It appears to me that JPMorgan and their ilk have bought absolutely massive quantities of gold and silver in many different markets. Unfortunately, much of that buying has come as a result of the deliberate and successful manipulation of price in order to force others to sell. I don’t believe that is fair or even legal. Nevertheless the bloodless verdict of the market suggests we are going a lot higher [...]
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Apple is down 2%. The big gold ETF, GLD, is down 1.4%. These moves are happening on a day when the market is basically flat. It’s not an accident that they’re diving together. The reason is: During the immediate post-crisis era, gold and Apple were huge outperformers, that were uncorrelated to the day-to-day “risk on, risk off” regime that was dominating financial markets. Remember, investors are desperate to find uncorrelated assets that don’t just [...] London Gold Market Report from Ben Traynor, BullionVault Friday 10 May 2013, 07:30 EDT
Gold “Could Retest $1322 Low”, G7 Meeting “A Chance to Consider More Monetary Activism”
SPOT MARKET gold bullion prices fell to two-week lows Friday, drifting lower towards $1440 an ounce during this morning’s London session before dropping sharply through that level, as stocks gained and most commodities fell as the Dollar strengthened against major currencies.
Silver fell to $23.34 an ounce, while copper [...] I get a call from a close friend in NYC last Friday. His career has been in private wealth management in the private bank department of the Too Big To Fail banks. He’s been looking for work and chats with old colleagues all the time. He called my Friday and told me he just got off the phone with a very high level private banker from a big Euro-based TBTF [...] London Gold Market Report from Ben Traynor, BullionVault Monday 29 April 2013, 07:45 EST
Gold “Getting Key Support” from Retail Demand, But Investor Confidence “Has Been Dealt Severe Blow”
GOLD started the week by edging higher Monday, trading around $1475 per ounce by lunchtime in London, as stocks also gained, US Treasuries were broadly flat and the Euro edged higher against the Dollar following news that Italy’s borrowing costs have fallen.
Strong demand for physical gold from [...] From Humble Student of the Markets: In a recent post, I suggested that a tradable bottom for gold may be near, but to wait for some signs of price stabilization: Personally, I would be inclined to step aside for now and watch how this trade develops. Gold could have great upside potential once it bottoms, but prudence calls for waiting for some signs of stabilization before getting long. I would rather miss [...] London Gold Market Report from Ben Traynor, BullionVault Monday 15 April 2013, 06:00 EST
Gold’s Demise “Still in Early Stages” as Price Drops Below $1400
SPOT MARKET gold prices fell to a two-year low below $1400 an ounce Monday morning, extending Friday’s drop that took gold into bear market territory under the definition of a 20% fall from its peak.
Silver fell as low as $23.11 an ounce, its lowest level since October 2010, as stocks [...] London Gold Market Report from Ben Traynor, BullionVault Wednesday 10 April 2013, 07:30 EST
Sentiment “Less Bullish” Towards Gold as Goldman Sachs Says “Go Short Gold”
AFTER touching a one-week high yesterday, gold drifted lower Wednesday, ending London’s morning trading around $1580 an ounce, more-or-less where it started the week, while stocks gained and government bond prices fell.
Gold in Sterling was also trading in line with last week’s close at around £1032 an ounce, while [...] London Gold Market Report from Ben Traynor BullionVault Friday 22 March 2013, 08:30 EST
Gold “Needs to Break Above $1620 for Momentum”, European Leaders “Bullying” Cyprus
U.S. DOLLAR gold prices continued to hover around $1610 per ounce Friday morning, dipping back below that level after making gains in Asian trading, while stocks and commodities were flat on the day ahead of a vote by Cyprus’s parliament on measures aimed at raising money and securing a bailout.
“[Gold's] [...] by GoldCore Today’s AM fix was USD 1,629.25, EUR 1,221.42 and GBP 1,052.01 per ounce. Silver is trading at $30.26/oz, €22.80/oz and £19.61/oz. Platinum is trading at $1,692.50/oz, palladium at $759.00/oz and rhodium at $1,225/oz. Gold in USD (1 Year) Gold dropped $7.40 or 0.45% yesterday and closed at $1,635.60/oz. Silver finished with a loss of 1.04% at $30.45/oz. Gold’s decline was [...] London Gold Market Report from Ben Traynor BullionVault Wednesday 5 September 2012, 07:00 EDT
Gold “Has Seen the Lows for the Year”, ECB Action Could Be “Supportive” for Gold
SPOT MARKET gold prices fell briefly below $1690 an ounce Wednesday morning in London trading, remaining close to six-month highs, while stocks and commodities were also broadly flat, ahead of tomorrow’s policy announcement from the European Central Bank.
