Articles related to report
 
Stewart Thomson - Graceland Update
Gold: Texbook Pullback In Play
Gold’s recent rally from the $1268 area lows has stalled, and the reasons for that are both fundamental and technical. This is the daily gold chart. Gold fell about $100 from the $1362 area highs as seasonally soft Chinese buying was accompanied by a collapse in Indian demand. That collapse was caused by the “Know Your Client” rule imposed by the government on gold jewellery purchases. The price decline was exacerbated by the “Golden Week” holiday in China. Also, the Chinese government chop
Wednesday, October 18, 2017
Rory Hall - Sprott Money
China and Russia: Full Steam Ahead Towards a Cashless Society - Rory Hall
We reported back in November 2016 – Cashless World: 1 out of 3 People Never Use Cash – fewer and fewer people understand the importance of using cash to protect themselves from an overarching government warlord. At the time, China’s use of digitized currency was growing at about 40% per annum. This means millions of people each year freely hand over their cash and opt to use their cell phone, online currency transfers or a plastic debit/credit card to make 100% of their purchases. We see t
Wednesday, October 18, 2017
Keith Weiner - Monetary Metals
Falling Productivity of Debt
Last week, we discussed the ongoing fall of dividend, and especially earnings, yields. This Report is not a stock letter, and we make no stock market predictions. We talk about this phenomenon to make a different point. The discount rate has fallen to a very low level indeed. Discount in stocks is how you assess the present-day value of earnings to occur in the future. For example, if the discount rate is 10%, then a dollar of earnings per share at Acme Piping next year is worth $0.90 today. At
Wednesday, October 18, 2017
Chris Powell - GATA
Leonid Bershidsky: Authoritarian cryptocurrencies are coming
With Russia and China both embracing the idea of sovereign cryptocurrencies, it's time to ask a simple question: Why is a technology threatening to decentralize money so attractive to highly centralized, authoritarian regimes? Last weekend Argumenti i Fakti, a pro-government newspaper, quoted Russian Communication Minister Nikolai Nikiforov as saying President Vladimir Putin had ordered the swift launching of a "crypto-ruble." According to the report, Nikiforov said the currency would use "Russi
Wednesday, October 18, 2017
Chris Powell - GATA
Gold options trading begins in India
* * * MCX Launches Commodity Options Trading with Gold on Dhanteras From The Times of India, Mumbai Monday, October 17, 2017 NEW DELHI -- Finance minister Arun Jaitley today launched an options contract in gold on the Multi Commodity Exchange (MCX) on the auspicious occasion of Dhanteras. Options are an instrument that give the buyer a right to buy or sell at a present price on a future date. They are of two types: calls (right to buy) and puts (right to sell). According to market experts, optio
Wednesday, October 18, 2017
Chris Powell - GATA
Time to sell? Goldman Sachs says gold is better than bitcoin as money
Gold wins out over cryptocurrencies when assessed on the majority of the key characteristics of money, according to Goldman Sachs Group Inc., which adds that fear and wealth are the core drivers of bullion. "Precious metals remain a relevant asset class in modern portfolios, despite their lack of yield," analysts including Jeffrey Currie and Michael Hinds wrote. "They are neither a historic accident or a relic." Looking at properties such as durability and intrinsic value, they are still relevan
Wednesday, October 18, 2017
Chris Powell - GATA
China proposes to buy 5 percent of Saudi Aramco directly, sources tell Reuters
China is offering to buy up to 5 percent of Saudi Aramco directly, sources said, a move that could give Saudi Arabia the flexibility to consider various options for its plan to float the world's biggest oil producer on the stock market. Chinese state-owned oil companies PetroChina and Sinopec have written to Saudi Aramco in recent weeks to express an interest in a direct deal, industry sources told Reuters. The companies are part of a state-run consortium including China's sovereign wealth fund,
Wednesday, October 18, 2017
Chris Powell - GATA
Ronan Manly: Neck and neck -- Russian and Chinese official gold reserves
Gold researcher Ronan Manly today wonders whether in coming months China will let Russia overtake it in officially disclosed gold reserves. Manly acknowledges that the gold reserves of both countries probably exceed what they report. Manly's commentary is headlined "Neck and Neck: Russian and Chinese Official Gold Reserves" and it's posted at Bullion Star here: https://www.bullionstar.com/blogs/ronan-manly/neck-neck-russian-chinese-...
