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| RATIOS & INDEXES |
| Gold / Silver | 61.99 |
| Gold / Oil | 14.77 |
| Dowjones / Gold | 11.04 |
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 | Most read |  |
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 | Chris Powell - GATA |
| Gold deliveries delayed in London, Turk tells King World News |
| GoldMoney founder and GATA consultant James Turk today tells King World News of delivery delays in the London gold market, adding to evidence of strain in the gold market around the world, and predicts that the paper shorts are about to be overrun. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/23_Tu...Friday, May 24, 2013 |
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 | Bron Suchecki - Perth Mint |
 Time to give up on the CFTC  |
| Gene Arensberg has an article out on the COMEX price smash where he concludes that:
"in order for the initial 124 tonne sale to have occurred “legally” it would have had to have been 14 traders, all with zero orders open, all acting simultaneously, all acting independently, in their own self-interest, without colluding with each other to “sell-for-effect” or conspiring to foment a price smash.
In actuality, the chances that there were 14 traders who held zero open orders all acting independFriday, May 24, 2013 |
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 | Stewart Dougherty |
| Fort Knox, Fort Hocks or Fort Shocks: Three United States Gold Scenarios |
| For 72 years, the building at the intersection of Bullion Boulevard and Gold Vault Road in Fort Knox, Kentucky has symbolized the financial strength of the United States of America. The United States Bullion Depository, better known as Fort Knox, is said to contain 147.3 million troy ounces of gold, over half the nation’s total reported gold bullion holdings of 261.5 million troy ounces. The remaining 114 million ounces are said to be stored at the Denver and Philadelphia Mints, the West Point Bullion Depository, and the San Francisco Assay Office. Assuming a price of $1,000 / ounce, the nation’s gold is worth $261.5 billion. If the metal is actually there, it represents the largest sovereign stockpile of gold bullion in the world.Friday, May 24, 2013 |
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 | Peter Schiff - Euro Pacific Capital |
| The Biggest Loser Wins |
| While the world's economies jockey one another for the lead in the currency devaluation derby, it's worth considering the value of the prize they are seeking. They believe a weak currency opens the door to trade dominance, by allowing manufacturers to undercut foreign rivals, and to economic growth, by fighting deflation. On the other side of the coin, they believe a strong currency is an economic albatross that leads to stagnation. But the demonstrable effects of currency strength and weaknessFriday, May 24, 2013 |
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 | Florian Grummes - The Silver GoldSpot |
| Gold and Silver |
| Arguments for lower prices:
In April gold finally broke down from huge descending triangle and out
of 2 year sideways zone. The old support between US$1,520.00 and US$1,540.00
now is massive resistance. It will take more time to regain this level.
Still valid MACD sell signal on monthly chart
Gold still in well defined downtrend
If gold falls below monday´s low around US$1,340.00 we should see
a test of US1,320.00 followed by a break of theFriday, May 24, 2013 |
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 | Julian D. W. Phillips - Gold Forecaster |
| Gold & Silver Market Morning: May 23, 2013 |
| Gold Today - The gold price consolidation is becoming a fierce battle below $1,400 with New York closing around $1,367. But in Asia and particularly London the gold price was lifted above $1,393 to Fix in London's morning at $1,386.00 up $0.75 on yesterday's Fixing and in the euro at ?1,074.919 up ?5.5, while the euro was slightly changed at ?1: $1.2894 down 36 cents against the U.S. dollar.Ahead of New York's opening it stood at $1,389.00 and in the euro at ?1,077.87. Silver Today - Silver closThursday, May 23, 2013 |
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| Chris Powell - GATA |
| David Levenstein: Bullion bank-led casino manipulates gold price -- and everything else |
| The sudden dumping of huge futures contracts for gold on the New York Commodities Exchange is proof of market manipulation by a banking cartel as well as the complicity of the U.S. Commodity Futures Trading Commission, South African gold trader and bullion dealer David Levenstein writes today at MineWeb. His commentary is headlined "Bullion Bank-Led Casino Manipulates Gold Price -- and Everything Else" and it's posted here:
http://www.mineweb.com/mineweb/content/en/mineweb-independent-viewpoint?Thursday, May 23, 2013 |
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| Chris Powell - GATA |
| Gene Arensberg's Got Gold Report: Big silver shorts cover madly |
| Gene Arensberg's latest edition of the Got Gold Report has been posted in video format and it finds the big commercial traders unloading their short positions in silver to the lowest point in 13 years:
http://www.gotgoldreport.com/2013/05/courtesy-release-of-new-video-got-g...Thursday, May 23, 2013 |
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 | Przemyslaw Radomski CFA - SunshineProfits |
| Gold Corrected on Weeks of Misconception |
| Yesterday was a particularly volatile and interesting day on the precious metals market. The sector moved slightly higher, then it soared, stayed high for several minutes and crashed. Stocks did more or less the same and the USD Index did the opposite. The likely reason? Comments from Ben Bernanke who said the Fed could decide to scale back the pace of bond purchases at one of the "next few meetings" if the economic recovery looked set to maintain forward momentum.So, what happened was markets dThursday, May 23, 2013 |
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 | Philippe Herlin - GoldBroker |
| The New Great Wall of China : Gold |
| By Philippe Herlin - Researcher in finance / Contributor to Goldbroker.com
When the crisis hit in 2008, China’s reaction was very communist-like : instead of turning to money printing in the hope that credit and investment would pick up ( which is still the dream of Western central banks), both the central power and the regional ones have launched gigantic infrastructure plans while forcing banks to lend them money. Credit, as a result, has effectively picked up : orders from Beijing! While cThursday, May 23, 2013 |
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 | Stewart Thomson - Graceland Update |
 Buy Gold On QE Exit News |
| 1.After the 1929 crash, the US Treasury & the Fed workedtogether.They revalued gold, and begana program of quantitative easing (QE).2.Eight years later, in 1937, the Fed started tightening credit byraising interest rates, and America plunged back into economic depression.3.After the 2008 crash, America entered into a very severerecession, and the Fed began a new quantitative easing program.4.Recently, the mainstream media and bank economists have been quiteemphatic that the economic recovery isThursday, May 23, 2013 |
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 | Goldmoney |
| Fed exit strategy: the mother of all head fakes |
| “Exit strategy” is the current buzz phrase among market watchers, with the dollar rallying in recent days and weeks on expectations that all is well with the US economy again, and that the Fed can now start thinking about ways of selling assets and “exiting” from its current commitment to perpetual quantitative easing.
