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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Vietnam Bullion trade in disarray since new regulation

Analysts questioned this claims and said gold bar holders are having trouble finding a proper place to sell their precious metal.

 

HANOI(BullionStreet): Gold bullion trade in Vietnam continued to get affected as majority businesses were kicked out of gold trading market following the new regulation.

 

Analysts said more than eighty percent gold shops were banned from gold bullion transactions after failed to meet financial requirements necessary to maintain business after the implementation of the January 10 regulation.

 

However, country's central bank, State Bank of Vietnam claims that there are 2,500 facilities available countrywide, licensed to trade gold bullion, are enough to serve public need. ...

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SA Gold production dips 32.2% in Nov

Analysts said the impact of a wave of wildcat strikes that swept the sector last year remained and reflecting in the outcome.

 

JOHANNESBURG(BullionStreet): Former top gold producer, South Africa's production continued to fell [sic] on the impact of the illegal mine strikes last year.

 

Statistics South Africa said country's gold output fell by 32.2% in volume terms in November, while total mineral production rose 1.1% compared with the same month last year.

 

Production of non-gold minerals was 4.5% lower, Statistics South Africa said. Production of platinum group metals climbed 3% in November. ...

Hal's insight:

I figured those strikes would continue to be a factor. I imagine that more strikes will be in the future of mining this year as well.

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How to Be Sane in an Insane Investment Climate - TrimTabs Money Blog

How to Be Sane in an Insane Investment Climate - TrimTabs Money Blog | Gold and What Moves it. | Scoop.it

Those of you out there who are sane type investors should be worried about the fundamental investment problem you face. And that is how do sane people invest in an insane financial world? Stocks and bonds are up now for four years solely because of central bank rigging. At the same time our leaders refuse to address the fundamental problem that the economies of the US, Europe and Japan will not grow fast enough anytime soon to generate enough taxes to pay current bills, let alone past due.

How individual investors have answered that conundrum appears to be put the money in the bank. Last year over $700 billion went into bank savings and checking accounts and another $350 billion went into bond mutual and exchange traded funds. There is no doubt that many investors are so scared that they are literally doing nothing with their money other then leaving it in the bank. ...

Hal's insight:

Click over for the full piece and video.

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The Federal Government Hands Out Money To 128 Million Americans Every Month

The Federal Government Hands Out Money To 128 Million Americans Every Month | Gold and What Moves it. | Scoop.it

he number of Americans receiving money directly from the federal government has grown from 94 million in the year 2000 to over 128 million today.  A shocking new research paper by Patrick Tyrrell and William W. Beach contains that statistic and a whole bunch of other very revealing numbers.  According to their research, the federal government hands out money to 41.3 percent of the entire population of the United States each month.  Overall, more than 70 percent of all federal spending goes to what they call "dependence-creating programs".  It is the most massive wealth redistribution scheme in the history of the world, and it continues to grow at a very rapid pace with each passing month.  But can we really afford this?  Of course we never want to see a single person go without food to eat or a roof to sleep under, but can the federal government really afford to support 128 million Americans every month?  If millions more Americans keep jumping on to the "safety net" each year, how long will it be before it breaks and it is not there for anyone?  The federal government is already drowning in debt.  This year the U.S. national debt will easily blow past the 17 trillion dollar mark and we are rapidly heading toward financial oblivion.  We are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day with no end in sight.  If we don't get our finances in order as a nation, what will the end result be?

Hal's insight:

Keeping the presses rolling. Do you really think it can go on without any consequences?

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The Real Economy Vs. The Ivory Tower: Does Charles Plosser Live On Mars?

The Real Economy Vs. The Ivory Tower: Does Charles Plosser Live On Mars? | Gold and What Moves it. | Scoop.it

The news release hit the tape right after the stock market opened this morning: "Philadelphia Fed President Charles Plosser said Friday there are some risks to inflation in the medium to longer run unless monetary policy is tightened more quickly than the Fed anticipated in its last statement" (LINK).

 

The S&P 500 stock futures dropped 4 points on this and the precious metals went into typical cliff-dive mode, with March silver dropping 50 cents from the time the statement hit the tape to its low on the day.

