Gold and Silver Market News and Reviews
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By: Stefan Gleason, MoneyMetalsExchange.com (March 5th, 2015)
The first two months of 2015 have seen turmoil in the currency markets extend from Russia and Ukraine to the heart of Europe.
“Central Banks Now Open 24/7 Fighting Currency Wars and Deflation,” blared a February 12th Bloomberg headline. Against this backdrop, precious metals have been on the rise in terms of all currencies except the Swiss franc and the U.S dollar.
In January, the Swiss National Bank shocked markets by announcing that it would de-link its currency from the euro. The move came one week ahead of the European Central Bank’s $1.1 trillion Quantitative Easing announcement. Swiss officials decided it would be too costly to keep accumulating depreciating euros in order to maintain the currency peg. The Swiss franc surged by the most ever in a single day.
With the exception of Switzerland, all other countries in Europe (and many others around the world) are trying to depreciate their currencies.
By: Bill Holter, MilesFranklin.com (March 5th, 2015)
While doing an interview a few months back with Turd Ferguson at www.tfmetalsreport.com , he made the comment “gold has never been more valuable than it is today”. This is so true and correct, I’d like to break it down into small pieces because from a historical standpoint there is no comparison to where we are today.
OK, I guess it would be best to first clear the air and address those who will say Turd’s statement is wrong because they paid $1,700 for their gold and are sitting on “losses”. Yes, from the standpoint of what gold will “fetch”, gold is “down”. Were you to sell it today or barter for a piece of real estate, it will take more ounces today than it would have two or three years ago. I get it and am not a stu-nod.
By: Peter Byrne, The Gold Report (March 5th, 2015)
The world needs gold, says AlphaStox's Etienne Moshevich, and while it has been out of favor for the last few years, a series of macro factors point to its uptrend. In this interview with The Gold Report, Moshevich discusses 11 gold, manganese and graphite companies with management teams that have the skills to ride the wave to create shareholder value.
By: Elijah Johnson, FinanceAndLiberty.com (March 4th, 2015)
IN THIS INTERVIEW:
- Industrialized nations become third world
- U.S. Treasury bond market is dying
- Big Western banks being rated near junk status
- Collapse of the European Union
By: David Levenstein, LakeshoreTrading.co.za (March 4th, 2015)
Gold prices pared earlier gains on Monday after hitting the highest in almost two weeks as gains for equities cut demand for haven assets.
In a surprise move, the People’s Bank of China (PBoC) lowered the benchmark one-year loan rate by 0.25% to 5.35%. The one-year deposit rate was also cut by 0.25% to 2.50%. A central bank official noted that the two main reasons for the cut are deflationary risks and slowdown in property markets. The cut was also a follow up to last November’s rate cut, which was first in two years, and measures of lowering the bank reserve ratio.
By: Greg Hunter, USAWatchdog.com (March 4th, 2015)
Rob Kirby of KirbyAnalytics.com thinks all the current world problems come down to just one thing. Kirby says, “It all boils back to the money. And it all boils back to the notion we don’t have honest money because when you have honest money, these excesses don’t occur. Things cleanse themselves, and that is the virtue and the merit of the old relic, the gold standard, because it is honest commerce. When you have honest commerce, generally people are peaceful and get along with each other on a fair basis. Equal value for equal value for exchange of goods, not one country with the God given right to print money to buy the world’s output with freshly created out of thin air fiat money. It’s dishonest commerce. Dishonest commerce is at the root of all the problems we are facing in the world.”
By: Przemyslaw Radomski, SunshineProfits.com (March 4th, 2015)
Briefly: In our opinion speculative short positions (full) in gold, silver and mining stocks are justified from the risk/reward perspective. We are keeping the stop-loss levels at their current levels, which means that we are effectively keeping some gains locked and at the same time we're allowing the profits to increase.
By: Gary Christenson, DeviantInvestor.com (March 3rd, 2015)
One interpretation is that we are living in the best of all possible worlds. Another is that we are being led to financial slaughter.
By: Steve St. Angelo, SRSroccoReport.com (March 3rd, 2015)
Mexico is the largest silver producer in the world. The only two countries that come remotely close to Mexico’s number one ranking are Peru and China. However, these countries trail Mexico by more than 50 million ounces.
