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.
Curated by Hal
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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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RON PAUL RIPS THE NRA & LIBERAL DO-GOODER CONTROL FREAKS « The Burning Platform

By Kenneth T. Walsh

 

December 26, 2012

 

Rep. Ron Paul, not one to shy away from controversy, has blasted the National Rifle Association for proposing that every school hire armed guards to protect against mass shootings, and has also condemned liberals for promoting more government control of guns.

 

[ALSO: Ron Paul Rips Government in Last House Speech]

 

Referring to the massacre in Newtown, Conn., Paul said, “Predictably, the political left responded to the tragedy with emotional calls for increased gun control. This is understandable, but misguided. The impulse to have government ‘do something’ to protect us in the wake of national tragedies is reflexive and often well intentioned. Many Americans believe that if we simply pass the right laws, future horrors like the Sandy Hook Elementary shooting can be prevented. But this impulse ignores the self evident truth that criminals don’t obey laws. The political right, unfortunately, has fallen into the same trap in its calls for quick legislative solutions to gun violence. If only we put armed police or armed teachers in schools, we’re told, would-be school shooters would be dissuaded or stopped. While I certainly agree that more guns equals less crime and that private gun ownership prevents many shootings. I don’t agree that conservatives and libertarians should view government legislation, especially at the federal level, as the solution to violence.” ...

Hal's insight:

I agree. I'm going to miss Rep. Paul greatly.

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Notes From Underground: Policy Should Set Stock Prices. Imagine That

The ideas CNBC is spreading about the FISCAL CLIFF is just absurd. The addiction to higher stock prices has meant that a failure to get the equity market to rally due to falling off the“CLIFF” prevents quality policy from being attained. Going over the“CLIFF” will at least put spending front and center for we are all sure that taxes are going higher so the discussion must get to a genuine discussion about spending, and yes, that means serious cuts in the bloated defense sector. The FED‘s policy means that monetary policy will support the economy into the medium term and alleviate some of the pain from government spending cuts. It’s not drastic austerity but a realistic plan for dealing with rampant profligacy.

 

Many pundits and saltwater economists claim the global financial system is not worried about U.S. fiscal policy because the 10-year note yield continues to hover around 1.7%. This argument is preposterous because the price of U.S. debt is meaningless as long as the FED‘s continued QE and large-scale asset purchases (LSAP)continues to badly distort the market. The FED is now purchasing $85 billion a month in Treasury and MBS debt. When you couple that with the continued needs of insurance companies and pension funds, the pricing mechanism for DEBT is badly broken. To exemplify the issue, Bloomberg ran an article yesterday about ...

Hal's insight:

Click through for the rest. A good read.

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Milk prices to soar if Congress ignores farm bill

Milk prices to soar if Congress ignores farm bill | Gold and What Moves it. | Scoop.it
Santa, enjoy your milk now: Come January 1, it may cost $8 a gallon

 

by Lindsey Boerma:

 

But even if Boehner does decide to slip farm legislation into the "fiscal cliff" package, no single bill exists right now for the agriculture committees to offer: The House farm bill, approved by Lucas' committee in July, never made it through the GOP-controlled chamber, due primarily to disagreements over how deeply to cut food stamps. The Democratic-controlled Senate passed its version - the "Agriculture Reform, Food and Jobs Act of 2012" - in June.

 

It's a turf battle as much as a spending-cut war. Peanut and rice farmers back the House version, which proposes $35 billion in spending cuts, and replaces the current agriculture subsidy program with what is essentially a safety net, guaranteeing government payments if crop prices fall below a certain point; corn and soy farmers prefer the Senate bill, which proposes $23 billion in spending, and offers insurance when revenue from a crop is more than 11 percent below average.

 

One thing both chambers, and parties, agree on: Extending the 2008 law shouldn't be an option. Between having to scramble for additional funding for already-expired programs and extending payment for disaster assistance, which was significant this year following a prolonged Midwest drought, any temporary measure would cost more than a full five-year bill, without offering any spending cuts. But while Lucas, according to House Agriculture Committee spokesperson Tamara Hinton, remains devoted to getting a five-year bill ...

Hal's insight:

Congress shouldn't have this kind of power, folks. hat tip to www.jsmineset.com 

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Guest Post: Jobless Claims Not Translating Into Full-Time Jobs | ZeroHedge

Guest Post: Jobless Claims Not Translating Into Full-Time Jobs | ZeroHedge | Gold and What Moves it. | Scoop.it
While the decline in initial jobless claims from a historical perspective should be a positive for economic growth in the future - it is likely to only be the case if employers began to convert part-time employees to full-time hires.

 

... The chart goes to confirm my suspicion that corporations have likely reached their minimum employment levels to maintain current production levels.  This is a contributing factor to lower levels of initial jobless claims.   

