Gold and What Moves it.
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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Why Gold Could Be Setting Up For A Killer Comeback - Forbes

Why Gold Could Be Setting Up For A Killer Comeback - Forbes | Gold and What Moves it. | Scoop.it
Intense political risk in Europe, on the back of the French and Greek elections, along with a substantial slowing of the economic recovery in the U.S., evidenced by recent jobs weakness, have once again created a favorable environment for gold.

 

by Agustino Fontevecchia:

 

"The stars could be aligning for gold to return to its decade-long bull run, recently punctuated by sideways trading over the last couple of months. The yellow metal is getting murdered on Tuesday, down more than $40 in New York, but an intense resurgence of political risk in Europe and a couple of months of weak jobs numbers in the U.S. put stimulus definitely back on the table: safe-haven flows, currency debasement, all of these are gold-positive.

 

"Add anti-austerity gaining ground in Europe and the abolishing of a gold excise duty in India (the world’s largest gold importer), and you have an even more favorable environment for the yellow metal...."

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Leeb - We Will Now See a Gold Standard Imposed in Europe

Leeb - We Will Now See a Gold Standard Imposed in Europe | Gold and What Moves it. | Scoop.it

from Stephen Leeb on King World News:

 

"You are going to have a lot of currency devaluation. You are also going to see massive inflation. Everybody knows what that means for gold.

 

"So you are in the last hours of turbulence for the gold market (to the downside). Once this correction ends, you are going to have a barnburner to the upside. Gold will just vault. I don’t think investors will even remember these frustrating days. I had been warning we could see this drop in gold because of the problems in Europe, but investors should take advantage of it.

 

"Look at what China is doing. China is buying gold hand over fist right now. They are going to move the yuan forward as the world’s reserve currency and it’s going to be partially backed by gold. The world can also expect to see a gold standard imposed on Europe in the next 12 to 18 months..."

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Embry - There Is a War Going on Because Fiat Money Is Dying

Embry - There Is a War Going on Because Fiat Money Is Dying | Gold and What Moves it. | Scoop.it

With global stock markets plunging, along with gold and silver, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN “There is a war going on right now” because “the pure fiat currency system is on its last legs.” Embry also said “Europe is in desperate shape” and the implications are “horrific” if the US dollar loses its reserve status. Bur first, here is what Embry had to say about gold: “Gold is falling because the powers that be, with their paper shenanigans, are knocking the hell out of it. We see tremendous physical demand. Massive amounts of gold are going through Turkey, into the Middle-East. Chinese imports are strong. To me that’s the ultimate antidote.”

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U.S. Millionaires Told Go Away as Tax Evasion Rule Looms

U.S. Millionaires Told Go Away as Tax Evasion Rule Looms | Gold and What Moves it. | Scoop.it

by Sanat Valikappen:

 

"That’s what some of the world’s largest wealth-management firms are saying ahead of Washington’s implementation of the Foreign Account Tax Compliance Act, known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts. HSBC Holdings Plc (HSBA), Deutsche Bank AG, Bank of Singapore Ltd. and DBS Group Holdings Ltd. (DBS) all say they have turned away business.

 

"I don’t open U.S. accounts, period,” said Su Shan Tan, head of private banking at Singapore-based DBS, Southeast Asia’s largest lender, who described regulatory attitudes toward U.S. clients as “Draconian.”

 

"The 2010 law, to be phased in starting Jan. 1, 2013, requires financial institutions based outside the U.S. to obtain and report information about income and interest payments accrued to the accounts of American clients. It means additional compliance costs for banks and fewer investment options and advisers for all U.S. citizens living abroad, which could affect their ability to generate returns..."

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Answering The Cries For Help « Jim Sinclair's Mineset

From the desk of Jim Sinclair:

 

"My Dear Extended Family,

 

"Today has been interesting in a perverse way. I have heard from every gold short who knows my name. I have heard from every weak gold holder that knows my name yelling for help. This time I cannot answer all the incoming communications. Nobody could.

 

"A month ago I got over 3500 incoming emails in less than three hours. The shorts exulting by email really cannot expect an answer. Even the weak gold and frustrated gold share holders cannot expect me to assuage their pain one at a time. The reason is it is always the same people pushing the panic button.

 

"I fully expect Alf Fields to be proven correct. As of today nothing he has said is wrong. He feels the gold price has bottomed in this reaction. That is yet to be proven incorrect.

 

"The US dollar is not putting on a grand performance today. The US economy is not going to support the sitting Administration’s desire for another 4 years. QE to infinity is certain even today.

 

"There is a global stock market sell off today which is totally unacceptable as it pertains to the US market in an election year. Liquidity floats all boats and all boats are screaming for that liquidity today.

 

"The cash market continues with its brake on the fully out bearish algorithms attacking the paper gold market.

