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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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Ed Steer on JPM and Silver manipulation Gold & Silver Daily

Ed Steer on JPM and Silver manipulation Gold & Silver Daily | Gold and What Moves it. | Scoop.it

From Ed Steer in his Gold and Silver Daily:

 

"If you needed more proof that silver is at the centre of the known universe for JPMorgan et al, it was provided for you yesterday.I just don't know how much more obvious it has to get than that.

 

"Options and futures expiry for the May delivery month in silver is upon us...as is the FOMC meeting over the next couple of days...so I'd guess that one or more of these events brought on the engineered sell-off in silver yesterday.

 

"Is it over? Beats me. Can 'da boyz' take the price lower from here? Sure, but how many more spec longs are they going to be able to get to sell...or go short? There is a limit...and the law of diminishing returns sets in quickly when prices get this close to the bottom of the barrel.

 

"But, as Ted Butler said on the phone yesterday, you can never underestimate the criminality of the sociopaths that are running this price rigging scam...and I heartily agree with that assessment. It will be over when it's over...and we won't know when that is until after the fact. Yesterday's low at 1:25 p.m. in New York sure looked like it to me...but as I've said on numerous occasions in the past, I wouldn't bet the ranch on it..."

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Fact, opinion and fiction in the rising gold price scenario - #GOLD ANALYSIS

Fact, opinion and fiction in the rising gold price scenario - #GOLD ANALYSIS | Gold and What Moves it. | Scoop.it

by Lawrence Williams:


"But then perhaps we should also discount the opinions of those who see gold rising rapidly to say $5,000 or $10,000, or the bubble merchants who see it falling to $700 - but at least these are expressed as opinions, not as facts. Although it is worth noting that only a few short years ago a gold price prediction of $1,000 was considered far-fetched.


"One thus needs to weigh up the probabilities here. There is little doubt that hugely rising Chinese consumption, whether it be official hoarding or just consumer demand, plus the amount of gold going into the major gold ETFs, coupled with the weak global economy have in combination been the biggest supporters of the current gold price levels - and appear to be underpinning it, along with Indian demand which in effect has always been there. While the recent moves to double the tax on gold imports in that nation will have undoubtedly caused a stutter in this key gold market, it seems unlikely that it will have a lasting effect on demand.

 

"Yes, there has been a hiatus in the gold price advance since September last year. Some will argue that the mid-year surge in price taking it up to the $1900s, at a time when the yellow metal is normally in a weak phase, was way overdone and the ensuing fall back was a natural reaction and predictable. Indeed a number of the more conservative pro-gold commentators, like Nichols, had already suggested there might well be substantial setbacks of this nature, but in the context of a longer term, continuing gold price advance. Obviously we will see if the latest fall is indeed just a correction, or if gold has reached its top for the time being and could collapse further..."

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Home Prices Hit New Lows in Feb: S&P/Case-Shiller - International Business Times

Home Prices Hit New Lows in Feb: S&P/Case-Shiller - International Business Times | Gold and What Moves it. | Scoop.it
The American market for single-family homes fell to new lows in February, but prices declined at a slower rate compared to the previous month, a private report showed Tuesday, as the housing market continues to struggle.

 

by Moran Zhang:

 

"Single-family house prices in a group of 20 metropolitan areas tracked by the Standard & Poor's Case-Shiller composite index fell by 3.5 percent from January, slightly better than the 3.6 percent decline estimated by economists polled by Thomson Reuters. The 10-city composite index fell 3.6 percent.

 

"Fifteen of the 20 major cities saw month-over-month prices improve in February. Atlanta, Chicago, Cleveland and Detroit fared worse, while Washington DC's rate remained unchanged.

 

"While there might be pieces of good news in this report, such as some improvement in many annual rates of return, February 2012 data confirm that, broadly-speaking, home prices continued to decline in the early months of the year," David M. Blitzer, Chairman of the Index Committee at S&P Indices, said in a statement.

 

"Housing has been a main drag on the economic recovery, as homeowners have struggled with foreclosures or mortgage burdens that far exceed the values of their homes..."

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Size Matters A Lot « Jim Sinclair's Mineset

Jim Sinclair writes in regard to the news of China and Iran using gold in oil purchase:

 

"To better understand what China offers to gold, lets reverse the situation. Let us say that China has a means of interfering with the USA’s trade cash settlement mechanism and has threatened to use this interference in order to influence the United States to take such action that the USA does not necessarily wish. The United States announces that on June 28th, more than likely a deadline China has given in this reverse scenario, that the USA will settle all our imported energy costs from Saudi Arabia in gold rather than any other currency.

 

"Consider how important that would be to gold. Think what this means to..." click over for the rest.

