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A Vision Of Gold

Discussion in 'Gold Silver (All things Metal)' started by searcher, Sep 2, 2016.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Sweden’s Gold Reserves: 10,000 gold bars shrouded in Official Secrecy
    By: Ronan Manly
    In early February 2017 while preparing for a presentation in Gothenburg about central bank gold, I emailed Sweden’s central bank, the Riksbank, enquiring whether the bank physically audits Sweden’s gold and whether it provide me with a gold bar weight list of Sweden’s gold reserves (gold bar holdings). The Swedish official gold reserves are significant and amount to 125.7 tonnes, making the Swedish nation the world’s 28th largest official gold holder.
     
  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    GOLD! New California Gold Rush - Reading from The Treasure of the Sierra Madre
    Junius Maltby



    Published on May 5, 2017
    New Gold in California! Junius Maltby reads from The Treasure of the Sierra Madre. Enjoy!
    JUNIUS MALTBY CHANNEL. SUPPORT: https://www.patreon.com/JuniusMaltby

    **FAIR USE STATEMENT**
    This video may contain copyrighted material the use of which has not been specifically authorized by the copyright owner. This material is being made available within this transformative or derivative work for the purpose of education, commentary and criticism, is being distributed without profit, and is believed to be "fair use" in accordance with Title 17 U.S.C. Section 107.

    For more information go to: http://www.law.cornell.edu/uscode/17/
     
  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Gold Coins, Bars In Demand – +9% In Q1, 2017

    -- Published: Monday, 8 May 2017

    – Global gold demand in Q1 2017 was 1,034.5t
    – Total demand -18% from record high levels in Q1, 2016
    – Demand for coins and bars up 9% yoy to 290 t
    – UK demand for coins, bars at highest since Q2 2013
    – ETF inflows fell by 2/3, account for overall -18% fall in demand
    – European uncertainty brings gold investors to market
    – Innovation continues to drive gold demand in China
    – Peak Gold: Mine production likely to drop


    [​IMG]

    Global gold demand driven by climb in bar and coin investment

    Uncertainty in Europe increased demand for gold investment products in the first quarter of the year, according to the World Gold Council’s Gold Demand Trends Q1, 2017 report.

    Across the globe a mixture of festivities and renewed safe haven buying saw demand for gold bars and coins climb by 9%.

    [​IMG]

    Demand for physical investment products helped to reduce the the overall fall in gold demand, which came in at 18% yoy, across investment, jewellery and central bank demand.

    In all, global gold demand across a number of measures points towards a world that is uncertain and to ongoing safe haven demand. In some cases such as in the US, EU and China, demand remains robust whereas in the likes of Turkey demand is down from record levels.

    Much of this is thanks to geo-political uncertainty and political upheaval.

    Political uncertainty in Europe has helped to increase demand for gold bullion. Elections (upcoming and past) in the UK, Netherlands, France and Germany have helped to buoy investment in safe haven gold. German gold bar and coin demand had its strongest first quarter since 2011 – 13% yoy to 34.3t, but this must not take away from the UK which hit its highest level since Q2 2013.

    China (discussed in full below) was a major contributor to the uptick in demand for gold bars and coins, posting a 30% gain. As with its European counterparts, there is much uncertainty over the economic situation of the country and both investors and retailers alike are able to match these feelings with gold purchases.

    Politics, uncertainty and gold prices make for a mixed bag of jewellery

    When it comes to jewellery, demand was mixed across the board but overall very low, compared to recent years. Demand was 18% below the 587.7t five year quarterly average. The 9% climb in the USD gold price, meant that there is overall long-term weakness in the sector.

    Whilst uncertainty can be a positive driver for gold demand, this combined with a high gold price in Turkey saw demand for jewellery sink to a four year low of 7.7t. The looming referendum (held in April) combined with the fact that the price of gold in lira rose more than in any other currency during Q1 (+12%), meant that the fragile political and economic conditions continued to impact the sector.

    The WGC state that “The outlook for the [Turkish] market is weak” and this is expected to continue as both economic and political reforms keep both uncertainty and the gold price high.

