Gold and What Moves it.
85.9K views | +0 today
Follow
Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
Curated by Hal
Your new post is loading...
Your new post is loading...
Scooped by Hal
Scoop.it!

Still Churning. the algos are in charge. #Gold #Silver

Still Churning. the algos are in charge. #Gold #Silver | Gold and What Moves it. | Scoop.it

TF Metals writes: 

 

" ... For today, the algos are in charge and The Cartels are ensuring that price gets pegged where they want/need it for option expiration and the CoT survey. I don't expect any substantial rallies but I don't expect any major selloffs, either. ..." click through for the charts and the full analysis.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Chart Of The Day: Continued Collapse In Capital Goods New Orders Confirms US Is In Recession | ZeroHedge

Chart Of The Day: Continued Collapse In Capital Goods New Orders Confirms US Is In Recession | ZeroHedge | Gold and What Moves it. | Scoop.it
While the just released Durable Goods orders report for October came in modestly better than expected (which many thought would be a decline due to Hurricane Sandy), the primary driver of this continues to be record durable good inventory...
more...
No comment yet.
Scooped by Hal
Scoop.it!

Ted Butler: A Manipulation Time Line - Ed Steer's Gold & Silver Daily

Ted Butler: A Manipulation Time Line - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it
It appears that Friday's price rally in all precious metals was met with massive short selling by JPMorgan Chase et al...

 

Ed Steer writes in his daily:

 

"Here are a few sentences I stole from silver analyst Ted Butler's short Monday commentary to his clients regarding yesterday's COT Report...

 

"By my calculations, JPMorgan is holding a net short position of 35,000 contracts in COMEX silver futures, one of their largest short positions ever, as of the latest COT. That’s the equivalent of 175 million oz. Because there was also a large increase in spread positions in the Disaggregated COT report, JPM’s market share is now up to 34% of the entire short side of the COMEX silver futures market. While I am stating this as factually as possible, it almost qualifies as being unbelievable."

 

"Nothing free market about this. If you want a visual and historic representation of the COT reports going back about 16 year...these linked interactive charts show the short and long term trends for all COT categories, which are visible at a glance. For gold the link is here...and for silver the link is here.

 

"Yesterday's COT Report snapshot of the 'big 4' and 'big 8' short-side traders comes in this excellent graph of "Days of World Production to Cover Comex Short Positions" as provided by Nick Laird. ..."

 

click through for the full piece and the chart.

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Japanese Are About To Enter The Gold Market In Size

The Japanese Are About To Enter The Gold Market In Size | Gold and What Moves it. | Scoop.it

Caesar Bryan tells King World News:

 

"... It looks like the opposition leader, Abe, will be the next Prime Minister.

 

"He’s been very outspoken, asking for the BOJ to be much more aggressive in lowering the value of the yen. He suggested they should buy construction bonds directly from the government. This crosses the boundary of deficit financing. The Bank of Japan has been pushing back, and the head of the BOJ has been stressing the independence of the Bank of Japan.

 

"But it seems to me that the Japanese are close to some sort of agreement on weakening the yen. This will spur demand for gold from the Japanese public. Up to now the Japanese have been relatively quiet when it comes to gold, but I think things are stirring. If you look at the gold price in yen, it’s right back to the highs from February. So gold has had a good run as the yen has weakened. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Turk - The LBMA Is Moving To Cover Up Silver Manipulation

Turk - The LBMA Is Moving To Cover Up Silver Manipulation | Gold and What Moves it. | Scoop.it

Today James Turk spoke with King World News about steps which are being taken by the LBMA and Western central planners to cover up the corruption and manipulation in the gold and silver markets. This is the first in a series of interviews with James Turk that will be released today which reveals what is going on behind the scenes of the increasingly desperate Western central bank gold and silver price suppression scheme.

 

Here is what Turk had to say about what is now taking place: “They (the LBMA) are making it more and more opaque. Less and less information is being made available. Specifically, what’s happened here is that the LBMA had been reporting the silver lending rate and comparing it to the LIBOR rate.”

more...
No comment yet.
Scooped by Hal
Scoop.it!

