Tag Archives: Precious Metals

Gold Is Back in Fashion After a $15 Trillion Global Selloff

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“The $15 trillion rout in global equity markets since May is reawakening the lure of gold for investors seeking safety.  Hedge funds more than doubled their net-long position in bullion last week, just three weeks after they were the most-bearish ever. Investor holdings of gold through exchange-traded products are expanding at the fastest pace in a year, and the value of the ETPs has jumped by $3 billion in 2016.  Fed Bank of Boston President Eric Rosengren said this month that the central bank’s projected path for more policy tightening is at risk, citing falling estimates for U.S. economic growth. Gold reached a five-year low in December as the dollar strengthened and U.S. inflation stayed stagnant.”

http://www.bloomberg.com/news/articles/2016-01-24/gold-is-back-in-fashion-after-15-trillion-global-equity-decline

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Hillary Emails Reveal Propaganda, Executions, Coveting Libyan Oil and Gold

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“Historians of the 2011 NATO war in Libya will be sure to notice a few of the truly explosive confirmations contained in the new emails: admissions of rebel war crimes, special ops trainers inside Libya from nearly the start of protests, Al Qaeda embedded in the U.S. backed opposition, Western nations jockeying for access to Libyan oil, the nefarious origins of the absurd Viagra mass rape claim, and concern over Gaddafi’s gold and silver reserves threatening European currency.”

http://levantreport.com/2016/01/04/new-hillary-emails-reveal-propaganda-executions-coveting-libyan-oil-and-gold/

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It’s All Gone Wrong for One of World’s Biggest Mining Companies

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“Anglo American Plc, a conglomerate spanning everything from brewing, publishing and gold mining during its peak in the early 1990s, will shrink beyond recognition after Chief Executive Officer Mark Cutifani on Tuesday announced a package of asset sales, mine closures and job cuts.  Like banks before the financial crisis or energy companies before the collapse of oil prices, Anglo American is the classic tale of over-extending during the good times only to be left with too much debt and too little money when markets take a dive.”

http://www.bloomberg.com/news/articles/2015-12-09/it-s-all-gone-wrong-for-one-of-world-s-biggest-mining-companies

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The Gold Revolution

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“What about swarms of giant driverless mining trucks, hauling off 300 tons of ore across a busy working mine? Semi-robotic drilling rigs chewing away deep underground?  That’s not the future. It’s today in a handful of big working mines. And unlike Amazon’s PR-based stunts, these developments are starting to have a big (though unappreciated) impact on mining company bottom lines.  As Mining Weekly noted last week, 30% of South Africa’s platinum mining now comes from highly automated, mechanized operations.  In the iron-ore sector, Rio Tinto is now the world’s largest owner of ‘autonomous haulage system trucks,’ which it now uses at two of its mines in Australia.”

http://thesovereigninvestor.com/gold/the-gold-revolution/

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4,000 silver coins found in Roman treasure trove in Swiss orchard

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“The coins’ excellent condition indicated that the owner systematically stashed them away shortly after they were made, the archaeologists said. For some reason that person had buried them shortly after 294 and never retrieved them. Some of the coins, made mainly of bronze but with a 5% silver content (an unusually high amount), were buried in small leather pouches.  The archaeologists said it was impossible to determine the original value of the money due to rampant inflation at the time, but said they would have been worth at least a year or two of wages. How much the coins were worth today was beside the point, Matter said.”

http://www.theguardian.com/world/2015/nov/19/roman-treasure-found-in-swiss-orchard-exceeds-4000-coins

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Stan Druckenmiller’s Massive Bet on Gold

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“Druckenmiller is one of the world’s most successful and respected traders. As a hedge fund manager from 1986 to 2010, he generated an incredible average annual return of 30%.  Druckenmiller was also George Soros’s right-hand man at Quantum, Soros’s famed hedge fund. Quantum’s now legendary 1992 trade shorting the British pound was Druckenmiller’s idea. It made Quantum about $1 billion. People say the trade ‘broke the Bank of England.’  Druckenmiller’s fund recently bought $300 million worth of SPDR Gold Trust (GLD), an ETF that tracks the price of gold. It’s a huge bet, even for a big-time trader like Druckenmiller. He put 20% of his fund’s money into this trade; it’s his largest position.”

http://www.caseyresearch.com/articles/this-pig-just-made-a-massive-bet-on-gold

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Power Metals CD launched with exposure to gold, silver, copper

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“EverBank announced the launch of the five-year MarketSafe Power Metals CD, which combines the market potential of gold, silver and copper. This U.S. dollar-denominated CD offers 100-percent principal protection, and the ability to earn up to a 45% capped upside payment at maturity if the metals increase in value across annual pricing dates.  EverBank created the FDIC-insured Power Metals CD for individuals interested in exposure to valuable metals, but concerned about the obvious risk. The CD launched June 11, 2015.  EverBank’s MarketSafe Power Metals has a minimum deposit of $1,500 and no monthly account fee. Returns are based on CD performance.”

http://www.marketwatch.com/story/everbank-launches-marketsafe-power-metalssm-cd-2015-06-12

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Hedge fund mogul Paulson: Gold is now ‘fairly valued’

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“Billionaire hedge fund manager John Paulson, one of the world’s most influential gold investors, said on Friday that the metal is now at an appropriate price level, following last week’s rout that dragged prices to five-year lows.  Paulson, in his first public comments since the recent price crash, said his firm, Paulson & Co. Inc., has retained a 10 million share stake, now worth about $1 billion, in SPDR Gold Trust, which tracks the price of gold.  More than $500 million of gold futures were dumped in last week’s sudden selloff. Paulson’s view on gold has been closely followed ever since he earned roughly $5 billion on a bet on the metal in 2010.”

http://www.reuters.com/article/2015/07/31/us-hedgefunds-paulson-gold-idUSKCN0Q52LL20150731

http://www.reuters.com/article/2015/07/31/us-hedgefunds-paulson-gold-idUSKCN0Q52LL20150731

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Ravaged by Oil’s Collapse, Venezuela Now Has a Big Gold Problem

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“The South American country, which is trying to stave off a bond default in the wake of oil’s swoon, had 68 percent of its international reserves in bullion as of August, according to the World Gold Council. That’s a big worry because the price of the precious metal has tumbled 15 percent from this year’s high in January as the global slump in commodities deepened.  The decline threatens to erode reserves the cash-strapped country relies on to pay its foreign debt.  Venezuela’s dollar-denominated bonds have lost 19.2 percent in the past three months, the most in emerging markets, as the collapse in oil exacerbates concern the nation will run out of money to pay debt.”

http://www.bloomberg.com/news/articles/2015-08-10/ravaged-by-oil-s-collapse-venezuela-now-has-a-big-gold-problem

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Central Banks and Our Dysfunctional Gold Markets

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“First, it remains unclear whether or not much of the gold that is being sold as shares and in certificates actually exists. Second, paper gold can theoretically be printed into infinity just like regular currency — although private-sector paper-gold sellers have considerably less leeway in this regard than central banks. Third, new electronic gold pricing — replacing, as of this past February, the traditional five-bank phone-call of the London Gold Fix in place since 1919 — has not necessarily proved a more trustworthy model. Fourth, there looms the specter of the central bank, particularly in the form of volume trading discounts that commodity exchanges offer them.”

https://mises.org/library/central-banks-and-our-dysfunctional-gold-markets

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