Category Archives: Outside Commentaries

The Future of Chinese Gold Demand

One of the biggest precious metals stories over the past year has been the astounding physical gold demand from Asia, particularly China. The World Gold Council has just released a major report on the history and future of consumer gold demand in China.

“Chinese gold demand in 2013 was exceptional. Jewellery buyers and investors in bullion products took full advantage of the rapid and sizeable fall in local gold prices. They set the bar at a very high level – private sector demand for jewellery, investment and gold used in industrial applications hit a record 1,132 tonnes (t).

We expect 2014 to be a year of consolidation. The sudden price drop in 2013 meant some Chinese consumers brought forward jewellery and bar purchases, which may limit growth in demand in 2014. Expansion by the trade is also expected to slow, particularly in terms of additional manufacturing capacity. However, the lower domestic gold price should support purchases by consumers, especially of 24 carat jewellery. Over the medium term physical gold demand is likely to see further growth driven by a number of factors, including…”

Download the Full Report Here

WGC Chinese gold demand

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A Glimpse into India’s Gold Culture (Audio)

Extremely high government tariffs are blamed for the slump in Indian gold demand in 2013, which allowed China to surpass India as the world’s largest gold consumer. However, there has recently been talk of easing India’s gold import tariffs, which might trigger another surge in demand for the yellow metal. Even National Public Radio has taken notice of India’s love of gold. This story, from NPR’s Morning Edition, takes a look at the vital role the yellow metal plays in the culture as a form of wealth preservation, particularly for women. Wouldn’t it be nice if Westerners had such a implicit understanding of the value of real money?

“Her stockpile of gold earrings, rings, necklaces, and hairpins is lavish but also reflects the centrality of gold in an Indian woman’s life. It’s given for pregnancies; at births; when a baby first eats solid food. It’s engrained in the cultural lexicon.”

Listen to the Full Story Here

npr india gold

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Look Out for Crash Like ’87 – Only Worse (Video)

On CNBC yesterday, Marc Faber laughed out loud at the idea that investors have confidence in the Federal Reserve continuing its quantitative easing tapering. More likely, he argued, they will increase the stimulus. He also said that he wouldn’t be surprised if the S&P dropped 20-30% in 2014 and that a 1987-style crash is possible in the next twelve months. Precious metals are one of the few segments of the market that Faber thinks are undervalued right now.

“I think the market is very slowly waking up to the fact that the Federal Reserve is a clueless organization. They have no idea what they’re doing. And so the confidence level of investors is diminishing… How much can the Bureau of Labor Statistics lie about the true cost of living increases in the United States and elsewhere?… Food prices are going up, energy prices are up, health care costs are up.”

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Prepare for a Dollar Doomsday (Video)

Jim Rickards, author of Currency Wars and The Death of Money, spoke with Bloomberg TV this week about how the Federal Reserve’s interest rate suppression is manipulating every market in the world. Want to preserve your wealth in the coming dollar collapse? Buy gold and hard assets, says Jim.

“The Fed’s insolvent… the insiders will tell you that privately, they won’t say it publicly… The ultimate backing of the dollar is confidence… Money is a perpetual non-interest bearing note issued by an insolvent central bank. How long can that go on for until people walk away from it?”

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US Economy Is in the Eye of a Storm

The Daily Bell recently interviewed Doug Casey about “The Continuing Debasement of Money, Language and Banking in the Modern Age.” Casey talks not just about the evils of our central banking system, but also the fundamental case for gold and the end of Western civilization as we know it.

“I don’t see a real recovery until they stop debasing the currency, radically cut government spending and taxation and eliminate most regulation. In other words, cease doing the things that caused this depression. And that’s not going to happen until there’s a collapse of the current order…

I expect that we’ll go out of the eye of the storm this year; it’s overdue, actually. The analogy I like to use is that the leading edge of the storm was in 2007, now we’re in the eye of the hurricane, and when we move into the trailing edge it’s going to be much, much worse and last much, much longer than it was in the leading edge.”

