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Articles relating to gold, what moves it its prices and what to expect next.
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Trader Dan's Market Views: Gold pops higher in Asia

Trader Dan's Market Views: Gold pops higher in Asia | Own Gold LLC | Scoop.it

Gold jumped in overnight trading during the early Asian session when China released its version of the CPI. June CPI came in at +2.7% on the year where the market was looking for +2.5%. Apparently there was a rush to grab gold when the data hit the wire. Prior to that gold was relatively quiet with a slight bias to the upside.

As you can see on the chart, volume is miniscule however. The big test will be what the metal does when it enters European trading but more importantly, New York trading.

The weakness in the gold shares today (Monday) is generally a bearish sign when the metal and the shares go their own separate way so call me a skeptic until proven otherwise. Asia still loves gold while the West seems to despise it; until the West comes around to falling back in love with the metal, it will be up to Asian buying to do the heavy lifting in the metal. 

I have noted an overhead chart resistance zone which basically extends from last week's high at $1267 - $1269. Bears will be ...


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Hal's curator insight, July 9, 2013 8:12 AM

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The Great Gold Shakeout of 2013 | The Daily Gold

The Great Gold Shakeout of 2013 | The Daily Gold | Own Gold LLC | Scoop.it

Gold means lots of things to lots of people. To some, it is a store of value, to others; it is a barbarous relic from a long-ago era of archaic finance. To some, it is a day-trading product, to others; it is meant for jewelry and little else. The issue with gold is that it has lots of personalities. Those personalities are the embodiment of those that are buying and selling it on any given day. Sometimes, those personalities are in balance, sometimes one of them takes precedence. At the same time, unlike many investments, gold has no intrinsic value—no earnings, no book value, nothing to place a price upon. It is just a trading price and little more. The price is just a composite of the investing world’s mood.

 

I like to think of gold in terms of production cost, at least that lets you ground your thinking in something empirical. The problem is that in the short-term, commodities can and often do trade below the marginal cost of producing them—like gold currently does. So, in the end, gold is not tethered to any real value. It floats based on emotions and margin calls. ...


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Hal's curator insight, July 8, 2013 11:10 AM

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Gold climbs past $1250 in Asia

Gold climbs past $1250 in Asia | Own Gold LLC | Scoop.it

SINGAPORE(BullionStreet): Gold climbed past $1250 in Asian trade Tuesday, supported by a positive Chinese inflation data.

 

Spot gold was seen trading at $1250.91 an ounce at 12.00 noon Singapore time while US gold was seen at $1249.42 an ounce on the comex division of nymex.

 

Analysts said the precious yellow metal is likely to extend gains during the day on continued bargain hunting and also on a strong dollar. ...


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Paulson puts peddle to the metal despite 65% plunge in his Gold fund

Paulson puts peddle to the metal despite 65% plunge in his Gold fund | Own Gold LLC | Scoop.it

John Paulson, the billionaire hedge-fund manager seeking to rebound from losses tied to bullion, posted a 23 percent decline in his PFR Gold Fund last month, Bloomberg reported.

The drop brings losses in the strategy, formerly known as the Paulson Gold Fund, to 65 percent since the start of the year, the firm said.

The fund, which consists mostly of Paulson's own money, is the smallest strategy of the $19 billion money manager and the only one to post losses this year.

The firm reiterated its commitment to investing in bullion and stocks of gold producers for protection against currency debasement as central banks pump money into the global economy. Gold dropped 12 percent in June, the most since October 2008, after Federal Reserve Chairman Ben S. Bernanke said he may start reducing bond purchases that have fueled gains in financial markets globally.

“Although the timing is uncertain, if you have a long-term view we believe the funds offer the potential for outsized returns,” the firm said. ...


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PRECIOUS METAL: PROTECTION OR PROFIT? - The Prospector Blog

PRECIOUS METAL: PROTECTION OR PROFIT? - The Prospector Blog | Own Gold LLC | Scoop.it

I’m no DOW fan, but it’s undeniable that investors have profited greatly since the days of 2008 volatility. Is it possible these same brave investors realized that stock holdings within profitable companies should not have declined in such a waterfall fashion, as they did fall 2008? Smart stock investors realized that such a bargain was a closing window of discounted opportunity.

Today’s physical silver or gold opportunity reminds me of the discounted blue-chip stock offerings of late 2008. I won’t speculate when precious metal prices will rebound but I can guarantee one thing. An ounce of physical silver, or gold, is worth far more today than what a person can buy it for, just like a 2008 blue chip stock.

