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| RATIOS & INDEXES |
| Gold / Silver | 63.35 |
| Gold / Oil | 14.14 |
| Dowjones / Gold | 10.98 |
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 | Gold and Silver Market Analysis |  |
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 | Tim Iacono - Iacono Research |
| Why Would the US Need a Gold Market Panic? |
| Here’s an interesting commentary that appeared in Pravda, one of Russia’s leading news sources, asking a question that is infrequently asked here in the U.S. Note that I’ve cleaned up the translation just a bit, where possible, without altering the meaning.
Why are investors sometimes misled? Perhaps, the goal is to further scare and disorient investment funds and individuals so that they quickly get rid of their gold (and earlier – silver) because the metal has allegedly lost its former appeMonday, June 17, 2013 |
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 | Ranting Andy - Miles Franklin |
| Sell In May |
| One of the biggest financial market myths is that of “Sell in May, and Go Away.” Frankly, it doesn’t even suggest prices will go down during the summer; but instead, that they will be lethargic and volume-less whilst CRIMINAL Wall Street bankers vacation in the Hamptons.
Generally speaking, volumes do in fact decline during the summer. However, regarding the potential for material price movementsSunday, June 09, 2013 |
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 | Dan Dontrose - The Fundamental View |
 A 62 millisecond move before the NFP number that led to a sell-off in gold |
| Another case where high frequency trading take the bottom out of markets. Someone got wind of the number before the official release and moved on it. I still can't believe that these trades cannot be tracked to a particular individual or firm.Friday, June 07, 2013 |
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| Tim Iacono - Iacono Research |
Rickards on Roubini on Gold  |
| Here’s investment banker and Currency Wars author Jim Rickards talking with Kitco’s Daniela Cambone about Nouriel Roubini’s gold market eulogy After the Gold Rush.
Like Rickards, I was stunned by Roubini’s first argument as detailed here earlier:
… most of the reasoning is deeply flawed as pointed out in many other commentaries over the last few days. One has only to look at the opening sentence of the first of seven arguments in support of his case to see why:
First, gold prices tend to spikeMonday, June 10, 2013 |
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 | Jesse - Le Café Américain |
| Comex Registered Gold Inventory Continues Its Decline - Fat Tails |
| Comex registered gold levels continued their decline to the sub 1.5 million ounce level.
As you know tomorrow is Non-Farm Payrolls day in the US.
The trading desks typically like to hit gold and silver with a bear raid on a day like that, especially if there is a whiff of QE to come.
There is quite a bit of gold sitting in the eligible category at the Comex. Let's see what it will take to get the owners of that bullion to consider parting with it.
There are 2,950 gold contracts remaininFriday, June 07, 2013 |
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| Ben Traynor - Bullion Vault |
| Precious Metals Bounce, But Rally Seen "Over" as US Fed Tapering Talk Hits Emerging Mark |
| London Gold Market ReportThe GOLD PRICErallied from a 1-week low at $1376 per ounce Monday morning in London, edging back up to $1383 as world stock markets rose.Silver fell within 20¢ of mid-May's 30-month low, before rallying to $21.80 per ounce.Commodity prices fell after weaker-than-expected Chinese industrial data. US Treasury bonds also slipped in price once again, nudging interest rates on 10-year debt up to 2.17%.The gold price "conclusively broke back down through $1400 and stayed thereMonday, June 10, 2013 |
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 | Egon von Greyerz - Matterhorn AM |
| Silver to outperform Gold – von Greyerz |
| Some gold refiners now up to 4 or 5 weeks delayKing World News 6 June 2013
Greyerz: “Eric, the world has no idea what’s going to hit it. The majority of people today in the West are living in debt and have no assets to protect, but for the people with savings and wealth and for the managers of funds, they don’t realize that they have lost 60% to 80% in real terms over the last 13 years.
Not only has cash in the bank gone down by 80% in real terms, which is against gold, but so have stocks, hoFriday, June 07, 2013 |
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 | Chris Powell - GATA |
| Three disastrously false but enduring premises about gold |
| Commentary about gold suffers from a few disastrously false but enduring premises.
One, perpetrated famously two years ago by Federal Reserve Chairman Ben Bernanke, is that central banks hold gold not because it's money but because it is just an "asset" and "tradition":
http://www.youtube.com/watch?v=2Dj9v9s9buk
Bernanke must dearly wish that it were so. But the Bank for International Settlements confirms otherwise, that gold is "a financial instrument":
http://www.gata.org/node/11502
Another diSaturday, June 15, 2013 |
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| Jesse - Le Café Américain |
| Physical vs. Paper: The Shanghai Gold Exchange vs. the COMEX |
| When push comes to shove, the COMEX is only pushing paper.
