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Most read articles
Mark O'Byrne -
China Moves To Dominate Gold Market With Physical Exchange 
Shanghai Gold Exchange International Board China is slowly moving to dominate the global gold market and it is important to join the dots regarding a few key recent developments in China relating to gold. When the International Board of the Shanghai Gold Exchange (SGE) was launched last Thursday September 18 during an evening trading session, it was notable that the first transactions were put through by a diverse group comprising HSBC, MKS (Switzerland), and the Chinese banks,  ICBC, Bank of Ch
Monday, September 22, 2014
Wolf Richter
OK, I Get It. Things Are Coming Unglued 
As long as major stock indices around the world keep soaring (forget for a moment the carnage in smaller stocks), and as long as bonds trade at near all-time highs, and as long as the yield of dubious government debt is close to zero or below zero so that borrowing has become a profit center for governments and a loss center for investors, as long as we live in this wondrous world, who cares about the global economy? This is a resounding theme. Super-ugly data about Japan’s economy piles up, and
Sunday, September 21, 2014
Darryl Robert Schoon - Survive the Crisis
The Price of Gold and the Art of War, Part I 
If you wait by the river long enough, the bodies of your enemies will float bySun Tzu, The Art of War, Fifth century BCOnly fools and the ideologically impaired believe that today?s capital markets are free. In free markets, prices are determined by supply and demand. In capital markets, supply and demand considerations are subordinated to capitalism?s increasingly dysfunctional monetary menses, i.e. credit flows, emanating from central banks. Of all markets, today?s gold markets are the least f
Thursday, September 11, 2014
Jesse - Le Cafe Américain
  Gold Daily and Silver Weekly Charts - It May Be Protracted, But It Is an Endgame Nonetheless 
One of the more significant things that I have seen so far this year is independent confirmation from a credible source that there is price rigging in the silver markets, and that this knowledge is being suppressed by the mainstream media in the US. You can read about that here. I think the fact, given all the rigging scandals from Madoff to LIBOR, that there are major mainstream publications which will refuse to run an article showing evidence of rigging in the silver markets from a credibl
Saturday, September 27, 2014
Stewart Thomson - Graceland Update
The Golden Kiss
I prefer the ?KIS? motto to the more common ?KISS?. I define it as, ?Keep It Simple?.Simply put, gold bullion is the ultimate asset, but when the price declines, Western investors often become nervous.2.Some investors try to mitigate their worry, by reviewing factors that make gold the ?queen of assets?.That helps, but I think a simple focus on gold demand versus supply is all that is required to own gold without worry.3.In 2009 ? 2010, the fear trade (the W
Tuesday, September 23, 2014
Jeffrey Lewis
Selling the Family Silver 
Purchasing and securing precious metals is easy. It's like stepping out of the river where you can see the mainstream headed for the big waterfall. Figuring out when to jump back in the river and bring it back into the system is a whole other challenge. Some of the basic rules of investing to live by (that go along with cheap options with low downside and infinite upside), include: Return of Investment matters more than Return on Investment.Never forget or ignore the laws of unintended consequen
Saturday, September 27, 2014
Hugo Salinas Price -
Richard Cantillon and Fiat Money 
Richard Cantillon is worth remembering. An Irishman, Cantillon was born in 1680 and died in 1734. He went into banking in Paris and witnessed the rise and fall of John Law’s huge speculative business in all its glory, which ruined France. The business included saving the finances of the French Crown with a mythical investment in Louisiana, combined with the right to issue fiat money which the Regent of France granted to Law’s company. Cantillon was a man of extraordinary intelligence. He detecte
Tuesday, September 23, 2014
Mary Anne & Pamela Aden - Aden Forecast
Strong Dollar Pressures Gold
Gold stayed under pressure this month. And the third quarter is shaping up to be a negative one. So what's going on? This past month, we've seen the U.S. economy improve, which has kept investors running to the stock market. It's also fueling beliefs that higher U.S. interest rates are coming sooner than expected. This has been pushing up the U.S. dollar. And with Europe also needing to continue their stimulus and keep interest rates low, it's adding even more fuel to the stronger doll
Thursday, September 25, 2014
John Rubino - Dollar Collapse
Does Surging Demand For Gold and Silver Coins Signal a Bottom? 
Reports of individuals snapping up near-record numbers of gold and silver coins are coming in from around the world: U.S. Mint American Eagle gold coin sales set to rise sharply in Sept (Reuters) - The U.S. Mint has sold nearly 50,000 ounces of American Eagle gold coins so far in September, almost double its total in August, as a sharp pullback in gold prices and geopolitical tensions boosted interest for physical products from retail investors. With only six busines
Monday, September 29, 2014
Nathan Lewis - New World Economics
"The Fate of Empires," by Sir John Glubb
A friend sent me this lovely piece, which originally appeared as an article in Blackwood's Magazine in 1976. It is brief, but has a lot of wonderful material and interpretation. Glubb was a military man, in the gentlemanly tradition of the British Empire, born in 1897 and commander of the Jordan Arab Legion from 1939 to 1956. After retirement, he published at least seventeen books. I find the point of view here quite wonderful, as it is from a practical man of action
Sunday, September 28, 2014
Jesse - Le Cafe Américain
Mr. Cohan Responds On His Silver Rigging Exposé - Two US National Publications Refused the Story 
This is starting to make more sense. Apparently Mr. Cohan did look at all the relevant information, and decided to write a story about rigging in the silver markets. He has done so before.  It was submitted to at least two US publications which refused to run it. Based on past history, one might assume the two national publications that refused to publish it were on the order of The New York Times, and perhaps Bloomberg News or even possibly Forbes. The actual reasons that they gave fo
Friday, September 26, 2014
Alasdair Macleod - Finance and Eco.
