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Gold & metals
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bsiong
Supreme |
22-Sep-2014 22:52
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
 Despite Pressure, Is Silver Ready To Turn Mega-BullishAlways remember, those who manipulate the price of Gold & Silver always want you to sell when you should buy & v... Read More |
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bsiong
Supreme |
22-Sep-2014 22:45
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Morning Gold & Silver Market Report - 9/22/20149/22/2014 8:22:47 AM By: Ryan Schwimmer
GOLD PRESSURED CHINESE DATA WORRIES INVESTORS Federal Reserve interest rate speculation is driving the price of Gold down slightly in early-morning trade. The Silver price is likewise down after a large drop Friday. Heraeus said in a note, " (Silver) continues to be in a downward channel currently, without any arguments for a sustained upward development. ETF holdings have also experienced a small setback in the course of the past week. Instead of going bargain hunting, even Asia put itself on the selling side this morning." U.S. stock futures are pointing to a lower open for Wall Street as concerns out of China resurfaced. A key index out of Hong Kong fell to two-month lows, and all eyes are now on HSBC' s estimate of China' s purchasing managers index due later today. Some investors worry that the index will indicate economic contraction in the emerging market, and the Chinese government has already committed against monetary easing. Stuart Beavis of Vantage Capital Markets said, " We' re not going to see this wall of money thrown at the Chinese slowdown." At 9 a.m. (ET), the APMEX Precious Metals spot prices were:
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nohype
Member |
22-Sep-2014 19:21
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x 0
x 0 Alert Admin |
Ron Paul, Former US Senator,(14 Sep 2014): On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank (SNB) from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the SNB' s assets. Arising from popular sentiment similar to movements in the United States, Germany, and the Netherlands, this referendum is an attempt to bring more oversight and accountability to the SNB, Switzerland' s central bank.
The Swiss referendum is driven by an undercurrent of dissatisfaction with the conduct not only of Swiss monetary policy, but also of Swiss banking policy. Switzerland may be a small nation, but it is a nation proud of its independence and its history of standing up to tyranny. The famous legend of William Tell embodies the essence of the Swiss national character. But no tyrannical regime in history has bullied Switzerland as much as the United States government has in recent years. The Swiss tradition of bank secrecy is legendary. The reality, however, is that Swiss bank secrecy is dead. Countries such as the United States have been unwilling to keep government spending in check, but they are running out of ways to fund that spending. Further taxation of their populations is politically difficult, massive issuance of government debt has saturated bond markets, and so the easy target is smaller countries such as Switzerland which have gained the reputation of being &ldquo tax havens.&rdquo Remember that tax haven is just a term for a country that allows people to keep more of their own money than the US or EU does, and doesn' t attempt to plunder either its citizens or its foreign account-holders. But the past several years have seen a concerted attempt by the US and EU to crack down on these smaller countries, using their enormous financial clout to compel them to hand over account details so that they can extract more tax revenue. The US has used its court system to extort money from Switzerland, fining the US subsidiaries of Swiss banks for allegedly sheltering US taxpayers and allowing them to keep their accounts and earnings hidden from US tax authorities. EU countries such as Germany have even gone so far as to purchase account information stolen from Swiss banks by unscrupulous bank employees. And with the recent implementation of the Foreign Account Tax Compliance Act (FATCA), Swiss banks will now be forced to divulge to the IRS all the information they have about customers liable to pay US taxes. On the monetary policy front, the SNB sold about 60 percent of Switzerland' s gold reserves during the 2000s. The SNB has also in recent years established a currency peg, with 1.2 Swiss francs equal to one euro. The peg' s effects have already manifested themselves in the form of a growing real estate bubble, as housing prices have risen dangerously. Given the action by the European Central Bank (ECB) to engage in further quantitative easing, the SNB' s continuance of this dangerous and foolhardy policy means that it will continue tying its monetary policy to that of the EU and be forced to import more inflation into Switzerland. Just like the US and the EU, Switzerland at the federal level is ruled by a group of elites who are more concerned with their own status, well-being, and international reputation than with the good of the country. The gold referendum, if it is successful, will be a slap in the face to those elites. The Swiss people appreciate the work their forefathers put into building up large gold reserves, a respected currency, and a strong, independent banking system. They do not want to see centuries of struggle squandered by a central bank. The results of the November referendum may be a bellwether, indicating just how strong popular movements can be in establishing central bank accountability and returning gold to a monetary role. |
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hlfoo2010
Master |
22-Sep-2014 11:04
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x 0
x 0 Alert Admin |
Green ' Alien Eggs' Found on Sydney Dee Why Beachhttps://sg.news.yahoo.com/ufo-alert-scientists-puzzled-green-alien-eggs-found-203210484.html |
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yingli
Veteran |
22-Sep-2014 11:03
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x 0
x 0 Alert Admin |
BMM You got buy gold also???
