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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Three More Spanish Banks In Merger Talks

Three More Spanish Banks In Merger Talks | Gold and What Moves it. | Scoop.it

by Oliver Tree:

 

"Three of Spain's ailing regional banks are in talks about a possible merger, as the lenders struggle to cope with billions of euros in bad property debt.

 

"Liberbank, Ibercaja and Caja 3, who together hold toxic real estate assets valued at around €11.8 billion ($14.8 billion), are at an advanced stage of merger negotiations, according to a source quoted by Reuters.

 

"The merger talks come after Spain's second largest bank, Bankia, asked the government for €19 billion in bailout funds on Friday, fuelling speculation the country will soon have to approach international lenders for a much larger bailout amidst worsening finances and a sinking economy..."

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China's biggest bank wants to get into gold leasing | Gold Anti-Trust Action Committee

China's biggest bank wants to get into gold leasing | Gold Anti-Trust Action Committee | Gold and What Moves it. | Scoop.it

"SHANGHAI -- Industrial and Commercial Bank of China Ltd is seeking membership of overseas exchanges and aims to become a major global bullion market maker, a senior executive said on Monday.

 

"The world's biggest bank by market value, ICBC is the top player by volume on China's gold and futures exchanges, but its participation in foreign markets is limited to over-the-counter trading, which reached a total $90 billion last year.

 

"Emboldened by Beijing's ambitions to have a bigger say in global commodity prices, ICBC now has an eye on bourses such as COMEX and on joining the 11 market makers of the London Bullion Market Association (LBMA).

 

"These quote continuous two-way bid and offer prices for gold, silver, platinum, and palladium throughout the London day, providing a liquid market in which to trade.

 

"We hope to play a bigger role in the global precious metals market and become a major market maker, like Barclays," Shen Shisheng, ICBC vice-general manager of financial markets, told Reuters on the sidelines of a conference in Shanghai.

 

"Barclays Capital is among the gold fixing members on the LBMA..."

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Greyerz - $100 Trillion+ to be Printed, Expect Capital Controls

Greyerz - $100 Trillion+ to be Printed, Expect Capital Controls | Gold and What Moves it. | Scoop.it

Today Egon von Greyerz told King World News, “The tens of trillions of dollars that needs to be printed is without derivatives. With derivatives we are talking about hundred of trillions of dollars that may need to be printed.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said, “We will have exchange controls in virtually every country. I can see this coming to the US in the next year or two.” But first, here is what Greyerz had to say about what is happening in Europe: “The bail out for Spain’s Bankia is now up to $25 billion in refinancing requirements, but that’s just the beginning. We’re looking at country after country here where the dominos are falling. The refinancing requirements worldwide are getting astronomical, and they will escalate at a faster rate.”

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Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years | CNSNews.com

Escape From New York? High-Taxing Empire State Loses 3.4 Million Residents in 10 Years | CNSNews.com | Gold and What Moves it. | Scoop.it

by Elizabeth Harrington:

 

(CNSNews.com)- "New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, according to the Tax Foundation.

 

"Over that decade the state gained 2.1 million, so net migration amounted to 1.3 million, representing a loss of $45.6 billion in income.

 

"Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.

 

"Over that same time period, 208,794 Pennsylvanians moved to Florida, taking $8 billion in income..."

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The Golden Constant - Casey Research

Though gold is currently one of the most unloved sectors, David Galland discusses why it still looks really good compared to other commodities.

 

"...Gold. In the context of its secular bull market, and given that absolutely nothing has gotten better about the sovereign debt crisis – only worse – gold's correction is nothing to be concerned about.

 

"I know the technical types will point to levels such as $1,540 as important resistance points – and there's no question that if gold was to break decisively below that level, and especially below $1,500 – that a lot of autopilot trades would kick in and put further pressure on gold.

 

"Yet, when you view the market through the lens of hard realities, which is to say, by focusing on the intractable mess the sovereigns have gotten the world into… in Europe, in Japan, in China and here in the US… then viewing gold at these levels as anything other than an opportunity is a mistake..."

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Investors Are Unprepared For The Coming Detour

Investors Are Unprepared For The Coming Detour | Gold and What Moves it. | Scoop.it

Robert Fitzwilson tells King World News:

 

"Since early 2009, we predicted that the central banks of the world would engage in massive printing and stimulus in order to avoid the only other alternative, a global depression. Over $20 trillion of stimulus was promised by the major countries. Our TARP program was mostly used to recapitalize the global banking system; the primary stimulus in the last round came from China.

