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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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Turk: Important Chart Suggests Massive Move for Silver & Gold

Turk: Important Chart Suggests Massive Move for Silver & Gold | Gold and What Moves it. | Scoop.it

Interesting analysis using Apple stock:

 

With continued volatility in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk included an extremely interesting chart for this interview. He discussed gold, silver, the mining shares and importantly, what to expect this summer. Here is what Turk had to say about the recent action in gold and silver: “The odds are improving that both gold and silver made an important low last week, Eric. I particularly like two things that happened last Thursday. First, gold jumped more than 1%, which is the limit regularly being imposed by the traders using mathematical algorithms in their attempt to cap the gold price...” 

 

"...What I have done is overlaid the silver price on Apple's share price, but lagged silver by 40 months. The purpose is to show the big correction in Apple back in 2007-2009 and compare it to silver's present correction, which is the area I have circled. Who, back then, would have thought shares of Apple would climb from $80 to over $600? When the strength of a major bull market is viewed this way, my long-term target of $400 for silver looks quite reasonable. More importantly, I think the underlying fundamentals also make that target reasonable...."

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Defriended gold still has room to run - Holmes

Defriended gold still has room to run - Holmes | Gold and What Moves it. | Scoop.it

by Frank Holmes:

 

"...While gold may not go up vertically from here-as frequent readers know, the yellow metal historically has fallen in June and July-with the extraordinary events occurring in Europe, I believe investors will soon "friend" gold once more. As we wait for the central banks around the world to act, I encourage investors to consider dollar-cost averaging. It's a way to stay invested, and more importantly, to avoid making emotional investment decisions...."

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Answer to the Most Important Question Facing Investors Today

Answer to the Most Important Question Facing Investors Today | Gold and What Moves it. | Scoop.it

Investors around the world are asking the critical question, do we have inflation or deflation immediately in front of us? Today Michael Pento, of Pento Portfolio Strategies, writes exclusively for King World News to let readers know exactly where we are in the ongoing and epic battle of inflation vs deflation. This is the single most important question facing investors around the world at this moment. Here is what Pento had to say about the situation: “We now live in a world where deflation has become public enemy number one. In this current economic environment, governments seek a condition of perpetual inflation in order to maintain the illusion of prosperity in the developed world. But in reality, deflation is the free-market approach to rectify a secular period of superfluous money supply growth, debt accumulation and asset price appreciation.”

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Greyerz - Customer Shocked “Allocated” Gold Not in Swiss Bank

Greyerz - Customer Shocked “Allocated” Gold Not in Swiss Bank | Gold and What Moves it. | Scoop.it

from Von Greyerz on King World News:

 

"We are stressing to investors to take their gold out of the banking system, not only because there are runs on banks that will continue, but the risk of being in the banking system is major. So you should take the additional step of not just owning physical gold, but also owning it outside of the banking system.

 

"We (just) had an example of a client moving a substantial amount (of gold) from a Swiss bank to our vaults, and we found out the bank didn’t have the gold. This was supposed to be allocated gold, but the bank didn’t have it. We didn’t understand why there was a delay (in our vaults receiving the gold), but eventually we found out why there was a delay (the bank didn’t have the gold). It’s absolutely amazing, but not surprising.

 

"This confirms what I’ve always thought. Not only should you not have gold in banks or even unallocated gold, but even allocated gold. It seems that some banks don’t even possess that. So the risk of having gold in the banking system is major.”

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Trader Dan's Market Views: Whistling Pass the Proverbial Graveyard

Trader Dan's Market Views: Whistling Pass the Proverbial Graveyard | Gold and What Moves it. | Scoop.it

From Trader Dan Norcini:

 

"European leaders are going to go at their problems by employing a 'GROWTH' strategy and are moving away from 'AUSTERITY'.

 

"NOTE: INSERT MELODY HERE TO AID WOULD-BE WHISTLERS AS THE AIR RUSHES PAST THEIR LIPS".

 

"Why not just cut the crap and state the obvious - these short-sighted politicians and monetary officials will do anything to prevent themselves from getting booted out of office by a public ADDICTED TO GOVERNMENT SPENDING. Look at what happened to Sarkozy. He was replaced by a Socialist who LOVES DEBT AND MORE TAXES to apparently try to fund it all..."

