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There is fool's gold, -pyrite-, and there is fool's gold, -gold owned by idiots willling to trade it for worthless dollars
Jarold Kintz  
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Bron Suchecki - Perth Mint
205,000 or 205 tonnes of gold, why commas matter
Karen Hudes latest refers to "The UBS is holding 205,000 MT under the Global Debt Facility for the benefit of humankind" and she provides a link to a letter from UBS and associated gold certificates as proof of the figure. The letter says that "... volume of 205,000 Metric Tons issued last June 15, 1977 is unrestricted for collateral ..." Unfortunately, given that the letter and certificates are issued by UBS, a Swiss firm, and that Switzerland is one of the countries that uses commas as a dec
Monday, July 28, 2014
Bill Downey - Commodity Trader
Gold should be setting up the summer low during July 25 to July 30th
INTRA-DAY NEWSLETTER ~ July 25 2014 Oil Spikes, Stocks Dump As Van Rompuy Gives Green Light To Extend Russian Sanctions To Oil Submitted by Tyler Durden on 07/25/2014 - 11:27 Curious why Brent just spiked by over 1% (and the S&P500 took a leg lower)? The reason is headlines from Reuters citing Europe's unellected dictator, Van Rompuy who has said that sanctions should include Oil technology. However, in a hilarious twist, the unellected muppet of Europe's insolvent banks, hopes to get his sanc
Friday, July 25, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Corrective Action
Precious metals drifted lower over the week in quiet trading. The bears took comfort in the lack of a positive price reaction to political news from the Ukraine and Gaza, and from economic surveys released in the US which disappointed analysts looking for signs of economic growth. Even the IMF downgraded its forecasts for the US economy, and the 10-year treasury yield fell back to 2.46%, having rallied up to 2.65% from the May low at 2.41%. This is shown in the chart below. If the 2.4% level is
Friday, July 25, 2014
Mark O'Byrne -
Gold Lockdown Until Options Expiry Monday - New Singapore Gold Contract Threatens Manipulation
Today’s AM fix was USD 1,292.50, EUR 961.18 and GBP 761.64 per ounce. Yesterday’s AM fix was USD 1,300.00, EUR  964.68 and GBP 763.76 per ounce. Gold fell $12.50 or 0.96% yesterday to $1,292.40/oz and silver slid $0.55 or 2.63% to $20.37/oz. Singapore - Asia’s Growing Gold Hub Silver for immediate delivery rose 0.5% to $20.50 an ounce in London. Platinum added 0.3% to $1,472 an ounce. Palladium rose 0.4% to $874.20 an ounce. It remains near the 13-year high of $889.75 reached on July 17. Gold h
Friday, July 25, 2014
Bill Downey - Commodity Trader
Gold cycle turn low point favored between July 24th - July 30th
INTRA-DAY NEWSLETTER ~ July 25 2014 Initial Jobless Claims Plunge to Jan 2006 Lows, Government Warns Of "Seasonal Volatility" Submitted by Tyler Durden on 07/24/2014 - 08:37 So much for the idea of 'slack' in the economy, initial jobless claims just plunged 19k week-over-week to 284k (vs 307k expected) - the lowest since Jan 2006 (which was the lowest print since May 2000). This is the biggest beat of expectations in over 2 years. Continuing claims fell modestly. Let's not go popping the champa
Thursday, July 24, 2014
Bill Downey - Commodity Trader
Gold Dumped (pre-CPI) and Pumped (post-CPI)
INTRA-DAY NEWSLETTER ~ July 22 2014 Gold Dumped (Pre-CPI) And Pumped (Post-CPI) Submitted by Tyler Durden on 07/22/2014 - 08:49 9 minutes before CPI data hit, gold futures were slammed lower on notable volume ($390 million). Then as CPI hit and "noise" was evidently not going away, gold prices surged over $12 to $1316 obn very heavy volume... Gold is moving inversely with the USD (which is flying around) as stock rally (?) and longer-term bonds rally/flatten. CPI Remains Stubbornly High as Ye
Tuesday, July 22, 2014
Mark O'Byrne -
Gaza And Ukraine: Pawns In A Deadly, Grotesque Geopolitical Game 
Today’s AM fix was USD 1,307.00, EUR 969.44 and GBP 765.76 per ounce. Yesterday’s AM fix was USD 1,312.75, EUR 970.75 and GBP 768.72 per ounce. Gold rose $2.40 or 0.18% on yesterday to $1,312.90/oz and silver climbed $0.09 or0.43% to $20.94/oz. Gold prices are flat in London this morning after gold in Singapore fell from $1,312/oz to $1,305/oz. Futures trading volumes were low and 16% below the average for the past 100 days for this time of day. Increased risk appetite as seen in rising stock
Tuesday, July 22, 2014
Jesse - Le Cafe Américain
Nanex: The Market Is Rigged, With Details
Oh no, this could not possibly be correct, say the trolls, shills, revolving door careerists, media carnival barkers, and conmen's assistants. This does not only apply to very large orders in excess of 10,000 shares.  I have seen the same type of activity in smaller markets with orders of only a few thousand shares.  Anyone who has Level 2 access can see it if they look closely enough. These pampered princes of Wall Street are steadily degrading the markets, and distorting and taxing the real
