Articles related to Saudi Arabia
 
Alasdair Macleod - Finance and Eco.
Oil for gold – the real story
Following an article in the Nikkei Asia Review, which reported China will shortly introduce an oil futures contract priced in yuan, there has been some confusion about what it means. The article pointed out that in combination with existing gold futures priced in yuan, an oil exporter to China contracting to accept yuan could use these two futures contracts to take delivery of physical gold in payment for oil.I was quoted in that article as follows:"It is a mechanism which is likely to appeal to
Sunday, October 15, 2017
Andy Hoffman - Miles Franklin
Print till it Dies
The US Dollar has had a wonderful run in its life time. Not too many fiat currencies have had the ability to sustain its usage for as long as this mighty experiment has and all who have reported on this instrument of trade are pretty much pointing to the same outcome that it can’t last much longer. Today, the US Dollar trade sits at 93.55 down 8.6 points in the early morning on this Columbus Day. Not too long ago the dollar broke thru a multiyear downside target of 91.88 which originally happene
Wednesday, October 11, 2017
Egon von Greyerz - Matterhorn AM
10 FACTORS TO PROPEL GOLD 10 FOLD
Inflation is coming and it will have a major effect on the world economy and financial markets. This is one of the factors that will drive gold to levels which few can imagine today. Later in this piece, I am discussing 10 Factors which will make gold surge. No fear Markets are expressing no fear and seem very comfortable at or near all-time tops. There is no concern that stocks are massively overvalued or that bond rates are at historical lows and only have one way to go. Nor is anyone worried
Monday, October 9, 2017
Jeff Clark - Goldsilver
Another Potential Game Changer for Gold Supply: Chinese Oil Imports Convertible to Gold
There are clear supply pressures coming to the gold market, so the last thing it needed was a new source of demand. But that’s exactly what it’s about to get, and as you’ll see, it could potentially push supply into a strained predicament. If this new development catches on it could lead to some fireworks in the gold market.This source of demand comes from China’s announcement that oil exporters to China will accept yuan as payment. This is normally done in dollars (hence known as the petrodolla
Monday, October 2, 2017
Mark O'Byrne - gold.ie
China Catalyst To Send Gold Over $10,000 Per Ounce?
Jim Rickards is on record forecasting $10,000 gold. But is China about to provide the catalyst to send gold even higher? And by how much? Today, we fare forth in the spirit of speculation… follow facts down strange roads… and arrive at a destination stranger still… China — the world’s largest oil importer — struck lightning through international markets recently. According to the Nikkei Asian Review, China has plans to buy imported oil with yuan instead of dollars. Exporters could then exchange
Saturday, September 30, 2017
John Browne - Euro Pacific Capital
A New Challenge to the Dollar
In a move that was little noticed outside of the financial world, China announced the creation of an oil futures contract (open to international traders) that will be denominated in Yuan and convertible into gold. This move provides the first official linkage of oil to gold, and more importantly a linkage between the Chinese currency and gold. While the contract volumes that will be traded on this new platform will certainly be minuscule in comparison to those in the dominant markets of New York
Thursday, September 28, 2017
Hugo Salinas Price - Plata.com
  China, oil for gold and the Prospects for Gold 
The Chinese have announced that they have perfected a scheme, to be launched formally in the market by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for the oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be "sourced" i.e. "purchased" outside of China, for the oil exporters. Thus, the oil exporters' Yuan wi
Wednesday, September 27, 2017
Chris Powell - GATA
Hugo Salinas Price: If China links oil to gold, the world will change
If China really offers to pay for oil in gold, returning gold to the international payments system, it will change all currency values, Hugo Salinas Price of the Mexican Civic Association for Silver writes today. Eight years ago fund manager and author Jim Rickards made a similar prediction about Russia's ability to change the system by demanding gold as payment for its oil and gas exports: http://www.gata.org/node/8787 Of course demanding gold for oil is exactly what the United States persuade
Tuesday, September 26, 2017
Hugo Salinas Price - Plata.com
  Prospects for Gold II
In my previous article, "My Views Regarding Prospects for Gold", published on September 21, I addressed the consequences of the Chinese scheme "to be launched formally by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be "sourced", i.e. "purchased" outside of China, for the oil ex
Tuesday, September 26, 2017
Mac Slavo - ShtfPlan
Venezuela Has Officially Abandoned The Petrodollar – Does This Make War With Venezuela More Likely?
This report was originally published by Michael Snyder at The Economic Collapse Venezuela is the 11th largest oil producing country in the entire world, and it has just announced that it is going to stop using the petrodollar. Most Americans don’t even know what the petrodollar is, but for those of you that do understand what I am talking about, this should send a chill up your spine. The petrodollar is one of the key pillars of the global financial system, and it allows us to live a far higher
Sunday, September 17, 2017
Egon von Greyerz - Matterhorn AM
UNPREDEDENTED GLOBAL RISK – NO ONE CARES
“Risk involves the chance an investment’s actual return will differ from the expected return. Risk includes the possibility of losing some or all of the original investment.” (Investopedia) So there we have it. Risk means that you can lose part or all of the investment. Normally valuations take risk into account. But is the world really valuing the following risks accurately: A very risky world Wars North Korea – South Korea – USA – Japan – China – Russia incl. nuclear war Ukraine – USA – Russi
Saturday, September 16, 2017
Alasdair Macleod - Finance and Eco.