 

"Let us take a look at what ensued starting with technology. During the week of March 9th, 2009, Google bottomed at $289. Today it trades at $603. Apple bottomed out at $82.57. Today, despite a 10-15% pullback from the recent high, it trades at $561.

 

"Turning to oil, The key economic input, it traded as low as $33.55 per barrel during the week of February 9th of 2009. Oil is now trading at roughly $90 per barrel for West Texas Intermediate crude.

 

"Next up are gold and silver. Gold hit a low of $801.50 during the week of January 12th 2009. Gold is now trading at $1,547 in spite of all the hysteria spread by the U.S. media insisting gold is a ‘useless, volatile’ asset. Silver hit bottom during the week of December 22nd, 2008 at $10.11. It is now at $27.54, even after the savage attacks against the metal in beginning in May of last year.

 

"Last, we have the..."

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This Move Will Be Highly Inflationary & Where to Deploy Cash

This Move Will Be Highly Inflationary & Where to Deploy Cash | Gold and What Moves it. | Scoop.it

Keith Barron talks to Eric King of King World News about Greece and gold:

 

"I think if Greece goes for more austerity, you could very well see potential violent overthrow of the government. The people in Greece are really angry and they cannot take much more. The unemployment rate is far too high and it’s clear that austerity is not going to get Greece out of the hole.

 

"With that as the backdrop, the gold price for the time being is treading water. Gold is basically bouncing around and waiting for some direction. There are a couple of things which are very critical that I expect to happen. This will impact the gold price.

 

"The first is going to be the next Fed meeting, which is scheduled June 19th and 20th. The reason that will be such an important meeting is because the Fed is really going to have to bring in QE3 now if they intend to have any kind of impact on the November elections.

 

"The runway for QE3 is getting shorter and shorter. If they wait until the August meeting, they will have a political problem on their hands. The Fed is supposed to be independent, and August will be viewed as too close to the election.

 

"Another contributing factor to some upside fireworks in the price of gold will be the Greek elections. The only way to get out of this mess is massive money printing by the European Central Bank. This will be done to bail out Greece and keep the other Mediterranean countries stable. This move will be highly inflationary..."

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Gold & Silver Are the Answer in the Long-Term

“The selfish they’re all standing in lineFaithing and hoping to buy themselves timeMe, I figure as each breath goes byI only own my mind.” ~ Pearl Jam, I Am Mine ~   Long time readers know that I have been and remain bullish on gold and gold stocks...

 

"...The herd mentality exists in financial markets and a similar behavior exists among economists. Most economists in the mainstream media today tend to be Keynesians or neo-classical economists. Both viewpoints are generally accepted as the correct interpretation of economic and monetary policies by academia.

 

"However, the academic world can actually reduce open thought through ridicule and persecution. In the world of academia the herd is right, until someone proves that they are wrong using logic based reasoning.

 

"Very similar to political ideologies, economic ideologies are deeply rooted. Paul Krugman is a great example of Keynesian economist. Like it or not, the majority of economists believe his views are correct regardless of whether they are based on fact, history, or dare I say “common sense.”

 

"This leads me to the reason why precious metals and commodities in general may be approaching a major bottom and the potential for a monster rally. The reasoning stems from the fact that across the world central bankers generally share the same views as Paul Krugman. They believe that the modern finance system does not need gold and that fiat currency is the answer even though history argues in their face across multiple millennia.

 

"Most economists and financial pundits believe that sovereign debt is going to bring down the economy and they may be correct. Many believe that the debt will unleash a massive deflationary spiral that will consume fiat valuations, specifically on risk assets and debt obligations..."

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For almost a million young people: No job, no school

For almost a million young people: No job, no school | Gold and What Moves it. | Scoop.it

Nearly a million young Canadians were neither in school nor holding down a job last year, a proportion that has inched higher since the recession but remains lower than in most other G7 nations.

New analysis by Statistics Canada -- the first of its kind in the country -- finds 13 per cent, or 904,000, of the 6.8 million Canadians between the ages of 15 and 29 weren't in school nor at work last year.

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Best Bullion Blog: What Lies Ahead for Gold and Silver?

