We regret to inform readers that the IF’s Bob Chapman passed away yesterday 6/4/12, losing his battle with Stage 4 Pancreatic Cancer.
The gold and silver community will miss Bob’s presence and strong support of investors protecting their wealth with precious metals. [Read more...]
Submitted by SD Contributor SRSrocco
IT LOOKS LIKE WE ARE READY FOR A NICE MOVE IN GOLD & SILVER…
I have been following Gene Arensberg for years. His two charts below give us a good indicator that a bottom in close at hand, and a nice move higher is in the cards. Again, its not the managed money, or speculative longs that control the market, but the COMMERCIALS.
The MANAGED MONEY SHORTS have given us a trend that shows the following…. as the managed money shorts reach a high peak in contracts, the price of gold and silver hit a bottom. [Read more...]
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- JAPANESE FINANCE MINISTER AZUMI SAYS G7 WILL NOT ISSUE A JOINT STATEMENT
- AZUMI: G7 DID NOT DISCUSS GREECE LEAVING THE EURO
- USDX POPS TO 83 ON THE (LACK OF) NEWS [Read more...]
Global gold demand continues to surprise to the upside – especially sizeable demand from the Middle East and China. Confirmation of continuing huge demand in China came yesterday with data showing that Hong Kong shipped 101,768 kilograms of gold to mainland China in April, up 62% on the month – marking the second-highest monthly exports ever. While demand from India continues it has fallen from the record levels recently but demand from other Asian countries is robust with reports of demand in Thailand, Vietnam, Malaysia and Indonesia. A new and potentially significant source of demand is that of demand from Iran. Iran imported a massive $1.2 billion worth of precious metals from Turkey in April alone. Turkish exports of gold, precious metals, pearls and coins to Iran rose to $1.2 billion in April from a tiny $7,500 a year earlier, according to figures released by the state statistics institute in Ankara yesterday. This is a massive increase in demand and suggests that there may be official involvement in the imports from the Central Bank of Iran. [Read more...]
Apparently Jon Nadler changed his name to Jack Hough over the weekend.
We’re placing this one directly into the Hall of Shame.
The WSJ has elevated its gold bashing rhetoric to new unseen heights. We must be closer to collapse that even we believed.
Quotes from the MOPE piece bashing gold:
Gold defies efforts to calculate its worth—or even to describe how it behaves as an investment. That means there isn’t a clear reason to invest in it.
If you must own some gold to sleep better, stick with a multivitamin approach: A little bit won’t hurt. A lot can prove toxic.
Gold lost money for 20 years
Treasury bonds are the real safe haven
Gold suffers from a multiple personality disorder
How much is gold really worth? Gold doesn’t generate any cash, it costs something to store it!
For investors who have to have some gold exposure, forget Krugerrands, buy your wife some expensive jewelry [Read more...]
The Post-It-Note shuffle continued Friday, as HSBC saw 737,000 ounces of silver withdrawn, and Scotia Mocatta reported a deposit of 597,000 ounces into eligible vaults.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 6/4/12 [Read more...]
Reuters has just reported that the G7 will hold emergency euro-zone talks Tuesday regarding Spain.
The sovereign debt crisis is rapidly beginning strongly resemble Lehman Brothers circa Sept- 2008.
It appears the s*** may be inches from the fan.
What do you think the G7 response will be? It will be to Cntl + P, and do it to infinity. [Read more...]
Eagan Jones, the ratings firm that has roiled European markets over the past several weeks with Spanish & Italian downgrades, has just downgraded the UK from AA to AA-, Outlook NEGATIVE (projected A+).
In typical ratings agency style, the downgrade comes curing the first day of a 2-day London bank holiday.
In other news, Warren Buffet and Mr. Munger recommend you exchange your toxic physical gold and silver in order to stock up on Gilts, the supreme safe haven. [Read more...]
China imported a record 103.6o tons of gold from Hong Kong into the mainland in April.
China’s gold imports are now up a mind-blowing 782% YOY for the first 4 months of 2012 vs Jan-April 2011. [Read more...]
Gold’s counter-intuitive capping in the face of an escalating world-wide debt and derivatives crisis can only persist so long before free market forces overtake central bank/ cartel suppression efforts.
Eric Sprott, CEO of Sprott Asset Management, said the recent surge in gold is overdue given the unsustainable leverage among financial institutions and the severe bank run Spain is facing. [Read more...]