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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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Next Leg Of The Ponzi Revealed - Foreign Central Banks To Begin Buying US Stocks Outright Starting Today | ZeroHedge

Next Leg Of The Ponzi Revealed - Foreign Central Banks To Begin Buying US Stocks Outright Starting Today | ZeroHedge | Gold and What Moves it. | Scoop.it
We were speechless when we read this from Bloomberg.The Bank of Israel will begin today a pilot program to invest a portion of its foreign currency reserves in U.S.
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Euro Zone Unemployment, Inflation Inch Up

Euro Zone Unemployment, Inflation Inch Up | Gold and What Moves it. | Scoop.it
Euro zone unemployment rose to 10.7 percent in January from a revised 10.6 percent in December, while the annual inflation rate edged up to 2.7 in February from 2.6 percent in January, the European Union's official statistics agency, Eurostat,...
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Trader Dan's Market Views: Gold holds at support near $1700

Trader Dan's Market Views: Gold holds at support near $1700 | Gold and What Moves it. | Scoop.it

Dan Norcini on gold today:

 

"Considering the spanking that this market received yesterday, it is showing very good resilience."

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Reported massive 31 tonne sell order triggered gold and silver price collapse

Reported massive 31 tonne sell order triggered gold and silver price collapse | Gold and What Moves it. | Scoop.it

"A reported 31 tonne sell order on the CME rocked gold which saw prices collapse from a high of $1790 in London hours to $1703 during NY trading, followed by a further dip to the low of $1687 in out of hours electronic trading. A fall of over 6% which erased roughly half of the gains since the beginning of the year.

 

"Much has been placed on the testimony by Fed Head Bernanke but other markets saw less impact leading to suggestions that it simply provided an excuse for a particular "non US" fund to bail and take profits in dramatic fashion. It may be possible that the seller had hoped the 1,000 lot sell order would trigger stops and thereby exaggerate the move lower, allowing the buying to potentially come back in at a much lower price. Like the price, there is much speculation on their motive.

 

"Ordinarily if a seller wanted to get the best price for his metal he would seek to finesse the selling over time, hunting out liquidity (finding people who are the other side of his sell order) and thereby ensure he gets the best possible profit. This seller was clearly simply out for effect..."

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Platinum closing the gap on gold

Platinum closing the gap on gold | Gold and What Moves it. | Scoop.it

{It's closing the gap but faces some hurdles.}

 

Lawrence Williams:

 

"Indeed platinum's fundamentals are looking pretty good at the moment. With U.S. auto sales rising again, and Chinese auto demand remaining huge, alongside the latter country's efforts to improve the environment, autocatalyst usage looks set fair again. Jewellery demand in China and Japan in particular, but also in India, appears to be on the rise too.

 

"Meanwhile on the production side matters are rather less uncertain. World No. 2 platinum miner, Impala, has been having a torrid time with its workforce at its flagship Rustenburg mine, and although it now says operations will resume March 5, there is the suspicion that disruption may continue beyond then, particularly with regard to violence between strikers and non strikers - which could be exacerbated by tribal group differences.

 

"There is also the chance that the difficulties which have beset Impala could yet spring over to neighbouring Anglo Platinum's own Rustenburg operations and to other producers too.

 

"Anglo Platinum, the world's No. 1 producer, has been having difficulties of its own with a deteriorating safety record leading to safety-related shutdowns, and there is the looming spectre of more South African power outages ahead which could affect production right across the industry.

 

"Furthermore indigenisation issues in global No. 3 producer, Zimbabwe, has been affecting production growth there - and this is an ongoing issue with a current major contretemps in process between the Zimbabwe Government and Impala (giving retiring CEO David Brown another headache to deal with!)..."

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Eveillard - Desperate Central Banks Intervene in #Gold Market

Eveillard - Desperate Central Banks Intervene in #Gold Market | Gold and What Moves it. | Scoop.it

Jean-Marie Eveillard told King World News:

 

“Investors have to remember that in only a couple of months the price of gold, up until yesterday, had recovered from $1,525 to $1,785, which is not peanuts. Today we are just giving up a portion of that move.

 

"But from someone who has a long-term outlook like myself, it used to be the Federal Reserve and the Bank of England that were printing money like there was no tomorrow. Then the ECB did. Now the Swiss National Bank is doing it too and indeed the Bank of Japan gives the impression they are joining the party as well..."

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Trader Dan's Market Views: Silver Chart Analysis

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

Dan Norcini:

 

"I suspect that the reason the buyers are showing up here is because NOTHING HAS CHANGED IN REGARDS TO THE FED's EASY MONEY POLICY. Sure, based on what Easy Money Ben said today, we are not going to get a forthcoming QE3 program anytime soon but back when the Fed signalled an ultra low interest rate policy continuing until late 2014, did they tell the market that it was going to get a QE then? NO, it did not. In spite of that the entire commodity complex, but especially the metals, began marching higher based on that expected low interest rate environment being sustained for some time..."

