from Gold Money:
A few months ago the German Bundesbank displayed concern about the security of their gold being stored at the New York Federal Reserve. They called for an audit of their holdings, and while that still has not taken place, the intermediate resolution was to have 10% of their gold repatriated over a period of seven years.
There has been no explanation of why it takes seven years to get such [...]
The US Fed Still has not Disclosed What They’ve Done with Germany’s Gold Reserves! Enough to make a prudent man wonder how many other foreign central banks may have had their custodial gold ‘misplaced’ by the Fed, eh?
Are you beginning to understand why the US Fed is terrified of an independent congressional audit? Grabbing ETF and COMEX gold is just a ‘walk in the park’.
The big banks are breathlessly proclaiming that now is the time to sell your gold. They are warning that we have now entered a “bear market” for gold and that the price of gold will continue to decline for the rest of the year. So should we believe them? Well, their warnings might be more credible if the central banks of the world were not hoarding gold like crazy. During [...]
by Phoenix Capital Research
Anyone who wants to get to the truth behind the inflationary threats to their wealth should ignore everything the Central Banks say about inflation and look instead at their actions.
Worldwide gold demand in 2012 was another record high of $236.4 billion in the World Gold Council’s latest report. This was up 6% in value terms in the fourth quarter to $66.2 billion, the highest fourth quarter on [...]
Nouriel Roubini: Preparing for a Perfect Storm
Stagnation in the developed world, uncertainty in China, and political instability in the Middle East could make for a rough 2013….
With growth anemic in most advanced economies, the rally in risky assets that began in the second half of 2012 has not been driven by improved fundamentals, but rather by fresh rounds of unconventional monetary policy. Most major advanced economies’ central banks—the European Central [...]
Forget Germany, Check Out Turkey’s Central-Bank Gold
by Adrian Ash
Wednesday, 23 January 2012
Now here’s a central bank really putting gold to good use…
AMID the brouhaha over Germany’s gold reserves at the Bundesbank, there’s another central bank using gold actively to bolster its currency and financial stability.
The strategy looks the same – sitting on big stockpiles of the stuff. But the aim differs, because gold is much closer to the everyday financial [...]
In an uncertain global economic environment, central banks have been purchasing gold.
Some have argued that euro zone members should use gold as collateral for sovereign debt issuance to keep bond yields low.
The World Gold Council estimates that central banks will have purchased 500 tons of gold in 2012, up from 465 tons last year. And gold prices have also been supported by central bank gold purchases.
Global gold reserves total 31,491 tons as of December 2012. [...]
Today King World News wanted to discuss what has been termed as the ‘Holy Grail’ of evidence which implicates Western central banks in actively manipulating the gold market. This has Western central banks deeply troubled because the information was never supposed to become public. Chris Powell, who has been focused on uncovering this type of sensitive information for 15 years, told KWN, “This is as authoritative (an admission) as [...]
Today’s AM fix was USD 1,741.00, EUR 1,347.00, and GBP 1,087.38 per ounce.
Yesterday’s AM fix was USD 1,747.25, EUR 1,349.54, and GBP 1,090.46 per ounce.
Silver is trading at $33.80/oz, €26.32/oz and £21.23/oz. Platinum is trading at $1,605.00/oz, palladium at $652.25/oz and rhodium at $1,065/oz.
Cross Currency Table – (Bloomberg)
Gold and silver appear to be consolidating after their recent gains. Gold fell $7.10 or 0.41% in New York yesterday and closed [...]
ETF Daily News
November 3, 2012
Charles Goyette: On learning that French gold was being held by the U.S. Federal Reserve, French President Charles de Gaulle is reported to have said, “I could hardly sleep easily with such an arrangement.” So in 1965 he ordered French navy ships to cross the Atlantic to pick up $150 million in gold held in the Fed’s New York vaults and deliver it to the Banque [...]
London Gold Market Report
from Adrian Ash
Thurs 1 Nov, 09:00 EST
Gold & Silver Rise as China’s Long-Term Demand Forecast to Keep Growing
WHOLESALE PRICES to buy gold rose to 7-session highs in London on Thursday morning, touching $1726 per ounce even as new data showed US employment rising at its fastest pace since February.
The private-sector ADP payrolls report said the US added 158,000 jobs in October. Earlier data from the manufacturing sector [...]
JIM WILLIE: CENTRAL BANK GOLD REHYPOTHECATION SCANDAL TO TAKE GOLD TO $5,000/OZ
By Jim Willie, GoldenJackass.com
-The battle is on for delivery and verification for official gold accounts
-Evidence grows that much of it is gone, and when demanded, replaced with urgency
-It is soon to transform into a global gold war
-The German Govt gold demand to the London and NY City bankers represents a big escalation in the gold war
-The central bank coordinated QE to Infinity has [...]
The Doc welcomed back Cheviot Asset Management’s Ned Naylor-Leyland for an exclusive interview Sunday regarding the German gold repatriation, and how it will affect the physical gold market going forward.
