Friday, July 27 2018

China's June net gold imports via Hong Kong jump to 15-month high

Imports via Hong Kong, by the world’s top consumer of the metal, rose to 80.867 tonnes in June from 57.649 tonnes in May according to data provided to Reuters by the Hong Kong Census and Statistics Department.

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Tuesday, July 24 2018

AngloGold Says There's No Escaping Demise of South African Gold

South Africa’s gold mines are the world’s deepest and among the most labor intensive. The country’s gold production dropped 16 percent in May from a year earlier, falling for an eighth straight month, as aging infrastructure, depleted reserves and accidents raise costs and curb output.

“Gold is a sunset industry,” Pityana said in an interview last week in Bloomberg’s Johannesburg office. “It doesn’t matter what you do, it doesn’t matter how you do it, you are not going to be able to change that.”

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Monday, July 23 2018

Switzerland Gold Imports & Exports

Swiss flows for June

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Sunday, July 22 2018

Russia ditching US Treasuries for gold in bid to protect economy & diversify

Russia has left the top-30 list of top lenders to the United States by radically slashing US Treasury bills ownership. RT-polled analysts have shared their opinion on the move.

“Both political and economic reasons could be found here. The Central Bank may have thought that Russia-owned Treasuries could be frozen because of geopolitical tensions. The regulator announced in spring that it plans to diversify its reserves,” said Zhanna Kulakova, financial consultant at TeleTrade.

The analyst thinks the Russian central bank could re-invest the money from the sale into Chinese bonds and gold. “Gold is a tangible asset that can not be completely depreciated under any circumstances. In periods of global financial or political crises, gold will be much more useful than securities or cash,”

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Saturday, July 21 2018

Venezuela exported $779 mln in gold to Turkey in 2018

Venezuela exported $779 million of gold to Turkey in 2018, according to Turkish government statistics, further evidence that the South American country is shifting its pattern of trade following a wave of sanctions that began last year.

Venezuela’s Mining Minister Victor Cano on Wednesday said the central bank was exporting gold to Turkey rather than Switzerland due to concerns about sanctions, without specifying the amount that was being sent.

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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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Russian Gold Reserves

Russia adds 500,000oz to it's reserves in June

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Friday, July 20 2018

Chinese Gold Market: Still in the Driving Seat

With the first half of 2018 now behind us, it’s an opportune time to look at whats been happening in the Chinese Gold Market. As a reminder, China is the largest gold producer in the world, the largest gold importer in the world, and China’s Shanghai Gold Exchange is the largest physical gold exchange in the world.

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Thursday, July 19 2018

GOLD - Blood In the Streets ?

The good news for gold bulls is that the weaker hands in the ETFs have sold out, the speculative long overhang on CME has all but disappeared and we have absorbed about 700 tonnes of leveraged selling (and we are now at levels not seen since early 2016), while the demand for physical reported by the Mints around the world are at generational lows. Indian demand is patchy and Chinese demand only adequate. I might add that the term "buy gold" on Google Trends has just slipped to a decade low. Further, gold's Relative Strength Indicator on the charts has slipped to below 24 confirming its oversold status. Not exactly blood in the streets yet - but for businesses in our space, it is certainly tough.

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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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