According to the INEGI, Mexico produced a record 186 million ounces (Moz) of silver in 2013, but this declined to 184 Moz in 2014. On the other hand, Peru’s silver production increased from 118 Moz in 2013 to 121 Moz in 2014. If we combine the total of these top two producers, total production only increased slightly from 304 Moz in 2013 to 305.6 Moz in 2014.
By: James Rickards, DailyReckoning.com (March 3rd, 2015)
A lot of people think about gold as a percentage of a country’s total reserves. They are surprised to learn that the United States has 70 percent of its reserves in gold. Meanwhile, China only has about 1 percent of its reserves in gold. People look at that and think that’s an imbalance. But those are not very meaningful figures in my view.
The reason is that a country’s reserves are a mixture of gold and hard currencies, and the currencies can be in bonds or other assets. The United States doesn’t need other currencies. We print dollars, so why would we hold euros and yen?
By: Greg Hunter, USAWatchdog.com (March 3rd, 2015)
Gregory Mannarino of TraderChoice.net contends, “We are staring down the barrel of the worst financial cataclysm that has ever been seen, witnessed or even heard of in human history. There is no way out of this. As hard as I think about this, I cannot envision a scenario that there is no way this will not turn into a financial disaster of epic proportions for every human being on this earth.”
For the people that say the economy looks good to them, Mannarino says, “This is the calm before the storm. The Federal Reserve has flooded the system to the point of ridiculousness. They re-inflated an equity market bubble. They are trying as hard as they can to re-inflate a credit bubble. So, people are living on nothing but borrowed time.”
By: FutureMoneyTrends.com (March 2nd, 2015)
With currencies being rapidly devalued by their respective governments, the global economy in a slow-down, and tensions over resources heating up around the world, it’s time to start considering the endgame.
According to billionaire resource investor Carlo Civelli there is likely no way out for central banks which have spent the last several years printing money hand over fist. Over his decades’ long career Civelli has either managed or financed over 20 companies, many of which now have market capitalizations in the billions of dollars, so he knows a thing or two about investing during boom times, as well as busts.
By: Jeff Clark, CaseyResearch.com (March 2nd, 2015)
In the January BIG GOLD, I interviewed a plethora of experts on their views about gold for this year. The issue was so popular that we decided to republish a portion of the edition here.
Given their level of success, these fund managers are worth listening to: James Rickards, Chris Martenson, Steve Henningsen, Grant Williams, and Brent Johnson. Some questions are the same, while others were tailored to their particular expertise.
I hope you find their comments as insightful and useful as I did…
By: Lawrence Williams, MineWeb.com (March 2nd, 2015)
My attention has just been drawn to a note put out by a very well respected analyst and China follower which postulates that China could actually be holding as much as 30,000 tonnes of gold in various government accounts and that within the next three years the nation will link the yuan to gold. The nation’s official holding is only 1,054.6 tonnes as reported to the IMF, but there is widespread belief that it has been accumulating additional gold over the past several years, perhaps to the tune of around 5,000 tonnes while holding this in separate non-reportable (as China considers them) accounts. But, of course, this does not include previously high volumes of gold which may also have been bought, and stored, in the past, and again never reported as official holdings.
By: SGTReport.com (March 2nd, 2015)
What do Switzerland, England, Austria, Netherlands, France, Belgium, Mexico, Poland, Italy. Australia, Ecuador, Romania and the tiny country of Azerbaijan have in common? They all want to know where their gold is, and they all have burgeoning gold repatriation movements in various stages of progress. Peter Boehringer, the father of the gold repatriation movement in Germany, and founder of the website Goldseiten.de joins us to discuss the great global awakening as nations begin asking, where is our PHYSICAL gold? We want it back!
By: Michael Noonan, EdgeTraderPlus.com (March 1st, 2015)
From a perspective of logic, the world makes less and less sense as the elites relentlessly, and successfully pursue their one world government. There has been an increased awareness of the Rothschilds, elites, bankers, those who control all money, all Western governments, and we are not so sure about the rest of the world. Unfortunately, the greater awareness has done nothing to alter the inevitable course of dominance of the masses by the few. The New World Order [NWO] remains on schedule, based on results.
It seems those who think they know something about the NWO takeover, which is often very little, are of the mistaken belief that change will come about externally, from some outside force that may alter the NWO path to world [debt]enslavement. The hope is that China, with all of its gold, Putin/Russia, with all of its gold and huge natural resources, along with the remaining BRICS nations will put an end to the elite’s fiat control over everything and everyone. It ain’t going to happen.
