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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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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Jesse's Café Américain: Chris Powell Answers Doug Casey's Questions About Gold Manipulation

Jesse's Café Américain: Chris Powell Answers Doug Casey's Questions About Gold Manipulation | Gold and What Moves it. | Scoop.it

"I had read Casey's piece, but quickly lost interest in it at the argument that the 'gold market is so big' it cannot be manipulated by the poor weak central banks and their surrounding commercial banks who are practically bankrupt.

 

"If someone is a value sophisticate in a segment of the market, but does not understand and have concern for the power of the Federal Reserve and its associated banks being able to print money at will, then it is probably good advice to stick what you do know, and leave the economics for someone else. The saying that control of the money supply is a powerful tool has been around so long that it has become proverbial.

 

"As for the size of the gold market, it is tiny relative to the financial markets. Consider the enormous size of the international currency markets. Or the bond markets. Do the central banks manipulate them? Did Citi not get caught blatantly shoving Euro bond prices a few year ago? Of course they did. They just don't get caught at it unless they get clumsy.

 

"Prices in a market are set at the margin or 'on the float' in the day to day trade. All a large trader or group of traders has to do is manage that margin and the market will follow. If one looks at the amount of daily trading done on the LBMA in daily volume relative to the amount of physical gold changing hands, the answer is fairly glaring..."

 

click over for the rest. It's worth it.

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HP’s Whitman to Announce Restructuring Plan Wednesday; 30,000 Jobs Targeted

HP’s Whitman to Announce Restructuring Plan Wednesday; 30,000 Jobs Targeted | Gold and What Moves it. | Scoop.it
The plan is simple: Cut here, reinvest there.

 

by Arik Hesseldaahl:

 

"The daunting task of restructuring Hewlett-Packard will begin in earnest next Wednesday when the company reports its quarterly earnings. Sources familiar with the company’s plans say that CEO Meg Whitman will discuss the opening steps of a company-wide restructuring plan that will include the elimination of about 30,000 jobs.


"A report by Business Insider yesterday pegged the range of cuts at HP to between 10 percent and 15 percent of its current work force of 320,000 people. But sources familiar with HP’s plans tell AllThingsD that the cuts will be carried out over a relatively long period of time, perhaps a year or more. A report by Bloomberg News out minutes ago puts the target at 25,000. The exact number of cuts, one source told me, is still considered a “moving target” and could grow or shrink..."

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India Announces Austerity Measures

India Announces Austerity Measures | Gold and What Moves it. | Scoop.it

by Sreeja Vn:

 

"India Friday announced a set of austerity measures in a desperate attempt to prop up economy and to instill investor confidence.

 

"According to the new guidelines announced by Finance Minister Pranab Mukherjee, there will be a clamp down on government expenditure. The measures include total ban on vehicle purchase by the government, curbs on conducting workshops and seminars in five star hotels with state funds and restrictions on foreign trips by officials.

 

"The measures have come as the government is struggling to control the country's widening fiscal and current deficit amid a volatile rupee that has touched a record low against the dollar and weak markets.

 

"The overall economic sentiment remains damp as inflation has been increasing steadily while investments have dropped. The euro zone crisis and the global economic slowdown also have dragged the Indian economy down..."

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Paper gold & silver Ponzi exposed - Technical analysis

Paper gold & silver Ponzi exposed - Technical analysis | Gold and What Moves it. | Scoop.it

Anyone watching the gold and silver market understands that something is not right. An objective look at the fundamentals suggests that there seems to be no substance behind the recent downwards move.

 

by Brett Heath:

ORANGE COUNTY, CA (KSIR CAPITAL) -

 

"There has been a constant debate over the years on what drives the price of gold and silver. Obviously we have the fundamentals that have put the metals in a bull market for the last 10 years. The powers that be have total control over money, as they set the price for capital via manipulating the interest rates. So it is not a stretch that they would be concerned with a rising gold price because gold is a threat to how the current fiat regime functions on a day-to-day basis.

