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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Central bank bigwigs offered course on how to manage all their gold | MINING.com

Central bank bigwigs offered course on how to manage all their gold | MINING.com | Gold and What Moves it. | Scoop.it

The World Gold Council is offering a three-day course this spring limited to executives at central banks and finance ministries on looking after their gold reserves.

 

According to the course description, participants will learn supply and demand, economic conditions and how asset prices impact gold in various currencies. Getting a handle on bullion may be useful, notes the brochure, since central banks now control one-fifth of the world's gold, currently running at US$1.7 trillion.

 

Cost is now $2,900 since early registration has passed. The course is being run jointly by the University of California, Berkeley and the World Gold Council. ...

Hal's insight:

This to me is the most laughable thing I've heard this week.

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Diamonds.net - Gold Jewelry Demand +4% to $103B in 2012

Diamonds.net - Gold Jewelry Demand +4% to $103B in 2012 | Gold and What Moves it. | Scoop.it

RAPAPORT... Global gold demand reached a record of $236.4 billion in 2012, up 2 percent year on year, according to the World Gold Council. The fourth quarter experienced the strongest performance as demand rose 6 percent to $66.2 billion, and that was also a record high for the quarter. The average price of gold during 2012 was $1,669 per ounce, up 6 percent from 2011.

 

Gold jewelry demand fell 3 percent year on year by weight, according to the group; however, the value of gold improved 4 percent to $102.6 billion. Gold demand by weight from India actually dropped 12 percent in 2012. But the World Gold Council observed a 41 percent increase in the final quarter of the year in part due to a surge in jewelry demand, up 35 percent and the highest level in six quarters. The prospect of duty increases, which came in to force in January 2013, likely added to gold buying in the fourth quarter, according to the trade group.

 

In China, gold demand by weight was flat in 2012, but jewelry demand inched up by 1 percent in the fourth quarter. ...

Hal's insight:

hat tip to https://twitter.com/MonetaAdvisors ;

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oftwominds-Charles Hugh Smith: Don't Worry, Be Resilient

oftwominds-Charles Hugh Smith: Don't Worry, Be Resilient | Gold and What Moves it. | Scoop.it

History offers few examples of major nations that prospered by borrowing vast sums for consumption and speculation. The same holds true for households.


At some point, absorbing more information about the unsustainability of modern society yields diminishing returns. It becomes emotionally draining and thus counterproductive. Part of this exhaustion results from recognizing our powerlessness within the Status Quo, where independent thinking and structural innovation are intentionally winnowed out as threats to existing institutions and industries. Another part arises from the burden of knowing that the supposedly permanent Status Quo is far more vulnerable than generally believed. I have described the psychology of knowing what lies ahead in The Burden of Knowing. A related factor that is never publicly discussed is the negative impact on our mental health of all the propaganda that we are force-fed by the Mainstream Media (MSM).  When truth is incrementally undermined by massaged data and behind-the-façade manipulation, we lose faith in key State and media institutions and suffer from a propaganda-induced disconnect between what we see and what is ...
Hal's insight:

Click through for the rest of Charles Smith's post.

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Felix Zulauf: World Headed Toward 1987 Style Market Collapse

Felix Zulauf: World Headed Toward 1987 Style Market Collapse | Gold and What Moves it. | Scoop.it

Today renowned money manager Felix Zulauf told King World News that global stock markets are careening toward a 1987 style market collapse.  Stock markets plunged in 1987, and the world is at risk of that situation developing once again, according to Zulauf.  Zulauf, founder of Zulauf Asset Management and 20+ year Barron’s Roundtable panelist, also said gold will head to new all-time highs during the coming market chaos. 


This is the first of a three part written interview series that will be released on King World News today.  In these interviews the legendary money manager discusses why he believes central planners will fail, how this will lead to systemic collapse, gold repatriation, what investors should be doing with their money right now, how they can protect themselves going forward, and much more.

 Eric King:  “Felix, you’ve had a chance to look at how things evolve globally each year as we go through this cycle.  How do you see the end game playing out at this point?  How do you think this will end?  Meaning, if the world doesn’t solve its situation in a conventional manner, as you said earlier, will we see a greater degree of chaos than the world witnessed in late 1979, early 1980?”

 

Zulauf:  “At some point in time we have to get rid of the debt that we have.  Obviously central banks are trying to do that by financial repression.  The consensus among the investment community is that financial repression will work.  I’m not so sure.