#Gold prediction following the breakout from congestion

Anna Coulling writes:

 

"... From a technical perspective, having broken above the sideways congestion in the $1720 to $1740 per ounce region, Friday’s price action has now created a strong platform of support for a sustained move higher. Yesterday’s price action was muted, with the market trading in a tight range to close marginally lower at $1749.60. However, with the US dollar now looking weak, the next technical level on the chart is the deep level of price congestion between the $1770 and $1800 per ounce region, and with rising bullish volumes on the daily chart, we should see a run back to test this level in due course.

 

"For the trend to develop further, we need to see this positive sentiment reflected on the three day chart, where the longer term trend remains firmly bearish for the time being. In addition, we have yet to see the buyers return in this timescale, with volumes remaining negative or neutral. For a break beyond the $1800 per ounce price level, we need to see a transition in the three day trend, at least to congestion in white, which will then signal a move from bearish to bullish, and provided this is coupled with buying volumes, then this will provide the necessary momentum, and no doubt put a smile back on the face of gold bugs everywhere! ..." click through for the full piece and chart.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold and silver are very close to a breakout by Peter Grandich

Peter Grandich writes:

 

"... Gold and silver are very close to a breakout and a run to the biggest resistance number for gold in quite some time ($1,800). ..." click through for the chart.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Neither Management Nor Labor Killed The Twinkie: We All Did

Neither Management Nor Labor Killed The Twinkie: We All Did | Gold and What Moves it. | Scoop.it

Jim Karger writes:

 

"I came close to avoiding the Twinkie topic entirely, if only because so many have already taken it on in animated, breathless fashion. The right-wing has firmly laid the blame on the union, those greedy bastards. After all, had they convinced their members to give up more of their pay, 18,000 would still have a job and all would be making far more than the average American worker.

 

"The left has indicted, convicted, and is ready to execute all Hostess executives, those high paid greedy bastards. After all, they were making millions, even giving themselves pay increases while the little guys were shaking in their boots, dreading the very day that came last week.

 

"On its face, it seems there is a disagreement here, but fundamentally, both sides agree: greed is the problem. They just can't agree on who is greedier. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Twitter / LearCapital: There are a Defining Investment ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

Your Personal Bailout - a G.I.F.T. | GE Christenson | Safehaven.com

Your Personal Bailout - a G.I.F.T. | GE Christenson | Safehaven.com | Gold and What Moves it. | Scoop.it

This is funny by GE Christenson:

 

(DRAFT - not for release until late December 2012 pending Congressional approval!)

 

Dear (Insert name of taxpayer from database here):

 

As you know, we are living in trying and uncertain times. Our economy has been in the worst slump since the 1930s. To counter the slump, the U.S. Treasury Department and the Federal Reserve are pumping unprecedented amounts of money, both borrowed and printed, into the economy. The total to date for bailouts, outright purchases, "loans," "investments," and guarantees exceeds $16 Trillion, with much more on the way.

 

We at the Department of Equal Financial Opportunity ...

 

Click through to read the rest. It's funny. I know what I would do with my check.

more...
No comment yet.
Scooped by Hal
Scoop.it!

Price Of Gold Surges Over Thanksgiving For The First Time In 5 Years

Price Of Gold Surges Over Thanksgiving For The First Time In 5 Years | Gold and What Moves it. | Scoop.it

Tim Iacono writes:

 

"Up until a short time ago -- that is, before the price of gold jumped nearly $20 an ounce as investors became more hopeful about the U.S. economy, due to a big turnout for Black Friday shopping, and the euro strengthened against the dollar on renewed optimism about a Greek debt deal -- it didn't seem as though it would be worth the trouble to update the graphic below. But now that the price of gold is sharply higher, suddenly it does.

 

"As shown below, although it hasn't done so in recent years, the price of gold has a history of making big moves on Thanksgiving Day and the Friday that follows when many U.S. traders are away from their desks. If prices remain steady for the rest of the day, it looks as though 2012 will trail only 2005 and 2007 for the biggest two-day gains (i.e., from the Wednesday close until the Friday close). ..." click over for the graph and rest of Tim's piece.

more...
No comment yet.
Scooped by Hal
Scoop.it!