 

"Without Mr. Bernanke able to step in and buy US treasury bills, where would interest rates be? How would we fund our deficits?

 

"These are just some of the reasons why it is important for the elites to pay attention to the price of gold and silver. Knowing this, the powers that be have instructed their banking arms JPMorgan, HSBC, Goldman Sachs and the like, to create paper derivatives to help manage the price.

 

"But what happens when we get to a threshold point where the physical market breaks the back of the paper derivatives? We think that this time is near.


"The Accumulation Distribution Line developed by Marc Chaikin is a volume-based indicator designed to measure the cumulative flow of money into and out of a security. Chaikin originally referred to the indicator as the Cumulative Money Flow Line. As with cumulative indicators, the Accumulation Distribution Line is a running total of each period's Money Flow Volume.

"First, a multiplier is calculated based on the relationship of the close to the high-low range. Second, the Money Flow Multiplier is multiplied by the period's volume to come up with a Money Flow Volume. A running total of the Money Flow Volume forms the Accumulation Distribution Line. Chartists can use this indicator to affirm a security's underlying trend or anticipate reversals when the indicator diverges from the security price.
We think this, along with other technical indicators, is screaming BS on the paper gold and silver game.


"If you take a look at the chart below, you can see that the indicator has confirmed this bull cycle as money has continued to move out of paper assets and into the physical. Currently we see an extreme divergence:..."

 

click through for the rest.

 

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Trader Dan's Market Views: Bonds singing "Anticipation"!

Trader Dan's Market Views: Bonds singing "Anticipation"! | Gold and What Moves it. | Scoop.it

Trader Dan:

 

"All of this appears to be the driver in the nice pop higher in the gold market this morning, continuing the rally that began in Asian trading last evening. A push past $1580 would certainly startle the bears and induce further short covering that has the potential to take the price back to the key $1600 level.

 

"Let's see where the dust settles at the end of the trading session today. For now, it appears that traders are regarding any dose of rotten economic news as increasing the odds of QE sooner rather than later.

 

"If, and this is the big question, IF gold becomes CONVINCED that the Fed is going to act, it will immediately bottom. That is all one needs to know about the gold market. Nothing else will matter at that point.

 

"We are back to picking the petals from Daisy flowers - She loves me; she loves me not. The Fed loves me; the Fed loves me not. Will it do the QE or will it not???"

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Gold has a magnet at $2111 that will be met and exceeded. « Jim Sinclair's Mineset

Gold has a magnet at $2111 that will be met and exceeded. « Jim Sinclair's Mineset | Gold and What Moves it. | Scoop.it

"It is the OTC derivative position of both European and US banks that guarantees QE to infinity regardless of the daily denials still to come.

 

"Gold has a magnet at $2111 that will be met and exceeded..."

 

Jim Sinclair.

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Turkey`s gold exports to Iran soar as sanctions bite

Turkey`s gold exports to Iran soar as sanctions bite | Gold and What Moves it. | Scoop.it

by Behiye Taner:

 

"Turkish gold sales to Iran in March soared over 30 times and gold companies said Iranians were turning to gold for savings and possibly trade as Western sanctions tighten.

 

"Sanctions to force Iran to curb its nuclear programme have targeted its energy and banking sectors and new measures from both the United States and European Union take effect in July, aimed at strangling Tehran's foreign earnings.

 

"The sanctions have made neighbouring Turkey an ever more important channel for the Islamic republic..."

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Fear & Panic are the Banking Cartel’s Weapons V. the Gold & Silver Bull. Patience and Logic are the Best Defense. | The Underground Investor

by JS Kim:

 