Silver prices dipped below $32 per ounce before recovering, ending the [...] From Hard Assets Investor: You’d think a couple of billionaires could choose the right gold exchange-traded fund (ETF). It seems like every quarter when hedge fund 13F filings are released, we get stories about how John Paulson or George Soros upped their stake in GLD. The question I wonder about is, Why? I’m in no position to question the logic behind Paulson’s, Soros’ or even the Teacher Retirement System of Texas’ investments in gold. [...] From The Stock Sage: The tension is building, can you feel it? Spanish bond yields are soaring to euro area all-time highs and CDS on Spanish debt is blowing out… Sentiment is pervasively bearish and the guy who hasn’t been able to do much of anything right during the last two years says there is a 50% chance that the euro will unravel over the next two years: “John Paulson Said to See [...] Jewelery demand fell 19 percent and investment demand fell 46 percent, as gold demand in India dropped a total of 29 percent, or 207.6 tonnes (t).
The drop in demand in India was to be expected, as India rolled out two tax increases on gold. The second hike revealed in the country’s budget has since been withdrawn. Gold demand in India was affected in Q1 2012 by a number of factors; a new tax on gold jewelery, [...] Reiterating his earlier year call to dollar-cost-average into long Gold via GLD and short Euro (FXE) , Charles Biderman of TrimTabs suggests that while the sell-off in stocks may have begun, he does not expect it to pick up steam until after April. His thesis for being long Gold remains the same, the US, Europe, and Japan continue to create ever-increasing amounts of paper-money with which they pay bills – [...] by smartknowledgeu There are a nine prevalent myths and false arguments that bankers and their puppet commercial investment firms have used to precent people from buying physical gold and physical silver over the years (remember the paper GLD and the paper SLV are NOT proxies for physical gold and physical silver and from the information in the prospectuses, very likely nowhere near 100% backed by physical gold and physical silver as they claim). To [...] Although Gold prices are off their highs of 2011, they still remain at a reasonably high level. From the chart below, we can see that Gold and Silver are highly correlated: Despite the fact that Gold prices remain high and the fact that the stock markets are near their highs would make one assume that Gold Stocks did well too, right? Wrong! When we measure Gold Stocks (we take GDX as a proxy [...] by smartknowledgeu There are a nine prevalent myths and false arguments that bankers and their puppet commercial investment firms have used to keep people from buying physical gold and physical silver over the years (remember the paper GLD and the paper SLV is NOT a proxy for physical gold and physical silver and from the information in the prospectuses, very likely nowhere near 100% backed by physical gold and physical silver as they claim). [...] From Pragmatic Capitalism: On February 29, 2012, gold futures prices had a big one-day selloff, dropping by more than $100 an oz at one point intraday. Normally, a big drop in gold prices will send gold ETF investors heading for the sidelines, but there was nary a reaction to that big drop. In fact, total assets in GLD and IAU, the two biggest gold bullion ETFs, actually rose slightly that day, and [...] 1. what will peak oil have on the value of gold/silver I beleive Peak Oil will be nuetral to PM’s, meaning that Peaking and slowly diminishing production will not add a premium to Gold. It may have an indirect effect though. I belive Gold will continue to move inversely to the dollar, and peak oil could certainly affect the dollar. Which direction depends on how far the FED is willing to [...] If you don’t hold your PMs in your hot little hands you got nothing but empty paper promises which will be reneged upon. Read the fine print of their prospectus… you fucking fool. Have you learned nothing in the past few months? http://goldprice.org/james-turk/2009/03/gld.html GLD is a risky PONZI because its prospectus says that gold reportedly owned by the fund but stored in subcustodians and sub-subcustodians is not audited and cannot even be inspected to ensure that it really exists. Nor is [...] I guess a lot of people wet their pants last night, as gold was down over 4% at some point. The chart incurred technical damage over the short term, and if current support fails to hold, gold could be headed for about $1,440 (or the equivalent of $140 GLD), as we will discuss later on. Let’s first have a look at an article I wrote in August 2011 when I wrote: [...] Written by Jeff Nielson The SPDR Gold Trust, more commonly known by its NYSE ticker symbol “GLD”, represents a triumph of “bankster engineering” in the gold market. While it is supposedly a convenient way for small investors to hold “gold”, what it is actually is an extremely convenient tool for the banksters to dilute the investor dollars flowing into the bullion market, and thus delay the rise in the price of gold. It [...] Bob Pisani from CNBC takes a tour of the SPDR Gold Trust Vault in London but forgets to tell you what the prospectus really says. After reading the prospectus, GLD seems to be littered with clauses that screw the holder of GLD. Gold is in a bull market but central bankers do not want the public to buy physical gold and silver to hedge against inflation and deflation or [...] kingworldnews.com With gold and silver taking off to the upside in a big way, today King World News interviewed KWN Resident Expert Jim Rickards, Senior Managing Director at Tangent Capital Markets, to get his take his take on the surge in the metals. When asked about the explosive action in gold Rickards replied, “It’s going to continue, Eric. We had our $120 smash down last week, so [...] |
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