Tuesday, August 8 2017

Payment in gold bullion banned under new law to combat tax evasion

Companies will no longer be able to pay employees their salaries in gold bullion in the first use of a new law designed to combat “morally repugnant” tax avoidance schemes.

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Turkey Gold/Silver Imports

Turkey imports 62.8 tonnes of gold in July

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Chinese Gold Reserves

China adds zero gold to it's reserves in July

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Monday, August 7 2017

Gold Price: USD 65,000/oz in 5 years?

Financial market prices are generally set by the trading venues which command the highest trading volumes and liquidity. This is also true of the gold market where the venues with the highest gold trading volumes - the London over-the-counter and COMEX gold futures markets – establish the international gold price.

However, these two gold markets merely trade paper gold claims in the form of unallocated gold positions (London Gold Market) and gold futures derivatives (COMEX). This trading creates paper gold supply out of thin air and is also highly leveraged and fractional in nature since the paper gold claims are only fractionally backed by real physical gold.

Although these highly leveraged synthetic gold trades have nothing to do with the transacting of physical gold, perversely they still establish the international gold price because physical gold markets merely inherit the gold prices derived in these ‘high liquidity’ paper gold markets.

BullionStar maintains that these paper gold markets cannot price physical gold accurately because they don’t trade physical gold, instead they trade infinitely scalable fractional claims on a smaller amount of physical gold. The international gold price is thus an artificial gold price totally removed from supply and demand in the physical gold markets.

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Sunday, August 6 2017

How Many Gold Bars Do London Vaults Hold

Courtesy of UBS, below we present extended observations on what the LBMA data reveal, and the implications for the broader gold market in general, as well as investing in the precious metal in particular.

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Saturday, August 5 2017

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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Chinese Gold Imports From Hong Kong

China imports 70.16 tonnes of gold via Hong Kong in June

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Hong Kong Exports/Re-Exports/Imports

Hong Kong net imports 107.534 tonnes in June

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Chinese SGE Gold Withdrawals

SGE Withdrawals were 144.71 tonnes for the month of July

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Friday, August 4 2017

Surprise! Gold Prices Have Beaten the Market So Far this Century

More impressively, the price of gold has outperformed the S&P 500 Index so far this century, returning 86 percent more than the market if we index both asset classes at 100 on December 31, 1999. Over the past 17 years, the S&P 500 has undergone two major contractions, both of them resulting in a loss of around 40 percent. Gold, meanwhile, has held its value well, boosting its appeal as a portfolio diversifier.

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Thursday, August 3 2017

Gold Demand Trends Q2 2017

Q2 gold demand of 953.4t was 10% lower than 2016, while H1 demand slowed 14% to 2,003.8t. Y-o-y comparisons are affected by record ETF inflows in 2016: demand from this sector slowed dramatically after last year’s H1 surge. Central bank net purchases of 176.7t were also slightly lower in the first half (-3%). By contrast, bar and coin investment improved, as did jewellery demand, although the latter remains weak in a long-term context. Technology demand also made modest gains.

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Perth Mint Coin Sales

Sales for July

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Intraday Averages For Gold/Silver

Intraday averages for July

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What Is It About 1906ET That Spooks Precious Metals 'Traders'?

However, it was the precious metals 'markets' that went a little turbo. At 1906ET, Silver futures flash-smashed higher, running the day's high-stops, before plunging back to earth...

This would normally be shrugged off as just another example of the utter farce that global capital markets have become. However, a glance back in recent history at the silver market's most recent chaos moment - on July 6th - and a 'funny' thing stood out!!!

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Wednesday, August 2 2017

LBMA Gold Vault Data - How low is the London Gold Float?

The most important number in all of this is how much gold do the LBMA bullion banks in London own and control. It cannot be more than about 1500 tonnes on the high side and less than 1000 tonnes on the low side. But still the London gold market trades over 6000 tonnes of gold equivalent each day, which is over 143,000 tonnes per month or 1.6 million tonnes per year. This is only possible because the London gold market is a giant fractional-reserve system of paper gold trades with very tiny physical gold underpinnings.

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India Gold/Silver Imports

India's imports for June

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Greenspan Fears Imminent Stagflationary Slump, Warns The Bubble Is In Bonds Not Stocks

If we went back on the gold standard and we adhered to the actual structure of the gold standard as it exited prior to 1913, we'd be fine.

Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we've had in the United States, and that was a golden period of the gold standard. I'm known as a gold bug and everyone laughs at me, but why do central banks own gold now?

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US Mint Coin Sales

US Mint sales for July

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Crypto Currency vs Gold

Bull market similarities

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