 

"Re-read the recent interview I did in Futures Magazine as it covers all relevant to gold fundamental issues. Like all other reactions in gold since $248, this will end, and gold will again go to new highs.

 

"Gold companies with 43-101 certified resources that are growing are calls on the gold price that have no end in terms of time.

 

"If you cannot stand the heat you must get out of the kitchen. If you can stand the heat, I firmly believe we will prevail and be rewarded in shares and gold itself.


"Please accept this as what I would have told you on the phone. Please accept this as the answer to your cries for HELP by fax and emails as no one can answer this many emails and faxes.

 

"If after you review the fundamentals in Futures Magazine you agree there is no change, buck up your courage and stop watching prices. They will get better as soon as the algorithms do not get their way and mindlessly reverse themselves.

 

"Nothing is better for gold than an implosion on the Dow as it is intolerable to the PPT. That is where the Fed’s and Administration’s head is at. Liquidity floats all boats. The Administration controls the Fed under such circumstances. In the entire history of the Fed, they have never failed a sitting administration.

 

"Respectfully,
Jim"

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China Uses Yuan, Gold To Pay For Some Iran Crude

China Uses Yuan, Gold To Pay For Some Iran Crude | Gold and What Moves it. | Scoop.it
Source: NASDAQ China is using its currency, the yuan, and gold to pay for some of its imports of Iranian crude oil, according to Iran trade professionals.
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Eric De Groot: Invisible Hand Smiling Again

Eric De Groot: Invisible Hand Smiling Again | Gold and What Moves it. | Scoop.it

by Eric De Groot:

 

"The invisible hand which repositioned for a paper attack in gold and silver weeks ago is smiling again today. Its relentless effort to cover its short position here and now suggests something big on the horizon.

 

"The current decline will end when either the paper supply positioned weeks in advanced is consumed by new paper demand, thus, rearranging control of the trend from weak to strong hands, or physical demand swamps paper supply. Today's decline under a general backdrop of panic suggests the former..."

 

Click through for the rest of his analysis.

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WIPED OUT (without gold) | The Prospector Blog

WIPED OUT (without gold) | The Prospector Blog | Gold and What Moves it. | Scoop.it

TheProspectorSite.com:

 

"Don Stott with Colorado Gold said something in his interview that made me realize how bad this lack of money understanding is today. He said, “ The average Representative or Senator hasn’t a clue about basic economics. All they want is to stay in office, and when they come up for re-election, their opposition will quote verbatim their votes on handouts.”

 

"If Don is right, and I believe he is, are we safe to say leaders of this great country strive to keep constituents in the dark, almost like moist mushrooms? But wait a second, maybe the economic ignorance goes beyond maliciousness, maybe these guys actually have no clue how truly destructive debt and debasement are.


"Something said in August, 2011 made me stand on my living room couch and shout back at my TV. The discussion was over raising the debt ceiling, again, and President Obama proved to all listening exactly how much he knows about ill effects of debt. He said, “Hey, I don’t want to be standing here talking about the debt ceiling, I would rather be talking about a new program or sports..."

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Trader Dan's Market Views: HUI Chart and Comments

Trader Dan's Market Views: HUI Chart and Comments | Gold and What Moves it. | Scoop.it

by Dan Norcini:

 

"The HUI is reeling once again as it continues losing value against the price of an ounce of gold bullion. The index has fallen below chart support at the round number of 400 and is currently near the lows of the day as I write this.

 

"As you can see from the following chart, it is approaching what I consider to be one of the most significant levels of chart support from a technical analysis perspective, and that is the critical 50% Fibonacci retracement level..."

 

Click through for his analysis

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The Fiat-Conversion Price

The Fiat-Conversion Price | Gold and What Moves it. | Scoop.it

by T F Metals:

 

"DO NOT CONVERT YOUR METAL BACK INTO FIAT CURRENCY. BY DOING SO, YOU WILL SACRIFICE THE ONLY FINANCIAL INSURANCE AND PROTECTION YOU HAVE AGAINST THE COMING COLLAPSE. CONTINUE TO USE THIS AND ALL FUTURE PERIODS OF PAPER PRICE WEAKNESS TO PURCHASE ADDITIONAL METAL AND TAKE DELIVERY."

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Gold is at or Very Near, a Long-Term Bottom :: The Market Oracle :: Financial Markets Analysis & Forecasting Free Website

by Toby Connor:

 

"It’s been made painfully clear that Bernanke is not going to tolerate a rising dollar, at least not for very long. Cycles are still working, and still generating bounces out of daily cycle lows, but they are never allowed to get any traction before the next beat down starts.

 

"I would say there’s a pretty good chance that today’s reversal is signaling that the current daily cycle topped on day four, and the pattern of lower lows and lower highs is still intact.

