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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This Is The Year The Chinese Let Gold & Silver Prices Fly

This Is The Year The Chinese Let Gold & Silver Prices Fly | Gold and What Moves it. | Scoop.it

Today acclaimed money manager Stephen Leeb told King World News this is going to be the year in which the Chinese really begin to let gold and silver prices fly.  He also believes that when the Chinese eventually have gold underlying their currency the game is over.  Here is what Leeb had to say:  “I believe that gold, silver, gold stocks, and silver stocks especially, because they are so scarce, are an exceptionally good place to be.  The only way individuals can protect themselves at this point is through purchases of precious metals.

 

“What more could you want than a quote from the Finance Minister of Japan, Taro Aso, ‘Foreign countries have no right to lecture us ... The US should have a stronger dollar.’  And he questions whether a major group of 20 nations have stuck to pledges from 2009, to avoid competitive currency devaluations.

 

Of course they haven’t stuck to those pledges.  We can’t get our currency low enough....

Hal's insight:

It will be interesting if they do. I'm not so sure, but Leeb is certainly better positioned than I am. The question is, which central bank is best positioned with the greatest quantity of the stuff?

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Tom Luongo's comment, January 2, 2013 3:38 PM
The E.C.B. is the short answer, Hal. Both of them want Gold to thrive going forward.
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2013: The Year the Chickens Come Home to Roost – Market, Economic, Social, Political and Life Commentary by Peter Grandich

2013: The Year the Chickens Come Home to Roost – Market, Economic, Social, Political and Life Commentary by Peter Grandich | Gold and What Moves it. | Scoop.it

TWO THOUSAND THIRTEEN will mark my 30th year in and around the financial arena. Besides asking where the time went, I think the only question on my mind is this: Will 2013 be the year the chickens come home to roost? In my mind, it’s not if economic, social, political and spiritual upheaval hits, but when? In a country that has been robbing Peter to pay Paul (and Peter’s broke) and has undone many of the principles our Founding Fathers built this once-great nation on, my heart says I hope I’m wrong…but my brain knows it’s right.

 

While our troubles certainly began many years ago, I truly believe the straw that broke the camel’s back was election night, 2012. The virtues that once made this country great—self-reliance, hard work, entrepreneurship, individual liberty, responsibility, etc.—were voted out that evening. Instead, we now have a majority of Americans who happily rejected these long-held beliefs in favor of massive government control over their lives. Robbed of the incentive to achieve or even work, increasing numbers of Americans will turn to the government nipple.

Dan Norcini was spot on recently when he said:


“…We are witnessing a breakdown in ethics, virtue, and morality, as well as the loss of the sense of righteousness versus sin, and the blurring of the lines between good and evil that has marked the fall of every great civilization throughout history. ...

Hal's insight:

Click through for the rest of what Peter Grandich has to say. One of the sane folk out there.

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Buyers Beware: 12 Things That Will Be More Expensive In 2013

Buyers Beware: 12 Things That Will Be More Expensive In 2013 | Gold and What Moves it. | Scoop.it
Dealnews: While we like to focus on saving money and falling prices, it's important to recognize when certain items are, conversely, becoming more expensive.
Hal's insight:

Well, isn't this pleasant.

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Twitter / zerohedge: As a reminder, last week Obama ...

Hal's insight:

Amazing how easy it was for them to agree on this.

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Wrapping 2012

Wrapping 2012 | Gold and What Moves it. | Scoop.it

2012 is nearly over and it feels like it has been a tough and lousy year. And it has. But has it been that bad? Could it have been a lot worse? Damn straight it could have been.

 

As we entered 2012, silver had bounced off of $26 but was still only trading near $28. Gold had touched $1550 and was near $1570. There was no current, overt quantitative easing program, only Operation Twist, and we were just beginning an election year with all of the attendant MOPE and SPIN regarding an economic recovery. Things looked pretty darn bleak.

 

Of course, we know what happened next. The metals rallied through January and February. They swooned until August and then rallied again into October before being beaten back again. It was all painful to watch and very little fun to write about...BUT...the metals have eked out a gain this year. Gold is UP nearly $100 and silver is up $2 or about 7% each. Again, I'm not trying to slather lipstick on the proverbial pig here but...given all of the things we faced in 2012...that's not too shabby and, as we head into 2013, the situation looks almost entirely different.

 

The U.S. economy is dragging along the bottom. The U.S federal deficit and debt are growing hopelessly out of control and the country's credit rating is poised to be downgraded again sometime very soon. Global central banks are accumulating physical metal at an increasing pace and the Federal Reserve is openly printing $85B/month. My point is: If the metals can survive 2012 with all of the headwinds, how might they trade in 2013 with the wind at their back?