 

Plosser's remarks are either patently misleading or his view is derived from gross negligence in analyzing real world data, the latter flaw of which is typical of "ivory tower" economists and Fed officials. We can use short term trading strategies to take advantage of the effects on the market caused by deceptive and misleading comments by Fed officials who have their head buried in the sands of fantasy.

 

I guess Plosser doesn't follow business and economic news, because the trade deficit for November released today was significantly higher than expected. In fact, the trade deficit was 20% higher than was forecast by Wall Street's brain trust.

 

I can't recall EVER seeing a miss this big to the downside for import/export numbers (-$48.7 billion vs. the -$41.1 billion consensus forecast by Wall Street's finest ...

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American Eagle Gold coin sales set for best January since 1999 | MINING.com

American Eagle Gold coin sales set for best January since 1999 | MINING.com | Gold and What Moves it. | Scoop.it
Already greater volume than December with three weeks to go.

 

According to figures from the US Mint website sales of American Eagle gold coins – a good indicator of overall gold demand in the US – this month already add up to 85,500 ounces.

 

That surpasses the 76,000 ounces for the whole of December.

 

127,000 ounces were sold during January last year and 133,000 ounces during the same month in 2011, the only times sales had reached triple digits since 2000.

 

With three more weeks to go, at the current rate sales of the popular coins should easily surpass those tallies. ...

Hal's insight:

So what do you supposse is up with gold this time? Hmmm.... We avoided the fiscal cliff, didn't we?

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John Hathaway - 11 More Key Gold Charts & The Big Picture

John Hathaway - 11 More Key Gold Charts & The Big Picture | Gold and What Moves it. | Scoop.it

January 11 (King World News) - Charts 16 & 17 reveal a potential time bomb for US treasuries. Interest on the public debt is close to historical lows, due in part to Fed manipulation, the “fear” trade, and old fashioned momentum.  Think of what 300 or 400 additional basis points across the yield curve would do to the fiscal deficit.  (Hint: what is 4% x $16 trillion as a percent of future fiscal deficits?  Answer: it is very high).

Hal's insight:

Click over for all the charts.

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Davies - Gold Is Now Set Up For A Vertical Price Explosion

Today rising star Ben Davies spoke with King World News about the extraordinary prediction that he made for the Japanese to enter the gold market in size.  Davies was the first in the world to make such a call and it has proven to be deadly accurate, to the point where this is now actively being discussed in mainstream media.  On the heels of being proven correct on his call for the Japanese to enter the gold market, Davies now predicts that gold is getting very close to the point where it will see a vertical explosion to the upside. 

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Federally Assistance Or Just A Hedge Fund? « Jim Sinclair's Mineset

My Dear Friends,


The early morning operation took place today taking gold off the $1704 level. Many of us are convinced that what we are seeing has Federal assistance. That means to us that the Fed is lending gold to the gold banks to facilitate the operation. Because of that there is a fear of taking on the operation.

 

I got a call last evening from a friend in the huge private hedge managed money telling me that we have all been bamboozled. The size of hedge funds today can easily mimic what would be considered Federally sponsored. The Fed is quite pleased, but is not the infinite power behind the bear operation that started at $1800.

 

It is a wild man/women with very big, but not infinite funds that is operating the gold market. That which the longs fear is air, and nothing more than a major huge hedge fund operation.

 

It is certainly is worth considering. Apple is not off from $750 on its own power. Herbalife did not drop off its recent high without significant help.

 

In another life at 35 years old I did similar things on the long side. I used banks common then to the Middle East to run gold hard on the upside. I even hired an actor to dress up like a Saudi Sheik. I hired armed private guards. I hired a stretch limo. Nobody knew it was a spoof except the actor, myself and my partner . We arranged ...

Hal's insight:

Read this missive from Jim Sinclair carefully, folks. Click through for the full piece.

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Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries

Swiss Gold Refiners Overwhelmed, Major Delays In Deliveries | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz told King World News that Swiss gold refiners have been overwhelmed with orders for physical gold and buyers are now experiencing major delays in deliveries.  Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this remarkable, exclusive interview:  “I had stated previously that gold would bottom in the last week of December, and this is what happened.  That daily, intraday low that we’ve seen was a screaming buy both fundamentally and technically.  I can tell you there were many banks and other parties taking advantage of this low, Eric.


