• Tag Archives Dollar
  • JULY 27/GOLD UP $ 10.45 WITH SILVER UP 13 CENTS/GOLD/SILVER EQUITY SHARES FLOUNDER AT THE END OF THE DAY SIGNALLING A POSSIBLE RAID TOMORROW//EU IS FORCING 3 COUNTRIES TO ACCEPT MIGRANTS AGAINST …

    GOLD: $1260.30 UP $10.45
    Silver: $16.59 UP 13 cent(s)
    Closing access prices:
    Gold $1259.50
    silver: $16.58
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1269.54 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1263.20
    PREMIUM FIRST FIX: $6.34
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1267.86
    NY GOLD PRICE AT THE EXACT SAME TIME: $1262.60
    Premium of Shanghai 2nd fix/NY:$5.26
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1262.05
    NY PRICING AT THE EXACT SAME TIME: $1263.00
    LONDON SECOND GOLD FIX 10 AM: $1261.10
    NY PRICING AT THE EXACT SAME TIME. $1261.20
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 4 NOTICE(S) FOR 400 OZ.
    TOTAL NOTICES SO FAR: 175 FOR 17500 OZ (.5443 TONNES)
    For silver:
    JULY
    112 NOTICES FILED TODAY FOR
    560,000 OZ/
    Total number of notices filed so far this month: 3282 for 16,410,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)
    Judging from the way the gold/silver shares traded today, it sure looks like the boys are going to orchestrate another humdinger of a raid against us tomorrow.

    This post was published at Harvey Organ Blog on July 27, 2017.


  • Gold Market Morning: July-27-2017: rising despite heavy U.S. gold ETF sales!

    Gold Today – New York closed the day before yesterday at $1,248.40. London opened at $1,262.00 today.
    Overall the dollar was weaker against global currencies, early today. Before London’s opening:
    – The $: was weaker at $1.1728 after the day before yesterday’s $1.1654: 1.
    – The Dollar index was weaker at 93.50 after the day before yesterday’s 93.97.
    – The Yen was unchanged at 111.25 after the day before yesterday’s 111.25:$1.
    – The Yuan was stronger at 6.7377 after the day before yesterday’s 6.7506: $1.
    – The Pound Sterling was stronger at $1.3138 after the day before yesterday’s $1.3031: 1.
    Yuan Gold Fix
    The reaction to the Fed’s inaction not just on rates but on the timing of the contraction of the Fed’s Balance Sheet, interrupted the gold price relationship between global markets. New York closed at the same level as Shanghai yesterday, but London opened at just $2.50 below Shanghai’s trading level this morning. The price differentials between the global markets were nearly eliminated on the back of the Fed’s inaction. We look today to see just how global markets interact and to see if they are really narrowing their differences.
    If you had been following our commentary in the Gold Forecaster newsletter on China and the shift of pricing power to the east, you would not have been tempted to sell your holdings of gold or silver!

    This post was published at GoldSeek on 27 July 2017.


  • Bill Blain: “Are We In A Bubble About To Burst, Or Are We Facing Massive Equity Upside?”

    Are We In A Bubble About To Burst, Or Are We Facing Massive Equity Upside?
    ‘A liberal is a conservative who has been arrested.’
    No surprises from the Fed last night. Unchanged rate talk and hints about reducing the balance sheet ‘relatively soon’. We can go figure what ‘relatively’ means when inflation picks up. The stock market soared and VIX tumbled to a record low. Was that a warning about complacency? Since the 2008 crisis we’ve been here many times before – worrying about signals the economy is strengthening when suddenly its dived weaker.
    But, those us with longer memories can recall when the US economy has turned dramatically stronger – and in 1994, (yes, I remember it well), when the Fed acted prematurely, spiked the recovery and triggered what we’d now call a massive Treasury market TanTrum. This time it feels very different. I suspect we are very much still on course towards normalisation – a new kind of new normal: low rates, low inflation and steady state low growth.
    Stuff to watch today: Dovish Fed boosts stocks (record Dow) and dollar crashes. Lots of corporate results to wonder and worry about! Stuff the think about: Deutsche Bank results show it’s taken yet another thumping – difficult to see how it plays catch up and regains market relevance when it’s still swinging the headcount axe. Where is the US economy when inflation remains so low? What are the risks to Europe of the low dollar?

