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Central Bankers Get Tired of Gold as Lower Exports Cut Cash

Posted on 31 August 2016 by VRS  |  Email |Print

The biggest owners of gold are tiring of the metal. Central banks — holders of about 32,900 metric tons of bullion — cut their purchases by 40 percent during the three months through June, compared with the same period a year earlier, to the lowest since 2011, World Gold Council figures compiled by Bloomberg show. It was the third-straight quarterly drop, the longest such streak in at least five years.
Buying declined in 2016 as prices were rallying for their biggest first-half gain in 40 years……………………………………….Full Article: Source

Why Gold Will Likely Be Much Higher 10 Years From Now

Posted on 31 August 2016 by VRS  |  Email |Print

US government debt should exceed $20 trillion next year. Domestic infrastructure is falling apart and more spending (debt) is badly needed. The Federal Reserve will not be able to significantly raise interest rates due to a systemically weak US economy which is likely to stay “weaker for longer.”
Low and even negative interest rates mean the cost of buying and holding gold is negligible. Long term, gold is going much, much higher. Many goldbugs and analysts watch the price of gold very closely and try to time trades based on the latest economic data or Federal Reserve statements……………………………………….Full Article: Source

Gold futures may climb toward $1,400 by end of year: analyst

Posted on 31 August 2016 by VRS  |  Email |Print

Gold futures still have room to climb this year even as the Federal Reserve seesaws between a dovish and hawkish stance on monetary policy. Prices for the yellow metal may make “another try” at the $1,400-an-ounce level later this year, George Milling-Stanley, head of gold investment strategy at State Street Global Advisors, said.
He said he can’t guarantee a rate increase at all, with the Fed appearing to be “dovish one day and hawish another” day. He expects gold to see muted trading for the rest of the year but despite that, prices may still see another $50, $60 or $70 rise. Also on CNBC, Tom McClellan, editor of The McClellan Market Report, said next year and 2018 should be “hugely bullish” for gold……………………………………….Full Article: Source

Are gold and silver still trending up?

Posted on 31 August 2016 by VRS  |  Email |Print

The demand for gold investments reached a record 1,064 tonnes in 1H. This is the highest 1H demand since 2009, when the financial market was reeling from the global financial crisis. Are gold investors preparing for the next crisis?
The demand from gold comes from four main sources: jewellery, technology, investment, and reserve asset management. Of the four, jewellery demand accounted over half of total gold demand. But anaemic jewellery demand amid high prices has eroded the demand share since 2006……………………………………….Full Article: Source

Gold ‘should be $US1,700 an ounce’: Deutsche Bank

Posted on 30 August 2016 by VRS  |  Email |Print

Gold has seen a sell-off in recent days, heading for the longest run of declines since May, trading at $US1319 an ounce. Federal Reserve chairwoman Janet Yellen’s speech at Jackson Hole over the weekend contributed to gold’s latest decline.
Yellen said the case for a US rate increase has strengthened, without specifying whether we would see one in September or ­December. The odds of a September rate rise have risen to 42 per cent, from 22 per cent a week ago, and the odds of a December rate hike soared to 65 per cent, according to Bloomberg………………………………………..Full Article: Source

Why Gold Will Likely Be Much Higher 10 Years From Now

Posted on 30 August 2016 by VRS  |  Email |Print

US government debt should exceed $20 trillion next year. Domestic infrastructure is falling apart and more spending (debt) is badly needed. The Federal Reserve will not be able to significantly raise interest rates due to a systemically weak US economy which is likely to stay “weaker for longer.”
Low and even negative interest rates mean the cost of buying and holding gold is negligible. Long term, gold is going much, much higher………………………………………..Full Article: Source

