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“Panic Buying” In Gold: Just Four Days Into 2013, A New Gold Milestone Has Already Been Passed


 

The Other “Mint” Campaign Starts Off With A Bang: US Mint Sells 50,000 Ounces Of Gold On First Day Of Year

 

zerohedge.com

And we’re off to the races. Despite, or maybe thanks to, the relentless collapse in paper gold prices, US retail continues to ignore the day to day fluctuations in the stated value of the shiny metal (most of it driven by the BIS’ Benoit Gilson), and instead has learned to take advantage of every drop to BTFD. As the US mint website reports, the very first day of 2013 saw a whopping 50,000 gold ounce sales, and another 7,000 on the second, which is nearly the entire amount sold by the mint in December, and just shy of half in all of January 2012….

 

 

US MINT SELLS 57,000 OUNCES OF GOLD FIRST 2 DAYS OF 2013!

 

silverdoctors.com

The US Mint has updated their gold eagle sales totals, and the Mint has reportedly sold an astonishing 57,000 ounces of gold in the first 2 business days of January- nearly half the total of all of January 2012!

2013 Gold Sales Totals
(in ounces / number of coins)
Month One
( oz. / #coins )
Half
( oz. / #coins )
Quarter
( oz. / #coins )
Tenth
( oz. / #coins )
Total
( oz. / #coins )
January 44,500
44,500
4,500
9,000
3,000
12,000
5,000
50,000
57,000
115,500
Total 44,500
44,500
4,500
9,000
3,000
12,000
5,000
50,000
57,000
115,500

….

 

Dave Morgan – 2013 Outlook- Will Fed QE3 and QE4 Cause 2013 Price Explosion?

 

 

Bud Conrad – Future Inflation Baked In the Cake – Hyperinflation Possible – Casey Research

Bud sees the US passing the “tipping point” with US debt levels moving from 100% of GDP to 120% of GDP in President Obama’s second term. Bud believes that future inflation is now “baked in the cake” and this could possibly lead to hyperinflation.

from FinancialSurvivalNetwork.com:

Jeffrey Christian of CPM Group joined us for his take on the Fiscal Cliff and his predictions for the year ahead. As he said, “It’s much easier to predict history.” Unfortunately, it’s very hard to make money off of what happened in the past. The key to profits or to protecting your wealth is getting a glimpse of what the futre holds. Unfortunately this is extremely difficult, especially in the current economic environment. No one really knows what will happen or when. However, when we see our leaders fail to protect the country and it’s future, you need to prepare for the worst. Jeff thinks gold prices will range between $1500 to $1800. We believe these estimates are extremely conservative. Time will tell.

CLICK HERE FOR AUDIO INTERVIEW

 

goldsilverworlds.com

This article is based on the Outlook Report from Global Gold in Switzerland, written by managing director Claudio Grass. It provides a fundamental view on gold, not a short term price forecast. It is widely known that short term prices are suppressed on a regular basis in a counterintuitive way, just like today (January 4th).

We don’t claim to have a crystal ball. In this article we bring our view on the expected direction of the political and economic developments. We use our common sense, and we refrain from using complicated models which no one understands. For each scenario, we indicate how likely it is to happen and what the impact would be on the gold price.

Scenario 1: Status quo

Under our “status quo” scenario, governments will continue essentially as they have so far, delaying any real problem solving. They will continue to  “moderately” inflate currencies, bailout banks etc. Furthermore real economic growth rates will stay low.

Probability (estimate): 80%. We think that this scenario is the most likely for the coming months and years. Governments can’t and won’t tackle any real problems; they will follow their “muddle through” policy as they have done so far.

Impact on gold: As in recent years the current policies of governments positively impact gold prices.

Britain’s recent food price rises are “just the tip of the iceberg,” and consumers should brace themselves for “massive” hikes in some commodities this year, the managing director of Waitrose has warned.

from The Telegraph:

Mark Price said food price inflation would rise further as the heavy rainfall last year meant that many farmers did not plant crops for 2013.

Mr Price told the Sun: “We’re seeing input food inflation of around 3 to 3.5pc, but we expect it go up to as much as five.

“In some commodities, the increases will be massive,” he added.

“It’s bread, vegetables, all produce. The apple crop was down 20 to 30 per cent so apple prices have to go up. You have only seen the tip of the iceberg,” said Mr Price.

Read More @ Telegraph.co.uk

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