Gold and What Moves it.
84.5K views | +0 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!

Treasury Secretary Geithner: Lift Debt Limit to Infinity | CNS News

Treasury Secretary Geithner: Lift Debt Limit to Infinity | CNS News | Gold and What Moves it. | Scoop.it
CNSNews.com was launched on June 16, 1998 as a news source for individuals, news organizations and broadcasters who put a higher premium on balance than spin and seek news that’s ignored or under-reported as a result of media bias by omission.

 

click through for the rest and the video

more...
Robert Campbell sr.'s comment, November 20, 2012 11:12 AM
The Real Progressive Communist Transformation...Multicultural Subversion and Economic Terrorism of America...
Scooped by Hal
Scoop.it!

Upcoming Crash Will Be ‘Worse Than 2008’ Says Economist Peter Schiff

Upcoming Crash Will Be ‘Worse Than 2008’ Says Economist Peter Schiff | Gold and What Moves it. | Scoop.it
“The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . .

 

By Christian Hill

 

Investors need to prepare for an upcoming stock market crash that will be “worse than 2008.”

 

That’s according to a well-respected author and investor, making a recent appearance on Fox Business.

Peter Schiff, the CEO of Euro Pacific Capital, says the stock market collapse we experienced in 2008 “wasn’t the real crash. The real crash is coming.”

 

He says that Federal stimulus, or quantitative easing, never works and that it just makes the economy sicker in the end. “The reason we are so screwed up is all this quantitative easing is toxic. I don’t doubt that we are going to pressure Germany into printing. We are like the kid who is trying to get a friend to ditch school with us to go to the beach. We are a bad influence on everybody.”

 

Schiff’s solution is to raise interest rates, but he acknowledges that it would bring a huge downside risk with it. “In America, the problem is that interest rates are too low. They have to go up. We can’t have an economy with interest rates at zero. If the Fed lets interest rates go up, we have to realize that we will have a deeper recession, we have to realize that banks are going to fail.”

 

Read more: New Crash will be worse than 2008 says economist
Important: Can you afford to Retire?

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

US to probe JP Morgan on money-laundering — RT

US to probe JP Morgan on money-laundering — RT | Gold and What Moves it. | Scoop.it
US regulators are reportedly expected to charge America’s biggest bank JP Morgan Chase & Co with failure to prevent money-laundering.

 

Umm.... LOL... ROFL... HAHA. Yeah right......

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

VTB Capital to start issuing 'golden bonds' — RT

VTB Capital to start issuing 'golden bonds' — RT | Gold and What Moves it. | Scoop.it

"Investment arm of Russia’s second largest bank – VTB Capital – will start issuing bonds tied to gold price. The new instrument enters Russia just when global downturn makes gold increasingly attractive.

 

"The new so–called ‘gold bonds’ provide for 3 fixed coupons – 0.1% each – with the yield to maturity depending on the gold price dynamics, Vedomosti daily reports. The Gold price on November 26 – the day when the placement is set to kick off – will be taken as the base to calculate gold growth. Overall, the new bonds can create up to annualized 21.3% yield for investors.


"Such “an unusual instrument will be popular among the players who seek for less risky financial instruments in times of world economic instability,” Ekaterina Kondrashova of Investcafe says. ..."

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

oftwominds-Charles Hugh Smith: Start Your Own Financial Media Channel with This Template

oftwominds-Charles Hugh Smith: Start Your Own Financial Media Channel with This Template | Gold and What Moves it. | Scoop.it

Hilarity from Charles Hugh Smith:

 

"This secret template enables everyone to launch their own financial "news" channel.

 

"You've probably noticed the cookie-cutter format of most financial media "news":a few key "buzz words" (fiscal cliff, Bush tax cuts, etc.) are inserted into conventional contexts, and this is passed off as either "reporting" or "commentary" depending on the number of pundits sourced. ..."

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

Batch Gold buying to lift China demand in fourth quarter

Shanghai Gold and Jewelry Trade Association said they expect a surge in jewelry demand during the rest of this year and start of next, as the Christmas and New Year holidays approach.