Read the Full Interview Here

doug casey

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Outsmarting Money-Printing with Gold & Silver (Video)

Greg Hunter of USAWatchdog interviewed Axel Merk about a broad range of topics this week. Merk talked about how the Federal Reserve’s policies do nothing for Main Street and why Yellen’s Fed is not going to stop the money spigot or raise interest rates anytime soon. They also spoke about the shortages of physical gold and silver due to higher and higher safe haven demand.

“Sure enough, when gold goes up for 12 years in a row, guess what? Some people use leverage. And so there has to be liquidation when the price plunges. That doesn’t mean there isn’t any demand there, of course. I don’t think of it as manipulation. I think of it as an opportunity. While the paper market is deleveraging, that provides opportunity, because the nominal price is lower. And it’s a buying opportunity if you want to buy the physical. That’s exactly what’s happening, that’s why there are shortages.”

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Top Signs the Dollar Is Doomed

Eddie van der Walt at the Bullion Desk interviewed James Rickards last week about the US dollar and gold. Rickards discussed some of the important signs that will signal the end of the world’s reserve currency, many of which are already occurring. Richards argues that gold is one of the best assets to protect yourself from the dollar’s collapse.

“The most likely outcome is some sort of catastrophic collapse, he said. ‘You could have a hyper-inflationary outburst, followed by collapse and social disorder, followed by some sort of neo-fascist deflation.’

Flowing from this, he said, the US currency will be devalued against gold – meaning large increases in the dollar price of gold.

Rickards predicts gold at $9,000 per ounce if the world moves to a quasi-gold-backed currency.

‘This is how things played out between 1921 and 1934 in Germany, so there is a precedent,’ he said.

But he says that there may be hope for investors even in such dark times. “Perhaps you, the individual, cannot stop the catastrophe, but you can protect yourself.

‘You don’t have to wait for a gold standard, you can put yourself on a gold standard by going out and buying some physical gold.’”

Read the Full Interview Here

rickards

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Gold for the Long Run

In a new commentary on MarketWatch, Cody Willard explains his reasoning for holding physical gold and silver for the long-term. In spite of short-term bearish sentiment, Willard has to admit that precious metals are an important part of his portfolio for the next 10 to 50 years!

“That doesn’t mean that I’m selling any of my own holdings of physical gold and silver coins and bullion. Far from it. I’d welcome yet another opportunity to scale into more physical gold if there were to be another near-term crash in its prices. I plan to own my own physical gold basically for the next 10 to 50 years. Let’s discuss…

We know that the developed world’s governments here and around the world are actively engaging in broad-reaching currency wars, mostly trying to keep their currencies weak in the name of spurring export growth and helping transnational conglomerates maximize their reported earnings. We know that the Fed is in way uncharted (and frankly, un-”chartered“) territory using all kinds of tools like 0% interest rates and QE and so on to artificially repress interest rates and force people to take on excess risk in search of yield.”

Read the Full Piece Here

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World Gold Investment Is Too Low

According to the World Gold Council’s latest research, most investors are under-allocated to physical gold. In the latest edition of Gold Investor, the WGC explains the importance of gold in an expanding and overvalued global financial system.

“Despite a significant price pullback mostly during 2013, gold has risen for most of the past decade on the back of growth in emerging markets, economic uncertainty, central-bank demand and constrained supply. Even so, gold remains a widely under-owned asset. Gold holdings account for 1% of all financial assets – a by-product both of its scarcity and the unprecedented growth in other financial assets. Further, gold’s low ownership rate stands in stark contrast to levels seen in past decades, as well as what research suggests optimal gold allocations should be.”

Download Gold Investor Here

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Gold’s Purpose in a Paper World (Video)

On Yahoo! Finance’s The Daily Ticker, Jim Rickards defends gold as an important safe-haven asset for every investor. Rickards says we must ignore the bearish sentiment and focus on the excellent fundamentals that have not been affected by 2013′s downturn. As confidence in paper currencies collapses, look for gold to rise again.

“When confidence is lost in paper currencies, [it could be that] the IMF, or the Fed, or the ECB have to restore confidence. How do you do it? One way to do it is to go back to a gold standard. If you go back to a gold standard, you have to get the price right. $7,000 to $9,000 is the implied non-deflationary price… A lot of people say you can’t have a gold standard because there’s not enough gold. That’s nonsense, there’s always enough gold, it’s just a question of price.”

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