Given this growing narrative and the fact that US stocks continue to race higher, gold and silver remain under pressure – with a “sell the rallies” mentality continuing to predThursday, May 23, 2013 |
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| Julian D. W. Phillips - Gold Forecaster |
| Gold's Pivotal Role - The Yuan Sees Freer Convertibility this Year! (Part 1) |
| China has signaled it is going to propose plans this year to allow freer flows of the Yuan both in and out of the nation as part of measures to loosen control over the Yuan and interest rates. It was expected that full and free convertibility after 2022, but it's clear that the program is moving at an accelerated pace. How far this next phase of convertibility will go has to be seen at the end of this year.It's understandable that the process will be gingerly handled so as to dovetail into the cThursday, May 23, 2013 |
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 | Jordan Roy Byrne - The Daily Gold |
| 6 Reasons Why Gold Stocks will Begin a Huge Rally |
| 1. Huge rallies begin from these conditions
Below is the NYSE Gold Miners Index which is tracked by the GDX ETF. Look
at the RSI. Not only did it reach a multi-decade low but it has remained oversold
far longer than during the comparable periods. In the four previous periods,
the market rebounded suddenly and strongly in percentage terms. Meanwhile,
the bullish percent index, a breath indicator is more oversold than in 2008.
We plot the indicator with a 10-week moving average thatWednesday, May 22, 2013 |
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 | Jeb Handwerger - GoldStockTrades |
| Gold, Silver and Miners: Powerful Reversal Off Multiyear Support |
| I wrote nearly a month ago that "The
Worse Things Were For The Mining Sector, The Better They Will Get". This
was after the first downward plunge in gold (GLD) and silver (SLV) in April
due to the Goldman short.
Now four weeks later, gold, silver and the miners (GDX) tested that April
low and even fell below it only to reverse higher than the previous day's selling.
Across the precious metals board, we witnessed bullish engulfing patterns.
We witnessed a similar reversal backWednesday, May 22, 2013 |
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| Julian D. W. Phillips - Gold Forecaster |
| Gold & Silver Market Morning: May 21, 2013 |
| Gold Today - The gold price did anabrupt turnaround in New York to close at $1,395 up $41. In Asia and earlyLondon the gold price was pulled back to Fix in London's morning at $1,378.75up $25 and in the euro at ?1,070.209 up ?18, while the euro was slightlychanged at ?1: $1.2883.Ahead of New York'sopening it stood at $1,380.40 and in the euro at ?1,074.32. Silver Today - Silver closed at$22.17, in New York yesterday. Ahead of New York's opening silver stood at $22.43.Gold(very short-term)The golTuesday, May 21, 2013 |
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 | Ranting Andy - Miles Franklin |
| Another Gold Take Down With A Twist |
| Gold and silver reversed some of their losses yesterday. The silver supply is still tight. Andy Hoffman spoke to Kerry Lutz of the Financial Survival Network about another credit downgrade by Moody’s, US debt, and the metals markets.
Andy Hoffman – Another Gold Take Down With A TwistTuesday, May 21, 2013 |
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 | Mark O'Byrne - gold.ie |
| Silver Recoups Sharp Loss And Rises 2% On Record Volume |
| Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.
Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce.
Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher.
Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we may have seen the bottom or are close to a bottom.
Spot Silver Tuesday, May 21, 2013 |
|
 | Mish - Global Economic Analysis |
| What Is California Attempting to Hide? |
| An interesting article on a recently passed law in California came my way today regarding Obamacare secrecy in California.
Please consider California exchange granted secrecy.
A California law that created an agency to oversee national health care reforms granted it broad authority to conceal spending on the contractors that will perform most of its functions, potentially shielding the public from seeing how hundreds of millions of dollars are spent.