The Gold Trade Is Not Overcrowded Says UBS

Posted on 30 August 2016 by VRS  |  Email |Print

The best performing precious metal for the week was gold, down slightly by 1.47 percent. Current market conditions make it the perfect time to invest in gold, according to Heather Ferguson, an analyst at Hargreaves Landsown.
“There is a fixed amount of this precious metal in the world so central banks are not able to manipulate the gold market like they can with bonds and cash,” Ferguson explains. “In the current environment of quantitative easing and increasingly extreme monetary policy, gold is highly sought after.”……………………………………….Full Article: Source

Price of Silver Soars 45% in H1 2016

Posted on 30 August 2016 by VRS  |  Email |Print

Silver’s price performance soared in the first half of 2016, fueled by increased investor interest in silver as a safe haven asset and as leveraged exposure to gold’s price rally. Between January 4 to July 11, the price of silver increased 44.7%, according to a report by the Silver Institute.
Exchange traded product holdings rose by 44.3 million ounces (Moz), or 7.2%, to a record high of 662.2 Moz. Silver coin sales increased in the first quarter of 2016 by 29% globally, according to the GFMS Thomson Reuters Quarterly Coin Sales Survey………………………………………..Full Article: Source

Higher gold price will add 10m annual ounces by 2020

Posted on 29 August 2016 by VRS  |  Email |Print

BMI Research, a division of Fitch, predicts in a new report that gold miners will add 10 million ounces or more than 280 tonnes to global production with average annual growth of 2.7% for a total of 110 million ounces or 3,118 tonnes yearly output by 2020. This represents a slight deceleration in growth rate compared the previous five-year average of 3.2%.
Projects expected to add substantial ounces to global gold production before the end of the decade include Endeavour Mining’s Hounde project in Burkina Faso, Goldcorp and Teck’s Corridor JV in Chile and Torex Gold Resources giant El-Limon-Guajes ramp up to full production………………………………………..Full Article: Source

Gold May Have ‘Rally Legs’ - RBC’s Gero

Posted on 29 August 2016 by VRS  |  Email |Print

“As more things change the more they stay the same,” summed up George Gero of RBC Wealth Management, post Fed Chair Janet Yellen’s anticipated talk. Federal Reserve chair Janet Yellen said Friday that there is a stronger case for a rate hike with the U.S. economy nearing goals of maximum employment and price stability.
Yellen’s Jackson Hole speech was slightly hawkish, said Gero but seems to be helping the metals as ten-year treasuries and the dollar index are back to where they were. Gold dipped on the news but is now 1.5% higher post-remarks. December Comex gold futures last traded at $1,343.40 an ounce while September silver last traded at $18.950, 2.49% on the day………………………………………..Full Article: Source

Gold price drops, but market watchers remain bullish

Posted on 29 August 2016 by VRS  |  Email |Print

The gold price is heading for its first monthly drop since May as the spotlight refocuses on the next United States interest rate hike. But market watchers are still bullish on the precious metal given its safe-haven qualities amid continuing global economic uncertainty.
The gold price - about US$1,325 an ounce as at last Friday - is down 0.8 per cent this month, as the commodity retreats from its high this year of US$1,373 in early July following Britain’s shock vote to leave the European Union………………………………………..Full Article: Source

What next for gold prices?

Posted on 29 August 2016 by VRS  |  Email |Print

Gold was a disaster after it peaked at $1,930 an ounce in September 2011 and then dropped to $1050 in a savage bear market that mauled the gnomes and goldbugs of the Gulf.
However, the yellow metal endeared a bull market in 2016 as gold bullion has risen 24 per cent while the gold miners index fund (GDX) I had recommended in this column has been one of the most profitable investments of 2016, up a fabulous 100 per cent. Gold is $1,325 spot as I write. What next?……………………………………….Full Article: Source

Where To For Gold? Down - But Not Out - For Now

Posted on 26 August 2016 by VRS  |  Email |Print

Gold has done very well this year. It was up almost 30% year-to-date in early July, which certainly beats most other investments nowadays! But since then it’s stagnated, and earlier this week took a sudden dive. Where will it go from here?
I believe that the factors pushing gold higher have pretty much played out for now, and the price is likely to fall back further. But that doesn’t mean gold finished, by any means. There are likely to be plenty more opportunities for the metal to rally in the future………………………………………..Full Article: Source