Best Bullion Blog: What Lies Ahead for Gold and Silver? | Gold and What Moves it. | Scoop.it

by Laura Gross http://twitter.com/lmgross :

 

"After a frustrating few weeks, we saw a nice pop in gold and silver last week. Analysts like Ben Davies are reporting that the liquidation in the metals is over (for now). The markets last week started turning bearish in general. After a fair amount of complacency, the VIX (fear index) closed above 25 on Friday, at levels not seen since late 2011. As I write on Monday, things are looking up again slightly with the VIX at 22.50, but it remains to be seen if fear is dissipating or if markets will turn lower. We will have to see what the next week or two brings.

  

"Due to last week’s downturn, however, investors piled into bonds, which pushed yields down across the board. As shown on this chart from Market Watch, the ten-year note is at 1.74, which is not much higher than it’s 52-week low of 1.68: http://www.marketwatch.com/investing/bond/10_year/charts We will have to see how the market reacts, but it certainly appears that we’re temporarily in a downward trend. Generally analysts agree that the Fed will start monetary easing again, possibly by late summer..."

 

Click through for the rest and be sure to grab her RSS feed.

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China Seen Launching 'Aggressive Stimulus' as Growth Slows Further

China Seen Launching 'Aggressive Stimulus' as Growth Slows Further | Gold and What Moves it. | Scoop.it
Continued weakness in China's economic data, as well as growing risks of a Greek exit from the euro zone, will drive Beijing to launch aggressive stimulus measures in order to prevent a further deterioration ...

 

"...China, which began to tighten its monetary policy in late 2009 to stem rising inflation , is now facing a sharp slowdown in the economic activity, raising fears of a hard landing for the economy.

 

"In a sign the government is already growing worried about the slowdown, a state-backed newspaper reported on Tuesday that China will fast-track approvals for infrastructure investment.
Dariusz Kowalczyk, senior economist and strategist, Asia ex-Japan, at Credit Agricole, said the weak HSBC Flash PMI data strengthen the case for easing and he expects more fiscal stimulus.

 

"The focus of the stimulus is likely to be on the fiscal side, probably as a 'mini-Lehman crisis' package of state-directed lending for investments in infrastructure, because this is the fastest way to boost aggregate demand," he said in a note to clients.


"While Kowalczyk believes monetary policy is unlikely to be used as aggressively, he expects a push towards quantitative easing through "pressuring" banks to lend more via further reductions in the reserve requirement ratio (RRR)..."

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The Golden Truth: More On Facebook And Fiat Promises

The Golden Truth: More On Facebook And Fiat Promises | Gold and What Moves it. | Scoop.it

by Dave in Denver:

 

"...the U.S. dollar (euro, British pound, yuan, etc) is nothing more than a piece of paper that must be used by all citizens as currency by order and dictate of the U.S. Government (supra). This currency is thereby mandated for all economic transactions. Because the value of the currency is based on the decree of its value by the Government, everyone who accepts its use is exposed to the risk that some day the Government will not be able to uphold its decreed value.

 

"I hope that helps explain why it is said that the U.S. dollar exposes the user to counterparty risk. There is counterparty risk embedded in the U.S. dollar because to the extent the U.S. Government allows the value of the U.S. dollar to erode, there is an event of default. The value of the U.S. dollar as measured against gold has eroded over 95% since the creation of the Federal Reserve in 1913. Why? Because the amount of dollars printed and outstanding has increased since then by a like amount in excess of the net wealth created by the U.S. system..."

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Retirement means poverty for many – by Peter Grandich

"There are a lot of things I can point to as being wrong with our society today, but one glaringly obvious shortfall is our entitlement mentality. In general, we feel we “deserve” a whole lot of stuff that we really have no right to claim. First and foremost, in my opinion, is the concept of retirement.

 

"Make no mistake about it: this whole notion of retirement is a man-made creation. There’s nothing Biblical about us supposedly killing ourselves for 75 percent of our years to store up enough assets to live off for the last 25 percent, yet that’s the system our society has built. The system is hopelessly broken and our government can do little more than try once again to kick the can down to the next generation. Somebody is going to pay an awful price.

 

"Let me give you a little background on the phenomenon we call “retirement.”

