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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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Economic Reports Now Driving Gold And Silver Prices - Seeking Alpha

Economic Reports Now Driving Gold And Silver Prices - Seeking Alpha | Gold and What Moves it. | Scoop.it

by Tim Iacono:

 

"It would appear that the Fed is either out of touch with emerging signs of slowing growth (as can be seen in the steady stream of disappointing economic reports from the Citigroup Economic Surprise Index via Bloomberg below that just dipped into negative territory for the first time since October), or they just don't want to get involved."

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Trader Dan's Market Views: US Q1 GDP grows 2.2% - Copper moves Higher?

Trader Dan's Market Views: US Q1 GDP grows 2.2% - Copper moves Higher? | Gold and What Moves it. | Scoop.it

Trader Dan Norcini:

 

"This morning's big news item was the fact that US Q1 GDP growth came in at 2.2%, well under expectations of 2.6% growth predicted by analysts and well down from Q4 2011 growth of 3.0%. Under "normal" circumstances, such a number would have been expected to put downward pressure on the bellwether copper market. 'Twas not the case however as copper shot up on the news bursting through the 50 day moving average in the process. What gives? Simple - we are now in an environment in which the more bad news we get, the more optimistic traders are becoming that the next round of QE is coming right up.

 

"That is what gold began sniffing out in yesterday's session and appears to be continuing today..."

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Austerity Topples Second European Government in a Week After Romania's Collapse

Austerity Topples Second European Government in a Week After Romania's Collapse | Gold and What Moves it. | Scoop.it

By MARTIN BACCARDAX:

 

"Romania's government, in office for only two months, was toppled by a vote of no confidence Friday making it the second European leadership within a week to collapse in the face of internal debate over the pace and scope of austerity measures.

 

"Opposition parties gathered 235 votes - four more than necessary in the 460-seat Parliament - to oust the newly-elected government of Prime Minister Mihai-Razvan Ungureanu. Debate within Romania had been raging for weeks over the government's plans to reduce its budget deficit from 4.4 percent in 2011. Ungureanu had set a target of 1.9 percent for this year in a plan that had tabled 25 percent public sector salary cuts and tax increases. He took office after the resignation of Emil Boc in the face of violent protests linked to his own austerity programme.

 

"Romania recently secured €5bn loan package from the IMF and the European Union last year in an effort..."

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Jim Grant explains how Central Banks are Waging War on Supply and Demand

Follow us @ http://twitter.com/laurenlyster http://twitter.com/coveringdelta Welcome to Capital Account. Last month, the federal reserve bank of new york inv...

 

hat tip to http://zerohedge.com  

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Gold Will Win Money War | Greg Hunter’s USAWatchdog

Gold Will Win Money War | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
By Greg Hunter’s USAWatchdog.com 

 

-Jim Willie:

 

"The so-called Global Financial Crisis is a term so widely used that it has earned its own acronym of GFC. When first seen, it seemed like girl friend club or some such, since many friends use GF loosely to refer to sweethearts. The GFC is falsely named, since it is more accurately described as a global monetary war with the USGovt vigorously defending its franchise in the USDollar for crude oil and trade settlement, and for bank reserves management. Take either away, and the other departs quickly, leaving the United States vulnerable to a quick ticket to the Third World marred by price inflation and supply shortage, even isolation in ring fences. On its own devices, the US is in as bad shape as the worst of the PIGS nations. The USGovt debt is above 100% of GDP finally. The annual deficit of $1.5 trillion could not be financed in normal methods. So the USFed is the adopted buyer of last resort, purchasing over 80% of new and recycled US debt issuance. The Interest Rate Swap tool acts like a hydraulic howitzer, in pushing down the long-term interest rates by creating false artificial demand. Without the IRSwap contract, a Morgan Stanley specialty, the US interest rates would be 6% to 7% just like Spain and Italy. The USTreasury Bond is not a safe haven, but rather a place where Weimar printing press operations persist, where decisions like SWIFT code rules are enforced like a illicit weapon, where billboards are painted to attract embattled investors of impaired toxic sovereign bonds from Southern Europe to retreat to the supposed safe haven of USTBonds."

