Archive for the ‘George Soros’ Category

Metals Mirror Ukraine Volatility

Posted by on August 16th 2014 in CME Group, Federal Reserve, General Economy, George Soros, Gold, Russia, Short Sellers, Silver, Ukraine, Wall Street | Be the first to comment!

MetalsMirrorUkraineVolatility

Gold and silver were as erratic Friday as the day’s news reports about whether or not Ukraine artillery destroyed parts of a Russian column that did or didn’t cross into Ukraine. The metals fell early, and hard, in what was described as “a pretty obvious takedown,” occurring as initial inspections of the “humanitarian convoy” vehicles, which definitely did not cross the border, came up “almost empty,” according to a BBC correspondent.

Then, writes Dan Norcini, recapping the action in gold, “around mid-morning, up went the yellow metal, recapturing the $1300 level as reports filtered into the market that Russian forces had crossed the Ukrainian border and been engaged by their troops.” When all was said, but far from done, spot gold and silver ended off 0.7% and 1.4% respectively, with their near-term direction possibly hinging on the answer to this question.

See also:

Bloomberg/WSJ:  First daily silver price set after end of London fixing

GoldCore:  New ‘LBMA silver price’ – Still not transparent

RT.com/GoldSeekRussia seeks safe haven in gold, away from dollar and euro; No escape from the dollar as the currency standard

Zero Hedge/Bullion Baron“Soros put” rises to record – Is the billionaire investor betting on a market crash?

Mineweb/Barron’s:  Soros invests in gold stocks, Paulson holds his big ETF position – rode gold higher in 2Q

Short Side of Long/MarketWatchAging bull! – 283 weeks; Four signs this bull market is on its last legs

Confounded Interest:  Falling 10Y Treasury yields, flattening curve are not signs of a dynamic economic recovery

Is Gold Finding a Floor?

Posted by on November 21st 2013 in China, Federal Reserve, General Economy, George Soros, Gold, Janet Yellen, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

GoldFindingAFloor

In a MarketWatch column offering up “4 reasons gold is poised for a comeback,” InvestorPlace.com editor, Jeff Reeves, suggests that “it’s possible that gold has found a floor and that now is a decent time to buy.” He concedes that “there are still some big challenges for the precious metal — especially in the last week or so when prices have been steadily rolling back again. But even if investors are a bit early as they turn to gold, fears of overbought domestic stocks may make even an uncertain bet in gold a preferable alternative to some right now.” The four reasons he cites are 1) global physical demand, 2) a slowing in the pace of ETF outflows, 3) Smart money likes gold, and 4) Tapering delayed, buy not denied.  And about the latter he reminds that “gold rallied from a low of under $1,200 at the end of June to $1,400 in August on the expectation that tighter monetary policy was on the way.”

U.S. Treasury Maintains ‘Firm Belief’ in Gold

Posted by on October 4th 2013 in China, Federal Reserve, General Economy, George Soros, Gold, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!

As Jim Grant explains why he sees gold as an “undervalued asset,” MarketWatch columnist Brett Arends writes of having approached U.S. Treasury officials this week to find out “if they would consider selling some of the country’s gold reserves to pay the bills if the budget crisis escalates later this month. Their response? Not a chance….They remain firm believers in gold. Big-time.”

“The Treasury has considered that [selling] option, among the many others, and rejected it,” continues Arends.  “‘Selling gold would undercut confidence in the U.S. both here and abroad,’ a spokeswoman said, ‘and would be destabilizing to the world financial system.’ She was quoting an official position laid out last year in a letter to Senator Orrin Hatch, but so far apparently little noticed on Wall Street. The Treasury’s position is, in a word, extraordinary. We hear all this skepticism these days about gold. Yet the Treasury itself considers U.S. gold holdings to be a key element in maintaining confidence in the country’s soundness—and the stability of the international financial system.”