 

"Presumably the dollar will now start to decline and penetrate the May 1st intraday low before the next significant bounce. The daily cycle timing bands have adhered pretty closely to standard durations in the dollar index. I don’t see any indication that has changed, so we can probably expect the next significant bounce sometime around the last week of May..."

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Trader Dan's Market Views: Silver Chart and Comments

Trader Dan's Market Views: Silver Chart and Comments | Gold and What Moves it. | Scoop.it

by Dan Norcini:

 

"Silver is being pummelled today, along with just about every other single commodity on the planet, as the combination of the Socialist win in France along with the results of the Greek elections, has traders running away from growth assets and into the "safety" of US Treasuries ( I still have trouble saying those words in the same sentence).

 

"Many are fearing that Greece will not be able to hobble together a governing coaltion in time ot meet the detail for their loan bailout package..."

 

click over for the rest of the analysis.

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"Uncivilized" China Quietly Building Gold Reserves As Gold Imports From HK Soar By 587% In First Quarter | ZeroHedge

"Uncivilized" China Quietly Building Gold Reserves As Gold Imports From HK Soar By 587% In First Quarter | ZeroHedge | Gold and What Moves it. | Scoop.it

by Tyler Durden:

 

"...The purchases through Hong Kong may signal that the mainland is accumulating reserves, London-based brokerage Sharps Pixley Ltd. said in February. The nation last made its reserves known more than two years ago, stating them at 1,054 tons." Yep ladies and gents: the PBOC is very grateful that it can add hundreds of tons of gold to its reserve holdings in a stealthy operation which it will announce only after its conclusion, at which point, like true 13F chasing lemmings, retail will send gold soaring. But in the meantime, dear hedge funds worried about your margin calls and 1 month performance reports, please proceed calmly along with the lemming herd, and keep pushing gold lower and cheaper for our new Chinese overlords, and for everyone else who, without P&L timing constraints, takes delight in such brief arbitrage opportunities..."

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#Gold touches 4-month lows as crisis knocks #Euro

#Gold touches 4-month lows as crisis knocks #Euro | Gold and What Moves it. | Scoop.it

by Amanda Cooper:

 

"Gold fell for a third day on Wednesday, touching a four-month low and all but wiping out its gains for the year as the escalation in the euro zone debt crisis prompted investors to favour dollars and German government bonds as safe-havens.

 

"Political disarray in Greece, a change in the French presidency and renewed concern about the resilience of the Spanish banking sector sent the euro to a 15-week low against the dollar and propelled German bond futures to record highs.

 

"Spot gold was down 1.2 percent on the day at $1,585.01 an ounce at 0940 GMT, having lost more than 3 percent so far this week in its largest weekly slide since mid-March.


"It's not as though the escalation of the political risk in Europe is doing anything positive for gold prices at all and this is totally different to how we were between 2008 and 2010, when all the correlations were totally reversed and the weakening of the euro actually led to a strengthening in the gold price," Natixis head of commodity research Nic Brown said...."

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United States Budget Dilemma

Alarming! Washington's dilemma. Soaring debt and a budget congress can't balance! This video will explain WHY. Every person in AMERICA should watch this video!

 

Hat tip to Peter Grandich http://grandich.com 

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John Hathaway Calls a Market Bottom - Casey Research

John Hathaway Calls a Market Bottom - Casey Research | Gold and What Moves it. | Scoop.it

"Louis James: Ladies and gentleman, thanks for tuning in. We're at the Casey Research Recovery Reality Check Summit. We're talking with John Hathaway, one of the more successful fund investors – institutional investors – in our precious metals field near and dear to my heart. John, can you give us a quick version of what you talked about here, for those who didn't make it to the conference?

 

"John Hathaway: Sure, yes. I think we're at the end of a correction that resulted from the peak last summer. It was overcooked, kind of hyperventilated hysteria over the debt-ceiling talks, the rating downgrade of the US sovereign debt, and I think basically the stocks and the metal had been working off that boiled down to what we now have is a simmer. I think we are at a position where there's not a lot of downside, and I would not be surprised by revisiting the previous highs of $1,900 and maybe even new highs over $2,000 this year..."

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Meet the Greek Leader Who Sent Global Markets Reeling

Meet the Greek Leader Who Sent Global Markets Reeling | Gold and What Moves it. | Scoop.it

by Michelle Caruso-Cabrera:

 

"The man behind much of Tuesday’s market selloff is a 37-year-old Greek named Alexi Tsipras, the leader of the Coalition for the Radical Left.

 

"When handed the right to try and form a coalition government in Greece, he told the world that the Greek bailout agreement is “null and void” and should be abandoned.

 

"This sent global markets reeling because he could potentially unleash a series of events that would force Greece to leave the euro zone.

