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Gold and silver continued their consolidation after the April lows, trading in narrow ranges with a firm undertone. Attention is now firmly focused on Chinese and Indian demand for gold, which between them is absorbing all non-Asian mine supply. Chinese net purchases of gold totalled 320.54 tonnes in the first quarter 2013, with purchases ...
Introduction In this article I will argue that the recent slide in the gold price has generated substantial demand for bullion that will likely bring forward a financial and systemic disaster for both central and bullion banks that has been brewing for a long time. To understand why, we must examine their role and motivations in precious ...
After the white-knuckle ride of the last week and a bit, the gold market appears to have calmed somewhat in recent days. The price is no longer falling by triple-digit amounts in single sessions, or gaining significant amounts either. Bulls will have been given some encouragement though by the strong bounce off of the $1,350 level reached ...
Another tough day for gold yesterday. The metal looks like it could test support at $1,600/oz, depending on the noises coming from governments in the run up to the weekend’s G20 gathering in Moscow. The short-term problem for gold bulls remains: central bank QE has temporarily succeeded in geeing up markets, and has got equity bulls ...
The mood of bullishness evident since the start of the year continued yesterday, with the FTSE All-World Index equity index reaching its highest level since May 2011. Copper and crude oil rocketed higher yesterday morning, with the red metal reaching a three-month high and oil up on news of Saudi production cutbacks in December. Precious ...
US Market and Metals Major financial markets closed in the red yesterday under the forecast that the United States’ budgetary issue (the so-called “fiscal cliff” situation) will not be resolved by the year’s end. The Dow Jones shed 51 points to 13,139.08 and the Nasdaq was down 8 points to 3,012 as investors ...
There is growing awareness that gold is accumulating in Asia. Indians have for a long time been the largest buyers of gold and have a tradition of giving gold as gifts at auspicious times. This gold is mostly classified as jewellery in the statistics, and it is assumed by Westerners that a rising gold price will dampen demand from this ...
Earlier this month Eric Sprott circulated a paper, co-authored by him, which concluded that Western central banks have considerably less physical gold than they claim. It shows that since the year 2000 there has been a net increase in identifiable annual demand of 2,268 tonnes, and concludes that some supply, apart from mine output from ...
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