Gold and What Mov...
Follow
72.1K views | +34 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!

China Is Looking Into Taking Over One Of Africa's Biggest Gold Miners

China Is Looking Into Taking Over One Of Africa's Biggest Gold Miners | Gold and What Moves it. | Scoop.it

by Matthew Boesler:

 

"Barrick Gold, the world's biggest gold producer, announced today that they are in talks to sell the 74 percent stake in its African mining business to China National Gold Group Corporation, a state-owned enterprise in China, via a statement on its website.


"The deal is a great example of China's desire to push further into Africa to invest in commodities in order to support its rapidly expanding economy. ..."

 

Read more: http://www.businessinsider.com/china-african-barrick-gold-2012-8#ixzz23pIuTX62

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

A Few Minutes With Peter Grandich - August 16, 2012

Episode 49 - A weekly discussion with one of the most respected market forecasters. Peter Grandich has accurately predicted market tops and bottoms for over 20 years and he also shares his views on commodities, currencies, politics and life.

 

He discusses the stockmarket and gold.

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

Goldman Non-Prosecution: AG Eric Holder Has No Balls | Matt Taibbi | Rolling Stone

Goldman Non-Prosecution: AG Eric Holder Has No Balls | Matt Taibbi | Rolling Stone | Gold and What Moves it. | Scoop.it

Matt Taibbi writes:

 

"... As one high-profile attorney currently working on a closely-watched case involving a Wall Street bank put it to me yesterday: “With these Justice guys, everything the Wall Street lawyers say makes perfect sense to them, no matter how dumb it is.”

 

"You can almost feel the relief emanating from Washington when these prosecutors decide against matching wits with the wizened 60 year-old legal Sith Lords from Harvard and Yale who’ve seen everything, know every judge by his or her first name, and in a trial would be basically bringing absolutely everything a lawyer can bring to the table, except consciences of course.

 

"It’s political, sure, these decisions not to go after the Goldmans of the world, but more than that what usually rules the day is just pure intellectual fear – appropriate in many cases, since any prosecutor who buys for a second any of the high-priced excuses being shoveled at them from corporate defense firms like Davis Polk or criminal defense mercenaries like Reid Weingarten (retained to defend Blankfein against possible criminal charges) probably really is no match, intellectually, for Wall Street’s lawyers. ..."

 

Read more: http://www.rollingstone.com/politics/blogs/taibblog/ag-eric-holder-has-no-balls-20120815#ixzz23oxS2w82

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

The Fiat World - The Dollar Vigilante Blog -

The Fiat World - The Dollar Vigilante Blog - | Gold and What Moves it. | Scoop.it

Jeff Berwick writes:

 

"... the very fact that all the gold is gone from backing all the currencies - and even from the Olympic medals - and that people think gold colored plastic credit cards are actually something with which to impress others... are signs that we are nearing The End Of The Monetary System As We Know It (TEOTMSAWKI)."

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

The Charlie Sheen US Treasury | The Daily Gold

59% of US Debt matures within the next three years. That means it must be refinanced. Our current average interest rate on the debt is 2%. If that rose by 1% then our deficit would rise by 10%.

 

click over for the video and charts

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

With Gold & Silver, Why Does the General Population Consistently Get the “Buy Low, Sell High” Mantra Backwards?

by JS Kim:

 

"To successfully keep your head above water during this economic crisis, it is not an option, but a necessity to convert your fiat digital currency into something tangible and real like physical gold and physical silver. To be successful in this game, one must understand the paradigm in which these two precious metals operate. The reasons why interest is so incredibly low in buying gold and silver among the general masses when they are screaming bargains, and why the general populace’s interest in PMs only perk up after prices have moved much higher, or worse yet, never at all, is a testament to the disinformation campaign waged by the bankers against the people. Many among the general populace still fail to understand that when banksters create fraudulent futures markets backed by a woefully small percent of physical metals to control paper prices of gold and silver, the dynamics of this fake market vastly differ from the dynamics of the tangible real physical gold and silver market. Furthermore, and more importantly, the general masses fail to realize that the negative perception of gold and silver prices the banksters create through their false paper markets will ultimately fail when confronted by the reality of tighter and tighter physical supplies of gold and silver. People often make critical mistakes when buying gold and silver because they do not take the time to learn the bankster-manipulated paradigm in which both of these PM operate. Thus they enter the game blindly, merely following the advice of talking head puppets on television, engaging in the absolute worst form of decision-making possible.