    In the United States however, a feeling of relief following the US election propelled jewellery demand to its strongest Q1 since 2010 – it rose 3% to 22.9t. The WGC refers to a climb in ‘clicks and mortar’ (online) purchases. There is little doubt that the election hasn’t increased uncertainty, but it seems there is a calm before the storm element to purchasing decisions.

    In Europe, both the UK and France let the side down when it came to jewellery demand, which fell 6% in the Fifth Republic. Much of the fall was down to uncertainty in the run-up to elections and a spate of terrorist attacks.

    It seems many buyers are favouring ‘branded silver’ in their jewellery purchases. In the same way that silver coin and bar buyers see silver as better value than gold – it seems that jewellery buyers also may be attracted to getting better value with silver.

    Investment is better than jewellery – even for romantics

    On Valentine’s Day we discussed the problems with buying jewellery as an investment. Jewellery is a terrible investment due to the significant mark-up at the point of sale, ‘valued added’ (VAT) and sales taxes and it’s very poor resale value. We suggested that romantics buy gold coins and bars for their loved ones instead.

    This advice was perhaps heeded even after Valentine’s Day as gold bars and coins had an excellent quarter, with 289.8t of demand (+9% yoy). Much of this was thanks to China, where safe haven flows, tech innovation and Chinese New Year is helping to push demand (see below).

    The WGC accounts much of the increase in coin and bar demand to the ‘strength of the retail investment market’ internationally. Companies such as GoldCore are seeing very strong demand – particularly for allocated and segregated storage for risk averse investors looking to own in gold bars and coins.

    The feeling of uncertainty and uncertain outlook does appear to be driving demand and this is a trend we suspect we will continue to see. Whilst elections have been, or will soon be decided, that does not guarantee the economic result, investors are aware of this and stocking up on gold accordingly.

    Gold ETFs failed to benefit as much as physical gold

    Whilst ETF inflows did not experience the same surge as gold bar and coin demand, US demand was strong. As the WGC points out, geopolitical tensions were ‘more of a concern for European based investors than for their US counterparts.’

    The report refers to the positivity in the US towards gold, and that the speculative buying seen in 2016 has been ‘reversed in the November/December washout’ leaving strategic investors behind. Having said that the only net inflows were in February, ‘sandwiched between’ outflows in January and March.

    Collectively in Europe we make for a worried bunch. Europeans increased inflows in gold ETFs, as we saw with gold bar and coin demand.

    As summarised by the WGC, we are surrounded by both economic and political uncertainty which, with some dips in the gold price, meant we could increase our exposure to gold:

    ‘On top of a fragile political environment, conditions in financial markets gave investors a further incentive to build their positions in gold-backed ETFs. Safe haven flows pushed two year German yields further into negative territory, reaching a record low of 0.95% in February. And European equity markets were subdued with volatility at multiyear lows. Negative real and nominal yields coupled with a period of relative calm in regional stock markets improved the appeal of gold, particularly as its price strengthened through the quarter. The dips in the euro denominated price of gold in January and March were also taken as a good opportunity to add it to portfolios.’

    Gold ETF holdings grew tremendously in 2016. 2017 has failed to keep up as of yet. Inflows were just one-third of those seen in Q1 2016. Unsurprisingly the WGC do not seem unduly worried, despite pointing towards the fact that Q1’s figures might be pointing to a wider financial issue, ‘inflows of 109.1t are in line with quarterly average between Q1 2009 and Q4 2011 (108.7t), a period that encompassed the global financial crisis.’

    Whilst calm is often seen settling across a market after a surge such as that seen in 2017, we wonder if we will continue to see a slow-down in ETF inflows, especially if averages such as these have not been since since the financial crisis.

    Earlier this week we wrote about the tenuous London property market and asked if this was an indicator of a bubble about to burst, setting off a domino affect around the world. This would obviously lead to even greater safe haven flows and demand.

    Innovation holds key to future of China’s gold market

    Whilst the gold market is one of the oldest in the world, it is markedly different from how it once began.

    Gold bullion dealers and jewellery sellers have made a concerted effort to keep up with innovations across the technological, investment and retail spaces. This is more important today than it has ever been.

