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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Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times

Over the entire 12-year precious metal bull market, gold has bottomed in January 7 times | Gold and What Moves it. | Scoop.it

Ed Steer had an interesting note and chart:


"... The commentary included with the graph was as follows...  "As you can see, over the entire 12-year precious metal bull market, gold has bottomed in January seven times...but only once after April amidst the 2008 global meltdown...when the cartel viciously attacked to mask gold's "once and future" roll as a safe haven...only to see it recoup all such losses by February 2009." ..."

Hal's insight:

Click over for the full size chart and check out the chart on Chinese gold imports from Hong Kong.

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Pakistan imports Gold worth $16.387 million in Nov-2012

Pakistan imports Gold worth $16.387 million in Nov-2012 | Gold and What Moves it. | Scoop.it
Gold imports in November 2012 stood at $16.387m against those of $3.957m and $30.006m in November 2011 and October, 2012 respectively.

 

LAHORE(BullionStreet): ... According to Commerce ministry, country's gold imports, however recorded an increase of 314.13 per cent when compared with those of November 2011.

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John Hathaway - 2 Key Charts, Gold, Fed & The Big Picture

John Hathaway - 2 Key Charts, Gold, Fed & The Big Picture | Gold and What Moves it. | Scoop.it

January 10 (King World News) - The bull market in gold remains intact.  The metal rose approximately 7.14% in 2012 in U.S. dollar terms and has increased in each of the last 12 years.  Negative real interest rates incentivize capital to move into gold.  

 

It is difficult to imagine a world of positive real interest rates, absent a significant shift in monetary and fiscal policy in the Western democracies.  Gold and gold shares historically have been positively correlated.  

 

However, during the past few years, gold mining stocks have underperformed the metal due a host of issues that we have discussed at length, including in our article A Golden Mulligan.  Although the article was published a few years ago, the issues afflicting gold mining stocks mentioned then still hold true. 

 

Gold mining stock valuations are at the low end of the historical range since the introduction of the gold ETF (GLD) in 2004, or roughly 10% (basis XAU/spot bullion.)  Significant rallies in gold mining shares have occurred in the past few years from this compressed valuation base. 

 

We see evidence of fundamental change within the gold mining industry, which ...

Hal's insight:

click over for the full piece and the charts.

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$1 trillion platinum coin hogwash – if it should happen buy gold and silver

$1 trillion platinum coin hogwash – if it should happen buy gold and silver | Gold and What Moves it. | Scoop.it

How anyone can suggest the creation of a $1 trillion platinum coin purely to circumvent checks on government spending defeats all logic and its creation would presage a flight into gold and silver.


by Lawrence Williams:


LONDON (MINEWEB) - 

Far be it for me to argue with a Nobel prizewinning economist, members of Congress and however many thousands have signed the White House petition to mint it, but this whole idea of a trillion dollar platinum coin is ludicrous.

 

It would have to constitute the most gigantic fraud ever perpetuated by a government and probably make the U.S. dollar and the U.S. economy the laughing stock of the world.  If anything, it would trigger a huge investment surge into gold and silver as all faith in government-created money would evaporate!

 

Firstly – why platinum?  It is based on a legal technicality allowing the U.S. to mint platinum coins of any face value.  However, given that $1 trillion dollars worth of platinum at current prices represents around 8 or 9 times the amount of platinum ever mined throughout history, a trillion dollar face value coin would have to bring any kind of money creation into even more disrepute than it already is. ...


Hal's insight:

Click through for the rest of Williams's article. But I agree. it's hogwash. Or is that putting lipstick on a pig?

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According To The Bretton Woods Calculation, Gold Is Worth $20,000 Per Ounce

According To The Bretton Woods Calculation, Gold Is Worth $20,000 Per Ounce | Gold and What Moves it. | Scoop.it
Aka the shadow gold price.

 

The global monetary system rests on a fragile foundation of trust. Thanks to the actions of central banks, pressure on the system will keep growing.