    This post was published at Zero Hedge on Jul 27, 2017.


  • Gold Price Jumps in Dollars as ‘Low-Rate Yellen’ Gets Trump’s Backing

    Gold price gains continued for Dollar investors on Thursday but held flat for other traders as the US currency touched its lowest Euro value since January 2015 following yesterday’s “no change” decision from the Federal Reserve.
    “The actual path of the federal funds rate will depend on the economic outlook as informed by incoming data,” said the Fed’s July statement, seemingly delaying a move to start reducingits $4.6 trillion holdings of QE-bought Treasury and mortgage-backed bonds.
    Asian stock markets rose – as did most commodities and major government bond prices – but European equities then slipped as the Dollar bounced from its new 30-month lows versus the 19-nation single currency.
    Gold priced in Dollars today set its highest London benchmarking since 14 June at $1262 per ounce.
    But priced in Euros, gold fixed at only a 3-session high. The UK gold price in Pounds per ounce reached only a 2-session high.
    Thursday morning’s Dollar price stood 2.0% above the 2017 average to date.

    This post was published at FinancialSense on 07/27/2017.


  • Asian Metals Market Update: July-27-2017

    Factors which can affect markets
    Short covering and renewed building of long positions will be there in gold and silver if they continue to rise today and tomorrow. If gold rises after the US July nonfarm payrolls (on 4th August) then I expect it to rise to $1508.10 before the end of this quarter. Short term gold and silver are bullish. Medium term to long term will trend after the US NFP will be the key.
    Expectation that the pace of interest rate hikes will be slower than markets discounted resulted in a crash of US dollar and zoom of gold. Copper had already risen before the FOMC so the impact was not felt. Next in line is next week’s US July nonfarm payrolls. Interest rate chapter of the Federal Reserve is closed for now. Technically a higher close today and tomorrow in gold, silver, copper and crude oil can result in another five percent gains by next week.

    This post was published at GoldSeek on 27 July 2017.


  • World Stock Markets, Gold, Boosted By Dovish FOMC Statement Wed. PM

    (Kitco News) – Global stock markets were mostly firmer overnight in the wake of a U. S. Federal Reserve meeting that produced a statement most of the markets deemed as leaning to the dovish side of U. S. monetary policy. Recent corporate earnings reports have also been mostly upbeat. U. S. stock indexes are pointed toward higher and record high openings when the New York day session begins.
    Gold is posting solid gains Thursday in the wake of the dovish Fed statement that pushed the U. S. dollar index to a 13-month low. Reports overnight said India is moving to make ‘paper’ gold (such as sovereign gold bonds) more attractive to its domestic investors, in order to reduce demand for actual gold bullion.

    This post was published at Wall Street Examiner on July 27, 2017.


  • Bankers Ditch 7-Figure Salaries To Climb Aboard The ICO “Rocketship”

    In just a few short months, companies – many of dubious legitimacy – have raised more than a billion dollars through ICOs. Some of the better-hyped offerings in the field of 900 new coins that have been created this year managed to raise tens of millions of dollars in minutes. Investors, who were eager to throw money at the new coins, blindly hoping they would land on the next bitcoin or Ethereum.
    With all this money flying around, it’s no small wonder that bankers in New York, Hong Kong and London are abandoning seven-figure salaries to try their luck in the nascent ICO industry, according to Bloomberg. Stories like this have become commonplace with every passing fintech trend, as bankers, fearing the technology’s potential to disrupt the banking business and threaten their bonus pool, hoping to cash in on the next technology enabled ‘revolution.’

    This post was published at Zero Hedge on Jul 26, 2017.


