It’s been awhile since we made an addition to the Hall of Shame, but Reuters just made the cut. It an epic hit piece on gold released over the weekend, the intro begins:Gold: Storeable, durable, trade-able, and best of all, wearable, but now that you’ve slumped to your lowest price in 30 years, here’s a look at the new safe havens around the world.

While gold is off nearly $600 from its highs over $1900 set in late 2011, it hasn’t even traded to levels seen 3 years ago, much less 30!
Epic blunder by Reuters, or simply massive MOPE against gold they hoped knowledgeable investors wouldn’t pick up on? 
You be the judge…

Our favorite PM bear Jeffrey Christian of the CPM Group is back on BNN.
Christian told the BNN viewers he expects gold to trade in a range from $1450 to $1750 in 2013, and that silver will trade in a sustained downtrend, claiming that silver demand is weak both from an industrial and an investment standpoint
While silver is in fact up approximately 18% year to date, Christian chose to compare silver’s average price in 2012 with the average price of 2011, and claimed that the metal is down 15% year to date.

Christian capped off his outlook by claiming that he expects silver to outperform gold to the downside in 2013, due to enormous surpluses of the metal.

With this week’s reports that Germany repatriated 1,000 tons of its gold reserves from the Bank of England between 2000-01, and is repatriating 150 tons of its gold reserves from the NY Fed over the next 3 years, clearly the awake participants have realized the music stopped long ago, and are grabbing their physical gold chairs. 

It is now inevitable that an avalanche of central banks, hedge funds, and wealthy investors worldwide will begin to emulate Venezuela and Germany and request physical delivery of their unallocated (rehypothecated) ‘gold’.  

In an amazingly weak and futile attempt to stem the inevitable onslaught of delivery and repatriation requests, CNBC’s senior editor John Carney has released an editorial claiming that it matters not whether the gold held at the NY Fed and the BOE is filled with tungsten, has been leased or swapped, or that it even exists- all that matters is the Fed’s bookkeeping ledger that states the gold is there

CNN Money has released a special recommending retirees avoid investing their retirement funds in gold, which is ‘far too volatile‘.
CNN says ‘gold isn’t a place to put money you can’t afford to take a loss on‘ and concludes by stating ‘Bottom line- we can’t wholeheartedly recommend gold for your retirement savings.  If you really feel that you must put some of your retirement savings into gold, make it a small bet‘.

So let’s get this straight: holding physical wealth is a ‘bet’, but purchasing government, state, and municipal bonds ahead of the looming fiscal cliff is a sound investment decision?

Liberal WashingtonPost blogger Ezra Klein who earned himself a spot in SD’s Hall of Shame in January when he bashed gold stating that the metals is worthless because not only can you not eat it, but you also cannot build your house with it or use it as ammunition, is back at it again.

Commenting on the Republican Party’s announcement last week of a Gold Commission to look into the return of a gold standard in the US, Klein states that the policy isA Clown Idea, Bro‘.

Actually we happen to agree that a gold standard is ‘a clown idea, bro‘, but not for the reasons Klein has in mind.  What we actually need is not a gold standard, but the return a bi-metallic gold AND SILVER standard.

As you might guess, Klein has a different reason for calling a return to a gold standard ‘a clown idea.  

The BNN invited the CPM Group’s Jeffrey Christian yesterday to attempt to explain last Friday’s $60 move UP in gold- which Christian states the violent move was due to standing buy orders rather than short covering.

When asked what is the biggest risk to being long gold now (likely the biggest soft-ball question the shill has ever been lobbed), Christian responds:
‘That the price of gold may fall. We’ve seen the gold price bounce of $1530 three times now. If the $1530 level is breached, perhaps during the period of June, July, August, you will see a cascade of sell orders come in, targeting $1140.’