By: Jeff Nielson, BullionBullsCanada.com (March 1st, 2015)
For many years; one of the standard lines of the Corporate media in its anti-precious metals propaganda was that “gold generates no income” (i.e. interest payments) in comparison to the dubious paper currencies of our “fiat currency” monetary system. Of course that feeble argument ignored the fact that (in the real world) our paper currencies were losing value at the rate of roughly 10% per year (the real rate of inflation), meaning that real interest rates on all Western paper were already deeply negative.
Then the corrupt central banks – led by the Federal Reserve -- took nominal interest rates to zero. The Big Banks were (and are) allowed to “borrow” trillions in dollars/euros/pounds at 0% (prima facie fraudulent transactions), while savings rates went to near-zero. This meant that for the people; real interest rates across the West roughly equaled the full rate of inflation (i.e. -10% per year), meaning that the Big Banks were already confiscating our (paper) wealth at the rate of roughly 10% per year.
By: SRSroccoReport.com (February 27th, 2015)
The U.S. economy has gotten considerably weaker since the investment banking collapse in 2008. Nothing has improved, except the fundamentals for owning gold and silver. However, there are many conspiracies that confuse people if you don’t look at the numbers.
One such conspiracy is the one claiming the world has a great deal more gold hidden in huge vaults. We continue to read and hear about the infamous Yamashita’s gold hoard or Karen Hudes statement that there are 170,000 tonnes of gold stored in Hawaii. I have even seen estimates of 1,000,000 tonnes of gold in the world.
I sat down with Will Lehr at Perpetual Assets and discussed why I don’t believe there is a great deal more gold in the world than official estimates. Sure, there might be more than claimed, but not the 100’000’s tonnes stated by several in the industry.
By: Alasdair Macleod, GoldMoney.com (February 27th, 2015)
The US dollar eased this week when Janet Yellen of the Fed gave her semi-annual report on monetary policy to Congress.
It was no surprise that Ms Yellen hinted at caution over interest rates due to external events, such as the outlook for the Eurozone and uncertainty over China, but overall she was careful to be non-committal.
Following her testimony an easing dollar provided support for precious metals with gold having tested the $1190 level twice, last Friday and Tuesday, forming a short-term double bottom. This indicates good technical support in the short-term at least. Silver followed this same pattern finding similar support at $16.00. Precious metal prices improved yesterday as the dollar rallied on some bear-closing and notable weakness in the euro. The result is gold and silver rose marginally on the week by early London trading this morning.
By: SGTReport.com (February 27th, 2015)
In this episode of documenting the collapse we meet up with researcher David Quintieri, author of The Money GPS. David and I discuss the Pentagon's ongoing proxy wars, economic warfare and the crumbling US economy.
David notes, "The real wealth of the people is declining year over year. The people have lost faith in their government while at the same time they are more dependent on their government, and this is going to hit a tipping point and then we are going to have a very big problem."
By: Axel Merk, MerkFunds.com (February 25th, 2015)
I’ve long argued that there may not be any safe asset anymore and that investors may want to take a diversified approach to something as mundane as cash. But what about gold? When I mentioned in a recent interview that not even gold is ‘risk free,’ it raised some eyebrows in the gold community. Let me elaborate.
By: Gary Christenson, GoldSilverWorlds.com (February 25th, 2015)
Debt and budgets in the trillions of dollars and euros are difficult to comprehend. The US budget is nearly $4 Trillion per year while the US official national debt exceeds $18 Trillion. A single large bank may hold contracts for more than $50 Trillion in derivative contracts. Global debt is approximately $200 Trillion.
Let’s relate those numbers to gold prices, gold mined each year, and gold mined throughout history.
By: Greg Hunter, USAWatchdog.com (February 25th, 2015)
Best-selling author of “The Harbinger,” Jonathan Cahn, is worried about America. Cahn, whose new book “Mystery of the Shemitah,” warns, “Everything is converging around this time (which is based on 7 year cycles). I believe we need to be ready, and that’s why I believe I had to write the ‘Mystery of the Shemitah.’ I believe a great shaking is coming. Whether it is in these parameters, or around these parameters, or after these parameters, a great shaking is coming to America and we need to be ready.” Cahn goes on to say, “I believe we have a house of cards. We had that in 2007 and 2008, and everything was wiped out, and we said now we are not going to do this anymore, and we have gotten worse since then. What I have noticed is there are times when this phenomenon is stronger, and if you look at the 1930’s where you have the Great Depression . . . then the 1970’s and onward. The key thing, when you look at those two periods, is this comes at a time when America’s debt was at its peak. Now, this debt level, this house of cards, is astronomical. What that tells me, the phenomenon of the Shemitah is all the more powerful. I believe . . . we are going to see a collapse of this house of cards.”
