Published in Market Update  Precious Metals 


China Moves To Dominate Gold Market With Physical Exchange

Shanghai Gold Exchange International Board China is slowly moving to dominate the global gold market and it is important to join the dots regarding a few key recent developments in China relating to gold.

When the International Board of the Shanghai Gold Exchange (SGE) was launched last Thursday September 18 during an evening trading session, it was notable that the first transactions were put through by a diverse group comprising HSBC, MKS (Switzerland), and the Chinese banks,  ICBC, Bank of China and Bank of Communications.


Published in Market Update  Precious Metals 


Scotland Says "No" - Fallout May Impact Pound

The result of the Scottish independence referendum was announced early this morning, with 55.3% of voters wanting to stay in the United Kingdom (UK) and 44.7% wanting Scotland to become an independent nation. 

Voter turnout was exceptionally high at nearly 85% (about 3.6 million people), which was not surprising given the importance of the referendum.


Published in Market Update  Precious Metals 


Silver Buyers Keep Stacking And Demand Higher Despite Falling Prices

The silver price has remained subdued this year, falling just less than 5% year-to-date, and is now near a 14 month low. Naturally, investor psychology has been affected by the price weakness.

Quoted today in Bloomberg News, Mark O’Byrne, director of GoldCore said that “sentiment remains quite bad in the silver market.”


Published in Market Update  Precious Metals 


U.S. National Debt Surges $1 Trillion In Just 12 Months … Meanwhile FOMC “Tweaks” Wording

The U.S. financial position continues to deteriorate badly and in the last 12 months has increased by over $1 trillion dollars.


Published in Market Update  Precious Metals 


Gold Demand In India Triples As China Launches Global Gold Bourse This Thursday

Gold Webinar - Your Questions & Answers'

Today September 16, 2014 at 1300 EST, 6pm BST > See here

 

The Death Of The Indian Gold Market Has Been Greatly Exaggerated


Published in Market Update  Precious Metals 


“I Want To Be Diversified, I Want To Own Some Gold” - Faber

“I Want To Be Diversified, I Want To Own Some Gold” - Faber

Veteran investor Marc Faber, author of The Gloom, Boom and Doom Report, reiterated the need for gold in a diversified portfolio when interviewed last week on CNBC. 


Published in Market Update  Precious Metals 


Panic On The Streets Of London ... Can Scotland Ever Be The Same Again?

There is now less than one week of campaigning remaining before the Scottish Independence Referendum, which takes place next Thursday, September 18. 

The pro-union ‘no’ vote campaign is back in the lead this week after the latest opinion poll from pollsters YouGov put them at 52%, marginally ahead of the pro-independence ‘yes’ campaign.


Published in Market Update  Precious Metals 


China Holds “Gold Congress” - Positioning Itself As Global Gold Hub, “In China, Gold Is Money”

China Gold Congress in Beijing

The China Gold Congress is currently in full flight in Beijing. The three day Congress is China’s biggest gold industry event of the year, drawing in participants from across the Chinese and international gold sectors including central banks, mining companies, bullion banks and refiners.


Published in Market Update  Precious Metals 


Russia And Iran Put Oil-For-Goods Deals Into Motion As Iran Signals Similar Arrangements Coming With China

Russia-Iran Oil-for-Goods Contracts Representatives of the Russian and Iranian governments met in Tehran yesterday for the 11th meeting of the Iran-Russian Trade Council, where details of a ground breaking oil-for-goods swap between the two heavily sanctioned countries were revealed.


Published in Market Update  Precious Metals 


Macro Factors Dominating Gold Price As US Dollar Outweighs Physical Demand And Investor Flows

Macro Factors Dominating Gold Price As US Dollar Outweighs Physical Demand And Investor Flows With gold trading in a narrow range below $1,300 and remaining relatively weak, it is worth pausing at this juncture to look at the combination of factors that are affecting its price formation.