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Iraq Meeting Will Decide War | Greg Hunter’s USAWatchdog

Iraq Meeting Will Decide War | Greg Hunter’s USAWatchdog | Gold and What Moves it. | Scoop.it
Greg Hunter’s USAWatchdog.com 

 

The meeting, this week, in Iraq to negotiate Iran’s nuclear program will decide whether or not the world will go to war. The meeting is between the East (Iran, China and Russia) and the West (U.S., UK, France and Germany). If the meeting goes well, war will be avoided. If the meeting goes badly, the world will be heading for war. If yesterday’s CNN interview with Iran’s Finance Minister, Shamseddin Hosseini, is any indication, the upcoming meeting will be a disaster. When asked if Iran would allow inspectors to scrutinize all its nuclear facilities, Hosseini said, “There are conversations and dialogues taking place currently, but there cannot be a hegemony and a double-standard in the treatment of member countries such as Iran. If these principles can be understood and applied with mutual respect, I think we will be in a much better place. If we don’t, we will witness an increase in international oil markets.” (Click here to see the complete CNN story.) In other words, he sidestepped the question and gave no indication total access by inspectors would be a possibility...

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Agnico CEO Calls for $3,000+ Gold for the First Time Ever

Agnico CEO Calls for $3,000+ Gold for the First Time Ever | Gold and What Moves it. | Scoop.it

Sean Boyd tells KingWorldNews:

 

"All of the things that are happening now, when you look at it, just points to a stronger gold price longer-term. But we are in a period of (recent) weakness and (high) volatility right now. With all of the volatility it’s sort of hard to look through that to the underlying things which underpin the market.

 

"You look at the fact that India and China took down 55% of mine supply last year, that’s a big number. That number has been growing steadily over the last few years and will likely continue to grow. So you’ve got strong demand coming out of that part of the world. As gold prices go up, you are not going to see a huge increase in supply...."

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The message no one wanted to hear

The message no one wanted to hear | Gold and What Moves it. | Scoop.it
Events of the past dozen years clearly show that America’s adversaries have gained ground in non-military ways.
Could the 9/11 terror attacks, high gas prices, market volatility and the U.S.

 

by Kevin D. Freeman:

 

"In 1999, two Chinese colonels, Qiao Liang and Wang Xiangsui, wrote a groundbreaking book titled “Unrestricted Warfare” that was published by the People’s Liberation Army (PLA) Press. They begin the book with the simple acknowledgement that the Gulf War of 1991 changed warfare forever. Desert Storm was an overwhelming, all-encompassing victory against what had been considered one of the greatest military powers in the world, and it was accomplished in a mere 42 days. The key, of course, was the substantial technological superiority of the Americans. This victory shocked the Chinese to the core. They no longer had delusions that they could win in a direct military confrontation with the United States. They realized that “war by other means” would be necessary.

 

"The book identifies some of these other means, including:

 

"Financial warfare (manipulation of currencies, banks and the stock market),

 

"Technological warfare (gaining primary control of various technologies),

 

"Resources warfare (manipulating the price of, or access to, key resources),

 

"Network warfare (control of the Internet and real-time communication), and

 

"Economic aid warfare (controlling other nations by creating economic dependencies).

 

"There should be little doubt that the work of the two colonels has been followed carefully by the PLA in determining means of engagement. In fact, the book has become the de facto manual for economic warfare worldwide..."

 

Hat tip to Peter Grandich. http://www.grandich.com/2012/05/the-message-no-one-wanted-to-hear/ 

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Planetary Resources doesn’t want more people onboard of its asteroids-mining ship | MINING.com

Planetary Resources doesn’t want more people onboard of its asteroids-mining ship | MINING.com | Gold and What Moves it. | Scoop.it

by Cecilia Jamasmie:

 

"Less than a month after officially launching its asteroid-mining plans, Google’s billionaire co-founders and filmmaker James Cameron’s owned company Planetary Resources, has already decided not to accept any more job applications.

 

"In the careers section of its website, the company – founded about three years ago, but operating behind the scenes until last month- says it has received more than 2,000 applications since the launch on April 24 and that are not currently accepting applications for full-time employees, summer internships or student co-ops..."