Investors’ mad dash for gold

Posted on 26 August 2016 by VRS  |  Email |Print

South Africa’s three biggest listed gold companies paid down debt and started to pump cash in the first half of the year, while gold prices and local currencies were favourable. With fatter purses, they may develop an appetite for acquisitions.
AngloGold Ashanti, Gold Fields and Harmony Gold boosted profits in the period to June as strong dollar gold prices were accompanied by weaker currencies in the countries where they own mines, reducing their operating costs………………………………………..Full Article: Source

Gold to hit $1,600, then $1,800: Scotia

Posted on 26 August 2016 by VRS  |  Email |Print

Gold is having a comparatively torpid summer. The price has hovered around the $1,300 level since late June. This is quite a comedown from the best first-half performance since the 1980s. Still, gold is up about 30% for the year. And there’s no shortage of analysis suggesting that it has more to give.
The fundamental backdrop is well worn. Maybe bond yields are low, or negative, and central banks are printing money. Why not buy precious metals? But the long-term technical backdrop also looks pretty good. In fact, it looks rock solid to Elliot Fishman. He’s Scotia Wealth’s director of US and international trading………………………………………..Full Article: Source

Gold Believers From Soros to UBS Lose Faith in Mining-Share Gain

Posted on 26 August 2016 by VRS  |  Email |Print

The red-hot market for gold-mining companies has made the shares too expensive for some investors, even though they remain bullish on the outlook for bullion. Earlier this year, fund managers including George Soros had gobbled up shares of producers such as Barrick Gold Corp. and Newmont Mining Corp. in a bet that the surprise rally in the price of the metal would spark a surge in profit.
After a five-year slump marked by mine closures and losses, the companies were cheap. But now, many are worth twice what they were in 2015 — after rising at almost five times the rate of the commodity — so funds have begun unloading the equities while retaining or expanding holdings in physical gold………………………………………..Full Article: Source

Why gold prices soared over 20% in 2016 so far

Posted on 25 August 2016 by VRS  |  Email |Print

Gold has witnessed a spectacular first half this year with a mammoth gain of almost 25 per cent. Global economic concerns, political and economic uncertainty caused by Brexit and loose monetary policy stance of major central banks are some of the factors which have helped pushed gold price to the highest level since 2014.
However, gold price have turned rangebound in last few days as market players await fresh triggers to extend the gains. Gold has been trading in a narrow range above $1300/oz since start of August indicating lack of direction………………………………………..Full Article: Source

Gold price drop triggers mining stocks bloodbath

Posted on 25 August 2016 by VRS  |  Email |Print

Gold struggled on Wednesday losing more than 1% to exchange hands for $1,327 in late afternoon trade in New York. Gold is coming off two-year highs hit early this month and year to date the metal is still up more than 25% or nearly $270 an ounce.
Some of the biggest drivers of 2016 gold price surge have begun to lose steam in recent weeks. Large scale gold futures and options speculators or “managed money” investors such as hedge funds have been scaling back bullish bets recently and the frenzied buying of physically-backed gold ETFs have also moderated……………………………………….Full Article: Source

UBS: ‘Any Downside Should Ultimately Be Limited’ In Gold

Posted on 25 August 2016 by VRS  |  Email |Print

UBS looks for any potential damage from Federal Reserve hawkishness to be limited. “The focus this week will be Fed Chair Yellen’s speech at Jackson Hole, where investors will look for guidance on Fed policy,” UBS says in an early-week research note.
“We expect Fed comments to hint at the potential for a hike later in the year – improving U.S. data and hawkish comments from the Fed could weigh on gold, especially given positioning has lingered close to all-time highs.” Net speculative length on Comex as of Aug. 16 was around 91% of the all-time high, despite a decline over the past six weeks, UBS says………………………………………..Full Article: Source

