• Tag Archives Sanctions
  • VIX Tumbles, Global Stocks And Dollar Rally As Korea Tensions Ease

    Overnight bulletin summary
    Global equities trade higher amid easing geopolitical tensions Pound tumbles on weaker than expected inflation data Today’s calendar includes US retail sales, Empire Fed, import prices, NAHB, and API crude oil inventories Global stocks and US futures are up for a second day, with the VIX sliding 0.65 vols to 11.68 (-5.2%) and haven assets dropping, after a KCNA report report suggested North Korea had pulled back its threat to attack Guam after days of increasingly bellicose “fire and fury” rhetoric with President Trump, and hours after China took its toughest steps to support U. N. sanctions against Pyongyang, while the possibility of a Sino-American trade war was played down. The report, from KCNA on Tuesday, said Kim praised the military for drawing up a ‘careful plan’ to fire missiles toward Guam. Kim was cited by KCNA saying he would watch the U. S.’s conduct ‘a little more.’
    “There is a more relaxed attitude being taken towards the Korean situation in markets. With the report North Korea has put its plans on hold, there is a sense of stepping back from the brink,” Rabobank analyst Lyn Graham-Taylor said.

    This post was published at Zero Hedge on Aug 15, 2017.


  • Global Markets Roiled By Trump Warning North Korea Of ‘Fire and Fury’

    This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
    (Kitco News) – There is keener anxiety and risk aversion in the marketplace Wednesday after U. S. President Donald Trump warned North Korea there would be ‘fire and fury like the world has never seen’ if North Korea keeps threatening the U. S.
    North Korea, meantime, responded by saying it may fire a missile toward the U. S. territory of Guam. North Korea had recently threatened to use its nuclear weapons against the U. S. after the United Nations slapped more sanctions on the rogue nation. Some U. S. lawmakers have criticized Trump for his remarks Tuesday on North Korea, saying he should tone down his rhetoric.
    World stock markets sold off Wednesday on the heightened U. S.-North Korea tensions. U. S. stock indexes are pointed toward lower openings when the New York day session begins.
    Gold prices are solidly higher on safe-haven demand. U. S. Treasuries are also seeing safe-haven buying after Trump’s North Korea remarks to reporters in New Jersey on Tuesday.

    This post was published at Wall Street Examiner by Jim Wyckoff ‘ August 9, 2017.


  • Indonesia Will Barter Coffee, Tea And Palm Oil For Russian Fighter Jets

    On Monday Russia warned that it would begin aggressively reducing its dependence on the US Dollar and US-based payment systems, and shortly after it confirmed just that when Indonesia announced that it will barter coffee, palm oil, tea and various other commodities in exchange for 11 Russian-made Su-35 fighter jets, calling U. S. and European sanctions against Russia “an opportunity to boost the Southeast Asian nation’s trade.”
    The Indonesian Ministry of Trade said that a memorandum of understanding for the barter was signed Aug. 4 in Moscow between Russia’s Rostec and PT. Perusahaan Perdagangan Indonesia, both state-owned companies. ‘This barter under the supervision of both governments hopefully will soon be realized through the exchange of 11 Sukhoi Su-35s and a number of Indonesian exports, starting from coffee and tea to palm oil and strategic defense products,’ Indonesian Trade Minister Enggartiasto Lukita said on Monday, as quoted by Reuters.