Wednesday, October 18, 2017
Chris Powell - GATA
Russia's 'cryptorubles' won't be very crypto at all
* * * Russia to issue 'cryptoruble' By Jon Buck The Coin Telegraph Sunday, October 15, 2017 Russian President Vladimir Putin has officially stated that Russia will issue its own "cryptoruble." He spoke at a closed-door meeting in Moscow, according to local news sources. The news broke through Minister of Communications Nikolay Nikiforov. According to that official, the state-issued cryptocurrency cannot be mined and will be issued, controlled, and maintained only by the authorities. The cryptoru
Wednesday, October 18, 2017
Chris Powell - GATA
Koos Jansen: The gold-backed oil-yuan futures contract myth
Gold researcher and Chinese gold market expert Koos Jansen today argues that the Nikkei Asian Review's September 1 report asserting that China is planning an oil futures contract somehow "backed" by gold -- https://asia.nikkei.com/Markets/Commodities/China-sees-new-world-order-w... -- is full of holes. Jansen writes: "China hasn't announced anything but an oil-yuan futures contract. Gold has nothing to do with it. "Yuan can technically be spent on gold at the Shanghai Gold Exchange but gold in
Wednesday, October 18, 2017
Chris Powell - GATA
London's gold crown is slipping
London is losing its Midas touch. New rules from regulators, on top of uncertainties over the U.K.'s future relationship with the European Union, are denting the city's position as the biggest center for gold trading in the world. The changes threaten to push up costs, a key competitive advantage of London's over-the-counter market. Even before the regulations come in, the average net daily volume of gold settled by London Precious Metals Clearing Ltd. fell 12 percent in two months to 18.5 milli
Wednesday, October 18, 2017
Chris Powell - GATA
Global warming uncovers biggest Canadian gold deposit
Miners could not even see Canada's biggest gold deposit until a glacier receded and uncovered what lay beneath, according to one mining executive with operations in northern British Columbia. Rudi Fronk, CEO of gold explorer Seabridge Gold, told Kitco News that the company acquired the KSM project back in June 2000 from Placer Dome, which had spent approximately $25 million at KSM, focusing on the Kerr and Suphurets deposits that were visible from the surface. But one area the previous owner ign
Wednesday, October 18, 2017
Bullion Vault
Gold Prices Subdued Despite Re-emerged Geopolitical Tensions and Indian Festivals
GOLD PRICES extended their fall on Tuesday morning in London as the Dollar continued to rise amid speculation off potential new Fed chief and continuing geopolitical tensions in the Middle East and the Korean peninsula, writes Steffen Grosshauser at BullionVault. Gold slid to $1288 after touching a 3-week high in the previous session before falling through the key level of $1300 per ounce. Silver tracked gold and dropped to $17.08 per ounce after it had already started fa
Tuesday, October 17, 2017
Ronan Manly - Bullion Star
  Neck and Neck: Russian and Chinese Official Gold Reserves 
Official gold reserve updates from the Russian and Chinese central banks are probably one of the more closely watched metrics in the gold world. After the US, Germany, Italy and France, the sovereign gold holdings of China and Russia are the world’s 5th and 6th largest. And with the gold reserves ‘official figures’ of the US, Germany, Italy and France being essentially static, the only numbers worth watching are those of China and Russia. The Russian Federation’s central bank, the Bank of Russia
Tuesday, October 17, 2017
Nathan Lewis - New World Economics
  The Silliness of the Bretton Woods Years
We’re continuing our look into One Nation Under Gold (2017), by James Ledbetter. October 2, 2017: One Nation Under Gold (2017), by James Ledbetter Ledbetter glided quickly over the period from 1914 to 1931, taking up the story again in earnest with the British devaluation of 1931 and, especially, the U.S. devaluation of 1933. This was treated with some interesting detail. However, Ledbetter made almost no mention of the fact that the U.S. returned to gold at the beginning of 1934 at $35/oz., and
Monday, October 16, 2017
Phoenix Capital - Gains Pains & Capital
Zimbabwe Inflates, Again…
In November 2008, Zimbabwe experienced the second highest recorded inflation rate in history, and with that, it entered the Hanke-Krus World Hyperinflation Table. That’s when the annual inflation rate reached a peak of 89.7 sextillion (10^21) percent (see table below). At this point, prices were doubling every 24.7 hours. During Zimbabwe’s hyperinflation episode (2007-2008), the Reserve Bank of Zim
Sunday, October 15, 2017
Chris Powell - GATA
Is Britain ready to go cashless? UK heads toward abolishing physical money
The replacement of the forgery-prone old 1-pound coin, supposed to be fully implemented from tomorrow night, has sparked fresh speculation about how rapidly Britain is heading toward a new epoch in the history of spending -- the outright abolition of all physical cash. A report published this week puts Britain second in Europe and third in the world in its readiness to "go cashless." Only Canada and Sweden are closer than Britain to abandoning notes and coins, the report found. The data was ba
Saturday, October 14, 2017
John Butler - Goldmoney
Common commodity misconceptions 
Commodities are the most basic economic goods, providing essential inputs into progressively more complex goods at advanced stages of production. Yet the economic mainstream generally fails to understand commodities, treating them as distinct from the processes whereby they are created and the processes they subsequently enable, when in fact they are an integral part of a dynamic, complex, adaptive economic system. A correct understanding of commodities is essential if we are to understand what
Saturday, October 14, 2017
Adam Hamilton - Zealllc
Gold Miners’ Q3’17 Preview
With the third quarter’s earnings season now underway, the gold miners will soon join in and report their latest results.  No data is more highly anticipated by investors, for good reason.  Quarterly reports dispel the dense fogs of herd sentiment that usually obscure gold stocks, revealing their operations’ underlying fundamental realities.  Q3’17’s upcoming results are likely to prove quite bullish for this neglected sector. Four times a year publicly-traded
Friday, October 13, 2017
Przemyslaw Radomski CFA - SunshineProfits
Yuan and Gold
In the previous editions of the Market Overview, we have already analyzed the relationship between gold and some major world currencies, such as the U.S. dollar, the euro, or the Japanese yen. But what is the link between the Chinese yuan (officially: renminbi) and the yellow metal? Let’s check it out. Chart 1: The USD/CNY exchange rate (red line, right axis) and the price of gold (yellow line, left axis, London P.M. Fix) from January 1981 to September 2017. As one can see in the chart above,
Friday, October 13, 2017
12345678910...