 

Exactly. ...

Hal's insight:

Click over for the rest of his post. 

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Guest Post: The Real 2013 Cliff | ZeroHedge

Guest Post: The Real 2013 Cliff | ZeroHedge | Gold and What Moves it. | Scoop.it

There’s a much bigger cliff than the so-called fiscal cliff. The absolute worst result of the fiscal cliff would be a moderate uniform tax increase at a bad time, resulting in a moderate contraction. It is an obvious - but ultimately rather cosmetic - stumbling block on the so-called “road to recovery”.

 

The much bigger cliff stems from the fact that the so-called recovery itself is build on nothing but sand. This is a result of underlying systemic fragilities that have never been allowed to break. ...

Hal's insight:

Can't say as I disagree with that. In fact, I've kind of been saying that myself. The fundementals haven't changed.

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The top 10 most bizarre uses for gold | MINING.com

The top 10 most bizarre uses for gold | MINING.com | Gold and What Moves it. | Scoop.it
We all know that gold is not always used for monetary purposes or in jewellery. What most of us may have never imaged, however, is to find gold in one of the following quite unusual products launched this year.
Hal's insight:

There are some really strange things here.

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Festive season saw 'unimaginable' buying of precious bullion by public | MINING.com

Festive season saw 'unimaginable' buying of precious bullion by public | MINING.com | Gold and What Moves it. | Scoop.it

Marc Howe writes:

 

The president of one of America's oldest precious bullion dealers says retail investors purchased gold and silver in unprecedented volumes during the Christmas holiday period

 

The president of one of America's oldest precious bullion dealers says retail investors purchased gold and silver in unprecedented volumes during the Christmas holiday period.

 

Bill Haynes, president of CMI Gold & Silver told King World News that the Arizona bullion veteran did more business during the 3 day holiday week than during any single week in years, with one purchaser spending $6.8 million on a single transaction.

 

Haynes says fear of economic upheaval in ...

Hal's insight:

Now that is some food for thought.

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Charles Hugh Smith: Doing Good, Doing Well

Charles Hugh Smith: Doing Good, Doing Well | Gold and What Moves it. | Scoop.it

If we define "doing well" as having excess income and wealth to spend on gratification, we have defined the wellspring of discontent.


There is an old and bitter maxim that describes the missionaries who sailed to Hawaii in the early-1800s: "They came to do good and stayed to do well." Is it easier to "get rich" than to do good? Does "doing well" create fulfillment or just an ephemeral gratification? Is it possible to "do good" and "do well" at the same time, or is the "to get rich is glorious," wealth-is-good mindset a self-serving illusion?

These questions help me crystallize one purpose of my work on the blog and in my books, which is to re-integrate meaning, work, happiness and our marketing-consumerist culture and economy. In general, we assume (with much nudging) that wealth and happiness are tightly correlated, i.e. getting rich will deliver greater happiness just as a matter of causality. We are also pounded to believe that doing well will magically create a greater good--something every hedge fund manager pulling down $600 million annually wants to believe.

Yet studies find the correlation of wealth to happiness to be far weaker than generally assumed. ...
Hal's insight:

Charles Hugh Smith is a thinker. That is for sure.

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John Mauldin - The Financial Crisis In 2013 Will Be A Debacle

John Mauldin - The Financial Crisis In 2013 Will Be A Debacle | Gold and What Moves it. | Scoop.it

In this second portion of his remarkable interview, today John Mauldin told King World News we are once again headed for a financial crisis in 2013.  Mauldin, who is President of Millennium Wave Securities, laid out exactly what will cause the crisis to erupt in 2013 so that KWN readers globally can prepare. 

 

Eric King:  “John, we’ve been in this ongoing sort of rolling financial crisis that flares up from time to time, but inside of this Japan is going to be recognized as the basket case it really is.  It’s a little bit frightening because of some of the problems we’ve already been seeing.  How bad will this be as this starts to unfold for the financial markets globally?”

 

Mauldin:  “It’s going to be very difficult because unlike Greece, Japan makes a difference.  Japan’s banks fund a lot of Asia.  The money that’s been flowing into Japan for the last decade, but especially the last few years, is now going to have to figure out how to get out....

Hal's insight:

Something interesting thoughts here on Japan and France and the monies that flow through them.