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


  • AUGUST 7/GOLD UP 30 CENTS/SILVER DOWN 3 CENTS/U.N. SANCTIONS NORTH KOREA WITH A 15-0 VOTE (VOTE IN THE AFFIRMATIVE BY CHINA AND RUSSIA)/NORTH KOREA OFFERS AN ANGRY RESPONSE TO THE ADDITIONAL SANC…

    GOLD: $1259.00 UP $0.30
    Silver: $16.27 DOWN 3 cent(s)
    Closing access prices:
    Gold $1258.00
    silver: $16.29
    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: $1263.73 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1258.81
    PREMIUM FIRST FIX: $4.92
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1264.29
    NY GOLD PRICE AT THE EXACT SAME TIME: $1258.15
    Premium of Shanghai 2nd fix/NY:$6.14
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1258.10
    NY PRICING AT THE EXACT SAME TIME: $1258.00
    LONDON SECOND GOLD FIX 10 AM: $1257.55
    NY PRICING AT THE EXACT SAME TIME. $1258.00
    For comex gold:
    AUGUST/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 73 NOTICE(S) FOR 730000 OZ.
    TOTAL NOTICES SO FAR: 3319 FOR 331900 OZ (10.323 TONNES)
    For silver:
    AUGUST
    1 NOTICES FILED TODAY FOR
    5,000 OZ/
    Total number of notices filed so far this month: 544 for 2,720,000 oz

    This post was published at Harvey Organ Blog on August 7, 2017.


  • Russia To Cut Dependence On U.S. Dollar, Payment Systems

    Russia’s Mir credit card to go European #SPIEF pic.twitter.com/BYMg99X2wC
    — SPIEF (@SPIEF) September 27, 2016

    Russia will speed up work on reducing its dependence on U. S. payment systems and the dollar as a settling currency in response to U. S. sanctions, Deputy Foreign Minister Sergei Ryabkov said on Monday.
    Quoted by Reuters, Ryabkov said that “we will of course intensify work related to import substitution, reduction of dependence on U. S. payment systems, on the dollar as a settling currency and so on. It is becoming a vital need.” The reason for that is that “the US is using its dominating role in the monetary and financial system to impose pressure on foreign business, including Russian companies.’

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


  • SWOT Analysis: What’s Next for the Yellow Metal?

    Strengths
    The best performing precious metal for the week was platinum, up 3.10 percent on money managers cutting their bearish views on the metal in light of the new Russian sanctions signed into law earlier in the week. Russia is the world’s second largest producer of platinum. Gold traders and analysts surveyed by Bloomberg are bullish on gold for a seventh week, reports Bloomberg, making it the longest run since early March. In addition, BullionVault’s Gold Investor Index, which measures client buyers against sellers, rose in July when gold prices reached an almost four-month low. The Perth Mint released gold coin and minted bar sales figures for July, coming in at 23,675 ounces and up from June’s figure of 19,259 ounces, reports Bloomberg. In an attempt to push for more transparency, London Bullion Market Association released data showing its $298 billion gold stash, reports Bloomberg. The data will ‘soon be augmented by trade reporting, which will further enhance the ability of market participants as well as regulators to track and asses market activity,’ said Joni Teves, a strategist with UBS in London. In July, $2.4 billion was pulled from SPDR Gold Shares, the biggest withdrawal since May 2013, reports Bloomberg. However, investors weren’t necessarily abandoning bullion-backed ETFs; they may have been moving their money into less expensive options. As the chart below shows, assets in the iShares Gold Trust reached an eight-month high. Perhaps this is because SPDR Gold charges a fee of 40 basis points, while iShares Gold Trust has an expense ratio of 25 basis points.

    This post was published at GoldSeek on Monday, 7 August 2017.


  • Stock Market News Today: Futures Rise Despite North Korea Nuclear Tensions

    This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
    The stock market news today is highlighted by the index’s ninth straight day of gains for futures this morning as markets prepare another fresh round of earnings reports. However, rising tensions in North Korea have investors increasingly concerned after China announced support for the latest round of United Nations’ sanctions.
    Here are the numbers from Friday for the Dow, S&P 500, and Nasdaq:
    Index Previous Close Point Change Percentage Change Dow Jones 22,092.81 +66.71 +0.30% S&P 500 2,476.83 +4.67 +0.19% Nasdaq 6,351.56 +11.22 +0.18% Now here’s a closer look at today’s most important market events and stocks, plus Monday’s economic calendar.