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To end the Fed, Paul will have to start questioning it | Gold Anti-Trust Action Committee

To end the Fed, Paul will have to start questioning it | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

Gata highlights some points that Ron Paul could have asked Bernanke:

 

"For example, Paul could have pressed Bernanke about the Fed's admission, in the course of GATA's freedom-of-information lititation three years ago, of its involvement in gold swap arrangements with foreign banks, an admission contradicting the Fed's many denials of involvement with the gold market..."

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Real Time Gold Prices | Exact Price of Gold | Lear Capital

Real Time Gold Prices | Exact Price of Gold | Lear Capital | Gold and What Moves it. | Scoop.it
Get real time gold prices updates even when you're on the move. Keep abreast of the precious metal market price with Lear Capital.

 

{Gold volatility today! :-) Good buying opportunity. Gold right now at $1,707.20 as I look at the free Adobe Air Widget at http://www.learcapital.com/exactprice Silver got slammed too. $34.66. Platnum a lot closer though to overtaking gold at $1,6.87.80.

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19 Signs That America Has Become A Crazy Control Freak Nation Where Almost Everything Is Illegal

"Do you think that you are free? Most Americans would still probably answer “yes” to that question, but is that really the case? In the film Edge of Darkness, Mel Gibson stated that “everything is illegal in Massachusetts”. Well, the same could pretty much be said for the United States as a whole. Our lives are governed by millions of laws, rules and regulations and more are being piled on all the time. In fact, 40,000 new laws just went into effect in January. Every single new law restricts your freedom just a little bit more. The truth is that America has become a crazy control freak nation where virtually everything that we do is highly regulated. You have probably broken multiple laws today that you don’t even know exist. We have all become criminals and lawbreakers because almost everything is illegal at this point. Our politicians are convinced that they are “making life better” by piling gigantic mountains of laws on to our backs, and law enforcement authorities are convinced that they are helping society by “cracking down on crime”, but the reality is that our liberties and our freedoms are being strangled by all of this government oppression. This is not the way that America is supposed to work."

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SCARED STRAIGHT INTO SILVER & GOLD | The Prospector Blog

SCARED STRAIGHT INTO SILVER & GOLD | The Prospector Blog | Gold and What Moves it. | Scoop.it

"If you take one thing from today’s post I want it to be this. What good is it to break the grips of debt and monetary debasement only to shackle yourself with fear? I refuse to succumb to a scared straight version of precious metal ownership and my hope is you feel the same way. Owning PM is prudent and each day provides yet another layer of evidence of such wisdom but too many are willing to capitalize on growing fear. Today is the first part of a two-part series (part II this Friday called Bait-n-Switch Silver & Gold) exposing those more than willing to profit first from fear and secondly from haste. Part 2 will expose a few popular B & S techniques often used by those more concerned with a higher commission than you owning the right PM, don’t miss it.

 

"Are bad things happening more today than ever before? Should we prepare for a time of economic correction? The answer is yes but most issues like conflict, government overreach, and civil unrest stem from the symptoms of too much debt; this has little to do with fear. Fear is the reaction folks experience who are unprepared for such a time. I’m guessing since you’re taking the time to read this post this doesn’t include you. Trading currency for silver or gold must be a calculated process based less on human emotion and more on a long-term plan. This is not the norm and unfortunately bullion dealers and media know this too well."

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Gold Versus Paper: Why Are Precious Metals Bulls Scared?

"Well, first of all, bull markets climb a wall of worry. But second, there are some powerful media forces trying to maintain the status quo. They are constantly disparaging Gold and talking about imminent corrections, bubbles, etc. As a recent example, Warren Buffett did a recent hit piece on Gold published in the Wall Street Journal (video talking head summary here). And, of course, there is always Jon Nadler at kitco.com to make sure you are NEVER bullish on precious metals no matter what..."

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LIBOR manipulation probe turns criminal in U.S., Reuters says | Gold Anti-Trust Action Committee

LIBOR manipulation probe turns criminal in U.S., Reuters says | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

NEW YORK -- The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said.

 

While the Justice Department's inquiry into the setting of the London interbank offered rate, or Libor, was known, the criminal aspect of the probe was not.

 

A criminal inquiry underscores the serious nature of a worldwide investigation that includes regulators and law-enforcement agencies in the United States, Japan, Canada and the UK.