The end of tapering and government funding 
Last year markets behaved nervously on rumours that QE3 would be tapered; this year we have lived with the fact. It turned out that there has been little or no damage to markets, with bond yields at historic lows and equity markets hitting new highs. This contrasts with the ending of QE1 and QE2, which were marked by falls in the S&P 500 Index of 9% and 11.6% respectively. Presumably the introduction of twist followed by QE3 was designed at least in part to return financial assets to a rising pr
Sunday, September 21, 2014
Stewart Thomson - Graceland Update
  Big Al Talks Gold Reval
Graceland Updates By Stewart Thomson1.In America, there is a lot of talk about higher interest rates, and I would argue that most of those fears are already factored into the current price of gold.Janet Yellen has not given any indication that she’s going to embark on a cycle of raising interest rates. 2.The gold-bearish economists said gold would crash, when the taper began.Instead, it rallied, as I predicted it would.If Janet does raise rates, I think gold will rally again, and global stock ma
Tuesday, September 30, 2014
Egon von Greyerz - Matterhorn AM
The Financial Crisis is mainly an Energy problem
THE MATTERHORN INTERVIEW: Maarten van Mourik – September 2014 “The financial crisis is only partly financial but mainly an energy problem” Dutch economist / oil analyst Maarten van Mourik examines in this exclusive interview the link between gold and oil; important taboos in economics; the USA vs. Europe; the dilemma with our energy-driven monetary system; and last but not least the reason why “peak oil will be here, no matter how much of the stuff is in the ground.” By Lars Schall Lars Schall:
Monday, September 29, 2014
Alasdair Macleod - Finance and Eco.
Valuing gold and turkey-farming.
Today's financial markets are built on the sand of unsound currencies. Consequently brokers, banks and investors are wedded to monetary inflation and have lost both the desire and ability to understand gold and properly value it. Furthermore governments and central banks in welfare-driven states see markets themselves as the biggest threat to their successful management of the economy, a threat that needs to be tamed. This is the backdrop to the outlook for the price of gold today and of the for
Friday, September 26, 2014
Nathan Lewis - New World Economics
Japan 2014: "Abenomics" and the Assets of Banks
Once a year, I try to get a better idea of what has been happening in Japan. Plus, I like to continue the narrative I've been building up over time. December 1, 2013: Japan 2013: The Endless Rise of Payroll Taxes May 6, 2012: Japan 2012 November 7, 2010: Japan 2010: Can't Get Out of Their Rut September
Monday, September 22, 2014
Jeffrey Lewis
Truth, Consequences, and Confiscations
I think it's normal to have doubts - especially in rigged markets like this. Stockholm Syndrome creeps in and we begin questioning everything. Commenting on these markets over the last decade, I often wonder how long they can keep it all together. The entire house of cards has stood up much longer than anyone has expected. The next wave of investors will likely go through the almost reflexive reach for derivatives first. New investors, or would be long term holders, simply have an aversion and a
Tuesday, September 30, 2014
Hugo Salinas Price -
The Tribute the World Pays to the Empire 
International monetary reserves set a new high mark early this month: they now amount to a bit more that $12,000,000,000,000 dollars. ($12 trillion dollars, when we calculate the value of all the reserves in dollars. The largest part of reserves is in dollars; the rest is split up into euros, pounds sterling, yen and Swiss francs.) What does this colossal number mean? Reserves measure the quantity of credit which the exporting countries of the world have granted to countries (and the EMU - the E
Thursday, September 18, 2014
Clive Maund
Gold Market Update
The Pope just observed that the situation in the world today amounts to a Third World War ? he?s right and although he didn?t point the finger, we know what it?s all about ? the maintenance and imposition of the dollar as the dominant world currency, by diplomacy or by force as deemed necessary. We will come to these geopolitical considerations later as they of course have huge implications for the dollar and thus for Precious Metals. The Pope just observed that the situation in the world tod
Friday, September 19, 2014
Stewart Thomson - Graceland Update
Gold: Janet & Raj Stoke The Bulls
Graceland Updates By Stewart Thomson1.Gold is the ultimate asset, and I think both the bulls and bears are probably going to learn that fact, the hard way.The gold bears view QE tapering and looming US interest rate hikes, as bearish for gold, and the bulls are sure gold is ready to soar vastly higher.2.One of the features that make an asset ultimate, is price stability.Unlike the bulls and the bears, I predict that gold is going to trade sideways.3.Please click here now. Double-click to enlarge
Tuesday, September 16, 2014
Jesse - Le Cafe Américain
The Divergence Between Debt and Gold 
There is little doubt that gold is 'money' in the de facto, if not official, sense. It has been so for at least two thousands years, if not longer. In a policy regime in which the Western central banks wish to quietly devalue their currencies in concert, it would be awkward to allow gold to speak embarrassing truths. I would like to think that now, unlike ten years ago before almost every market was shown to be manipulated and sometimes on a global scale, that a concerted effort to discredit