 

"In her New York Times article entitled “The History of Retirement, From Early Man to A.A.R.P.”, author Mary-Lou Weisman briefly and humorously outlines the history of retirement from Cave Man to modern day, and gives supporting facts about why retirement is not just man-made, but a 20th-century creation..."

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Capital Flight in Europe

Capital Flight in Europe | Gold and What Moves it. | Scoop.it
Even the casual observer in economic matters knows that something is wrong.

 

by Moses Kim:

 

"...capital will find its way to the dollar and U.S. Treasuries. I suspect gold is next. As yields go down, so will mortgage rates, so real estate in the U.S. should also get a boost. Real estate prices in the U.S., believe it or not, are cheap on a relative basis.

 

"The crisis in the U.S. will look something like this. Foreign outflows of capital will force us to devalue our currency, because cutting spending is not really an option for our leaders. This will lead to a rise in bond yields and an immediate and substantial rise in our debt servicing costs. This will indicate that the end is near: right when we need to borrow the most, the global market will lose its appetite for our debt. Again, everyone knows we have a debt problem, but people are underestimating its magnitude..."

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Ponzi Financing in Greece Continues; Greek Banks Receive €18bn Transfer

"Greek banks have been shut off from regular ECB liquidity operations due to lack of sufficient collateral. Today the Banks have that collateral thanks to a disbursement of funds from the EFSF which in turn will be used as collateral for more loans from the ECB.

 

"If this makes little sense to you it is because it should not make any sense to anyone. It is another act of desperation in a long line of desperate acts..."

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REVEALED: Hundreds of words to avoid using online if you don't want the government spying on you

REVEALED: Hundreds of words to avoid using online if you don't want the government spying on you | Gold and What Moves it. | Scoop.it
The U.S. Department of Homeland Security was forced to release the list by a privacy watchdog group who filed a request under the Freedom of Information Act.
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Gold Bar Demand in China Surged 51% to 213.9 Tonnes in 2011 - Ed Steer's Gold & Silver Daily

Gold Bar Demand in China Surged 51% to 213.9 Tonnes in 2011 - Ed Steer's Gold & Silver Daily | Gold and What Moves it. | Scoop.it
Very deep pockets are buying this dip...and we've seen that in the precious metal shares over the last couple of weeks as well.

 

by Ed Steer:

 

"...Gold Bar Demand in China Surged 51% to 213.9 Tonnes in 2011


"A reminder of the sharp increase in demand for gold and silver, particularly store of wealth demand, in recent years was seen in the figures released by the China Nonferrous Metals Industry Association in Shanghai [yesterday].

 

"China’s gold consumption rose 33% to 761 tons in 2011 and China’s silver consumption rose 6.8% to 6,088 tons last year.

 

"China’s gold consumption rose 190 metric tons last year to 761 tons, Wang Shengbin, China Gold Association Vice Chairman, said in a speech in Shanghai as reported by Bloomberg.

 

"China’s jewelry consumption jumped 28 % to 456.7 tons last year, gold bar consumption surged 51% to 213.9 tons and gold coin consumption gained 25% to 20.8 tons, Wang said

 

"China’s silver consumption, including industrial use, jewelry and coins, rose 6.8% to 6,088 metric tons last year, the vice chairman said. The amount shows a surplus given China’s output of 12,348 tons last year, which gained 6.3%, Wang said.

 

"This data came from the goldcore.com website..."

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Behind the scenes at the G-8 and NATO summit meetings « Jim Sinclair's Mineset

"Behind the scenes at the G-8 and NATO summit meetings, some significant decisions were made that will impact over the coming weeks.

 

"The critical decision at the G-8 meeting and several of the bilateral meetings that took place on the sidelines of the Camp David gathering centered on the decision to plunge ahead with the bailout of the European banks in an effort to save the Euro system, with Greece still inside. President Obama is terrified that a financial meltdown of the Euro system will spill over into Wall Street and result in his losing the November elections. Behind the scenes around Camp David, Christine Legarde put the IMF squarely behind a bailout of the European banks, with the full backing of the Federal Reserve and Treasury in the United States to boost the leveraged lending of the European Central Bank (ECB) to prop up the European banks. ECB will take junk bonds and other vastly over-priced assets as collateral for loans to the Spanish, Greek and other European banks. This will offset an additional estimated $500 billion in new write-offs by bondholders of Greek debt.

