Last week’s testimony by Janet Yellen, President Obama’s choice for the next head of the Federal Reserve, was quite interesting. What I also found fascinating was the reaction in various markets.
Yellen was testifying in front of the Senate Banking Committee, and when asked about the possible formation o... read more
According to the World Gold Council (WGC), demand for gold bullion in the third quarter was 869 tonnes. (Source: World Gold Council, November 14, 2013.) And in the quarter, central banks purchased 93 of those tonnes.
Central banks have now been buyers of the precious metal for 11 consecutive quarters. Why have ce... read more
What will the policies and monetary theories of Federal Reserve Vice Chairman Janet Yellen mean for the economy, and for gold in particular, as she takes the helm of the world's largest central bank? The Federal Reserve has a twin mandate of controlling inflation and unemployment, and many on Capitol Hill and elsewhere are concerned that she concentrates too much on the latter to the detriment... read more
Swiss ministers are opposing a plan to haul back the country's gold reserves stored abroad.
The seven-member ruling Federal Council, which includes the president, agreed Wednesday that it opposes the popular referendum expected to go before voters within several years. A "yes" vote would ban the Swiss National Bank from selling any gold r... read more
He sees silver fundamentals from the perspective of a historian and as an astute observer of present conditions. He studies the drivers of the silver market, supply, demand, mining, inflation, investment sentiment, central bank bond monetization policies, and politics.
What does he think?
1) Demand for silver is strong!
... read more
With the schizophrenia that seems to have availed across the FOMC members (hawks are doves, doves are hawks, tapering is not tightening, etc.) it is not surprising that the minutes reflect some confusion:
- *FOMC SAW `SEVERAL SIGNIFICANT RISKS' REMAINING FOR ECONOMY
- *FED TAPER LIKELY IN COMING MONTHS ON BETTER DATA, MINUTES SHOW read more
Much is made of the expected hockey-stick - any quarter now - in US GDP growth [6] (whether it's a lower fiscal drag or rise in CAPEX or any range of miracle-driven hope factors).
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In this in-depth and wide-reaching interview with Elijah Johnson, Rob Kirby (one of the industry’s foremost experts on the OTC/IR swaps derivatives market) discusses precisely how preciously metals market manipulation is likely to end, the super-nova shock to the US financial system that will result in the subsequent spike in interest rates, and the subsequent even... read more
Gold futures rose as the dollar’s drop boosted demand for the metal as an alternative asset. Platinum and palladium rebounded from four-week lows after South Africa’s main utility declared a power emergency.
The Bloomberg U.S. Dollar Index dropped to the lowest in almost two weeks on speculation that Federal Reserve officials will reiterate that economic growth isn’t yet sufficient to... read more
Based on the monthly figures to 1st October recently released by the St Louis Fed, FMQ jumped $227bn in September to $12,176bn. This puts it $4,819bn and 65% over the long-term exponential trend established between 1960 and July 2008, the month before the Lehman crisis. The revised chart is shown below.