 

However, just having fewer people terminated, and subsequently filing for a welfare program, does not answer the question related to whether or not the fall in claims is leading to full-time employment.  In order for the economy to begin organically growing (meaning without the artificial supports to the financial system and housing markets through government intervention) it will require an increase not just in the number of people working - but an increase in full-time employment to reduce welfare dependency and increase incomes. ...

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India to take more measures to curb Gold imports

Earlier, a leading Indian trade body said country's gold imports may fall to 550 tonnes next year from a peak of 967 tonnes in 2011.

 

NEW DELHI(BullionStreet): India would take further measures to control gold imports to contain the fiscal deficit, said finance minister P. Chidambaram.

 

Speaking at a function here he said government needs to continue efforts to contain gold imports which contributed $64 billion to the widening Current Account Deficit.

 

He said “Some measures may cause immediate pain but this was necessary to ensure that the fiscal deficit came down to 3 per cent in the next three years. Steps were also being taken to contain the Current Account Deficit.

 

India’s CAD is expected to touch 3.5 per cent of the GDP in the current fiscal. Chidambaram also lauded state governments for containing the fiscal deficit to 2.1 per cent of the GDP. ...

Hal's insight:

Rather weird to continue to see India trying to keep gold from coming into the country but then perhaps they find the idea of the people holding so much gold a bit of a threat to their central bank. ;-)

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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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16 Things About 2013 That Are Really Going To Stink

16 Things About 2013 That Are Really Going To Stink | Gold and What Moves it. | Scoop.it

The beginning of the year has traditionally been a time of optimism when we all look forward to the exciting things that are going to happen over the next 12 ...

 

... #1 Taxes Are Going To Go Up


#2 The Middle Class Is About To Be Scorched By The Alternative Minimum Tax ...

Hal's insight:

Click through for all 16.

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Gold Has Outperformed Housing By 600% Since 2001

Gold Has Outperformed Housing By 600% Since 2001 | Gold and What Moves it. | Scoop.it

Anyone predicting that gold would outperform housing in 2001 would likely have been viewed as being seriously deranged.  After all, housing prices had increased for decades and by the peak of the housing market in 2007, real estate was believed to be a "can't lose investment."  The mantra that housing values only go up proved to be disastrous for many Americans as the over-leveraged real estate market imploded, shattering the wealth dreams of both naive homeowners and investors.

 

Despite the trillions of dollars of direct support from ...

Hal's insight:

Click through for the other chart.

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Tom Luongo's curator insight, December 31, 2012 8:28 AM

In 2001, that is exactly what I said.  Gold would vastly outperform housing in the long term.  I was a neophyte back then and could see the market for what it was.  And yes I was called all manner of variations on 'seriously deranged.'

 

 

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The big 3-day engineered price sell-off in gold and silver - Ed Steer's Gold & Silver Daily

The big 3-day engineered price sell-off in gold and silver - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it
It's my opinion that the rallies in all four precious metals were met by short selling by JPMorgan et al.

 

Ed Steer:

 

"... With the big 3-day engineered price sell-off in gold and silver that took place between December 18-20 not in this data...along with the millions of ounces of silver deposited in SLV over that same time period...it's obvious that the shortsqueeze.com data would look a lot of different if they could take a snapshot right now.  As it stands at the moment, we'll have to wait until mid January.

 

"The other amazing thing that hasn't happened, is that there have been no major redemptions in either GLD or SLV since the current sell-off really got started on December 12th.  And now that I'm looking at the hard numbers, GLD has only shed about 19,000 ounces of gold ...and SLV has actually added 7.0 million ounces of silver during that same time period.  I'm only speculating at this point, but it looks like some entity is covering a monster short position that they may have in SLV...and GLD...and they were buying all the shares that others were selling into the engineered price decline that JPMorgan et al created in the first place.  But I'm sure that was all part of the plan.  ..."

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Class action motion filed against SA gold companies

Class action motion filed against SA gold companies | Gold and What Moves it. | Scoop.it

A South African lawyer has moved to file a Silicosis class action motion against over 30 gold firms on behalf of 17,000 former miners.


JOHANNESBURG (REUTERS) - 

 

A South African lawyer has moved to file a class action suit against over 30 gold firms on behalf of 17,000 former miners who say they contracted silicosis, a debilitating lung disease, due to negligence in health and safety.

 

The companies include third-largest global bullion producer AngloGold Ashanti, fourth-largest Gold Fields and Harmony Gold. Also named is Anglo American's South African unit, which owed gold assets in the past but no longer produces it.

 

Attorney Richard Spoor said on Friday he had filed last week for class certification for an action for damages in the South Gauteng High Court in Johannesburg. ...


Hal's insight:

This will ripple out and affect costs and prices in the future, no doubt.

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