Thursday, July 17, 2014
Mark O'Byrne -
Gold Manipulation? - $1.3 Billion Paper Gold Dump As ETF And Coin Demand Rise
Today’s AM fix was USD 1,312.00, EUR 965.20 and GBP 765.51 per ounce. Yesterday’s AM fix was USD 1,321.25, EUR 969.87 and GBP 771.53 per ounce. Gold dropped $31.00 or 2.32% yesterday to $1,306.70/oz and silver slid $0.50 or 2.38% to $20.92/oz. Gold In U.S. Dollars - 2 Days (Thomson Reuters) Gold rebounded 0.4% in Asian and European trading from a one month low on speculation yesterdays sharp sell off in the paper market, the biggest price fall this year, may lead to  increased ETF and physical
Tuesday, July 15, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Poised on a Knife's Edge
The World Cup final is on Sunday, and the punters have Germany and Argentina as fairly even odds with a bit of an edge to the Germans.  I would call it pretty even, especially since it is only one game, and a typically low scoring one at that which can turn on a few events and an emotional tide. Speaking of too close to call, gold and silver turned in a satisfactory week's performance, and are on the verge of breakouts. We have been here before. Let's see if they can find firmer ground and s
Sunday, July 13, 2014
Chris Powell - GATA
Gene Arensberg: Big new silver shorts have been misidentified, squeeze is likely 
The Got Gold Report's Gene Arensberg tonight digs into the latest silver futures trading position data and concludes that most of short positions recently added belong not to the major bullion banks, as is widely suspected, but to other commercial traders, "swap dealers." Arensberg thinks they have vastly oversold the metal in an attempt to stop its rally and are now vulnerable to a short squeeze. Arensberg's commentary is headlined "Swap Dealers' 'Goal-Line Stand' for Comex Silver Futures in Je
Thursday, July 10, 2014
Chris Powell - GATA
German regulator asks banks, investment houses for data on clients' gold investments
The German financial news Internet site Gold Reporter today reports that Germany's financial regulatory agency has asked German banks and investment houses to provide information about their clients' investments in gold-related securities, particularly derivatives:
Wednesday, July 09, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - The 'Independent Fed' - Deutschland vs Brasilien
Gold and silver were hit by a trailing stop boogie woogie this morning, a half feeble effort to shake out the long who are running their stop loss orders a bit close.  These sorts of things do not bother us because we have an intermediate to longer term investment horizon, right?  lol. Otherwise gold and silver finished largely unchanged on the day. Much more interesting than this lazy Summer trade is the World Cup game in progress, with German
Wednesday, July 09, 2014
Mark O'Byrne -
Europe Seeks Alternative To Dollar Dominance - 70 Year Shift
Today’s AM fix was USD 1,313.25, EUR 965.84 and GBP 765.97 per ounce. Friday’s AM fix was USD 1,321.50, EUR 972.34 and GBP 770.69 per ounce.       The U.S. market was closed on Friday for a national holiday. Friday’s PM fix in London was USD 1,319.25, EUR  970.89 and GBP 769.02 per ounce.       Reserve Currencies In History Gold has fallen from a three month high and bullion for immediate delivery fell 0.5% to $1,314.38 an ounce in London. The metal climbed to $1,332.33 on July 1, the highest p
Monday, July 07, 2014
Mark O'Byrne -
UK MP's Urge FCA To Investigate Gold Fix Manipulation
Today’s AM fix was USD 1,322.50, EUR 968.58 and GBP 771.27 per ounce.      Yesterday’s AM fix was USD  1,326.75, EUR 970.98 and GBP 772.80 per ounce.   Gold climbed $0.01 or 0.13% yesterday to $1,326.90 per ounce and silver rose $0.11 or 0.52% to $21.16 per ounce. Yesterday, the UK's influential Treasury Select Committee met to hear testimony from gold market analysts on the possibility that the London Gold Market Price Fixing mechanism may have been open to widespread abuse by member banks. Ad
Thursday, July 03, 2014
Mark O'Byrne -
US Equity Markets Are Overbought, Gold Looking Solid
Today’s AM fix was USD 1,326.75, EUR 970.98 and GBP 772.80 per ounce. Yesterday’s AM fix was USD  1,325.75, EUR 968.48  and GBP 773.39 per ounce.   Gold fell $1.70 or 0.13% yesterday to $1,326.80 per ounce and silver slipped $0.04 or 0.19% to $21.05 per ounce. US Equity Markets are Overbought, Gold Looking Solid Has the U.S. shot itself in the proverbial foot? Well possibly, short sighted U.S. Sanctions against BNP could spur the end of the U.S. Dollar as a reserve currency. As you may be aware
Wednesday, July 02, 2014
Bill Downey - Commodity Trader
Gold reaching important resistance at 1330-1335 & next at 1342.
