Gold News

Gold Flows East – China, India Import Massive Quantities of Gold from Switzerland

– Singapore, India and China continue to import staggering volumes of gold from the West – U.K. exports of bullion to Switzerland increase 6 fold to a very large 97 tonnes – Gold exports from Switzerland to both China and India doubled in March – Shanghai Gold Exchange (SGE) becoming most important centre for physical […]

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Election ‘Chaos’ In UK Could Trigger ‘Lehman Moment’ For Pound

– UK economy a ‏’timebomb’ and will explode after election – Albert Edwards – Telegraph warns of “Lehman Moment” stemming from possible election chaos – Currency traders view pound as being particularly vulnerable – Latest data shows UK poised to slip into deflation for the first time since 1960 – Polls place Labour and Tories […]

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Middle East a Powder Keg as Saudi Bombing of Yemen Resumes

– Saudi operation in Yemen enters new phase as U.S. and Iranian Navies gather in the Gulf of Aden – Saudi’s blame Houthi rebels and Iran for Saudi bombardment of Yemen, supported by US – Chinese President Xi calls Saudi King Salman urging speedy resolution to crisis, Chinese media take neutral stance – Russian media […]

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China’s Stealth Gold Reserves To Quadruple as IMF Seek Answers

– Enter the Dragon – China Stealthily Accumulated Massive Gold Hoard – IMF Seek Answers On China’s Mysterious Gold Reserves according to Bloomberg – Major demand issue and bullish support for gold rarely covered in mainstream – China may disclose its gold reserves by October in a bid to have the Yuan included in SDR […]

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Currency Wars Back As Russia Buys One Million Ounces of Gold in March

– Russia buys one million ounces and increases gold reserves by another 2.6% in March – Russia sees gold as important monetary and strategic asset in stealth currency wars – Large purchase by Russia who normally buy some 300,000 ounces a month – Russian gold reserves, at nearly 40 million ounces, are now fifth largest […]

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Greek Debt Crisis Coming To Head – Contagion?

– Greece Rapidly Running Out Of Cash – Soon Must Fold To Troika Or Default – IMF Rebuff Greek Suggestion To Delay Repayments – ECB’s Draghi Warns Potential “Grexit” Puts EU In “Uncharted Waters” – Despite Threats, Greece Remains Defiant, Won’t “Budge On Red Lines” – ECB Considering A “Second Currency” For Greece The Greek […]

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Gold In Dollars Has “Hallmarks Of Market That’s Bottoming”

MARKET UPDATE Today’s AM LBMA Gold Price was USD 1,204.55, EUR 1,113.83 and GBP 801.86 per ounce. Yesterday’s AM LBMA Gold Price was USD 1,204.60, EUR 1,131.19 and GBP 811.40 per ounce. Gold fell 0.29 percent or $3.50 and closed at $1,199.00 an ounce on yesterday, while silver rose 0.18 percent or $0.03 closing at […]

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U.S. And Global Property Bubble Fears Mount

– “Renewed global property bubble” warned of by Financial Times – Research company MSCI says returns on property last year averaged 9.9% globally – “Best performance” since 2007 and fifth consecutive annual rise – Rents have not increased in line with asset appreciation – Speculators moving into more risky peripheral markets around the major hubs […]

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Martin Armstrong – Gold Bullion To “Max Out At $5,000 Per Ounce”

– Fall 2015 turning point – civil unrest and riots globally says forecaster Armstrong – Fed have to raise rates – due to pressure from congress and media – By 2020 the cost of servicing U.S. debt will outpace defence spending – European banks will collapse and “blood in the streets” – Higher rates will […]

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Greece Out of Funds by Month End – Default and Drachma Imminent?

– Greek government to withhold IMF payments according to the FT – Prime Minister Tsipras denies preparing for default according to Reuters – Government funds to run out by end of month – Default would likely lead to “Grexit” and return to drachma – EU may not withstand uncertainty surrounding break-up of monetary union – […]

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Safety Deposit Box Heist in London Reminder of Need For Insurance and Top Level Security

– One week on and police appear no nearer to catching those responsible – Crime only seems more audacious with every new detail that emerges – CCTV has given tantalising glimpse of the six men who went into vaults – Many victims of Hatton Garden robbery had all their wealth uninsured in safe deposit boxes […]

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Positives For Gold – Negative and Rising Interest Rates

– Negative Interest Rates and Rising Interest Rates Positive For Gold – HSBC suggests negative rates may drive customers out of digital and into holding paper cash – ZIRP and NIRP very positive for gold – Rising U.S. rates not negative for gold due to emergence of China, India, Middle East and EMs – When […]

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Bank Deposits No Longer Guaranteed By Austrian Government

– Austria will remove state guarantee of bank deposits – Austrian deposit plan given go ahead by the EU – Banks to pay into a deposit insurance fund over 10 years – Fund will then be valued at a grossly inadequate €1.5 billion – New bail-in legislation agreed by EU two years ago – Depositors […]

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U.S. Hegemony and Dollar Threatened By New Chinese Bank

– Chinese Success in Attracting Major Western Countries to New Bank Marks Beginning of New Era – Diverse members include UK, Israel, Germany, Australia and Russia and Iran – Demonstrates the degree to which U.S. global influence is declining – U.S. needs to reform its approach to IMF and World Bank system if it to […]

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‘Chaos’ If UK Leaves EU‏ – Blair Warns of BREXIT

– Ex-Prime Minister warns uncertainty would hit UK economy and cause ‘chaos’ – ‘BREXIT’ would cause the “most intense period of instability” since WW2 – Seeks to portray Tory policy as disingenuous and cynically putting economy at risk – Uncertainty caused would have negative consequences for British economy and sterling Tony Blair has entered into […]

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“Faith Many People Have In Gold Is Rising As Instability Increases”

Inflation fears have caused a surge in Russian demand for gold jewellery Currency depreciation and falling wages weighing on average Russians Classified ad websites booming as Russians try to raise cash Ruble has fallen more than 35% against gold in recent months Ruble today … other fiat currencies tomorrow Gold in Russian Ruble – 1 […]

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Gold Flat In Quarter In Dollars But 11% and 5% Higher In Euro and Pounds

Gold flat in quarter in dollars but 11% and 5% higher in euro and sterling Gold essentially flat with fall of just $2 or 0.0017% in dollar terms Euro was the worst performing major currency in Q1  Gold one of strongest currencies after silver, dollar and Swiss franc Silver surges 6.5% in dollars and 19% […]

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$100 Trillion Global Bond Bubble Poses “Systemic Risk” To Financial System

Global bond bubble poses systemic risk to financial system FT warns that a June rate hike could put fixed-income funds under severe pressure Fed’s Bullard warns of “dire consequences” of developing asset price bubbles UK fund managers worried about “inflated value of bonds” Regulators talk tough but have wavered since 2011 Mutual fund markets have […]

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‘Peak Gold’ in 2015? – Goldman Sachs Research Warns of Peak Gold Production

Goldman warns that peak gold may happen in 2015 New report says there are only “20 years of known mineable reserves of gold” Discoveries of new sources of gold production peaked in 1995 despite major bull market  Production lags new finds in 20 year cycle – Indicates 2015 may be year of peak gold production […]

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Risk of ‘World War’ between NATO and Russia on Ukraine as Yemen Bombed

– World sleep walking from ‘Cold War’ to ‘Hot War’ and new World War – U.S. resolution to supply Ukraine with lethal weaponry passed – Russia warns such moves would “explode the whole situation” – Minsk agreement remains intact – little justification for escalation and ignoring EU allies – US continues to act as only […]

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