    In China, there has long been concern that China’s millennial population will not look at gold in the same way as their elders do. The WGC cites research from Agility Research & Strategy which shows the top three priorities for young Chinese are ‘health, travel and spending time with the family’. This, combined with concerns over the economy, has prompted worries for the future of the world’s largest gold market.

    However, innovation both technological and in marketing suggests that the Chinese gold market has a resilient and fruitful future. As the WGC writes, “the industry is keen and determined to adapt – an attitude that should help stem any weakness.”

    In the jewellery space, where demand was slightly down by 2% thanks to high gold prices following Chinese New Year, sellers are providing services and products to keep up with today’s younger generations – such as more modern 18k gold jewellery pieces, rather than the traditional 22k gold designs. In a perhaps more reflective sign of the times, sellers of bridal jewellery are ‘offering customers a no-cost exchange option on jewellery from its bridal range.’

    Jewellery demand may have experienced a small decline, but gold bars and coins saw a 30% increase (yoy), its fourth best quarter on record. We would generally expect the first quarter of the year to be a strong one for China, given their New Year, however it was this combined with concerns regarding the economy (falling yuan and property market) that drove demand to 105.9t.

    Some of this stellar demand can be attributed to the innovation appearing in the local gold market, namely interest-paying gold accounts, benchmarked on the Shanghai Gold Exchange (SGE)’s AU9999 contract with a minimum entry point of one gram. It is traded online, with an option for physical delivery – all important for Chinese investors.

    Online developments continue with 800 million WeChat users being given access to MicroGold, a physical gold-backed product offered by ICBC. Digital gold can be traded between individuals, online, supporting festivals and culturally significant events with ‘red envelopes.’

    These moves, combined with recent changes supported by the government have lead to an imbalance between supply and demand. Premiums have shot up over global gold price in recent month, they averaged $17/oz in Q4, 2016, and averaged down to US$14.2/oz.

    [​IMG]

    India, cashless push was merely a setback but innovation required

    India had a tumultuous year last year, the second-half of 2016 saw Modi take the country by surprise when he announced the removal of old Rs 500 and Rs 1,000, throwing millions of people into financial chaos. The announcement was particularly badly timed due to wedding season which is vital to the country’s gold industry.

    Since then gold demand has managed to find some calm. Whilst global jewellery demand remains weak with just a 1% increase in Q1 India has propped it up, despite rising gold prices, posting a 16% gain.

    The 16% gain isn’t really much to shout about, given it is only the third quarter this decade where demand has come in at less than 100t (92.3t). There is still some wariness in terms of how the next phase of remonetisation will play out, combined with uncertainty over the forthcoming Goods & Service Tax (GST), which is dampening demand somewhat.

    We would suggest that there is something to be learnt both at the business and political level when it comes to innovation in the gold market. This is perhaps coming to pass as the WGC’s field research found that not only are consumers gradually adopting cashless payments, but cashless transactions are ‘gathering momentum’. Retailers such as Tanishq reported a ‘quite significant recovery’ in Q1, on account of cashless transactions.

    At this point we should issue a word of warning, as we did when India announced its move to cashless and the topic became the point of discussion in economic circles. Whilst cashless is publicised as a way to make economies more efficient, to reduce tax evasion and to prevent other criminal activities it is also there to serve an ulterior motive – as we wrote a few month’s ago:

    “A cashless world means a transparent world, which is great if terrorists were the only ones using cash. But they’re really not, so a cashless world means transparent bank accounts which means restricted banks accounts.”

    This is perhaps yet another reason why gold demand is recovering in India.

    Trivial sales in Central Bank demand

    Whilst purchases buy central banks slowed, they remained robust – especially from Russia and China – and central bank sales remain nearly non existent and are set to do so.

    [​IMG]

    Quarterly net purchases were 76.3t (a six year low) and a 27% fall yoy. Russia and Kazakhstan were the main buyers in the quarter.

    China’s gold reserves still represent just 2% of their total reserves, despite not adding to the reserves since October 2016. The ratio hit 2.4% in Q1, its highest point since the early 2000s and the reason perhaps for no further purchases since 2016. It is also worth noting the pressure their FX reserves have felt for some time having dropped from US$3.2 trillion in January 2016 to US$3 trillion in January 2017.

