Gold and What Mov...
Follow
78.0K views | +2 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...
Your new post is loading...
Scooped by Hal
Scoop.it!

Pimco's Gross Again Recommends Gold

Pimco's Gross Again Recommends Gold | Gold and What Moves it. | Scoop.it
Billionaire Bill Gross, the managing director of Pimco, one of the largest fixed-income investment companies in the world, and the man charged with stewarding the world's biggest bond fund in the Pimco Total Return Fund (PTTR...

 

by Tim Iacono:

 

"... Simply put, policy makers (particularly those in the U.S.) are likely to do whatever it takes to try to restore economic growth to its past glory (whether that is possible or not). That will involve inordinate amounts of money printing and even higher levels of debt.

 

"Regardless of whether we've entered an era of inherently slower growth -- more like 1% or 2% in the U.S. rather double those rates -- elected officials in Washington and the folks at the central bank are sure to summon whatever resources they can to turn things around. That means further debasing the world's reserve currency, and that's a big positive for gold.

 

"Otherwise, the U.S. turns into Europe.

 

"Along with the yellow metal, Gross also recommends other commodities ..."

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

Trader Dan's Market Views: Gold Bulls Attempting to Hold the Line at the 100 Day Moving Average

Trader Dan's Market Views: Gold Bulls Attempting to Hold the Line at the 100 Day Moving Average | Gold and What Moves it. | Scoop.it

Dan Norcini writes:

 

"Today's breach of both psychological as well as technical chart support centered near the $1700 level has set the bulls on their heels while raising the spirits of the gold bears.

 

"The market has not been able to get its feet solidly underneath it since that beating it took last Wednesday. When the overnight seller/sellers of large size managed to shove it down below the low of that last Wednesday, they found the stops that they were hoping to find and then some.

 

"The market is now moving purely on technical momentum as there is really not a lot in the way of fundamental developments. The Dollar is actually lower today while at the same time reports indicate strong buying of gold in Asian markets. ..."

 

Click over for the charts and the rest of the post from Dan.

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

Turkey`s Nov gold imports rise to 4.2 tonnes

Turkey`s Nov gold imports rise to 4.2 tonnes | Gold and What Moves it. | Scoop.it

The latest data released by the Istanbul gold exchange shows that imports climbed to 4.2 tonnes in November from 3.7 tonnes in October.

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

The Answers To Today’s Most Common Questions « Jim Sinclair's Mineset

Jim Sinclair writes:

 

"My Dear Extended Family,

 

"This should serve as an answer to more than 300 emails:

 

1. There is no top in place for the gold price. Absolutely none.

 

2. This reaction is an operation using the MSM multitude of reports on the Fiscal Cliff sure to occur in order to scream unopposed deflation (wrong).

 

3. The US Dollar and Gold are under pressure by the operators screaming Fiscal cliff, deep depression, no additional stimulation will be provided.

 

4. As usual since $248 Gold, they are dead wrong as to the result.

 

5. The fact that the Fed is the primary buyer of US Treasuries is the common denominator of all the reasons why gold is going to $3500 and above. This common denominator is simply not going to change for years.

 

6. The Administration proposes as part of a Fiscal Cliff compromise that the debt Ceiling be permanently removed. That means debt to infinity.

 

7. This is nothing more than noise.

 

"It has finally happened. I am buried by your emails. I apologize, but there simply are too many people emailing the same question for me to reply.

 

"Respectfully,
Jim"

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

Lucky Horseshoes & Empty Promises Won’t Halt This Decline

Good read from Michael Pento on King World News.

 

Here's a snippet:

 

"... Turning to China, if government spending was the solution, then the Shanghai composite index would not be down 20% in 2012 and now be trading at a four-year low. Also, if central bank counterfeiting from the ECB was the answer, Spain’s stock market would not be down 6% for the year. And if the U.S. was indeed rebounding after a multi-year recession, why is the S&P 500 down 4% since the end of this summer--especially in the light of the fact that it has not gained one point from the level it was five years ago?

 

"If the global economy was about to make a turn to the upside, then industrial commodity prices would presage a rebound in growth. But instead, copper prices are down from close to $4.00 per pound in February, to just $3.60 today. Oil prices were trading close to $100 a barrel in the summer and have sold off to just $88 today. ..."

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

Geithner presents proof of inflation.