"...As I wholly understood the Wall Street and banking cartel rigging game, on January 3, 2012, in preparation for the coming year, I informed my clients at that time to be prepared for “massive volatility” in gold and silver this year. I stated at the very beginning of this year in my client newsletter: “Volatility in gold and silver assets will likely be fierce once again in 2012 because of the fact that the criminal banking cartel will fight with every tactic at their disposal to suppress gold and silver prices as their empire crumbles, much like a cornered wild animal would react to a top predator that wishes to kill and eat it. It will do anything to survive. As we inch closer to the death of one, or both the Euro and the USD, a fate that I believe is inevitable and that we WILL experience in our lifetimes, unfortunately, the volatility that we experienced in 2011 will be repeated in 2012, with one significant caveat. Even though I expect a wild ride in gold and silver assets in 2012, I expect the end of the year prices to make a much larger jump higher in gold and silver this year as opposed to 2011, and I expect the probability for mining stocks to have a strongly positive year in 2012 to be much higher than last year. Thus I expect to see huge rapid movements higher in gold and silver at times, countered with wild swings down at times by panicked banker counter-responses. We’ve already seen that the elite banking cartel has zero morals when cornered and that they will resort to outright theft to protect their empire if necessary.”

 

 

"Though it may seem like a remote possibility to many at the current time that gold and silver rise much higher by the end of this year than their prices at the start this year, I still support this premise. For one, it should be clearly apparent, as I very well predicted massive volatility in gold and silver for 2012 as the norm, that such rapid and extreme price suppression schemes executed against gold and silver by the banking cartel is a direct reflection of how close we are to total systemic failure of the global financial system. Of course, the most massive volatility in gold and silver that we experienced thus far occurred in 2008, which coincidentally marked the worst stock market plunges we have experienced during this crisis thus far. The fact that the banking cartel has attacked gold and silver so strongly again this year merely indicates that the global financial system is in much much worse shape than the propaganda that they are distributing through the mass media that everything is okay that they are selling to the masses today...."

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No, None of This Makes Any Sense | Fred Sheehan | Safehaven.com

No, None of This Makes Any Sense | Fred Sheehan | Safehaven.com | Gold and What Moves it. | Scoop.it

by Fred Sheehan:

 

"After the financial crisis in 2008, "Too-Big-To-Fail" banks had to go. In 2006, the four largest banks - J.P. Morgan Chase, Bank of America, Citigroup, and Wells Fargo - held 33% of U.S. bank assets. Now, they hold 41% of U.S. bank assets and grow by the minute.


"The Federal Reserve is, at least on paper, the country's leading bank regulator. Instead, it behaves like the TBTF banks' turbocharger. Federal Reserve Chairman Ben S. Bernanke is full of talk, and nothing else..."

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Are Gold And Silver Bullion Sales Reported To The IRS? Tips For Keeping Bullion Sales Private

Are Gold And Silver Bullion Sales Reported To The IRS? Tips For Keeping Bullion Sales Private | Gold and What Moves it. | Scoop.it

"Long term gold and silver investors who have gradually accumulated physical precious metals over the years have seen the value of their holdings increase substantially when measured against the value of the paper dollar. Astute investors realize that a large part of the "gains" on their precious metals have merely preserved purchasing power compared to paper money which has been consistently debased by the monetary and fiscal policies of the government and federal reserve.

 

"In the eyes of the taxing authorities, however, the increased value of an investment due to inflation is still considered a gain regardless of whether or not there was an increase in purchasing power. As the chart below graphically depicts, a $4,000 investment made in 1986 and now worth $8,000 is still worth only $4,000 in purchasing power -thus the true economic gain is zero. Try telling that to the IRS! After paying long term capital gains on the phantom $4,000 "profit", you are left with less that you had in 1986..."

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Dollar Falls as Fed Signals Further Easing; Oil, Gold Rebound - Bloomberg

Dollar Falls as Fed Signals Further Easing; Oil, Gold Rebound - Bloomberg | Gold and What Moves it. | Scoop.it
BloombergDollar Falls as Fed Signals Further Easing; Oil, Gold ReboundBloombergThe Dollar Index (DXY) added 0.1 percent, advancing for the 14th day.
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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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The Golden Truth: John Boehner: "Obama Debt Ceiling Increase Demand Took My Breath Away" .