    Peak Gold: Mine production likely to drop

    There are many tidbits of information in the WGC’s report about overall mine production in Q1 2017.

    Indonesia accounted for the largest impact on the fall in production, thanks to a fall on 8t from its Grasberg region. There were also some areas of growth, however physical gold investors mainly need to be aware of the following summary from the WGC:

    [​IMG]
    “Having plateaued in recent years, mine production will soon enter a period of decline. The production profile of currently operating mines shows a relatively steep drop-off over the next 5 to 10 years. Even factoring in high probability projects (those highly likely to reach commercial production), the fall in production is still significant.”

    The negative feeling from the WGC is attributed to cuts in capital expenditure but most importantly the fact that there just aren’t that many new discoveries of gold.

    “Inevitably, the supply pipeline will be squeezed…The speed at which production will fall is uncertain. As existing reserves are depleted, the current project pipeline will be unable to replace them fully.

    Over the longterm, the global production profile will depend on the trajectory of the gold price and potential exploration upside, particularly the speed with which brownfield exploration can be brought into production”

    Conclusion: Buy physical gold – not making much more of it

    The news that gold production is falling and the near certainty that production levels will fall in the coming months and years should be enough to encourage investors to buy gold.

    Even if political and economic turmoil weren’t a factor in every major country, gold demand would still be pertinent thanks to the issue of peak gold.

    However, it is the imminent feeling of uncertainty and growing instability which is driving investors to allocate more of their investment and pension portfolios to gold bars, coins and ETFs.

    The motto ‘Stay calm and carry on’ is no longer relevant, it should be ‘stay calm and buy gold’.

    News and Commentary

    Gold up on buying, euro strength after Macron’s win in France (Reuters.com)

    Euro Edges Higher as Macron Beats Le Pen in French Election (Bloomberg.com)

    Lower gold prices bolster gold demand; premiums rise in India, China (Reuters.com)

    Chinese demand for gold bars and coins soars in first quarter (People.cn)

    Hong Kong exchange operator hopes for third time lucky when it comes to gold futures (SCMP.com)

    China gold reserves unchanged at end-April (Reuters.com)

    [​IMG]

    Gold Demand Trends Q1 2017 (Gold.org)

    Gold-Futures Shorting Attacks (321Gold.com)

    Jaw-Dropping 4,700 Tonnes Of Paper Silver Sold In Just 2 Hours (KingWorldNews.com)

    Attacks on gold don’t come from mere ‘speculators’ (Gata.org)

    Greatest Ponzi Scheme in History (DailyReckoning.com)

    Gold Prices (LBMA AM)

    08 May: USD 1,229.70, GBP 948.71 & EUR 1,123.45 per ounce
    05 May: USD 1,239.40, GBP 958.06 & EUR 1,130.33 per ounce
    04 May: USD 1,235.85, GBP 958.15 & EUR 1,131.05 per ounce
    03 May: USD 1,253.95, GBP 971.18 & EUR 1,148.99 per ounce
    02 May: USD 1,255.80, GBP 974.25 & EUR 1,150.19 per ounce
    28 Apr: USD 1,265.55, GBP 978.40 & EUR 1,156.84 per ounce
    27 Apr: USD 1,264.30, GBP 980.21 & EUR 1,160.63 per ounce

    Silver Prices (LBMA)

    08 May: USD 16.38, GBP 12.64 & EUR 14.96 per ounce
    05 May: USD 16.27, GBP 12.58 & EUR 14.85 per ounce
    04 May: USD 16.50, GBP 12.80 & EUR 15.09 per ounce
    03 May: USD 16.85, GBP 13.04 & EUR 15.44 per ounce
    02 May: USD 16.95, GBP 13.12 & EUR 15.53 per ounce
    28 Apr: USD 17.41, GBP 13.45 & EUR 15.92 per ounce
    27 Apr: USD 17.46, GBP 13.53 & EUR 16.02 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1494249282.php
     
  4. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The Traitors Abetting the Deep State's Dirty, Dying War on Gold
    By: Stewart Dougherty
    As we know, Tactic #1 has been carried out by years’ worth of massive, unpredictably-timed, electronic, naked-short price attacks primarily conducted on the Comex, the Deep State’s captured and non-regulated Command and Control Center. GATA has long documented in exquisite and laudable detail the gold price-rigging scandal, and Deutsche Bank’s admission in late 2016 that they and numerous other major banks manipulated the gold market for years ended, once and for all, any possible doubt about gold market corruption.
     