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Eric De Groot: Gold and The Invisible Hand Follow TIME Updated

Eric De Groot: Gold and The Invisible Hand Follow TIME Updated | Gold and What Moves it. | Scoop.it

... The West by attempting to contain the uncontainable (market forces) is pushing on a string tied to gold. Investment propaganda and the lure of easy explanations have many believing that the string can be cut, or better yet, no longer exists.

For years I have watched the invisible hand abuse the public, community, trading funds, and computer algorithms on a cyclical basis in gold and silver paper markets. In many ways, the ABCD count system illustrates this cycle of abuse.

Gold investors scared to death by the previous D-wave decline are beginning to embrace any opinion that suggests ...

Hal's insight:

"Pushing on a string tied to gold." - Love it.

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Glory Days, Made Again In America | Richard Mills | Safehaven.com

Glory Days, Made Again In America | Richard Mills | Safehaven.com | Gold and What Moves it. | Scoop.it
Real new wealth, and an economic superpower, are only created when a countries resources are used to manufacture goods to sell at home and abroad - when a countries natural resources are used to provide solid long term high paying jobs.

 

... America depends upon overseas suppliers for over 80 percent of its most important critical minerals.

 

"The United States is the world's third largest Copper producer, yet a 2010 MIT study by Elisa Alonso notes that the risk of Copper disruption is significantly greater than for other major metals, and is at or near an historical high. The Office of the Secretary of Defense lists Copper as a metal that has, "[Already] caused some kind of weapon production delay for the DoD." *Copper is also the primary metal for other strategic and critical metals highlighted in this report. Significant amounts of Molybdenum, Rhenium (nearly 75% of world's production), Tellurium and Selenium (95% of world's production) come from Copper mining and refining. Copper shortages will trigger companion shortages in these metals as well. We highlight this to further demonstrate the shortsightedness of targeting metals based entirely on stand-alone percentages." ~ The American Resources Policy Network report, "Assessing Risk: Critical Metals and National Security ...

Hal's insight:

This is a fascinating read to me. I don't think it'll happen though. We've a government set against such things and a segment of the population as well. Not only that but China holds us captive in a some ways.

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Major Greek banks ask for 27.4 billion euro — RT

Major Greek banks ask for 27.4 billion euro — RT | Gold and What Moves it. | Scoop.it

Greece's four largest banks need an additional €27.4 billion to overcome the losses from the country’s 200bn euro debt restructuring earlier this year.

 

On Friday the National Bank of Greece said it will need a €9.7bn capital boost while Eurobank Ergasias needs 5.8bn euro. Alpha Bank needs 4.6bn euro and Piraeus Bank 7.3bn euro, according to the report by the Bank of Greece 

 

As the country heads toward a sixth year of recession, the major banks reported growing losses on rising bad loans and falling deposit levels. NBG reported a nine-month loss of 2.45bn euro, compared to 1.34bn loss year-on-year. Alpha Bank said its loss for nine months reached 711.8mn euro, up from 566.7mn last year. 

 

The Greece’s Central bank said it will set aside 50bn euro from the second 173bn bailout package from international creditors in order to use it for a bank recapitalization plan. “It is expected to remain adequate under reasonable levels of economic uncertainty,” the lender said in a statement. ...

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Eric De Groot: Those That Understand And Control Gold Make The Rules

Eric De Groot: Those That Understand And Control Gold Make The Rules | Gold and What Moves it. | Scoop.it

Longest streak since 1920?  Investors using MSM to better understand gold don't stance a chance.  I've labeled the statistically significant spikes since 1860.  Even the casual, armchair historian understands ...

Hal's insight:

Click over for the full piece and large chart.

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Silver Price Analysis 2nd Jan 2013

Silver Price Analysis 2nd Jan 2013 | Gold and What Moves it. | Scoop.it

Having ended 2012 in congestion ahead of the fiscal cliff drama, silver has started 2013 in positive mood, opening the floor trading session gapped up at 31.17 per ounce and clearly picking up the bullish tone of equities.  The question now, of course, is whether this is merely a temporary reaction or potentially the start of a new trend higher for the metal as the tone for silver has been firmly bearish, as for gold, since mid December.   This negative sentiment was given a further boost following the break below the 32.50 per ounce level which saw the metal break below the solid support in this price zone – which is now resistance.

 

The volume indicators are particularly revealing in that volume has been declining on the daily chart for much of December, suggesting that selling pressure was easing and signalling a possible slow down in the bearish sentiment, as a result.  With both price action and volumes declining this is a potential signal of ...