“This is important information for your (readers and) listeners:  There has been major buying in the physical market as gold came down in the last week of December, and the first week of January.  The Swiss refiners are now working at absolute full capacity.

 

There is a delay in fulfilling orders. ..."


Hal's insight:

Click through for the rest from King World News.

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Inflation Propaganda Exposed | Peter Schiff | Safehaven.com

Inflation Propaganda Exposed | Peter Schiff | Safehaven.com | Gold and What Moves it. | Scoop.it

Economists who hold the popular view that expanding the money supply will provide the best medicine for our ailing economy dismiss the inflationary concerns of monetary hawks, like me, by pointing to the supposedly low inflation that has occurred during the current period of rampant Fed activism. In a recent blog post aimed specifically at me, Paul Krugman noted that the sub 2.5% increases in the Consumer Price Index (CPI) over the past few years are all that is needed to prove me wrong. In fact, Krugman and others have even suggested that the CPI itself overstates inflation and that the Fed would be better able to help the economy if less strict methodologies were used. However, there is plenty of evidence to suggest that the CPI is essentially meaningless as it woefully under reports rising prices.

 

Magazines and newspapers provide a good case in point. The truth has not been exposed through the economic reporting that these outlets provide, but in the prices that are permanently fixed to their covers. For instance, from 1999 to 2002 the Bureau of Labor Statistic's (BLS) "Newspaper and Magazine Index" (a component of the CPI) increased by 37.1%. But a perusal of the cover prices of the 10 most popular newspapers and magazines (WSJ, Washington Post, Time, Sports Illustrated, U.S. News & World Report, Newsweek, People, NY Times, USA Today, and the LA Times) over the same time frame showed an average cover price increase of 131.5% (3.5 times faster than the BLS' stats). This is not even in the same ballpark.

 

Some defenders of the BLS may conclude that prices were held down by the availability of free online news content or the convenience of digital delivery. But that is beside the point. Prior to the digital age, the BLS could have claimed that newspaper costs were held down by public libraries that provided free access. It's also true that online publications deliver less value on some fronts. Not only do many people enjoy the tactile process of reading physical newspapers or magazines, but they offer the secondary value in helping to kindle fires, housebreak puppies, pack dishes, and line birdcages. ...

Hal's insight:

You'll need to click through for the rest of the article.

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Gold price ends losing streak as Chinese and Americans stock up

Gold price ends losing streak as Chinese and Americans stock up | Gold and What Moves it. | Scoop.it
Buying on the dips.

 

by Frik Els:

 

The price of contract gold increased Tuesday, ending a three-session drop that at one point saw the metal trading at four-month lows.

 

February gold settled at $1,662 an ounce in New York, up just short of $16, or 1% on the day and held onto the day's gains in after hours trading.

 

Buying was set off by signs of strong physical demand particularly from China ahead of the Lunar New Year holiday. ...

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Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times

Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times | Gold and What Moves it. | Scoop.it

Ed Steer had an interesting note and chart:


"... The commentary included with the graph was as follows...  "As you can see, over the entire 12-year precious metal bull market, gold has bottomed in January seven times...but only once after April amidst the 2008 global meltdown...when the cartel viciously attacked to mask gold's "once and future" roll as a safe haven...only to see it recoup all such losses by February 2009." ..."

Hal's insight:

Click over for the full size chart and check out the chart on Chinese gold imports from Hong Kong.