  • The Globalist One World Currency Will Look A Lot Like Bitcoin

    This week the International Monetary Fund shocked some economic analysts with an announcement that America was “no longer first in the world” as a major economic growth engine. This stinging assertion falls exactly in line with the narrative out of the latest G20 summit; that the U. S. is fading away leaving the door open for countries like Germany and China to join forces and fill the power void. I wrote about this rising relationship between these two nations as well as the ongoing controlled demolition of America’s economy in my article ‘The New World Order Will Begin With Germany And China’.
    I find it interesting that the IMF is once again taking the lead on perpetuating the image of a failing U. S., just as they often push for the concept of a single global currency system to replace the dollar as the world reserve. The most common faulty counter-argument I run into when outlining the globalist agenda to supplant the dollar with the Special Drawing Rights basket system is that “the IMF is a U. S. government controlled organization that would never undermine U. S. authority.” Obviously, the people who make this argument have been thoroughly duped.
    The IMF is constantly and actively undermining America’s economic position, because the IMF is NOT an American controlled organization; its loyalty is to globalism as an ideology as well as the international financiers that dominate central banking. America’s supposed “veto power” within the IMF is incidental and meaningless – it has not stopped the IMF from chasing the replacement of the the dollar structure and forming the fiscal ties that stand as the root of what they sometimes call the “global economic reset.”

    This post was published at Alt-Market on Thursday, 27 July 2017.


  • Turkey gold imports still riding very high — Lawrie Williams

    By our reckoning, Turkey has imported some 174 tonnes of gold in the first half of the current year. This reflects a degree of political turmoil both before and after the April referendum, which gave President Erdogan sweeping additional powers, but also Erdogan’s advice late last year that citizens should buy gold or Turkish lira rather than dollars in converting foreign currency or as a hedge against future uncertainties. It looks as though his advice has been well heeded as far as gold is concerned.
    This year’s imports to date have already exceeded the 106 tonnes imported in full year 2016, which in turn was more than double the amount imported in 2015. Thus this year’s figures represent an enormous increase on prior years’ figures and probably puts Turkey currently in place as the world’s third largest net importer of gold, after China and India.
    With Chinese gold demand remaining reasonably strong and Indian demand hugely up in the first half of the year ahead of the new GST imposition, gold flows from the West to the Middle East and South and East Asia have been very strong in the first half of the year and have probably accounted for just about all of the world’s new mined gold, which puts physical metal in short supply in the west.

    This post was published at Sharps Pixley


  • Total Government And Personal Debt In The U.S. Has Hit 41 Trillion Dollars ($329,961.34 Per Household)

    We are living in the greatest debt bubble in the history of the world. In 1980, total government and personal debt in the United States was just over the 3 trillion dollar mark, but today it has surpassed 41 trillion dollars. That means that it has increased by almost 14 times since Ronald Reagan was first elected president. I am searching for words to describe how completely and utterly insane this is, but I am coming up empty. We are slowly but surely committing national suicide, and yet most Americans don’t even understand what is happening.
    According to 720 Global, total government debt plus total personal debt in the United States was just over 3 trillion dollars in 1980. That broke down to $38,552 per household, and that figure represented 79 percent of median household income at the time.
    Today, total government debt plus total personal debt in the United States has blown past the 41 trillion dollar mark. When you break that down, it comes to $329,961.34 per household, and that figure represents 584 percent of median household income.
    If anyone can make a good argument that we are not in very serious debt trouble, I would love to hear it.
    And remember, the figures above don’t even include corporate debt. They only include government debt on the federal, state and local levels, and all forms of personal debt.
    So do you have $329,961.34 ready to pay your share of the debt that we have accumulated?

    This post was published at The Economic Collapse Blog on July 26th, 2017.