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PRECIOUS-Gold up 6 pct in 2012; rallies late on US fiscal deal

PRECIOUS-Gold up 6 pct in 2012; rallies late on US fiscal deal | Gold and What Moves it. | Scoop.it
* Gold up for a 12th straight year, more gains seen in 2013 * Palladium, platinum and silver outperform bullion though (Updates throughout with tentative US fiscal deal and close ingold futures; changes ...
Hal's insight:

Rallied because it no doubt knows how good that fiscal deal is. hehe.

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El-Erian: 'New Normal' Is Low Growth, Few Jobs

El-Erian: 'New Normal' Is Low Growth, Few Jobs | Gold and What Moves it. | Scoop.it
Due to the "dysfunction and polarization" in Washington, the U.S. economy faces a prolonged weak economic outlook, Pimco's Mohamed El-Erian told CNBC.
Hal's insight:

Dysfunctional and polarization are words that don't go far enough to describe what's going on in DC.

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Chinese Think Tank: "Conflict With Japan Inevitable" | ZeroHedge

Shinzo Abe's re-election on the basis of his monetary policy aggression plans have sent the JPY reeling (as he hoped for) and the NKY soaring - but it is his more aggressive perspective on patriotism that could lead to far greater problems. As the Chinese Academy of Social Sciences recently noted,all eyes are fixed on Abe as "Japan’s nationalization of the Diaoyu Islands destroyed the framework for keeping a balance, which means ‘shelving a conflict'," a Chinese diplomatic source said, adding that "China has no political methods to return the situation to the (pre-nationalization) state. Therefore, there are no other ways except for looking for a new framework." As a precondition for establishing the framework, an executive of the think tank said, "Prime Minister Shinzo Abe should not take actions that heighten the tensions further. It is the same as a game of go. If Japan escalates the conflict, China will be prepared to respond to the move." As a result, Japan-China relations will enter into a highly volatile period, ruining any hope of a resurgence in Japan's real economy, and more worryingly, the think-tank concludes, China's conflict with Japan is inevitable.

Hal's insight:

Food for thought. And it doesn't taste well.

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2013 Economic and Financial Market Forecast « The Financial Physician

2013 Economic and Financial Market Forecast « The Financial Physician | Gold and What Moves it. | Scoop.it

Gold and Silver:


The gold and silver market is like no other market in the world. No other market trades like precious metals. Gold and Silver are paper currency alternatives and as such are heavily manipulated by Central Banks, The Exchange Stabilization Fund and Bullion Banks. After the Fed announced QE4 in early December, the “Gold Cartel” went to work to reduce the price of gold and silver. While one would think gold and silver would rise given the Fed printing $85 billion a month gold actually dropped over $100/ounce in late December and silver was hammered even more on a percent basis. Gold and silver will still close 2012 with a small gain making it 11 years as the bull market continues.

 

I expect 2013 to be the year when gold and silver soar to amazing heights as the wheels come of the dollar and inflation begins to rear it’s ugly head. Gold closes 2012 at around $1,650/ounce while silver ends 2012 at $30/ounce. The cartel’s takedown of gold and silver in December is a gift from God himself for those who are under exposed to precious metals, which is virtually everyone. Although gold and silver may decline a little bit more before resuming their uptrends, 2013 will be known as the year that precious metals outperformed every asset class.

 

I expect gold to rise to at least $2,200 (+ 33%) in 2013 silver will go up even more on a percentage basis to at least $45/ounce (+50%). I fear that my forecast may be too low for gold and silver.


Bottom line; You must have some gold and silver in your life, it is financial life insurance.

Hal's insight:

Click through for the other financial areas the Doctor makes predictions about. Oil, Economy, Unemployment, Housing, Inflation

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Only in Dubai: Over half a million dollars and 13 Kg of gold as ‘shopping incentives’ | MINING.com

Only in Dubai: Over half a million dollars and 13 Kg of gold as ‘shopping incentives’ | MINING.com | Gold and What Moves it. | Scoop.it
The United Arab Emirates (UAE) city of Dubai, through its Gold and Jewellery association, has launched a gold promotion program that offer jewellery shoppers the chance to win 15kg of gold and cash prizes totalling $545,000 (2 million Dirham).
Hal's insight:

It amazes me how much money there is in this region.

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Man That First Spotted QE4 Now Says Gold To Break $10,000

Man That First Spotted QE4 Now Says Gold To Break $10,000 | Gold and What Moves it. | Scoop.it

Today the man that spotted QE4, before anyone else in the financial world, surprised King World News when he boldly predicted that gold will eventually trade above $10,000 an ounce.  Pento also warned that in the first half of 2013 Israel would attack Iran, sending oil prices skyrocketing to $170 a barrel. 