We Are About To Crush 15 Years Of Resistance In Gold & Silver

We Are About To Crush 15 Years Of Resistance In Gold & Silver | Gold and What Moves it. | Scoop.it

John Embry tells King World News:

 

"... you have to understand the extent to which the gain on Friday was fought. There were explosions in open interest on the COMEX. Open interest in gold contracts increased over 14,000 contracts. Open interest increased almost 4,000 contracts in silver.

 

"These are big numbers....

 

“Just to put the increase in open interest in silver in context, that’s almost 20 million ounces of silver being shorted. There are only 2.5 million ounces coming out of the ground in a given day. So make no mistake, this move upwards in gold and silver prices is being violently resisted.

 

"This is all orchestrated so it’s not surprising. The good news is that it is minor because for so many years when you had this kind of increase in open interest it was just a setup to kill the small speculators. But now they are having more and more problems because the guys that are buying on ..."  click through for the rest.

more...
No comment yet.
Scooped by Hal
Scoop.it!

South Africa’s gold industry on edge - Gold Fields

South Africa’s gold industry on edge - Gold Fields | Gold and What Moves it. | Scoop.it

The bullion miner says South Africa’s gold mining industry, one of the country's most important sectors, is on the brink and will collapse if no steps are taken to boost its productivity.

 

by Sherilee Lakmidas:

 

"South Africa’s gold mining industry, one of the country's most important sectors, is on the brink and will collapse if no steps are taken to boost its productivity, the world's fourth-largest bullion producer Gold Fields said on Monday.

 

"The mining industry in Africa’s biggest economy, particularly its gold and platinum producers, have just emerged from one of the toughest periods in their history with mines ground to a halt by months of wildcat strikes.

 

"If the last five years' decline in production continues, there will be no industry in five years time," Gold Fields' Chief Financial Officer Paul Schmidt said as the company unveiled its third quarter earnings.

 

"The strikes have exacerbated a difficult situation for companies already battling for years with rising labour costs and steep electricity tariffs. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Europe's Latest Can-Kicking Euphoria Fading Quick | ZeroHedge

Europe's Latest Can-Kicking Euphoria Fading Quick | ZeroHedge | Gold and What Moves it. | Scoop.it

Tyler Durden writes:

 

"... In other words, the use of funds for the third Greek bailout has been more than detailed. The only tiny outstanding issue - the source of funds.

 

"But don't worry: Europe's magic money tree is second to none when it comes to fruiting "confidence", "hope" and other such European synonyms to BS.

 

"Not helping things is the accelerating selloff in Greek banks, which were down as much as 10%, on the realization that a bond write down from par to 35% implies a major balance sheet hit, and an impairment of repo-eligible collateral, which also means said Greek banks will need to raise even more capital, which in turn means that of the EUR44 billion or so coming Greece's way, even more will have to be diverted to bailing out its insolvent banking system.

 

"Of course, who in their right mind could conceive that you can't fix "more debt" with "more debt. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Gold Market Through China's Eyes - Casey Research

The Gold Market Through China's Eyes - Casey Research | Gold and What Moves it. | Scoop.it
Gold is available from surprising sources in China.

 

Jeff Clark:

 

"Have you ever wondered what the typical Chinese gold investor thinks about our Western ideas of gold? We read month after month about demand hitting record after record in their country – how do they view our buying habits?

 

"Since 2007, China's demand for gold has risen 27% per year. Its share of global demand doubled in the same time frame, from 10% to 21%. And this occurred while prices were rising.

 

"Americans are buying precious metals, no doubt. You'll see in a news item below that gold and silver ETF holdings just hit record levels. The US Mint believes that 2012 volumes will surpass those of 2011.

 

"But let's put the differences into perspective. This chart shows how much gold various countries are buying relative to their respective GDPs. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Gold hits all-time in India

Gold hits all-time in India | Gold and What Moves it. | Scoop.it
According to analysts the price hike was the result of a combination of factors including demand from stockists and jewellers amid continuing weakness in rupee.