News & Views

Reuters:  Gold slips 0.5% as dollar recovers, eyes on U.S. shutdown; silver off 0.2%;

Bloomberg:  Gold falls on bets U.S. deadlock will be settled soon; Gold traders bullish a third week on U.S. stalemate

Businessweek/Reuters/BullionVault:  Boehner insists on health law changes to end shutdown; Republicans hang tough in standoff; Gold in U.S. shutdown: The 1996 lesson

MarketWatch/SafeHaven:  Fed speakers suggest Octaper is remote; Fed retreats from tapering, five reasons why

Mineweb/Jesse’s Café Américain:  Why is is the gold market so focused on tapering? Other factors are more important; Currency wars and the ghost of Bear Stearns – The mass exodus of gold bullion

GoldSeek/Mining.com:  Silver beats gold as Asian demand eases, but “challenges London” as world hub; Asian gold fever hits Thailand

The Daily Gold/MarketWatch:  Precious metals need equity market weakness; Nearly 50% of CFOs think shares overvalued

Scrap Register/Mineweb:  Report – Russia’s gold output rises sharply in Jan-July; The Silk Road redux – gold’s journey East

Zero Hedge:  Goldman’s 3 debt-ceiling debacle scenarios; A debt ceiling fight stretching into November? Bond traders increasingly say yes

MarketWatch/The Atlantic:  U.S. banks bump up ATM cash stocks against panic; The most well-known fact about U.S. debt is wrong

Washington’s Blog/Of Two Minds:  Infographic – The dangers of an all-powerful Federal Reserve; Have we reached peak Federal Reserve?

Yahoo Finance:  Jim Rickards – This is the next sub-prime crisis

EUobserver/Zero Hedge/Bloomberg:  Top-level discussion glum on state of EU; About the “Europe is recovering” meme; EU won’t survive decade of stagnation, George Soros says

ProPublica/Consumerist:  Shutdown prompts rare government mix – Imagination and laughter; Police – RadioShack worker punched customer for being sarcastic

Silver Bull Reappears; Physical Gold Last Seen in Asia

Posted by on August 15th 2013 in CFTC, China, Federal Reserve, General Economy, George Soros, Gold, India, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

“Silver futures rallied into bull-market territory, jumping 5.5%,” reports the Wall St. Journal, “while gold prices touched a fresh eight-week high amid worries about the Mideast and a stock-market selloff.” And according to Gold Newsletter‘ editor Brien Lundin, quoted by MarketWatch:  “Pundits out there are touting safe haven demand, and I can’t argue with that. The deteriorating situation in Egypt and the selloff in U.S. equities are undoubtedly having an effect.

But that effect is being exacerbated by the extreme tightness in the physical gold market.  As the recent filings have highlighted, western speculators sold their gold this spring, and it’s been shipped to China and elsewhere in Asia. The Asian markets are still buying, and if western traders want to buy gold now, they’re going to have to fight these Eastern savers for every last ounce.”

News & Views

CNBC:  Gold surges in afternoon rally; Demand for physical gold jumps 53% in second quarter

ForexLive:  An obituary for the gold bull market… time for a resurrection?

Dan Norcini:  What a day in the precious metals complex!; Gold breaks free from its range trade

KWN/Zero HedgePerfect storm now in gold & silver

Jesse’s Café Américain/Liberty Blitzkrieg:  Gold & silver charts — Where are your reserves?; Two powerful videos on physical gold supply tightness

SilverSeek:  What does the silver to gold ratio tell us about silver’s future moves?; Silver: The GSR bottom finder

Reuters/USA Gold:  Paulson & Co more than halves gold ETF stake in Q2; Paulson and gold

Telegraph/Mineweb:  Chinese and Indians dash for gold; Gold & silver sales jump during Ramadan & Eid in India

Times of India/Real Asset Co.: World Gold Council: India’s gold consumption at 310 tonnes in Q2, highest in 10 years; Five things India’s gold war means for Asia

Sprott Group/GATAShanghai surprise; China publicized Western gold market rigging just hours after April smash

Mineweb/Bullion Street:  CFTC war on precious metals schemes snares supposed scam; Red alert sounded on fake gold, silver coins

GoldSeek:  You don’t plan on being retired very long, do you?

Bubble Trouble?

Posted by on May 18th 2013 in Federal Reserve, George Soros, Media, Monetary Policy, Quants, Short Sellers, Wall Street | Be the first to comment!

“I see nothing in this environment inconsistent with my view that this is the biggest, most precarious Bubble in history,” declares Doug Noland in his weekly Credit Bubble Bulletin.  After noted hedge fund manager David Tepper went on CNBC this week and reaffirmed his stock market bullishness, Noland saw Tepper’s appearance “as confirmation of the U.S. stock market officially attaining ‘Financial Euphoria.’  So it’s not an inopportune time to reread John Kenneth Galbraith’s little gem “A Short History of Financial Euphoria.” There is a long history of manias and, as Galbraith points out, there are common themes and common conclusions.”