  5. searcher

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  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    U.S. Gold Exports To China and India Surge In 2017


    -- Published: Thursday, 11 May 2017

    Gold Exports From U.S. – Something Big Is Happening

    [​IMG]


    by SRSRoccoReport.com


    Most Americans didn’t realize it, but something BIG changed in the U.S. gold market in the beginning of 2017. While precious metals sentiment and buying in the U.S. has dropped off considerably in the first quarter of 2017, the East continues to acquire gold, HAND OVER FIST.

    How much gold? Well, let’s just say…. U.S. gold exports have nearly doubled during JAN-FEB 2017 versus the same period last yearTotal U.S. gold exports JAN-FEB 2017 surged to 101 metric tons (mt), compared to 56.5 mt last year. This is quite interesting because total U.S. gold mine supply plus gold imports for JAN-FEB 2017 only equaled 80 mt. Thus, the U.S. suffered a 21 mt gold supply deficit in the first two months of the year. Which means, someone had to liquidate an additional 21 mt of gold from their vaults to export to the East….. where they still understand the vital role of gold as REAL MONEY.

    And where did the majority of U.S. gold exports head to? You got it….. Hong Kong-China & India.

    [​IMG]

    Of the 101 mt of U.S. gold exports JAN-FEB 2017, Hong Kong-China and India received 61.8 mt, or nearly two-thirds of the total. Switzerland received 28 mt, U.K. imported 5.6 mt and the U.A.E. acquired 3.3 mt. The remaining 2.3 mt went to various countries such as, Germany, Canada and Mexico.

    What is also quite interesting, is that the majority of the year-over-year increase went to Hong Kong-China and India. U.S. gold exports to Hong Kong-China and India doubled from 31 mt during JAN-FEB 2016 to 61.8 mt JAN-FEB 2017.

    What does this all mean? It means, as U.S. precious metals investors continue to BICKER, COMPLAIN, BELLY-ACHE and WHINE about the low gold price, the Chinese and Indians smile as they continue to exchange increasing worthless fiat money for shiny yellow metal.

    Matter-a-fact, I have heard from several sources, that many precious metals investors in the U.S. are selling gold into the market. This has to be one of the STUPIDEST things to do. Of course, if a person needs to sell gold to purchase something or pay bills… that is understandable. But, to sell gold because of low market sentiment, goes against all sound reasoning and logic to own gold.

    People need to realize the U.S. and global financial and economic system are in the BIGGEST BUBBLE in history.

    To sell one’s GOLD INSURANCE at this time, makes me wonder… what the hell happened to IQ’s recently?

    Source: SRSRoccoReport.com

    News and Commentary

    Gold imports by India said to rise more than four-fold in April (Bloomberg.com)

    Gold inches up from 8-week low as dollar weakens (Reuters.com)

    U.S. Stocks Boosted by Oil Rally as Dollar Slips (Bloomberg.com)

    U.S. import prices increase for fifth straight month (Reuters.com)

    Europe Stocks Slip as Oil Leads Commodity Rebound: Markets Wrap (BloombergQuint.com)

    Palladium set to overtake platinum – GFMS (EngineeringNews.co.za)

    The Donald Finally Fired A Swamp Creature (DailyReckoning.com)

    Eric Sprott praises GATA’s work at retirement dinner (Gata.org)

    Panic! Like It’s 1837 (TheDailyBell.com)

    Goldman Asks If Yellen Has Lost Control Of The Market, Warns Of Fed “Policy Shock” (ZeroHedge.com)

    Gold Prices (LBMA AM)