Gold Pressured By Bearish Outside Markets

Posted on 25 August 2016 by VRS  |  Email |Print

Gold and silver prices are modestly lower in subdued early U.S. trading Wednesday. The outside markets are in a bearish posture for the precious metals on this day, as crude oil prices are lower and the U.S. dollar index is higher.
December Comex gold was last down $3.70 an ounce at $1,342.30. December Comex silver was last down $0.06 at $19.01 an ounce. Nymex crude oil futures prices are lower in early U.S. trading today. Crude prices are still in a near-term uptrend, however………………………………………..Full Article: Source

The biggest buyers of gold aren’t buying like they used to

Posted on 25 August 2016 by VRS  |  Email |Print

The world’s central banks are still net buyers of gold, but they may be slowing down those purchases. Central banks bought an estimated 166 tonnes of gold and sold 22 tonnes in the first half of 2016, making a net purchase of 144 tonnes, according to Macquarie analysts.
This was not much changed from the net purchases they made in 2013 and 2014, but less than the 179 tonnes they bought at the same time last year, Matthew Turner and his team wrote in a note this week………………………………………..Full Article: Source

Should you buy gold or gold miners?

Posted on 25 August 2016 by VRS  |  Email |Print

Gold has been all the rage in 2016. Amid rising inflation and growing global economic uncertainty, the price of the precious metal has risen over 25% since the start of the year. This rally would suggest that gold’s multi-year bear market has finally come to an end, and according to many analysts, the price of gold has yet to peak.
As a safe haven asset, gold is negatively correlated to price movements in the stock markets. This means investing in gold can help you diversify your investment portfolio so that you’re better protected when there’s a market crash. There’s a lot of uncertainty around, and gold can be a useful way to preserve capital during periods of market volatility………………………………………..Full Article: Source

Is The Silver Price Destined To Sit Around $19?

Posted on 25 August 2016 by VRS  |  Email |Print

The first half of the year was an incredible time for silver as the precious metal saw massive gains. However, more recently, we’ve seen declines. Now, the price of the precious metal seems to be sticking around the $19 per ounce mark.
However, is the precious metal destined to stick around this level for long? In my opinion, the answer is no! Today, we’ll talk about what causes movement in the value of silver, why the precious metal has seen declines recently, and what I’m expecting to see ahead………………………………………..Full Article: Source

Gold price rally still to peak, as global economic worries continue

Posted on 24 August 2016 by VRS  |  Email |Print

Demand rises 15pc in second quarter, after price soars 26pc from a six-year low of US$1,060.2 per ounce at the start of the year. The current rise in the price of gold is yet to peak, according to analysts, after jumping 26 per cent in the first half.
The spot gold price surged from a six-year low of US$1,060.2 per ounce at the start of the year to US$1,320.6 by June 30, amid fears over Brexit, delays in interest rate rises in the United States and rate cuts by global central banks, amid the ongoing global economic slowdown………………………………………..Full Article: Source

Gold heads for first monthly drop since May

Posted on 24 August 2016 by VRS  |  Email |Print

Concerns grow over potential Fed rate rise. Gold is heading for its first monthly drop since May, as angst grows that a second rate rise since last December from the US Federal Reserve will end a stellar rally that has sucked almost $13bn into the largest exchange traded fund backed by the yellow metal this year.
After a record year so far, flows into the SPDR Gold Shares are dipping this month in a sign of investors’ nervousness over whether gold can extend its 26 per cent gain this year, according to traders and analysts………………………………………..Full Article: Source