 

"The general populace misinterprets volatile short-term corrections as confirmation that banker trolls calling for a gold and silver bubble popping were correct, even though long-term charts below demonstrate no evidence of a bubble. Gold and silver bubbles will form in the future due to the deliberate Central Banker campaign to destroy fiat currency valuations, but we are not remotely close to either a bubble in gold or silver yet. However, a complete collapse of the Euro, the USD, or some currently bankrupt international bank that is fudging its balance sheet, could definitely condense the timeframe to a gold and silver bubble. Today, banksters continue to steer their misinformed clients away from gold and silver and into ..."

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

China Goes For The Gold As Huge Investment In African Miner Seen Likely

China Goes For The Gold As Huge Investment In African Miner Seen Likely | Gold and What Moves it. | Scoop.it

By ELEAZAR DAVID MELÉNDEZ:

 

"China may have lost out in its dash to get the most gold at the London Olympics this summer, but the country is seemingly still running the race for gold where it counts.

 

"According to the Financial Times, state-owned China National Gold is bidding for a majority stake in African Barrick Gold PLC, a stake now held by Canadian gold miner Barrick Gold Corporation (NYSE:ABX), the world's largest producer of the yellow specie. The move is widely seen as an attempt by the government-sanctioned Chinese mining industry to go head-first into gold mining in Africa.

 

"Chinese companies have aggressively bid up African natural resource extraction projects in the past few years, in a government- blessed strategy to ensure the mineral-hungry Asian nation has future access to supplies. According to global intelligence firm Stratfor, Chinese companies have pledged to invest $101 billion in Chinese projects since 2010, of which 90 percent has been in mineral extraction and construction. ..."

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

Twitter / fuTuRe_sHOcK: General Motors Is Headed For ...

Instantly connect to what's most important to you. Follow your friends, experts, favorite celebrities, and breaking news.
more...
No comment yet.
Scooped by Hal
Scoop.it!

Twitter / awolam: Oil & Gold Update>> ...

Oil & Gold Update>> Gold "Trapped in Range", Central Bank Gold Buying Sets New Record in Q2 http://t.co/cUMHyOCU
Aug 16 via web Favorite Retweet Reply

Instantly connect to what's most important to you. Follow your friends, experts, favorite celebrities, and breaking news.
more...
No comment yet.
Scooped by Hal
Scoop.it!

"Gold is a political metal" Bill Buckler

"Gold is a political metal" Bill Buckler | Gold and What Moves it. | Scoop.it
A weekly commentary on Gold, complete with daily and weekly bar charts, price, volume and open interest data, and daily trading summary.

 

"In any discussion of the future of Gold, or of the price of Gold, the first thing that must be realized is that Gold is a political metal. In the true meaning of the word, its price is "governed".

 

"This is so for the very simple reason that Gold in its historical role as a currency is fundamentally incompatible with the modern worldwide financial system.

 

"Up until August 15, 1971, there has never in history been an era when no paper currency was linked to Gold. The history of money is replete with instances of coin clipping, printing, debt defaults, and the other attendant ills of currency debasement. In all other eras of history, people could always escape to other currencies, whose Gold backing remained intact. But since 1971, there is no escape because no paper currency has any link to Gold.

 

"All of the economic, monetary, and financial upheaval of the past 30 years is a direct result of this fact.

 

"The global paper currency system is very young. It depends for its continued functioning on the belief that the debt upon which it is based will, someday, be repaid. The one thing, above all others, that could shake that faith, and therefore the foundations of the modern financial system itself, is a rise (especially a sharp rise) in the U.S. Dollar price of Gold. ..." Bill Buckler, Gold This Week.

 

hat tip to Ed Steer at http://www.caseyresearch.com/gsd/edition/41-years-after-death-gold-standard-look-how-we-ended-economic-purgatory#

 

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

Richard Russell - Get Ready For Massive QE3 & Epic Inflation

Richard Russell - Get Ready For Massive QE3 & Epic Inflation | Gold and What Moves it. | Scoop.it

Today the Godfather of newsletter writers, Richard Russell, wrote a special report stating that a massive QE3 is now headed our way, along with epic inflation. He also covered gold. Here is what Russell had to say: “There's nowhere to hide. Governments will opt for their favorite remedy -- inflation. Inflate away the debt. Problem -- a little QE3 won't help, if the Fed really wants to jazz up the economy, it will have to be a massive QE3.

 

“The only investment secret is what comes next?

 

"Next -- it's gold's turn to move to the forefront. If gold starts to move, and it is moving a bit, then the beaten down gold mining stocks should start heading North. The two ETFs  ..."