 

BEIJING(BullionStreet): "A day after a World Gold Council report said China's gold demand dropped 8 percent in the third quarter, experts are hopeful of a recovery in the fourth quarter.

 

"According to Albert Cheng, WGC managing director in charge of the Far East region, Chinese demand will recover in the fourth quarter, as the new leadership in the country is expected to roll out stimulus measures, and as the holiday gift-giving seasons approach.

 

"He said despite the dip, consumer demand as a whole stayed 23 percent above the five-year quarterly average, confirming the long-term strength of the world's second-biggest gold market.

 

"Shanghai Gold and Jewelry Trade Association said they expect a surge in jewelry demand during the rest of this year and start of next, as the Christmas and New Year holidays approach.

 

"Association sees changes in Chinese buying habits, as consumers tend to buy gold jewelry in batches, as an investment. Investment managers said they had seen more demand for gold bars and commemorative coins, than for gold-backed exchange-traded products. ..."

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

Germany may repatriate 10% of Gold stored in the US

For decades around half of the German government's gold reserves worth some $80 billion has been stored in a vault deep below the US Federal Reserve building.

 

BERLIN(BullionStreet): "German politicians are applying more pressure on authorities to repatriate country's huge gold reserves stored in the US.

 

"They demanded that the Bundesbank is required to count and weigh the gold it holds every year but those kept in the US have not been weighed or counted once in three decades.

 

"They added that the present scenario of financial crisis, Germans feel anxious about their national wealth and want to be sure they can count on their gold.

 

"The euro crisis forms the background to what is a slight paranoia in Germany right now, analysts said ..."

 

Just 10%? why not all?

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

Soros raises gold ETF holdings by half, nearly triples Freeport stake

Soros raises gold ETF holdings by half, nearly triples Freeport stake | Gold and What Moves it. | Scoop.it

While the Soros and Paulson funds remain bullish on gold, major gold ETF shareholder Windhaven dropped its SPDR Gold holdings during the third quarter.

 

by Dorothy Kosich:

 

RENO (MINEWEB) -

 

"Billionaire fund manager George Soros increased his stake by half in the SPDR Gold Trust while fellow billionaire fund manager John Paul maintained his holding in the world’s largest gold bullion-backed ETF.

 

"However, Paulson reduced his position in Gold Fields, while Soros Fund Management nearly tripled its position in Freeport-McMoRan Copper & Gold, SEC filings showed Thursday.

 

"During the third quarter, Soros Fund Management raised its interest in SPDR Gold shares from 884,400 shares in the second quarter to ..."

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

Reassessing the global financial status quo - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb

Reassessing the global financial status quo - INDEPENDENT VIEWPOINT - Mineweb.com Mineweb | Gold and What Moves it. | Scoop.it

Julian Phillips writes:

 

"... Much as we might hunger for reform in so many areas, we must be pragmatic in looking forward. The world is not pure –far from it— so it is realistic to look at what is here today that will shape tomorrow. Looking at the future through these leader’s eyes gives us a clear perspective.

 

"Underlying the developed world society is the state of the family, which underpins the state of the nation. This in turn describes the state of national and global cohesion within world structures. For instance, by contrasting the progress of China’s economy with that of the developed world, we get a focused picture of the economic and monetary capabilities of civilization in the two blocs.

 

"If you doubt what we have said, look back to the start of the credit crunch in 2007 and see that it has been over five years since it began. The problems that exploded on us then –have they been resolved? Has the political system been reformed? Is the developed world showing a clear direction forward or is it a mélange of contradicting power bases, in dispute with one another. Has the financial system been reformed? Or is it reliant on a series of rescue operations attempting to hold together structures that have failed so far to provide what we are looking for in our future? Are the fundamental structures of government and finance working cohesively to provide solutions that will lead the developed world to a growing future? It does seem that political parties keep promising a solution to our problems (with little to no details) and manage to avoid letting us see that the problems we face are a consequence of past actions by the same dominant structures. ..."

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

Silver To Climb 38% In 2013 - "Possibly Over $50/oz" Say GFMS | ZeroHedge

Silver To Climb 38% In 2013 - "Possibly Over $50/oz" Say GFMS | ZeroHedge | Gold and What Moves it. | Scoop.it

Posted by Tyler Durden on www.zerohedge.com

 

 

"... Thomson Reuters GFMS has published research that says they project silver prices to rise 38% in 2013 from current levels, as a sluggish global economy increases safe haven demand.