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Singapore Inflation Climbs To 5.2% In March Following Credit Growth, Housing Boom

Singapore Inflation Climbs To 5.2% In March Following Credit Growth, Housing Boom | Gold and What Moves it. | Scoop.it
Singapore's inflation rose sharply in March, driven by escalating costs of housing and automobiles, suggesting that the central bank could tighten monetary policy further to prevent overheating, especially in the housing sector.

 

"The consumer price index (CPI) climbed to 5.2 percent in March from a year earlier and core inflation ran at 2.9 percent while wages increased by 6 percent in 2011, data released by the department of statistics showed Monday. The Monetary Authority of Singapore (MAS) expressed worry that tight labor market conditions will keep inflation high in the coming months..."

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For first time since Depression, more Mexicans leave U.S. than enter

For first time since Depression, more Mexicans leave U.S. than enter | Gold and What Moves it. | Scoop.it
A study sees a decline in immigration to the United States from Mexico after tightened border control, increased deportations, a flagging U.S. economy and a declining Mexican birthrate.

 

by Tara Bahrampour:

 

"A four-decade tidal wave of Mexican immigration to the United States has receded, causing a historic shift in migration patterns as more Mexicans appear to be leaving the United States for Mexico than the other way around, according to a report from the Pew Hispanic Center.

 

"It looks to be the first reversal in the trend since the Depression, and experts say that a declining Mexican birthrate and other factors may make it permanent..."

 

{Did that reporter just call this economic trouble a "Depression."}

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Why I’m Deeply Worried About the U.S. Dollar | Uncommon Wisdom Daily

Why I’m Deeply Worried About the U.S. Dollar | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it

"...the very disturbing trend I’ve seen over the last month. It seems that my forecast that Washington and Beijing are in cahoots with each other to further devalue the U.S. dollar is coming to pass.

 

"In just the past month, Beijing has taken one step after another to boost the value of its yuan and to internationalize it — all at the expense of the dollar — without so much as a peep out of Washington...."

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Growth will save us? You bet!

Growth will save us? You bet! | Gold and What Moves it. | Scoop.it

"There are so many reasons for believing that the European ‘recovery’ plan is not working now and will continue to not work no matter how long we are forced to subsidize it. Today we can add one more reason – Mr Francois Hollande is now the favourite to beat Mr Sarkozy and become France’s next President.

 

"The very prospect that Mr Hollande might replace Mr Sarkozy is enough for all the European markets to head straight down. Germany and Spain are both down over 2.7%. Why should this be so? Because Mr Hollande has made it clear he will ‘renegotiate’ France’s role in Europe’s various bail out plans. Any such renegotiation would leave Europe’s bail-out fund fiction in tatters.

 

"Mr Hollande evidently does not believe the pious fiction that underpins almost the whole European and in fact global fiction of recovery, namely that there is now, or will be soon – quite soon, fairly soon, just over the next hill… some growth. Growth is what is supposed to allow Greece to become solvent, allow Spain to cope with the bursting of the dam of regional debt that is presently engulfing its banks and forcing its CDS rates to unsustainable levels. Mr Hollande is the first but will not be the last to say that the growth plan is not working. The Dutch Parliament yesterday collapsed because they too could not agree to go along with the fiction. We do not have growth. What we have are cuts in public spending while we have increases in public funds being siphoned away to pay for more and yet more bank bail outs...."

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Gold, Stocks and Euro All Down after China Manufacturing News, Bullion Refiners “Stocking Up” for Europe but Concerns Over Liquidity “Cap Upside” for Gold | The Daily Gold

Gold, Stocks and Euro All Down after China Manufacturing News, Bullion Refiners “Stocking Up” for Europe but Concerns Over Liquidity “Cap Upside” for Gold | The Daily Gold | Gold and What Moves it. | Scoop.it

"Gold, Stocks and Euro All Down after China Manufacturing News, Bullion Refiners “Stocking Up” for Europe but Concerns Over Liquidity “Cap Upside” for Gold

 

"PRICES TO buy gold bullion on the wholesale market dropped to $1630 an ounce during Monday morning’s London session – a 2.3% drop from where they started the month – while stock markets and industrial commodities also traded lower following the release of preliminary Chinese manufacturing data.

 

“Gold remains in a short-term bear channel,” say technical analysts at bullion bank Scotia Mocatta.

“We would expect a test of support from the long-term uptrend…[which] comes in around $1600.”

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Gordon Chang: China will buy gold to pay for Iranian oil | Gold Anti-Trust Action Committee

Gordon Chang: China will buy gold to pay for Iranian oil | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"Beijing is planning to avoid U.S. financial sanctions on Iran by paying for oil with gold. China's imports of the metal are already large, and you can guess what additional purchases are going to do to prices."

