Archive for the ‘Media’ Category

Paper Gains Slow; Bullion Sales Grow

Posted by on April 17th 2014 in CFTC, China, Federal Reserve, General Economy, Gold, India, JPMorgan, Media, Monetary Policy, Russia, Short Sellers, Silver, Wall Street | Be the first to comment!

PaperSlowsBullionGrows

Gold and silver futures added a fraction of a percent on Wednesday, with gold benefiting from “some mild short covering and bargain hunting,” according to one analyst cited by Coin News, which also reports “another day of wide bullion gains,” based on numbers from the U.S. Mint, “adding to already strong figures with sales so far this week at 13,500 ounces in gold coins and 1,122,000 ounces in silver coins. Those top last week sales of 9,000 ounces in gold coins and 1,050,500 ounces in silver coins.”

Dan Norcini sees gold “being batted back and forth between two opposing forces at the moment. The negative force continues to be the slowing Chinese economy with traders fearing a slackening of demand from that key consumer. The positive is escalating tensions in the eastern part of Ukraine.” Bloomberg quotes one commodities broker as saying that “As long as there’s uncertainty in Russia, having some exposure to gold makes sense. With the selloff yesterday, it seems like cheaper insurance today.”

See also:

Tim Iacono/MinewebReuters omits the grey areas about China gold demand;  China gold blogger Jansen sticks by demand figures

WSJ:  India continues to bring home the gold despite import restrictions

SilverSeek:  David Morgan interview on silver market, silver price manipulation & the coming global monetary reset

Michael Pento/Wall Street on Parade:  Fed rigs markets, not the Flash Boys; Insiders tell all: Both the stock market & the SEC are rigged

Zero Hedge:  Atlanta Fed asks “Where are the jobs“; Dallas Fed’s Fisher admits, “Fed policies have made the rich much richer

Metals Gain as Dollar Drops, Ukraine Tensions Rise

Posted by on April 9th 2014 in China, Federal Reserve, General Economy, Gold, Media, Monetary Policy, Russia, Short Sellers, Silver, Wall Street | Be the first to comment!

RenewedUkraineTensions

Gold and silver futures both added 0.8% on Tuesday to close above $1.300 and $20 an ounce respectively, with the gains attributed to a lower dollar and renewed tensions between the U.S. and Russia over Ukraine.  “The unrest in the Ukraine and the escalating rhetoric from the U.S. is creating fear of an armed conflict, so safe-haven demand is definitely driving up gold prices today,” according to one analyst quoted by Reuters, which notes that gold was “also underpinned by official-sector buying after Iraq’s central bank said it might buy more gold in the next few months, having bought 60 tonnes over the past two.”

See also:

Jesse’s Café Américain:  Gold and silver charts – Metals take back their levels

Bloomberg:  Hedge funds get gold timing wrong on rebound; Interview with Jim Rickards – Should investors prepare for a dollar doomsday?

SilverSeek:  Monetary collapse and silver’s not so orderly rise

The Economist/David Stockman: Central banks will be financing governments on a permanent basis; The ugly truth behind “jobs Friday

Mineweb/WSJ:  Gold manipulation – ex US Treasury top gun tells us how and why; Tocqueville Gold Fund says London probe could scare off institutional investors

Matt Taibbi interviewed on “The Daily Show,” and on NPR discussing his new book – “The Divide”

Gold and Silver Flip AM Script

Posted by on April 3rd 2014 in CFTC, China, Federal Reserve, General Economy, Gold, JPMorgan, Media, Monetary Policy, Quants, Russia, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!

MetalsFlipMorningScript

On Wednesday, silver futures gained 1.8% to finish above $20 an ounce for the first time since March 24, and gold futures added 0.8%.  Both went vertical at the open, and as Zero Hedge noted:  “Instead of the smack-down that we have seen around the 8 a.m. ET time each of the last 10 days, today gold and silver are spiking. It is unclear what the catalyst is – just as it is never clear what the catalyst for the monkey-hammerings are – but the timing with Putin’s retaliation threats (specifically against a major bank with a mysteriously active gold vault) suggest some causation.”