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

Get Ready, Gold Bears To Be Crushed & Silver To Catch Fire

Get Ready, Gold Bears To Be Crushed & Silver To Catch Fire | Gold and What Moves it. | Scoop.it

Dan Norcini tells King World News:

 

“There are increasing fears about price increases. We may be getting away from the deflationary scenario, and the very real fears of slowing global growth, to what’s going on with prices now. If food and energy prices head higher, along with bond yields, that signals a shift, finally, to the onset of significant inflation.

 

"If that turns out to be the case, investors will need to keep an eye on silver. Silver will actually lead gold higher in that environment. We could very well see silver ignite to the upside. And of course gold will have a strong response as well.

 

"This is the type of scenario that can take both the gold and silver markets right out of these long consolidations and into a trending move to the upside. The first thing we need to see is a strong weekly close on gold above the $1,640 level.

 

"Above $1,640 you are going to see a great deal of ..."

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

Prepare for US and Euro Financial Collapse: The Next One will be the Big One | Greg Hunter’s USAWatchdog

Prepare for US and Euro Financial Collapse: The Next One will be the Big One | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it

By Greg Hunter’s USAWatchdog.com

 

"I don’t see how anyone could say the financial system is stable. The facts say it is anything but well-balanced and steady. The Western world is in crisis with Europe leading the way over the financial cliff. Pick a country in the EU. France, Greece, Spain or Italy are all capable of causing the next financial panic. I can’t tell you how many times I’ve heard or read the word “collapse” in reporting on this spiraling financial crisis. On Monday, German media giant Der Spiegel ran a headline that read “Investors Prepare for Euro Collapse.” The story said, “Banks, companies and investors are preparing themselves for a collapse of the euro. Cross-border bank lending is falling, asset managers are shunning Europe and money is flowing into German real estate and bonds. The euro remains stable against the dollar because America has debt problems too. But unlike the euro, the dollar’s structure isn’t in doubt.” (Click here for the complete Der Spiegel post.) If the Euro goes down, the dollar will follow probably after a short spike. This is just one of many recent examples of the fragility of the financial system.

 

"There is too much debt and not enough growth or taxes to service it. It’s the same problem almost everywhere on the planet. Governments are just printing money to try and make the problem go away. Egon von Greyerz, founder of Matterhorn Asset Management ($5 billion in assets), said this week, “This is why money printing is guaranteed in Europe, the US, UK and Japan. History teaches us that a nation which runs large deficits and increasing debts could never create wealth in the long-run. Wealth has never been created by printing money, and this time, like it has before, it will lead to a financial crash. This time the financial crash will be of a worldwide magnitude.”

..."

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

The Gold Market May Stun Participants With A Move To $6,300

The Gold Market May Stun Participants With A Move To $6,300 | Gold and What Moves it. | Scoop.it

Tom Fitzpatrick gives King World News some analysis on Gold:

 

"... Gold still remains above the supports in the $1,520 area which the market has tested three times over the past year. The parallel of the trend across the highs also comes in here (currently at $1,532). The first resistance level to watch is $1,665 which is the trend line down from the highs and a rally through there would amount to at least a short term bullish break (see chart below).

 

"Important resistance above there is at $1,790-$1,802 which marks the double (or triple) bottom neckline and a breach of that opens the way for new trend highs (see chart below). The price action here reminds us of what was seen in 2006 after Gold corrected down from $730 to $542 (a more aggressive correction then in percentage terms than the one seen since last year’s high). The market spent a long time consolidating but ultimately rallied to new trend highs in the second half of 2007 (as the credit and banking crisis worsened). ..."

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

Gold & Continued Loss Of Confidence In The Financial System

Gold & Continued Loss Of Confidence In The Financial System | Gold and What Moves it. | Scoop.it

With the recent surge in gold, silver, and the mining shares, today King World News interviewed 25 year veteran Caesar Bryan over at Gabelli & Company, which has over $31 billion under management. Here is what Ceasar had to say regarding a continued loss of confidence in the financial system: “Yesterday marked the 41st anniversary of the US coming off the gold standard, thus severing the ties of the US dollar to gold. We get caught up in the day to day ebbs and flows of financial markets, but sometimes you need to take a step back and realize we are 41 years into a monetary experiment without precedent.”

 

“What has happened slowly, over that 41 year period, is we have built up a massive debt to the point where confidence in monetary authorities has been eroded. Central banks and investors around the world are now coming back to gold. So we need to remember that this is a secular move back into gold.