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NEWS PUSHING GOLD & SILVER HIGHER | The Prospector Blog

NEWS PUSHING GOLD & SILVER HIGHER | The Prospector Blog | Gold and What Moves it. | Scoop.it

"You read it everyday but few connect the dots to a lift in precious metals. I see them, hopefully you do too, the problem is the masses do not. Today I want to include not only what I view as news worthy events but events soon to project silver and gold out of reach for most in the middle class. Once again, I don’t believe one particular event will send metal beyond what most view as unimaginable. Accumulation of multiple events will ultimately push, or influence, your PM (precious metal) higher..."

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Major Long-Term Bottoms Forming in Gold and Commodities | Toby Connor | Safehaven.com

Major Long-Term Bottoms Forming in Gold and Commodities | Toby Connor | Safehaven.com | Gold and What Moves it. | Scoop.it
Once every year gold and stocks form a major yearly cycle low. Commodities form a major cycle bottom every 2 1/2 to 3 years. Every once in a while all three of these major cycles hit at the same time.
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Eric Sprott - Governments Frightened of Panic Liquidation Event

Eric Sprott - Governments Frightened of Panic Liquidation Event | Gold and What Moves it. | Scoop.it

Eric Sprott tells King World News:

 

"Ever since we saw what happened when Lehman was liquidated, they realized we can’t go there. Fannie was taken over as well as AIG and GM to prevent this liquidity event. But I think the market is just liquidating, irrespective of whether the powers that be want it or not.

 

"I just think that process is picking up into a tsunami and the world is going to start focusing back on precious metals. We’ve had one Minsky moment in Greece and we’re going to have another one..."

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Gold Price Climbs Further, Has It “Turned the Corner”? - International Business Times

Gold Price Climbs Further, Has It “Turned the Corner”? - International Business Times | Gold and What Moves it. | Scoop.it

"Analysts at UBS wrote in a note to clients that “Yesterday, gold defied a stronger dollar, weaker equities, and another raft of negative EU headlines (to rise). It felt like the gold market of yesteryears.” The firm went on to say that “To see a return of gold reacting positively to macro stresses is indeed refreshing, but it is still far too early to make any firm conclusions from here that gold has indeed turned the corner. Momentum will be key, and follow-through buying will have to kick in to encourage investors to jump in.”

 

"Nick Moore, a commodity analyst at Royal Bank of Scotland, stated on Thursday that “This is a value buy; in volatile times people go back to the charts…We have had a sharp selloff which has uncovered the value of the metal and people are seeing $1,530 as an attractive entry point for gold.”

 

"Silver climbed alongside the price of gold this morning, by $0.46, or 1.6%, to $28.53 per ounce. Other precious metals posted more modest gains, with platinum futures up by 0.3% at $1,458.10 per ounce and palladium higher by 0.2% at $607.00 per ounce. Cyclical commodities were mixed, with crude oil futures down 0.8% at $92.22 per barrel while copper rose 0.5% to $3.49 per pound..."

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IMF's Christine Lagarde tells UK: 'Growth Too Slow' [NEWS VIDEO]

IMF's Christine Lagarde tells UK: 'Growth Too Slow' [NEWS VIDEO] | Gold and What Moves it. | Scoop.it
The British government and the Bank of England must do much more to stimulate growth in the country's economy, the IMF's Christine Lagarde said.

 

Speaking at the annual review of the British economy in London, IMF Managing Director Christine Lagarde warned the country that action must be taken to boost productivity and reduce unemployment.

 

"Unfortunately the economic recovery in the UK has not yet taken hold and uncertainties are abound. The stresses in the euro area affect the UK in many channels. Growth is too slow and unemployment, including youth unemployment, is too high. Policies to bolster demand before low growth becomes entrenched are needed."

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Not-so-happy Tuesday

Not-so-happy Tuesday | Gold and What Moves it. | Scoop.it

by TF Metals:

 

"Just some wild-eyed speculation here so proceed at your own risk.

 

"Recall first the concept of "Happy Tuesday". The idea behind it is this: After a week of downside manipulation, The Cartels attempt to "cover their tracks" ahead of the CoT survey each Tuesday. The Cartel short-covering (buying) on Tuesdays would often lead to UP days, thus the term "Happy Tuesday". Pondering this yesterday, I came up with the idea that today would be a DOWN day. Why? The opposite effect, actually. The short squeeze in gold of late last week was likely initiated by new longs being added by The Cartel and their buddies. Yesterday and today, in order to "cover their tracks" and not make this week's CoT appear even more bullish, selling ensues. Ring the register, book some profits and paint the CoT, all in one move.