 

"The bottom line is that if Greece leaves the Euro, the contagion will spread overnight to Spain, Portugal, Ireland, and, perhaps, even Italy. So, the IMF, the Obama Administration and the ECB are all on board to further delay the reality of the financial and banking crisis through hyperinflationary measures. The idea is that the situation will take many months to fully play out, and Obama and his re-election team hope that the system will hold together past the November elections.

 

"In his sideline meeting with new French President Hollande, Obama reached a full agreement on this perpetuation of the Euro. This is an area where Hollande and Merkel will agree to disagree. They both want to defend the Euro, but Hollande will continue to insist that the austerity must be limited and a growth program initiated. This is actually impossible to accomplish, but this is the growing perspective of the Eurosocialists, including Hollande and his colleagues in Germany’s Social Democratic Party (SPD) and the Italian Socialist Party (PSI). A majority of Greek voters are in favor of staying in the Euro, so long as the austerity is reduced..."

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Mr. Sam's comment, May 29, 2012 3:51 PM
What I know is, one day all nations will come together in one system of economy
Hal's comment, May 30, 2012 11:34 AM
Agreed, Mr. Sam. It will happen. Not a matter of if. Just when.
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The big new thing in gold - capital adequacy ratios

The big new thing in gold - capital adequacy ratios | Gold and What Moves it. | Scoop.it

by Ross Norman:

 

LONDON (SHARPS PIXLEY) -

 

"Forgive the hyperbole in the headline but we wanted to get your attention as something quite profound is happening that could propel gold to record new highs. Yes, potentially the biggest thing since the birth of the gold ETF and the liberalisation of the Chinese gold market in 2003. A decade on and we have grounds for saying that gold may well see a significant leg higher... the big new thing in gold. I'll explain...

 

"Banking capital adequacy ratios, once the domain of banking specialists are set to become centre stage for the gold market as well as the wider economy. In response to the global banking crisis the rules are to be tightened in terms of the assets that banks must hold and this is potentially going to very much favour gold. The Basel Committee for Bank Supervision (or BCBS) as part of the BIS are arguably the highest authority in banking supervision and it is their role to define capital requirements through the forthcoming Basel III rules.

 

"In short, they are meeting to consider making gold a Tier 1 asset for commercial banks with 100% weighting rather than a Tier 3 asset with just a 50% risk weighting as it does today. At the same time they are set to increase the amount of capital banks must set aside as well. A double win potentially..."

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Rome Didn't Fall In A Day - The Dollar Vigilante Blog -

Rome Didn't Fall In A Day - The Dollar Vigilante Blog - | Gold and What Moves it. | Scoop.it

[The Following post is by TDV Correspondent, Chris Sullivan]

"Back in the '70s, I used to expect the government to suffer a financial collapse at which time it would have to quit doing most of the things it's doing because it would run out of money. That isn't what has happened. Instead of cutting spending it has printed more money and tried to increase taxes on various things.

 

"Like many things historical, there's a precedent for this. There's a proverbial saying that "Rome wasn't built in a day," but it didn't collapse in a day either. Probably most of the Romans who lived as the Empire was collapsing didn't realize that was what was happening, but plenty of them realized they weren't living in the good old days.

 

"One such person was a man named Salvian, sometimes called Salvian the Presbyter. He wrote a treatise that is called in English The Governance Of God or De gubernatione Dei in Latin*. Its original title was On The Present Judgement and it is well worth reading to see how things played out then and probably always will. His purpose was to show that the then current problems were caused by moral collapse, excessive taxation and a greedy and conniving landed class, not an abandonment of the old pagan religion. Julian the Apostate who had made the opposite argument 70 or so years before, had tried to re-institute paganism and even tried to rebuild the Temple in Jerusalem, presumably because it wasn't Christian and he liked practices such as animal sacrifice, but his efforts ended when he was killed in a war with the..."

 

Interesting read. Click through for the rest.

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45 Signs That China Is Colonizing America

45 Signs That China Is Colonizing America | Gold and What Moves it. | Scoop.it
Just because you were once the most powerful nation on earth does not mean that you will always be the most powerful nation on earth.  Every single year,...

 

"#1 It was recently announced that China’s Dalian Wanda Group has bought U.S. movie theater chain AMC Entertainment for a whopping 2.6 billion dollars. This deal represents China's biggest corporate takeover of a U.S. firm ever.