Published in Market Update  Precious Metals 


As ISDAFIX Becomes Next LIBOR, Can GOFO Manage To Avoid The Spotlight?

As ISDAFIX Becomes Next LIBOR, Can GOFO Manage To Avoid The Spotlight? In the wake of the recent LIBOR benchmark interest rate rigging scandal and successful prosecution of a number of global investment banks for participating in LIBOR manipulation, a  new interest rate rigging scandal is gathering steam.


Published in Market Update  Precious Metals 


Blockchain Promises To Be As Disruptive A Technology As The Internet

Every once in a while a new idea blasts onto the scene out of nowhere -- typically it is at first met with suspicion and distrust. If it has merit, it can start to become disruptive and awkward for incumbents, let's call them the “Safe Guys”. Safety and security are heralded as reasons why the new idea should be ignored.


Published in Market Update  Precious Metals 


ECB Meets To Tackle Deflation While Ignoring Shrinkflation

ECB Meets in Frankfurt

As the Governing Council of the European Central Bank (ECB) convenes today in Frankfurt for its monthly policy meeting, markets are focusing on how the ECB will signal the initiation of its quantitative easing (QE) programme which is aimed at countering deflationary forces in the Eurozone.


Published in Market Update  Precious Metals 


Scotland Independence Risk Sees British Pound Dive

Scotland Independence Risk Sees British Pound Dive

Mel Gibson in Braveheart

Sterling fell sharply yesterday as traders became nervous of a possible vote for Scottish independence. The referendum on Scottish independence from the United Kingdom takes place on Thursday 18th September. 


Published in Market Update  Precious Metals 


3 Important Gold Charts - Transparent Holdings Fall As Bullion Goes East To Russia and China

3 Important Gold Charts - Transparent Holdings Fall As Bullion Goes East To Russia and China

Chart 1: Changes in Holdings (millions of oz) vs Gold Price


Published in Market Update  Precious Metals 


Palladium Breaks Multi-Year High Over $900; Russian SWIFT Payment Ban Proposed By UK

Palladium Breaks Multi-Year High Over $900; Russian SWIFT Payment Ban Proposed By UK

The palladium price made a new 13 year high today and reached $909/oz, its highest since February 2001. Markets fear that the global supply of palladium could be impacted by the threat of further sanctions against Russia.


Published in Market Update  Precious Metals 


“Central Banks Should Give Money Directly To The People” – Gold Bullish CFR Proposal

Helicopter Janet?

Last week, a very radical proposal appeared in the pages of the influential ‘Foreign Affairs’ magazine, the publication arm of the equally influential Council on Foreign Relations (CFR) think-tank based in New York.


Published in Market Update  Precious Metals 


Bank of Canada Holds Swiss, Dutch, Swedish Gold As Swiss Repatriation Referendum Looms

Highlights

- Upcoming Swiss vote on gold repatriation could lead to gold repatriation from Bank of Canada

- Bank of Canada only acts as gold custodian to four foreign central banks

- Switzerland, the Netherlands and  Sweden say they hold gold in Ottawa

- Bank of Canada no longer a major gold custodian; Canada has virtually no gold reserves


Published in Market Update  Precious Metals 


Gold Shines Most in September on Seasonal Buys: Bloomberg Chart of Day

Gold Shines Most in September on Seasonal Buys: Bloomberg Chart of Day

BLOOMBERG CHART OF THE DAY - September Sees 3% Gains Over 20 Years

Gold investors hurting from prices within 1% of a two-month low can find solace from the historical record and research and showing gold performs best in September.


Published in Market Updates  Precious Metals Update 


Russia Coordinating Gold Reserve Accumulation With Ex Soviet States?

Gold bars in a vault in West Point, N.Y. (Associated Press) Or are they?

The IMF’s latest international gold reserves data, updated yesterday, shows that in July, Russia raised its official gold reserves to 35.5 million ounces (1,104 tonnes).