 

Paper U.S. dollars sit at the heart of the global monetary system. Dollars are liabilities of the Federal Reserve. Just as houses are collateral for mortgages, Treasuries and mortgage bonds are collateral for U.S. dollars.

 

A central bank’s balance sheet is essentially a self-reinforcing feedback loop: Government bonds are the collateral for dollar liabilities, and bonds are streams of future dollar payments. So the dollar is backed by the promise of more dollars…



Read more: http://feedproxy.google.com/~r/dailyreckoning/~3/fW19Pvbxkw4/#ixzz2HVJz2s00

Hal's insight:

Hat tip to www.jsmineset.com

 

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We’ll See Breathtaking Moves In Stocks, Gold & Silver in 2013

We’ll See Breathtaking Moves In Stocks, Gold & Silver in 2013 | Gold and What Moves it. | Scoop.it

On the heels of some wild trading action this past week in the gold, silver and stock markets, today 56-year market veteran and analyst Ron Rosen sent King World News a fascinating piece.  Rosen states that we are headed for some extremely violent trading in stock markets this year, but he believes gold and silver will begin a dynamic rise in 2013.  Nick Laird from ShareLynx assisted Rosen by putting together some fantastic charts for this piece.


The secret to knowing what the markets will do through time is really no secret.  All we really must know is how people in the markets collectively function through time.  Are there collective patterns of buying and selling?  Do any of these patterns repeat through time? Do market movements from the past repeat in the future?  The answer is yes, they do. This is what I have been studying for 56 years.  

 

Before I could confidently and accurately see patterns in others taking place I had to see the patterns in myself and examine how I repeated them over and over.  Until I began to fully recognize them I was not able to change and modify them.  The markets consist of millions of participants who do not recognize that they are collectively repeating their patterns of buying and selling through time ...


Hal's insight:

Click over for all the chart goodness.

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Burma Gold dealers start brisk selling as Kyat gains

An ounce of gold is priced at 1,425,646.96 kyat in early trade Wednesday while kyat exchange rate for the day is at 857 to the dollar, down from nearly 900 a couple of months ago.
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Jim Rickards - Who Will Bail Out the Fed & How High for Gold?

Jim Rickards - Who Will Bail Out the Fed & How High for Gold? | Gold and What Moves it. | Scoop.it

"The United States now has a system in which the Treasury runs huge deficits and sells bonds to keep from going broke. The Fed prints money to buy those bonds and loses money owning them. Then the Treasury takes IOUs back from the Fed to keep the Fed from going broke. This arrangement resembles two drunks leaning on each other so neither one falls down. Today, with its 50-to-1 leverage and investment in volatile securities, the Fed looks more like a poorly run hedge fund than a central bank." - James G. Rickards on King World News.

 

Please go read the full post. It's information you need to make decisions in this economy.

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India may rise Gold duty to 6% as imports surge again

Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax.

 

NEW DELHI(BullionStreet): Indian government's efforts to control gold imports and the overall hunger for gold by majority of it's population suffered a setback as imports surged on the first week of this year.

 

Traders have imported between 25-30 metric tons in the past one week compared to five to seven metric tons in the previous few weeks, said Prithviraj Kothari, managing director of Ridhi Sidhi Bullion Ltd.

 

Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax. ...

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Tajikistan holds 100 tons of stream Gold reserves

According to Tajikistan's chief geologist Azim Ibrohim, prospective stream gold reserves in the country
make about 100 tons.

 

DUSHANBE(BullionStreet): Former soviet state Tajikistan said country has mapped prospective reserves of stream gold deposits.

 

According to Tajikistan's chief geologist Azim Ibrohim, prospective stream gold reserves in the country make about 100 tons.

 

The stream gold deposits mainly lie in the north and the south-east of the country. Over 1,500 work places will be created during development of these deposits, he said. ...