 

"#2 Earlier this month, the Federal Reserve announced that it has given approval for banks owned by the Chinese government to buy stakes in U.S.-owned banks.

 

"#3 A few days ago Reuters reported that China is now able to completely bypass Wall Street and purchase U.S. debt directly from the U.S. Treasury Department.

 

"#4 A recent investigation by the U.S. Senate Committee on Armed Services found more than one million counterfeit Chinese parts in the Department of Defense supply chain. How in the world could we be so stupid?

 

"#5 After being bailed out by U.S. taxpayers, General Motors is currently involved in 11 joint ventures with companies owned by the Chinese government. The price for entering into many of these "joint ventures" was a transfer of "state of the art technology" from General Motors to the communist Chinese..." 

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AWESOME NEWS!!!! – 27,000 MORE HIGHLY PAID AMERICANS TO LOSE THEIR JOBS « The Burning Platform

AWESOME NEWS!!!! – 27,000 MORE HIGHLY PAID AMERICANS TO LOSE THEIR JOBS « The Burning Platform | Gold and What Moves it. | Scoop.it

"Another example of what a warped society we’ve become. Hewlett Packard’s profit plunged by 30% and Wall Street rejoices because they “beat expectations”. Wall Street is thrilled that 27,000 Americans will be fired by this finely run company. Meanwhile, the CEO and her top minions will rake in multi-million dollar compensation packages for pleasing Wall Street while making less profit than the previous year. I have no problem with companies doing what they need to do to make a profit, but we all know how this will play out. HP will fire 27,000 highly paid professional Americans over the next two years. The company will save $1.8 billion and revenue and profits will rebound. When business picks up they will not rehire Americans. They will announce the opening of new facilities in China or Indonesia and will hire workers for a fraction of the cost in the U.S...."

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Whales in the gold market | The Daily Gold

Whales in the gold market | The Daily Gold | Gold and What Moves it. | Scoop.it

by WILL BANCROFT

 

"Last April gold investment analysts where excited to see a new institutional player enter the gold market. The University of Texas Investment Management Co. took delivery of nearly $1bn of gold bullion into a New York vault. The reason gold analysts were so interested was because large institutional players had been largely absent from their market and their huge purchasing power had therefore not had its potentially significant positive effect on thegold price.

 

"The gold purchase by America’s second largest academic endowment was noted in case it was the start of a trend. Nonetheless, continued institutional bids into the gold market did not follow in great enough numbers to identify a compelling trend. Apart from last summer’s run to over $1,900/ounce, the gold price has not hinted at notably increased institutional buying of gold. Gold investors were left waiting and wanting.

 

"However, the Financial Times reported some interesting news for those monitoring such a trend yesterday.

"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. Initially, the fund aims to keep about 1.5 per cent of its total assets of Y40bn ($500m) in bullion-backed exchange traded funds, according to chief investment officer (CIO) Yoshisuke Kiguchi, who said he was diversifying into gold to “escape sovereign risk”..."

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Greece has 46 Hours to Exit Euro

by Moses Kim:

 

"Reports are surfacing that Greece is going to exit the Euro imminently. We are now witnessing things that were deemed to be “impossible”, “politically unviable”, or slightly “conspiratorial.” As I said many times before, volatility is going to return the second half of this year. This is only the beginning.

 

"Global markets should be pretty volatile, especially with short interest so high in places like Asia. The threat here is that civil unrest spreads throughout Europe, causing a run on banks (which is already beginning), and a domino effect where more countries leave the Euro. I’ve stated many times that the Euro is a fundamentally flawed currency that was not well-conceived from the start. Now we are seeing the unraveling..."

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Caesar Bryan - Global Investors Are Frightened At This Point

Caesar Bryan - Global Investors Are Frightened At This Point | Gold and What Moves it. | Scoop.it

With investors wondering where global markets are headed next, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that yesterday the “german bund yield fell below 2% for the first time ever.” Caesar also said this “reveals just how frightened people are at this point in time.” But first, here is what Caesar had to say about the battle taking place in key markets: “I think there’s a little bit of a battle going on. There’s clearly a lot of fear in capital markets around the world and that’s usually represented by a rush to short-term government bonds, in particular US dollar government bonds. With this type of fear and the need for liquidity, just about all assets get sold and gold is one of those assets.”

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