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What are the Key Themes in Gold? - International Business Times

What are the Key Themes in Gold? - International Business Times | Gold and What Moves it. | Scoop.it

by Eric McWhinnie:

 

"The World Gold Council, the global authority on gold and its uses, recently released its overview of the first quarter of 2012. While there are many factors affecting gold these days, the report breaks down three key themes for gold that took place in the first quarter.

 

"It was a challenging quarter for gold due to a pullback in March, but gold prices still finished 8.6 percent higher to reach $1,662.50 by the end of the quarter. Furthermore, gold continues to perform well against all fiat currencies. The WGC explains, “The average price for the quarter was marginally higher than Q4 2011 (+0.2 percent) and 22 percent higher on a year-over-year basis, as drivers of gold demand and supply continued to support its long-term trend. This performance was echoed in all major currencies.” Gold has been on the rise in all currencies, because central banks such as the Federal Reserve, Bank of Japan, Bank of England and the European Central Bank continue to paper over their insolvency problems. On Friday, the IMF officials agreed to nearly double its lending capacity to more than $700 billion. The funds will almost certainty be used for more bailouts in the eurozone in the coming months, as nothing has truly been solved in the debt crisis...."

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Norcini - If History is Any Guide, This is Going to End Badly

Norcini - If History is Any Guide, This is Going to End Badly | Gold and What Moves it. | Scoop.it

With global stock markets trading in the red and continued volatility in gold and silver, today King World News interviewed legendary Jim Sinclair’s chartist, Dan Norcini. Norcini said he is seeing disturbing parallels between what is happening today and what has already taken place in history. Here what Norcini had to say about the situation: “I’ve read the The Decline and Fall of the Roman Empire, by Gibbons, and he might as well have been writing about modern day America. Our financial institutions are completely corrupt.”

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Two views on gold - both positive but.... - GOLD ANALYSIS

Two views on gold - both positive but.... - GOLD ANALYSIS | Gold and What Moves it. | Scoop.it

Two supposedly gold-positive keynote addresses at a London morning gold seminar on Friday differ hugely in their assessment of where the precious metal is headed over the next couple of years

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NJ Father Records Teachers Bullying His Autistic Child

NJ Father Records Teachers Bullying His Autistic Child | Gold and What Moves it. | Scoop.it
A desperate Cherry Hill dad goes to YouTube to expose what he calls bullying from some educators who worked with his autistic son.

 

What is wrong with people today? Good grief. Where is their humanity?

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Rick Rule - Scary Math & The Dow Fall Off a Cliff Here

Rick Rule - Scary Math & The Dow Fall Off a Cliff Here | Gold and What Moves it. | Scoop.it

Today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule is founder of Global Resource Investments, which is part of the $10 billion strong Sprott Asset Management. KWN reached out to Rick to get his take on the decline that is taking place in key markets and what investors should expect going forward. Rule warned about the possibility of a collapse here. This is what Rule had to say: “Investors look at the Dow and the S&P hanging together and it takes their mind off some of the unpleasant facts, such as the debasement of the currency. It takes their minds off of the fact that the government only takes in forty cents for every dollar it spends or that we have $65 trillion of unfunded liabilities going forward.”

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The Implications Of China Paying In Gold « Jim Sinclair's Mineset

A list from Jim Sinclair:

 

"The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold

 

"1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.

 

"2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.

 

"3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference..."

 

Click through for the other six items.

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Sleight-of-Hand Won’t Save Global Financial System

Sleight-of-Hand Won’t Save Global Financial System | Gold and What Moves it. | Scoop.it

With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “The world’s fiat money system is based upon a sleight-of-hand, the most significant magic trick ever invented. The sleight-of-hand begins with the creation of debt, frequently issued by a sovereign entity such as a king or a nation. The debt often starts out being backed by some real asset, such as land in the French Revolution or gold in the case of the U.S. during the early stages of our Federal Reserve System.”

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Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March | ZeroHedge

Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March | ZeroHedge | Gold and What Moves it. | Scoop.it

"While gold demand from the western investors and store of wealth buyers has fallen in recent months, central bank demand continues to be very robust and this is providing strong support to gold above the $1,600/oz level.

 

"IMF data released overnight shows that Mexico added 16.8 metric tons of gold valued at about $906.4 million to its reserves in March.

 

"Russia continued to diversify its foreign exchange reserves and increased its gold reserves by about 16.5 tons according to a statement by its central bank on April 20..."

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THE US DOLLAR EXPERIMENT | The Prospector Blog

THE US DOLLAR EXPERIMENT | The Prospector Blog | Gold and What Moves it. | Scoop.it

"USD Misinformation:

 

"Taxpayers spend 8 to 10 hours per day working to earn dollars (or your currency). The plan is to earn enough, after taxes, to pay bills, buy food and necessities, and hopefully save a few dimes for a rainy day. Now, here is the problem.