  • Meet Tally: The Grocery Stocking Robot About To Eradicate 1,000’s Of Minimum Wage Jobs

    Amazon wiped out billions of dollars worth of grocery store market cap last month when they announced plans to purchase Whole Foods. The announcement sent shares of Kroger, Wal-Mart, Sprouts, and Target, among others, plunging… (WMT -4%, TGT -5.5%, SFM -7.6%, KR -12%).
    But, as we pointed out back in May, well before Amazon’s decision to buy Whole Foods, Amazon’s success in penetrating the traditional grocery market was always a matter of when, not if. Concept stores, like Amazon Go, already exist that virtually eliminate the need for dozens of in-store employees which will allow them to generate higher returns at lower price points than traditional grocers. And, with grocery margins averaging around 1-2% at best, if Amazon, or anyone for that matter, can truly create smart stores with no check outs and cut employees in half they can effectively destroy the traditional supermarket business model.
    And while the demise of the traditional grocery store will undoubtedly take time (recall that people were calling for the demise of Blockbuster for nearly a decade before it finally happened), make no mistake that the retail grocery market 10-15 years from now will not look anything like the stores you visit today.

    This post was published at Zero Hedge on Jul 26, 2017.


  • JULY 26/DOVISH FED WITH ‘LACK OF INFLATION’ SENDS GOLD AND SILVER SOARING AFTER COMEX CLOSES/NORTH KOREA WILL LAUNCH ANOTHER ICBM MAYBE BY TONIGHT/USA PASSES LEGISLATION ORCHESTRATING MORE SANCTI…

    GOLD: $1249.85 DOWN $2.55
    Silver: $16.46 DOWN 9 cent(s)
    Closing access prices:
    Gold $1260.75
    silver: $16.67
    SHANGHAI GOLD FIX: FIRST FIX 10 15 PM EST (2:15 SHANGHAI LOCAL TIME)
    SECOND FIX: 2:15 AM EST (6:15 SHANGHAI LOCAL TIME)
    SHANGHAI FIRST GOLD FIX: $1254.41 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1248.40
    PREMIUM FIRST FIX: $6.01
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1252.10
    NY GOLD PRICE AT THE EXACT SAME TIME: $1245.65
    Premium of Shanghai 2nd fix/NY:$6.45
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1245.40
    NY PRICING AT THE EXACT SAME TIME: $1246.50 ???
    LONDON SECOND GOLD FIX 10 AM: $1248.10
    NY PRICING AT THE EXACT SAME TIME. $1248.15
    For comex gold:
    JULY/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 14 NOTICE(S) FOR 1400 OZ.
    TOTAL NOTICES SO FAR: 171 FOR 17100 OZ (.5318 TONNES)
    For silver:
    JULY
    21 NOTICES FILED TODAY FOR
    105,000 OZ/
    Total number of notices filed so far this month: 3170 for 15,850,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    WE HAVE NOW ENTERED OPTIONS EXPIRY WEEK:
    COMEX OPTIONS EXPIRY: TONIGHT JULY 26.2017
    LONDON BASED OPTIONS EXPIRY: JULY 31.2017 AT 11AM OR SO.
    (OTC/LBMA CONTRACTS)

    This post was published at Harvey Organ Blog on July 26, 2017.


  • The Fed Delays Raising Rates As It Waits Patiently For The Economy To Collapse – Episode 1342a

    The following video was published by X22Report on Jul 26, 2017
    DR Horton posts slowest growth, this has to do with the housing market losing steam, not because of lumber prices or the weather. The Fed is holding steady on interest rates, they say they are going to unwind their balance sheet. They are waiting patiently for the economy to come crashing down, if rate increase didn’t trigger it, they will raise rates one more time. The USD is crashing as the Fed raise rates the dollar collapses further.


  • Is The Fed Poised To Ignite A Violent Dollar Rally?

    As ther world waits with bated breath for Janet Yellen’s statement this afternoon – whiche is uniformly expected to be a nothing-burger, some are wondering if the recent flip-floppery by Yellen, Draghi (and even Kuroda with his ‘actual’ tapering while lowering inflation expectations) does not leave today open to another modst shift back in The Fed’s ‘hawkishness’. As Bloomberg’s macro strategist warns, this sets the market up for a surprise and as he warns: “Dollar risks are starting to seem skewed all one way: toward an immediate rally.”
    There’s extremely bearish positioning, that’s failed to adapt to changing circumstances, into event risk that’s structured to surprise in the opposite direction. That’s an explosive mix.
    When something seems so obvious, your immediate instinct should be to ask, “what’s the catch?” My problem is that this time, I just can’t see one.