Profit or protection:

If you’re protection minded, PM speaking, then the latest PM price drop means little…… maybe even nothing. Your plan is all about long-term fiscal prudence all while realizing a currency built on overpopulation (printing) cannot sustain value or buying power forever. A temporary waterfall decline within your PM plan – although disheartening – means little when compared to your plan of preservation, self-reliance, and independence. ...


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Hal's curator insight, July 9, 2013 8:16 AM

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Financial Meltdown, Back-To-Back “Stick Saves” & Gold

Financial Meltdown, Back-To-Back “Stick Saves” & Gold | Own Gold LLC | Scoop.it

Robert Fitzwilson tells King World News:  

 

Since 1980, the amount of debt-based money has exploded.  If that simple valuation metric of comparing the price of gold to the amount of money is applied, gold is drastically undervalued.  

 

Given that the zero interest rate policy and unlimited printing of money have been a major factor in the current prices and valuation factors for stocks, it is not accurate to look favorably on how cheap stocks might be while saying that gold is overvalued, when both are being driven by the same artificial supports.

 

Gold is not being driven by inflation, regardless of which statistics one believes.  The term inflation itself was quietly converted last decade from increases in the supply of money to prices.  Jastram’s seminal work on gold showed that gold actually outperforms in deflationary environments.  During World War I, as the prices of commodities soared, gold actually lost relative value.  However, the dialogue in the media continues to focus on a lack of price inflation as to why gold has been selling off.  It could not be further from the truth. ...


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Hal's curator insight, July 3, 2013 7:29 AM

Click through for the charts and the full piece on King World News. He also discusses the stock market. For me, again, "it's the debt, stupid."

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The Golden Truth: The Economy Is Quickly Headed South - QE 4 To Follow

The Golden Truth: The Economy Is Quickly Headed South - QE 4 To Follow | Own Gold LLC | Scoop.it
Sure baby, mañana. It was always mañana. For the next few weeks that was all I heard––mañana a lovely word and one that probably means heaven.  - Sal Paradise, main voice in Jack Kerouac's  "On The Road"

 

That famous line from "On The Road" came to mind after I read a summary of the Fed's Bill Dudley's speech today in which he admitted that the Fed is often "too optimistic" in its economic forecasts but that he himself saw a stronger economy in 2014:  "Tomorrow and tomorrow and tomorrow...It's a tale told by an idiot, full of sound and fury, signifying nothing" (Macbeth).

For two days in a row now, the stock market - as represented by the S&P 500 - opened up with big moves higher, only to reverse course and close well off its highs of the day.  As I write this, the SPX has sold off into negative territory.   If the outlook is for a better economy, why this market action?  In fact, yesterday the Dow Jones homebuilder Index closed negative and over 2% off of its early-day highs.  This is the action of a market that wants to go lower and it wants to go lower because fundamentals are deteriorating. ...


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Has Gold's 'Bubble' Burst Or Is This A Golden Buying Opportunity ...

Has Gold's 'Bubble' Burst Or Is This A Golden Buying Opportunity ... | Own Gold LLC | Scoop.it
The volatility of recent weeks is but a mere small taste of the volatility in store for all markets in the coming months and years. The global debt crisis is likely to continue for the rest of the decade as politicians and central ...
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Gold Rebounds 2.6% - Wall Street Journal

Gold Rebounds 2.6% - Wall Street Journal | Own Gold LLC | Scoop.it
Gold Rebounds 2.6%
Wall Street Journal
This was gold's biggest increase in percentage terms in more than nine weeks, and comes on the heels of the metal's worst-ever quarter.
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Andrew Maguire - There's Absolutely No Physical Gold For Sale ...

Andrew Maguire - There's Absolutely No Physical Gold For Sale ... | Own Gold LLC | Scoop.it
Dear CIGAs, Whistleblower Andrew Maguire stunned King World News when he stated that during this brutal takedown in the price of gold, no physical gold ha.
Own Gold LLC's insight:

Own Gold LLC has gold for you to buy, thats physical gold of course!!