    This post was published at Wall Street Examiner by Garrett Baldwin ‘ August 7, 2017.


  • Gold could strengthen on seasonality in August and September

    Gold and Silver Bullion – News and Commentary
    Gold could strengthen on seasonality in August and September – GoldCore via Marketwatch (MarketWatch.com)
    Dow has its first close above 22,000 (Yahoo.com)
    Trump Signs Russia Sanctions Bill, But Lays Out His Concerns About the Law (Bloomberg.com)
    ‘Zuma will use the army to cling to power if he loses next week’s no confidence vote’ – analyst (TheSouthAfrican.com)
    Man claims to have found first silver piece minted by the U. S. (CTVNews.ca)

    This post was published at Gold Core on August 3, 2017.


  • Venezuela Bolivar Loses A Third Of Its Value In The Past Week

    With events in Venezuela now well into the endgame, following US sanctions that named “dictator” Maduro personally and a likely subsequent sanction that will cripple Venezuela’s oil industry promptly resulting in the nation’s insolvency as it loses its last remaining source of revenue, things are moving fast. So fast, in fact, that according to Reuters, Venezuela’s money supply surged 10% in just one week earlier this month, its largest single-week rise in a quarter of a century.
    Meanwhile, in addition to now daily protests and strikes, Venezuela is undergoing a major economic crisis, with millions suffering food shortages, monthly wages worth only the tens of U. S. dollars, and soaring inflation – although no official data is available. The central bank said late on Friday the total amount of local currency in circulation, or M2 as of July 21, was 27.3 trillion bolivars, up 9.66% from the previous week.
    Obviously, the exponential rise in M2, the sum of cash, together with checking, savings, and other deposits, also means an exponential rise in the amount of currency circulating. As a result, Venezuela’s money supply is up 384% in the last year. In contrast, the United States’ money supply is up 5.5% in the same period.

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


  • WTI Slides After Disappointing Crude Draw & Production Surge

    WTI prices dumped on last night’s surprise crude build but have limped back above $49 heading into the DOE prints this morning (although Russia sanctions headlines dipped it). DOE did not help as the report was a disappointment for the bulls with production rising to a new cycle high, crude inventories drawing less than expected but total U. S. oil inventories (that’s crude plus all products, including the often volatile “other oil” category) rose by 1.1 million barrels last week.
    API
    Crude +1.78mm (-3.1mm exp) Cushing +2.562mm (-700k exp) Gasoline -4.827mm (-1mm exp) Distillates -1.225mm DOE
    Crude -1.53mm (-3.1mm exp) Cushing -39k (-700k exp) Gasoline -2.52mm (-1mm exp) Distillates -150k

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


  • AUGUST 1/2017/SENATOR LINDSAY GRAHAM: ‘USA IS PREPARED TO STRIKE NORTH KOREA’/GOLD UP $4.95 BUT SILVER FLAT/GOLD AND SILVER EQUITY SHARES FALL AGAIN/CHAOS RUNS SUPREME IN VENEZUELA/USA SANCTIONS …

