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Saturday, March 18 2017

Russia's Nornickel says its fund buys palladium from central bank

A fund created by Norilsk Nickel (Nornickel) buys palladium from Russia's central bank reserves to help meet demand from its customers, the world's largest producer of the metal said on Thursday.

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Gold Explorers Set for 2017's Best Week as Moribund Metal Stirs

“The gold miner’s rally has much more room to go and this will be primarily due to the reason because there is still more upside to gold,” Naeem Aslam, the chief market analyst at ThinkMarkets U.K. Ltd., said in an email. “The Fed is not going to hawkish anytime soon.”

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Friday, March 17 2017

US Interest Rates vs Gold

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Real Rates Of Return - CPI

January rates

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Hopes of gradual Fed rate rises fuel gold rally

Gold extended its rally this year as fears that the US Federal Reserve would signal a much faster pace of rate rises failed to materialise.

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Thursday, March 16 2017

Strong Institutional Investment Pushes Silver Prices Higher

The strength of silver prices is largely due to improving sentiment among institutional investors. Changing expectations towards the outlook for U.S. interest rates and the proliferation of negative policy rates across other key reserve currencies has rekindled institutional investor interest in precious metals. Meanwhile, a marked improvement in silver industrial offtake, led by photovoltaics, which achieved a record high last year, is also helping. All these factors in turn have fueled investment inflows into silver futures, options, exchange traded products (ETPs) and over-the-counter products.

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London gold rush - ICE to launch clearing before banks are ready

Intercontinental Exchange (ICE) is set to launch clearing for London's benchmark gold price auction before participants are ready as it races to prevent rivals muscling in on the city's $5 trillion-a-year bullion market, market and banking sources said.

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Wednesday, March 15 2017

Idaho House of Representatives Votes Overwhelmingly to Remove Income Taxation from Precious Metals

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars.

Bill sponsor Representative Mike Moyle (R) and the entire Republican caucus voted for the measure. If the Republican-controlled Idaho Senate follows suit and Governor Butch Otter (R) signs the bill, Idaho citizens will better be able to use gold and silver as a form of savings which protects against ongoing devaluation of America’s currency.

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Tuesday, March 14 2017

Solving the Secret Behind the Chinese Gold Market

China, it seems, wants to make the rules in the international monetary system, which is why it has been acquiring vast amounts of gold through both private and official channels.

Because of the obscure nature of the Chinese gold market and the reluctance of Chinese officials to show their hand, nobody has been able to accurately calculate how much gold the Chinese have acquired since 2000, when they began amassing it.

Enter Koos Jansen, an analyst with Singapore bullion dealer BullionStar. He has studied the Chinese gold market for years and recently came up with an estimate of total Chinese gold holdings: 19,500 metric tons, or 21,495 U.S. tons, at the end of January 2017.

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Sunday, March 12 2017

Egon von Greyerz meets with Grant Williams

In this fascinating interview on RealVision TV, Grant Williams and Egon von Greyerz cover a very broad range of subjects from gold, wealth preservation to debt, interest rates, Brexit, the EU and much more.

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Consuming our future

Only lowering our living standards will achieve sustainable growth. That’s the message from Satyajit Das, a former financier who anticipated the GFC. Debt, energy consumption, housing affordability or superannuation – it’s all based on a financial system that’s in fact a completely fictional model. This model was always doomed to fail – eventually.

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Mexico's Earmarked Gold Bars at the Bank of England vaults

Guillermo Barba, the Mexican financial and economic journalist, has recently published an article on his website confirming that through an information request that he had made to Mexico’s central bank, Banco de México (Banxico), the central bank has now released what amounts to a relatively comprehensive list of Mexico’s gold bars held in storage at the Bank of England gold vaults in London.

Mexico’s list is an inventory of wholesale market gold bars that Banixco owns and stores in custody at the Bank of England vaults in London. In the contemporary parlance of the gold market, most people would call this type of holding an allocated gold holding, but more historically in the Bank of England world, it has been known as an “earmarked gold” holding or a “set-aside gold” holding because the specific bars are set-aside for a specific central bank, in other words the central bank has its name attached to those particular bars (earmarked).

Wholesale gold bars are also known as London Good Delivery gold bars or variable weight gold bars, and each weighs in the region of 400 troy ounces ( ~ 12.5 kilos). On the Banixco list, there are 7,265 wholesale gold bars listed. This new list is one of the very few detailed central bank gold bars lists (weight lists) which exists in the public domain, and it could be useful for a number of purposes (see below).

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Saturday, March 11 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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Government mobilises 6.4 tonne gold under monetisation scheme

The government has collected 6.4 tonnes of gold under the scheme for monetising the metal, Parliament was informed today.

Launched in November 2015, the scheme intends to mobilise idle gold held by households and institutions so that the wealth can be put to productive use.

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Friday, March 10 2017

Perth Mint Coin Sales

Perth Mint sales for February

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Chinese Gold Imports From Hong Kong

Net gold imports into China via Hong Kong were 31.8 tonnes in January (17.2% of SGE withdrawals)

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What Drives the Price of Gold?

Last year, gold had its best first half of the year in decades, all in response to Fear Trade factors such as low to negative global government bonds and geopolitical risks, specifically Brexit and the upcoming U.S. election.

But the Love Trade failed to lift gold in the fourth quarter mainly because Indian Prime Minister Narendra Modi’s demonetization efforts to combat dark money and tax evasion left many low and middle-income Indians without the cash to purchase gold jewelry for weddings and investment purposes.

Investing, like life, is all about managing expectations. But if you don’t know what to look for, this can be difficult to do. That’s why we put together this video to help educate investors like you on what we believe are the top five drivers of gold.

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Thursday, March 9 2017

The Path to $10,000 Gold

The combined M1 money supply in the world is about 24 trillion dollars. That includes the United States, China, the Eurozone and Japan. Those four entities combine for over 70% of global GDP.

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Indian demand will recover from 2016’s lows

A barrage of policy initiatives aimed at purging India of black money and instilling greater transparency rocked India’s economy last year, including its gold market. The most dramatic was the radical decision to demonetise over 15 trillion rupees, around US$220bn. Other policies – such as the re-introduction of excise duty – affected the gold market, too. And the forthcoming Goods & Service Tax (GST) will change the shape of the industry. India’s gold market faces some short-term headwinds. But looking ahead, these policies may deliver a stronger economy and a more transparent gold industry, underpinning gold demand, which we expect to be between 650-750t in 2017.

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