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Gold Rallies After Record Quarterly Plunge - Fox Business

Gold Rallies After Record Quarterly Plunge - Fox Business | Own Gold LLC | Scoop.it
Telegraph.co.uk Gold Rallies After Record Quarterly Plunge Fox Business Investor confidence in the metal has been eroded - gold plunged 23 percent in the second quarter - as Fed Chairman Ben Bernanke laid out a strategy to roll back the bank's $85...
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Gold, silver up on sustained buying - The Hindu

Gold, silver up on sustained buying - The Hindu | Own Gold LLC | Scoop.it
Indian Express
Gold, silver up on sustained buying
The Hindu
Both the precious metals, gold and silver, on Monday rose further in the bullion market on sustained buying by stockists amid a firm global trend.
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Russia and China Building Their Gold Reserves

Russia and China Building Their Gold Reserves | Own Gold LLC | Scoop.it
Western economic commentary on China and Russia is usually coloured by monetarist assumptions not necessarily shared in Moscow and Beijing. For this reason, Russian and Chinese fiscal and monetary policies are misunderstood in financial markets ...
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Deutsche Bank: No 1980 redux, gold rout mostly over

Deutsche Bank: No 1980 redux, gold rout mostly over | Own Gold LLC | Scoop.it
30 years ago US short term interest rates were at 20% making gold much less attractive than today.

 

by Frik Els:

 

The spot gold price made a nice move higher early Monday as traders capitalize on improved sentiment and a major bullion bank said the gold rout may have run its course.

 

In early morning trade the yellow metal was trading not far off its highs at $1,232 after gaining as much $20 or 1.65% in the first couple of hours of regular trading in New York.

 

The gold price is down 26% this year and trading near 3-year lows after dramatic falls in April saw the gold price drop $200 over a matter of days, but at least one investment bank believes the worst is over for gold bugs.

MarketWatch quotes a research note from Deutsche Bank out ...


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101M Get Food Aid from Federal Gov’t; Outnumber Full-Time Private Sector Workers | CNS News

101M Get Food Aid from Federal Gov’t; Outnumber Full-Time Private Sector Workers | CNS News | Own Gold LLC | Scoop.it

By Elizabeth Harrington

 

(CNSNews.com) – The number of Americans receiving subsidized food assistance from the federal government has risen to 101 million, representing roughly a third of the U.S. population.

 

The U.S. Department of Agriculture estimates that a total of 101,000,000 people currently participate in at least one of the 15 food programs offered by the agency, at a cost of $114 billion in fiscal year 2012.

That means the number of Americans receiving food assistance has surpassed the number of full-time private sector workers in the U.S.

 

- See more at: http://cnsnews.com/news/article/101m-get-food-aid-federal-gov-t-outnumber-full-time-private-sector-workers#sthash.oqHD38LI.dpuf


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Hal's curator insight, July 9, 2013 7:35 AM

Excuse me? Is this how you spell recovery?

 

hat tip to www.drudgereport.com 

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Lower prices lures China,emerging market Central Banks to Gold

Lower prices lures China,emerging market Central Banks to Gold | Own Gold LLC | Scoop.it

LONDON (Bullion Street): Lower prices have lured emerging market Central banks to gold and this is evident from the data reported by International Monetary Fund. In April and May, 24 tonnes of gold were bought by central banks, ETF Securities Ltd said in a weekly report. Chinese consumers are also seeing lower prices as a buying opportunity. ...


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Repeating history and gold bear market

Repeating history and gold bear market | Own Gold LLC | Scoop.it

TORONTO(BullionStreet): History has a knack of repeating itself and that factor alone could guide the metal towartds the green light at the end of the tunnel.

 

According to latest mining industry comment by Jennings Capital Inc, gold could be close to the end of the rout though continued price weakness is possible with an implied target gold price of about $1,080 an ounce.

 

The report said : We have examined this gold bear market compared to the previous ones during the past 40 years to have an understanding of how both the commodity and the equities could respond.

 

The weighted average historical duration of previous gold bear markets was 3.2 years with a weighted average price decline of 43%.

 

This suggests to us that we could be close to the end of the rout though continued price weakness is possible with an implied target gold price of about $1,080/oz (a further 11% decline).

 

We have also examined the widening gap between the commodity and equity valuations which ...


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Singapore opens world's first physical precious metals exchange

Singapore opens world's first physical precious metals exchange | Own Gold LLC | Scoop.it
The exchange allows traders to buy and sell precious metals securely and conveniently, supporting real-time transactions with internationally recognised mints.

 

SINGAPORE(BullionStreet): In yet another attempt to encourage gold trading in the country, Singapore's SGPMX, (Singapore Precious Metals Exchange) on Wednesday launched the world's first physical precious metals exchange with peer-to-peer bullion trading capabilities integrated into the trading platform.

 

As part of the launch, SGPMX also announces the entry into an MOU with Certis CISCO which will act as the custodian for bullion storage.

The platform which will operate 24/7 will allow investors and traders to buy and sell physical gold for as little as $1,000.