    GOLD: $1272.95 UP $4.95
    Silver: $16.79 UP 0 cent(s)
    Closing access prices:
    Gold $1269.00
    silver: $16.74
    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: $1275.01 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1270.25
    PREMIUM FIRST FIX: $4.76
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1274,31
    NY GOLD PRICE AT THE EXACT SAME TIME: $1269.35
    Premium of Shanghai 2nd fix/NY:$5.01
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1267.05
    NY PRICING AT THE EXACT SAME TIME: $1267.70
    LONDON SECOND GOLD FIX 10 AM: $1270.95
    NY PRICING AT THE EXACT SAME TIME. $1273.00
    For comex gold:
    AUGUST/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1309 NOTICE(S) FOR 130,900 OZ.
    TOTAL NOTICES SO FAR: 2946 FOR 294600 OZ (9.1632 TONNES)
    For silver:
    AUGUST
    71 NOTICES FILED TODAY FOR
    355,000 OZ/
    Total number of notices filed so far this month: 304 for 1,520,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    Yesterday I wrote the following:
    ‘On yesterday’s (Friday’s) commentary I thought we were going to have a raid today. I noticed that the gold/silver equity shares sold off badly yesterday and that is a sure sign that an attack will occur. Probably our crooks were blindsided today with the failure of the Republicans to pass the healthcare bill as well as lousy GDP report, the all important wage inflation is non existent and the passing of new sanctions against Russia. And then we can couple all of this with the new launching of a ICBM that could hit New York and Boston…and yet with all of that news, the gain in gold was less than 10 dollars and silver, 11 cents. However today again, the gold/silver equity shares fell off badly on closing and we have only Monday morning for options expiry. There has never been any time during any options expiry that the crooks have not generated a raid. So if they fail to raid on Monday, they are losing control as demand is far outstripping supply in our precious metals.
    it now looks like the boys have lost control of the gold/silver market/for sure silver with today’s attempted raid and failure. The bankers have decided to take their anger by hitting on the gold/silver equity shares.

    This post was published at Harvey Organ Blog on August 1, 2017.


  • Oil Just Plunged To A $48 Handle After Survey Suggests OPEC Output Jumped In July

    Extending losses from Goldman’s overnight report noting the minimal impact of Venezuelan sanctions, WTI crude just crashed below $49 on heavy volume after Bloomberg reports that a survey suggests that OPEC’s July oil output rose by 210K to 32.87mmb/d, led by growth in Libya who upped production by 180Kb/d to the highest since June 2013.
    The recovery of crude production from Libya is undermining OPEC’s efforts to curb its output as the African nation pumps unabated.
    Total crude production from the Organization of Petroleum Exporting Countries in July rose 210,000 barrels a day from June to reach 32.87 million barrels a day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.

    This post was published at Zero Hedge on Aug 1, 2017.


  • JULY 31/GOLD AND SILVER HOLD DESPITE THIS BEING THE LAST DAY FOR OPTIONS EXPIRY ON LONDON OTC CONTRACTS/WAR OF WORDS BETWEEN USA, NORTH KOREA AND CHINA RE THE NORTH KOREA’S LAUNCHING OF THAT ICBM…

    GOLD: $1268.00 DOWN $1.60
    Silver: $16.79 UP 9 cent(s)
    Closing access prices:
    Gold $1269.60
    silver: $16.85
    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: $1273,24.79 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1269.20
    PREMIUM FIRST FIX: $4.04
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    SECOND SHANGHAI GOLD FIX: $1272,13
    NY GOLD PRICE AT THE EXACT SAME TIME: $1267.80
    Premium of Shanghai 2nd fix/NY:$4.33
    xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
    LONDON FIRST GOLD FIX: 5:30 am est $1266.35
    NY PRICING AT THE EXACT SAME TIME: $1266.80
    LONDON SECOND GOLD FIX 10 AM: $1267.55
    NY PRICING AT THE EXACT SAME TIME. $1268.00
    For comex gold:
    AUGUST/
    NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 1637 NOTICE(S) FOR 163700 OZ.
    TOTAL NOTICES SO FAR: 1637 FOR 163700 OZ (5.091 TONNES)
    For silver:
    AUGUST
    233 NOTICES FILED TODAY FOR
    1,165,000 OZ/
    Total number of notices filed so far this month: 233 for 1,165,000 oz
    XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
    On Friday night I wrote the following:
    ‘On yesterday’s commentary I thought we were going to have a raid today. I noticed that the gold/silver equity shares sold off badly yesterday and that is a sure sign that an attack will occur. Probably our crooks were blindsided today with the failure of the Republicans to pass the healthcare bill as well as lousy GDP report, the all important wage inflation is non existent and the passing of new sanctions against Russia. And then we can couple all of this with the new launching of a ICBM that could hit New York and Boston…and yet with all of that news, the gain in gold was less than 10 dollars and silver, 11 cents. However today again, the gold/silver equity shares fell off badly on closing and we have only Monday morning for options expiry. There has never been any time during any options expiry that the crooks have not generated a raid. So if they fail to raid on Monday, they are losing control as demand is far outstripping supply in our precious metals.