How Venezuela is impacting the gold market

Posted on 24 August 2016 by VRS  |  Email |Print

Global central banks continued to be buyers of gold in the first half of 2016, and while the pace of purchases is expected to slow, demand is likely to hold steady. “There is still no appetite for sales, but outside of Russia and China, few purchases either,” analysts at Macquarie Capital Markets said on Tuesday.
They estimate central banks bought 166 tonnes of gold and sold 22 tonnes in the first half of the year, producing a net purchase of 144 tonnes………………………………………..Full Article: Source

BMO: ‘We Would Still Be Buyers’ On A Dip In Silver Prices

Posted on 24 August 2016 by VRS  |  Email |Print

Analysts at BMO Capital Markets say they would favor buying silver on price dips. Their base-case outlook is for silver prices to remain range-bound, although with a greater downside risk than upside risk in the near term.
Analysts say they are not revising their price forecasts for now, noting that silver and gold are not far from BMO’s second-half forecasts of $19.75 and $1,360 an ounce, respectively. For the metals to rise further, they would need a new structural catalyst, BMO says. Meanwhile, analysts continue, there is a downside risk from a potential Federal Reserve rate hike. “At this point, we would still be buyers on the dip given our global outlook,” BMO says………………………………………..Full Article: Source

Gold price must improve to incentivise industry recovery: Holland

Posted on 23 August 2016 by VRS  |  Email |Print

The world’s gold industry will need the price of its metal to improve further in order to support investment in fresh resources, said Gold Fields CEO, Nick Holland. Making a return to the Melbourne Mining Club some four years after first addressing it, Holland said cost savings as well as currency and oil price weakness had served as tailwinds to the industry.
The average net cash flows of some of the industry’s biggest gold miners, including Barrick Gold, Newcrest Mining, AngloGold Ashanti and Gold Fields itself, had fallen to about $4bn in 2013………………………………………..Full Article: Source

Gold Mining Industry Needs the Dollar Gold Price at $3,000 per ounce

Posted on 23 August 2016 by VRS  |  Email |Print

In our paper from March 23, 2016 we concluded that JPM [J. P. Morgan] in cooperation with the BIS [Bank of International Settlements] controls the dollar gold price by using their very dominant position in gold derivatives in the US Banking System.
JPM held during 1999 – 2014 an average of 3.262 paper metric tons gold (derivatives) available for interventions on the development of the dollar gold price with the BIS as counterparty. Furthermore we concluded that the paper volume sets the dollar gold price and that there is almost no influence on the dollar gold price from the physical supply and demand. Overall the conclusion is that there is no free market for gold………………………………………..Full Article: Source

Fed comments push gold lower but what does the future hold for bullion?

Posted on 23 August 2016 by VRS  |  Email |Print

Gold fell to a two-week low on Monday following upbeat comments on the U.S. economy from a senior Federal Reserve official. Spot gold traded at around $1,333.40 per ounce at the start of the trading week, after Fed Vice Chairman Stanley Fischer told a conference in Aspen, Colorado, Sunday that an interest rate hike was still under consideration for this year and that economic growth would accelerate.
“I think that as U.S. data has surprised to the upside recently … the Fed prepares for a hike … it is understandable that gold comes under pressure, especially in these quiet summer months when liquidity is not great,” Joni Teves, UBS strategist, told CNBC on Monday………………………………………..Full Article: Source

Is India’s love affair with gold over?

Posted on 22 August 2016 by VRS  |  Email |Print

India’s gold demand fell significantly in the first half of 2016. World Gold Council data show the combined demand for jewellery and investment at only 247 tonnes. Import during January-June was 248 tonnes, 42 per cent lower than the corresponding period last year and lowest since 2009.
Even in calendar years 2013 and 2014, when the trade was under severe regulatory stress in India, demand and imports were higher than seen in 2016 so far. Estimates peg imports in 2016 at 650 tonnes, after taking into account some recovery expected in rural demand, led by a good monsoon. However, this will be the lowest after 2009, when imports were 559 tonnes………………………………………..Full Article: Source