Outlook for the dollar price of gold
Now that gold has become overbought on Comex, the price is vulnerable to being trashed, yet again, by the too-big-to-fail banks. It is a familiar operation in gold futures markets, where speculators buying contracts protect themselves with stop-losses.All the TBTF banks need is a pause in the speculator’s buying and a little good news (bad for gold). Ideally, the active contract will be running into maturity, so the speculators are forced to put up or shut up: in other words, sell the contract,
Friday, September 15, 2017
Jan Skoyles - GoldCore
Oil Rich Venezuela Stops Accepting Dollars
President Maduro ‘ Venezuela will create a basket of currencies to free us from the dollar,” Oil traders ordered to stop accepting U.S. dollar in exchange for crude oil Order comes following calls from Russia and China to find alternatives to current reserve system U.S. Dollar accounts for two-thirds of global trade Venezuela has over ten-times more oil than United States Super powers are gradually turning to gold to avoid using world’s main reserve currency Are we seeing the beginning of the en
Thursday, September 14, 2017
Steve St Angelo - SRSRocco Report
THE U.S. PETRO DOLLAR BREAKDOWN CONTINUES: Big Moves In Gold And Silver Ahead
By Steve St. AngeloThe four-decade long monopoly of the U.S. Petro-Dollar as the world’s reserve currency is coming to an end.  Unfortunately, most Americans have no clue that when the Dollar loses its reserve currency status, life will get a lot tougher living in the U.S. of A.  Let’s say, Americans will finally receive “Precious metals religion.”The U.S. Dollar Index fell considerably yesterday and is now down below a key support level.  In early morning trading yesterday, the U.S. Dollar Inde
Thursday, September 14, 2017
Bullion Vault
Gold Price -$30 as UN Korea Sanctions See Stocks Hit Fresh Records, UK Inflation Jumps, Opec Oil Output Falls
GOLD PRICES erased last week's 1.7% gain versus the Dollar on Tuesday in London as the US stock market opened at a new all-time record high following a UN agreement on new sanctions against North Korea over its nuclear weapons tests. Dollar gold prices traded $30 per ounce below Friday's 12-month high of $1356 and major government bond prices also fell, pushing 10-year US yields up towards 3-week highs at 2.17%.
Tuesday, September 12, 2017
Bill Holter
Mutiny “For” The Bounty? 
China recently announced they will trade oil for yuan “backed” by gold. The story has gotten some press (none of it mainstream mind you), and many have questions as to what it really means. While quite complicated as a whole, when you break this down into pieces I believe it is a quite simple and logical end to Bretton Woods. For a background, China has had an exchange open for about a year where gold can be pu
Thursday, September 7, 2017
Chris Powell - GATA
China sees new world order with its own oil benchmark backed by gold
By Damon Evans Nikkei Asian Review, Tokyo Friday, September 1, 2017 https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-w... DENPASAR, Indonesia -- China is expected shortly to launch a crude oil futures contract priced in yuan and convertible into gold in what analysts say could be a game-changer for the industry. The contract could become the most important Asia-based crude oil benchmark, given that China is the world's biggest oil importer. Crude oil is usually priced in re
Tuesday, September 5, 2017
Jan Skoyles - Goldcore
Precious Metals Outperform Markets In August – Gold +4, Silver +5
– All four precious metals outperform markets in August – Gold posts best month since January, up nearly 4% – Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand – S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month – Platinum is best performing metal climbing over 5% – Palladium climbs over 4% thanks to seven year supply squeeze – Fear, uncertainty and political sanctions are amongst biggest drivers for precious metals – Never been a better ti
Friday, September 1, 2017
Alasdair Macleod - Finance and Eco.
Gold – crossing the Rubicon
Gold is challenging the $1300 level for the third time this year. If it breaks upwards out of this consolidation phase convincingly, it could be an important event, signalling a dollar that will continue to weaken.The factors driving the dollar lower are several and disparate. The US economy is sluggish relative to the rest of the world, the rise of Asia from which America is excluded is unstoppable, geopolitics are shifting away from US global dominance, and the end is in sight for monopolistic
Sunday, August 27, 2017
Mark O'Byrne - gold.ie
Gold, Silver Consolidate On Last Weeks Gains, Palladium Surges 36 YTD To 16 Year High
– Gold and silver rise as stocks fall sharply after Barcelona attack – Gold, silver 0.6% higher in week after last weeks 2%, 5% rise – Palladium +36% ytd, breaks out & reaches 16 year high (chart) – Gold to silver ratio falls to mid 75s after silver gains last week – Perfect storm of financial and geopolitical tensions is driving safe haven demand and should see higher prices – Weekly close over $1,300 could see gold quickly test $1,400 – Palladium at 16 year highs today; gold, silver in coming
Friday, August 18, 2017
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