 

KOCHI (BullionStreet): "Gold prices hit an all time high in India ,world's largest consumer, Tuesday as a sovereign of gold (8 grams) cost Rs 24,240 here,up by Rs 80 from Monday.

 

"According to analysts the price hike was the result of a combination of factors including demand from stockists and jewellers amid continuing weakness in rupee.

 

"Rupee declined for the fifth day in a row and lost 22 paise to close at 55.73 against the US dollar. A weak rupee will increase the import cost of gold. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Twitter / JamesGRickards: Friends in #India always said ...

more...
No comment yet.
Scooped by Hal
Scoop.it!

India Gold demand to fall by 170 tons in 2012

An estimated shortfall of around 170 tons is seen around this year, analysts said. India imported a record 969 tons in 2011, up from 958 tons in 2010.

 

NEW DELHI(BullionStreet): "Days after reports said China's gold demand to cross 1,000 tons a year from next year, a WGC official said Indian demand is expected to touch 800 metric tons in 2012.

 

"According to Amresh Acharya, director of investment at World Gold Council's India office,gold demand in the world's largest consumer is expected to rise as much as 23% from a previous estimate of around 650-750 tons.

 

"An estimated shortfall of around 170 tons is seen around this year, analysts said. India imported a record 969 tons in 2011, up from 958 tons in 2010.

 

"He attributed the projected increase to revival in purchases during the festive season and signs of a revival in economic growth. Demand in the July-September period rose by 9% to 223.1 tons, the council said.

 

"Analysts however said Indian demand will boost global and country’s prices further. Prices rose by Rs 25 to set a new record of Rs 32,975 per 10 gm here Tuesday. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

End of Gold mining five years away

End of Gold mining five years away | Gold and What Moves it. | Scoop.it
The gold price, hovering at less than R498 000/kg, is the highest it has been, but South African gold producers are losing out on the boom as production ramps up after weeks of strikes, but slowly.

 

By Allan Seccombe

 

"The gold industry in South Africa will no longer exist in five years if conditions stay the same, executives at Gold Fields warned on Monday after lowering their production forecast for this year by 200 000oz due to wildcat strikes, a fire and operational problems.

 

"The gold price, hovering at less than R498 000/kg, is the highest it has been, but South African gold producers are losing out on the boom as production ramps up after weeks of strikes, but slowly.

Gold companies are facing soaring costs and stagnant, if not falling, productivity levels. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Fireman Ed Flees Jets Games, Team In Disarray

Fireman Ed Flees Jets Games, Team In Disarray | Gold and What Moves it. | Scoop.it
Fireman Ed writes that he's done going to Jets game. The fans, he says, have made him feel unwanted.

 

Why is this in the gold category? Well, it's simply here because I find it to be further evidence of the divisive and discontented nature that people in the USA are transitioning too. Something encouraged by the government (both sides).

 

How much it reminds me of Rome and the Colosseum events. People are losing their love and respect for one-another during these difficult times and leaders are using and playing that to their advantage. It's going to affect the economy and currencies because it's not just happening in the USA.

more...
No comment yet.
Scooped by Hal
Scoop.it!

oftwominds-Charles Hugh Smith: The Guilt-Free, Needless-Gift-Free Christmas

oftwominds-Charles Hugh Smith: The Guilt-Free, Needless-Gift-Free Christmas | Gold and What Moves it. | Scoop.it

Charles Hugh Smith writes:

 

"It's time we freed ourselves from needless stuff, needless calories, needless spending, needless guilt and needless derangement.

 

"My Mom, bless her heart, drove a stake through the guilt-ridden, retail-riot needless-gift Christmas madness: "Let's not exchange gifts this year--none of us need more stuff or calories." Done! We are having a gift-free party, where the "gifts" will be the experience of conviviality and the memories.

 

"No matter how "small" the gifts may be, the guilt-soaked onus to buy something, anything for everyone in the family/enterprise is deranging. What most households need is not more stuff but someone to haul stuff away.

 

"Is Anybody Else Tired of Buying and Owning Stuff? (September 7, 2012). The real gift to loved ones would be freeing them of stuff they no longer use.