    This post was published at Harvey Organ Blog on July 31, 2017.


  • Watch Live: Sarah Sanders Attempts To Explain What The Hell Is Going On At The White House

    Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S. C.: No WH chaos!
    — Donald J. Trump (@realDonaldTrump) July 31, 2017

    Update: Following comments from McMaster and Mnuchin on Venezuelan sanctions, pretty much every question at today’s White House press briefing was related to Scaramucci’s sudden dismissal. And while Sanders made it clear early on that she wasn’t going to offer any incremental details beyond the official statement released earlier, it didn’t stop pretty much every reporter from asking the exact same quetion over and over.
    *SANDERS: SCARAMUCCI HAS NO ROLE AT THIS TIME IN ADMINISTRATION
    *SANDERS: ALL WHITE HOUSE STAFF REPORT TO CHIEF OF STAFF KELLY
    *SANDERS: DECLINES TO SAY IF TRUMP REGRETS HIRING SCARAMUCCI

    This post was published at Zero Hedge on Jul 31, 2017.


  • Asian Metals Market Update: July-31-2017

    Factors which can affect markets
    This could be a big week for the US dollar as well as metals and energies. Crude oil could zoom if it manages to trade over $50. Boom or bust scenario for the US dollar index. There is nothing positive from Trump and his team. Unending Trump controversies haunt investors. Degradation of US-Russia to before cold war years can have a long term affect for global markets. America is not the sole consumer of the world now. Russian consumer demand is rising. American companies will be looser in the US-Russia spat. US-European union relations could be in serious jeopardy as sanctions on Russia hurt European companies in a big way.
    There is also some speculation that the current Federal Reserve chairman Janet Yellen could be renewed for another term next year. This will be positive for the US dollar and negative for gold and silver as it reduces uncertainty and also the pace of interest rate hikes will faster next year.

    This post was published at GoldSeek on 31 July 2017.


  • WTI Jumps Above $50 On Report US Prepping Sanctions Against Venezuela Oil Industry

    After both Brent and WTI rose above their respective 50DMAs on Friday, capping 2017’s best weekly rally for oil, the rising tide is accelerating as the latest CFTC COT data confirmed, when net specs boosted bullish Nymex WTI crude oil bets by 27K net-long positions to 423K, the highest in two months, as producers continued to cover short hedges, sending their net position to the most bullish since the summer of 2015.

    Meanwhile, oil started the Sunday session jumping out of the gate, with WTI rising above $50 for the first time since May in early Asian trading, following the usual non-material weekend chatter and “noise” out of OPEC (which to exactly nobody’s surprise “can’t stop pumping“), however what has attracted traders’ attention, is a WSJ report that following last week’s latest round of sanctions, and after today’s vote to overhaul Venezuela’s constitution further entrenching Maduro’s unpopular regime, US government officials are considering announcing sanctions against Venezuela’s oil industry as early as Monday, although as the WSJ notes, a full-blown “embargo against Venezuelan crude oil imports into the U. S. is off the table for now.”

    This post was published at Zero Hedge on Jul 30, 2017.


  • Seasonal Opportunity Knocks with Gold to S&P 500 Ratio Near All-Time Low: GSB Weekly Review for July 27

    ** News and Nonsense Nonsense: Russia and Putin are the Cause of … nearly every problem we can name. Or is the ‘Blame Russia Thing’ a diversion?
    ***
    Sanctions on Russia: From Mish: ‘Make America Safe: Put Congress on Permanent Recess’
    From Zero Hedge: ‘House Passes Veto-Proof Russia Sanctions Deal’
    The real reasons for sanctions on Russia:
    ‘The bill is aimed specifically at the Nord Stream 2 project, with BP and Shell as the largest European partners, and which the US considers as detrimental to its interests.’
    ‘…the controversial Nord Stream 2 project, which pans to get Russian gas directly to Germany through the Baltic Sea…’

    This post was published at GoldStockBull on July 27th, 2017.