Metals’ Bull Seen Ripe for a Rousing

Posted by on May 17th 2013 in CFTC, Federal Reserve, General Economy, George Soros, Gold, India, Monetary Policy, Quants, Russia, Short Sellers, Silver, Wall Street | Be the first to comment!

“I have never in my life seen a market set up technically for a big bull move as gold/silver and the mining stocks are now,” argues Dave Kranzler, in a Seeking Alpha article.  Kranzler, who also publishes The Golden Truth blog, writes that “Contrary to what’s being reported in the financial media and by market gurus in the U.S., it’s common knowledge abroad that the demand for physical gold globally has reached extraordinary, unprecedented levels. In fact, after yesterday’s price take-down in the paper Comex market, premiums for gold bars in Hong Kong and Singapore reached all-time highs…. It is this premium and unprecedented demand for physically deliverable gold by the large gold-consuming eastern hemisphere countries like China, India and Russia that will ultimately ignite an extended move higher in gold/silver. This move will feature a short-squeeze/short-covering dynamic in the paper futures market that will take the gold bears, and even most equivocating gold bulls by surprise.”

News & Views

Jesse’s Café Américain/WSJ:  Paper gold, metal gold – When worlds diverge; Five reasons why gold bulls are right

Reuters/Zero Hedge:  Gold & silver futures fall 1.6% as Fed pressured to end stimulus;  Goldman issues Q&A on tapering: Says “not yet”

Reuters/Dan Norcini:  Dollar rises past 103 yen, a 4 1/2 year high, on U.S. data; Surging US dollar derailing gold and silver

Bloomberg/Peak Prosperity:  U.S. stocks rally with dollar as data fuel economic confidence; The S&P 500 is now a gambler’s paradise with 76.9% up days in May so far

GoldSeekThe casino vs. the gambler

Financial Post/MSN Money/Jim Sinclair:  Gold’s dichotomy: Investment demand plunges, but consumers keep buying; Why gold won’t stay down; Physical gold has it’s best days ahead

Bullion Street/Silver Investing News: Stage set for another scramble for gold, silver; Silver’s Thursday rally inspires some cautious optimism

Mineweb/Sharps Pixley:  Average silver prices could decline to $24/oz this year – CPM Group’s Silver Yearbook 2013

Market Oracle/GATA:   The last investable moment for silver; Golden bullseye – ‘Fundamentals always win eventually’ — but who will define ‘eventually’?

Got Gold Report/Miles Franklin/Saxo Markets:  Why the price smash affected GLD and SLV differently; Who got the 10 million ounces of gold that left GLD?; The great gold rout infographic

Mineweb/Times of IndiaAnti-gold campaign at play in India?; Growth in demand for gold in India higher than China

CNBC/Bull Market Thinking:  Peter Schiff – Coming Japanese crisis will spike gold; Soros reports over $239 million in gold positions, buys $25 million in call options on juniors

What’s Behind GLD Outflows?

Posted by on May 8th 2013 in CFTC, China, Federal Reserve, General Economy, George Soros, Gold, India, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

In an interview with Mineweb, Steve Allen of asset manager Greenbriar Partners, argues against reading too much into gold’s drop, which he sees as “primarily ETF-related,” a subject he initially addressed in a blog post titled, “Keystroke Chaos.”

And as the ETF’s impact on the gold price is debated, The Golden Truth, in an analysis of outflows from GLD, concludes that “the big price smashing of gold in mid-April was an operation designed to shake loose enough 400 oz. gold bars out of GLD in order to satisfy the enormous delivery demands coming from Asia, India and even within Europe.  GLD is the only possible source of above-ground 400 oz. gold bars that could be used to satisfy this enormous demand for physically deliverable bars.”

News & Views

MarketWatch/Coin News:  Gold futures gain 1.7% to settle at highest in nearly a month; silver adds 0.5%; Gold and silver rebound, U.S. Mint bullion coins gain

Silver Doctors/Seeking Alpha:  Silver to grind higher while bears look for collapse to $18; Silver caught in cross currents

Jesse’s Café Américain/WC Varones:  A rather large long bet on silver made as futures took price lower; No silver for you!