 

"The bullish silver GFMS forecast was published on the Silver Institute website yesterday and is unusual as the GFMS have been quiet bearish on silver in recent years despite rising prices.

 

"Philip Klapwijk of GFMS said that “a rebound in investment demand stemming from continuing loose monetary policies is expected to drive silver prices towards and possibly over $50 during 2013.”

 

"Spot silver has risen over 17% this year overtaking gold’s 10% gain, and paving the way for its third consecutive rise in four years.

 

\"Strong investment demand, higher gold prices on ..."

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

gold market analysis | Anna Coulling

gold market analysis | Anna Coulling | Gold and What Moves it. | Scoop.it

Anna Coulling writes:

 

"An interesting day for the gold market yesterday, as December gold futures sold off initially, only to recover later in the session to close at $1714.50, as the precious metal continues to trade in this narrow range, and holding just above the $1700 per ounce level, which was tested once again. The current price action is far from straightforward at present, driven as it is by a combination of factors including safe haven status, dollar strength, and demand for the metal which has fallen in China recently, and which was cited as a primary driver in yesterday’s market. The US dollar is also contributing to the current weakness, and with the currency of first reserve now looking to extend it’s recent bullish run higher on the dollar index, gold is likely to come under pressure once again. However, given the negative sentiment for risk assets now clearly in evidence, investors may seek the safe haven status of gold in the short term, particularly if the VIX breaks about the key 20 level on the daily chart.

 

"Moving to the daily chart for gold, the isolated pivot high posted on the 9th November is now adding pressure to the current move lower, with the market having failed to ..." Click over for the rest of her analysis and chart.

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

Eric De Groot: Gold Follows The ABCD Cycle

Eric De Groot: Gold Follows The ABCD Cycle | Gold and What Moves it. | Scoop.it

Eric De Groot writes:

 

"Gold follows an A(minor up), B(minor down/consolidation), C(Major UP), and D(Major DOWN) cycle. The last major buy signal for gold came July 27th 2012 after the D-wave "hook". This buy signal is marked in the chart below.

 

"We're in the middle of an AB transition, but today's aggressive selling in the gold shares sector suggests that a large number of ..." click through for the rest and the large chart.

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

oftwominds-Charles Hugh Smith: Welcome to the Nuthouse: How Private Financial Fiat Creates a Public Farce

oftwominds-Charles Hugh Smith: Welcome to the Nuthouse: How Private Financial Fiat Creates a Public Farce | Gold and What Moves it. | Scoop.it

Zeus Yiamouyiannis, Ph.D.

 

"Nothing succeeds like failure when you are a big bank. We’ve already seen that. Too many articles have already been written about that.

 

"Heads, the big banks win through their hugely profitable derivatives and other fake wealth vehicles on the way up the phony growth curve.

 

"Tails, you, the citizen, loses as you are forced to redeem this toxic trash for real money in the form of government bailouts and Federal Reserve purchases as fake value collapses.

 

“O, the inhumanity, O the injustice.”

 

"Hey, we get it. You can stop pounding the drums. Bring on Act II: “The current anti-capitalist farce and its riotous effects.”

 

"Capitalism turned on its head

 

"What happens to functioning capitalism when its core operating principles of value and money, risk, private property, profit, supply and demand, price discovery, transparency and accountability, productivity, and exchange of worth can selectively be erased on the whim of self-interested, politically connected players? ..."

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

SPAIN: RESIDENCY FOR FOREIGNERS WHO BUY HOUSES

SPAIN: RESIDENCY FOR FOREIGNERS WHO BUY HOUSES | Gold and What Moves it. | Scoop.it

MADRID (AP) -- Looking for a new place to call home? Spain is hoping to give you a little bit more than a welcome basket of baked goods if you decide to move there. In an attempt to reduce the country's bloated stock of unsold homes, the government is set to offer permanent residency to any foreigner provided they buy a house or apartment worth more than (EURO)160,000 ($200,000).

