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Monthly Archives: August 2013
Today’s Key Gold Headlines – 8/20/13
- UK Gold Exports Surge Tenfold This Year, Financial Times
- Gold Rises as Weaker Dollar Boosts Demand for Alternative Asset, Bloomberg
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Posted in Daily Gold Headlines
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Peter Schiff Debates Inflation (Video)
The Huffington Post hosted a virtual debate over inflation last week, and Peter Schiff was the only participant who staunchly maintained that inflation is a bad thing. In fact, no one even agreed with Peter on the basic definition of inflation: an increase in the money supply. So if you agree with Peter and are concerned with the inflation you see in your everyday life, what is your plan to protect yourself from it? Physical precious metals remain one of the most popular safe haven investments.
“This crisis that’s coming is even [more obvious]. What’s amazing is that so many people who were oblivious to what happened in 2008 still don’t understand why that crisis occurred and they still don’t understand why a bigger crisis is looming… The exact same set of policies that gave us the housing bubble and the ’08 financial crisis are the ones that we’re using now to give us this next crisis. The only difference between the policies now and policies then is that they’re bigger in size.”
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Posted in Interviews, Videos
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Today’s Key Gold Headlines – 8/19/13
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Posted in Daily Gold Headlines
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Surging Gold Bullion Demand as Wealth Heads East
The big news out this week comes from the World Gold Council’s 2nd quarter Gold Demand Trends newsletter, which revealed that demand for physical gold increased more than 50% over 2012. Global gold jewelry demand rose 37%, a five-year high.
Read the Full Gold Demand Trends Here
The majority of the surging demand is attributed to unrelenting precious metals consumption in Asia, particularly China and India. Pair that with the news today that China, Japan, and other countries continue to sell huge amounts of US debt, and it looks pretty clear that real wealth is migrating East. An article in The Telegraph explains:
“Stocks of physical gold crossed continents in the first half of 2013 as Westerners dumped their holdings and, on the other side of the world, the resulting fall in price sent consumers flocking to jewellers and bullion dealers.
Indian, Chinese, Thai and other Asian consumers flocked to jewellers and bullion dealers to build their holdings.
The trend, disclosed in the latest data from the World Gold Council, a trade organisation established by the gold mining industry, highlights the different ways in which gold is viewed and owned around the globe.”
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Posted in Daily Gold Headlines, Outside Commentaries
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Davidowitz: US Economy Is Collapsing (Video)
Howard Davidowitz, an expert retail analyst, spoke with Yahoo! Finance about Walmart’s poor earnings report and what it indicates for the rest of the US economy.
“The economy is in a state of collapse… I think there’s a 50% chance we’ll be in a recession next year… That’s after spending $7 trillion dollars, printing trillions, and announcing we were brilliant to have done it… We’re in the tank, and by the way, our debt never goes away… We’ve spent all the money, we’ve borrowed all the money, and we’re in the tank…”
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Posted in Interviews, Outside Commentaries, Videos
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Today’s Key Gold Headlines – 8/16/13
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Posted in Daily Gold Headlines
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A Roadmap to $3,000 Gold & $100 Silver
King World News published an interview with Citibank analyst Tom Fitzpatrick this week, outlining the technical reasons for why gold and silver may be setting up for a big rally in the near future. If Fitzpatrick is right, silver could lead the rally to record highs.
“Our bias has been that even though the down-move came a little bit deeper than expected, it was still a corrective move within the overall broad-based uptrend. And the recent action in the silver market has really started to support that.
Silver did a perfect 76.4% retracement of the entire 2008 to 2011 move. Last week silver had a ‘positive outside week,’ closing at the highs of the move effectively (see chart below). This strongly suggests that silver may push to the topside.”
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Posted in Outside Commentaries
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Santelli Riled by Bogus Government Inflation Stats (Video)
Rick Santelli blew his top this week on CNBC as he got exasperated with a discussion about the eventual tapering of quantitative easing. A lot of people are getting tired of the same old story that tapering is just around the corner, only to find that a new set of data indicates it’s just not a good time yet.
“If they can’t figure out a way to continue the sugar buzz one way, they’re going to look at the PPI numbers and the CPI numbers and they’re gonna make the case that the old bogeyman of disinflation is in the closet… I don’t believe the government’s calculations… I don’t have better numbers, I have common sense… There’s a difference between real life and the government…”
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Posted in Outside Commentaries, Videos
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Today’s Key Gold Headlines – 8/15/13
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Posted in Daily Gold Headlines
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Rickards: Fed Won’t Taper, Bullish for Gold (Video)
Jim Rickards, author of Currency Wars, appeared on Fox Business last week to talk about currencies. While Rickards made it clear that he didn’t have any faith in the dollar, he really wanted to talk about the bullish fundamentals for gold investing throughout most of the interview.
Watch the Full Video Here
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