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The shutdown has been on of three US-centric factors that have supposedly been affecting the gold price in the last few weeks, the other two being the debt-ceiling and tapering.
Should a shutdown go ahead on November 15th, how will gold react? Well, as we all know, we’ve been here before.
Back in November 1995 Bill Clinton addres... read more
Odd that the mainstream media is not discussing the 4% spike in precious metals this morning as vociferously as they discussed the imminent demise of gold and silver yesterday. With stocks having given back all the Shutdown gains, gold and silver prices are surging higher retracing all yesterday's losses as Treasury yields fall and the USD weakens on EUR strength. It... read more
Despite the first US government shutdown in 17 years, gold prices came under heavy selling pressure on October 1, as gold for December delivery sank 3% reaching a lowest level since August 8.
How can this sell-off be interpreted?
As a matter of fact, we are seeing a lack of safe-haven demand in the short term as investors are expecting a limited government shutdown. That... read more
With regard to metals inventories, the eligible category includes any bullion of a suitable format that is held in one of the COMEX authorized warehouses, which are individually managed by one of the bullion banks.
The second category of metal is called registered, or dealer, bullion inventory. This is bullion of a suitable format that is held in one of the COMEX authorized warehouses, AND h... read more
February, April and June were Comex delivery months that saw the price of gold get hammered. August was a delivery month that saw the price of gold rally. October is a delivery month and gold is getting hammered again. What's the difference? Do you really want to know or does all of this make YOU want to go get hammered?
I think at this point it's safe to say that we're onto something. As do... read more
Fresh market statistics from Thomson Reuters GFMS research and exchange operator CME Group paint a remarkable portrait of Chinese demand for gold in 2013, even as the metal has seen historic price declines and volatility this year.
The dollar traded at almost the lowest since February as a partial shutdown of the U.S. government boosted speculation the Federal Reserve will persevere with asset purchases that tend to weaken the currency.
The euro touched its highest level against the greenback in almost eight months as political wrangling threatened to curb U.... read more
The standard wisdom on gold is that it does well in times of economic bad news such as in the 1970s, a period of stagflation and recessions, when the yellow metal rose from $35/oz to peak at $850/oz in 1980. But this time, Don Coxe, a portfolio adviser to the BMO Asset Management, believes things are different. In this interview with The Gold Report, Coxe explains why gold will... read more
Turmoil regarding a potential (and likely brief) government shutdownrelating to debt ceiling debates and the impact of the national health insurance mandate should not obscure the continued bad price action in the PM (precious metals) sector. Throu... read more
The silver demand in India has surged substantially, figures indicate. According to latest import data released by India Customs, the total imports of silver by the country during the first quarter of the current financial year amounted to $1.78 billion, 311% higher than the imports of $433.8 million during the corresponding quarter last year.
What made silver imports zoom
Trade... read more
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