Tag Archive : gold price

Gold Price Declines Monday Due to Bullish Factory Reports Out of China

Gold prices declined Monday with investors turning to other asset classes after reports of an expanding Chinese factory sector and a rising dollar reduced demand.

Spot gold fell 0.3% at $1,459.94 per ounce at 0645 GMT. Prices had earlier reached highs dating back to Nov. 22. U.S. gold futures declined 0/5% to $1,466.

An expansion in factory activity during November in China, which ranks as the world’s second largest economy and biggest consumer of gold, led investors into equity markets. Read More

How Will Gold Prices Shape Up in 2016?

Gold prices have had quite the struggle over the past five years as the global economy has slowly recovered from the financial crisis of the late 2000s. The precious metal has posted annual losses three years in a row now, with 2015 seeing a 12% loss alone.

So as 2016 begins to take shape and investors take a look at what’s worth a buy, are we looking at a fourth year of losses? The answer is most likely.

Read More

Another Billion Dollar Gold Sale At Illiquid Trading Hours

Overnight someone sold 1.2 million ounces of gold and it brought the price of gold down $12. That’s about a billion dollar trade. Here’s the chart showing the liquidation. As ZeroHedge writes,

For the 5th day in a row, “someone” has decided that 0030ET would be an appropriate time(assuming the ‘seller’ is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold – amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.

Read More

This Sign From The Press Could Be Bearish For Gold

The mainstream is alit with stories covering gold and silver now that each has fallen through any semblance of resistance.  CNBC is leading the charge, having published six stories in the 24 hours preceding 4:30pm PST on Tuesday. The six stories are as follows:

What caused the ‘Vomiting Camel’ pattern in gold?

Gold edges up from 4-year low as dollar rally pauses

Here’s the tragic irony of the gold bubble: Pro

Read More

Why Did The US Mint Lift Its Rationing Of American Silver Eagles?

[heading]Why Did The US Mint Lift Its Rationing Of American Silver Eagles?[/heading]

On Friday the US Mint announced it would stop rationing its popular American Silver Eagle bullion coins due to falling investment demand.

The Mint began rationing the American Silver Eagles last year due to sustained demand but recently told its authorized dealers they could buy as many Silver Eagles as they wish starting Monday.

The US Mint has been rationing coin sales to its authorized dealers since late January, 2013 following a suspension due to unprecedented demand, which depleted silver coin blanks. Read More

Bank Lawsuits For Gold Manipulation Move Forward

All markets are rigged. But this is the story of one market in particular – the gold market. For a long time the price of gold has been fixed in London, and increasingly people are starting to question this process.

In its article “Banks Sued On Claims Of Fixing Price Of Gold” The New York Times highlighted the gold price suppression case. Traders and activists have been crying foul for years regarding the price of gold, arguing that it is rigged like energy prices have been by companies such as Enron and JP Morgan, and LIBOR. At the beginning of this week, on Monday, these arguments got a new audience: a federal court. Read More

Gold Price Lower After Easter Holiday

[heading]Gold Price Lower After Easter Holiday[/heading]

After a price rise and signs of bullishness, gold has fallen to a two-and-a-half-week low due to thin trading after the Easter Holiday.

Gold’s price was hurt in part by technical selling after it could not hold the $1,300 an ounce level with many people foreseeing a bottom at $1,280.

“One aspect is that the market is pretty thin today and liquidity is going to be constrained,” said Victor Thianpiriya, an analyst at ANZ. Read More

Gold Drops $10 In 10 Seconds As Britain Announces Gold Manipulation Investigation

[heading]Gold Drops $10 In 10 Seconds As Britain Announces Gold Manipulation Investigation[/heading]

What happens when you open up an investigation into the gold market? The price drops $10 in 10 seconds.

With investigations by the CFTC into the silver market fading in the US, regulators in Britain have decided to review whether global benchmarks tied to gold trading were manipulated. This investigations is a part of a larger investigation of potential manipulation of the $5 trillion a day currency market, Libor. Read More

High Bitcoin Prices Drive Gold Demand

[heading]High Bitcoin Prices Drive Gold Demand[/heading]

Gold investors might have been put off by Bitcoin in recent months. After all, it was supposed to be their safehaven of choice – one tried and tested throughout history – which was to preserve their assets against dollar collapse…not some other, tangential investment.

But, since gold peaked in the fall of 2011, it and silver have both posted long-term corrections, even crossing over into bearish territory, with interest in the topic, according to Google Trends, at an all-time low.