Bloomberg:  Gold futures gain amid signs of physical demand in India, China; Gold imports by India seen topping 100 tons for a second month

Zero Hedge:  Chinese gold imports soar to monthly record on insatiable demand; China gold imports to keep growing after hitting record high

Mineweb/GATA:  Mr. Spock would definitely find current gold price levels illogical; Gold plunge was not natural market event, fund manager Auerback says

Got Gold Report: Gold corrections & mushroom clouds

Minyanville/Bloomberg:  Why Wall Street is unmoved by global gold fever; Gold’s biggest drop in 30 years fails to deter advocates

Merk Investments:  Currency wars: Winners and losers

Dan Norcini/Sydney Morning Herald:  Australian dollar drops sharply on RBA rate cute; George Soros’ billion dollar bet on Australian rate cut pays off

Spiegel/MarketWatch:  German euro-skeptic party gaining ground; Stodgy Netherlands is nation that’ll blow up euro

GoldSilver.com/Silver Investing News:  Torrent of fake U.S. Silver Eagle coins flood Canadian market; How to avoid and identify fake silver

Fox Business/Bloomberg:  JP Morgan confirms energy probe as regulatory troubles mount

JPMorgan’s Master(s) of the Universe in Hot Seat

Posted by on May 3rd 2013 in CFTC, China, Federal Reserve, GATA, General Economy, George Soros, Gold, India, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

Gold and silver ended mixed on Friday, with the former flat and the latter gaining 1% after a better-than-expected non-farm payrolls report showed that the U.S. added 165,000 jobs in April.  But one job that might be in jeopardy is that of Blythe Masters, JPMorgan Chase’s head of global commodities, and a bête noire of retail silver investors.

When JPMorgan took over Bear Stearns in 2008, it famously inherited a slew of silver shorts.  It also inherited from Bear Stearns the rights to sell electricity from power plants in California and Michigan.  And according to a Federal Energy Regulatory Commission (FERC) document leaked to the New York Times, “Government investigators have found that JPMorgan Chase devised ‘manipulative schemes’ that transformed ‘money-losing power plants into powerful profit centers,’ and that one of its most senior executives [Masters] gave ‘false and misleading statements’ under oath.”

News & Views

Reuters/East Valley Tribune:  Arizona governor vetoes bill making gold, silver legal tender

The Economist:  America’s jobs report: Not swooning, not soaring

RTT/Wall St. Cheat Sheet:  U.S. factory orders fall more than expected in March; Are falling factory orders a bad economic omen?

Got Gold Report/The Daily Bell:  Charles Biderman – Harsh consequences from the end of money printing; Fed is tightening. No, it’s loosening. No, it’s …

GoldMoney:  Fear Index April 2012 – The calm before the storm; Gold market report – reduced volatility

Bloomberg:  Gold volatility fueled by structured note trades, BNP says; Gold traders most bearish in three years after drop

Jesse’s Café Américain:  The metals bears advance to Stalingrad

MarketWatch/Peak Prosperity/Got Gold Report:  What bullion dealers are saying about gold demand; What the gold charts are telling us; Gold and silver COT report for May 3

SilverSeek/Sprott Money:  Little cracks in confidence; Ask the expert – John Embry

South China Morning Post/Mineweb: Chinese mothers beat Wall Street to force gold price rebound; Who’s smartest on gold – Chinese housewives or George Soros?

Bloomberg:  UBS says India gold flows at least 5 times the 12-month average; Gold imports by India to decline as central bank curbs purchases

GATA:  Tocqueville’s John Hathaway – Somebody is ‘sitting on the gold price’; Bill Buckler’s farewell – Denying gold market manipulation is silly

Bloomberg: Justice Department official:  U.S. prosecutors pursuing Libor convictions

Business Insider/MSN Money:  Regulators blame Libor fixing on the sex, drugs, and lavish perks of London banking; Earlier:  Did coked-up bankers cause the financial crisis?

In Gold and Silver We Trust

Posted by on April 8th 2013 in CFTC, China, Federal Reserve, General Economy, George Soros, Gold, India, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

In a lengthy acknowledgement of the growing interest in alternative currencies, Bloomberg reports that “Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.

One example cited is the proposed Texas Bullion Depository, which “might become a bi-partisan effort,” and according to Currency Wars‘ author Jim Rickards, “would offer sovereign backing for deposits and make buying and storing gold easier. He said the coin measures, while impractical, have symbolic value,” adding that “We are seeing a distinct movement back to a world where gold is considered money.”

