Gold Market News

November 21, 2014

Gold up over $20 on overnight news out of China and Europe. U.S. stocks open up on the stimulus move by the global central bank. Gold last traded at $1204 an ounce. Silver at $16.52 an ounce.

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.

Silver price tumble triggers global scramble for coins, bars - CNBC--11.5.14
The recent tumble in silver prices has triggered a global scramble by consumers to purchase silver coins and bars. Retailers in Asia and United States have even reported that they were struggling to get supplies to meet the demand of consumers.

Is China Hoarding Gold to Challenge the U.S. Dollar? - Wall Street Cheat Sheet--11.3.14
It is believed that the People's Bank of China is purchasing gold to diversify its reserve holdings. Some market participants believe China is building up its gold reserves to challenge the U.S. dollar, which is currently the world's reserve currency.

German Precious Metal Dealers Report Huge Run on Silver Coins - Gold Reporter--11.3.14
Precious metals dealers in Germany are dealing with a sharp increase in demand for gold and silver due to the latest plunge in gold and silver prices. According to one dealer, up to 80% of their regular customers are taking advantage of the drop in prices to build up more positions.

Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold" - Zero Hedge--10.29.14
Former Fed Chair Alan Greenspan says the Fed's bond-buying program has fell short of its goals. He doesn't believe the Fed can end easy-money policies in a trouble-free manner and says gold is a good place to put money in these days.

Greenspan:'Price of Gold Will Rise'- Money News-- 10.29.14
According to former Federal Reserve Chair Alan Greenspan, "the gold standard is not possible in a welfare state." A government in debt has an incentive to debase the value of its debt through currency devaluation or otherwise. Greenspan expects the price of gold to be "much higher" in five years.

Russia Buys Most Gold for Reserves Since Financial Crisis of ’98 - Bloomberg--10.29.14
Russia boosted gold reserves by the most since defaulting on local debt in 1998. Russia expanded their reserves by 37.2 metric tons in September, according to data on the IMF's website.

China Gold Imports Rise to Five-Month High Before Holiday Sales - Bloomberg--10.27.14
China's gold imports in Hong Kong rose to the highest in five months, according to September's numbers. This comes as retailers and fabricatos boosted purchases ahead of a holiday sales season.

Large gold nugget found in Butte County- Action News Now-10.21.14
A five pound gold nugget worth a quarter of a million dollars was found earlier this week on Butte County public land earlier this summer. This nugget will be unveiled to the public at the San Francisco Fall Antiques Show.

First Poll Shows 'Yes' Side has Upper Hand Ahead Of Swiss Gold Referendum- Forbes--10.22.14
A slim majority of Swiss citizens said they would vote yes to force Swiss National Bank to increase and hold on to their gold reserves. At the end of November, Swiss citizens will go to the polls and vote on the subject.

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