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JAPANESE YEN FALLS TO LOWEST PRICE AGAINST GOLD SINCE 1980 – ¥149,588.2/OZ

JAPANESE YEN FALLS TO LOWEST PRICE AGAINST GOLD SINCE 1980 – ¥149,588.2/OZ | Gold and What Moves it. | Scoop.it
Gold climbed $5.20 or 0.31% in New York yesterday and closed at $1,668.40/oz. Silver surged to as high as $31.16 and finished with a gain of 1.94%. The yen fell to 149,588.2 yen against gold, its l...
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Chinese To Increase Gold & Silver Storage A Staggering 180%

Chinese To Increase Gold & Silver Storage A Staggering 180% | Gold and What Moves it. | Scoop.it

Today acclaimed money manager Stephen Leeb told King World News the West is becoming even more desperate as the Chinese are going to increase storage a staggering 180% this year for gold, silver and other metals.  Leeb continues to  believe that when the Chinese eventually have gold underlying their currency the game is over.  Here is what Leeb had to say:  “I’m focused on this battle between the West and the East right now, and the Basel III situation.  The Basel III ratios that discuss liquidity ratios the BIS want the banks to maintain so they can survive a bank run are utterly baffling.  The puzzling thing was what they said banks could hold in the event of a run on the banks or a liquidity squeeze.”

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Central Banks’ gambling: Is easy money that easy? — RT

Central Banks’ gambling: Is easy money that easy? — RT | Gold and What Moves it. | Scoop.it

Pumping billions into troubled economies has become the usual practice for the world central banks seeking to plug huge budget holes. Such an out of the box monetary strategy, generally known as ‘easy money’ may create another crisis, experts worry.

 

Since the financial crisis kicked off in 2007, the biggest central banks have injected above $11tn into the world financial system, the Wall Street Journal (WSJ) calculated. As recoveries by troubled economies are slow to come, more billions are in the pipeline to be pumped into government bonds, mortgages and business loans.

 

In the framework of its quantitative easing initiative, the US Federal Reserve has bought $40bn worth of mortgage – backed securities. The Bank of England also joined the club and agreed to inject billions of pounds into businesses and households. The European Central Bank, in turn, decided to keep interest rates low for the countries in trouble. The Bank of Japan, facing deflation, is purchasing about $1.14tn in government bonds, corporate debt and stock. 


"These emergency measures could have undesirable effects if continued for too long," Jaime Caruana, general manager of the Bank for International Settlements, told WSJ.

 

"Will history decide they did too little or too much? We don't know because it is still a work in progress," said Kenneth Rogoff, an economics professor at Harvard and co-author of a book, "This Time Is Different," that examines financial crises over eight centuries. "They are taking risks because it is an experimental strategy." ...

Hal's insight:

Surely our fearless and selfless leaders wouldn't gamble away our lives?

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Jesse's Café Américain: Gold Daily and Silver Weekly Charts

Jesse's Café Américain: Gold Daily and Silver Weekly Charts | Gold and What Moves it. | Scoop.it

oiling for a move, pretty much as expected.

Watch out for the debt ceiling battle. It could be a wild ride.

Hal's insight:

click over for the beautiful charts.

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Trader Dan's Market Views: Draghi Comments; Markets Party

Trader Dan's Market Views: Draghi Comments; Markets Party | Gold and What Moves it. | Scoop.it
ECB President Mario Draghi announced that the ECB, in an unanimous decision, voted to leave interest rates unchanged. Many market observers were expecting a rate cute. The announcement was viewed as an expression of ECB confidence in the EuroZone economy and thus had a devastating effect on the US Dollar with traders rushing to ply the risk trades particularly in the commodity sector, which if you recall the chart I published yesterday, had recently been on the receiving side of a good butt whipping by the hedgies. It is astonishing how rapidly sentiment, and thus money flows, can change in these modern markets. It is like watching an entire business cycle occur within a 24 hour period! Take one look at the following two charts and then you will understand why nearly anything remotely resembling a commodity is higher. ...
Hal's insight:

Click over for the rest of Dan's post and his charts.

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Charles Hugh Smith: Themes for 2013

Charles Hugh Smith: Themes for 2013 | Gold and What Moves it. | Scoop.it

Eight trends to follow in 2013 and beyond.

  Rather than attempt to predict the unpredictable – that is, specific events and price levels – let’s look instead for key dynamics that will play out over the next two to three years. Though the specific timelines of crises are inherently unpredictable, it is still useful to understand the eventual consequences of influential trends. In other words: policies that appear to have been successful for the past four years may continue to appear successful for a year or two longer. But that very success comes at a steep, and as yet unpaid, price in suppressed systemic risk, cost, and consequence.Trend #1: Central Planning intervention in stock and bond markets will continue, despite diminishing returns on Central State/Bank intervention ...
Hal's insight:

Click over for Smith's 8 trends.