By: Peter Cooper, ArabianMoney.net (February 25th, 2015)
The US Department of Justice and the Commodity Futures Trading Commission are investigating 10 major banks for possible rigging of precious-metals markets, reported the Wall Street Journal.
Goldbugs could hardly believe their ears after years of being told that there is no ground for such an investigation, despite the very obvious evidence gathered by GATA among others.
By: Joshua Enomoto, FutureMoneyTrends.com (February 24th, 2015)
Although the precious metals complex has the potential to be an important allocation of one's investment portfolio, a litany of commodity experts and financial analysts have stressed the risks associated with this particular sector. Industry names such as David Morgan, founder of The Morgan Report and renowned authority on gold and silver investments, emphasize the volatility that is typical of these markets. However, volatility alone is not necessarily the best indication of risk, since a given range of price fluctuation is necessary for capitalization incentives. After all, what would be the point of an investment if it was virtually guaranteed to maintain the status quo? To get to the bottom of the peculiarities that define the precious metals, a contextual analysis is required.
By: Michael Noonan, EdgeTraderPlus.com (February 23rd, 2015)
Every once and awhile, we get detractors dismissive of charts, some questioning why show them? Such comments come from people who are clueless on the information charts accurately convey, and they are the most current portrayal of developing market activity, typically way ahead of the news. Yes, there will be short-term, often short-lived reactions contrary to the prevailing trend, but it is the trend that is the truest “story of the market” as its most reliable message. Last week’s read of the charts accurately gave clues for what transpired this past week.
At some point, silver will lead gold to the upside, as is its propensity in bull markets. It is not at that juncture, yet, so we view silver for clues of a turnaround that will prove a new trend higher. For now, such a consideration is nonexistent. Perhaps the best way for “non-chartists” to understand is to see where price closed, last week. Then, look at the rest of the chart on the left hand side of last Friday’s price, and ask, where does it stand compared to recent past history?
By: Peter Cooper, ArabianMoney.net (February 23rd, 2015)
With eurozone money printing due to start next month and the Bank of Japan continuing to print more per capita than at the height of Fed QE, there is good reason to think the ‘crack up boom’ in global stocks will last another year or so.
The question for investors is to spot which asset class or country will benefit the most and enjoy the highest rises while this magic lasts. Expect gold to come back into focus as George Soros’s ‘ultimate bubble’.
By: Clive Maund, CliveMaund.com (February 23rd, 2015)
The reaction back by gold over the past month was preceded by an explosion in Commercial short and Large Spec long positions. On gold's 6-month chart we can see that this reaction has been quite deep, and that it has taken the price back down below the neckline of a potential Head-and-Shoulders bottom pattern, where it should have found support and turned up again. The fact that it didn't is a negative development, that opens up the risk of a retreat back to the vicinity of the lows, although as it is short-term oversold here and on a support level, it could bounce first, then head lower. Moving averages are in a potentially strongly bearish configuration on a medium-term basis, as the 50-day is rolling over beneath a still falling 200-day.
By: Clive Maund, CliveMaund.com (February 23rd, 2015)
Following the recent explosion in Commercial short and Large Spec long positions in silver, followed by a breakdown below the neckline of a potential Head-and-Shoulders bottom, the outlook for silver is bearish, with the metal stuck in a stubborn downtrend.
By: Jeff Nielson, BullionBullsCanada.com (February 22nd, 2015)
Regular readers are well aware of an unresolved problem/issue which has permeated these commentaries for (especially) the past three years: the lack of any rational or objective means for pricing assets, most notably precious metals themselves. There are two enormous obstacles facing any analyst, in attempting to resolve this issue.
First of all; our economies are now operated with currencies which are not only worthless, but are absurdly fraudulent and worthless. With all asset prices denominated in one form or other of this worthless paper; this makes the absolute price for all hard assets “infinity” – with no means of differentiating between asset classes.
