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Thursday, March 30 2017

What sets the Gold Price - Is it the Paper Market or Physical Market?

BullionStar’s CEO Torgny Persson and precious metals analyst Ronan Manly are of the opinion that due to the structure of contemporary gold markets, it is primarily trading activity in the paper gold markets which sets the international price of gold.

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Wednesday, March 29 2017

Brits Hoard Gold on Brexit Nerves

As the U.K. prepares to trigger its formal departure from the European Union, some Brits have been turning for comfort to gold.

The U.K. government is expected to trigger Article 50–the legal mechanism which will start Brexit negotiations–on Wednesday after the British voted to leave the EU last June.

The resulting political and economic uncertainty helped drive a 39% rise in U.K. gold bar hoarding in 2016, according to Ross Strachan from GFMS, part of media group Thomson Reuters.

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Russia, China Lay Groundwork For BRICS Transactions in Gold

Recent progress made in streamlining trade in local currencies has brought Moscow and Beijing closer to creating a financial architecture that could facilitate transactions in gold.

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US Debt vs Gold

The Debt Limit has jumped up to 19.809 trillion after Obama froze it till March 2017

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Shandong Gold Says It May Have Found China's Biggest Gold Mine

The Xiling mine in Shandong province told local authorities it had found 382.58 tons of gold reserves and that the volume could reach more than 550 tons once exploration is completed in two years, which would make it China’s largest mine, according to a statement Tuesday that cited the company on, a website supervised by the provincial government. Operating at full capacity, the mine would have a life of 40 years, according to the statement.

Chinese gold companies have been stepping up their search for domestic deposits and eyeing acquisitions as the nation seeks to increase reserves by 3,000 tons to as much as 14,000 tons by 2020, the Ministry of Industry and Information Technology said last month.

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Gold investment seen rising for 4th year in 2017

"Most long-term gold investors do not seem to expect the world's financial and political systems to collapse. Rather, they see them as facing major structural problems that will not be easily resolved or repaired in any short period of time," CPM said.

"In the near- to medium- term as it is becoming clearer to (shorter-term investors) that, while there may not be a collapse in the financial system, clearly the present interest rate environment, global economic growth profile, levels of unemployment and underemployment, and political turmoil globally are all factors that warrant owning at least some gold as a portfolio diversifier."

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Tuesday, March 28 2017

Sprott Precious Metals Watch

In Figure 4, we plot the Fed’s target fed funds rate versus spot gold from mid-2003 through early-2007. Between June 2004 and June 2006, the FOMC increased its target funds rate by 25 basis points at 17 consecutive meetings! During the span, fed funds more than quintupled, from 1.0% to 5.25%, yet spot gold climbed as much as 86% along the way (from a $392.55 close the day before 6/30/04 liftoff to an intra-day high of $730.40 on 5/12/06). Obviously, Fed tightening has far less reflexive impact on the gold price than commonly perceived.

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Massive 100 Kilogram Gold Coin Worth $4.5 Million Stolen From German Museum

German press has reported that thieves broke into Berlin's Bode Museum and made off with a massive 100-kilogram (221-pound) gold coin worth millions.

According to German media, the stolen coin is the "Big Maple Leaf", a commemorative piece issued by the Royal Canadian Mint in 2007. The three-centimeter (1.18-inch) thick coin, with a diameter of 53 centimeters (20.9 inches), has a face value of $1 million. By weight alone, however, it would be worth almost $4.5 million at market prices.

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Monday, March 27 2017

Gold Resistance

We need to clear the Trump spike in November to breakout.

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Sunday, March 26 2017

New Electrocatalyst Uses 99% Less Platinum Than Conventional Designs

Platinum is used as the catalyst in electrolysers that store electric energy as chemical compounds, and it also plays an important role in fuel cells, catalytic converters and many chemical processes used in industry.

A group of Aalto University researchers led by professors Tanja Kallio and Kari Laasonen has developed a manufacturing method for electrocatalysts that only uses one hundredth of the amount of platinum generally used in commercial products. Platinum is a very expensive metal and it is therefore one of the bottlenecks hindering the growth of renewable energy.

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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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Friday, March 24 2017

Inside a Chinese Coin Counterfeiting Ring

The photos in this gallery were taken inside a Chinese coin counterfeiting operation. This counterfeiting ring is suspected of putting thousands of fake coins onto the world and U.S. coin markets every month.

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Oregon teens used fake gold bars to scam people out of $

A pair of 17-year-old boys carried out a scheme using fake gold bars to scam people out of more than $50,000, according to police.

Investigators said the Bend teens bought artificial gold bars online that looked like the real deal. They then sold the bars as authentic to people in central Oregon, according to police.

Investigators described the suspects as "sophisticated" in using multiple ways to conceal their identities and scheme.

The teens identified people interested in buying gold through Craigslist and then set up meetings to make the transactions.

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Reviving King of Gold Means Getting Mine Workers Off Their Knees

If only it was that easy for the rest of the once dominant South African gold industry. After more than a century as the world’s top producer, the country has slipped to No. 7 over the past decade. Mines are deep, labor intensive and are being developed with mostly drill-and-blast methods little changed since the 1950s, which means costs have soared and output has dropped.

“South Africa is endowed with an unbelievable mineral resource,” said Neal Froneman, the chief executive officer of Sibanye Gold Ltd., the biggest producer of South African gold. “If we don’t have this shift to a new way of thinking about technology, we are going to sterilize resources. The industry will be dead by 2033 if we don’t change.”

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Struggling with dore imports, MMTC Pamp banks on domestic gold scrap

Facing much difficulty in import of dore, the term for unrefined gold, India's only refinery with LBMA (London Bullion Market Association) accreditation, MMTC Pamp, has diverted its focus on domestic jewellery scrap collection, to meet its raw material needs.

A joint venture between government-owned MMTC and Switzerland-based Pamp SA, the world’s leading bullion refiner, it has set up 10 scrap collection centres across major cities. These have testing machines and other equipment needed for checking purity of gold content in used jewellery. With these, it has recovered three tonnes of gold through scrap jewellery so far this financial year.

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This Gold Rally Has Recent History on Its Side

Gold has staged an impressive rebound since the Federal Reserve raised interest rates last week and reiterated that the pace of increases will accelerate. But is a rally logical?

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Wednesday, March 22 2017

Switzerland Gold Imports & Exports

Swiss gold imports/exports for February

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10,000 pieces of 300yo gold & silver treasure found in Chinese river

Over 10,000 items from a gold and silver treasure dating back to the Ming Dynasty 300 years ago have been discovered at the bottom of a river in China.

The monumental trove, which had been sitting at the bottom of a river in southwest China’s Sichuan Province for over 300 years, was unearthed by archaeologists.

A large number of gold, silver, and bronze coins were among some of the items recovered at the junction of the Minjiang and Jinjiang rivers about 50 kilometers (31 miles) south of Chengdu, the archeologists said on Monday.

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Gold is breaking free from Fed rate expectations

The correlation between gold prices and US nominal interest rates recently dropped to near record lows, which prompted some financial analysts and media sources to predict that further Fed interest hikes will inevitably lead to lower gold prices. However, proper analysis shows that gold prices move with real-interest rates, not nominal rates. And while nominal interest rates are likely to rise further, real-interest rates are not, because inflation expectations are moving higher as well. In fact, we believe that even if the economy allows the Fed to raise rates several percent higher, real-rates have likely peaked and thus gold prices troughed. Being already in the second longest economic expansion in US history, odds are that the economy will begin to slow long before the FED has raised rates to its 3% forecast, which means that the ensuing monetary easing will push real-interest rates into negative territory and gold prices higher again.

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