 

"This gold bull market is going to last a while, and we are in the early innings. ..."

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

oftwominds-Charles Hugh Smith: We Are All Muppets Now

oftwominds-Charles Hugh Smith: We Are All Muppets Now | Gold and What Moves it. | Scoop.it

Charles Hugh Smith writes a piece worth reading. Here's the opening, be sure to click through for the rest:

 

"Every participant in the manipulated, rigged stock market is now a muppet.

 

"Just as President Richard Nixon signaled his embrace of endless fiscal stimulus and bottomless deficits by declaring "We are all Keynesians now," it is now apparent that we are all muppets now, willing participants in a fraudulent, manipulated market in the hopes that we will skim the same outsized gains reaped by the manipulators. ..."

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

oftwominds-Charles Hugh Smith: Financialization's Self-Destruct Sequence

oftwominds-Charles Hugh Smith: Financialization's Self-Destruct Sequence | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"... there is another dynamic at play: a self-destruct sequence triggered by central bank and Central State efforts to reflate asset and credit/leverage bubbles. All central bank and State policies aimed at driving capital into risk assets boil down to reflating phantom assets purchased with debt by issuing more debt that is based on newly issued phantom assets.

 

"Phantom assets purchased with debt cannot be reflated by issuing more debt that is based on newly issued phantom assets. Piling more debt/leverage on a sandpile of phantom assets (CDS, bonds that cannot possibly be paid back, empty condos in the middle of nowhere, etc.) only heightens the probability that the unstable pile will collapse.

The implicit Central Planning campaign to trigger "mild" inflation is part of the self-destruct sequence. Central planners metaphorically fight the last war, or at best the last two wars, and so they remain blind to any dynamics that did not exist in their case studies.


"In the 1970s, central bank easing and Central State stimulus sparked a nasty bout of accelerating inflation. This reduced the weight of debt because wages inflated along with goods and ..."

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

Greyerz - Expect Massive Short Covering In Gold Within Weeks

Greyerz - Expect Massive Short Covering In Gold Within Weeks | Gold and What Moves it. | Scoop.it

Egon von Greyerz tells King World News:

 

“... I think the paper shorts in gold and silver are going to have real problems. The short covering during the next few weeks and during this autumn is going to be massive. The mining stocks are just going to explode once this (market) turns because they are at ridiculously low levels.

 

"I think investors should prepare themselves for a tumultuous autumn, and they should take the measures they need to in order to preserve their wealth. This is going to be the start of a very long period of deterioration of the economy, and the destruction of paper money. So investors should hold on (for the ride).”

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

Chris Martenson: What to do when every market is manipulated | Gold Anti-Trust Action Committee

Chris Martenson: What to do when every market is manipulated | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

by GATA:

 

"Market analyst Chris Martenson today asks what investors can do when all markets are manipulated or outright frauds. About the gold market he writes:

 

"One of the prime reasons that I support the notion that the price of gold is neither free nor fair is that I think there is an incentive for the U.S. and U.K. central banks (and the others too) to have no serious questions raised about fiat money. Gold is the only monetary barometer that exists outside of the world of fiat money.

 

"If the Fed was willing to look the other way while banks colluded to keep LIBOR artificially low because that sent the 'right' signal about bank health and boosted profits, do you really think they would not also look the other way if banks could make money by manipulating the gold market into a more stable or even lower price band than it otherwise might occupy?

 

"To me, it is a given that the Fed, et al., would condone literally any and all activities that would boost the apparent health of major banks (their prime clients) and the apparent health of fiat money (their only product). Said more directly, it is unthinkable that they do not have gold squarely in their sights on a daily basis.

 

"The second point I want to make about gold is that with every revelation of fraud and/or price manipulation, I grow more convinced that gold should play an increasing role as an anchor to your portfolio. ..."

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

National Weather Service “ammunition” solicitation triggers confusion

National Weather Service “ammunition” solicitation triggers confusion | Gold and What Moves it. | Scoop.it
Weather forecasting or preparing for war? The National Weather Service (NWS) seeks to buy 46,000 rounds of ammunition for semiautomatic pistols says the FedBizOpps website.

 

by Jason Samenow:

 

"UPDATE, 1:07 p.m.: NOAA says there was a “clerical error” in the FedBizOpps announcement stating the NWS required ammunition. The solicitation actually originated from the “NOAA Fisheries Office of Law Enforcement” not the National Weather Service. See bottom of post for more details.