Gold Price Likely To Go Much Higher On Safe Haven Demand

Posted on 22 August 2016 by VRS  |  Email |Print

Gold has been climbing in the market throughout the year…and for good reason. Global economic conditions, central bank experiments and volatility in the market is all leading to strong safe haven demand. The big question is whether or not this will continue. The experts argue that the price of gold is going to continue climbing in value.
This opinion surrounds the safe haven qualities of the precious metal. Today, we’ll talk about what we’ve seen recently from investor demand, why experts believe that demand will continue to rise, and what I’m expecting to see from the price of gold moving forward………………………………………..Full Article: Source

Plenty of upside left in gold stocks’ shining year

Posted on 22 August 2016 by VRS  |  Email |Print

The sky-scraping performance of Australian gold mining stocks this year has led to the inevitable questions of when to expect a correction, but analysts say there’s potential still to be realised. Of the biggest names in the index, Evolution Mining has risen 86 per cent this year to date, Newcrest Mining 83 per cent, Regis Resources 74 per cent and Northern Star Resources 69 per cent.
Analysts at Morgan Stanley say globally, total shareholder returns for 2016 so far for precious metal shares have hit 169 per cent, sending valuations at or above historical highs………………………………………..Full Article: Source

Rally in gold may continue

Posted on 19 August 2016 by VRS  |  Email |Print

There may be further upside, as negative real interest rates in developed world unlikely to end soon. Gold has risen about 26.1 per cent year-to-date in 2016. The strong rally in yellow metal has raised three questions for investors: Will the rally continue? Will it be prudent to make fresh investments at current levels? And, should existing investors stay put or book profits?
Recent data from the World Gold Council for the first half of 2016 show the upsurge in demand for gold was driven primarily by investment demand from investors in the developed world — US, Europe and Japan. The investment demand of 1,063.9 tonnes during the first half of 2016 was 16 per cent more than the previous high in the first half of 2009 (after the financial crisis)………………………………………..Full Article: Source

Gold Bull Market Should Keep Its Shine, Charts Say

Posted on 19 August 2016 by VRS  |  Email |Print

With the Federal Reserve potentially raising interest rates this year and a stronger U.S. dollar being a likely result, gold’s rally could be nearing an end. After all, gold and the dollar generally have an inverse relationship.
However, as a chart watcher I think that all of this is already in the metal’s price. Therefore, analysis of the trend and other supporting factors gives us better odds of gold’s next move. Right now, gold is indeed tired but overall the rising trend is still very much intact. I look for higher prices later this year………………………………………..Full Article: Source

Why Global Outlook Gleams on Gold

Posted on 19 August 2016 by VRS  |  Email |Print

A reading of July’s Federal Reserve policy meeting minutes doused investor expectations of a near-term hike of lending rates. Gold can be seen rising as traders scramble for safe-havens in the absence of attractive yield-bearing assets.
Gold for December delivery could be seen at a session high of $1,361.45 a troy ounce in past midday trade trading in Europe on Thursday. The price of the yellow metal had already advanced earlier in the day in Asian trading………………………………………..Full Article: Source

Gold Boosted By Bullish ‘Outside Markets’

Posted on 19 August 2016 by VRS  |  Email |Print

Gold prices ended the U.S. day session moderately higher Thursday, supported by a lower U.S. dollar index and higher crude oil prices. December Comex gold was last up $8.00 an ounce at $1,357.00. September Comex silver was last up $0.102 at $19.75 an ounce.
The marketplace is focused on the slumping U.S. dollar index, which hit a seven-week low overnight. The weakening greenback is a bullish element for the raw commodity sector. Most major raw commodities on the world marketplace are priced in U.S. dollars. When the dollar depreciates against the other currencies, it makes commodities cheaper to purchase with non-U.S. currency………………………………………..Full Article: Source

