Gold, Silver & A Major October Surprise

Below is the latest from the gold market. The usual load of good stuff but in particular check out item 4 on October predictions which is very interesting.
Interview Excerpt:“Gold and silver have been real money for centuries and one immutable fact is that every experiment in the history of mankind with the paper currency has ended in ruins with the paper being debased to next to nothing. Voltaire figured this out in 1729 when he said that all paper money seeks is intrinsic wealth, which is zero…

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The gold standard is slowly becoming a mainstream discussion point again. This is in part thanks to recent calls from US Republicans for another congressional “gold commission” to examine …

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“Draghi Day” yesterday was something of an anti-climax as far as precious metals were concerned: though the European Central Bank is now prepared to buy unlimited amounts of troubled …

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Today top trends forecaster Gerald Celente told King World News, “They (central planners) are going to destroy the money, and they are going to do everything to try to keep the gold and silver markets down.” Celente warned about a major “October surprise.” He cautioned, “Anything could happen at any time…

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4:10p ET Monday, September 10, 2012
Dear Friend of GATA and Gold:
GoldMoney founder and GATA consultant James Turk today tells King World News that investors may be waiting for a pullback in gold and silver but the “currency cliff” is so close that there’s a big risk that they won’t get one. Turk adds that while the Federal Reserve thinks it can control inflation by manipulating the public’s expections, reality still gets out of hand…

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Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News.  Fitzwilson, who is founder of The Portola Group, put together one of his greatest pieces ever where he warns, “What we have now are economies that are close to synchronous meltdowns.”

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gold winning the ‘race to debase’

Gene Arensberg’s latest edition of the “Got Gold Report” is posted in the clear and with several good charts it documents the Western central bank “race to debase” currencies and gold’s upward breakout from a consolidation. Arensberg’s commentary is headlined “Euro Close to All-Time Low Purchasing Power Relative to Gold” and it’s posted at the Got Gold Report Internet site here:

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UBS economist doubtful about a return of the Gold Standard.

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Updates News Oct 26 12:41 pm Oct 26th

2:54 Saturday, October 25, 2014 Dear Friend of GATA and Gold: The opportunity to question former Federal Reserve Chairman Alan Greenspan about central bank intervention in the gold market was spectacularly fumbled today during Greenspan's appearance at the New Orleans Investment Conference. Intervie.... More » News Sep 30 4:27 am Sep 30th

By Andrew Hecht:Last week in my article, Gold: A Follow Up - The Prospect for 4-Year Lows, I expressed the view that it is only a matter of time until the price of gold tests crucial support at $1185. A bearish view of gold certainly has stoked a healthy and heated debate on the topic of the future .... More » News Oct 15 10:05 am Oct 15th

On its own hook the FT's "news" story accuses the Swiss gold initiative of "absurdities," mockery the newspaper has yet to hurl against central banks even as they intervene openly in every market and resort to "negative interest rates." Yes, in the FT's view only gold as money can be "absurd." And l.... More » News Mar 12 11:57 am Mar 12th

12:35p ET Tuesday, March 11, 2014 Dear Friend of GATA and Gold: The bull market in stocks is getting pretty old, GoldMoney founder and GATA consultant James Turk tells King World News today, but it well could be accelerated by currency collapse. "To properly judge valuations," Turk says, "stocks sho.... More » News Feb 18 2:44 am Feb 18th

7:34p ET Monday, February 17, 2014 Dear Friend of GATA and Gold: The more CPM Group's Jeffrey Christian calls him a liar, the more you may want to hear from Sprott Asset Management's John Embry, and tonight King World News interviews him and gets him to remark, "There isn't an hour that goes by wher.... More »
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Central Banks and Funds Buying Gold Worldwide

Thailand increases gold holdings by 20%“.

Thailand increased its gold holdings from 2.7 million ounces to 3.2 million ounces in July, says new data from the International Monetary Fund.

The prolific Eric King has another great interview on his website with Eric Sprott, the Chairman and main investment strategist at the eponymous Sprott Asset Management based in Toronto.

His gold fund bought another 6 tonnes of Gold yesterday. Now he is a well known Gold Buyer and investor, but this is a big move by a canny man.

Expect to see more big moves in Gold buying by the key players over the nest few months.

James Turk – “The Gold Train Is Leaving the Station”

It looks like James Turk was right in a recent article on Turk was  commenting as Gold was rising towards $1,260 in European trading and silver was moving towards $20 and he was expecting a some upwards movement from there.

I personally have been hanging back this last week before buying more Gold as I have been expectig a pull back as the Technical Funds sell off, but we may have broken new ground again, with $1250 a distant memory.

Turk’s comments were:

“Friday’s action was confirmation that the pattern has changed.  Yesterday’s action verified that as well, as the dips were bought aggressively, and there is still this strong demand for physical metal at these levels.”

“There is one last thing I would like to say about this pattern and this is why I keep coming back to it. This is exactly the type of trading action you would expect to see before the big breakout.”

“So, I am still expecting that upside explosion in silver as soon as we get above $20.50 to $21.”

“The action in gold is consistent with what is happening in silver, which also confirms it will break into new high ground as well.”

“In fact, gold is already there as we had an all-time record closing high yesterday in New York.”

They commented on a change in the trading habits of both gold and silver. King said:

“Pullbacks are proving to be short and shallow in the metals and then the markets immediately turn higher.  This certainly is aggressive action and as James said, ‘The train is leaving the station’.”

So we could be seeing the next price breakout – watch this space.

Could Gold go to $30,000 per ounce?!?!?

Ben Davies, CEO of Hinde Capital. recently published a document discussing the issues of perceived Gold price fixing, the problems inherent in all fiat currencies and the massive debt obligations of the USA, UK and other G10 nations.  And it gives some staggering potential price figures for gold.

When the gold price was artificially held down in the 1960s to $35, and President Nixon changed the system in 1971, then over the next 8 years the Gold price rose to $850 an ounce. Such a rise now would take the Gold price way over $30,000 an ounce.

Mr Davies is at pains to say he is not ‘forecasting’ such prices but it is an example of what can happen when a price is constrained artificially and then freed to let free market forces influence the price towards a ‘real’ market price.

More info over at:

Marc Faber still bullish on Gold prospects

Marc Faber, editor of the “Gloom, Boom & Doom Report”has told a recent international investor meeting that Gold is still his best investment recommendation for the next 10 years despite its recent gains in the last few years.

Faber told a CPA Association meeting in Abu Dhabi that gold is his asset class of choice for the next 10 years.

In an earlier interview Faber made the very bullish statement that “investors should by some gold, every month, forever.”

Faber said that holding cash and bonds exposes investors to more dangers than holding equities, though he believes that equities are unlikely to make money given coming inflation. This ‘coming inflation’ is one of the big reasons to hold Gold for investors.

He advises long-term term investors to “buy gold and equities, especially globally diversified gold and resource stocks”, and to “invest in emerging and frontier markets”, which he believes have much better growth prospects over the next 20 years than the developed markets.

Mr Faber is a well known and respected anlayst and his views should be considered in portfoloio management .