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Gold and Silver Plunge – Called “Intervention”, “Window Dressing”, “Temporary Smash”, “Paper Fiasco” | ZeroHedge

Gold and Silver Plunge – Called “Intervention”, “Window Dressing”, “Temporary Smash”, “Paper Fiasco” | ZeroHedge | Gold and What Moves it. | Scoop.it
From GoldCoreGold and Silver Plunge – Called “Intervention”, “Window Dressing”, “Temporary Smash”, “Paper Fiasco” Gold’s London AM fix this morning was USD 1,721.00, EUR 1,289.812, and GBP 1,079.13 per ounce.

 

"Gold and silver markets saw massive sell orders from large institutional sources - as only large institutions selling could have caused a price falls of the magnitude seen yesterday.

 

"There were highly speculative unsourced rumours of an Asian fund selling gold and rumours of a single bullion sale of 31 tonnes or some 1 million ounces by an unnamed seller.

 

"The unusual trading activity saw some very determined sellers who appeared to not be motivated by maximizing trading profits.

 

"One trader said how he had not seen that sort of volume before and the activity was akin to "computerised manipulation" and that there were “massive volumes going through and appeared as if some large entities had bids and offers at the same price”..."

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Greek Economy Suffers Record Collapse In February | ZeroHedge

Greek Economy Suffers Record Collapse In February | ZeroHedge | Gold and What Moves it. | Scoop.it

"There are those who recall that not ten days ago, according to the IMF's Greek (un)sustainability analysis, worst case scenario no less, Greek GDP would somehow miraculously post just a 1% drop in 2013. There are those who recall that not ten days ago, according to the IMF's Greek (un)sustainability analysis, worst case scenario no less, Greek GDP would somehow miraculously post just a 1% drop in 2013. Unfortunately this won't happen. According to the overnight PMI update out of Europe (where was saw the jobless rate at the highest since 1997), the Greek economy just imploded at a record pace..."

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Caesar Bryan: Yesterday’s Gold Selling Raises Serious Red Flags

Caesar Bryan: Yesterday’s Gold Selling Raises Serious Red Flags | Gold and What Moves it. | Scoop.it

Caesar Bryan told King World News:

 

“This is actually similar to other experiences that we’ve seen in the last year where there has been a very sharp, sudden pullback in the gold market. But what I can tell you is the seller was not looking to maximize his revenue from the sales and to market participants like myself and others this is strange. The design of the selling raises serious red flags and leaves some questions unanswered.

 

"I can only say the action was very odd and that’s as far as I want to go because I don’t know what the seller’s or sellers’ motivations were. We have seen this on a number of occasions over the last year where indiscriminate large selling will come in and the gold price falls like a stone. Sometimes gold falls $50 to $80, literally, within a few minutes...."

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Is China Set to Become the New Global Gold Powerhouse? | MintLife Blog | Personal Finance News & Advice

Is China Set to Become the New Global Gold Powerhouse? | MintLife Blog | Personal Finance News & Advice | Gold and What Moves it. | Scoop.it
For the first time, the global demand for gold exceeded more than $200 billion for the first time.

 

"Recently released World Gold Council numbers show that global gold demand exceeded more than $200 billion last year for the first time — but it is the WGC’s claim that China could possibly replace India as the world’s largest gold market in 2012 that seemed to grab the attention of many market watchers.

 

"At the moment, India continues to boast the world’s biggest gold market, with demand of 933.4 tonnes in 2011, of which more than half was for gold jewelry, according to the latest data from the World Gold Council.

 

"But in the second half of last year, the WGC notes that the rise and fall of the rupee and domestic swings in the gold price had an impact on both India’s jewelry and investment demand, which fell 33%.

 

"And according to a Bloomberg news survey of analysts, brokers, and jewelers, gold imports by India may drop by a median estimate of 7% to 900 metric tonnes this year.

 

"As a result, China could be set to take over as the largest gold market in the world for the first time in 2012, the World Gold Council noted last week as it released gold demand trends and figures for 2011..."

 

{Both China and Russia are in a race.}

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Another Drive-By Shooting From 'da Boyz' - Ed Steer's Gold & Silver Daily

Another Drive-By Shooting From 'da Boyz' - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it

Ed Steer on yesterday's action:

 

"There's also a reasonable chance that the huge sell off that they engineered yesterday may have been all they needed to clean out the weak longs that had entered the market since the late-December low. In my daily chat with Ted Butler, he wasn't sure how much of the trading volume in both metals was of the HFT variety...and how much was real tech fund long liquidation."

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Along The Watchtower: Discrepancy

Along The Watchtower: Discrepancy | Gold and What Moves it. | Scoop.it

TF Metals:

 

"Combine this with what we know from our loyal Turdite regarding JPM indiscriminately dumping 10,000 contracts of gold in two minutes this morning.


