Gold Finger – A New Take On Operation Grand Slam With A Tungsten Twist”
Rob Kirby
I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:
1] – irregularities in the publication of the gold ETF – GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 …
Dear RealMoneyTracker.com friends and followers of the white and yellow metals, first, let us wish you a happy and prosperous year of the Dragon. In the Chinese zodiac, the Dragon is considered the luckiest of all animals, and looking at the charts for both metals in january 2012, we’re off to a good start.
As you all know 2011 was a very volatile year. Silver headed off and rushed to approximately 48 USD/ozbefore it fell off the cliff back in early May. Gold broke seasonal trends and had its greatest move during the summer and surpassed the 1900 USD/oz mark before it too fell off in September. Silver continued to fall during the last quarter and fell as low as almost 26 USD/oz, a …
SAN FRANCISCO (MarketWatch) — Gold futures gained Tuesday, benefitting from positive market sentiment following the approval of a second bailout for Greece.
Gold for April delivery (XCEC:GCJ2) advanced $26, or 1.5%, to $1,751.90 an ounce on the Comex division of the New York Mercantile Exchange. It had earlier traded as high as $1,752.50 an ounce.
A close around these levels would be gold’s highest since early December.
U.S. markets were closed Monday for the Presidents Day holiday, and Tuesday was the first floor trading day to react to the Greek news.
After a marathon meeting into the wee hours of Tuesday, European finance ministers sealed a deal to give Greece up to 130 billion euros ($171.9 billion) of financial aid. Read more about the Greek bailout package.
Looking at the numbers behind our federal budgets reveals that the majority of our government’s spending goes not to running the day to day operations of government, but rather, to social safety net programs like Medicaid, Medicare, Social Security, welfare, food assistance, rental stipends and a host of other entitlement programs. In many cases, the programs themselves are used as a marketing tool during election campaigns, with the winner of an election often being the candidate who promises the most benefits to their constituents.
While this strategy of indirect vote buying has worked well for politicians on both sides of the aisle for many decades, and has been instrumental in ushering in an era of centrally planned economies and …
For the past few months, the stock market has been behaving like a reveler who’s had just a little too much to drink, and the bond market has been behaving like the guy who wants to take away the stock market’s car keys.
We should probably listen to the bond market.
The broad S&P 500 stock index has rallied 22 percent since early October, recently hitting its highest level since early July. The narrower Dow Jones Industrial Average recently hit its highest mark since May 2008. And the technology-laden Nasdaq Composite index recently climbed back to a level not seen since December 2000.
The stock market is suggesting that American investors are shaking off many of the fears that hammered stocks …
Dow down slightly yesterday. Oil falling further below $100. And gold still going up.
What is most interesting is the movement in the price of gold. It seems to be heading up again – almost no matter what else is happening.
So, let’s look at what might be going on…
If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise.
This would raise consumer prices; the price of gold should go up.
But if the market sees growth and inflation ahead, why is oil slipping? And why is the Baltic Dry Index – which measures shipping prices – at a 25-year low? And how come last month’s employment figures were disappointing? And why aren’t …
The Federal Reserve will launch a third round of quantitative easing (QE3) and the price of gold will reach a new all-time record high above $2,200 per ounce later this year, according to analysts at Morgan Stanley.
In a recent report to clients, the Wall Street investment bank named gold among its top picks for 2012 and forecasted an average price of $2,200 per ounce.
Morgan Stanley’s view is based on part on Ben Bernanke launching a third round of asset purchases. Vince Reinhart – the firm’s chief U.S. economist and a former Federal Reserve official for 17 years – wrote the following:
The unwind of the negative shocks from Japan’s earthquake and the run-up in energy prices earlier …
Rumors are swirling that India and Iran are at the negotiating table right now, hammering out a deal to trade oil for gold. Why does that matter, you ask? Only because it strikes at the heart of both the value of the US dollar and today’s high-tension standoff with Iran.
Tehran Pushes to Ditch the US Dollar
The official line from the United States and the European Union is that Tehran must be punished for continuing its efforts to develop a nuclear weapon. The punishment: sanctions on Iran’s oil exports, which are meant to isolate Iran and depress the value of its currency to such a point that the country crumbles.
But that line doesn’t make sense, and the sanctions will not …
Some investors are frustrated and a few are worried that gold seems stuck in a rut. This stall in price has happened before, of course, but since 2001 it’s always eventually powered to a new high. Unless one thinks the gold bull market is over, it’s natural to wonder how long might we have to wait before seeing another new high.
Absent some sort of global shock that sparks another rush into gold (easily possible in today’s climate), I think the answer may lie in examining the size and length of past corrections and how long it took gold to reach new highs afterward. It makes sense that big corrections would take longer to reach new highs …
I’ve received a number of emails regarding the fact that stocks continue to rally despite Europe being on the verge of Collapse. Once again, investors are forgetting that stocks are the most clueless asset class on the planet.
Indeed, here are three reasons why this latest stock market rally isn’t to be trusted.
1) Volume has fallen from awful to absolutely horrendous.
Stocks traded roughly nine billion shares on the second trading session of 2012. This marks a 36% decrease from trading volume for the second day of 2011 (nearly 14 billion shares).
Put another way, stocks are levitating on lower and lower volume. Indeed, volume on Monday of this week was the lowest volume of the year so far, even lower …