News & Views

MarketWatch/South China Morning Post:  Gold down 0.2% to log fourth loss in five sessions; silver off 0.3%:  Article references this interview with George Soros

SafeHaven:  Au and Ag:  Test in progress

Gold Silver Worlds/Dan Norcini:  Silver sentiment reaches extreme levels;  Silver notes via chart

Silver Doctors/Zero Hedge: COT report:  Commercials cover massive 28 million oz of net silver shorts;  80% chance of 40% silver short squeeze

SilverSeek/Seeking Alpha:  The state of silver and other anomalous events; Silver: Let’s get ready to rumble

Michael Pento/Tim Iacono – Money flows into gold & silver are about to skyrocket; Dismal labor report gives precious metals markets new life

Sprott Group:  A retort to SocGen’s latest gold report

Alasdair Macleod/Paul Craig Roberts/Business Day:  Gold price suppression: the game goes on; The assault on gold; How the U.S. herds the ‘sheep’ away from the gold market

Gold Silver Worlds/GATA:  Gold & silver Comex prices may be manipulated but still accurate; Jim Sinclair: U.S. will start manipulating gold higher

Bloomberg/The Golden Truth:  Fed faces risk of fourth summer slump while pushing QE; Is the U.S. economy in serious trouble?

Doug Noland/South China Morning Post: Kuroda leapfrogs Bernanke; Japan stimulus will start currency war, say Chinese economists

Bullion Street/Mineweb:  UAE to build mega Gold refinery near Dubai; New Dubai gold and PM refinery to be one of world’s largest

Rediff.comIndia’s love affair with gold

Shorts Seek Cover on Weak Jobs Report

Posted by on April 5th 2013 in Federal Reserve, General Economy, George Soros, Gold, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

Gold and silver futures gained 1.5% and 1.7% respectively after the March non-farm payrolls report showed a gain of only 88,000 jobs, the lowest level in nine months and a number that will “likely silence those calling for a phased withdrawal” of quantitative easing, according to USA Gold’s Peter Grant.

Reuters reports that “investors in droves bought back their bearish bets, boosting gold prices in a process known as short-covering, analysts said.” And one options trader told The Street that “There’s a lot of shorts in the market here” and “they were in control as of yesterday. But today it was quite painful to be short with that number that came out.”

Another number that came out was 663,000 — the increase in people not in the labor force, which means an estimated 90 million Americans are no longer looking for work.

News & Views

Jesse’s Café Américain:  Gold and silver charts – Bounce on a dose of reality

Reuters/WSJ:  Martin Hutchinson:  New despair seeps out of U.S. employment numbers; Bad news: Broad unemployment rate tumbles

MarketWatch/CNBC:  No QE tapering this year seen after weak jobs data; Forever Fed:  Jobs blues sets up eternal easing

Dan Norcini:  Payrolls number gives gold a jolt higher; Sinks S&P 500; Gold and mining shares part way

P. Radomski/Daily Gold/Money Morning:  Gold price breakout and breakdown; Charts to provide perspective for gold bulls; This gold prices chart points to a looming 24% jump

Bull Market Thinking:  Gold trader: “Once this bottom is formed, we may never see gold at these levels ever again”

Mineweb/GoldMoney:  Commerzbank:  Gold to remain in demand medium to long term; Interview with Marc Faber: ‘I would probably choose gold

Bloomberg:  Gold imports by India seen climbing as bullion nears bear market

Bullion Street/Rediff.comSupply constraints may hit India wedding season gold sale; Acute shortage of gold in south India

SafeHaven/GATA:  Tangled web suppresses gold and silver; Jim Sinclair:  Governments rig all markets now but gold is calling their bluff

Bloomberg/Naked Capitalism:  Kuroda leads Japan down Bernanke’s path of escalated easing

Zero Hedge:  Japan’s debt crisis visualized; George Soros warns “Central banks are creating financial instability“; Bridgewater asks, “Could Italy blow up the euro?”

KWN:  Rick Rule – The financial system may surprise you going forward

The Age/ICIJ: Mysterious mail to Australian journalist triggers global tax haven expose

How Gold Pullback Could End with a Bang

Posted by on March 12th 2013 in CFTC, China, Federal Reserve, General Economy, George Soros, Gold, JPMorgan, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

As gold and silver futures end Tuesday with gains of 0.9% and 1.1% respectively, MarketWatch quotes the Got Gold Report’s Gene Arensberg, who says that short positions among large speculators such as hedge funds are about 60% higher than last May when gold found support near $1,526. (see above chart)

“If the funds are convinced gold’s correction is done, that means they have a much larger short position this time to cover,” said Arensberg, calling that “high-octane buying pressure.”  He also reasons that “Locals and smaller traders will want to front run the specs too, adding to the violence of the short-covering rally.  That could cause quite a surge in the futures price for gold short term, and it’s how the gold pullback last year ended.”   More from Arensberg, who charts Tuesday’s “Gold breakout attempt with higher volume.”