 

After they have bought it, the exchange will also provide facilities to store the gold with Certis Cisco Singapore. ...


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John Embry: The Gold & Silver Takedown & A Major Geopolitical Eruption

John Embry: The Gold & Silver Takedown & A Major Geopolitical Eruption | Own Gold LLC | Scoop.it

John Embry tells King World News:

 

It’s also obvious that the commercials are in the process of getting long the gold market for the first time in over a decade.  I’ve always believed that when we saw the commercials move to the long side of the gold market that it would presage a major up-move.  

 

So the gold market is in the process of moving into a remarkable position right now, and I expect an explosive move higher in coming months.  There is nothing positive taking place in the global economy, and now we have this mess flaring up in Egypt which has the price of oil trading near $100.  That’s the last thing an already weak global economy needs to see.

 

The last thing the world needs at this point is a major geopolitical eruption with disastrous implications.  This would be coming at a time when the West can’t even deal with its own financial issues.” 


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Hal's curator insight, July 3, 2013 7:43 AM

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Unprecedented Volatility has Begun | Michael Pento | Safehaven.com

Unprecedented Volatility has Begun | Michael Pento | Safehaven.com | Own Gold LLC | Scoop.it

I have warned investors in the past that the Fed's rapid expansion of credit would cause the U.S. economy to enter a period of unprecedented volatility between inflation and deflation. This would lead to violent moves in most markets, especially interest rate sensitive investments. That time has now arrived.

 

The easy monetary policy from most central banks has led to low interest rate addictions and global imbalances on a massive scale. Therefore, any threatened removal of central banks' liquidity would cause the pendulum to swing intensely from inflation to deflation. Recent communications from the People's Bank of China and Fed (although a parade of FOMC members has been trying to recant Bernanke's comments) have tried to wean the market's dependency on free money.

 

The problem is markets have become so addicted to low interest rates and liquidity injections that even a hint at preparing markets for the eventual increase of rates caused massive repercussions. Perhaps that is the message plunging commodity prices have been telling us.

 

In China, the threat of withdrawing stimulus caused their interbank lending rate (SHIPOR) to spike from 3%, to over 10% within a week. This tells us Chinese real estate assets are in such distress that banks do not trust each other's collateral when making overnight loans. Sort of reminds you of our LIBOR market debacle the U.S. suffered through back in 2008 before the S&P 500 plunged 60%. The manipulation of money supply and investments by the Chinese government caused runaway inflation in their housing sector. Now, the attempt at normalization in the real estate market by the new Xi Jinping regime has revealed its insolvent condition and helped send the Shanghai Stock Market down 15% in the last month.

 

Some countries have just begun the pursuit of record-breaking inflation. In Japan, the Abe regime is not pursing policies that promote viable economic growth; but has instead based a recovery on currency destruction and inflation. Europe has already aggressively tried ...


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Gold Traders Seeking Floor After $66 Billion Rout: Commodities - Bloomberg

Gold Traders Seeking Floor After $66 Billion Rout: Commodities - Bloomberg | Own Gold LLC | Scoop.it
Telegraph.co.uk
Gold Traders Seeking Floor After $66 Billion Rout: Commodities
Bloomberg
Gold has further to drop in the rout that erased $66 billion from the value of investor holdings and took prices below the level some mines need to break even.
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The London Gold Market: What's Behind the Smoke and Mirrors?

The London Gold Market: What's Behind the Smoke and Mirrors? | Own Gold LLC | Scoop.it
In our last two major research pieces we have been looking at the working parts of the gold market and where the heart of it lies. We're trying to help investors understand where gold prices are really set.
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Is The Bubble Phase About To Begin?

Is The Bubble Phase About To Begin? | Own Gold LLC | Scoop.it
Gold has just corrected 37%, miners almost 70%. No one even believes that gold will ever see $1900 again, much less many multiples higher than that. Yet gold has now put in place the necessary conditions for a bubble to begin.
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PRECIOUS-Gold up around $1240/oz as dollar steady, equities ease - Reuters

PRECIOUS-Gold up around $1240/oz as dollar steady, equities ease
Reuters
LONDON, July 1 (Reuters) - Gold rose on Monday after posting its biggest quarterly fall on record, as the dollar steadied and equity markets eased ahead of U.S.
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The Golden Cycle

The Golden Cycle | Own Gold LLC | Scoop.it
Unfortunately just like 1976, a true economic recovery is not just around the corner. More likely we are in the eye of an economic storm that will blow much harder than the stagflation winds of the Jimmy Carter years.
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