 

The plan, unveiled by Trade Ministry secretary Jaime Garcia-Legaz Monday and expected to be approved in the coming weeks, would be aimed principally at Chinese and Russian buyers. Spain has more than 700,000 unsold houses following the collapse of its real estate market in 2008 and demand from the recession-hit domestic market is stagnant. ...

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

Biderman's Daily Edge: A Simple Government Fix - Eliminate States & Almost All Federal Agencies

Biderman's Daily Edge: A Simple Government Fix - Eliminate States & Almost All Federal Agencies | Gold and What Moves it. | Scoop.it

Video: TrimTabs' Charles Biderman discusses how he would change government in order to create a system that's more effective and efficient.

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

Gold dumped as debt worries mount | MINING.com

Gold dumped as debt worries mount | MINING.com | Gold and What Moves it. | Scoop.it

by Michael Allan McCrae:

 

"Gold is flirting with the $1,690 level as investors clamour for cash worried about the fiscal cliff, about the euro and about trouble in Israel.

 

"Gold is being seen increasingly as a source of cash," said the head of precious metals at bullion bank Scotia Mocatta, Simon Weeks, in a post on Market Oracle.

 

"Liquidation of gold can cover losses elsewhere. ..."

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

The Worst Economic Numbers In More Than A Year

"With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs. Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011. The unfortunate truth is that things are not getting better. The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months. ..."

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

Jesse's Café Américain: CME Loosens Margin Requirements On Gold and Silver and other Contracts

Jesse's Café Américain: CME Loosens Margin Requirements On Gold and Silver and other Contracts | Gold and What Moves it. | Scoop.it

"The CME has reduced margin requirements on quite a few of their traded instruments.

 

"In the case of gold and silver futures contracts, the reductions seem designed to bring the margins paid by specs more in line with those required of 'the professionals.' ..."

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

Ben Davies - There Is A New Buyer Entering The Gold Market

Ben Davies - There Is A New Buyer Entering The Gold Market | Gold and What Moves it. | Scoop.it

Ben Davies tells King World News:

 

"... And if they (Japan) do it themselves, and if they do it badly, ironically, having not had inflation for such a long time, they could actually cause it (inflation) to ratchet up demonstrably. And, yes, there is a non-negligible risk of hyperinflation.

 

"Now within that prism, clearly hard assets remain a very important part of one’s portfolio. I suspect that Japanese pension funds, insurance companies, banks, although they have to buy government bonds as almost a public edict because they can’t place the bonds, but talking to managers, there are switches going into the precious metals market. They are definitely buying up gold. Pension funds are doing that (buying gold). So there will be allocation shifts there. ..."

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

India still the world`s biggest gold market

India still the world`s biggest gold market | Gold and What Moves it. | Scoop.it

India has shot to the top spot again as the world's biggest gold market in Q3, as demand jumped 9%, while demand in China toppled 8%.

 

 

by Shivom Seth

 

MUMBAI (MINEWEB) -

 

"India has toppled China to emerge as the largest gold consumer in the third quarter of 2012. Though global gold demand fell in the Q3 with investors buying fewer bars and coins, India’s gold demand revived in the June-September quarter 2012.

 

"According to data compiled by the World Gold Council (WGC), gold demand totalled 223.1 tonnes, up 9% year on year from 204.8 tonnes in the third quarter of 2011. Demand from China actually slipped in the same quarter. China recorded an 8% drop in demand at 177 tonnes (191 tonnes) due to the economic slow down in the country. Jewellery demand was down 5% at 124 tonnes as retailers reduced their inventory. ..."

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

India's $22 billion temple Gold treasure back in limelight

Front line politicians in the country demanded the massive wealth to be utilized for the benefit of the millions of poor people in the country.

 

By Sajith Kumar
KOCHI(BullionStreet): "The World's richest temple, perhaps the richest place for worship in the world , Sree Padmanabhaswamy temple in South India's Kerala state is back again in limelight, one and a half years after the discovery of the great treasure.

 

"Some of the proposals made by Gopal Subramaniam, the amicus curiae appointed by the Supreme Court to render assistance and to represent the expert committee going into the security, inventory and other aspects related to the temple, have received more bricks and brats than flowers.