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Trader Dan's Market Views: A Sermon to the Land

Trader Dan's Market Views: A Sermon to the Land | Gold and What Moves it. | Scoop.it

I am fully aware that the readers of this site do not regularly tune in to listen to my musings on the political and spiritual condition of the nation but rather to read my interpretations of market action especially in the precious metals realm.

However, I feel compelled to express what I am calling a sermon to the land, based on the events I see unfolding around me in this my beloved country. ...

Hal's insight:

Click through for the rest of Traders Dan's piece. History may not exactly repeat, but it certainly ryhmes. Many, many things affect the world around us, but one of the greatest things is the condition of the heart of man and his focus.

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Ray Stevens - Obama Budget Plan

Unhappy about Obama's budget? http://bit.ly/RSbudgetYTL for the new album or single.
Hal's insight:

LOL Hat tip to www.jsmineset.com

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Expect Higher Gold & Unemployment As Stocks Set To Plunge

Expect Higher Gold & Unemployment As Stocks Set To Plunge | Gold and What Moves it. | Scoop.it

Here is what top Citi analyst Fitzpatrick said in two reports, along with powerful charts:  “Initial Claims, one of our favorite leading indicators of the overall economic picture, appear to be bottoming, pointing to a deteriorating employment situation in the US. Additional red flags are being raised by Small Business, ISM and Consumer Confidence.


Fitting with idea that a low could be forming just as it did in late 1978. ...

Hal's insight:

click over for the full piece and charts.

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Gold as a Weapon in the Currency War: Chris Mancini - The Gold Report

Gold as a Weapon in the Currency War: Chris Mancini - The Gold Report | Gold and What Moves it. | Scoop.it
There is a war raging behind the scenes among the world's currencies. Chris Mancini, an analyst with the $400-million Gabelli Gold Fund, believes that gold will emerge the victor.

 

... TGR: You don't hear many pundits predicting a falling gold price in 2013, yet we continue to see volatility in the space. What's your forecast for the gold price in 2013?


CM: We're very constructive on the gold price in all currencies. All over the world, money is being printed, and gold is the one currency that can't be reprinted or replicated. The money that's being printed will ultimately lose its purchasing power, and gold should retain its purchasing power. Gold should continue to go up relative to currencies that will be losing their value. More debt leads to more money printing, and more money printing leads to continued devaluation of currency. It's a positive macroeconomic environment for gold.


TGR: Some investors don't view gold as a currency. They view it as a metal, a relic.

 

CM: Historically, gold has been the ultimate currency and, at some point in the future, will again be the ultimate currency. It's not legal tender, but that still doesn't mean it's not something that will hold its value over time relative to paper. ...

Hal's insight:

Click over for the full interview.

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Gold To Dwarf 1970s Move By Smashing Through $6,000

Gold To Dwarf 1970s Move By Smashing Through $6,000 | Gold and What Moves it. | Scoop.it

Today the man that has been meeting for the last two years with key foreign governments and sovereign wealth funds told King World News “... I think my $6,000 target (for gold) is going to prove to be very conservative.”  Also, on the heels of the latest Fed propaganda indicating they would cease QE at some point in 2013, he stated, “... it’s perpetual now.  There is no stopping it.”


This is the second and final written interview that will be released which reveals what is actually taking place behind the scenes with foreign governments and sovereign wealth funds, and how this will impact the financial world and the gold market. ...

Hal's insight:

Click over for the rest of the piece.

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Nonovercomplication from TF Metals

Nonovercomplication from TF Metals | Gold and What Moves it. | Scoop.it
Sometimes the answers are right in front of your face.

 

... Note how closely gold, silver and platinum tracked each other through 2012. However, suddenly on 1/3/13, they began to disconnect. Now, maybe there's some fundamental reason for this that I'm overlooking? Maybe, though, the beatdown at year-end and following the FOMC minutes was a deliberate washout attempt on gold and silver only? I'm going with the latter. And maybe now it's simply time for gold and silver to catch up? ...

Hal's insight:

Click through for the full analysis from TF Metals

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