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The Golden Truth: The Gold Bull Stage 2: Here Come The Pensions

The Golden Truth: The Gold Bull Stage 2: Here Come The Pensions | Gold and What Moves it. | Scoop.it
Pension money invested in bullion is 'peanuts' at the moment...If 1 percent of their total assets shift to the metal, the gold market would explode. - Itsuo Toshima, advisor to Japanese pension funds (Bloomberg, link provided below)


I have maintained since 2002 that the precious metals and mining stock market would eventually erupt into bull market frenzy that would at least rival, and likely succeed, the bull market frenzy we saw in tech stocks. Part of what will fuel this frenzy is the enormous flow of institutional investor money, globally, that will eventually find its way into the precious metals and mining stock sector. Because the amount of potential capital from institutions from just a small increase in sector allocation - relative to the total size of the precious metals/mining stock sector - the price effect is potentially enormous.

There are a lot of solid fundamental reasons for this. But from a technical perspective, the total size by market capitalization of the gold, silver and publicly traded mining stocks combined is absolutely minuscule in relation to the total size of global investible institutional assets. To put this in perspective, the market cap of each of the top 15 stocks in the S&P 500 is individually larger than the total market of the entire publicly traded mining stock sector (1). Think about that for a minute. Apple has a bigger market cap than every single mining stock globally combined.

Hal's insight:

Dave makes some very interesting points.

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Chinese miners hunt for gold overseas on expectations of bullion price gains | MINING.com

Chinese miners hunt for gold overseas on expectations of bullion price gains | MINING.com | Gold and What Moves it. | Scoop.it
Tianjin China Mining Conference highlights overseas acquisitions rush

 

A recent mining industry conference held in the northern Chinese coastal city of Tianjin has highlighted the concerted effort amongst the country's miners to snap up gold mines abroad.

 

Caixin reports that conversations amongst gold mining executives at the recent China Mining Conference were abuzz with the topic of foreign acquisitions, with industry insiders anticipating a sustained rise in bullion prices.

 

Spearheading the overseas acquisitions drive is Fujian-based gold mining giant Zijin (SEHK:2899), which made its initial foray abroad eight years ago.

 

According to Zijin's president for international affairs, Li Zhilin, the company currently controls six mines in Russia, Mongolia, Tajikistan and Australia. ...

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Gold is first shelter for countries like Iraq

Iraq is probably the country that is most in need of a great deal of gold reserves given its succession of political and economic crises.

 

War torn Iraq considering gold as one of the first shelter in times of crisis, according to a parliament committee led by country's prime minister Nouri al-Maliki.

 

The Dawlat al-Kanoun parliamentary bloc said gold is the most stable component of official reserves. It will result in the stability and possibly the improvement of dinar exchange rates.

 

The Iraqi dinar exchange rate is based on the amount of cash reserves, which include not only money but gold as well. ...

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China buys another Gold asset in Australia

Major Gold companies such as Shandong Gold, Zijing Mining and Zhaojin Mining are already in the fray for overseas takeovers, analysts said.

 

PERTH(BullionStreet): As part of it's efforts to boost gold reserves, China acquired yet another gold asset in Australia.

 

China's Hanking Gold Mining said it had acquired St Barbara's Southern Cross mine in the WA goldfields for $22.5 million.

 

The acquisition follows the sale of several other WA mines to Chinese companies over the past six months.

Hal's insight:

And the Dragon continues to get all the gold it can.

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Trader Dan's Market Views: Gold bounces from Support

Trader Dan's Market Views: Gold bounces from Support | Gold and What Moves it. | Scoop.it

Trader Dan writes:

 

"... Chatter that I am picking up is that more investors/traders are growing concerned that we have dodged one fiscal cliff bullet only to have to face a ricochet sooner rather than later and deal with the whole problem all over again.

"That led to weakness in stocks (along with the idea that earnings are going to disappoint as the numbers begin coming out) and instead saw money flow back into bonds, the safe haven currencies ( the Yen and the US Dollar) and into gold. ..."

Hal's insight:

Click through for the chart and full post. 

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