 

"It looks like we have seen just that overnight and this morning. In fact, there even appears to have been some brazen attempts to jam price lower and back down through the 10-day MA. It didn't work...so far...but that doesn't mean they won't try again, especially after the London PM fix at 10:00 am EDT. It's the area around 1575 that they might be shooting for so let's watch that number closely later today..."

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Trader Dan's Market Views: Gold attempting to get to that "16" Handle

Trader Dan's Market Views: Gold attempting to get to that "16" Handle | Gold and What Moves it. | Scoop.it

by Trader Dan Norcini:

 

"...Right now there is a general hesitation to get too aggressive as there is yet another, (sigh!) summit this week in Europe, this time in Brussels on Wednesday, where the market will have to digest whatever fodder these clowns want to utter. Look for more of the same talk that we got from this weekend's gathering in Chicago - namely - growth instead of austerity which translates to money printing.

 

"At some point this will have the anticipated inflationary impact but not until we see something actually take place besides more talk. The moment, and I do mean the moment, we get confirmation that the ECB and the Fed are going to do the only thing that they can do, gold will move higher and start another leg in an uptrend. Until then we may have to be content with it marking some time here and allowing dip buyers to come in at appropriate moments barring some unexpected news..."

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What Volume Tells Us about Gold Stocks - Casey Research

What Volume Tells Us about Gold Stocks - Casey Research | Gold and What Moves it. | Scoop.it

by Jeff Clark:

 

"I've read articles from more than one analyst claiming that gold stocks are down on low volume, implying there's a lack of interest in precious metals. While on the surface that seems like an obvious statement, their point is that most of the recent volume has been coming from sellers and thus exaggerating the recent decline.

 

"I decided to test this hypothesis, because if correct, it has investment implications, starting with the fact that at some point you run out of sellers; and if and when buyers return, the ensuing rise could be spectacular.

 

"I also wanted to compare volume now to the waterfall decline in 2008. If volume is starting to spike now like it did then, it might give us some additional clues about our current environment and what to expect going forward..."

 

click over for the rest of the analysis.

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Silver a great business to be in for the next 50 years at least

by Geoff Candy:

 

"Speaking on Mineweb's Metals Weekly podcast, Baker said the silver market today can best be compared to where it was 100 years ago, when photographic demand was just beginning to grow.
"Hecla has been a silver mining company for 120 years - it was a great business to be in until the early 1980s and it was a terrible business to be in for the next 20 years. We're now back in a phase where it will be a great business to be in for the next 50 years at least."


"According to Baker, the reasons for this prediction are two-fold. The first is that silver's unique properties mean that its uses in various forms of technology are growing significantly..."

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Trader Dan's Market Views: China flips the Finger to Wall Street

Trader Dan's Market Views: China flips the Finger to Wall Street | Gold and What Moves it. | Scoop.it

Trader Dan on the China US Treasury news:

 

"...My guess is that the Chinese were sick and tired of being front-run by these unscrupulous banks and issued a stern but quiet demand to either allow them to go this route, OR ELSE!

 

"This further underscores the fact of the growing economic clout of China and just how utterly dependent our nation has become on its funding of our outrageous and downright contemptible indebtedness..."

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Gold bushwhacks bears Peter Brimelow

Gold bushwhacks bears Peter Brimelow | Gold and What Moves it. | Scoop.it

by Peter Brimelow:

 

"...The far-sighted Australian bullion commentary The Privateer thinks something really significant has happened.

 

"This weekend it observed: “What is interesting about the snap-back this week — in both the physical and paper forms of gold, including gold stocks — is that gold has once again started to rise, while other asset markets (especially stock markets) are still falling.”

 

"Another positive voice, from an unusual source, is veteran gold analyst Frank Veneroso.

 

"As I noted during last Christmas’ gold gap-down, Veneroso earned an important place in gold-market history for conceptualizing, in the 1990s, the importance of Eastern physical demand to the gold price, then a new factor. But for several years he had dismayed gold bugs by ignoring the metal..."