In the meantime, Bitcoin has revolutionized money. Read More

American Gold Eagle Bullion Sales Decline

[heading]American Gold Eagle Bullion Sales Decline[/heading]

September is the second month in a row in which American Gold Eagle coins sold much fewer compared to one year ago. At the beginning of August, one month sales of the Gold Eagle reached a six year nadir.

Despite weakness in gold coin sales, the American Silver Eagle bullion coin has continued to sell and remains on pace for record annual sales. Read More

Visa/MasterCard Will Prevail In US Over Bitcoin Despite “Swipe Fees”…For Now

[heading]Visa/MasterCard Will Prevail In US Over Bitcoin Despite “Swipe Fees”…For Now[/heading]

I spend a lot of time thinking about in which frontier markets Bitcoin is going to explode and really change the game of value. What grand equation can I concoct in favor of Bitcoin’s success somewhere? Not that I am trying to make things up as I go, I am just trying to be hip. But, I thought about something Wendy McElroy from The Dollar Vigilante wrote recently:

 Simplify, simplify.” — Henry David Thoreau

Read More

The Illusion Of Tangible Assets

[heading]The Illusion Of Tangible Assets[/heading]

Gold and silver investors have taken issue with Bitcoin, claiming that it is not a tangible asset, like gold and silver.

Their hypothesis is usually stooped in the notion that anything is truly “physical” as we perceive it in the first place. What if, counter-intuitively, the entire universe was composed of 0’s and 1’s itself? What if the universe was digital? Wouldn’t that mean that gold, silver, platinum and palladium are all, in fact, digital as well? Read More

Why I Donated Bitcoin To The Acapulco Recovery Fund

[heading]Why I Donated Bitcoin To The Acapulco Recovery Fund[/heading]

By: Justin

When The Dollar Vigilante Jeff Berwick setup a fund to help Acapulco recover from a recent flood-disaster in which eastern regions of the historic city were badly damaged, if not nearly destroyed, I felt implored to send a little bit of my digital cash reserves to aid in the effort. I wasn’t the only one.

I had been chewing on the notion as of late that, in a peer-to-peer economy, such as what Bitcoin represents, the users themselves represented the “social safety net.” Read More

Small Business Owners Speak Up: What Will It Take For Them To Accept Bitcoin?

[heading]Small Business Owners Speak Up: What Will It Take For Them To Accept Bitcoin[/heading]

BitPay recently announced their 10,000th merchant. Some reports posit the Bitcoin payment processor is growing faster than Bitcoin itself.

According to the press release, “The merchants in BitPay’s directory are diverse internationally, with approximately 50% located in North America, 25% in Europe, and 25% in the rest of the world.”


GoldSilverBitcoin recently interviewed small business owners who have yet to take the leap into the deep-end and accept Bitcoin full-time.

What we got were varied answers. There was one somewhat common theme: vendors who simply hadn’t heard of processors like BitPay or CoinBase, which allow small businesses to convert their bitcoins to cash within a few business days. Many small business owners worried about their company’s cash-flow, first and foremost. Others worried about reputation, and the reputation Bitcoin brings. Read More

American Silver Eagles Second Highest Sales Yearly

[heading]American Silver Eagles Second Highest Sales Yearly[/heading]

This past Monday, 675,000 Silver Eagles were purchased, marking one more milestone as their total this year sold has hit 34,925,000. Annual sales rankings for the bullion coins sees 2013 in second place all-time. Here are the top five annual sales years, and further information by CoinNews: Read More

“Ben Bernanke? Oh yeah, that bearded Jewish Guy. What’s He Do?” or The Stage That Is Economic Policy

[heading]”Ben Bernanke? Oh yeah, that bearded Jewish Guy. What’s He Do?” or The Stage That Is Economic Policy[/heading]

By: Justin

Ben Bernanke spoke today. If you don’t know who Ben Bernanke is, he is the Fed Chairman. What’s that? That’s what Alan Greenspan was before him. Yeah, we’ll get a new one soon.

When Benny & his jets (colloquial reference to his money-printing habits) speaks, the market listens.

What does it mean when the market listens?

It means that everyone gathers around television cameras and pundit typewriters and yells or types really loud and eventually certain screams and typing become louder (EVEN ALL CAPS). And then the robots take over. Read More

Marijuana Laundered Bitcoin: A Tale Of The Disbanked

No, this isn’t some story about how Bitcoin was used to launder marijuana.