Weighed, and found wanting.
Shanghai Gold Exchange (SGE)
Weekly Gold Delivery From Vault
The above graph of physical gold delivery out of the Shanghai Gold Exchange (SGE) vaults was prepared by @KoosJansen based on the weekly reports from the Chinese portion of the SGE site. The SGE has confirmed these are deliveries from the vault and the numbers are updated on a weekly basis (each Friday). I will publish the links to the exaSaturday, June 15, 2013 |
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| Jesse - Le Café Américain |
| NAV Premiums of Certain Precious Metal Trusts and Funds - Heart of Darkness |
| The expected bear raid in precious metals occurred as the Non-Farm Payrolls report for May was released.
The report was mixed, although the headline number was somewhat deceptive. I cannot stress enough that the individual monthly numbers have more value for spin and speculation than for real analysis. It is the trends that are important.
Having said that, the headline seasonally adjusted number came in a little on the high side. But that was achieved with an equally significant downward adSunday, June 09, 2013 |
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| Tim Iacono - Iacono Research |
| If You Dig It, They Will Pay |
| A long-term look at commodity prices from this item at The Economist shows big price gains are more often found for goods that must be dug out of the ground rather than grown.
Global population growth has slowed in recent years and technological advances have boosted crop production, mitigating many of the fears from decades ago that the world wouldn’t be able to feed itself. For more on population growth, see this item at Wikipedia:
The world population has experienced continuous growth sinceSaturday, June 15, 2013 |
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 | Mark O'Byrne - gold.ie |
| Banks Rig $4.7 Trillion A Day Currency Markets To Profit Off Clients |
| Today’s AM fix was USD 1,377.25, EUR 1,036.77 and GBP 878.40 per ounce.
Yesterday’s AM fix was USD 1,369.50, EUR 1,031.10 and GBP 880.93 per ounce.
Gold fell $6.70 or 0.48% yesterday to $1,378.70/oz and silver slid to $21.49 and finished down 1.19%.
Cross Currency Table – (Bloomberg)
Gold prices are mixed today and while flat in US dollars are lower in Aussie dollars and higher in Japanese yen which has taken another pummelling on foreign exchange markets.
The world’s biggest banks have been maWednesday, June 12, 2013 |
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| Mark O'Byrne - gold.ie |
| Gold In Euros, Yen And Aussie Dollars May Outperform |
| Today’s AM fix was USD 1,369.50, EUR 1,031.10 and GBP 880.93 per ounce.
Yesterday’s AM fix was USD 1,376.75, EUR 1,041.89 and GBP 887.37 per ounce.
Gold rose $6.70 or 0.49% yesterday to $1,385.40/oz and silver surged to a high of $22.083 and finished with a gain of 1.58%.
Gold has fallen another 1% today despite weakness in Asian and European stock markets prior to an important decision by the German constitutional court about the legality of the ECB’s debt monetisation.
Technically, gold looksTuesday, June 11, 2013 |
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| Ben Traynor - Bullion Vault |
| "Investors on the Sidelines" as Gold, Silver End "Week of Nothingness" Flat |
| WHOLESALEgold bullion prices continued to hover near $1380 an ounce Friday, while silver traded either side of $21.80 an ounce and stocks and commodities ticked higher, regaining some of the ground lost this week.Heading into the weekend, gold was trading almost exactly where it started the week by Friday lunchtime in London, with silver also little changed."It has been a week of nothingness and I doubt today will be a lot different," says this morning's bullion note from brokerage Marex SpectroFriday, June 14, 2013 |
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| Mark O'Byrne - gold.ie |
| Gold Demand Extraordinary In Vietnam – Paying $217 Premium Over Spot |
| The Vietnamese Central Bank sold another 25,700 taels (37.5 grams, 1.2 troy ounces) at a gold bar auction on Friday in order to try and satiate the massive public demand for gold in Vietnam.
