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Precious Metals News | Making Cents
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Archive for the ‘Precious Metals News’ Category:

Next move in gold will be big, Hinde Capital’s Davies tells King World News

Next move in gold will be big, Hinde Capital’s Davies tells King World News

Dear Friend of gata.org and Gold:

As currency debasement increases, gold will be the only collateral to survive in the world financial system, Hinde Capital CEO Ben Davies tells King World News today. Government intervention against gold will be overwhelmed by the market at some point, Davies says, and the market seems short right now. His gold price target for the next move is. … Well, it’s a big target, so why spoil the fun? An excerpt from the interview is posted at the King World News blog here: Ben Davies – This Move In Gold Will Take It To $2,400 -$2,500

Cramer video says buy gold! We agree however we do not trust ETF’s.

Cramer video says buy gold! We agree however we do not trust ETF’s. Buy the metal and have it in your posession.
Watch Cramers Video here:

http://www.thestreet.com/story/11710595/1/cramer-transcript-golds-next-rally.html?cm_ven=GOOGLEN

Traveling Gold Buying Operation Generates Complaints Across The Country

Traveling Gold Buying Operation Generates Complaints Across The Country

“The tight economy is forcing a lot of people to sell their family heirlooms, especially their gold. But one of the largest operations, setting up shop at hotels across the country, is being accused of fraud.”

Read More Here: Traveling Gold Buying Operation Generates Complaints Across The Country

China Overtakes India as Top Gold Consumer

China Overtakes India as Top Gold Consumer

“LONDON—China took over from India as the world’s top consumer of gold in the first quarter of this year, cementing expectations that China will be the dominant buying force in the gold market in 2012, the World Gold Council said Thursday.
Indian gold demand dropped 19% on the year in the first three months of 2012, to 207.6 metric tons. The domestic gold sector was rattled by strikes following the announcement of new taxes on the gold trade and weakness in the Indian rupee made dollar-denominated gold more expensive for Indian buyers.In contrast Chinese gold demand rose 7% in the same period, to 255.2 tons, according to the WGC.Between them, China and India accounted for 54% of global gold demand in the first quarter.”

Read More Here : China Overtakes India as Top Gold Consumer

A Note From The Owner

Silver has popped below $30.00 per oz

Gold has dropped below $1600.00

In our opinion is an excellent opportunity to buy in at cheaper levels before the market explodes again.

You can watch prices here: thebulliondesk.com

If you have been waiting for lower prices, here they are. If you have not bought at all, here is a good opportunity.

No one knows for sure however my 30+ years of doing this tells me that below $1600 gold and $30 Silver levels they are a good buy and you could do very well down the road.

Need help on figuring what and where, email or call us.

Fickle gold and silver prices – a pragmatist’s viewpoint

Fickle gold and silver prices – a pragmatist’s viewpoint
“For whatever reason gold and silver prices have been falling recently, but this may be irrelevant in the long term scheme of things”

“Overall it would appear to the pragmatic observer that gold and silver are not through their bull runs yet as the global financial turmoil is far from over. The current gold (and silver) price hiatus is because many see the Eurozone crisis, which is the most newsworthy at the moment, as deteriorating further, but those fleeing it financially are putting their trust in the US dollar rather than gold. Given the U.S.’s own economic problems, which are neatly being hidden from public perception in the runup to this year’s Presidential election, this has to be a pretty shortsighted viewpoint and will surely come to an end before too long. When it does both gold and silver will likely resume their overall upwards trend – but probably not as rapidly as the major gold and silver bulls would have you believe.”

Read more here: Fickle gold and silver prices – a pragmatist’s viewpoint

Silver Producers: A Call to Action

Silver Producers: A Call to Action
By: Eric Sprott & David Baker

“As we approach the end of 2011, the silver spot price has admittedly endured a tougher road than we would have expected. And let’s be honest – what investment firm on earth has pounded the table on silver harder than we have? After the orchestrated silver sell-off in May 2011 (please see June 2011 MAAG article entitled, “Caveat Venditor”), silver promptly rose back to US$40/oz where it consolidated nicely, only to drop back below US$30 within a two week span in late September.1 The September sell-off was partly due to the market’s disappointment over Bernanke’s Operation Twist, which sounded interesting but didn’t involve any real money printing. Like the May sell-off before it, however, it was also exacerbated by a seemingly needless 21% margin rate hike by the CME on September 23rd, followed by a 20% margin hike by the Shanghai Gold Exchange – the CME’s counterpart in China, three days later.”

Read more here: Silver Producers: A Call to Action

Paper Trading & Manipulation in Precious Metals

One Comex contract for silver is for 5,000 ounces.
Average inventory of silver available for delivery is 30M ounces.
Silver production for the year is about 800M ounces a year.
Supposedly more than 45 thousand contracts traded on Feb. 29 or about 255M ounces.
In a matter of hours, paper silver sold 8.5 times more than inventory available for sale.

So do I believe that the silver market is manipulated?

Read more here: Paper Trading & Manipulation in Precious Metals

Central banks snap up gold after price pressure

“(Reuters) – The fall in gold prices has prompted one or more central banks to buy as much as four tonnes of bullion in recent weeks, according to an industry source and a Financial Times report on Friday.”

Read more here: Central banks snap up gold after price pressure

Physical Gold Buyers Win The Day, Shorts Retreat

“So while the precious metals market may appear quiet on the surface, there are some meaningful crosscurrents going on underneath. Today’s action is another good example that the paper shorts can only push the gold and silver market so far, even with news that should have helped them pressure prices….

“That limit – which we have seen time and again over the years – is when the demand for physical metal starts to overpower the selling pressure in futures, forwards, options and other markets for paper-gold, which is what we saw today.

I think more and more people are starting to recognize this seemingly endless daisy-chain, Eric. Banks gets bailed out by governments, and then governments get bailed out when banks buy their paper. Central banks provide the grease to make it all happen with their ongoing money printing. For example, Spanish banks are borrowing EUR 152 billion from the ECB, three times the amount from one year ago.

So in the end, nothing gets resolved. All the bad debts remain. Even worse, more debt is added creating an ever greater burden. That is not a solution, and as I have said before, the so-called ‘can’ the central planners have been kicking down the road is now a 2-ton boulder.

It is only a matter of days – or weeks at most – before more banks and governments strap on the ECB’s bottomless feedbag to try keep their head above water. But importantly, money printing does nothing to fix so many insolvent banks – and insolvent governments too – here in Europe.

The next step for the precious metals, Eric, is to start probing overhead resistance. There are two levels to watch on silver, with $34 coming first, but the critical level, of course, is the $35 level we’ve been talking about for months now.

The key areas for gold are $1,700 first followed by the $1,800 level. If gold can decisively break above $1,800, the big move I have been expecting will be well under way. There is a fly in the ointment here. Next week is the important gold option expiry and we know from past experience that the shorts try to pressure prices during expiration.”

Read more here: Physical Gold Buyers Win The Day, Shorts Retreat


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