LBMA says banks back its plan to change London gold market

Posted on 19 August 2016 by VRS  |  Email |Print

Members see an electronic trade repository as the best way to improve transparency. The body charged with regulating London’s $5tn a year gold market says banks in the city are backing its plans to bring greater transparency to the market as the London Metal Exchange prepares to launch a gold futures exchange.
Ruth Crowell, head of the London Bullion Market Association, said its members, which include some of the world’s biggest banks, see an electronic trade repository as the best way to improve transparency and address regulatory pressure that is threatening to drive up costs………………………………………..Full Article: Source

Gold demand surges amid fears for world economy

Posted on 18 August 2016 by VRS  |  Email |Print

Demand for gold jumped in the wake of the Bank of England’s decision to cut interest rates earlier this month, the Royal Mint has revealed. Sales of gold bars and coins jumped by half, while transactions of the precious metal leapt by a quarter as rates were chopped to 0.25 per cent.
Gold prices have soared by around 25 per cent this year - or 45 per cent in sterling terms, thanks to the weakened pound - from $1,060 to $1,330, amid investor fear of stock market turmoil. The bullion is seen as one of the safest places for cash in times of economic fear and turmoil, and comes amid numerous signs the global economy is slowing down………………………………………..Full Article: Source

Global demand for gold will continue to remain strong, and price higher: Experts

Posted on 18 August 2016 by VRS  |  Email |Print

The global economic crisis will continue to drive the demand for gold and silver worldwide. Bullion experts at the India International Gold Convention (IIGC) organized by Foretell Business Solutions unanimously expressed that global demand will continue to remain strong, and price higher.
Ultra-low real interest rates in the USA and elsewhere will continue to drive the demand for both the metals globally. Gold is expected to remain above $1270 per ounce, while silver will continue to remain above $17 per ounce in London market. “In India, demand will pick up in the second half of calendar 2016 after a dismal first half………………………………………..Full Article: Source

Here’s One Reason Why Gold Could Soon Skyrocket by 48.15%

Posted on 18 August 2016 by VRS  |  Email |Print

If you are looking for the next big trade, look at gold prices. The yellow precious metal is trading at severely low prices, and it may be set to provide massive gains. As it stands, there’s a gold rush in play, and no one is talking about it. We see consumers, investors, and central banks running to buy the precious metal. In the process, they could send gold prices through the roof.
Consider this: in the second quarter of 2016, central banks purchased 77 tonnes of gold. This amount is down year-over-year, but keep in mind that they have been net buyers of the precious metal for a very long time………………………………………..Full Article: Source

Spectacular Chinese Gold Demand 2015 Fully Denied By GFMS And Mainstream Media

Posted on 18 August 2016 by VRS  |  Email |Print

Debunking the Thomson Reuters GFMS Gold Survey 2016 report. New information provides a more detailed perspective on the Chinese domestic gold market. In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes.
As Chinese wholesale demand, measured by withdrawals from Shanghai Gold Exchange designated vaults, accounted for 2,596 tonnes in 2015 the difference reached an extraordinary peak for the year. ……………………………………….Full Article: Source

How to invest in gold bars, bullion and investment funds

Posted on 18 August 2016 by VRS  |  Email |Print

There’s been a surge in demand for gold as interest rates fall. Here’s how you can put your money into it and what it might cost. The recent Bank of England Base Rate cut has led to a surge in demand from people wanting to invest in gold, says the Royal Mint.
It saw a 25% increase in transactions on its bullion website in the first week of August, as well as a 50% increase in sales of gold bars and coins, compared to the previous week. Falling returns on cash and bonds as a result of the Bank of England’s decision to cut rates is thought to be making investors turn to gold………………………………………..Full Article: Source

Is George Soros Calling a Top in Gold?