The Golden Truth: John Boehner: "Obama Debt Ceiling Increase Demand Took My Breath Away" . | Gold and What Moves it. | Scoop.it

by Dave in Denver:

 

"It's coming, people. Both a big debt ceiling increase and a lot more QE. Anyone who thinks the Fed is serious about not printing any more money is either cluelessly naive or hopelessly ignorant. The apathy and nonchalance about what is happening in this country is beyond appalling. And now Charles Schumer, a supposed Democrat, wants to prevent anyone giving up their U.S. citizenship from re-entering the U.S. ever again. Dare I remind Herr Schumer that is exactly the kind of law the Nazis imposed on Schumer's relatives (my relatives too) in the 1930's? Those who forget the past are condemned to repeat it (Santayana), Chuck..."

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Bloomberg Interview GoldCore on Chinese and Global Gold Demand | ZeroHedge

"Goldcore’s Mark O’Byrne was interviewed by Bloomberg yesterday discussing the World Gold Council Report, Gold Demands Trend (Q1 2012) - Enter The Dragon, on demand in Asia. “We could be witnessing a paradigm shift from China on bullion demand”, Mark O’Byrne also notes, “that the gold market was liberalised in China in 2003 and prior to that gold ownership was banned in China by Chairman Mao. The per capita consumption of 1.3 billion Chinese consumers, investors and central bank demand are very significant.”

 

Click through for the video interview.

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Why gold demand remains resilient

Why gold demand remains resilient | Gold and What Moves it. | Scoop.it

by Frank Holmes:

 

"...There was a significant rise in demand for jewelry from Russia, Egypt, Indonesia, Taiwan, and China, according to the World Gold Council (WGC) compared to the first quarter of 2011..."

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Gold defies stronger dollar; rises with euro - GOLD ANALYSIS

Gold defies stronger dollar; rises with euro - GOLD ANALYSIS | Gold and What Moves it. | Scoop.it

By Jan Harvey

 

LONDON (REUTERS) -

 

"Gold prices rose towards $1,590 an ounce in Europe on Friday, building on the previous session's hefty gains, as a recovery in the euro prompted some buying of the precious metal, with shorts covering amid expectations prices could rise further.

 

"Gold posted its biggest one-day gain since Jan. 25 on Thursday, recovering some ground lost during its longest run of losses in five months. Its reversal has put it on track to end the week 0.4 percent higher.


"Spot gold was up 0.9 percent at $1,587.46 an ounce at 0933 GMT, having earlier touched a high of $1,589.10, while U.S. gold futures for June delivery were up $12.50 an ounce at $1,587.40.

 

"The euro recovered from an early four-month low against the dollar to move into positive territory, taking some downward pressure off gold, though confidence in the currency remained weak.

 

"Gold's relationship to heightened risk aversion has been rocky since the start of the crisis. It rose to record highs last year in part because investors were buying the metal as a safe store of value, but as the dollar and treasuries found greater favour as havens, it slipped back along with the euro.

 

"Its price fall to its lowest since January has tempted investors back, however.

 

"In this multi-crisis environment, we are seeing a change in attitude towards risk in gold, so we are very optimistic," LGT Capital Management analyst Bayram Dincer said..."

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Fitzpatrick - Despite Pullback, Gold to Hit New All-Time Highs

Fitzpatrick - Despite Pullback, Gold to Hit New All-Time Highs | Gold and What Moves it. | Scoop.it

Today Citibank analyst, Tom Fitzpatrick, told King World News that despite the recent pullback, gold is headed to new all-time highs. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, also said that stock markets will continue to head lower in the coming weeks. But first, here is what Fitzpatrick had to say about the volatility index: “We’ve broken above that resistance level at 21% on the VIX, completing what is a very clear inverted head and shoulders within the daily chart. That suggests we could easily get a move that could take us up to something in the region of 27% to 28% (on the VIX).”

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Peter Schiff - The Market Rollover, QE3 Bottom & Gold

Peter Schiff - The Market Rollover, QE3 Bottom & Gold | Gold and What Moves it. | Scoop.it

Peter Schiff tells King World News:

 

"...The Fed has already said that if the economy needs it (QE), it’s going to get it. And the economy is addicted to it, I mean this economy needs QE the way a heroin addict needs another fix.