The Central Bank hopes that the sale of gold into the market will reduce the very high premiums paid by gold buyers in Vietnam, the largest buyer of gold in Southeast Asia after Thailand and one of the largest physical buyers of gold per capita in the world.Monday, June 17, 2013 |
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| Ben Traynor - Bullion Vault |
| "Tug of War" in Gold and Silver, "Blame Bernanke" for Recent Volatility in Markets |
| London Gold Market ReportGOLD PRICES hovered just below $1380 an ounce Wednesday morning in London, with silver trading around $21.80, after the metals failed to break through $1380 and $22 respectively.European stock markets ticked higher by lunchtime - with the exception of Germany's DAX - regaining some of yesterday's losses, which were followed by sell offs in the US and Asia.Commodities ticked higher this morning while US Treasury bond prices fell ahead of an auction of 10-year debt later tWednesday, June 12, 2013 |
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| Mark O'Byrne - gold.ie |
| HSBC’s Respected Steel Says Gold Over $1,600/oz In 2013 |
| Today’s AM fix was USD 1,379.75, EUR 1,035.54 and GBP 882.76 per ounce.
Yesterday’s AM fix was USD 1,386.25, EUR 1,039.71 and GBP 885.33 per ounce.
Gold fell $5.40 or 0.39% yesterday to $1,383.30/oz and silver and finished up 0.18%.
Gold is lower in most currencies today except sterling which has come under pressure.
Gold is lower in most major currencies again this week and very marginally lower in dollar terms – down 0.2% for the week. A lower weekly close would again be bearish technically anFriday, June 14, 2013 |
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| Mark O'Byrne - gold.ie |
| Royal Mint: Demand Surge Continuing In June After Demand Trebled In April |
| Today’s AM fix was USD 1,376.75, EUR 1,041.89 and GBP 887.37 per ounce.
Friday’s AM fix was USD 1,410.00, EUR 1,065.12 and GBP 905.53 per ounce.
Gold fell $33.30 or 2.36% on Friday to $1,378.70/oz and silver slid to a low of $21.56 and finished down 4.89%. Gold was down 0.45% and silver fell 2.75% last week.
Cross Currency Table – (Bloomberg)
Gold is marginally lower in dollars today but has eked out gains in Japanese yen and Australian dollars both of which have fallen. The slightly lower closMonday, June 10, 2013 |
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| Chris Powell - GATA |
| Mining exploration companies must mobilize to survive, new group says |
| Canadian junior mining companies, which do most of the resource exploration in the world, are being strangled by financial regulation and must mobilize to survive, a new organization says.
The organization, the Venture Company Association, says regulatory costs are rising while the mining industry's ability to raise capital is collapsing. The association says that more than 700 mining exploration companies registered in Canada probably cannot survive to the end of the year if they have to meet cFriday, June 14, 2013 |
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 | Toby Connor - Gold Scents |
| Stocks in Dangerous Territory |
| As I alluded to in my previous report both stocks and gold are due to mean revert. Short-term the stock market is getting significantly oversold and if we get a down day tomorrow I would expect some kind of bounce off of the 1600 level. If that bounce fails and we break below last Thursday's low it should confirm that stocks have begun an intermediate degree correction.Since I think there is significant risk that the cyclical bull market that started in 2009 is now topping I would take a break oThursday, June 13, 2013 |
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| Mark O'Byrne - gold.ie |
| U.S. Mint June Silver Coin Sales At 4,651,429 Ounces – Record 2013 Likely |
| Today’s AM fix was USD 1,386.25, EUR 1,039.71 and GBP 885.33 per ounce.
Yesterday’s AM fix was USD 1,377.25, EUR 1,036.77 and GBP 878.40 per ounce.
Gold climbed $10.00 or 0.73% yesterday to $1,388.70/oz and silver surged to $22.012 and finished up 0.37%.
Silver in USD, 5 Year – (Bloomberg)
Silver continues to perform very poorly and is down 28% year to date to make it one of the worst performing commodities in the world and on track for its worst performance since 1984.