Posted on 17 August 2016 by VRS  |  Email |Print

George Soros is getting out of gold. The billionaire investor jumped back into trading this year with a big bet on the precious metal, buying up a 19-million share stake in the world’s largest gold producer, Barrick Gold But in the second quarter, Soros Fund Management sold the majority of his shares in the gold miner and his full stake in mining company Silver Wheaton, according to regulatory filings.
The first-quarter bet on gold looked particularly prescient, as the precious metal has rallied 26% this year………………………………………..Full Article: Source

What’s Currently Driving Gold?

Posted on 17 August 2016 by VRS  |  Email |Print

Precious metals have seen a tremendous rise in price, mostly due to a lower possibility of a US interest rate hike. Added uncertainty in the Markets due to the Brexit vote and other start-of-the-year issues such as the crude oil rout and the Chinese turbulence also played on gold. As a result, these triggered the haven appeal.
Gold and silver have risen about 26% and 43%, respectively, this year. Expectations that the Federal Reserve will hold off further interest rate hikes gave these metals some breathing room. The higher rate of interest offered on Treasuries raised the opportunity cost of holding non-yield-bearing precious metals………………………………………..Full Article: Source

TD Securities: Safe-Haven Interest In Gold To Continue

Posted on 17 August 2016 by VRS  |  Email |Print

TD Securities looks for any downward correction in gold to be contained and for safe-haven buying to continue. The metal has risen sharply this year but has been range-bound lately, with market worries about potential Federal Reserve rate hikes returning, causing some funds to liquidate positions, TDS says.
“Still, the risk of an equity correction and negative yields for some $13 trillion worth of fixed-income assets should see safe-haven interest in gold continue,” TDS says. “This should make any correction well contained………………………………………..Full Article: Source

Gold prices have nowhere to go but up: Jim Rickards

Posted on 16 August 2016 by VRS  |  Email |Print

Gold prices can go nowhere but up as central banks around the world try their utmost to spur inflation, author and gold market expert Jim Rickards said.
“Every central bank in the world says they want inflation…they’ve come nowhere close…but that just means they are going to keep on trying; central banks cannot allow deflation because it increases the real value of debt… they are not going to rest until they get it,” The James Rickards Project director said………………………………………..Full Article: Source

Gold headed to $1,500

Posted on 16 August 2016 by VRS  |  Email |Print

The gold price is trading slightly higher today as another major bank joined calls that the precious metal is heading higher in the nearest future. In a report published earlier in the week, analysts at RBC Capital Markets said they are increasing their forecast for gold next year, and expect the price to reach US$1,500 which is well up from their previous prediction of US$1300, although they see prices pulling back to US$1,300 by 2020.
They noted that global fears surrounding Brexit as well as expectations that the US Federal Reserve will hold off lifting interest rates this year, putting pressure on the US dollar will see the Gold price move higher………………………………………..Full Article: Source

Gold losing appeal for investors retreating from rally bet

Posted on 16 August 2016 by VRS  |  Email |Print

Investors are growing more skeptical of gold’s lasting luster. Hedge funds and other speculators cut their wagers on a bullion rally for the fourth time in five weeks. As traders tire, the metal’s 30-day historical volatility has dropped to the lowest since November. Open interest is also on the decline.
After stunning gains to start the year, bullion has started to lose its momentum. Prices are down about 1% in August as the US economy picks up steam, damping demand for a haven. American payrolls surged in July and wages climbed, pointing to renewed optimism that the jobs market will sustain consumer spending in the second half of 2016………………………………………..Full Article: Source

RBC adds $200 to its gold price forecast

Posted on 15 August 2016 by VRS  |  Email |Print

Gold has been treading water above the $1,340 an ounce level recently, coming off two-year highs hit earlier in August. Year to date the metal has gained almost 26% or more than $280 an ounce. It’s been gold best first half run since 1980 when the price hit an all-time high on an inflation adjust basis.
The rally has surprised many analysts and at the start of the year the vast majority of investment and institutional analysts predicted gold would dip below $1,000 during the course of the year and average below last year’s uninspiring $1,160 an ounce………………………………………..Full Article: Source

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