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Exclusive: U.S. lets China bypass Wall Street for Treasury orders

Exclusive: U.S. lets China bypass Wall Street for Treasury orders | Gold and What Moves it. | Scoop.it
NEW YORK (Reuters) - China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S.

 

ROFL

 

What's Chinese for, "Yes, master."

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18 Signs That The Banking Crisis In Europe Has Just Gone From Bad To Worse

18 Signs That The Banking Crisis In Europe Has Just Gone From Bad To Worse | Gold and What Moves it. | Scoop.it
With each passing day, the banking crisis in Europe escalates.  European banks are having their credit ratings downgraded in waves, bond yields are soaring and...

 

#1 Moody's has announced that it has downgraded the credit ratings of 16 Spanish banks. Included was Banco Santander, the largest bank in the eurozone.

 

#2 Shares of the fourth largest bank in Spain, Bankia, dropped 14 percent on Thursday.

 

#3 Overall, shares of Bankia have declined by 61 percent since last July.

 

#4 Shares of the largest bank in Italy, Unicredit, dropped by about 6 percent on Thursday.

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oftwominds-Charles Hugh Smith: We Have Reached Peak Government

oftwominds-Charles Hugh Smith: We Have Reached Peak Government | Gold and What Moves it. | Scoop.it

by Charles Hugh Smith:

 

"...Most informed people are familiar with the concept of Peak Oil, but fewer are aware that we’re also entering the era of Peak Government. The central misconception of Peak Oil -- that it’s not about “running out of oil,” it’s about running out of cheap, easy-to-access oil -- can also be applied to Peak Government: It’s not about government disappearing, it’s about government shrinking.

 

"Central government -- the Central State -- has been in the expansion mode for so long that the process of contracting government is completely alien to the nation, to those who work for the State, and to those who are dependent on the State. Thus we have little recent historical experience of Peak Government and few if any conceptual guideposts to help us understand this contraction.

 

"Peak Government is not a reflection of government services or the millions of individuals who work in government; it is a reflection of four key systemic forces that drove State expansion are now either declining or reversing.

 

"The Four Key Drivers of State Expansion..."

 

Click through for the rest. And would say that you should consider buying Mr. Smith's book.

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Gold Remains in a Long Term Uptrend! | David Chapman | Safehaven.com

Gold Remains in a Long Term Uptrend! | David Chapman | Safehaven.com | Gold and What Moves it. | Scoop.it

by David Chapman:

 

"...Whenever a crisis arrives the rush appears to be into US$ but once the crisis abates or lessens the euro tends to strengthen. But will that trend continue? Somehow there is a belief that if there is a financial crisis one should buy US$ and US Treasuries and dump gold, with gold being viewed as the more risky asset. Of course that doesn't make any sense but it is what is happening. The same thing appears to be happening again as the current financial crisis hits Europe this time.


"However, not everyone thinks that way. What is getting sold during the crisis is paper gold (futures and other derivatives) and not physical gold. Because the paper gold market is so much larger than the physical market, it tends to overrun the physical market. But even as it has been doing so, there has been strong evidence that physical gold is being purchased. According to SEC filings George Soros has significantly increased his shares in the SPDR Gold Trust (GLD-NYSE), quadrupling his holdings in the first quarter of 2012..."

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Jump in Gold as France Refutes EU Pact, Portuguese Contingency Rumored, Chinese Demand Overtakes India | The Daily Gold

Jump in Gold as France Refutes EU Pact, Portuguese Contingency Rumored, Chinese Demand Overtakes India | The Daily Gold | Gold and What Moves it. | Scoop.it

by the Adrian Ash:

 

"...Commeting on gold’s 20% drop from last summr’s all-time highs, “I believe gold will become a haven again, especially if you see fragmentation in the Eurozone,” said the World Gold Council’s Marcus Grubb to Bloomberg TV this morning, launching market-development group’s latest Gold Demand Trends report.

 

“Because then you’re going to get currency depreciation, you may get inflation in some countries, deflation in others…and you’ll see gold’s attributes as a hedge come to the fore.”

 

"In the first quarter of 2012, global gold investment demand rose 13% by weight and 38% by Dollar value from the Jan-March period last year, says the report. In the jewelry sector, “Gold is underpined now by two large markets and China is playing catch up to India,” says Grubb, also speaking to Reuters this morning.

 

“Per capita gramme consumption rates are rising in China...”

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