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from Gold Silver Worlds: This is a quick update on the physical demand frenzy in the East. According to Mineweb gold imports to India ”jumped by 138% in April to $7.5 billion, massively pushing up the trade deficit. In April 2012, gold and silver imports stood at $3.1 billion.” That has accelerated the worries of the Indian government who has been fighting the current account deficit (which is the difference between inflows and outflows of foreign currency) caused by surging [...] By Andy Xie BEIJING (Caixin Online) — The global economy has already entered into stagflation with a growth rate of 2% and inflation at 3%. The inflation rate is likely to rise above 4% in 18 months while the growth rate will remain stuck in the same range. With inflation twice as high as the growth rate, the global economy will slip deeper into stagflation. The recent decline in [...] by Ambrose Evans-Pritchard, The Telegraph: The World Gold Council has advised Italy to deploy its 2,000 tonnes of gold to break free of EMU austerity dictates. By using the reserves – the world’s fourth largest – to collateralise the first chunk of any losses for bondholders, Italy could raise €400bn or so on the capital markets and determine its own future for a while. Italy did this in 1974 when it borrowed $2bn from [...] An American futures exchange without even an ounce of physical for one of their own? ~1 week at most until the crash: “Signs of extreme physical tightness in the gold and silver markets continue to intensify, with reports of banks and firms refusing their customers physical delivery of their own bullion increasing nearly by the hour. London Gold Market Report from Ben Traynor, BullionVault Friday 19 April 2013, 08:00 EST
Investors “Could Sell into Strength” as Gold Climbs Back Above $1400
WHOLESALE gold prices rallied above $1400 an ounce Friday morning, with analysts continuing to point to strong demand for physical bullion following gold’s sharpest weekly price fall in over four years.
“Expect the market to sell into strength,” warns bullion bank Scotia Mocatta, whose technical analysts see support for gold at $1309 [...] Gold slump has wiped $560 billion from the value of central bank reserves after its price dropped 13% in the last two days. Global investors are switching to equities in a bid to generate income. Central banks own 19% of all gold mined (some 31,694.8 metric tons) and are among the major losers from the asset price slump, according the World Gold Council in London. Global investors have sold gold to [...] 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 [...] The headline downplays the money amount. Read the article and do the second grade math that the author couldn’t. Gold has been on a definite downtrend since last October, with bullion falling a dramatic 5.1% in February alone. As prices have dropped and investors lost faith, central banks have been on the opposite side of the trade, gobbling up bullion at a rate of 27-metric tons a month, according to UBS’ gold [...] by GoldCore
Today’s AM fix was USD 1,597.25, EUR 1,241.35 and GBP 1,052.21 per ounce. Silver is trading at $28.86/oz, €22.53/oz and £19.12/oz. Platinum is trading at $1,578.00/oz, palladium at $759.00/oz and rhodium at $1,225/oz. Gold fell $3.20 or 0.2% and closed yesterday at $1,604.40/oz. Silver finished +0.41% at $28.81. Cross Currency Table – (Bloomberg) Gold is slightly lower in most major currencies [...] Obama Began Currency Wars in 2010 – Jm Rickards
Rickards say’s The the U.K. Pound Sterling will be as of now the Biggest Loser as they have no Gold to fight with….
BOC Chief Says China Should Be on ‘High Alert’ on Inflation China should be on “high alert” over inflation after February’s figures exceeded forecasts, central bank Governor Zhou Xiaochuan said, signaling a heightened focus on controlling prices. Monetary policy is “no longer relaxed” and [...] http://www.usdebtclock.org/ U.S. dollar’s share of central bank reserves falls to 54% in 2012: World Gold Council The U.S. dollar’s share of total reserves fell from 62% in 2000 to 54% in 2012, according [...] Everyone keeps buying record amounts and the price keeps going down. Something is afoot ! South Korea joined Russia and Kazakhstan in boosting gold holdings, even as the metal had its worst start to a year since 1991 and billionaire investor George Soros cut his stake in the biggest bullion exchange-traded fund. The Bank of Korea added 20 metric tons in February, raising its gold reserves by 24 percent to 104.4 tons, [...]
The World Gold Council has released its latest list of the world’s biggest gold holders. But which countries bought the most in the past decade? from Gold Silver Worlds: The latest World Gold Council report details the global gold reserves at the end of 2012, as held by central banks. In this article, we show the latest figures in the top 40 gold reserve holdings and highlight some 2012 trends. The countries that have added most actively to their gold reserves in 2012, were the developing markets. They continue to diversify their dollar and euro based holdings . Gold gives [...] Seems gold just can’t be stopped!! “The popularity of gold seems to keep building according to the World Gold Council latest release of global gold demand. From the release: 2012 sees gold demand hit record value level. Q4 2012 up 4% year-on-year as India, China and central banks drive demand In value terms, gold demand in 2012 was US$236.4bn – an all-time high. Gold demand in value terms for the final quarter of [...] In this MUST WATCH video, Jim Rickards discusses ‘currency war games’ and how the in progress currency war between the US/West and China/Russia is likely to be played out. Not surprisingly, GOLD plays a pivotal role in the currency war games. The end of the current fiat monetary system is coming, and a GOLD BACKED CURRENCY will replace the fiat petro-dollar.
BUY GOLD NOW! As the WORLDWIDE CURRENCY WAR is STARTING Japan, [...] London Gold Market Report from Ben Traynor BullionVault Friday 11 January 2013, 12:15 EST
“Campaign Against Gold Has Failed” Says Central Bank Think-Tank, Rally fades in Gold and Silver
WHOLESALE gold bullion prices dipped back below $1670 an ounce Friday morning in London, 0.9% up on where it started the week, after jumping 1% yesterday following the European Central Bank’s decision to leave interest rates on hold, which was also followed by gains for the Euro.
Silver meantime [...] by GoldCore Gold Bullion Today’s AM fix was USD 1,663.50, EUR 1,272.37 and GBP 1,035.35 per ounce. Silver is trading at $30.40/oz, €23.39/oz and £19.04/oz. Platinum is trading at $1,591.50/oz, palladium at $679.00/oz and rhodium at $1,150/oz. Gold climbed $11.80 or 0.72% in New York yesterday and closed at $1,658.20/oz. Silver surged to a high of $30.534 and finished with a [...] traderdannorcini.blogspot.ca / By Trader Dan / December 19, 2012 Reports coming out of the IMF indicate that Brazil has DOUBLED its holdings of gold since the end of August of this year. It is now officially holding 2.18 million ounces compared to 1.08 million ounces at the end of August. IMF data reveals that Brazil purchased 472,000 ounces in November. Also, the World Gold Council is reporting that it expects official sector gold [...] 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. [...] by GoldCore Gold Bullion Today’s AM fix was USD 1,723.50, EUR 1,351.45, and GBP 1,087.66 per ounce. Silver is trading at $32.53/oz, €25.60/oz and £20.52/oz. Platinum is trading at $1,573.50/oz, palladium at $627.75/oz and rhodium at $1,100/oz. Gold was relatively unchanged up $0.50 or 0.03% in New York yesterday and closed at $1,725.00. Silver fell to a low of $32.36 and [...] |
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