• Tag Archives North Korea
  • OCT17/ANOTHER RAID BY THE BANKERS KNOCKS GOLD AND SILVER DOWN/KOBE STEEL FRAUD GOES GLOBAL/CHINA BUILDS A SIX LANE HIGHWAY AS THEY ARE READY TO INVADE NORTH KOREA AND TAKE AWAY THEIR NUCLEAR WEAP…

    GOLD: $1284.95 DOWN $17.40
    Silver: $17.02 DOWN 33 cents
    Closing access prices:
    Gold $1285.50
    silver: $17.03
    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: $1303,20 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1293.20
    PREMIUM FIRST FIX: $10.00 (premiums getting larger)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1301.69
    NY GOLD PRICE AT THE EXACT SAME TIME: $1291.90
    Premium of Shanghai 2nd fix/NY:$9.79(PREMIUMS GETTING LARGER)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1289.70
    NY PRICING AT THE EXACT SAME TIME: $1304.10
    LONDON SECOND GOLD FIX 10 AM: $1284.75
    NY PRICING AT THE EXACT SAME TIME. 1299.60
    For comex gold:
    OCTOBER/
    NOTICES FILINGS TODAY FOR OCT CONTRACT MONTH: 1 NOTICE(S) FOR 100 OZ.
    TOTAL NOTICES SO FAR: 2354 FOR 235,400 OZ (7.329TONNES)
    For silver:
    OCTOBER
    166 NOTICES FILED TODAY FOR
    830,000 OZ/
    Total number of notices filed so far this month: 562 for 3,640,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    Bitcoin: $5659 bid /$56 79 offer up $171.00

    This post was published at Harvey Organ Blog on October 17, 2017.


  • “There Were No Calls, That’s Absolutely Crazy”: How The Stock Market Died

    Something unexpected happened on the market’s relentless trek to all time highs: the market died.
    At least that is the impression one gets from walking around Wall Street’s formerly busy trading desks (certainly the formerly biggest trading floor in the world, that of UBS, now hauntingly empty) where these days one can hear a pin drop. Take the Credit Suisse Prime Brokerage desk in Manhattan for example: here, as BusinessWeek reports in its 1987 anniversary issue, “the phones hardly seem to ring anymore.” In fact, if one didn’t know better, one could assume that instead of all time highs, the market has just experienced another spectacular crash resulting in a universal trading revulsion.
    Credit Suisse’s hedge fund clients don’t call about Donald Trump’s tweetstorms and the stock market or ask what to do when terrorists attack. And there was barely a whiff of panic when North Korea erupted in August. ‘Two rockets flew over the land mass of Japan and nothing happened,’ says Mark Connors, Credit Suisse’s global head of risk advisory.
    Connor’s assessment, in not so many words, the market has died: ‘There were no calls. That’s absolutely crazy.

    This post was published at Zero Hedge on Oct 16, 2017.


  • SWOT Analysis: Gold In Focus After Climbing Above Key Threshold Level

    Strengths
    The best performing precious metal for the week was palladium, up 7.28 percent as money managers raised their net-long positions on continued expectations that the shift from diesel to gasoline powered cars will continue. Gold traders and analysts surveyed by Bloomberg are bullish for the first time in five weeks, reports Bloomberg. Following the release of the Fed minutes which showed rising concern about low inflation, the yellow metal climbed to a two-week high. A fresh flare-up in tensions with North Korea pushed gold higher this week, writes Bloomberg, along with a U. S.-Turkey diplomatic spat regarding visitor visas was supportive. The Indian government withdrew an order that brought the gold industry under anti money-laundering legislation, reports Bloomberg. Jewelers were included in the Prevention of Money-Laundering Act in August that increased compliance requirements. In response to the rule reversal, shares of jewelers climbed in the country. This move comes just as gold buying improves before the Hindu festival of Diwali, the peak season for demand, the article continues. Weaknesses
    The worst performing precious metal for the week surprisingly was gold, up more than 2 percent, despite grabbing most of the precious metals headlines. According to the People’s Bank of China website, gold reserves in China came in at 59.24m fine troy ounces in September, unchanged again from the previous month, which unfortunately is beginning to become a trend. Chinese markets had been closed the prior week to mark National Day.