 

Financial repression means that they put interest rates below the inflation rate, and by doing that the debt-to-GDP level of the different segments in an economy, the households, governments, etc., drops down over time.  Drops down to more reasonable and manageable levels.  I’m not sure that can be achieved. ...

Hal's insight:

Click through for the rest of the interview and stay tuned for the next two parts on www.kingworldnews.com 

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Richard Russell: History About To Repeat - Hang On To Gold

Richard Russell: History About To Repeat - Hang On To Gold | Gold and What Moves it. | Scoop.it

With key global markets at or near breakout levels, and the “Metal of Kings” marking time before reasserting its dominance, the Godfather of newsletter writers, Richard Russell, writes about Americans still partying, gold, the Fed, and stocks in a note to subscribers: “The central banks of the world are on a mission to keep the world economy going.  A great bull market started in 1980.  It ended in 2007, a period of 27 years.  As such, it was, in duration, the longest bull market in US history.  A bear market started in October 2007.”


“Bear markets tend to last from one-half to one-third as long as the preceding bull market.  On that basis, the bear market that started in 2007 might be expected to continue for at least nine years (one-third of 27) or until 2016.  However, the Central banks, and certainly President Obama, have attempted to halt the bear market and thus continue the prosperity we have enjoyed ever since World War II.  

 

As proof of the Fed's success, I would expect both the D-J Transportation and Industrial Averages to advance to new highs, thereby signaling that the tide had reversed to bullish (a bull market).  According to classic Dow Theory, the primary trend of the market cannot be manipulated.  Further, according to classic Dow Theory, the movements of one Average, unconfirmed by the other Average, are useless as guides to direction, and are more than likely to prove deceptive. ...


Hal's insight:

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Gold price drops to 6-month low amid currency confusion | MINING.com

Gold price drops to 6-month low amid currency confusion | MINING.com | Gold and What Moves it. | Scoop.it
Too soon to call a bear market?

 

The spot gold price closed at  $1,640 on Monday,  the lowest closing price since 21 August 2012.

 

Gold's latest retreat comes as G7 officials issuemultiple – often contradictory – statements in an attempt to tackle the prospect of intensifying currency wars amid a G20 finance ministers and central bankers meeting in Moscow.

 

The G7 most highly industrialized nations – recently most notably Japan – are using monetary policy to become more competitive by devaluing their currencies.

 

The tactics employed by the US and others which include near-zero interest rates and asset purchases under quantitative easing  or QE programs have led to howls of protest from emerging markets like Brazil and retaliatory measures by China. ...

Hal's insight:

Too soon? Yeah, I think so. Ask yourself. What has changed? Nothing, unless you count that debt has only increased and the can has only been kicked further. No one, repeat, No ONE has moved to stop the bleeding.

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Currency War: U.S. Cannot Absorb a Deflationary Spiral - Yra Harris

http://usawatchdog.com/currency-wars-are-real-yra-harris/ - Legendary trader Yra Harris is counting on the Fed to continue to pump out dollars. He says, "I can go to sleep at night and know one thing--the Fed will not allow deflation." The reason is simple, according to Harris, "We live on debt in this society. Debt based societies cannot absorb a deflationary spiral." Join Greg Hunter as he goes One-on-One with analyst and trader Yra Harris.

Hal's insight:

hat tip to www.jsmineset.com

 

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Eric De Groot: Homeowners Using Their Homes Like ATMs Again?

Eric De Groot: Homeowners Using Their Homes Like ATMs Again? | Gold and What Moves it. | Scoop.it

The securitization of mortgages was viewed by many, including the Fed, as way to spreading risk, increasing loan demand and profits, and supporting underlying asset prices. Real estate loan demand and home prices soared when securitization offered credit to the millions once considered too risky.  It didn't take long for homeowners to realize they could covert the unexpected bounty of rising equity into cash.  This CDO-driven virtuous cycle was viewed by many as the long sought perpetual motion machine of modern finance.

A smart few, however, realized that while this machine spread risk, it's massive profit potential, driven by greed, would also discarding the principles of sound finance. As the CDO pile grew, the quality of loans written declined dramatically.  The ...

Hal's insight:

That can't be a bad thing, riiiight?! Eventually, I'll knock myself out by hitting my head against the wall.