June 30, 2014 Europe Gives Bulgaria A Bank System Lifeline As Battle Over "South Stream" Pipeline Heats Up Submitted by Tyler Durden on 06/30/2014 - 13:24 Earlier today Reuters reported that the European Commission said on Monday it had approved a Bulgarian request to extend a credit line of 3.3 billion levs ($2.30 billion) in support of banks that have come under speculative attack. “The Commission concluded that the state aid implied by the provision of the credit line is proportionate and co
Monday, June 30, 2014
Jesse - Le Cafe Américain
Comex Silver Stockpiles at the End of 2Q 2014 - Coins 'N Things 
As you know July is an active month for silver futures contracts at the Comex. On paper at least, the Comex warehouses seem to be well stocked, with two relative newcomers CNT and JPM having built up some significant stockpiles.  I was particularly taken with CNT. I have broken out the registered (deliverable) from the total inventory in the second chart to show that while there is quite a bit of inventory on hand, only a modest portion of that is 'fo
Monday, June 30, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Next Week
Over 300,000 ounces of gold were stopped in contracts for the month on the Comex. But as you can see from the warehouse reports, it really did not go anywhere. The Comex is like a Tussauds Wax Museum tableau of what a market looks like. Non-Farm payrolls will be coming next Thursday as Friday is a national holiday in the States. I include a weekly chart of SLW just to show the nicely formed symmetrical triangle formation. It is a bit neater than the weekly silver chart itself. July is
Saturday, June 28, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Stonewall Silver
Gold was weakly capped all day, but silver was the stonewall again. It went through the option expiration without barely a wobble. There was some stopping of contracts in the gold market again, but precious little activity in the warehouses. There was intraday commentary here. I had received several question from readers who were wondering about the impact of the unwinding of deals in China after the discovery that collateral was missing. It seemed counterintuitive that a lack of an asset i
Thursday, June 26, 2014
Mish - Global Economic Analysis
Truly Inane Bloomberg Analysis On Gold
Bad economic analysis abounds. Some of it is so bad you wonder if the authors understand how any markets work, not just the topic of discussion. For example, please consider Gold Euphoria Won’t Last With Yellen’s Rally Fading, a truly remarkable exercise because it took three Bloomberg writers to produce. Here are some snips, followed by my comments. After the biggest gold slump in three decades left investors heartbroken, they're following Taylor Swift's advice and never, ever getting back
Thursday, June 26, 2014
Chris Powell - GATA
Koos Jansen: Shanghai exchange chief confirms WGC badly underestimates gold demand
Gold researcher and GATA consultant Koos Jansen today reports confirmation from the chairman of the Shanghai Gold Exchange that offtake from the exchange exceeded 2,000 tonnes in 2013, nearly doubling the estimate of Chinese gold demand made by the World Gold Council. Jansen also reports the assertion by the chief of the precious metals department of Industrial and Commercial Bank of China, the world's largest bank, that pricing for gold will shift from the derivatives market to the physical mar
Thursday, June 26, 2014
Jesse - Le Cafe Américain
NAV Premiums of Certain Precious Metal Trusts and Funds - Silver Holds Its Level 
There is little question that a major short interest position in silver that had built up in the first part of this year was taken out and pummeled by the power players in the market.  Gold was also oversold on paper, but not to the extent of silver. Today is a quiet options expiration so far, probably because of this.  The urge to sell silver by going short has been tempered by the beating administered to those who went a bit too far in their antics.  There is some chance that a gut check wi
Wednesday, June 25, 2014
Florian Grummes - The Silver GoldSpot