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Jim Sinclair has something to say

Jim Sinclair has something to say | Gold and What Moves it. | Scoop.it
Although he is famous for his calls in gold, Jim Sinclair has accumulated a wealth of market knowledge over the last 50 years. We talk with him about what gold is telling us about the recovery.

 

Good article on the man worth listening to.

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Will a gold bar buy a case of beer? -- Felix TV

Gold bugs claim gold is better than cash, so Reuters finance blogger Felix Salmon took to the streets of New York City to try to buy something -- anything --...

 

LOL Lot of fun to watch this.

Read the blog post here: http://blogs.reuters.com/felix-salmon/2012/04/27/can-gold-be-used-as-a-currency/ ;

 

Here's Roger Vertes's ( http://twitter.com/#!/MonetaAdvisors ;) response to the video on Youtube and he nails it:

 

"This is a moronic piece. This Felix guy is taking things to literally. People do not buy gold (W the exception of the tinfoil hat crowd) because they anticipate using it to buy items with in lieu of cash. Felix either has an agenda or is plain stupid. The statement that gold is better than cash refers to gold's properties as a store of value in the current environment. The proof that gold is better than cash, for example Oil trades over $100 a barrel but priced in gold it is about $16 a barrel."

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Gold “Bargain of Lifetime” As Gold Standard Inevitable, Possibly Within Year - $10,000/oz Looms | ZeroHedge

Gold “Bargain of Lifetime” As Gold Standard Inevitable, Possibly Within Year - $10,000/oz Looms | ZeroHedge | Gold and What Moves it. | Scoop.it

"Support for gold is at $1,612/oz and resistance is at $1,663/oz and $1,684/oz.

 

"Gold climbed on Thursday on concerns that the Fed could employ more QE in a further attempt to stimulate the economy. The Fed said that the economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014”.

 

"Continuing ultra loose monetary policies and negative real interest rates continue to support gold.

 

"The Fed has already engaged in 2 rounds of asset purchases near a massive $2.3 trillion, to drive down interest rates and in a vain attempt to stimulate the US economy. QE helped push up both equity and commodity prices by providing cheap money to investors who placed it in riskier assets.

 

"Thus, QE is leading inflation pressures and there is a risk that the Fed, like other central banks, continues to underestimate the risk of inflation..."

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The Golden Army « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

"My Dear Extended Family,

 

"The degree of panic and hate mail I received in the last seven trading days almost broke the record of the first fall of gold from above $1000. A kind reader sent the following historical article to make me feel better.

 

"It worked.

 

"I feel great having once again told our gold army with only one gear in their fighting tanks, which is reverse, it would all be ok.

 

"Yes, gold will go to overvaluation at a point in the future, but there is no major top yet. I was wrong recently that the $1630 area had been the low. The manipulators sure showed me the day after I posted that. It now seems as if the $1620 area was the low of the recent major effort to depress the price of gold.

 

"Russia and Mexico as well as a host of other central banks bought cash gold, declared "check mate" and stopped the Crimex and gold banks dead in their tracks.

 

"Central bank buyers are locomotives. The Crimex is a small lawn tractor in comparison. Never stand in front of a locomotive is the secret to Yra Harris’ long term, and I am sure forever, success. You can tell I am proud of my former partner, Yra.

 

"Thank you again Christopher. I do know you are only as good as your last call.

 

"That $1650 has been the Mother of all magnets.

Jim..."

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The Official Bankster Dictionary | The Underground Investor

Had to laugh at some of these:

 

"In the underground world of banking, doing wrong means doing right, up is down, and left is right. I happened to stumble upon a secret version of the Bankster’s Dictionary the other day when I was visiting a bank. I’ve posted some of the terms below that were contained in the Bankster’s Dictionary to help you understand bankster language.