 

"We as a nation are awash in stuff. Dumpsters are crammed with perfectly good food (an estimated 40% of food in America is thrown out), perfectly good electronics, still usable furniture, and on and on. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Welcome to the Currency War, Part 5: The Dollar Gets Serious Competition | John Rubino | Safehaven.com

Welcome to the Currency War, Part 5: The Dollar Gets Serious Competition | John Rubino | Safehaven.com | Gold and What Moves it. | Scoop.it
Not so long ago the dollar was the world's only reserve currency. Everything else was ono step down in terms of safety and liquidity, and major financial institutions acted accordingly, accumulating dollars for the risk-free parts ...

 

John Rubino writes:

 

"... Categorizing Canadian and Australian dollars as reserve currencies makes sense when you view those countries in terms of gold, oil, sunshine and other resources per citizen. By that measure, each Canadian and Australian dollar is backed by a lot more real value than are the currencies of the paper-dependent societies like the US, Europe and Japan. If, as seems likely, we're in the early stages of a shift away from financial assets and towards real things, the relative strength, and currency exchange rates, of the better-run resource-based economies will keep improving, making their currencies less risky and more profitable investments.


"Note that the Chinese renminbi (aka the yuan) and Singapore dollar aren't on the list. But they will be soon, with China now the second biggest economy (and an aggressive importer of gold) and Singapore becoming the preferred destination of global savings (especially gold storage) now that Switzerland has been cracked by the IRS and other tax authorities.  ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The Golden Truth: Expect Wall Street's Crime Spree To Continue Unabated

The Golden Truth: Expect Wall Street's Crime Spree To Continue Unabated | Gold and What Moves it. | Scoop.it

Dave in Denver writes:

 

"As everyone who reads this blog knows, the rate of enforcement and prosecution of financial markets crimes under Obama has declined by over 25% from the Bush administration. This is not political demagoguery or biased commentary, this is black and white numerical fact. And this decline comes despite some of the most grand scale big bank open theft of customer funds in the history of this country.

 

"Today it was announced that SEC head jester, Mary Shapiro, is leaving the SEC and stepping down from her scandal-laced chairmanship. One would think that it would be an ideal time for Obama to make amends with his voting supporters and undertake steps to completely overhaul the SEC, right? Instead, we get a retread from the Bush administration as Obama's new appointee, Elisse Walter ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

Indian central bank's candid objective: to 'dematerialize' gold, making it only imaginary | Gold Anti-Trust Action Committee

Indian central bank's candid objective: to 'dematerialize' gold, making it only imaginary | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

GATA posts:

 

From The Economic Times

(The Times of India, Mumbai)
Sunday, November 25, 2012

 

PUNE, India -- "Reserve Bank Deputy Governor Subir Gokarn today said there is a need to "dematerialise" gold like any other financial product to reduce its physical imports, the rise of which has been blamed for the high current account deficit that is feared to touch new record high this year.

 

"High gold imports are "creating some macroeconomic stresses and so the challenge is to find ways to replicate the financial characteristics of gold without necessarily causing physical importing," Gokarn told the last day of the two-day annual Bancon conference here.

 

"The current account deficit has been rising on the back of record trade deficits, which in October jumped to a 12-year high of $21 billion on the back of rising oil and gold imports. ..."

more...
No comment yet.
Scooped by Hal
Scoop.it!

The unintended consequences of printing money, which favours gold

The unintended consequences of printing money, which favours gold | Gold and What Moves it. | Scoop.it

Leading investor Marc Faber thinks money printing brings more and unpredictable volatility and believes that it is a must, going forward, for every individual and investor to own gold.

 

"Marc Faber is one of the very successful investors on earth. He recently explained his view on the monetary policies of the developed regions in the world. Obviously he is no fan of the Keynesian way of thinking which is applied by the central banks in the developed regions.

 

"The Keynesian policy considers easy money as a way out of economic recession and deflation. They argue that money creation smoothens out the business cycle. In his presentation, Marc Faber demonstrates that these kind of interventions achieve exactly the opposite: they make the business cycles much more violent, create extreme fluctuations in economic activity and result in far more financial volatility. In his opinion, the essential problem is ..."

more...
No comment yet.