Gold and Silver
Update 24th of June 2014 Personal note: I will speak at the minesandmoney conference in Mauritius this week, 23-25 June 2014. Contact me if you are going to attend and we can schedule a meeting. Arguments for lower prices: 3-years downtrend: Overall Gold still is in a downtrend. US$1,525.00 remains the line in the sand. Gold will need much more time to break through this heavy resistance. Only a move above US$1,390.00 and especially US$1,430.00 will indica
Wednesday, June 25, 2014
Mark O'Byrne -
Asia's Singapore Aims To Become A Major Global Gold Trading Hub - Launching New Gold Trading Contrac
Today’s AM fix was USD 1,312.00, EUR 964.42 and GBP 773.22 per ounce. Yesterday’s AM fix was USD 1,323.00, EUR 971.44 and GBP 778.51  per ounce.   Gold rose $3 or 0.11% yesterday to $1,317.50 per ounce and silver rose $0.04 or 0.19% to $20.92 per ounce. Singapore is taking steps to become a major international trading hub for gold trading and logistics with the launch in September of a new 25 Kilo bar gold trading contract. With Asian demand set to remain strong into the future Singapore is cap
Wednesday, June 25, 2014
Bill Downey - Commodity Trader
Gold and silver uptrend still intact but odds favor short term peak this week in cycles
INTRA-DAY NEWSLETTER ~ June 24 2014 Consumer Confidence Surges To Highest Since Jan 08; Under-35s At Lowest In 2014 Submitted by Tyler Durden on 06/24/2014 - 10:08 The American consumer has not been as confident as this since January 2008... can you feel the confidence? The biggest driver of this confidence appears to be the spike from 79.7 to 99.5 in the Pacific region's confidence... but plunged in the Mountain and Central regions. Only 26.7% believe stocks can fall from here - near the lowes
Tuesday, June 24, 2014
Mark O'Byrne -
Germany Still Wants Gold Back - Repatriation Campaign Continues
Today’s AM fix was USD 1,323, EUR 971.44 and GBP 778.51 per ounce. Yesterday’s AM fix was USD 1,313.50, EUR 967.02 and GBP 771.51 per ounce. Gold rose $3 or 0.2% yesterday to $1,317.50 per ounce and silver rose 2 cents to $20.88 per ounce. A journalist holds a gold ingot next to a security officer of the German Central Bank, right, in Frankfurt, Germany, Wednesday January 16, 2013 Gold climbed to a two-month high over $1,324/oz in London this morning as tension in Iraq led to a safe haven bid a
Tuesday, June 24, 2014
Mark O'Byrne -
Gold Price Stabilises Above 1,300 As Energy Shock Risk Remains
Today’s AM fix was USD 1,313.50, EUR 967.02 and GBP 771.51 per ounce. Friday’s AM fix was USD 1,310.00, EUR 962.60 and GBP 768.42 per ounce.   Gold fell $8.40 or 0.64% Friday to $1,311.30 per ounce and silver slipped $0.05 or 0.24% to 20.65 per ounce near 3pm EST. Gold and silver were up 3.33% and 6.58% for the week. The speed with which insurgents threatened Iraqi Oil production has stunned many analysts and underscored the fragile nature of energy exports from politically unstable regions. Oil
Monday, June 23, 2014
Chris Powell - GATA
Oklahoma repeals double taxation of monetary gold and silver
By John Stancavage Tulsa World, Tulsa, Oklahoma Sunday, June 22, 2014 Oklahoma has a new law that recognizes gold and silver as legal tender and eliminates the sales tax on buying the two metals. The law came from Senate Bill 862. After reading that document, I still had trouble understanding what the advantages of the new law are for state residents, so I called two of the bill's authors, Rep. Gary Banz, R-Midwest City,
Monday, June 23, 2014
Mark O'Byrne -
Gold and Silver Surge 3.4% and 4.2% - Third Week Of Gains
Today’s AM fix was USD 1,310.00, EUR 962.60 and GBP 768.42 per ounce. Yesterday’s AM fix was USD 1,282.00, EUR 940.23 and GBP 753.14 per ounce.   Gold has surged over $44 and silver over 70 cents to over $1,314 and $20.46 per ounce or 3% and 4.2% respectively. Gold fell marginally on profit taking today after posting its biggest one-day rise in nine months. Gold in Singapore fell 0.5% to $1,313.40 by 2:10 p.m., trimming this week’s advance to 2.9%. Gold prices in London ticked lower initially t
Friday, June 20, 2014