See also:

TF Metals Report/IRD:  Putin plays a golden card; The world slowly waves “good-bye” to the petrodollar

Wall St. Cheat Sheet/InvezzHere’s why you should buy silver; Commerzbank – Silver price decline may just be corrective

Peter Schiff/Bill Bonner:  The stealth rally – Gold under the radar;   America’s credit supercycle: The end is near

Reuters:  Bullion market eyes e-platform to revamp London gold benchmark

Bloomberg/Barron’s: Katsuyama, Narang, Lewis debate speed trading; Hedge funds are the real losers from high-speed trading

Mike Shedlock:  Supreme Court removes campaign caps; Worst congress money can bribe; Expect more divisive politics

 

Analyts Diff’r on Gold ‘Sentiment’

Posted by on April 2nd 2014 in CFTC, China, Federal Reserve, General Economy, Gold, Janet Yellen, Media, Monetary Policy, Quants, Short Sellers, Silver, Wall Street | Be the first to comment!

AnalystsDiff'rOnGold

With gold and silver futures both slipping 0.3% on Tuesday, as stocks rose on what was described as “a record Fed-assisted window dressing operation,” Bloomberg cites an HSBC note concluding that the “near-term sentiment for gold appears negative,” with its recent decline “largely explained by the combination of receding geopolitical tensions and the Fed’s guidance for higher interest rates.” But according to two precious-metals strategists at UBS, gold’s “correction has been relatively orderly and interest to buy the dip is evident. This reflects the underlying improvement in sentiment towards gold – investors are acknowledging the value of holding gold to diversify portfolios and insure against tail risks and are therefore looking for opportunities to get in at better levels.”

See also:

321goldGold versus Silver

CNBC/Mineweb:  Why gold bears are watching U.S. payrolls; Analyst – Recent gold price decline surprising

John Rubino/Bloomberg:  Debt makes you dumb, Japanese edition; Yellen’s real-life examples of unemployed omit criminal records

New York/Zero Hedge9 gripes from a leading high-frequency trader about “Flash Boys“; HFT debate devolves into epic screamfest in milliseconds

Michael Lewis interviewed on “Fresh Air” and CNBC

Gold Surprises; Michael Lewis Takes On HFTs

Posted by on March 29th 2014 in Federal Reserve, General Economy, Gold, Media, Monetary Policy, Quants, Short Sellers, Silver, Wall Street | Be the first to comment!

FlashBoys

Although gold and silver ended down 3% and 2.5% on the week after logging a slight gain on Friday, gold beating U.S. stocks was seen as one of “The Top 10 Surprises of the First Quarter.”  And before spot gold closed at $1,294 on Friday, one analyst, looking ahead to next week, told Reuters that “If we don’t close below $1,290 today, we could see some consolidation around these levels ahead of the ECB on Thursday and U.S. nonfarm payrolls on Friday.”

And as it’s argued that last April’s gold smash was more about high-frequency trading, than say, garden variety market manipulation, Michael Lewis takes aim at the former in his new book, “Flash Boys,” which will be published on Monday. Lewis will be interviewed on “60 Minutes” this Sunday, and CNBC has some excerpts from the book, in which Lewis likens HFT’s to card counters in casinos, who only play when they have an edge:  “That’s why they were able to trade for five years without losing money on a single day.”

Gold Gains On Ukraine Tensions, Weak Chinese Data

Posted by on March 11th 2014 in China, Federal Reserve, General Economy, Gold, Media, Monetary Policy, Russia, Short Sellers, Silver, Wall Street | Be the first to comment!

ChineseExportDataGold and silver ended mixed on Monday, with gold’s 0.3% gain tied to “signs of a deepening crisis in the Ukraine,” reports Bloomberg, citing an analysis by  Commerzbank Ag analysts that “gold should be in demand as a safe haven given the geopolitical tensions between Russia and Ukraine.” Gold was also said to be supported by what a Reuters article describes as “disappointing Chinese export data,” which showed that February exports were down 18% year-over-year. One possible explanation is a drop in credit growth that leads a SocGen analysis to conclude that “The season of weak Chinese data has just begun.”