 

"Original post: Weather forecasting or preparing for war? The National Weather Service (NWS) seeks to buy 46,000 rounds of ammunition for semiautomatic pistols says the FedBizOpps website. It’s a solicitation head-scratcher of explosive proportions. ..."

 

Ah, huh... Anyone still confused? How about worried?

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

Gold Investment Demand And India, China Demand Down; Central Bank Demand Doubles | ZeroHedge

Gold Investment Demand And India, China Demand Down; Central Bank Demand Doubles | ZeroHedge | Gold and What Moves it. | Scoop.it

Posted on www.zerohedge.com by Tyler Durden:

 

"... The World Gold Council released its quarterly report today, Q2 2012 Gold Demand Trends Report and can be read in full on the World Gold Council website here.

 

"Accumulation of gold bullion from central banks was the bright spot in demand last quarter, as total demand fell 7% globally, which was driven by a 38% fall in consumer demand from India.

 

"Price sensitive Indians have been shunning gold and many have been opting for far cheaper poor man’s gold – silver.

 

"Jewellery and investment demand both fell. Jewellery consumption was down 72.3 tonnes at 418.3 tonnes, while investment fell 88.3 tonnes to 302 tonnes.

 

"The report shows how while record levels of demand from western markets, China and particularly India have been followed by a decline – the seismic shift that is central banks going from being bet sellers to net buyers has provided a new fundamental pillar of support for the gold market.

 

"Physical demand slowed down in western markets and especially in India in recent months but large buyers continue to accumulate - both hedge funds and central banks and this is providing fundamental support to gold above the $1500 to $1,600/oz level.

 

"2Q total central bank gold purchases were double the level reported a year ago as emerging market sovereign nations sought to diversify away from the dollar and euro and heightened economic insecurity.

 

"Gold purchases among central banks hit its highest quarterly levels (157.5 metric tons) since the sector became a net buyer of the yellow metal in 2Q 2009. ..."

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

Gold and silver in short supply and highly leveraged in currency war

Gold and silver in short supply and highly leveraged in currency war | Gold and What Moves it. | Scoop.it

JT Long reports:

 

"Ron Struthers* has crunched the numbers and his indicators have him thinking we will soon see gold move easily above $2,000/oz, taking silver higher with it. Interview with The Gold report."

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

Police open fire on Lonmin strikers; reports of 7 dead

Police open fire on Lonmin strikers; reports of 7 dead | Gold and What Moves it. | Scoop.it

Malcolm Rees writes:

 

JOHANNESBURG -

 

"SAPS have moved in on the 2000-3000 "heavily" armed strikers camped outside of the Lonmin mining complex in Marikana, Rustenburg. Twitter reports and Reuters indicate that rubber bullets and teargas have been fired at the crowd.

 

"One Reuters tweeter reports seeing bodies strewn on the ground. SAPS however were unwilling to confirm whether a manouver has taken place. SAPS Captain Dennis Adriao toldMoneyweb, "I am not going to be able to say anything at this stage ... I am just trying to get details."

 

"Earlier Adriao said, "We have tried over a number of days to negotiate with the leaders and with the gathering here at the mine, our objective is to get the people to surrender their weapons and to disperse peacefully."

 

"Today is D-day in terms of if they don't comply then we will have to act ... we will have to take steps," he said.

 

"The strikers, believed to be mostly rock-drillers employed by Lonmin, have been camping on a koppie just outside of Marikana Township since Tuesday, vowing not to move until their wage demands are met. ..."

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

Ask The Expert - David Morgan [Part 2/4] - Sprott Money News

Sprott Money News is proud to present Ask The Expert. In this exclusive interview, David Morgan answers questions from our readers about the gold and silver ...
more...
No comment yet.
Scooped by Hal
Scoop.it!

Doug Casey The type of person who gets into politics is naturally a busybody - Casey Research

Will stricter gun-control laws in the wake of recent mass shootings invite more massacres?

 

Doug Casey discussed gun control in his latest interview on his site but I found this particularly interesting as it applies to more than just gun control:

 

"... The type of person who gets into politics is naturally a busybody who thinks he knows what's best for everyone else and is anxious to enforce his opinions using the state. Historically, one of the main differences between a slave and a free man has always been that a free man has the right to own weapons and defend himself. The average person the world over – absolutely including the US – has devolved into little better than a slave. He thinks he's free because he has a relatively high standard of living, but he's not much more than a lapdog who does as he's told. And he better not even growl, much less try to defend himself, or his masters will lock him in a cage. ..."

more...
No comment yet.