In this MUST READ interview, Naylor-Leyland stated that when you take into account the fractional reserve accounting by the bullion banks, the 50 ton annual gold repatriation number is much larger in terms of the impact on the underlying market.
Naylor-Leyland believes Germany and the other central banks [...]
In perhaps the biggest story in gold since Hugo Chavez sent shockwaves throughout the gold market in mid 2011 (and propelled gold up $300 to a record $1915), the German Constitutional Court has ruled that the Bundesbank must conduct an audit on German Central Bank gold holdings, and in anticipation, has begun the repatriation of German gold from the NY Fed. The Bundesbank will request the NY Fed ship 50 tones of [...]
Gold prices have been supported by central bank gold purchases.
According to the World Gold Council (WGC), global central banks bought 157.5 tonnes of gold in the second quarter, up 63 percent quarter-over-quarter and up 137.9 percent year-over-year.
In fact, there is a school of thought that suggests euro zone members use gold as collateral for sovereign debt issuance to keep bond yields.
We put together a list of the countries with the biggest official gold [...]
Do Experts Agree?
Deutsche Bank analysts Daniel Brebner and Xiao Fu have just released a new report saying that gold is money (via Business Insider):
While it is included in the commodities basket it is in fact a medium of exchange and one that is officially recognised (if not publically used as such). We see gold as an officially recognised form of money for one primary reason: it is widely held by most of the world’s larger [...]
Total central bank gold purchases in the second quarter were more than double the level reported just one year earlier, as emerging market governments sought to diversify away from traditional reserve currencies amid heightened economic insecurity, according to World Gold Council data Thursday.
Read more: http://www.foxbusiness.com/news/2012/08/16/world-gold-council-central-bank-gold-demand-doubles-in-second-quarter/#ixzz23iDfSFMg
Gold’s Rally Short Term? Long Term Outlook Bullish
Today’s AM fix was USD 1,603.00, EUR 1,321.74, and GBP 1,034.26 per ounce.
Yesterday’s AM fix was USD 1,587.50, EUR 1,309.39 and GBP 1,024.86 per ounce.
Gold climbed $22.20 or 1.04% in New York yesterday and closed at $1,604.50/oz. The silver price hit a high of $27.559 and finished the day with a gain of 1.3%.
Gold was trading sideways in Asia with a slight [...]
The World Gold Council recently released its own report for the gold market for 2011. It noted that while global demand for gold had hit a new all-time high in (nominal) dollar terms , it was merely reaching its highest level in 15 years in terms of tonnages.Hardly the signs of an “over-heated” market, as is regularly claimed by the flock of mainstream Chicken Littles clucking about a “bubble” in the gold market.
Indeed, investment [...]
Today’s AM fix was USD 1,571.50, EUR 1,251.79, and GBP 1,005.70 per ounce.
Yesterday’s AM fix was USD 1,600.00, EUR 1,261.43, and GBP 1,017.17 per ounce.
Silver is trading at $26.95/oz, €21.57/oz and £17.36/oz. Platinum is trading at $1,438.50/oz, palladium at $603.60/oz and rhodium at $1,215/oz.
Gold fell $40.10 or 2.5% yesterday in New York and closed at $1,566.30/oz. Gold traded sideways in Asian trading prior to a very slight bounce in [...]
Today’s AM fix was USD 1,620.75, EUR 1,288.66, and GBP 1,046.25 per ounce.
Yesterday’s AM fix was USD 1,633.25, EUR 1,305.45, and GBP 1,057.33 per ounce.
Silver is trading at $29.51/oz, €23.55/oz and £19.04/oz. Platinum is trading at $1,470.00/oz, palladium at $626.00/oz and rhodium at $1,200/oz.
Gold rose 1% yesterday prior to giving up those gains and rising just $1.20 in New York and closed at $1,619.60/oz. Gold has been trading sideways [...]
With gold coming off the lows of an earlier plunge, today King World News interviewed Dan Norcini. Norcini told KWN the bounce occurred today because of “central bank buying.” Norcini also said, “Hedge funds are battling the Eastern Central banks which are the physical buyers.” He also sent over an extremely important chart which correlated gold in December 2008 vs today. But first, here is what Norcini had to say about the [...]
After yesterday’s report on the latest Central Bank gold purchases, Jeffrey Nichols analyses the impact of such buying on the global gold market and its underpinning of the gold price
Author: Jeffrey Nichols
Posted: Wednesday , 25 Apr 2012
NEW YORK -
A recent survey of central-bank reserve managers predicted that the most significant change in their official reserve holdings over the next 10 years will be their intentional accumulation of gold.
In fact, central-bank reserve managers [...]
“LONDON (Dow Jones)–Net central bank gold purchases ballooned to around 430 metric tons in 2011, a more than five-fold increase on the previous year and the highest level recorded since 1964, metals consultancy GFMS said Tuesday.”
That’s nearly 14 million ounces of gold BTW.”