This is a story about something different. A story of US-based small business owners yearning to make something of themselves, yearning to do what their immigrant forbearers did and dream big and then realize those dreams.

For small business owners in Colorado and Washington, as bitcoiners look on with jealousy, these dreams might be an inch closer to coming true. Read More

What Bitcoin Knows Gold Does Not: The Syria Outcome

The last two weeks have seen Bitcoin climb back to $130 after collapsing from $266 to $80 in April. Since then, due to diverse hands entering the market, a sense of stability fell upon the Bitcoin market.

Then, in the wake of Syria war chanting, Bitcoin steadily moved beyond $100 and did not pause for perspective until $130. At time of this writing, Bitcoin stands at $122.

But, why? Read More

IMF Reassess Global Economic Fate

[heading]IMF Reassess Global Economic Fate[/heading]

The IMF has changed their prior view that emerging markets were to rescue the world from global depression.

A confidential note on world economic prospects was seen by the Financial Times. In this note, the IMF imparts that it believes emerging economics are no longer the dynamic engine of global growth. The fund instead wrote,  “momentum is projected to come mainly from advanced economies, where output is expected to accelerate”. Read More

NASA In Search Of Internet’s Next Generation

[heading]NASA In Search Of Internet’s Next Generation[/heading]

The question “Is Bitcoin here to stay?” is a common refrain. One that an enthusiast hears often.

It is here to stay, believe many. After all, isn’t a bet for decentralized virtual currencies like Bitcoin merely a bet for the Internet?”

Currently, NASA has developed plans to test a potential new system of human communications, with implications for terrestrial and extra terrestrial data transfer.

NASA plans on launching a new communications technology this Friday which will allow for a record-smashing 600 megabits-per-second downloads. The resulting probe will orbit the moon and send communications back to Earth via lasers. Read More

What Was The Silver Republican Party?

[heading]What Was The Silver Republican Party?[/heading]

In the 1890s, the Silver Republican Party rose out of a split from the Republican Party. The main issue the two disagreed on was “Free Silver” and bimetallism.

During that period, goldbugs and silverfish had been pitted against each other. Some, namely city interests, called for a gold standard to stem inflation. This harmed farmers who held much of their savings in silver until that time. These interests longed for a bimetallic standard. Read More

Silver Quietly Sneaks Back Up, Probably Never To Be This Low In Our Lifetimes Forevermore

[heading]Silver Quietly Sneaks Back Up, Probably Never To Be This Low In Our Lifetimes Forevermore[/heading]

It has been a long, winding road for silver, but it appears the most recent run up from the bottom of around $18 to nows’ nearly $25 has tickled the excitement of silverbugs.

On Facebook, author Tarrin Lupo (Pirates Of Savannah) even boldly proclaimed that “The price of Silver is quietly sneaking back up, probably it’s the last time it will be this low in our lifetime.” Read More

Silverbugs Guilty Until Proven Innocent

[heading]Silverbugs Guilty Until Proven Innocent[/heading]

Looking for drugs, drug detection officers in Newcastle found something quite different on a 34-year old man they searched: a stash of silver bullion. No mind-altering substance in tow, it did not matter, for the man had his silver taken and must appear in court. Read More

What Was “Free Silver?” A Look Back At The Free Silver Movement

[heading]What Was “Free Silver?” A Look Back At The Free Silver Movement[/heading]

The late nineteenth century was a curious time for the US. One of robber-barons and captains of industry, the late nineteenth century was also a time of “free silver”, a central American policy in favor of inflation by silver, which might be a foreign concept to todays silver bugs. What did the opponents of free silver support? The gold standard. Hmm…

The supporters of the the inflationary monetary policy of free silver were known as “Silverites,” and they were in favor of bimetallism. That is, the use of silver and gold as currency. Their ratio is familiar to those in the precious metals circles: 16 to 1. Read More

Update On Bitcoin Foundation Trip To Washington DC

[heading]Update On Bitcoin Foundation Trip To Washington DC[/heading]

The pleasant thing about Bitcoin, perhaps the most important, is its’ ability to bring people together across diverse backgrounds. The last two days in Washington DC proved just that, as The Bitcoin Foundation was invited to a meeting with some of the US’s top agencies, as GoldSilverBitcoin reported here.