    This post was published at GoldSeek on Monday, 16 October 2017.


  • Jimmy Carter Offers To Meet With Kim Jong-Un To Prevent War With North Korea

    With tensions once again flaring up between the United States and North Korea, it was reported Tuesday that former U. S. president Jimmy Carter has offered to meet with leader Kim Jong-un to discuss ways to achieve peace.
    The revelation comes by way of South Korean news outlet JoongAng Ilbo, which spoke with Park Han-shik, a prominent scholar on North Korean-related issues. Park previously helped Carter plan diplomatic trips to the country in 1994 and 2010.
    JoongAng Ilbo writes that Park met with the former president at his home in Georgia on September 28, and it was there that Carter reportedly expressed his wishes.

    This post was published at Zero Hedge on Oct 11, 2017.


  • NATO Launches New Black Sea Force To Target Russia

    Robert Shiller isn’t the only Nobel Laureate who’s worried the US stock market is sleepwalking toward disaster.
    In an interview with Bloomberg’s Jeanna Smialek, Thaler, who was awarded the Nobel Memorial Prize in Economic Sciences on Monday for his pioneering work in establishing that humans are ‘predictably irrational’, said that the stock market’s complacency in the face of the North Korean nuclear threat and political uncertainty at home is disconcerting.
    ‘We seem to be living in the riskiest moment of our lives, and yet the stock market seems to be napping,’Thaler said, speaking by phone on Bloomberg TV. ‘I admit to not understanding it.’ Adding his voice to a growing chorus of Wall Street analysts who suspect that the Trump administration’s tax reform ambitions will be dashed by a handful of intransigent senators, Thaler said any investors who’ve been paying attention should have ‘lost confidence’ by now.
    ‘I don’t know about you, but I’m nervous, and it seems like when investors are nervous, they’re prone to being spooked,’ Thaler said, ‘Nothing seems to spook the market’ and if the gains are based on tax-reform expectations, ‘surely investors should have lost confidence that that was going to happen.’ US stocks have continued to hit a string of records since President Donald Trump’s upset victory over Hillary Clinton in November while volatility has plunged, with realized vol reaching its lowest level on record in October.

    This post was published at Zero Hedge on Oct 11, 2017.


  • Nobel Laureate Richard Thaler: “We Seem To Be Living In The Riskiest Market Of Our Lives”

    Robert Shiller isn’t the only Nobel Laureate who’s worried the US stock market is sleepwalking toward disaster.
    In an interview with Bloomberg’s Jeanna Smialek, Thaler, who was awarded the Nobel Memorial Prize in Economic Sciences on Monday for his pioneering work in establishing that humans are ‘predictably irrational’, said that the stock market’s complacency in the face of the North Korean nuclear threat and political uncertainty at home is disconcerting.
    ‘We seem to be living in the riskiest moment of our lives, and yet the stock market seems to be napping,’ Thaler said, speaking by phone on Bloomberg TV. ‘I admit to not understanding it.’
    Adding his voice to a growing chorus of Wall Street analysts who suspect that the Trump administration’s tax reform ambitions will be dashed by a handful of intransigent senators, Thaler said any investors who’ve been paying attention should have ‘lost confidence’ by now.
    ‘I don’t know about you, but I’m nervous, and it seems like when investors are nervous, they’re prone to being spooked,’ Thaler said, ‘Nothing seems to spook the market’ and if the gains are based on tax-reform expectations, ‘surely investors should have lost confidence that that was going to happen.’
    US stocks have continued to hit a string of records since President Donald Trump’s upset victory over Hillary Clinton in November while volatility has plunged, with realized vol reaching its lowest level on record in October.

    This post was published at Zero Hedge on Oct 11, 2017.