 

"The eighth century temple shot into fame across the world after a mega treasure consisting of thousands of kilos of gold, diamonds, gems and silver ornaments, found concealed in different cellars, later estimated to cross over a mind-blowing Rs 1,00,000 crore ($22 billion).

 

"In his report, Subramaniam made recommendation to appoint a nephew of the present 'maharaja' Uthradam Thirunal Marthandavarma as the administrator of the temple and also recommended that politicians should be kept away from ..."

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

Trader Dan's Market Views: Gold Lower but Holding Above Support

Trader Dan's Market Views: Gold Lower but Holding Above Support | Gold and What Moves it. | Scoop.it

Dan Norcini writes:

 

"Considering what looks more like a non-stop avalanche of selling in the mining sector, the yellow metal is holding relatively well. It has bounced off the first level of support shown on the price chart that comes in very near to the $1700 level.

 

"Failure to remain above this level will allow the market to move lower towards the $1680 region where it can be expected to find some buying support.

 

"To get the least bit of excitement going, gold will have to clear $1740 and remain above that level before it rattles anyone other than the most short-term bears. ..." click through for the rest of his analysis and chart.

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

Don’t Let Machines Control Your Emotions « Jim Sinclair's Mineset

Jim Sinclair writes in response to this news item: Banks told by Fed to test for 12% unemployment http://www.marketwatch.com/story/banks-told-by-fed-to-test-for-12-unemployment-2012-11-15?link=MW_latest_news 

 

 

"Gold will trade at $3500 and beyond. The US dollar will test USDX .7200 before heading lower.

 

"Whatever is required, be it time or money, the Euro nations will get. The Fed will, via swaps, backstop the euro. QE will go to infinity both here and there.

 

"The Chinese have publicly said when the gold market takes a hit they will be buying.

 

"Calm down. Emotions are being run by machines, HFT and nerds who hide behind their computer. They will not win.

 

"All hell is going to break lose, and its name is Currency Induced Cost Push Inflation."

 

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

Where has all the Risk gone?

Where has all the Risk gone? | Gold and What Moves it. | Scoop.it

Author of THE DEBT GENERATION... writes:

 

"People always say Follow the Money. You might do better to Follow the Risk.

 

"Risk is the pollution created by the process of making money. So where you find people making one you will surely find them hiding the other. You’ll find both at the banks.

 

"Banks have managed to convince the regulatory authorities – their regulatory authorities, and I use the word ‘their’ advisedly – to convinced them to count the creation and storing of risk as part of the banks contribution to the nation’s GDP. I wrote about how our governments count risk creation and storage of as part of the bank’s GVA (Gross Value Added) in What the Banks Contribute to GDP. Our government’s reasoning is that risk is an unavoidable by-product of the financial industry so the industry should get credit for dealing with the stuff. But imagine counting the creation and storage of radioactive waste as part of the value added of the nuclear industry? Would it not seem perverse to celebrate increases in the amount of waste being stored and see it as evidence of what a wonderful industry it was, rather than ask why they produced so much in the first place? Would it not seem odd to talk glowingly (sorry) of the increases in radiation levels being stored, and reward the industry accordingly, rather than ask if there might not be a safer, less radioactive way of generating power? It seems to me this is the situation we are in with banking. ..."

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

THE ONLY PROTECTION LEFT…..SILVER & GOLD - The Prospector Blog

THE ONLY PROTECTION LEFT…..SILVER & GOLD - The Prospector Blog | Gold and What Moves it. | Scoop.it

TheProspectorSite.com writes:

 

"Listening to Congress argue over increasing your taxes reminds me of trick I used to play on my boys many years ago. As they crawled into bed I would lean into their room all while hiding the light switch closest to their door. With my free hand I would raise it high in the air asking my boys if dad had the magic to cut the lights with nothing more than a snap of the finger. What they didn’t realize was my other hand, blocked by my body, could flip the switch off simultaneously. The trick worked many times before my oldest let reason supersede the magic of his father. Today, our elected officials play the same cute little trick on the masses as we fall for the same taxation dog and pony show over again. ..."

more...
No comment yet.