The degree of secrecy afforded Covered CaTuesday, May 21, 2013 |
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| Bron Suchecki - Perth Mint |
| Precious metal memes |
| I'm having a debate with The Daily Bell over their assertion that "physical gold and its delivery will cost you up toward US$2,000" in the comments to this article of theirs. Readers of this blog I think will find it interesting, as well as the diversion into questions about the Germany repatriation and central bank transparency. I also questioned their view that the London Fix was not a free market in the comments to this article.
The thing about The Daily Bell is that they track and look behiTuesday, May 21, 2013 |
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 | Mike Maloney - Goldsilver |
| The Silver Squeeze Infographic |
| The Silver Squeeze Infographic is courtesy of Sean Aranda, and team at The Austrian Insder.Tuesday, May 21, 2013 |
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| Mish - Global Economic Analysis |
| Merkel Pins Cameron in Corner; Will Cameron Bury His Head in the Sand, Pretending to Not Notice? |
| UK prime minister, David Cameron, promised to hold a referendum on whether Great Britain should remain in the EU, but only on two conditions. The first condition, that Cameron be re-elected as prime minister is iffy enough.
The second condition, that Cameron renegotiate the Lisbon Treaty, I said would never happen. And it won't.
German Chancellor Angela Merkel sealed the fate on that score as Berlin plans to streamline EU but avoid wholesale treaty change.
Berlin is drawing up plans for treaTuesday, May 21, 2013 |
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 | Martin Masse - Le Quebecois libre |
| Phone-y competition in Canada's wireless sector |
| Nobody should be surprised to have learned in recent days that three
of Canada’s small wireless companies – Wind Mobile, Mobilicity and
Public Mobile – are now for sale and may soon disappear as
independent players. The federal government’s attempts at
artificially creating more competition in this market were never
based on a realistic assessment of the Canadian market, or on sound
economic theory.
It all started in 2008, when Ottawa set aside for new wireless
Tuesday, May 21, 2013 |
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| Ranting Andy - Miles Franklin |
| Total Cartel CONTROL Over Media & Markets |
| Andy Hoffman speaks with the SGT Report about the IRS scandal, Benghazi, and the manipulation of the markets and media:
Total Cartel CONTROL Over Media & Markets — Andy HoffmanMonday, May 20, 2013 |
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 | Alasdair Macleod - Finance and Eco. |
| Bank balances and gold |
| There has been a growing shift in favour of assets relative to bank deposits. This was initially encouraged by zero interest rates, but more recently there is little doubt that Cyprus’s bail-in has accelerated the trend. This explains the bull markets in bonds and equities, which conveniently underwrites the entire banking system. It is however too early to offer evidence of falling deposit balances held by non-banks and the general public because depositors as a whole have been remarkably complMonday, May 20, 2013 |
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 | John Rubino - Dollar Collapse |
| When Hedge Funds Go Short, Gold Goes Up |
| Bloomberg is reporting on the rising number of hedge funds shorting gold:
Gold
Bear Bets Reach Record as Soros Cuts Holdings
Hedge-fund managers are making the biggest ever bet against gold as billionaire
George Soros sold holdings last quarter and Goldman Sachs Group Inc. predicted
more declines after the longest slump in four years.
The funds and other large speculators held 74,432 so-called short contracts
on May 14, U.S. Commodity Futures Trading Commission data shMonday, May 20, 2013 |
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| Ranting Andy - Miles Franklin |
| $100 Silver, For Starters |
| Read the Friday Afternoon Wrap-Up for 5/17/2013 and the Monday Morning Commentary for 5/20/2013
Steve St. Angelo – a/k/a “SRSRocco”; is BY FAR, the best “nuts and bolts” mining analyst out there. Utilizing actual research – as I did as a buy- and sell-side equity analyst from 1996-2005 – he puts together the best forensic arguments for PM undervaluation in our world. And I’m not talking about the vast undervaluation caused by non-stop Cartel SUPPRESSION; but instead, calculations of the marginMonday, May 20, 2013 |
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| Mish - Global Economic Analysis |
| Folly of Preserving the Euro at All Costs; Should France Lead Breakup of Euro? |
| The Local, a website with German news in English reports Economists warn against German euro exit.
“Even a believable rumour that Germany would exit the euro would result in a massive capital flight from the countries of southern Europe to Germany.”
The southern European banking system would then collapse, bringing down entire economies with them, Schmieding said.
The consequences for Germany would be severe. The crisis countries could no longer pay back their debt and Germany’s important exSunday, May 19, 2013 |
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| John Rubino - Dollar Collapse |
| Velocity of Money and the Crack-Up Boom |
| Based on both recent history and mainstream economic theory the past few years
should not have been possible. When you cut interest rates to near-zero, run
deficits of 10% of GDP and buy up every government bond in sight with newly
created currency, you get a boom, end of story. That's just the way capitalism
works.
But this time was different. After four years of QE and ZIRP and all the other
easy-money acronyms, we entered the month of May with Europe in a deepening
recessionSunday, May 19, 2013 |
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