 

Here is what Michael Pento had to say in this extraordinary interview:  “The charade of independence between a government and their central bank is being shattered throughout the developed world.  Let’s just take a look at Shinzo Abe, and the Bank of Japan.  Abe comes in and he has a 2% target of inflation.  Right now inflation is negative in Japan.”

 

“So he (Japanese Prime Minister, Abe) has promised to declare a war on the Japanese middle class.  He has also declared a war on deflation and he is saying he is deliberately attacking the value of the yen and has a specific inflation target of at least 2%.

 

Now that sounds very familiar to what we have with Mario Draghi, and doing whatever it takes to control the entire bond market of Europe....

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The Bright Future of Gold: The Final Solution of the 2008 Monetary Crisis « Jim Sinclair's Mineset

Let’s keep things very simple:

 

1. The future of gold will not be determined by the USA.

 

2. The present manipulation in gold is purely Western, and any other thought is rank nonsense. This event is both short term and very short sighted in terms of people’s published analysis.

 

3. The triumvirate of Euroland, Russia and China will determine the future of gold as financial power has shifted from the West towards the East.

 

4. The strategy of the flushing of Lehman Brothers was to initiate a transfer of failed and to fail debt and debit, producing obligations in all forms from the balance sheets of international banks and investment banks onto the only entity that could mechanically accept them in infinite amounts, the balance sheet of Western central banks. To avoid a total and terminal collapse of Western finance, the US Fed had to take the entirety of the problem onto its balance sheet in exchange for newly created electronic bank wired funds. ...

Hal's insight:

Click through for the full list of 17 items.

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DGCX eyes spot Gold contract next year

DGCX sees a spot gold contract as particularly suitable for Dubai, an important global hub for physical gold trading.

 

DUBAI(BullionStreet): Middle East's largest commodity exchange, the Dubai Gold & Commodities Exchange (DGCX) is considering a spot gold contract from next year, reports Metal Bulletin.

 

“We are exploring a spot contract in Dubai to make it more relevant to the physical gold community and the physical gold trading activity in Dubai,” DGCX chief business officer Samir Shah told Metal Bulletin.

 

He said the DGCX sees a spot gold contract as particularly suitable for Dubai, an important global hub for physical gold trading.

 

Dubai is one of the largest trading centres for gold in the world. ...

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Americans for Tax Reform : $1 Trillion Obamacare Tax Hike Hitting on Jan. 1

Americans for Tax Reform : $1 Trillion Obamacare Tax Hike Hitting on Jan. 1 | Gold and What Moves it. | Scoop.it
On January 1, regardless of the outcome of fiscal cliff negotiations, Americans will be hit with a $1 trillion Obamacare tax hike.

 

Obamacare contains twenty new or higher taxes. Five of the taxes hit for the first time on January 1.  In total, Americans face a net $1 trillion tax hike for the years 2013-2022, according to the Congressional Budget Office.

 

The five major Obamacare taxes taking effect on January 1 are as follows:


The Obamacare Medical Device Tax:  Medical device manufacturers employ 409,000 people in 12,000 plants across the country. Obamacare imposes a new 2.3 percent excise tax on gross sales – even if the company does not earn a profit in a given year.  In addition to killing small business jobs and impacting research and development budgets, this will increase the cost of your health care – making everything from pacemakers to artificial hips more expensive.


Read more: http://atr.org/trillion-obamacare-tax-hike-hitting-jan-a7393#ixzz2GdjPijtm ;


Follow us: @taxreformer on Twitter

Hal's insight:

click through for the remaining four major items. Hat tip to www.drudgereport.com

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Russia signs $3bn arms deals with India — RT

Russia signs $3bn arms deals with India — RT | Gold and What Moves it. | Scoop.it

Russia will sell India military helicopters and military equipment worth about $3bn under a new agreement as bilateral trade might double to $20 by 2015.

Russian President Vladimir Putin and India’s PM Manmohan Singh signed a number of arms deals during Putin’s visit to Delhi, which include the supply of 71 military helicopters for $1.3bn and kits to assemble 42 Sukhoi jet fighters for a further $1.6bn.

 

India is currently the world's largest arms importer, and one of Russia's top clients for arms sales as Russian-made military equipment accounts for 70% of Indian weaponry.

 

Trade between Russia and India has been growing steadily and is expected to reach around $10bn dollars in 2012, up from $7.5bn in 2009, according to Indian official figures. Ahead of the visit, the Russia President called to increase bilateral trade to $20bn by 2015. ...

Hal's insight:

Do you suppose they will be using gold as a medium of exchange? Hmm... Russia has been adding to their horde for a while now and it is India. Just say'in.

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