 

"US Federal Reserve = European controlled private bank.

"Savings Account = Devaluation Account, Cash

"Advance for Gambling Division

"Gambling = Banking Primary Business Line

"Fraud = Banking Secondary Business Line..."

 

Click over to read the rest.

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Bernanke Calls Krugman 'Reckless'; Krugman and Bernanke Both in Academic Wonderland Somewhere Deep in Outer Space | Mike Shedlock | Safehaven.com

Bernanke Calls Krugman 'Reckless'; Krugman and Bernanke Both in Academic Wonderland Somewhere Deep in Outer Space | Mike Shedlock | Safehaven.com | Gold and What Moves it. | Scoop.it
Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman's proposals as "reckless".

 

LOL

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Gold Bull Rally Still Has A Long Way to Go - International Business Times

Gold Bull Rally Still Has A Long Way to Go - International Business Times | Gold and What Moves it. | Scoop.it

By ESTHER TANQUINTIC-MISA:

 

"Mexico jacked up its holdings by 16.81 tonnes to a total of 122.58 tonnes; Russia bought 16.55 tonnes to grow its total reserves to 895.75 tonnes; Turkey, an additional 11.48 tonnes to make its reserves total to 209.6 tonnes.

 

"Argentina acquired 7 tonnes with total holdings now at 61.74 tonnes; 4.3 tonnes for Kazakhstan to total at 96.16 tonnes; and Ukraine, with its total 29.21 tonnes boosted by the 1.18 tonnes bought in March. There were another half dozen countries that elevated their holdings of the precious metal thought merely by increases of less than a tonne.

"Central banks, like many private investors, view gold as a hedge against debasement and devaluation of their U.S. dollar- and euro-denominated currency reserves," Mr Nichols said.

 

"Gold enthusiasts and kibitzers should not actually be surprised by the recent news of continued significant central bank gold purchases this past March, Mr Nichols noted.

 

"We have repeatedly suggested that official purchases were giving the market some downside protection with central banks buying on dips when their purchases would not be disruptive or particularly visible to other market participants and observers of the gold scene," he said..."

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Yuan to become major commodity currency - traders - MINING FINANCE

Yuan to become major commodity currency - traders - MINING FINANCE | Gold and What Moves it. | Scoop.it

Christopher Johnson and Emma Farge (Reuters):

 

"Gold, copper and other commodities could be paid for in yuan within a decade or two, bankers and traders said on Wednesday, provided China pursues its policy of gradually freeing up trade in the currency.

 

"Already the world's biggest consumer of commodities such as industrial metals and oil, China's economy is growing more than three times faster than most developed countries.

 

"Chinese customers and end-consumers such as refiners and fabricators now typically pay for such imports with dollars, but bankers at a Financial Times commodities conference in Switzerland think that will change, possibly quite rapidly.

 

"They expect the yuan, also known as the renminbi, to be used increasingly to settle contracts into China and eventually as the basis for commodities trading, at least in Asia.

 

"'There is a great push of the renminbi by China's government,' Jean-Francois Lambert, managing director and global head of commodity and structured finance at the HSBC (HSBA.L) banking group, told Reuters..."

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Twitter / Laura Gross: #CurrencyWars continue: Pe ...

#CurrencyWars continue: People's Bank of China expanded the range that it would allow the CNY to rise or fall each day http://t.co/TfcyffoQ
Apr 27 via bitly Favorite Retweet Reply

#CurrencyWars continue: People's Bank of China expanded the range that it would allow the CNY to rise or fall each day http://t.co/TfcyffoQ...
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Twitter / Spence Cooper: “Mortgages Now On Sale at ...

“Mortgages Now On Sale at Costco” http://t.co/wv4UKTYA
Apr 27 via Tweet Button Favorite Retweet Reply

“Mortgages Now On Sale at Costco” http://t.co/wv4UKTYA...
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Downtrend in Spain’s Unemployment Rate Could Continue

Downtrend in Spain’s Unemployment Rate Could Continue | Gold and What Moves it. | Scoop.it

by Shankar Besta:

 

"The downtrend in the unemployment rate of debt-stricken Spain is expected to continue in the coming months, as the deepening recession along with austerity measures likely to weigh on the labor market in the nation.