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SURPLUS MY FAT ASS « The Burning Platform

The crap reported by the government and MSM is mind boggling to behold. The sheep will just take this headline in as the truth. It’s nothing but lies, misinformation and bullshit government accounting. Please proceed to this link:


http://www.treasurydirect.gov/NP/BPDLogin?application=np


Enter December 31, 2012 and January 31, 2013 into the form and you get these results:


National Debt on 12/31/12 – $16,432,730,050,569.12


National Debt on 1/31/13 – 16,433,791,850,294.04


The government reports a $3 billion surplus, but the National Debt goes up by $1.06 billion. Close enough for government work. Interest does not get paid on the reported deficits. It gets paid on the actual debt.


Trust no one. Especially your government.

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Currency Wars Are Evil | Axel Merk | Safehaven.com

Currency Wars Are Evil | Axel Merk | Safehaven.com | Gold and What Moves it. | Scoop.it
Real people may die when countries engage in "currency wars." Countries debasing their currencies risk, amongst others: Loss of competitiveness, Social unrest and War. We discuss not only why we believe currency wars are evil, but also ...
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Reasons Not To Buy Gold?

Reasons Not To Buy Gold? | Gold and What Moves it. | Scoop.it
Mark Hulbert wrote a shockingly inept article for Barron's online which expressed reasons not to own gold: 5 Reasons Not To Buy Gold.

 

... Now, onto the primary reason to buy gold: it's a time-tested hedge against rampant Government-motivated fiat currency devaluation. Let's use the U.S. dollar since we live in this country and buy goods denominated in dollars. The U.S. dollar index hit 121 in mid-2001.Currently, it's hovering around the 80 level. That's a 33.8% decline in the value of the U.S. dollar relative to currencies that make up the index. At the same time, the price of gold in mid-2001 was $270 per ounce. It's currently $1650 per ounce. That's a 611% appreciation in price vs. the U.S. dollar. In other words, the U.S. dollar has lost 83% of its purchasing power relative to gold. That's a remarkable fact and one that gets no mention anywhere in the mainstream media. ...

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Who Will Win The Currency Wars? | Zero Hedge

Who Will Win The Currency Wars? | Zero Hedge | Gold and What Moves it. | Scoop.it

As debate about potential currency wars heats up, commentators including myself have called out the likely losers, the Japanese yen and South Korean won being high on most lists. Much less discussed has been which countries will win from the currency wars. After all, the currency market is a zero-sum game - as one currency declines, another must go up. In this issue, I'm going to suggest that Singapore and to a lesser extent, Thailand and Malaysia, will be relative winners. And I'm also going to explain why some supposed currency safe havens - including Australia, China, Canada, Switzerland and Norway - are unlikely to perform as well.

Now I know that some will point to gold being money and the ultimate winner of the race to the currency bottom. I too am a gold bull and suggest the metal should be a core component of any investment portfolio. Having written about gold on previous occasions though, today the focus will be on currencies. ...

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Middle East nations urged to increase Gold holdings

Middle East nations urged to increase Gold holdings | Gold and What Moves it. | Scoop.it
Despite the fact that most Middle Eastern nations pegged their currencies to the dollar, they should expand their gold reserves holdings,

 

DUBAI(BullionStreet): Despite the fact that most Middle Eastern nations pegged their currencies to the dollar, they should expand their gold reserves holdings, according to Dubai International Financial Centre Authority.

 

This will help shield their assets in dollars from volatilities in global currency markets, it said.

 

Here is a list of the Middle Eastern countries in respect of their gold holdings. ...

Hal's insight:

Click through for the list.

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Jake Red Dorman's curator insight, November 13, 2014 3:24 PM

 Little did I realize that not only was the middle east rich off of oil, but they have large amounts of gold as well. Saudi Arabia is the, "14th of the top twenty holders of gold worldwide. It holds gold reserves of approximately 339.6 tons. Saudi Arabia is the top gold holder in the Gulf region." Lebanon is 18th among the 100 countries worldwide in terms of gold reserves. Their plan to expand their gold reserve holdings to shield their assets in dollars in the global currency markets which is genius in my opinion. 

 

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South Africa’s gold output down 21.2% in December - Mineweb

South Africa’s gold output down 21.2% in December - Mineweb | Gold and What Moves it. | Scoop.it

JOHANNESBURG (REUTERS)  - 

South Africa's gold output fell by 21.2 percent in volume terms in December, while total mineral production fell 7.5 percent compared with the same month last year, data showed on Thursday.

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World gold demand falls in 2012 for first time in three years | MINING.com

World gold demand falls in 2012 for first time in three years | MINING.com | Gold and What Moves it. | Scoop.it

World gold demand hit its lowest level since 2009 last year as India and China, the two main consumers of the precious metal, bought less jewellery and Western investment dropped.