  • OCT 10/GOLD AND SILVER ADVANCE: GOLD UP $8.90 AND SILVER IS UP 23 CENTS/CATALONIA DELAYS DECLARING INDEPENDENCE BUT MADRID STATES THAT THEY DID DECLARE AND THUS WILL INSTITUTE ARTICLE 155/SOUTH K…

    GOLD: $1291.40 UP $8.90
    Silver: $17.16 UP 23 CENT(S)
    Closing access prices:
    Gold $1288.10
    silver: $17.11
    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: $1294.21 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1285.95
    PREMIUM FIRST FIX: $8.26 (premiums getting larger)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1304.05
    NY GOLD PRICE AT THE EXACT SAME TIME: $1287.05
    Premium of Shanghai 2nd fix/NY:$17.00 (PREMIUMS GETTING LARGER)

    This post was published at Harvey Organ Blog on October 10, 2017.


  • OCT 9/GOLD AND SILVER ADVANCE: GOLD UP $8.00 AND SILVER IS UP 23 CENTS/COMEX GOLD OPEN INTEREST FALLS BY OVER 2,000 CONTRACTS BUT SILVER DOES THE REVERSE AS SILVER LONGS REFUSE TO BUDGE/TRUMP IN …

    GOLD: $1282.50 UP $8.00
    Silver: $16.93 UP 23 CENT(S)
    Closing access prices:
    Gold $1284.80
    silver: $16.98
    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: $1300.79 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1281.60
    PREMIUM FIRST FIX: $19.19 (premiums getting larger)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1300.79
    NY GOLD PRICE AT THE EXACT SAME TIME: $1282.30
    Premium of Shanghai 2nd fix/NY:$19.49 (PREMIUMS GETTING LARGER)
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1282.15
    NY PRICING AT THE EXACT SAME TIME: $1281.90
    LONDON SECOND GOLD FIX 10 AM: $1278.75
    NY PRICING AT THE EXACT SAME TIME. 1279.90

    This post was published at Harvey Organ Blog on October 9, 2017.


  • Asian Metals Market Update: October-09-2017

    North Korean tensions are once again to the fore. I always believe that natural calamity are short term pains but long term gains for any nation. Reconstruction and relief efforts create more jobs for the low skilled workers than under normal days. Storms and hurricanes in the nation surrounding the Gulf of Mexico will create more jobs than before. At the end of the day low skilled job creation is something which every nation lacks. Nature will do its job in America more than its politicians. Demand for industrial metals always rises after a natural calamity in any part of earth.
    Focus will shift to pre- election moves in Japan and political changes in the UK due to a continued delay in time for Brexit. Asian demand for gold and silver will also be the key this week.

    This post was published at GoldSeek on 9 October 2017.


  • Global Markets Bounce As Germany, China, Spain Lift World Stocks, Turkey Crash Ignored

    With no North Korean nuclear test over the weeknd contrary to a Friday morning rumor, S&P futures rebounded and edged higher as European stocks gain, led by Spanish shares after mass demonstrations in favor of Spanish unity and speculation Catalonia may back down on unilateral independence demands, while Chinese mainland stocks reopened catching up to gains missed during the holiday week following last weekend’s RRR cut.
    World shares rose to start the week, with Chinese stocks hitting 21-month highs and the German index setting a new record, while political uncertainty triggered big moves in sterling, the Turkish lira and Spanish debt. US futures are also pushing higher in anticipation of the start of Q3 earnings season which begins later this week, with a number of Wall Street banks including JPMorgan, BofA and Citi set to report. While equities are open, the US bond market is closed today for the Columbus day holiday, while Asian markets were relatively quiet following holidays in Japan, South Korea and Taiwan.
    European stocks climbed at the start of a week in which investors were closely watching developments in Catalonia as well as U. S. earnings season kicks off. The Stoxx Europe 600 Index adds 0.23%, following four straight weeks of gains. All industry groups except miners climb. The IBEX 35 Index is up 1% as a senior member in the Catalan administration calls for dialogue with Spain, although the gauge is still down 1.2% since Catalans voted for independence in an illegal referendum. After a weekend of mass demonstrations in favor of Spanish unity, Raul Romeva, foreign affairs chief for the separatist government in Barcelona, insisted that the door was open for talks if Prime Minister Mariano Rajoy was willing to grasp the opportunity
    As Bloomberg breaks down local markets, 18 out of 19 Stoxx 600 sectors rise; 407 Stoxx 600 members gain, 171 decline. Top Stoxx 600 outperformers include: CaixaBank +2.6%, Centamin +2.5%, TDC +2.4%, Man Group +2.4%, Metro Bank +2.0%. The Stoxx Euro 600 Index also received a boost from data showing German industrial output rebounded from a summer lull with its best month in six years. The euro nudged higher, while most European bonds rose. Gold climbed and crude oil erased earlier gains.