  • Chapter 46: Church

    Christian Economics: Teacher’s Edition
    Now when Simon saw that the Spirit was given through the laying on of the apostles’ hands, he offered them money, saying, ‘Give me this power also, so that anyone on whom I lay my hands may receive the Holy Spirit.’ But Peter said to him, ‘May your silver perish with you, because you thought you could obtain the gift of God with money! You have neither part nor lot in this matter, for your heart is not right before God. Repent, therefore, of this wickedness of yours, and pray to the Lord that, if possible, the intent of your heart may be forgiven you. For I see that you are in the gall of bitterness and in the bond of iniquity.’ And Simon answered, ‘Pray for me to the Lord, that nothing of what you have said may come upon me’ (Acts 8:18 – 24).
    AnalysisSimon was a magician. He was famous as a result of his supernatural abilities. He liked this fame (vv. 9 – 12). He saw that the apostles possessed the power of imparting the Holy Spirit. He wanted to possess this power. So, he made them an offer of money if they would transfer this power to him. Peter condemned him verbally for having made this offer. He threatened God’s curse on him. Simon repented. He did not know that he would become infamous in history for having made this offer. The word simony derives from his name. This is the practice of purchasing a high church office.
    He made an error of theological judgment. He believed that power granted by God to the apostles was for sale to the highest bidder. It was not. The authority of the church is not for sale. Nothing associated with God’s judicial imputation of sin or righteousness is for sale. God grants redemption without any payment or promise of payment by the recipients. This is the doctrine of God’s sovereign grace. Covenant breakers cannot pay God in advance, nor can they repay Him after the fact. They do not possess anything of value in God’s eyes that could compensate Him for the value of the gift of salvation. Paul wrote: ‘For by grace you have been saved through faith. And this is not your own doing; it is the gift of God, not a result of works, so that no one may boast’ (Ephesians 2:8 – 9). He also wrote this: ‘For you were bought with a price. So glorify God in your body’ (I Corinthians 6:20).
    The Catholic Church in 1517 sold indulgences to those seeking release from God’s posthumous negative sanctions in purgatory. Martin Luther publicly called the legitimacy of these sales into question on October 31. He posted 95 theses against the sale of indulgences on the door of the church at Wittenberg. He offered to debate anyone on each of them. He naively thought the Pope would join him in his opposition. Thesis #5 said: ‘The pope neither desires nor is able to remit any penalties except those imposed by his own authority or that of the canons.’ Thesis #21 continued: ‘Therefore the pope, when he uses the words ‘plenary remission of all penalties,’ does not actually mean ‘all penalties,’ but only those imposed by himself.’ Thesis #91 insisted: ‘If, therefore, indulgences were preached according to the spirit and intention of the pope, all these doubts would be readily resolved. Indeed, they would not exist.’ Luther misjudged Leo X, who went along with the sale of indulgences. The money was being used to build St. Peter’s cathedral.

    This post was published at Gary North on July 27, 2017.


  • July 28/Gold rises by $9.30/silver up by 11 cents due to 1. lousy GDP report. 2. wage inflation non existent/3. Failure of the Senate to pass the skinny Health care bill. 4/ the Senate passes the…

    GOLD: $1269.60 UP $9.30
    Silver: $16.70 UP 11 cent(s)
    Closing access prices:
    Gold $1269.60
    silver: $16.76
    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: $1265.79 DOLLARS PER OZ
    NY PRICE OF GOLD AT EXACT SAME TIME: $1259.55
    PREMIUM FIRST FIX: $6.24

    This post was published at Harvey Organ Blog on July 28, 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.