 

According to the World Gold Council’s report published Thursday, Central banks and institutional investors stepped up their purchases of the precious metal by 17% last year but it wasn't enough to offset the decline.

 

The council said 4,405.5 metric tons were sold in 2012. That's down 176.8 metric tons, or 4%, from 4,582.3 metric tons in 2011. ...

Hal's insight:

Anyone else scratching their head over this report? I suppose it could be that people are running having to use their fiat for food and can't go into gold as much in the past. That and people may have been suckered into thinking the politicians and banksters saved the world.

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Gold Will Balance The Balance Sheet Of The Transgressors « Jim Sinclair's Mineset

From Jim Sinclair on gold today:


My Dear Friends,

 

Please do not be hoodwinked by these demonic sociopath bankster gold banks that, just like in 1979-1980 with the help of Trojan Horse gold writers, stole a huge amount of gold and gold shares from long term cash investors, leaving them without any insurance as the gold market made the highest price and covered the most dollars of appreciation over the shortest period of time.

 

In the 70s gold appreciated on the basis of what MIGHT happen. Gold is going to and through $3500 because of what has already happened already. Not one more problem by one more dollar is required for gold to attempt to move in price to balance the balance sheets here, there and everywhere. ...

Hal's insight:

Listen to Santa. 

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Eric De Groot: US Federal Budget Contracting

The economic recovery has positively concentrated the US federal budget. While skeptics and contrarians likely view this concentrated rise as extended and negative, it must be viewed within the context of larger economic up cycle until 2016 transition (red to green block transition). In other words, this could be one of many concentrated readings leading up to 2016.  As the 2016 transition approaches, the probability that a concentrated reading suggests trouble ahead increases dramatically.

Hal's insight:

Click through for the chart.

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Gold Bears Out Of Time & About To Pay The Ultimate Price

Gold Bears Out Of Time & About To Pay The Ultimate Price | Gold and What Moves it. | Scoop.it

Michael Pento tells King World News:

 

... “Regarding the notion that the dollar is about to re-emerge as the world’s most desirable currency holding, the G20 nations meeting in Moscow this week released a statement proclaiming they are not currently engaged in a currency war.  In saying they embrace “market-determined” exchange rates, these most wealthy nations sought to calm fears that Europe, Japan and the United States were outwardly competing to win the crown of the world’s weakest currency. 

 

However, in truth the U.S. and Japan are already in the middle of a Currency Cold War…at the very least.  The BOJ has committed to a 2% inflation rate, which is the same target inflation rate the Fed has adopted.  To that end, both the Fed and BOJ are purchasing massive quantities of bank debt.  Asian Development Bank President Haruhiko Kuroda, the most likely candidate to take over the Japanese central bank next month, said this week, “A two percent inflation target has become a global standard, and it is a landmark decision on the BOJ's part to adopt the same target.”  

 

The only way a nation can achieve a sustained rate of inflation is to commit to a perpetual increase in the rate of currency creation.  This action will send real interest rates further into negative territory.  Since both the BOJ and Fed are in a tacit currency war, the only guaranteed winner will be precious metals. ..."

Hal's insight:

click over for the full piece.

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Gerald Celente - The Frightening Trends For 2013 & 2014

Gerald Celente - The Frightening Trends For 2013 & 2014 | Gold and What Moves it. | Scoop.it

“There is a currency war going on.  History is repeating itself.  People don’t realize what really happened during the ‘30s.  They hear the high school version of World War II.  What happened was in the early 1930s Japan took itself off of the gold standard and began to devalue its currency.

 

They wanted to devalue their currency so their products would be a lot cheaper.  They (Japan) devalued their currency to such a point that it fell over 60% against the dollar, and over 40% against the pound sterling.  Then you had trade wars heat up.  People hear the stories about how Japan was cut off from natural resources, and then you had World War II.  

 

You are seeing the same thing replay now.  We had the Panic of ’08.  We’re in a Great Depression.  When you look at numbers coming out from Shadowstats, you see that real unemployment is around 22% (in the US).  There is no economic recovery.  The only recovery that has been attained has been by pumping cheap money into the system.  

 

Now there are currency wars ... So what they are doing is pumping the system with cheap money.  The only difference I see now (vs the 1930s) is that China is Japan.  China has eclipsed the United States as the biggest trading nation.  That’s the enemy now. ...