Geithner presents proof of inflation. | Gold and What Moves it. | Scoop.it

Today John Embry spoke with King World News about the recent action in gold and silver, and what will overcome the massive paper short positions in the silver market. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “I was struck by a comment from Tim Geithner that the US is going to be phasing out pennies and nickels in early 2013. The reason he gave was that it costs a great deal more to make them than they are technically worth.

 

“A penny is a penny but it costs almost a nickel to make it. Similarly, a nickel is a nickel but it costs over 15 cents make a nickel. So naturally they are being done away with. This is a perfect example of the insidious inflation in the whole post-war era.

 

"Now I’m old enough to remember when I could buy a chocolate bar for a nickel, and now there aren’t going to be any more nickels. ..."

 

Had to laugh at this. I've been thinking the same thing. Plus now they are talking of eliminating the paper dollar bills in favor of a coin.

 

Click over to read what John says will Break The Massive Silver Short Positions

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

Turk - Here Is Why They Are Pounding Gold & Silver Today

Turk - Here Is Why They Are Pounding Gold & Silver Today | Gold and What Moves it. | Scoop.it

James Turk tells King World News:

 

"... The reason they are attempting to make gold and silver look weak here is because these monetary metals will provide the foundation when the monetary system is eventually re-constructed, and the price of gold and silver will be far higher than the numbers they are painting the tape with today. But before that day comes, they need to shake as many people out of these markets as possible so they are victims of the greatest wealth transfer in history, not beneficiaries.”

 

Click over for the full piece from King World News.

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

NSA Whistleblower: Everyone in US under virtual surveillance, all info stored, no matter the post

RT talks to William Binney, whistleblower and former NSA crypto-mathematician who served in the agency for decades. Virtual privacy in US, Petraeus affair and whistleblowers' odds in fight against the authorities are among key topics of this exclusive interview - READ SCRIPT http://on.rt.com/9ycore

 

 

hat tip to www.jsmineset.com

 

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

Gold Supply Crunch Coming? - Casey Research

Why gold will become scarcer despite rising production worldwide.

 

by Alena Mikhan:

 

"A number of market analysts and gold-industry insiders are warning about a possible shortage of gold supply. Barrick CEO Jamie Sokalsky recently stated that since gold production is inelastic (i.e., insensitive to price changes) there will be a very limited increase in supply from gold producers, even during sharp increases in the gold price. Rick Rule, a billionaire and avid gold investor, pointed out that while we're seeing spectacular demand, a number of issues will make supply very tight in the future, especially among retailers.

 

"The issues facing gold miners are well known: depletion of existing mines, lower grades, and fewer new discoveries – especially big and rich ones. Further, miners face increased calls for nationalization, demands from workers for higher pay or from local communities for better infrastructure, and – of course – environmental concerns. Many mining company representatives say it's getting harder to not only find large deposits but to get those deposits into production. Some estimate it now takes twice as long as to go from discovery to production vs. a decade ago.

 

"These warnings aren't always taken seriously, especially by those who see that mine production has been growing. At first glance, they're correct – but only if you look at the short-term picture. The following chart shows that global mine production has indeed been rising since 2008. From 2009 through 2011, output rose an average of 3.9% per year. However, we know that a good chunk of this increase is due to China, and upon excluding its output, you can see how it alters the global picture. ..." click through for the chart and the rest of the article.

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

Peter Grandich – Time To Pack Up And Go On Vacation Till Next Year

Peter Grandich – Time To Pack Up And Go On Vacation Till Next Year | Gold and What Moves it. | Scoop.it

from FinancialSurvivalNet:

 

Peter Grandich was on with us, giving his last interview of 2012. We both agree that the year is for all intents and purposes over. The institutional traders have locked in their profit and therefore their bonuses and what happens from hereon in is really just noise and completely irrelevant. Don’t be surprised to see Da Boyz get in one last smack down for good measure. This is what happens when markets stop serving their price discovery function and start serving primarily political purposes. And it could very well continue until after the inauguration. Appearances, after all, must be maintained at all costs.

 

You can click over to hear the radio interview.

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

Jeff Clark: So How Many Ounces of Gold (or Silver) Should You Own?

Jeff Clark: So How Many Ounces of Gold (or Silver) Should You Own? | Gold and What Moves it. | Scoop.it
This week, Chris talks with Jeff Clark, Senior Precious Metals Analyst at Casey Research, where he serves as editor of their Big Gold newsletter.