 

"The jobless rate in the eurozone’s fourth largest economy increased sharply to a new record high of 24.4 percent in the first quarter this year, the highest level in 18 years, National Statistics Institute said on Friday.

 

“With the deepening recession, this unfavourable trend on the job market is likely to continue over the coming quarters. The Spanish economic situation remains very challenging, with 1) a potential supply credit crunch and 2) the elevated speed of fiscal consolidation,” said a note from Societe Generale Cross Asset Research.

 

"Late Thursday, Standard & Poor's (S&P) downgraded Spain’s credit rating by two notches from A to BBB+ with negative outlook, citing reasons as worsening economic outlook and increased risks for further rise in government debt..."

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Gold “Buying Opportunity” - Gold Analysts More Bullish On Central Bank Demand | ZeroHedge

Gold “Buying Opportunity” - Gold Analysts More Bullish On Central Bank Demand | ZeroHedge | Gold and What Moves it. | Scoop.it

"The poor and deteriorating economic backdrop is gold supportive.

 

"Gold Analysts More Bullish As Debt Crisis Not Over – “Buying Opportunity”

 

"Gold analysts are more bullish after central banks expanded their bullion reserves and hedge funds

increased bets on a rally for the first time in three weeks.

 

"14 out of 28 analysts surveyed by Bloomberg expect prices to rise next week and 9 were neutral, the

highest proportion in 2 weeks.

 

"Central bank demand and CFTC data is one of the reasons for their positivity on gold..."

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Gold-starved Indians lap up gold ETFs - GOLD ANALYSIS

Gold-starved Indians lap up gold ETFs - GOLD ANALYSIS | Gold and What Moves it. | Scoop.it

by Shivom Seth:

 

"As the equity market remains subdued in India, traders said the interest in gold ETFs would persist as a much preferred option. Investors even preferred to invest in paper gold on the auspicious occasion of Akshaya Tritiya on April 24, with investments in gold ETFs surging 44% in one single day.

 

"The trade value of gold ETFs on the National Stock Exchange rose to Rs 6.08 billion from Rs 4.23 billion a year ago on that day.

 

"The ETF as an investment option has caught on very well in India,'' said Swami Kumar Narayan, bullion expert with an investment house. ''The number of accounts has risen to 4,28,769 in September 2011 from 1,47,047 in March 2010, indicating a growth of almost 192%. The total amount of gold held by ETF AMC has gone up from 19 tonnes in March 2011 to 28 tonnes in September and 33 tonnes in December 2011, an increase of 74% in nine months,'' he added."

 

{Wrong thing to be lapping up if you ask me.}

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Leeb: Spain Flirts With Disaster As Europe Ready To Blow Apart

Leeb: Spain Flirts With Disaster As Europe Ready To Blow Apart | Gold and What Moves it. | Scoop.it

On the heels of the S&P downgrade of Spanish debt, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that not only is Spain in trouble, but Europe is literally ready to blow apart. Leeb also discussed gold and silver, but first, here is what Leeb had to say about the S&P downgrade of Spanish debt: “It’s really one more sign that Europe is on a terrible track. When you have 25% unemployment in Spain and a huge amount of economic distress in most of Europe, and you are telling people the solution is to spend less money and become more austere, it’s just simple logic that’s not going to work.

 

“This is an accident waiting to happen. Sooner or later they are going to have to fire up the printing presses again, and flood the countries with money. Europe is ready to blow apart. People are literally killing themselves in Europe. Suicides are way up because of economic distress.

 

"People are being told that the remedy for economic distress is to spend less. How can you spend less when you can’t even afford to buy enough food? This simply can’t last...."