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Ghana again denies official involvement in Iran Gold deal

Ghana again denied any involvement in transferring 1.5 tons of gold to Iran.

 

ACCRA(BullionStreet): Ghana again denied any involvement in transferring 1.5 tons of gold to Iran.

 

A statement by country's Information ministry said preliminary findings from an on-going investigations has absolved the government from playing any role in the transfer of 1.5 tonnes of gold to Iran.

 

However, the reports said two Ghanaians,operating under the corporate identity of Omanye Gold Mining Ltd were involved in a transaction to supply gold to one Iranian national.

 

It said the cargo departed Accra on 31st December 2012 with the goods which was destined for Dubai but was detained in Ataturk International Airport in Istanbul, Turkey on 1st January, 2013 because of claims of questionable documentation. ...

Hal's insight:

Deny it. Well, Duh! There is some international agreements making it a negative thing to trade with them. What you would expect them to do. Not only that but if they use gold for money that is like a double negative against them. Of course they would deny it. Don't want the central bankers mad at them. That would really be bad.

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Why 2.5 Billion Heartbeats Might Change The Way You Think About Money | WhereDoesAllMyMoneyGo.com

Why 2.5 Billion Heartbeats Might Change The Way You Think About Money | WhereDoesAllMyMoneyGo.com | Gold and What Moves it. | Scoop.it
I had the very extreme honour of being invited to give a TEDx talk recently. For those not who are not familiar with TED Talks, they are essentially a gathering
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Iran again invites Russia to join its oil and gas projects — RT

Iran again invites Russia to join its oil and gas projects — RT | Gold and What Moves it. | Scoop.it
Iran has offered Russian companies another chance to develop a number of its domestic oil and gas fields. The offer comes after several previous joint projects collapsed due to various reasons.
Hal's insight:

Keep in mind that Russia is a big gold holder. LOL

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The Golden Truth: State Of Collapse

The Golden Truth: State Of Collapse | Gold and What Moves it. | Scoop.it

by Dave in Denver:

 

"Leadership?  What leadership?  They're just figureheads.  Look at the money behind them?  It's just incredible to me that most people look at these politicians and they think that they're the people creating and implementing policy.  They definitively are not.  They are bought and paid for many times over by big corporate interests and wealthy individuals.  The rest is nothing but a dog and pony show.  The human version of the  Westminster Dog Show.

Take a look at the people Obama has appointed for Secretary of Treasury and the SEC.  You think for one second that if most of the people in this country bothered to look into their backgrounds and Wall Street track records and current Wall Street ties that they would vote for those two people if we could vote on appointments?   No way in hell.  Both Jacob Jack Lew and Mary Jo White are completely conflicted and heavily under the influence of Wall Street.  ...

Hal's insight:

Click over for the rest. I've tried to explain this to other friends of mine and they, like, Dave's colleage, just don't get it.

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Who Holds the Most Gold?

Who Holds the Most Gold? | Gold and What Moves it. | Scoop.it

The price of gold has been in consolidation mode for over a year. On Monday, the precious metal logged its third consecutive daily loss and reached its lowest level in five weeks. Gold produces very trying price swings for investors of the safe haven, but central banks are still keeping a tight grip on their holdings.


Central banks became net buyers of gold in 2009 for the first time in decades, with Russia and China leading the way. According to recent IMF data compiled by Bloomberg, Russia’s central bankadded 570.1 metric tons of gold to its stash over the past decade, the most of any nation in the world and almost triple the weight of the Statue of Liberty. China and Turkey were the next largest gold accumulators with 454.1 and 243.5 metric tons, respectively.

 

Evgeny Fedorov, a lawmaker for Vladimir Putin’s Untied Russia party, tells Bloomberg, “The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency.” ...


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Nepal Gold imports up nearly 15%

Nepal Gold imports up nearly 15% | Gold and What Moves it. | Scoop.it
Nepal Gold and Silver Dealers Association said import value of gold shot up by double digit during the six-month period even though daily imports of gold through formal channel remained unchanged at 15 kg.

 

KATHMANDU(BullionStreet): Nepal imported 14.38 percent more gold during the first half of this fiscal as against the same period of last fiscal year.

 

According to Nepal Trade and Export Promotion Center, the nation imported gold worth Rs 13.28 billion in the six-month period to mid-January as against Rs 11.61 billion recorded in the same period last year.

 

The Center attributed the hike to international price hike of the precious yellow metal and depreciation of Nepali currency. ...

Hal's insight:

Now why in the world would they want gold, hmmm? LOL  

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