 

They tackle head-on many of the questions weary precious metals investors are wondering after enduing the volatile yet range-bound price action of gold and silver over the past year:

 

Have the fundamentals for owning gold & silver changed over the past year? No

 

What are they? currency devaluation/crisis, supply-chain risk, ore grade depletion

 

How should retail investors own gold? Mostly physical metal, some quality mining majors (avoid the indices), and ETFs only for trading

 

Is gold in a bubble? No

 

Could gold get re-monetized? Quite possibly

 

Where is gold flowing? From the West to the East. At some point, capital controls will be put in place

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

Tom Cloud: Wholesale Gold Inventories Evaporating | John Rubino | Safehaven.com

Tom Cloud: Wholesale Gold Inventories Evaporating | John Rubino | Safehaven.com | Gold and What Moves it. | Scoop.it

by John Rubino:

 

"In this week's interview with gold dealer Tom Cloud of National Numismatic Associates, we cover one very timely topic - the sudden decline in gold inventories - and one perennial question - how can an individual put physical precious metals in an IRA.

 

"DollarCollapse: Good to talk to you again Tom. Let's start with your observation that the major gold wholesalers don't seem to have their usual level of inventory. Why the sudden tightness?


"Tom Cloud: Of the seven or eight major wholesalers that send me price sheets, almost every one is having supply issues. Some [coins and bars] I can get right away, but most take between a few days and two weeks.

 

"The wholesalers don't necessarily know why this is, but some speculate that the 58 tons that China's central bank purchased in September was responsible, and that [the Chinese] purchased at least that much more in October. When a big seller elects to sell something they don't even put it in the market any more, they just call up China's central bank, and we see the report four weeks later, if we see it at all.


"And it's not just China. Central banks in general are buying. Until 2011 central banks were selling gold ..."

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

Gold's Big Fuss Over Nothing | Adrian Ash | Safehaven.com

Gold's Big Fuss Over Nothing | Adrian Ash | Safehaven.com | Gold and What Moves it. | Scoop.it
What a fuss over nothing! Gold crept back Friday morning to right where it stood before last Friday's sudden 1.4% jump, trading at $1730 the ounce.

 

Adrian Ash writes:


"... The developed world is pushing ahead with trying to inflate away its obligations. This week Greece was given leave by its lenders to start writing off 20% of its debt. Yet if you're looking for an over-extended bull market, look no further than government debt.


"Buying US Treasury bonds has delivered negative returns in only 4 of the last 31 years. That relentless rise has taken down interest rates worldwide. Because bond payments are a fixed sum, whereas the interest they pay shows that sum as a percentage of their market price. So the higher the price, the lower the interest rate. Now they stand next-to-zero.


"Unless interest rates go negative - as a small band of central-bank policy wonks would like - then bond prices really can't rise much further again. Gold of course already pays nothing in interest. It's been way ahead of the curve during this depression so far. It remains uninflatable and undefaultable as 2013 beckons. No one's to print, and no one's to destroy, gold is still the opposite of debt."

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

BIS gold report hints at repatriation by central banks | Gold Anti-Trust Action Committee

BIS gold report hints at repatriation by central banks | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

By Robert Lambourne
Tuesday, December 4, 2012

 

"I have been checking on the changes that have taken place to the gold banking business carried out by the Bank for International Settlements since March 2009 and the bank's use of gold derivatives (essentially all are gold swaps), which have grown from zero as of March 31, 2009. All the data in the table below is sourced from BIS annual reports and from the bank's 2012 interim report published in early November. Here is a link to it:

 

http://www.bis.org/banking/safinstats120930.pdf

 

"In March 2009 the BIS held gold sight accounts -- unallocated gold -- with a number of major central banks, presumably those based in traditional gold-trading markets. Apart from the bank's own gold, the source of the gold sight accounts arose from gold that was deposited in sight accounts with the BIS with all or most of it deposited with the BIS by other central banks. Historically and especially during World War II central banks used the BIS to act as an intermediary in the gold market to protect against their gold sight accounts being confiscated or blocked by the bank holding the gold deposit. So, as an example, during World War II the German central bank held gold in a BIS sight account that was in turn deposited by the BIS in London, and consequently this gold was not confiscated or blocked by the United Kingdom government in the war. ..."

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

Central Banks Hedge Their Bets

Central Banks Hedge Their Bets | Gold and What Moves it. | Scoop.it
Gold appears to be headed for an impressive price appreciation for the second half of 2012. Since the beginning of July, gold is up almost 10 over the same time frame.