See also:

Telegraph/MNI:  Top German body calls for QE blitz to avert deflation trap in Europe

Jesse’s Café Américain/KWN:  Ukraine gold reserves said to be put on plane for safekeeping in the U.S.

GoldSeek:  Where do gold and silver prices go from here and do the experts have a clue?

Casey Research/SafeHaven:  Gold is seasonal – When it the best month to buy?; Monetary metals supply & demand report

Silver Coin Investor:  The mainstream grapples with the last manipulated asset class

China Gold: A Tale of Two Headlines

Posted by on February 27th 2014 in China, Federal Reserve, General Economy, Gold, Media, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

MinewebVsBloombergChinaGold

Mineweb‘s Lawrence Williams asks readers to compare the headlines of the above articles “for effectively the same story using exactly the same figures…According to the Bloomberg interpretation of the latest gold import and export figures from the Hong Kong Census and Statistics Department, the special administrative region exported a net 83.6 tonnes of gold to the Chinese mainland in January.

As Bloomberg rightly notes this is a fall – albeit a fairly small one – of around 9% from the 91.9 tonnes in December – so far so good.  But gold trade between Hong Kong and Mainland China can be seasonal so perhaps the better comparison should be to compare this with the net exports from Hong Kong to mainland China in January last year – which came to a very low 19.6 tonnes – hence the 326% rise noted in the Mineweb headline.  Incidentally Hong Kong net gold exports to the mainland were 96.7 tonnes in December 2012 – so the December figures for 2012 and 2013 were broadly comparable, but the January ones certainly were not!”….Read more >>>

See also:

MarketWatch/GoldSeek:  Gold ends with a loss, its first in four sessions; Gold and silver fall about 1% and 3%

Zero Hedge:  Silver slumps to worst day in 2 months as BofA says “sell gold”

Gold Silver WorldsGold and silver outlook – Recovery, recession, deflation or seasonality?

MarketWatch:  Matthew Lynn – Three warning signs from higher gold prices

GATAFinancial Times story on gold price rigging was erased deliberately

Metals’ Gains Tied to Manufacturing Misses

Posted by on February 21st 2014 in China, Federal Reserve, General Economy, Gold, Janet Yellen, Media, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

MetalsRiseonWeakMfgData

The prospect of additional QE from China was seen as the catalyst for gold and silver rising after the country’s manufacturing sector hit a seven-month low, based on the HSBC PMI reading. Spot gold and silver ended up 0.9% and 1.5% respectively, with the gains also attributed to weak U.S. manufacturing data from the Philadelphia Fed. A USA Gold article points out that while one manufacturing gauge, Markit PMI, came in better than expected, “the Philly Fed index was a huge miss…. The jobs component of the index fell to fell to 4.8 from 10.0 in January, which has already resulted in some negative revisions to February nonfarm payrolls expectations. I suppose there is a chance that another bad NFP print could prompt Yellen to push for reconsideration of tapering when she presides over her first meeting as chair in March.”

See also:

Bloomberg:  Switzerland sent 80% of bullion exports to Asia in January

Mining.com:  Two ‘outright’ bears have second thoughts on 2014 gold price

GoldPrice.org:  Franklin Sanders:  Silver and gold prices have bottomed, period.

Gold Silver Worlds:  Silver doesn’t have much resistance between $21 & $26

Matt Taibbi says goodbye to Rolling Stone, joining Glenn Greenwald at First Look Media

Gold Alternative Gets Bad Rap in India

Posted by on February 15th 2014 in Gold, India, Media, Silver | Be the first to comment!