 

"Besides abandoning the bailout, Tsipras said he’d like to nationalize the banks permanently, restore all salaries and pensions to their previous higher levels and bring back collective bargaining rights..."

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Twitter / flix1: Russia backs return to Gol ...

Russia backs return to Gold Standard to solve financial crisis http://t.co/5WquHLBd
May 08 via HootSuite Favorite Retweet Reply

Russia backs return to Gold Standard to solve financial crisis http://t.co/5WquHLBd...
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MILLENIALS – “YOU ARE PAYING FOR A MEAL PREVIOUS GENERATIONS HAVE EATEN” « The Burning Platform

Great video from Rick Santelli on CNBC.

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Ron Paul Could Still Win Enough Delegates To Deny Mitt Romney The Republican Nomination

Ron Paul Could Still Win Enough Delegates To Deny Mitt Romney The Republican Nomination | Gold and What Moves it. | Scoop.it
Despite what you may have heard from the mainstream media, Mitt Romney does not have the Republican nomination locked up.  In fact, he is rapidly losing...

 

I would love to see Ron Paul debate Obama.

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WoW! Gold's Wall of Worry | Gary Tanashian | Safehaven.com

WoW! Gold's Wall of Worry | Gary Tanashian | Safehaven.com | Gold and What Moves it. | Scoop.it
Gold is grinding out a wall of worry that began construction out of a natural unwinding of the momentum that came in during the acute phase of the Euro crisis. More bricks were added weekly by various luminaries calling bearish ...

 

This was an interesting read to me from  Gary Tanahian:

 

 

"...All of the above illustrates why we proceed in a manner that emphasizes risk management and survival in anticipation of the moment when this massive wall breaks down in the gold stock sector and in the metal itself. The correction has gone on longer and in the gold stocks' case, deeper than I originally anticipated, but is right in line with the short-term parameters set when HUI broke down from the early 2012 uptrend (Bear Flag to resistance at 555) and then, the 475 'neckline'.


"This proves why it is always a good idea to manage risk and keep cash for opportunity. The 'Wall of Worry' will probably prove bullish ultimately, but it will only feel that way to patient individual players who are positioned for it."

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Bonnie Raitt - Burning Down The House

Music video by Bonnie Raitt performing Burning Down The House. (P) (C) 2010 Capitol Records, LLC. All rights reserved. Unauthorized reproduction is a violati...

 

I've been wanting a reason to play this song for a while. I think today qualifies.

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Nigel Farage - There Will Be an Attempt to Install a Dictatorship

Nigel Farage - There Will Be an Attempt to Install a Dictatorship | Gold and What Moves it. | Scoop.it

Nigel Farage tells King World News:

“I now believe the euro and the whole euro system is now in, by far, the deepest crisis that we’ve seen. We are in totally uncharted, chaotic territory. In some ways the ball is very much on the German side of the court. If they are unable to impose the discipline they thought this new Compact Treaty would give them, then maybe it’s the Germans that say, ‘Right, Greece you’ve got to leave.’ We know once Greece leaves, the dominos start to fall.

 

"To say that it’s a total mess is entirely accurate. You cannot have national democracy and this new form of economic and political government. We’ve seen these guys do some terrible things. I mean they’ve gotten rid of elected Prime Ministers in Greece and Italy.

 

"But they cannot at the moment, without imposing a total dictatorship, stop general elections from taking place in countries....

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The Golden Truth: More On Gold And The Economy... #Buffet

The Golden Truth: More On Gold And The Economy... #Buffet | Gold and What Moves it. | Scoop.it

by Dave in Denver:

 

"Priced in terms of gold, Buffet's wealth as represented by the price of his Berkshire Hathaway stock has declined 30.5% in the last three years and a staggering 77% since late 1999. Did Warren or Charlie happen to bring up this little factoid at their annual shareholder soiree this past weekend? Buffet's cult-like mush-brained followers slavishly follow him around lapping up any crumbs he might drop for them like the pied-piper, thus it wouldn't have mattered anyway..."

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Buffett, Munger, and Gates Bash Gold - Ed Steer's Gold & Silver Daily

Buffett, Munger, and Gates Bash Gold - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

by Ed Steer:

 

"I found it more than strange that Buffett, Munger and Gates were all trotted out in quick succession to bash gold in the main stream media. If you believe that this was pure coincidence, then I really do have a bridge I can sell you for cheap...and you're just the kind of person to buy one. Once could not ask for a bigger contrarian 'BUY' signal than this.

 

"As I mentioned in Saturday's column, the fact that the raptors [the et al] were selling on lower prices was like having the law of gravity repealed...it just doesn't happen. But as silver analyst Ted Butler pointed out in his weekend column..."It's somewhat ironic that JPMorgan buying from the raptors was always one of my special pet theories, but that was expected by me only on sharply higher prices...not lower prices..."

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