    11 May: USD 1,221.00, GBP 945.66 & EUR 1,122.95 per ounce
    10 May: USD 1,222.95, GBP 944.61 & EUR 1,124.99 per ounce
    09 May: USD 1,225.15, GBP 948.51 & EUR 1,124.20 per ounce
    08 May: USD 1,229.70, GBP 948.71 & EUR 1,123.45 per ounce
    05 May: USD 1,239.40, GBP 958.06 & EUR 1,130.33 per ounce
    04 May: USD 1,235.85, GBP 958.15 & EUR 1,131.05 per ounce
    03 May: USD 1,253.95, GBP 971.18 & EUR 1,148.99 per ounce

    Silver Prices (LBMA)

    11 May: USD 16.37, GBP 12.70 & EUR 15.06 per ounce
    10 May: USD 16.29, GBP 12.59 & EUR 14.99 per ounce
    09 May: USD 16.22, GBP 12.55 & EUR 14.88 per ounce
    08 May: USD 16.38, GBP 12.64 & EUR 14.96 per ounce
    05 May: USD 16.27, GBP 12.58 & EUR 14.85 per ounce
    04 May: USD 16.50, GBP 12.80 & EUR 15.09 per ounce
    03 May: USD 16.85, GBP 13.04 & EUR 15.44 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1494508809.php
     
  7. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    History of Gold – Interesting Facts and Changes Over 50 Years


    -- Published: Friday, 12 May 2017

    [​IMG]

    Thomson Reuters GFMS have compiled an interesting high level history of the gold industry in the last fifty years.

    Topics covered and interesting historical facts to note include:

    – Gold market size
    – Gold mine production “peaked in 2015”
    – South African production collapse from 1,000 tonnes

    – South African gold was flown to London and Zurich and an airliner had its own designated landing areas at Heathrow where gold moved directly from the place to secure vaults
    – It may still do – that is shrouded in secrecy!
    – Political concerns in France in 1968 saw massive demand

    – Strong demand in Japan in late 1980s when insurance companies were investing up to 3% of portfolios in gold
    – Record demand in the wake of the financial crisis

    – Investment in gold – Coin and bar demand rising globally
    – Massive uptake of bullion in the Far East, especially China
    – History of gold shows gold’s continuing importance as safe haven asset


    [​IMG]

    Demand for physical gold investment. Source: GFMS Gold Survey

    GFMS Gold Survey is recognized as an important source of information on developments in the gold market and have celebrated the Gold Survey’s 50th anniversary, by conducting a high-level look at the history of the gold market in the past half century.

    Access How the gold industry has changed over 50 years here

    News and Commentary

    Gold steady as US political concerns pressure dollar; stocks drop (Reyters)

    Gold scores first back-to-back gains in nearly 2 weeks as dollar steadies (Marketwatch)

    U.S. Stocks Drop as Treasuries Rise, Crude Rallies (Bloomberg)

    Bitcoin crosses $1,800 for first time – Adds $3 billion in market cap in four days (CNBC)

    Rebound in U.S. Wholesale Prices Signals Inflation Pressures (Bloomberg)

    Global Silver Mine Production Drops in 2016 for First Time in 14 Years (Silver Institute)

    Golden review: How the gold industry has changed over 50 years (Thomson Reuters)

    China’s private investor gold surge seen as strong signal (Mining Weekly)

    Bill Blain: “Something Is Happening In Europe And We Don’t Know What It Is…” (Zerohedge)

    Hurricane Bearing Down on the Casino – Stockman (Daily Reckoning)

    Gold Prices (LBMA AM)

    12 May: USD 1,227.90, GBP 955.06 & EUR 1,129.55 per ounce
    11 May: USD 1,221.00, GBP 945.66 & EUR 1,122.95 per ounce
    10 May: USD 1,222.95, GBP 944.61 & EUR 1,124.99 per ounce
    09 May: USD 1,225.15, GBP 948.51 & EUR 1,124.20 per ounce
    08 May: USD 1,229.70, GBP 948.71 & EUR 1,123.45 per ounce
    05 May: USD 1,239.40, GBP 958.06 & EUR 1,130.33 per ounce
    04 May: USD 1,235.85, GBP 958.15 & EUR 1,131.05 per ounce

    Silver Prices (LBMA)