    This post was published at Zero Hedge on Oct 9, 2017.


  • SWOT Analysis: Macroeconomic Backdrop Remains Positive for Precious Metals, says Metals Focus

    Strengths
    The best performing precious metal for the week was silver up 1.07 percent. Precious metals rallied to mid-day highs on Friday as it was rumored North Korea will test a missile this weekend that is capable of reaching the U. S. West Coast. Gold traders and analysts surveyed by Bloomberg on Thursday were equally split between bulls and bears this week, reports Bloomberg, after saying gold prices will go down three weeks in a row. According to data released by the Perth Mint this week, gold coin and minted bar sales increased to 46,415 ounces in September. This is up from sales of 23,130 ounces in August. In the week ended September 28, inflows into U. S.-listed commodity ETFs totaled $644 million, reports Bloomberg, a 27-percent expansion. Precious-metals funds had $782 million of gains, the article continues, compared with $589 million the week prior. Since Vladimir Putin went on a geopolitical offensive in the Ukraine in 2014, gold had its first annual gain in four years in 2016, writes Bloomberg, and is now on track for another gain in 2017. In addition, the Bank of Russia has more than doubled the pace of gold purchases, accounting for 38 percent of all gold purchased by central banks in the second quarter alone. According to the World Gold Council, this brings the share of bullion in Russia’s international reserves to the highest of Putin’s 17 years in power, the article continues.

    This post was published at GoldSeek on Monday, 9 October 2017.


  • Doug Noland: Kevin Warsh to Lead the Fed in a New Direction

    This is a syndicated repost courtesy of Credit Bubble Bulletin . To view original, click here. Reposted with permission.
    The threat of nuclear crisis with North Korea. Two destructive hurricanes. Puerto Rico devastated and about out of money. The start of a major comprehensive tax reform effort, along with general political mayhem in Washington. The worst mass shooting in U. S. history. In the midst of it all, the President is apparently about to make a potentially momentous decision: A Fed chair will be appointed with a new four-year term.
    As has become the norm, markets are happy-go-lucky (at almost daily record highs). How could anything possibly rock the boat? Outside of the financial media, a change of guard at the Fed is hardly newsworthy.
    It’s an interesting narrative leading up to the President’s decision. Of course, there’s the typical ‘hawk’ vs. ‘dove’ framework. The Wall Street Journal had an insightful op-ed: ‘Donald Trump’s Fed Choice: Continuity or Disruption.’ And then there was Friday’s Krugman piece in the New York Times: ‘Will Trump Trumpify the Fed?’ – that I will return to.

    This post was published at Wall Street Examiner by Doug Noland ‘ October 7, 2017.


  • Trump Hints At War With North Korea: “Sorry, But Only One Thing Will Work”

    When we commented on this morning’s Trump tweetstorm, in which he covered everything from the fake (and not so fake) media, to RNC donors, to reaching out to Democrats on Obamacare repeal, to “late night” comedians and their “one-sided coverage” of Trump, we said that Trump has yet to make a comment on the most cryptic topic of the last week, his repeated suggestions that the current situation is a “calm before the storm.”
    Moments ago, he may have done just that, when in his latest pair of tweets, Trump ominously suggested that following 25 years of failed diplomacy with North Korea, there is “only one thing that will work.”
    “Presidents and their administrations have been talking to North Korea for 25 years, agreements made and massive amounts of money paid hasn’t worked, agreements violated before the ink was dry, makings fools of U. S. negotiators. Sorry, but only one thing will work!”