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Greyerz - Bankrupt Nations Desperate to Save Financial System

Greyerz - Bankrupt Nations Desperate to Save Financial System | Gold and What Moves it. | Scoop.it

Egon von Greyerz tells King World News:

 

“So they (the IMF) raised 400 billion from various nations, but where is the money coming from? The majority is coming from Europe and the EU. (They are) all bankrupt. They have no funds. They have to print money. Japan, which has the biggest debt to GDP ratio of most industrialized nations, they are a major contributor of about 60 billion. So it’s ridiculous. Here is the bankrupt helping the bankrupt.

 

"The massive problems that the world is experiencing started with the US subprime market collapsing. That has not been resolved yet. Nowhere have we seen a change in the direction of the US economy, which is down...."

 

It's like the blind leading the blind, one might think. The reality is that the puppet masters are just working on stealing from and further enslaving generations via debt, in my opinion.

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Trader Dan's Market Views: Gold seeing some strength

Trader Dan's Market Views: Gold seeing some strength | Gold and What Moves it. | Scoop.it

Trader Dan:

 

"One gets the impression that the gold market simply does not believe that the Bernanke-led Fed is going to be able to avoid doing another round of QE..."

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5 New Lies That The Federal Reserve Is Telling The American People

5 New Lies That The Federal Reserve Is Telling The American People | Gold and What Moves it. | Scoop.it

"The Federal Reserve says that everything is going to be okay. The Fed says that unemployment is going to go down, inflation is going to remain low and economic growth is going to steadily increase. Do you believe...

 

"...The following are 5 new lies that the Federal Reserve is telling the American people. After each lie I have posted what The Economic Collapse Blog thinks is actually going to happen....

 

"#1 The Federal Reserve says that the labor market has improved and that unemployment is going to decline significantly over the next few years..."

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So Long, US Dollar | Marin Katusa | Safehaven.com

So Long, US Dollar | Marin Katusa | Safehaven.com | Gold and What Moves it. | Scoop.it

by Marin Katusa:

 

"There's a major shift under way, one the US mainstream media has left largely untouched even though it will send the United States into an economic maelstrom and dramatically reduce the country's importance in the world: the demise of the US dollar as the world's reserve currency.

 

"For decades the US dollar has been absolutely dominant in international trade, especially in the oil markets. This role has created immense demand for US dollars, and that international demand constitutes a huge part of the dollar's valuation. Not only did the global-currency role add massive value to the dollar, it also created an almost endless pool of demand for US Treasuries as countries around the world sought to maintain stores of petrodollars. The availability of all this credit, denominated in a dollar supported by nothing less than the entirety of global trade, enabled the American federal government to borrow without limit and spend with abandon.


"The dominance of the dollar gave the United States incredible power and influence around the world… but the times they are a-changing. As the world's emerging economies gain ever more prominence, the US is losing hold of its position as the world's superpower. Many on the long list of nations that dislike America are pondering ways to reduce American influence in their affairs. Ditching the dollar is a very good start..."

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Twitter / Spence Cooper: “The Bailout Of The US Pos ...

Twitter / Spence Cooper: “The Bailout Of The US Pos ... | Gold and What Moves it. | Scoop.it
“The Bailout Of The US Postal Service Begins: Cost To Taxpayers - $110,000 Per Union Vote "Saved Or Gained"” http://t.co/cEU6Fy4j...
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Dutch Politicians 'Reach Agreement' in Desperate Budget Talks After Coalition Government Collapse

Dutch Politicians 'Reach Agreement' in Desperate Budget Talks After Coalition Government Collapse | Gold and What Moves it. | Scoop.it
Opposing Dutch politicians are trying to agree a 2013 budget that will meet the EU's deficit target after the coalition government collapsed when it could not agree.

 

by Shane Croucher: 

 

"If the Dutch are allowed to forego their deficit obligations because of political disagreement, there are fears that others in the EU with worse budgetary situations will also rein in from the original agreement and unsettle bond markets, exposing them to the risk of high or even unsustainable borrowing costs..."

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