Friday, July 13 2018

Another billionaire says we’re running out of gold

“If I could give one sentence about the gold mining business … it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years. Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down… We’re right at peak gold here.”

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Chinese SGE Gold Withdrawals

SGE withdrawals for June were 140.6 tonnes

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Chinese Gold Reserves

Chinese reserves for June

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Wednesday, July 4 2018

Intraday Averages For Gold/Silver

Intraday averages for June

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Tuesday, July 3 2018

Reflections in a Golden Eye

“Significant increases in inflation will ultimately increase the price of gold. Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection. I view gold as the primary global currency. It is the only currency, along with silver, that does not require a counter-party signature. Gold, however, has always been far more valuable per ounce than silver. No one refuses gold as payment to discharge an obligation. Credit instruments and fiat currency depend on the credit worthiness of a counter-party. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in Asia Minor in 600 BC.”

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Monday, July 2 2018

US Mint Coin Sales

US Mint sales for June

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India Gold Imports

Indian imports for April were 59.8 tonnes

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Saturday, June 30 2018

Transparent Precious Metal Holdings - Gold/Silver

Flows this week

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Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Thursday, June 28 2018

Why Russia and Turkey Are Such Gold Bugs

Their moves out of U.S. debt and into the precious metal could be precursors of a bigger global shift.

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Wednesday, June 27 2018

The Shareholders Gold Council (SGC) - "Just don't mention the Gold Price"

One of the more interesting developments in the gold mining sector at the moment is the impending launch of an investor alliance called the Shareholders Gold Council (SGC) whose objectives focus on reversing the poor shareholder returns and underperformance that has been dogging the sector’s leading gold mining stocks for some time now.

The Shareholders Gold Council, which on paper will have immense research resources and firepower and influence, will not it seems devote any time or resources to questioning anything to do with the gold price and will just take it a a given. This to me is a completely lost opportunity given that there is ample material for analysis in this area, some of which would surprise institutional and hedge fund investors in the gold space if they bothered to look. Much of this material has been documented on this website and elsewhere, such as by GATA.

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Monday, June 25 2018

Switzerland Gold Imports & Exports

Swiss flows for May

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Saturday, June 23 2018

Gold/Silver - Futures - COTs - Commitment of Traders

COTs this week

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Manipulation of Gold & Silver by Bullion Banks

Why is this important? Because despite what everyone tells you to the contrary, markets are controlled, and Gold and Silver in particular. Technicals, sentiment, and positioning are important tools, but you need to be aware of the risk of manipulation undermining the message these tools are telling you.

So why bother with such tools at all? Why buy Gold or Silver? The banks use the same tools we do to determine when to force prices lower, which is why their behavior is predictable. Second, manipulation has an expiration date, as demonstrated in the 2000s and 1970s in particular. They cannot stop metal prices going up forever, and you want to be around for when Gold and Silver soar next. They are the most undervalued assets out there today. Plus, I follow the smart money. And China, Russia, and JP Morgan have been loading up on physical metals for years now. Central banks around the world are also repatriating their Gold from the U.S. in preparation for some major event to come. I want to be long, too, when that event occurs.

In summary, manipulation in metals is undeniable. It has become so chronic that it is now obvious and therefore predictable. Unfortunately, it can temporarily undermine or render traditional analytical tools as useless. You need to be aware of this to protect yourself when it is about to happen again, because it will.

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Friday, June 15 2018

The World's Largest Gold Fund Is Getting a Cheaper Little Brother

The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the U.S., including SPDR Gold Shares known by its ticker GLD the $35 billion market leader, which the council also started.

Investors will soon be able to get a piece of that action for a lower price. The SPDR Gold MiniShares Trust, which will trade as GLDM, will cost just 18 basis points in management fees, or $1.80 for every $1,000 invested, the filings show. By comparison, GLD charges $4 for every $1,000 invested.

The fund will also start trading with a significantly lower share price than GLD, allowing investors to buy in smaller increments, the documents show.

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Why a seemingly run-of-the-mill announcement yesterday by Fed chairman Powell might signal a major turning point for the gold market.

Obviously, a healthy number of market participants share our view that the Fed is interested in stimulating the money supply and inflation, or in the very least, interested in letting the markets know it will stay out of the way should both begin to increase. That message was received loud and clear, though it might take some time for the impact to be completely understood and priced into various markets.

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Thursday, June 14 2018

Top 10 Gold Producing Countries

Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earth’s crust. But how much gold is the world digging up each year and what countries produce the most?

In 2017, global gold mine production was a reported 3,247 tonnes. This figure is down 5 tonnes from the previous year and marks the first annual drop since 2008, according to the GFMS Gold Survey 2018. The driving forces behind the drop in output were environmental concerns, crackdowns on illegal mining operations and rising costs.

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Bitcoin nipping at gold demand

For centuries, gold has held a unique role: as a form of currency, a store of value and sometimes a speculative or alternative asset to stocks and bonds. No other asset has managed to retain such an allure over time.

And over the centuries, there have been other pretenders for gold's throne (salt, florins or ducats, anyone?) but none has survived. The latest potential competitor for gold may be bitcoin, the cryptocurrency created in 2009 as open-source software for a decentralized form of payment.

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Monday, June 11 2018

Not All Forms Of Gold Ownership Are Equal

This week, the Goldnomics podcast ranks the safest ways to own gold to the least safe. The safest is, of course, owning physical gold bars. The next safest is to own allocated and segregated gold, which is owning physical gold kept in a separate physical account. The next level of safety is unallocated gold, then there are physically backed-ETFs and non-physically backed ETFs.

Further out the safety spectrum is owning shares of gold miners, which trade like equities (because they are). However, the vast majority of investors own gold via an ETF.

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Gold Investing Goes AWOL As Google Searches To 'Buy Gold' Hit 11-Year Low

Gold investing is often seen as a barometer of fear and financial stress.

But while the bullion price has responded to 2018's stock market drops and geopolitical tensions so far, appetite for gold is in fact weakening among private investors overall.

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