At the end of 2012, invThursday, June 13, 2013 |
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| Ben Traynor - Bullion Vault |
| FOMC "The Big Driver for Precious metals this Week", Wall Street Betting Against Silver Price |
| London Gold Market ReportTHE U.S. DOLLAR gold price drifted back below $1390 an ounce Monday morning in London, but remained well within its trading range of the last few weeks, as European stock markets edged higher, with analysts citing Wednesday's Federal Open Market Committee decision on US monetary policy as "the big driver" for this week."On the whole, the market hopes for insightful comments in the course of the next Fed policy meeting...which will affect gold's further development as welMonday, June 17, 2013 |
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 | Gary Tanashian - Biwii |
| QE Taper to T Bond Carry Trade - More Thoughts |
| The following is the opening segment to this week's premium letter, NFTRH 242. The balance of #242 went on to discuss the technical status of US and global stock markets, key commodities, the current status of 'inflation expectations', precious metals and currencies; all in detail.Taper to CarryLast week we introduced the theoretical 'taper to carry' scenario whereby the Federal Reserve would indeed 'have the balls' to begin the end of traditional QE and transition the inflation via a new set ofSaturday, June 01, 2013 |
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 | Mish - Global Economic Analysis |
| Nouriel Roubini Seriously Misguided on Gold, on Equities, on Economic Growth, on Money |
| I just finished reading Nouriel Roubini's seven point analysis on the Bursting of the Gold Bubble in which Roubini's asks and answer the question "Gold skyrocketed to over $1,900 per ounce in the fall of 2011 from $800 in early 2009, but has since collapsed by around 27%. Why?"
I offer a point-by-point rebuttal.
Roubini: First, tail risks are lower. Gold tends to spike when the global economy faces severe economic, financial and geopolitical threats; but, thanks to a variety of policy actionsThursday, June 06, 2013 |
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| Jesse - Le Café Américain |
| Simon Johnson: The Wall Street Takeover and the Next Financial Meltdown |
| Is the crisis over? No
Have we fixed the underlying problems? No
This video is from 2011. The answers remain the same.
TBTF is a government subsidy, it is a cartel, it is a distorting factor on markets.
This is not about economics or the analytics anymore. This is about politics, this is about power, this is about the money.
Simon Johnson is one of the few economists that are making any real sense of what happened, and what therefore is likely to happen next. I find his thoughts quiteThursday, June 06, 2013 |
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 | Rick Ackerman |
| Time to Fade the Raging Bull |
| Although our technically derived target for the Dow is still a very bullish 16800, we wrote here recently that we were keeping one foot out the fire escape. Given yesterday’s display of bravado on Wall Street, however, we’ve now put the other foot out as well. After being down 116 points, the Industrial Average rallied nearly 200 points to end the day 80 points higher, at 15040. We had anticipated the initial weakness with a bearish forecast for Thursday of a 15-point drop in the E-Mini S&P fuFriday, June 07, 2013 |
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 | Mac Slavo - ShtfPlan |
Peak Gold: Demand Will Soar As Global Supplies Dwindle  |
| It’s been said that all of the gold mined throughout the history of mankind could fit into just three Olympic-sized swimming pools.
With rising fuel and labor costs, successful mining operations have been few and far between, simply because there’s very little, if any, easily accessible gold, as well as its close cousin silver, left in the ground. According to Peak Resources, the supply of gold is now so limited that just 1 in 1600 new gold projects ever get off the ground. One of the key reasonThursday, June 06, 2013 |
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| Ben Traynor - Bullion Vault |
| India's Latest Anti-Gold Moves "Won't Be Effective" as European Central Banks Stick, Equ |
| London Gold Market ReportThe WHOLESALE price of goldflipped yet again either side of $1400 on Thursday in what dealers called "choppy" trade ahead of tomorrow's much-anticipated US jobs data for May.Asian stock markets followed Wall Street's overnight loss to finish lower, but European equities rallied as major government bonds held flat.Commodities slipped even as the Dollar fell to new 4-week lows after the Bank of England and the European Central Bank both left monetary policy unchanged at thThursday, June 06, 2013 |
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| Mac Slavo - ShtfPlan |
| The Best Opportunity This Decade: Maximum Gold Profits |
| It should be clear that our economic and monetary systems are wholly unsustainable and will lead to continued impoverishment of the populace through job losses, wage reductions and monetary price inflation. With that in mind consider your specific financial needs, what means you have available to you, and what your financial assets will look like when the next collapse wreaks havoc in the markets.
When it all comes down you must be positioned in assets that will not only store wealth, but buildWednesday, June 05, 2013 |
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 | Jeffrey Nichols - Nichols on Gold |
| Captive Gold |
| For now, gold remains captive to the flow of U.S. and global economic indicators and prospects . . . especially those that may influence Federal Reserve monetary policy.
With the U.S. economy far from a satisfactory and self-sustaining recovery, the news is likely to become increasingly positive for gold — with diminishing expectations of imminent “tapering” (that is scaling back the Fed’s monthly bond-buying program) eventually replaced with talk of additional monetary stimulus of one sort or aWednesday, June 05, 2013 |
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