Gold Market News

April 17, 2014

Gold prices end lower on upbeat U.S economic data and safe-haven appeal. U.S. stocks higher as traders cheered upbeat earnings reports. Gold last traded at $1,293 an ounce. Silver at $19.60 an ounce.

China Doesn't Need Much Gold To Create a Gold-Based Dollar Alternative- Forbes--4.17.14
Gold-based currency may not be popular in the U.S., but it is quite popular in other places. Both China and Russia are clearly making moves in that direction.

China Gold Demand Rising 25% by 2017 as Buyers Get Wealthier - Bloomberg--4.14.14
Gold demand in China will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council. Consumer demand is expected to expand to at least 1,350 metric tons by 2017, according to the report.

Gold Bears Wager Wrong Again as Fed Talk Favors Bulls - Bloomberg--4.14.14
The release of the latest Fed minutes extended the rally in bullion. Speculators misjudged prices in three of the past four weeks. Gold futures climbed 1.2 percent last week, extending this year's rally to 9.7 percent.

Palladium Rises to 32-Month High on Ukraine Turmoil; Gold Climbs - BusinessWeek--4.14.14
Gold and Palladium rose as escalating tensions in Ukraine fueled concern that sanctions will restrict supply from Russia. According to European officials, the government in Moscow is stocking separatist unrest in eastern Ukraine, and weighed a third round of measures against Russia.

Survey Participants See Higher Gold Prices Next Week--4.11.14
Gold prices are expected to rise next week as a majority of participants in the Kitco News Gold Survey forecast that the metal will build on the gains from early April. So far this week gold has rose $16.

The Screaming Fundamentals For Owning Gold-
According to the author, various factors contribute to the belief that gold is one investment that he is confident will perform well over the next 10 or 20 years.

Gold drops 3% on month, up nearly 7% on quarter - Market Watch--3.31.14
Gold prices ended March lower but finished the first quarter of 2014 nearly 7% highers. One market expert stated a period of consolidation for precious metals is likely, but once the rising costs of production catch up with the metals' falling prices, they will form a base and eventually begin moving higher again.

Is Chinese gold demand really falling? Probably not. - Mineweb--3.31.14
The media has been reporting that Chinese gold demand may be slipping. Chinese demand may be down a little so far this year, but it is holding up overall at historically high levels.

Gold Touches Five-Week Low But The Gold Bugs Say It's Still The Best Hedge Against Emerging Market Volatility- Forbes--3.25.14
Better-than-expected U.S. economic data sent gold tumbling to its lowest level in over a month. However, bulls are unconvinced that gold's rebound is over and are insisting that the yellow metal will remain as one of the best hedged against volatility abroad throughout the year.

James Rickards: Gold Can Reach $7,000-$9,000 Within Five Years- Money News--3.24.14
James Rickards, portfolio manager at West Shore Funds, sees gold rising to $7,000 to $9,000 an ounce in the next three to five years. According to Rickards, fundamentals will push gold higher and Rickards is also expecting a crash in the stock market.

Don't write off gold just yet: Jim Rickards- Yahoo Finance--3.24.14
Last Friday gold finished the week with its biggest weekly decline in three months and continues its fall on Monday. Expert Jim Rickards is predicting long-term gold prices to hit $7,000 to $9,000 an ounce in the next three to five years.

Top 10 nations stockpiling gold- USA Today--3.22.14
Last year, global gold demand hit 3,756 tonnes with bar and coin demand surging 28% year-over-year. The biggest hoarders of the metal are actually some of the most advanced nations in the world.

Gold: The Trend Is Your Friend, Until Proven Otherwise - Kitco--3.21.14
The U.S. dollar index has been virtually unchanged since the beginning of the year. Currently, gold is rallying i a near and medium term uptrend, while the dollar index is trapped in a multi-month neutral range.

Gold is beating nearly every investment this year - Market Watch--3.21.14
After a drop of 28% in 2013, analysts were not expecting much from gold this year. Some big banks were even forcasting average 2014 prices below $1,300 an ounce. However, so far this year the yellow metal has outperformed U.S. stocks, bonds, emerging markets and the dollar.

Silver imports soar 180% in India - Mineweb--3.20.14
Gold imports may have fell last year in India, but silver imports rose to a new high in 2013. India imported around 5,500 tonnes of silver, a 180% increase from the year prior.

Gold to continue moving from lower left to upper right – Gartman- Mineweb--3.20.14
Market expert Dennis Gartman is currently very positive on the likely overall direction of gold. Gartman believes gold is quietly moving from the "lower left to upper right" and believes it will continue.

Why gold is setting up for a vicious rally- Yahoo! Finance--3.18.14
Due to political uncertainty in countries all over the world, gold has hit its highest price in more than six months. Some experts say the rally in gold prices is sustainable, depending on what happens in the FOMC meeting this week.

Why Is Gold Crushing the Stock Market This Year? - Daily Finance--3.18.14
Gold has surprised most with a 15% gain so far in 2014. So far in 2014, several events have helped support the metal. After the huge drop in 2013, many investors came into the market as bargain hunters.

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