    This post was published at Zero Hedge on Oct 7, 2017.


  • OCT 6/NORTH KOREA’S KIM FOILS ATTEMPT BY BANKERS TO MANIPULATE GOLD/SILVER AS ‘GOLDEN WEEK’ HOLIDAY ENDS TONIGHT/GOLD RISES $1.40 AND SILVER IS UP 10 CENTS/

    GOLD: $1274.50 UP $1.40
    Silver: $16.70 UP 10 CENT(S)
    Closing access prices:
    Gold $1276.30
    silver: $16.81
    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: $n/a DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $n/a
    PREMIUM FIRST FIX: $8.24 (premiums getting larger)

    This post was published at Harvey Organ Blog on October 6, 2017.


  • Gold Readying to Rally

    Gold suffered a sharp pullback this past month, spawning bearish sentiment. Futures speculators fled on surging Fed-rate-hike odds and new stock-market record highs. That pounded gold lower despite strong investment demand. This healthy sentiment-rebalancing retreat has left gold ready to rally again. Both its technicals and seasonals are very bullish, and futures speculators’ selling overhang has considerably abated.
    On September 7th, gold powered 1.1% higher to $1348. That was exactly a 1.0-year high, gold’s best level seen since before Trump’s surprise election victory and the resulting extreme Trumphoria stock-market rally. But since gold had surged 4.9% higher in less than two weeks, greed was mounting again. So a couple trading days later, gold started selling off sharply and birthed this past month’s pullback.
    As is usually the case in gold, the pullback spark was multifaceted. When gold had peaked, futures-implied Fed-rate-hike odds for its mid-December meeting were under 32%. But they shot up to 42% on Monday September 11th, when gold’s initial 1.5% drop kicked off this pullback. That day saw a strong relief rally in the stock markets, following a weekend where North-Korea and hurricane-Irma fears failed to materialize.
    North Korea didn’t launch another ballistic missile or detonate another nuclear bomb for its Founder’s Day holiday, the anniversary of Kim Jong-un’s grandfather founding the modern country in 1948. And Irma’s eye veered south over Cuba before slamming Florida, dissipating enough of its energy. Thus Florida was thankfully spared from being razed like some of the Caribbean islands that bore Irma’s full force.

    This post was published at ZEAL LLC on October 6, 2017.


  • Tillerson Called Trump A “Moron”, Was Close To Resigning

    In recent days, foreign policy pundits have been scratching their heads over the apparent lack of directly lines of communication between the White House and the State Department, which led Trump to chide Sec State Rex Tillerson over the weekend, tweeting that there is no need to negotiate with North Korea, as Trump would “handle this” even as it emerged for the first time that the US had engaged in direct contact with Pyongyang. This was merely the latest example of the White House seemingly taking a position opposite to that pushed by Tillerson, prompting many to ask if there is a fallout between the former Exxon CEO and Donald Trump.
    ***
    Today, NBC gives one possible explanation for the bizarre relationship between the two men, with a report that Rex Tillerson was on the verge of resigning this past summer amid mounting policy disputes and clashes with the White House. The tensions reportedly came to a head around the time President Donald Trump delivered a politicized speech in late July to the Boy Scouts of America, an organization Tillerson once led, NBC reported citing officials familiar.

    This post was published at Zero Hedge on Oct 4, 2017.