"Just over these few minutes it takes to read this post our US Treasury will print (borrow/monetize) $30,000,000 in currency. This means it is highly unlikely you will earn enough dollars to keep up with those willing to print it into a state of worthlessness..."

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53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed

53 Percent Of All Young College Graduates In America Are Either Unemployed Or Underemployed | Gold and What Moves it. | Scoop.it

"If you are in college right now, you will most likely either be unemployed or working a job that only requires a high school degree when you graduate. The truth is that the U.S. economy is not coming anywhere close to producing enough jobs for the hordes of new college graduates that are entering the workforce every year. In 2011, 53 percent of all Americans with a bachelor's degree under the age of 25 were either unemployed or underemployed..."

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oftwominds-Charles Hugh Smith: The Future Is Unknown, But We Know the Unsustainable Will Implode

oftwominds-Charles Hugh Smith: The Future Is Unknown, But We Know the Unsustainable Will Implode | Gold and What Moves it. | Scoop.it

"There are no apolitical “personal choice” acts; there are only profoundly political acts of resistance or complicity.

 

"I don't how the future will unfold, not just because I'm an idiot but because it's unknowable. Though we cannot know the future, we do know two very important things: 1) that which is unsustainable will implode, and 2) the present Status Quo is unsustainable.

 

"That ultimately leaves us with a single question: what are we going to do about it?In my view, it's not important that we agree on solutions--agreement would in fact be a catastrophe, for dissent and decentralization are the essential characteristics of any sustainable "solution." What is important is that we realize the future boils down to a simple choice: do we passively comply with the Status Quo feudalism or do we resist?..."

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Near Record High Gold/XAU Ratio Prompts Buying in Gold Equities | GoldAlert

Near Record High Gold/XAU Ratio Prompts Buying in Gold Equities | GoldAlert | Gold and What Moves it. | Scoop.it

"At its current level of 10.2, the gold/XAU ratio reached its highest point since the depths of the 2008 financial crisis; the ratio’s all-time high occurred on October 24, 2008, at 10.72.

 

"In light of these developments, noted investment manager John P. Hussman, Ph. D. recently added to his fund’s position in gold equities.

 

“In Strategic Total Return, we raised our exposure in precious metals shares to about 12% of net assets in response to recent price weakness in that sector,” Hussman wrote in his latest Weekly Market Comment."

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Jesse's Café Américain: Banking On Fear: Why the Policy of Stuffing the Banks With Money Does Not Help the Real Economy

Jesse's Café Américain: Banking On Fear: Why the Policy of Stuffing the Banks With Money Does Not Help the Real Economy | Gold and What Moves it. | Scoop.it

"The big banks are buying up what they call fixed income instruments (bonds and other debt backed paper) and at the same time offering CDS insurance on the same. Just like they bought and sold protection on mortgages..."

 

"This is a fairly good description of why the policies of Bush and Obama have failed to effect an economic recovery.

 

"The policy of 'saving the banks' first and foremost, and of stuffing them with cheap money in the hopes that they will stimulate the real economy with loans, is a cruel hoax.

 

"Cheap money is hot money and it seeks high beta returns. It does not seek investment with returns over long periods of time. And in an environment of lax regulation and little deterrence for abusive financial practices, one sets up a scenario ripe for fraud and another, more chilling, financial collapse.

 

"And the problem is not in the US alone. Europe and the UK are following similar practices, of serving the financial elites first, and the people very little or not at all.

 

"There will be no sustainable recovery until..."

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Councilman Proposes Ads On Fire Trucks

Councilman Proposes Ads On Fire Trucks | Gold and What Moves it. | Scoop.it
With a $48 million budget shortfall for the city, one councilman has an idea that he says will help the deficit: putting advertisements on fire trucks.

 

{I've seen this movie. Didn't it involve Robots running wild?}

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As investors lose faith in dollar gold will win out - GOLD ANALYSIS

As investors lose faith in dollar gold will win out - GOLD ANALYSIS | Gold and What Moves it. | Scoop.it

by Jeffery Nichols:

 

"Gold has been somewhat of a disappointment to many analysts and investors who, as of a few months ago, were still anticipating higher prices again this year. But the year is not over, nor is gold's long-term secular bull market.


"With eleven years of advancing prices already chalked up on the scoreboard, the long-term secular upswing has five-to-ten years of life still ahead - and maybe more. Along the way, expect continuing volatility, periods of consolidation, and occasional corrections, corrections sometimes so severe that some will prematurely and incorrectly call the game over.

 

"We are now in one of those periods of consolidation when the market takes a breather and adjusts internally, preparing for the next major move. So far this year, the yellow metal has traded well beneath its all-time high of $1,924 an ounce recorded this past September 6 and well above its subsequent low near $1,520 in late December..."

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