    This post was published at Zero Hedge on Jul 26, 2017.


  • Beware The Ides Of October…

    – Mark Twain (maybe)
    We have been speaking a lot about how the liquidity in the market today is different than in the past. The chart below reflects this better than anything we have seen.

    The monetary base in the U. S. has exceeded M1, the most narrow definiton of money, since the financial crisis. The monetary base consists of money in circulation and reserves held at the Fed (see definition below).
    The M1 money multiplier is still less than one, which reflects that for every dollar created by the Fed – an increase in the monetary base – results in a less than one dollar increase in the money supply (M1). Credit and deposit creation of commercial banks is thus still impaired, though improving and its repairment may be one reason why the Fed is a bit nervous and in tightening mode.
    A rapid turnaround and improvement in the money multiplier, which may be also be reflected in improving bank net interest margins and growing balance sheets, could act as an early indicator of potential inflationary pressures and a flag that the massive amount of high powered money in the financial system is being converted to credit based money.

    This post was published at Zero Hedge on Jul 26, 2017.


  • RECONCILING THE US DOLLAR OUTLOOK with the SUPER BULLISH GOLD AND SILVER COTs…

    Because the dollar has such an important bearing on everything, especially the Precious Metals, it is timely for us to take a close look at it here after its recent steep drop, for as some of you may have seen, a number of indicators pertaining to the dollar suggest that, possibly after some further downside it is likely to bounce, or at least take a rest in a sideways range for a while, before the decline perhaps resumes in earnest. We’ll start by looking at a couple of these indicators. The latest US dollar Hedgers chart, which is a form of COT chart, is certainly starting to look bullish, and until these positions ease somewhat, further significant downside for the dollar in the short-term looks unlikely.
    ***
    Meanwhile the latest Dollar Optix, or optimism chart, also shows that pessimism is getting overdone. This doesn’t necessarily mean that the dollar’s downtrend is done, however, as minor rallies can cause this to ease before it then plumbs new lows. These two indicators taken together suggest that a relief rally is likely in the dollar soon, perhaps after it drops a bit lower first, although they don’t mean that the rally will get very far.

    This post was published at Clive Maund on Tuesday, July 25, 2017.


  • The US Dollar – Looking For a Bounce

    Recent Price Action
    The US Dollar Index (DXY) continued to move lower this week having lost another 1.4% from the previous weeks close. This continued move lower came after the DXY had already lost over 8% from the highs that were struck in January. While the Dollar is still getting hammered on both the charts and in the media the DXY is now coming into a fairly strong support zone that should ideally provide at least some temporary relief from the onslaught that the DXY has seen as of late.
    Anecdotal and Other Sentiment Indications
    Last week I had written about the news that was all over the financial press claiming that US Dollar was down because the Republicans were unable to be able to pass their health care bill. I noted how the pundits were claiming that this was evidence that the ‘Trump Trade’ was breaking down and that the continued uncertainty in the White House would surely cause the US Dollar to continue to fall lower.
    This week I am reading that not only do the Republicans need to get their act together to allow the US Dollar back on solid ground but that US Treasury Yields must also move higher before the US Dollar had any chance of bouncing. This is supposedly due to the US Political situation weighing down on US yields which were then in turn not allowing the US Dollar to bounce.
    Well even if we were to believe the first argument that, the US Political situation was weighing down on US Treasury yields, one simply has to look at a chart to know that there is no correlation between US Treasury yields and the value of the US Dollar on either a long or even a short term basis. Sometimes they move together and other times they don’t but again there is no consistent relationship suggesting that US Treasury yields have any effect at all on the value of the US Dollar.
    So if you are serious about trying to determine what is going to happen next in the market; instead of listening to the pundits attempt to assign causality to something that has nothing to do with the markets, or correlations that clearly do not stand the test of time, wouldn’t it be much easier to simply analyze the market for what it really is and just allow Sentiment to Speak.

    This post was published at GoldSeek on Wednesday, 26 July 2017.