 

by John Browne:

 

"... Reports have recently been released that throw particular light on the degree to which central banks around the world are accumulating gold. These activities must be playing a significant role in keeping the heat turned up when it may be otherwise cooling down. Given the extraordinary degree of insight that central bankers are expected to have, what do they see that drives them to buy gold when classically the metal should be falling in times of recession?

 

"As we have said many times, there are two fundamental investment reasons to buy gold. The first is as a hedge against the loss of purchasing power of fiat currency, caused either by inflation or currency debasement. The second is as insurance against political and financial uncertainty or collapse. Central bankers are not giving either scenario much lip service. ..."

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

The Golden Truth: The Economy Is Weaker Than Government Reports Show

The Golden Truth: The Economy Is Weaker Than Government Reports Show | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"'Someone is going find out sooner or later that what they thought they were going to get, they're not going to get' - Eric Sprott in reference to the massive and accelerating deficit in U.S. Government entitlement promises.


"It's interesting to note that the above quote from Eric Sprott can also be applied to everyone invested in the various forms of paper gold/silver and who tragically believe that the custodian of the trusts and exchanges (Comex, LBMA) actually have the gold/silver in the amounts represented by the paper securities outstanding.

 

"In fact, to tie that into my subject title, one could say that Americans are not getting the economy that the Government, and the Wall Street charlatans who own the Government, is representing through fraudulent, Orwellian data reporting. But let's take a look under the hood...

 

"I want to start off with a study reported yesterday that showed the net worth of American households hit a 43-year low: "The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969" LINK You can read through the details and needless to say - so I'll say it anyway - I'm sure that news report failed to make most mainstream media outlets.

 

"I'm sorry, but there's just no way in hell that the housing market can possibly recover with that fact about household net worth being the case. ..."

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

Silver and Gold – ‘Tis the Season

Silver and Gold – ‘Tis the Season | Gold and What Moves it. | Scoop.it

by Kim Bacic:

 

"... There is something about gold – almost magical like the Christmas season – that only you can experience when you hold that gold bullion (or two) in your hand. You officially become someone who owns a precious metal – gold.

 

"And what a pleasure it is to know that silver and gold can help give you financial security in these times of economic uncertainty. I mean, let’s face it, someone is jumping off that cliff come January – the Republicans continue to encourage the Democrats to extend the Bush-era tax cuts and strongly discourage the tax rate increase for the upper 2% … while the Democrats are fighting the Republicans proposal to slash spending on Medicare, Mediciad and Social Security. Someone is going to take the hit for the fall… Protect yourself with something that historically gives you a good chance to keep your financial footing.

 

"And let’s not forget that as we fall off the cliff, we may well be jumping back up into a time of a recession and inflation. If the tax hikes and federal spending cuts do indeed occur, they will have a direct impact on consumer behavior of every US household. We will have less spending power, and with the reductions in various departments due to the federal cuts, many jobs will be lost. Gold may provide you the pleasure of knowing you will still have purchasing power. ..."

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

Marriage season gold demand in India swells

Marriage season gold demand in India swells | Gold and What Moves it. | Scoop.it

Indians made jewellery purchases worth $7.2 billion in the quarter ended September 2012, belying claims of a slowdown in the market.

 

by Shivom Seth:

 

MUMBAI (MINEWEB) -

 

"India's penchant for gold jewellery does not seem to be fading away any time soon, despite the fact that the Indian government seems intent on curbing sales of the precious metal.

 

"Despite constantly rising prices, the consumption of the yellow metal has been steady. With the wedding season in full swing in India, there is no slump in the sales of gold.

 

"With the rate of pure gold shooting up to $608.97 (Rs 33,300) per 10 gram for 22 karat gold, one would have rightly presumed that gold jewellery is well out of the reach of a majority of people.

 

"Not so. In the quarter ended September 2012, Indians made jewellery purchases worth $7.2 billion (Rs 395 billion). In contrast, gold exchange traded funds (ETFs) garnered just $91 million (Rs 5 billion) of inflows.

 

"The wedding season, which extends well into the new year, is expected to ensure even better sales for gold retailers. ..."