By: SGTReport.com (February 22nd, 2015)
In this episode with Miles Franklin’s Andy Hoffman we document the collapse as it spreads from nation to nation.
Everyone has their eye on Greece as it rebels against the wishes of the International banking cabal, but on this call we also talk in detail about the crumbling global economy as quantified by the Baltic Dry Index which just hit a new all-time low. With the west coast ports closed, America’s just-in-time delivery system and economy is at more risk than ever.
By: Alasdair Macleod, FinanceAndEconomics.org (February 19th, 2015)
In late November I wrote an article suggesting that it could be in Russia’s interest to put the rouble on a gold exchange standard. The salient points were the Russians could easily make it stick, inflation would be tamed, and importantly Russia would divorce herself from the currency war being waged against her by her NATO enemies. The immediate consequence of such a move would almost certainly drive gold prices higher, if only because bullion banks would be forced to reconsider their short positions, in the knowledge that Russia would probably become a more aggressive buyer to build her reserves.
This move would be very good for Russia, if you understand Austrian economic theory, but would be judged reckless by mainstream macroeconomists. So it is obviously a prerequisite that President Vladimir Putin’s advisers would have to lean strongly towards sound money theories, if they are to advise such a move. Whether or not this is the case we do not know; the only thing we can do is look at the evidence and try to see things from Putin’s point of view.
By: Bill Holter, MilesFranklin.com (February 19th, 2015)
There are many financial and geopolitical events all coming together, culminating or beginning within the next couple of weeks. The two most notable are what will happen in Greece and Ukraine. There have also been many other clues pointing to some sort of event coming to pass. In southern drawl, you might say “somethin’s fixin’ to break”.
We have previously covered Greece and how it’s exit or default could affect Europe, the West, derivatives and ultimately the global financial system. We have also looked at Ukraine and the potential geopolitical/military ramifications involved. As of now, the Greeks have not yielded to taking on more debt and the cease fire in Ukraine never even took hold. What I want to look at today are two seemingly unimportant and entirely disconnected events that may turn out to be of utmost importance AND very connected.
Chinese New Year begins this week on the 19th and the gold/silver fixes are being altered in a very big way. I know what you are thinking, “so what?”. Please follow this thought process through, I have a theory and it will not take very long to find out whether or not it is valid.
By: Taki Tsaklanos, FutureMoneyTrends.com (February 19th, 2015)
Earlier this week, an interesting article appeared, entitled "A Remarkable Proposition". In it, Ted Butler describes a suprising evolution against the ongoing manipulation in COMEX. In particular, a paper was published by a Cornell law professor and CFTC staff counsel. Its main thesis was that many aspects of high frequency computer trading (HFT) may be illegal under basic commodity law. Up until now, it was assumed that HFT was legal, but disabused and impacted markets in disruptive manner on occasion. Ted Butler says that "Scopino makes a well-researched case." The paper is 90 pages, but a summary can be read here.
By: David Levenstein, LakeshoreTrading.co.za (February 18th, 2015)
The global gold markets were subdued on Monday as volumes were low mainly on account of the short trading day in the U.S. markets due to Presidents Day. Gold fell last week, but managed to bounce off their weekly lows. After slipping briefly below $1220 an ounce on Thursday, the price recovered later in the day and edged slightly higher on Friday to close out the week at $1227.90 per ounce.
Although a ceasefire between Ukraine’s army and pro-Russian rebels came into effect from 22:00 GMT Saturday, there have been several accounts of fresh gunfire. Associated Press journalists traveling toward Debaltseve from the north on Sunday morning heard explosions from about 25 kilometers (15 miles) away. A Ukrainian officer, whose unit’s tanks were parked by the side of the road, said it was the sound of rebels firing. This could not be confirmed independently.
By: Bill Holter, MilesFranklin.com (February 18th, 2015)
Very strange happenings in all things financial, perhaps the most strange is located within the COMEX.
First, for the last year and a half or more, we watched as gold and silver open interest steadily rises for several months and then suddenly falls in collapse fashion. The rise and collapse in open interest have not been parallel in gold and silver, often times they have been directly inverse as they now are currently. Open interest in gold is currently close to multi year lows while silver’s open interest is near multi year highs. Why is this? Why would these two metals have opposite moves in open interest? Some might say because of “spreading” or ratio trades being long one while short two the other or what have you, I don’t think so.
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