Gold Market News

December 19, 2014

Gold prices remain firm on safe-haven buying and bargain hunting. U.S. stocks higher after Fed reassured rate increases will be slow. Gold last traded at $1,197 an ounce. Silver at $16.01 an ounce.

Gold rises 2 pct as Fed takes patient stance on rate hike - CNBC--12.18.14
Gold climbed more than 2 percent after the U.S. Federal Reserve said it would take a patient approach toward raising interest rates. Fed chair Janet Yellen said the Fed was unlikely to hike rate for "at least a couple of meetings."

Signs of Optimism in Gold - Barron's--12.15.14
Many traders appear to be buying gold and the metal sits around near multi-year lows. Bloomberg's Debarati Roy reports that gold net-long positions climbed for the fourth week in a row.

Hedge Funds’ Bullish Gold Bets Defy Goldman Outlook: Commodities - Bloomberg--12.15.14
Hedge funds are the most bullish on gold since August. The net-long position in New York futures and options climbed for the fourth week, the longest stretch of increases since July, according to government data.

Rare 1907 coin designed by Saint-Gaudens going to auction- Yahoo! News--12.12.14
A rare 1907 double eagle $20 coin designed by Augustus SAint-Gaudens could sell for as much as $1.5 million at auction next week. The coin is one of only two with sans serif-edge lettering.

U.S. Silver-Coin Sales Climb to Annual Record as Prices Rebound - Bloomberg--12.9.14
The U.S. Mint has sold a record number of silver coins this year as physical demand grows. The surge in demand prompted the mint to suspend sales in November for more than a week because of a lack of inventory.

Gold surges past $1,200 on global equities rout - Market Watch--12.9.14
Gold jumped almost 3 percent closing the highest since the end of October. The U.S. dollar moved down sharply lower as weak global economic data revived safe haven demand for the metal.

Silver just had its largest intraday move in two years - Market Watch--12.1.14
Silver staged a huge recovery on Monday, climbing 18.7%. Gold also has a dramatic climb jumping 6.9%. These moves suggest a bottom now could be in place for the metals.

Gold rebound coming in 2015: George Gero - CNBC--11.25.14
According to expert George Gero of RBC Capital Markets the bullion trade is set to turn around in 2015. Due to all of the stimulus in Japan, China and Europe, investors are going to see some major changes.

Here Comes France: Right-Wing Leader Marine Le Pen Demands Central Bank Repatriate French Gold - Zero Hedge--11.25.14
France has become the next country who have repatriated, or at least tried to, their gold. In a letter, right-wing leader Marine Le Pen made a list of demands including the repatriation on French soil all of their gold reserves.

Calling a Bottom for Gold - Barron's-11.20.14
Market pundit Peter Boockvar is the latest expert to call for a bottom in gold. According to Boockvar, gold is money and is a contra fiat currency asset in a world where fiat currencies are being created to an extent the word has never seen.

Is China Hoarding Gold to Challenge the U.S. Dollar? - Wall Street Cheat Sheet--11.19.14
In a world filled with fiat currencies, many view gold as a hedge against economic chaos. Some countries believe gold is very important. Formed Fed chair Alan Greenspan notes that China converted a modest part of its foreign exchange reserves into gold.

Why is Putin buying gold? - CNBC--11.18.14
Russia has begun diversifying their reserves by buying massive amounts of gold. A recent report showed that many central banks, including Russia's, have beefed up their gold reserves driven by factors such as the continued diversification away from the U.S. dollar and ongoing geopolitical tensions.

Central banks: The new gold bugs? - Yahoo! Finance--11.18.14
The recent jump in gold prices could be a "quiet signal of people revising expectations of outlook for US policy," according to Simon Derrick, head of the BNY Mellon markets strategy team.

Gold ends near $1,200 on soft dollar; highest since Oct - CNBC--11.18.14
Gold prices settled higher on Tuesday on a weaker U.S. dollar partly due to better-than-expected German economic data. Gold is finding more strength as the U.S. dollar's rally stalls.

At Least 50% Of Your Portfolio Should Be In Gold: NYT Besteller Robert Ringer- Kitco--11.17.14
Robert Ringer, American icon and New York best selling author, says people should buy gold as much as you possibly can because gold is money. He believes gold doesn't change in value, it reflects how much the dollar is worth.

Fed using banks to short gold and silver to protect dollar from effects of QE - Examiner--11.4.14
Dr. Paul Craig Roberts states that the Federal Reserve is using the bullion banks to short the futures market on the Comex with naked paper contracts as a hedge against the dollar collapsing because of quantitative easing done by the U.S. central bank.

Appetite for jewellery boosts India gold demand - WGC - Reuters11.13.14
Indian appetite for gold jumped by more than a third in the last quarter boosted by jewellery demand for the wedding season. The 39 percent jump last quarter is the second highest on record for the quarter.

A Bullish Signal For Gold - Seeking Alpha--11.13.14
For this fifth time in less than two years the 3-month gold forward rate has turned negative. This reflects the "convenience yield" that is the value given by investors to short term availability of gold.

Gold demand still running high, so where’s the turning point? - Mineweb--11.10.14
Gold demand in China for 2014 will definitely be in excess of that for 2012 and the years before. The Chinese gold demand hit 227 tonnes in October while Indian buying also remains strong though their wedding season.

Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001- Zero Hedge--11.6.14
In the past week there has been a massive shortage of precious metals as a result of the tumble in the paper price. Today, the physical metal shortage surged.

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