 

"Gold is oversold. It had a pretty big drop in a short period of time. I think a lot of people have been prematurely negative and a lot of people have called it quits on the gold market because of the apparent loss of momentum.

 

"People expect gold to go up all of the time. If all of the sudden you see some problems in Europe and gold doesn’t go up, people say, ‘See, we’ve got to sell it.’ The JP Morgan loss is now $3 billion, not $2 billion. That might get people to be more nervous about the financials.

 

"You are not going to wake up one morning and find out that your gold coins have somehow gotten involved in some kind of derivative trade that has blown up..."

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Finding opportunity in silver, the Devil's metal: Chris Thompson | MINING.com

Finding opportunity in silver, the Devil's metal: Chris Thompson | MINING.com | Gold and What Moves it. | Scoop.it
TGR: Do you think investors shy away from the silver space given its overall size and susceptibility to manipulation?

 

CT: Silver is often referred to as the most volatile of all precious metals. In that sense, it's not for the faint-hearted investor. However, with volatility comes opportunity as long as timing is right. The benefit that silver provides is that it finds value as a store of wealth, as well as an ingredient used in industrial applications, so it offers investors a dual benefit where silver fundamentals benefit from economic growth as well as economic uncertainty.

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THE ART OF BUILDING WEALTH | The Prospector Blog

THE ART OF BUILDING WEALTH | The Prospector Blog | Gold and What Moves it. | Scoop.it

"If you are nervous about silver or gold I urge you to take a deep breath and relax. When asked over the weekend if I was nervous (about PM) it was all I could do not to chuckle. I’ll worry when folks someday view PM as a no-brainer while climbing over each other to buy more, this is not the case today. And, if I might add, the dollars the world cherishes, especially in times like today, are on the fast track to worthlessville.

 

"Do you know why so many are now nervous over silver and gold? They are nervous because prices have dropped in dollars. But wait, shouldn’t those holding large quantities of PM be nervous when (if) the forces driving metal correct. Have driving forces like debt, massive currency printing, debasement, economic uncertainty, fear, and greed fixed themselves? After all, why would a person doubt PM just because the price drops when the forces pushing metal, over long term, have worsened? This tells me few understand how to build wealth.

 

"Few understand silver or gold and less are confident in PM...."

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Greece: Please Go Bankrupt, Fast! | Ned W. Schmidt | Safehaven.com

Greece: Please Go Bankrupt, Fast! | Ned W. Schmidt | Safehaven.com | Gold and What Moves it. | Scoop.it

LOL

 

By Ned W. Schmidt:

 

"We have a request for the politicians in Greece. Please go bankrupt, as soon as possible! Let us have the pain done with. To the Euro zone: Throw them out. The world needs a good example of just how bad Keynesian induced poverty can be. The Western economies would probably be better off with the citizens of Greece living in absolute poverty as a clear example of how not to do it. Keynesian socialists will not save the pensions of the Greeks. They will insure that they end. Get it over with, so investors can move on to more important matters.


"As a consequence of the Keynesian debt disease plaguing the West, only one major economy seems to have any hope of growth in the years immediately ahead, China. Perhaps their success can be attributed to ignoring worthless advice of the West's Keynesian economists. But yet, they cannot escape some of the downside of Keynesian mismanagement. Their businesses are too being hurt by slumping demand in the EU and the faltering U.S. economy..."

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The Golden Truth: Japanese Pension Fund Switches To Gold

The Golden Truth: Japanese Pension Fund Switches To Gold | Gold and What Moves it. | Scoop.it

From Dave in Denver:

 

"From the Financial Times (Mark at Strategic Energy Research gave me the heads up):

 

"Okayama Metal & Machinery has become the first Japanese pension fund to make public purchases of gold, in a sign of dwindling faith in paper currencies...With institutions warming to gold, too, demand could grow further.

 

"Not much I can add to this article..."

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