Friday, September 19, 2014
Jordan Roy Byrne - The Daily Gold
Bird's Eye View of the Gold Stocks
Since last summer, investing in the mining sector has been akin to riding a mini roller coaster. There have been two huge rallies, two sudden and sharp declines while more than a handful of individual stocks have rebounded over 200% from their lows. Nevertheless, as we noted a few weeks ago the weakness of the metals won out and are dictating the terms. Since we covered the metals in our last missive we wanted to focus soley on the miners. A look at the bear market analog chart as
Saturday, September 20, 2014
Jeffrey Lewis
Finding Zero
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”- Nikola TeslaThe silver market is always one day from panic. The same could be said for the bond market or the dollar. In the age of electronic price discovery and massive reckless monetary Imbalance anything can happen - and it probably will. It will happen whether by virtue of just in time delivery practices of the user or the massive (and very real short) concentration within the large commer
Saturday, September 20, 2014
Julian D. W. Phillips - Gold Forecaster
Of course the Gold Price is manipulated, that's the point! - The "London Gold Pool" - 1961 to 1968 
By the beginning of the 1960s, the U.S.$ 35 = 1 oz. Gold price was becoming more and more difficult to sustain. Gold demand was rising and U.S. Gold reserves were falling, both as a result of the ever increasing trade deficits which the U.S. continued to run with the rest of the world. Shortly after President Kennedy was Inaugurated in January 1961, and to combat this situation, newly-appointed Undersecretary of the Treasury Robert Roosa suggested that the U.S. and Europe
Saturday, September 20, 2014
Michael Pento - Delta Global Advisors
  Why Goldman Sachs is Wrong on Gold 
Wall Street powerhouse Goldman Sachs has recently reiterated its negative view on gold, which it has held for the past year. However, it is now doubling down on this view and advising clients to actually go short the metal. Jeff Currie, head of commodity research at Goldman noted "Our target is really driven by the view that we think that the Fed will ultimately be the dominate force here and put more downward pressure [on prices]". While I am in agreement with Goldman that the Fed wil
Monday, September 15, 2014
Sam Kirtley - Sk Options Trading
  Why ECB QE Is Bearish For Gold Prices 
The recent action by the ECB appears to have caught many gold bulls off guard. A common interpretation of the impact that a potential quantitative easing program would have on gold prices was that it would be very bullish. This argument was based on the concept that money printing is bullish for gold, and that QE1 and QE2 by the Fed triggered major rallies in the yellow metal. Whilst we do not dispute that QE1 and QE2 by the Fed were indeed bullish for gold, we strongly disagreed that the ECB wo
Tuesday, September 16, 2014
James Howard Kunstler
The Era of Bad Feeling 
T here are times when events are in charge, not personalities. The unseen forces that hold the affairs of nations and economies in equilibrium dissolve, particles fly out of the many centers, and things heat up toward criticality. Glance in the rear-view mirror and say goodbye to the Era of Wishful Thinking. This was the time when the USA was inspired by its Master Wish: to be able to keep driving to Wal-Mart forever. Looked at closely, the contemporary idea of Utopia was always a shabby package
Monday, September 15, 2014
Julian D. W. Phillips - Gold Forecaster
Of course the Gold Price is manipulated, that’s the point! 
By Julian D. W. PhillipsThroughout history, there have been a constant flow of schemes to try to manipulate the gold price and gold itself in terms of paper money. These have come from governments, institutions as well as from individuals. The aim has always been to either establish the value of currencies or enhance that value in terms of gold. The first key to this is to ensure that the gold price is made in the paper currency and not the price of the paper currency in gold.At school you proba
Friday, September 05, 2014
Stewart Thomson - Graceland Update
Gold's Transition Zone: Investor Strategy
Graceland Updates By Stewart Thomson1.The QE program created substantial hedge fund interest in gold-related ETFs.Unfortunately, QE never created the inflation the funds had anticipated.2.That’s because commercial banks held the QE money they received, “tight to the chest”, rather than loaning it to businesses and consumers.3.In a nutshell, by enlarging the money supply while GDP was falling, the Fed created deflation.4.So, if the Fed were to shrink the money supply now, or at least reduce its r
Tuesday, September 09, 2014
Michael S. Rozeff - Lew Rockwell
  The US Ambition To Rule the World 
The current hegemonic ambitions of the U.S. government go back to the heavy influence of neoconservative thought that began to be expressed during the Clinton administration. The neocons realized that the U.S. was the sole remaining superpower and they aimed for the U.S. to achieve global hegemony with power as a foundation. Hegemony requires a military component and the U.S. government had it. What is more natural, thought the neocons, than for the U.S. to build up its global hegemony with its
Tuesday, September 16, 2014