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Bigmama
Elite |
22-Sep-2014 11:01
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x 0
x 0 Alert Admin |
Hope to see a dragonfly soon. | ||||
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cccx123
Elite |
22-Sep-2014 10:48
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x 0
x 0 Alert Admin |
I have negligible holdings of Gold. I factored in the premiums also lol. Otherwise maybe also 4 digits. Silver average cost at around $28-29 and buy back price from GSC is like $23. Lost a cool $6 on every ounce of silver. 😱
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NoMoney
Master |
22-Sep-2014 10:19
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x 0
x 0 Alert Admin |
my physical value lost about 4 digit in silver... gold not much lost yet only 3 digit
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NoMoney
Master |
22-Sep-2014 09:59
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x 0
x 0 Alert Admin |
last support for silver 17.20+ |
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cccx123
Elite |
22-Sep-2014 09:50
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x 0
x 0 Alert Admin |
My paper loss now well into 5 digits already. Very sian. Just bought another couple of ounces but the sinking feeling is really sharp, although I had warned myself of such a possibility when I started to invest in silver.
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Bigmama
Elite |
22-Sep-2014 09:48
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x 0
x 0 Alert Admin |
Silver down 2.5% now. Guess my 5 % drop will come very soon
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Bigmama
Elite |
22-Sep-2014 09:44
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x 0
x 0 Alert Admin |
Silver is going down fast. | ||||
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NoMoney
Master |
22-Sep-2014 08:37
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x 0
x 0 Alert Admin |
then good news to gold and silver investers but bad news for gold miner stocks and again good news for those who want to invest in gold miner stocks. profit for gold and silver must be long term or u can keep and pass down to your children. 15yrs ago 100g gold was about $2-3k, now est min4.8k-6.5kpeak
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bsiong
Supreme |
22-Sep-2014 07:57
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
By Vronsky - September 21, 2014
It' s Official: China consumed, mined and imported the most gold ever in 2013. In all three gold categories the Sino nation is Number One Worldwide. Here are details.China has been officially crowned the world&rsquo s largest gold market for the first time in history,...
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bsiong
Supreme |
22-Sep-2014 07:56
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
By Jim Mosquera - September 21, 2014
Inflation and deflation are two of the most misunderstood economic conditions. The recognition of each is typically gauged with prices. Higher prices mean inflation. Lower prices mean what exactly? We never see lower prices do we? My economic laws tell us much...
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bsiong
Supreme |
22-Sep-2014 07:53
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
Fed Sends Gold Sharply Lower- Death Cross Warns of Further Losses By Michael Boutros, Currency Strategist 19 September 2014 00:47 GMT 
Fundamental Forecast for Gold:Bearish
Gold prices are softer this week with the precious metal off by 1.13% to trade at $1215 ahead of the New York close on Friday. The decline marks the third consecutive weekly loss for bullion with persistent strength in the greenback keeping pressure on commodities based in US dollars. The losses were especially severe in the precious metals with platinum down 2.47%, palladium down 3.12% andsilver down more than 4% on the week. The FOMC' s September rate decision was central focus this week and fueled a surge in volatility as the Central Bank retained its pledge to keep its highly accommodative stance for an extended period of time. Even though the Fed' s updated forecasts showed a narrowing corridor from the June projection, interest rate expectations jumped as Richard Fisher joined Charles Plosser to vote against the dovish tone surrounding the forward-guidance for monetary policy. With that said, the final 2Q GDP report is expected to show another upward revision to reflect an annualized 4.6% rate of growth, and the data may further boost interest rate expectations as the growing rift within the committee suggests that the central bank may be preparing to shift gears at the October 29. From a technical standpoint, gold broke below support at $1229 this week and our broader outlook remains weighted to the downside while below $1243. Note that a death cross has been identified with the 50-day moving average breaking below the 100 for the first time since late May. In that instance gold saw a near 4% decline before recovering in early June. Look for key support at $1203/06, a region defined by the December 31st close (day the yearly low was made) and the 88.6% retracement of the advance into this year' s high. A break below this level keeps our bias in play eyeing subsequent support targets at the 100% Fibonacci extension off the 2014 high at $1193 & the 2014 low at $1178. -MB DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. |
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jcbull
Senior |
22-Sep-2014 00:20
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x 0
x 0 Alert Admin |
My take is that this will be bullish for gold. As more miners shut down, supplies will be reduced and based on demand-supply theory, price will shoot up. Once mines are shut, they will take time to re-start and hence, there will be a period when the supply not able to meet demand, this creates the opportunity for price to rocket. However, this will not be true for silver. As typically silver is a by-product of other metals mining, there will not be any upward price pressure due to price below cost situation. So, watch gold price instead of silver. Silver price has been below production cost for some times. But not for gold price that had rebounced twice from the below 1200 low. Some big gold mining companies adopted the strategy of mining highly densed/concentrated (high grade) gold mines during this period to bring down the production cost. However, for long term, this cannot be sustained as highly densed mines will be depleted and leave behind those low grade gold mines. My take is that gold likely will not stay below 1200 and if it does, it won' t be long.
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explosive2013
Master |
21-Sep-2014 22:32
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x 0
x 0 Alert Admin |
what is the implication if all miner close down and stop production.
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bsiong
Supreme |
21-Sep-2014 22:06
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
 Gold Could Be The Beneficiary Of Today' s Asset Bubbles - Jeff NicholsJeff Nichols warns that optimism about US economy may be misplaced as OECD has cut its growth projections for US and oth... Read More |
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bsiong
Supreme |
21-Sep-2014 22:02
Yells: "The Greatest Wealth is Health" |
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x 0
x 0 Alert Admin |
 The Chart Every Silver Investor Should SeeThere is a chart that every Silver investor needs to see. Especially now, Even though precious metals sentiment is at r... Read More |
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