What Bloomberg would never dream of saying, even though it screams out from this story, is that the gold ETF market is a paper market, in which “ETPs trade on exchanges with each share representing metal held in a vault” is actually untrue, (it’s a scam based on the same principle as fractional reserve banking) and will cause a market meltdown if everyone wants to take [...]
By Nicholas Larkin and Pham-Duy Nguyen
May 16 (Bloomberg) — Sales of gold coins are on track for the best month in a year amid the worst commodities rout since 2008, a sign that bullion’s longest bull market in nine decades has further to run, if history is a guide.
The U.S. Mint sold 85,000 ounces of American Eagle coins since May 1 as theStandard & Poor’s GSCI Index [...]
Gold, Gresham’s Law and the Dong
28 April 2011, by Ben Traynor (Safe Haven)
But you can hardly blame the Vietnamese people for buying and hoarding gold. Not when the official base interest rate is 9%…high by the near-zero standards of the West, but even worse when you remember that Viet inflation is running at 17.5%.
That means a real rate of return on Dongs [...]
By Pham-Duy Nguyen and Yi Tian
Jan. 31 (Bloomberg) — The â€œcapitulationâ€ in gold that drove the metal to its worst January in 14 years may be ending as escalating violence in northern Africa spurs demand for a haven and after a key technical indicator held.
Futures traded on the Comex exchange in New York jumped 1.7 percent on Jan. 28, the most since Nov. 4, as thousands [...]
By Pham-Duy Nguyen
Silver prices may retreat as much as 20 percent this year as soaring demand for physical metal signals a â€œcrowdedâ€ trade, said Barry James, the chief executive officer of James Investment Research Inc.
Sales of 1-ounce American Eagle silver coins have totaled 4,588,000 in January, heading for a record, according to data from the U.S. Mint. Silver futures in New York rallied 84 percent last year, climbing to a [...]