The sober perspective on the meeting is that it is something that happens all the time. The Bitcoin Foundation was not issued a subpoena. The tone of the meeting was one of men with different worldviews, at least in many cases, coming together to discuss something some knew much about, and the others did not. According to the following account, it was a peaceful endeavoring. Read More

Bitcoin Foundation Meets With Regulators Across US Government Offices

[heading]Bitcoin Foundation Meets With Regulators Across US Government Offices[/heading]

With increasing amounts of pressure being put on the decentralized virtual currency Bitcoin, representatives of the Bitcoin Foundation – a California based nonprofit – have organized an event bringing them together with officials across governmental bodies, from the Federal Reserve to the IRS.

“Look guys, Mr. Federal Reserve, Mr. IRS, let’s be honest….how many users will ACTUALLY be using VPN?”

Read More

Bitcoin Vs. Fiat’s Best: The Norwegian Kroner

[heading]Bitcoin Vs. Fiat’s Best: The Norwegian Kroner[/heading]

A “safe” fiat currency? There can be no such thing…

Or can there?

First of all, a nation’s currency is issued by its central bank, and a central bank, just like an ordinary bank, has assets and liabilities.

Assets that a central bank might have are things such as government bonds and gold. A central bank’s liabilities include the nation’s money supply, known as central banks ‘notes,’ even though most of these exist digitally these days. Read More

1 Big Reason September Could Be Silver’s Month

[heading]1 Big Reason September Could Be Silver’s Month[/heading]

Silver has corrected since its’ 2011 high of nearly $50 an ounce. At that point, “49ers” ran in droves to the devil’s metal, only to lose considerable amounts of wealth, vanished in the Sunday selloff on MayDay of that year.

Now, more than two years later, many silverbugs learned a lesson that many people in the banking crisis learned: cash is King. In other words, those who control the cash are in control. Read More

A Silver Lining In Golden Opportunities?

[heading]A Silver Lining In Golden Opportunities?[/heading]

 

“Bulls don’t read. Bears read financial history. As markets fall to bits, the bears dust off the Dutch tulip mania of 1637, the Banque Royal of 1719-20, the railway speculation of the 1840s, the great crash of 1929.”  – James Buchanan

 

Saving money reduces stress. It gives us the cushioning we need to make the decisions we want to make.  Many investment advisers will impart that most of their time is spent telling people where not to put their money. Why the emphasis on this? Read More

Where Broken Dreams Reside: The End Of Gold’s Bull Market & The $70 Trillion Debt

[heading]Where Broken Dreams Reside: The End Of Gold’s Bull Market & The $70 Trillion Debt[/heading]

“The gigantic, decade-long rally I don’t think will be repeated, at least in my lifetime,” said Michael Aronstein, 60, president of Marketfield Asset Management LLC, which manages more than $13 billion in New York. Aronstein predicted the 2008 slump in commodities prices and the 2009 rebound.

Yet, the demand of goldbugs remains stalwart indeed. How can one argue with a metal that has kept the attention of humans since it was fashioned into decorative objects and jewelry on the coast of the Black Sea 6,000 years ago?

In mainstream press epistemes, however, the gold bull market is over. Read More

Could Gold Still Hit $1,600 By Year’s End?

[heading]Could Gold Still Hit $1,600 By Year’s End[/heading]

More and more people all the time are allocating increasing amounts of their financial portfolios into precious metals, in particular gold.

Many see it as a great time to buy, what with gold down 20% YTD.  This year large institutions have been selling gold and silver, while individuals are holding and retail demand strong. But, as of July, this started to change: demand began outpacing supply. Read More

World Gold Council: Ben Bernanke Does Not Control Gold Prices

This just in? Ben Bernanke DOES NOT control the gold price. But…that does not mean supply/demand does either…

The World Gold Council has posited in a research paper entitled “Gold and the US interest rates: a reality check” that perhaps Ben Bernanke does not hold as much sway over the gold price as many believe. Read More

Gold’s Best Rally Since 2011

[heading]Gold’s Best Rally Since 2011[/heading]

Hedge funds guessed right when they bet on a gold rally before prices went onto to their biggest two-week gain in 20 months as the Federal Reserve Chairman Ben S. Bernanke speculated that a slowing of quantitative easing appeared to be on the horizon. Read More

Gold & A Storm of Data Heading The Market’s Way

[heading]Gold & A Storm of Data Heading The Market’s Way[/heading]

With a storm of data heading the markets’ way, things should be volatile in the coming days. Gold has reflected just this in early trading.

Gold persisted on with its blazing Friday performance on Monday, increasing in overnight (Sun-Mon) trading from $1235-$1256 by 12:45pm (EST), in part based upon a factory employment drop last month to the lowest in nearly four years. This despite an increase in manufacturing. Read More