IndiaBadRap

Tim Iacono:  “This is about the most ridiculous thing that I think I’ve ever come across when it comes to shaping opinions about investing. Straight from India, where there’s been a concerted effort to get people to invest in stocks, bonds, and other paper promises rather than gold, comes this rap video extolling the virtues of mutual funds.”  And, it has more than 1 million views in just one month!

See also:

Press Trust: Gold, silver surge on strong seasonal demand, global cues

Times of India:  Government raises tariff value on gold, silver; Gold smugglers turn creative to beat law

Silver’s Medical Miracles

Posted by on January 18th 2014 in Gold, Media, Silver | Be the first to comment!

SilverMostPreciousMetal

Gold Silver Worlds introduces & excerpts the recently published, “The Most Precious Metal: Why Silver is More Valuable than Gold, Platinum, or Money.” Lead author Gordon Pedersen is also the medical director of the Silver Health Institute.

“The most precious metal during a crisis is silver, but not because of its role as a monetary metal…. Silver is nature’s finest germ killer. Simply by being silver, this most precious metal’s elemental properties are toxic to pathogenic microorganisms while simultaneously being non-toxic to healthy cells and probiotic bacteria.”

Faber Prefers Physical Metals to Bitcoin

Posted by on January 15th 2014 in Bitcoin, China, Federal Reserve, General Economy, Gold, Media, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

FaberPreciousOverBitcoin

Warning that “We are in a gigantic financial asset bubble” that “can burst any day,” Marc Faber also said on Bloomberg TV:  “I prefer physical gold and silver, platinum to bitcoin. Bitcoin can have a lot of competition. Gold and silver and platinum — they have no competition…. How do you value a bitcoin? I can value gold to some extent and compare say gold to the quantity of money that is floating around the world, to the wealth increase, and to the monetary base increase, to the credit increase, and so forth and so on, and to the production costs. So I have an idea of where gold should be.”

See also:

Steve St. Angelo:   Institutional buying – The coming silver game changer

Pater Tenebrarum:  Gold is dead they say, but price action improves

Seeking Alpha:  The GLD ETF just grew legs to run further

Gold Silver Worlds:  Gold coin demand exploding in Europe & China on gold’s price lows

Coin Update:  Silver Eagle bullion allocation to drop next week

Mineweb:  Lawrence Williams – Are gold and silver prices ‘manipulated’, or not?

CEO Buys Into Bitcoin, but Buys Gold

Posted by on December 30th 2013 in CFTC, China, Federal Reserve, General Economy, Gold, JPMorgan, Media, Monetary Policy, Short Sellers, Silver, Wall Street | Be the first to comment!

GoldVBitcoin

As USA Gold’s Michael Kosares presents “The Gold Owner’s Guide to 2014,” the gold-owning CEO of Overstock.com explains why he’s buying into bitcoin, if not buying it. Following last week’s announcement by the online retailer that it will begin accepting bitcoin in 2014, CEO Patrick Byrne was asked by Fortune if he owns any bitcoins, “No. I own gold….A lot,” he said, adding, “Let’s just say enough that if zombies walked the Earth I will have enough gold that me and mine are taken care of.”

After explaining the financial reasons for Overstock.com accepting bitcoin, Byrne said “the philosophical reason” is because “I am from the Austrian School of Economics, which means we’re the guys who hate fiat money. The long-run value of all fiat money is zero. If you believe in limited government, you want to have a monetary system that is based on something where no government mandarin can just create money with a stroke of a pen. Gold is a solution, we’re not going to bring back the gold standard any time soon. We’re not going to get rid of the Federal Reserve any time soon, so bitcoin is a step in the right direction.”

See also:

SafeHaven:  John Browne – Bitcoin takes on gold

SilverSeekSilver to hit new highs as the quality of analysis falls to new lows

Zero Hedge:  The new new great game: Geography, energy, the dollar & gold

Koos Jansen:  Chinese gold rush has been in an upward trend in recent weeks

Doug Noland:  Credit Bubble Bulletin- 2013 in review

GATA:  Great interview with Jim Rickards covers Fed, economic decline, and gold