"Clearly this was a coordinated attack, meant to create the cascading waterfall which ensued..."

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Sinclair: Today was a Cover-Up By the Fed & Mainstream Media

Sinclair: Today was a Cover-Up By the Fed & Mainstream Media | Gold and What Moves it. | Scoop.it

Today legendary trader and investor Jim Sinclair told King World News that today’s action was a cover-up by the Federal Reserve and the mainstream media. Sinclair also laid out for KWN readers globally the exact sequence of the cover-up and how it was orchestrated. Here is what Sinclair had to say about the shocking events that took place today: “The power behind the equity markets right now is liquidity and everybody knows it. It’s not improving earnings and it’s clearly not a broad globally improving economy, but rather improving liquidity.”

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Twitter / King World News: Jim Sinclair Audio - Today ...

Jim Sinclair Audio - Today's Manipulation a Cover-Up By Fed & Mainstream Media, Gold & More http://t.co/R2uHgGjQ
Mar 01 via web Favorite Retweet Reply

Jim Sinclair Audio - Today's Manipulation a Cover-Up By Fed & Mainstream Media, Gold & More http://t.co/R2uHgGjQ...
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WHY ISN’T THE MSM REPORTING FANNIE MAE’S $16.9 BILLION LOSS TODAY? « The Burning Platform

"Amazing how this press release could completely slip by Bloomberg and Marketwatch. I guess Fannie Mae, which along with Freddie Mac and the FHA guarantee 95% of all the mortgages in the United States, isn’t really news worthy. It couldn’t be that our corporate MSM buries all bad news while touting every piece of good news. It seems Fannie Mae lost $16.9 billion more of your money in 2011. You own 80% of Fannie Mae, 80% of Freddie Mac and 100% of the FHA. Freddie will announce a massive loss tomorrow which won’t be covered by the MSM. The FHA is already bankrupt. Since 2008, Fannie and Freddie have lost over $200 billion of your tax dollars. But don’t worry, with the beauty of Federal Government accounting, these losses do not show up in the National Debt figures. Home prices hit a new low yesterday and they continue to fall. Fannie and Freddie are being forced to guarantee more mortgages given to deadbeats. Obama is using them for his new bullshit save the housing market schemes. By the time these fine well run organizations are finished, they will lose you another $200 to $400 billion."

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oftwominds-Charles Hugh Smith: What's Your Favorite "On the Ground" Recession Indicator?

oftwominds-Charles Hugh Smith: What's Your Favorite "On the Ground" Recession Indicator? | Gold and What Moves it. | Scoop.it

"When people are driving their pride and joy cars out of their pampered garages and selling them for cash, not trading them in for a new car or keeping them for pleasure, I think that's saying something about the "real" economy you won't find if you hang around Twitter HQ or the bejeweled Opera crowd."

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Jesse's Café Américain: Today is the First Notice Day for Silver and So We Have This Shameless Bear Raid on Metals

Jesse's Café Américain: Today is the First Notice Day for Silver and So We Have This Shameless Bear Raid on Metals | Gold and What Moves it. | Scoop.it

Jesse:

 

"The 'tell' is the lack of a serious sell off in equities. The yawning divergence in the risk trade is hard to miss.

 

"This notion that gold and silver are selling off because Bernanke is not going to do QE3 is ludicrous. He does not need to do QE3. The Fed is all over these markets in Operation Twist. Jim Rickards has explained this scenario many times that I have linked here.

 

"What is the answer? Unless you are a full time experienced trader playing with 'cool money,' stop trading. This market is far too thin and given over to gimmicks for the average person to participate. It really is.

 

"Take long term positions that suit your investment situation, and then ignore the noise that the trading desks throw out to shake people from their positions, painting pictures on the charts to shape perception."

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GATA: The Russians And Chinese Know What We Know And It Is SO Bullish!

GATA: The Russians And Chinese Know What We Know And It Is SO Bullish! | Gold and What Moves it. | Scoop.it
Since 1995, news.GoldSeek.com publishes the leading gold news commentaries, gold market updates and reports providing gold investors with the most updated gold and silver prices, news & precious metals information!

 

"This is no braggadocio on GATA’s part. They found out some time ago that the gold price was artificially suppressed. This is what GATA knew so long ago and explained/documented. The Gold Cartel was secretly using up their available central bank gold supply in order to suppress the price. This was UNSUSTAINABLE and was obvious to GATA. We KNEW that The Gold Cartel could not continue to suppress the price, only MANAGE its price on the upside … which is why the price has now risen 12 years in a row. My term, for umpteen years now, has been to call it a "managed retreat." The Gold Cartel can only play their pitiful games to win battles, on their way to losing The Gold War … as the price goes UP, and UP, and UP, year after year."

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