  • It Has Never Been Cheaper To Hedge A Market Crash Using This One Trade

    In mid-August, at the height of the North Korea geopolitical turbulence, and amid uncertainty about the Fed balance sheet unwind, fears of a government shutdown and the US debt ceiling, as well as the fate of Trump tax reform and Obamacare repeal, when the VIX soared following a series of missile launches by Kim Jong Un only to crash right back to near all time lows, we used an analysis from BofA’s derivatives analyst Benjamin Bowler to show “How To Hedge A Near-Term Market Shock: Here Are The Best Trades”
    As we said then “if the events from last week demonstrated something, it is that just when there appears to be virtually no risk, is when the likelihood of a historic surge in volatility is greatest, as many experienced first hand last Thursday. Hence the need to hedge. But what? And using which product?” As Bowler explained “the decision about whether it’s rational to hedge is really a matter of looking at the price of tail insurance embedded into option markets and asking if the probabilities they assign are ‘fair’ or not.” As he further wrote, when it comes to predicting what the next “severe tail event” could look like, “we find that not only are some markets like Gold pricing in a very low probability of Korean risk escalation, there are significant differences across assets in terms of what they imply about potential risks.”
    He then presented the chart below which shows how historical worst 3M drawdowns since 2006 are priced by 3M 25- delta options across asset classes; hedges that are most underpricing their historical drawdowns are at the top and those most overpricing their tails are at the bottom. What the chart shows is that gold call options imply less than a 1 in 100 chance of a severe tail event over the next month, despite being among the most reactive assets to rising Korean tensions last week. With record low Gold vol slaved to record low real rates vol, this represents a loose anchor which likely won’t hold in any significant geopolitical risk escalation. In contrast to gold, Nikkei is at the other end of the spectrum with options assigning over a 5% chance of a near term tail-event.

    This post was published at Zero Hedge on Oct 3, 2017.


  • Russia Provides New Internet Connection To North Korea

    A major Russian telecommunications company appears to have begun providing an Internet connection to North Korea. The new link supplements one from China and will provide back-up to Pyongyang at a time the US government is reportedly attacking its Internet infrastructure and pressuring China to end all business with North Korea.
    The connection, from TransTeleCom, began appearing in Internet routing databases at 09:08 UTC on Sunday, or around 17:38 Pyongyang time on Sunday evening. Internet routing databases map the thousands of connections between telecom providers and enable computers to figure out the best route to a destination.
    Until now, Internet users in North Korea and those outside accessing North Korean websites were all funneled along the same route connecting North Korean ISP Star JV and the global Internet: A China Unicom link that has been in operation since 2010.

    This post was published at Zero Hedge on Oct 2, 2017.


  • Trump’s China-Sanctions Madness Imperils the Dollar

    Earlier this month, US Treasury Secretary Steven Mnuchin threatened China, saying the US would ‘put additional sanctions on them and prevent them from accessing the US and international dollar system’ if they don’t go along with the most recent round of sanctions slapped on North Korea. We argued that the threat may be meaningful, but it also might be empty.
    In a recent article published on the Mises Wire, Ryan McMaken added another layer of analysis, arguing that if the US were to follow through on the threat, it would imperil the US dollar. McMaken’s reasoning dovetails with a point we’ve made more generally about Trump’s penchant for tariffs – that they will undermine the dollar. Of course, that’s good for gold.

    US Treasury Secretary Steve Mnuchin warned the US will impose new sanctions on China if it doesn’t conform to UN sanctions on North Korea:
    ‘If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U. S. and international dollar system, and that’s quite meaningful.’

    This post was published at Schiffgold on OCTOBER 2, 2017.


  • SWOT Analysis: Gold Falls – Can It Get Back Up?

    By Frank Holmes
    Strengths
    The best performing precious metal this week was palladium, up 1.67 percent. Palladium prices rose above platinum prices on expectations there may be a surge in gasoline engines from China before clamp downs on their use comes into effect. Gold traders and analysts surveyed by Bloomberg maintained their bearish bias for a third week despite North Korean tensions escalating after our military show of force last weekend with fly-by of their airspace. Despite gold having a lousy month with negative price action and a spike in volatility, to four-month highs seen in the metal, holdings in exchanged traded funds rose to their highest levels since last November. At this week’s Denver Gold Form, Randal Oliphant noted that the industry may be reaching peak gold production as major new discoveries have waned over the last couple of decades, despite industry spending or changes in technology. Weaknesses
    The worst performing precious metal this week was platinum, down 2.20 percent. Platinum is suffering a continued loss of market share to palladium in the near-term play out. Comments earlier in the week from Federal Reserve Chair Janet Yellen sent gold lower. Yellen said that it would be imprudent to leave rates on hold until inflation reaches 2 percent this year. Her co

    This post was published at GoldSeek on Monday, 2 October 2017.