the scenes among the world's currencies. Chris Mancini, an analyst with the $400-million Gabelli Gold Fund, believes that gold will emerge the victor.

 

... TGR: You don't hear many pundits predicting a falling gold price in 2013, yet we continue to see volatility in the space. What's your forecast for the gold price in 2013?


CM: We're very constructive on the gold price in all currencies. All over the world, money is being printed, and gold is the one currency that can't be reprinted or replicated. The money that's being printed will ultimately lose its purchasing power, and gold should retain its purchasing power. Gold should continue to go up relative to currencies that will be losing their value. More debt leads to more money printing, and more money printing leads to continued devaluation of currency. It's a positive macroeconomic environment for gold.


TGR: Some investors don't view gold as a currency. They view it as a metal, a relic.

 

CM: Historically, gold has been the ultimate currency and, at some point in the future, will again be the ultimate currency. It's not legal tender, but that still doesn't mean it's not something that will hold its value over time relative to paper. ...

Hal's insight:

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Gold To Dwarf 1970s Move By Smashing Through $6,000

Gold To Dwarf 1970s Move By Smashing Through $6,000 | Gold and What Moves it. | Scoop.it

Today the man that has been meeting for the last two years with key foreign governments and sovereign wealth funds told King World News “... I think my $6,000 target (for gold) is going to prove to be very conservative.”  Also, on the heels of the latest Fed propaganda indicating they would cease QE at some point in 2013, he stated, “... it’s perpetual now.  There is no stopping it.”


This is the second and final written interview that will be released which reveals what is actually taking place behind the scenes with foreign governments and sovereign wealth funds, and how this will impact the financial world and the gold market. ...

Hal's insight:

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Nonovercomplication from TF Metals

Nonovercomplication from TF Metals | Gold and What Moves it. | Scoop.it
Sometimes the answers are right in front of your face.

 

... Note how closely gold, silver and platinum tracked each other through 2012. However, suddenly on 1/3/13, they began to disconnect. Now, maybe there's some fundamental reason for this that I'm overlooking? Maybe, though, the beatdown at year-end and following the FOMC minutes was a deliberate washout attempt on gold and silver only? I'm going with the latter. And maybe now it's simply time for gold and silver to catch up? ...

Hal's insight:

Click through for the full analysis from TF Metals

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India may rise Gold duty to 6% as imports surge again

Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax.

 

NEW DELHI(BullionStreet): Indian government's efforts to control gold imports and the overall hunger for gold by majority of it's population suffered a setback as imports surged on the first week of this year.

 

Traders have imported between 25-30 metric tons in the past one week compared to five to seven metric tons in the previous few weeks, said Prithviraj Kothari, managing director of Ridhi Sidhi Bullion Ltd.

 

Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax. ...

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Twitter / janamurray : If Obama Can Just Create A ...

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Great Question.

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This Is About To Rock The Financial World

This Is About To Rock The Financial World | Gold and What Moves it. | Scoop.it

Eric King:  “Kevin, I know you’ve been communicating with many of the sovereign wealth funds overseas.  What are you hearing from them?”

 

Sprott Inc. President Bambrough:  “The burning question that I always have, I’m amazed at their ongoing willingness to continue to accumulate, and hold, such large amounts of US denominated bonds.  It’s been my view that they are basically playing a Ponzi scheme.

 

I’ve had that confirmed when I’ve had long discussions with different sovereign wealth funds and different government agencies around the world.  They’ve been willing to play this game, but more and more now, as their domestic economies have grown and the US portion of their exports becomes smaller, and with the amount of T-Bills that they have (already) accumulated, I believe they’ve reached the boiling point where they are really going to be unwilling to grow their reserves (of US Treasuries).

 

Just the process of not growing their reserves is going to be very disruptive.  If they are not willing to accumulate more T-Bills, this is going to force the trade deficit closed.  I think that is really going to rock the financial world at some point in the near future.

Hal's insight:

click over for the rest of the King World News. I've been wondering about this for some time mysefl, musing that once this begins to pick up steam around the globe that the fear will break out in DC. Pretty much because the emperor will be shown to have no clothes.

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John Hathaway - 2 Key Charts, Gold, Fed & The Big Picture

John Hathaway - 2 Key Charts, Gold, Fed & The Big Picture | Gold and What Moves it. | Scoop.it

January 10 (King World News) - The bull market in gold remains intact.  The metal rose approximately 7.14% in 2012 in U.S. dollar terms and has increased in each of the last 12 years.  Negative real interest rates incentivize capital to move into gold.  

 

It is difficult to imagine a world of positive real interest rates, absent a significant shift in monetary and fiscal policy in the Western democracies.  Gold and gold shares historically have been positively correlated.  

 

However, during the past few years, gold mining stocks have underperformed the metal due a host of issues that we have discussed at length, including in our article A Golden Mulligan.  Although the article was published a few years ago, the issues afflicting gold mining stocks mentioned then still hold true. 

 

Gold mining stock valuations are at the low end of the historical range since the introduction of the gold ETF (GLD) in 2004, or roughly 10% (basis XAU/spot bullion.)  Significant rallies in gold mining shares have occurred in the past few years from this compressed valuation base. 

 

We see evidence of fundamental change within the gold mining industry, which ...

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Barring a Debt Ceiling Solution, the US Will Begin Defaulting on February 15 2013 | Zero Hedge

We’ve now have just a little over 30 days until US breaches its debt ceiling.

 

We would have already done so, except Treasury Secretary Tim Geithner borrowed some $200 billion from emergency funds to buy a few weeks’ time (announcing that he’d be leaving his post before the actual ceiling was breached).

 

The “solutions” to the debt ceiling discussions range from outright insane ($1 trillion coins) to just staggeringly irresponsible (just get rid of any oversight and grow the debt without restriction).

 

Let us consider the facts.

 

The only reason the US is even having these discussions is because we’ve added $1+ trillion in debt to our balance sheet every year since 2008. The reason we were able to get away with this was because Congress hasn’t even implemented a budget since that time. Indeed, the last time a budget was even proposed (by President Obama in that case) it was rejected 97-0.

 

Let’s say a US family spent all of its savings and income and so began using credit cards to fund its purchases. Then, instead of implementing reforms and a budget, these folks decide to abandon any kind of tracking of their expenses and start spending even more. Eventually this family would begin to stop paying its bills. ...

Hal's insight:

click over for the rest and the charts.

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