News & Views

Bloomberg:  Gold caps longest rally in six months amid easing speculation;

Silver Investing News/Mineweb:  Can silver outperform gold in 2013?; Rick Mills – Is buying some gold and silver on your radar screen?

Bloomberg:  Gold sales from Soros reveal 12-year bull run decay; Analyst:  Here’s why now is the time to buy gold

Yahoo! Finance:  Gold is an investor’s paradise, iiTrader’s Bill Baruch says

Daily Reckoning/Mineweb:  “Sorry, no gold today… we sent it to China“; Shanghai Futures Exchange to begin after-hours trade in 2013

BullionVault:  The financialization of commodities

Reuters:  Banks saved, but Europe risks “losing a generation“; Euro woes not over, says crisis-wary Bundesbank

Bloomberg/Sovereign Man:  Norway fund flees currencies tainted by stimulus addiction; Here’s a healthy currency most people have never even heard of

GoldSeekDollar-crash proofing a portfolio

Mohamed El-Erian/The Daily Bell:  The Fed as ‘Oz, the great and powerful’; Seth Klarman yelp – The Fed has no clothes

Telegraph/Project Syndicate:  Sputtering global economy belies stockmarket boom; The great disconnect

SafeHaven/KWN:  Yin & yang, Dow Jones & gold; Richard Russell – Gold action, stock market melt-up & when to exit

Zero Hedge:  NYSE matched volume drops to new decade low In February; Who spends the most dollars lobbying Washington, DC?

Bull Market Thinking:  Lead counsel of silver manipulation complaint: A missing key ingredient may be needed for case to survive

Gold ‘Deeply Oversold’, to ‘Benefit’ from Currency War

Posted by on February 15th 2013 in CFTC, China, Federal Reserve, General Economy, George Soros, Gold, Monetary Policy, Quants, Short Sellers, Silver, Wall Street | Be the first to comment!

Before gold and silver futures ended Friday down 1.6% and 1.7% respectively, Jesse’s Café Américain wrote in an intraday gold commentary that it was, “Hard to miss the deliberate price smackdown. As I said yesterday, ‘I will not be surprised to see a final big move to run the stops to the downside in the precious metals, and take additional shares and units of paper claims before the markets break free.’

So is this ‘the final big move?’ Of course I do not know, no one does. But gold is now deeply oversold, and we are nearing the rinse phase of the wash-rinse cycle, at least according to the technical indicators. Things like this are a pity, because they make a sham of the markets. But what else is new. Three day weekend ahead. And the currency war is on.” More on that from MarketWatch, which reports on “How gold will benefit from a currency war.”

News & Views

SilverSeek/CNBC:  Gold and silver fall about 4% & 5% on the week; Gold falls below $1,600 – What’s next?

Zero HedgePOMO-less day plunges stocks and precious metals; VIX/VWAP save the Day; Gold at $1600, recoupling with stocks post QE2

Sprott Asset Management:  Precious metals round table – Eric Sprott, John Embry & Rick Rule

CNBCWhat currency war? Move along, G-20 leaders say; Draghi: currency talk fruitless, self-defeating

Puru Saxena/Business InsiderRace to debase; The currency wars will only get worse

Michael Pento:  Currency gold war

KWN:  Fitzpatrick & Greyerz – Fantastic gold chart & commentary; Hathaway – Give-up phase as Gartman shorting gold Is bullish

The Golden Truth/Independent:  Starting to feel like a bottom; Still worth taking a shine to gold

Bloomberg/Reuters:  Billionaires Soros, Bacon cut gold holdings on decline; Paulson & Co held on to gold in 4th quarter, others cut

Business Insider:  Central banks bought more gold in February; From watery bourbon to horse-meat chili: Hidden inflation is everywhere

WSJ:  The Rookie:  If there’s a crisis on Jack Lew’s Treasury watch, buy gold

Reuters:  Turkey to Iran gold trade wiped out by new U.S. sanction; Big powers to offer easing gold sanctions at Iran nuclear talks