    12 May: USD 16.30, GBP 12.68 & EUR 14.99 per ounce
    11 May: USD 16.37, GBP 12.70 & EUR 15.06 per ounce
    10 May: USD 16.29, GBP 12.59 & EUR 14.99 per ounce
    09 May: USD 16.22, GBP 12.55 & EUR 14.88 per ounce
    08 May: USD 16.38, GBP 12.64 & EUR 14.96 per ounce
    05 May: USD 16.27, GBP 12.58 & EUR 14.85 per ounce
    04 May: USD 16.50, GBP 12.80 & EUR 15.09 per ounce

    http://www.goldcore.com/us/

    http://news.goldseek.com/GoldSeek/1494595298.php
     
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    New Gold Pool at the BIS Basle, Switzerland: Part 1
    By: Ronan Manly
    A central bank Gold Pool which many people will be familiar with operated in the gold market between November 1961 and March 1968. That Gold Pool was known as the London Gold Pool. This article is not about the 1961-1968 London Gold Pool. This article is about collusive central bank discussions relating to an entirely different and more recent central bank Gold Pool arrangement. These discussions about a second Gold Pool began in late 1979, i.e. more than 11 years after the London Gold Pool had been abandoned. This article is Part 1 of a 2 part series. Part 2 will be published shortly.
     
  9. searcher

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    Is China Intentionally Making It Harder To Manipulate Gold? - SoT 161
    Shadow of Truth



    Published on May 16, 2017
    Thanks for watching/listening. Subscribe, Share, Like!
    Please visit Dave http://investmentresearchdynamics.com
    Please visit Rory http://thedailycoin.org

    A new gold futures contract is being introduced by the Hong Kong Futures Exchange (two contracts actually). The two contracts will be physically settled $US and CNH (offshore renminbi) gold futures contracts. The key to this contract is that it requires physical settlement of the underlying gold, which is a 1 kilo gold bar.

    The difference between this contract and the Comex gold futures contract is that Comex contract allows cash (dollar aka fiat currency) settlement. The Comex does not require physical settlement. In fact, there are provisions in the Comex contract that enable the short-side of the trade to settle in cash or GLD shares even if the long-side demands physical gold as settlement.

    With the new HKEX contract, any entity that is long or short a contract on the day before the last trading day has to unwind their position if they have not demonstrated physical settlement capability.

    The new contract also carries position limits. For the spot month, any one entity can not hold more than a 10,000 contract long/short position. In all other months, the limit is 20,000 contracts. A limit like this on the Comex would pre-empt the ability of the bullion banks to manipulate the price of gold using the fraudulent paper gold contracts printed by the Comex. It would also force a closer alignment between the open interest in Comex gold/silver contracts and the amount of gold/silver reported as available for delivery on the Comex.

    To be sure, the contract specifications of the new HKEX contracts leave the door open to a limited degree of manipulation. But at the end of the day the physical settlement requirement and position limits greatly reduce the ability to conduct price control via naked contract shorting such as that permitted on the Comex and tacitly endorsed by the Commodity Futures Trading Commission.

    You can read about the new HKEX contract here - HKEX Physically Settled Contract - and there's a link at the bottom of that article with the preliminary term sheet.

    Will this new contract help moderate the blatant price manipulation in the gold market by the western banking cartel? Maybe not on a stand-alone. But several developments occurring in the eastern hemisphere - as discussed in today's episode of the Shadow of Truth - and among the emerging bloc of eastern super-powers will begin to close the window the ability of the west's efforts to prevent the price of gold from transmitting the truth about the decline of the U.S. dollar's reserve status and the rise of geopolitical instability:
     
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  10. solarion

    solarion Gold Member Gold Chaser

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    ^^Funny when Rory & Dave mentioned Zimbabwe's plans to set up a gold back currency and the very next comment was about how the US will soon be declaring Zimbabwe a grave threat to US national security and invade.
     
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  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    New Gold Pool at the BIS Basle: Part 2 – Pool vs Gold for Oil
    By: Ronan Manly
    This is Part 2 of a two-part series. The series focuses on collusive discussions and meetings that took place between the world’s most powerful central bankers in late 1979 and 1980 in an attempt to launch a central bank Gold Pool cartel to manipulate and control the free market price of gold. The meetings centered around the Bank for International Settlements (BIS) in Basle, Switzerland.
     

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