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

Housing Inventory Suppressed On Purpose and Shadow Stimulus-Fabian Calvo

http://usawatchdog.com/over-20-million-houses-sitting-vacant-fabian-calvo/

 

Fabian Calvo buys and sells $100 million worth of real estate and distressed debt a year and says, "Over 20 million houses, on any given night in America, are completely sitting vacant." According to Calvo, the economy is being helped by "shadow stimulus." It's coming from millions of underwater homeowners who have stopped making mortgage payments. Calvo also says banks are not foreclosing ". . . because the inventory has been suppressed on purpose by big players." Calvo says, "Money that would have been otherwise allocated towards a housing payment is going into consumer spending." Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Fabian Calvo of The NoteHouse.us.

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

Treasury Scarcity to Grow as Fed Buys 90% of New Bonds

Treasury Scarcity to Grow as Fed Buys 90% of New Bonds | Gold and What Moves it. | Scoop.it

By Liz Capo McCormick & Daniel Kruger

 

"Even as U.S. government debt swells to more than $16 trillion, Treasuries and other dollar fixed- income securities will be in short supply next year as the Federal Reserve soaks up almost all the net new bonds.


"The government will reduce net sales by $250 billion from the $1.2 trillion of bills, notes and bonds issued in fiscal 2012 ended Sept. 30, a survey of 18 primary dealers found. At the same time, the Fed, in its efforts to boost growth, will add about $45 billion of Treasuries a month to the $40 billion in mortgage debt it’s purchasing, effectively absorbing about 90 percent of net new dollar-denominated fixed-income assets, according to JPMorgan Chase & Co. ..."

 

hat tip to www.jsmineset.com

 

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

Confiscation, Price Suppression & The True Gold & Silver Price

Confiscation, Price Suppression & The True Gold & Silver Price | Gold and What Moves it. | Scoop.it

Robert Fitzwilson tells King World News:

 

“There have been a number of comments in the past few weeks about the issue of outright confiscation of gold and silver as was done in the 1930s by the Roosevelt Administration. We have also heard views on the suppression of prices for those metals in the paper markets.

 

"If an entity were interested in confiscation, the first place to start would be to determine the highest value items to confiscate, not simply repeat what was done in another era. The value of gold and silver held by individuals is trivial compared to the other real assets such as labor, industries, real estate and energy. ..."

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

Trader Dan's Market Views: The "Whack-a-Mole" Gold Bandit Strikes Again

Trader Dan's Market Views: The "Whack-a-Mole" Gold Bandit Strikes Again | Gold and What Moves it. | Scoop.it

Dan Norcini writes:

 

"... selling of this magnitude is done with one purpose and one purpose only - to take down a market.

 

"Some of the usual skeptics will no doubt instantly dismiss such talk of manipulated price again. Attempting to convince such is a fruitless endeavor. Someone could piss down their backs and they would still believe it is raining. Truth be told it matters not whom the culprit/culprits are; their footprints are unmistakeable.

 

"Gold will need buying on the physical markets to absorb the speculative long liquidation and fresh shorting that is now occuring as a result of this technical breakdown of the paper markets. That means Asian buying and Central Bank buying." click over for the full post and chart.

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

Multi-million gold heist from boat in Caribbean - Telegraph

Multi-million gold heist from boat in Caribbean  - Telegraph | Gold and What Moves it. | Scoop.it
Armed men dressed as police boarded a fishing boat Friday in Curaçao and stole about 70 gold bars worth an estimated $11.5 million (£7.2 million), police in the southern Caribbean island said.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Devil's Greatest Trick - Central Banks Should Exist

Watch the full Keiser Report E 374 on Saturday! In this episode, Max Keiser urges "Sami don't pay," challenges the anti-anti-fragile Nassim Taleb to a black ...
more...
No comment yet.
Scooped by Hal
Scoop.it!

CONQUERING THE “FEAR FACTOR” WITH SILVER - The Prospector Blog

CONQUERING THE “FEAR FACTOR” WITH SILVER - The Prospector Blog | Gold and What Moves it. | Scoop.it
TheProspectorSite.com exists to provide proof via current events and history that precious metals are one of the best ways to preserve and grow your wealth.

 

"If you find yourself anxiously searching for answers in a time of great complexity then today’s post is for you. I see two trends that lead me to believe many folks are reacting to an emotion that has consumed the soul of man for thousands of years. Yesterday’s news was no surprise, not to me at least. It seems gun sales are up nearly 20% this Black Friday over last. Why, because people are afraid? Maybe this is why gold and silver sales are up comparably, too. So, before you buy another ounce, or AK-47, please read the following closely.

 

“He who fears something gives it power over him.” Author: Moorish proverb ..."

 

click through for the rest.

more...
No comment yet.