The case for gold as the ultimate wealth preservation investment is irrefutable
Published Dec 7, 2012 on Goldbroker
Gold is the only real and the only honest money. Gold reflects governments’ deceitful actions in destroying the value of paper money. For the last 100 years since the creation of the Fed and especially since 1971 when the US dollar was no longer backed by gold, paper currencies have been on a road to destruction. They have lost 97-99% since 1913 and around 80% since 1999.
The case for gold as the ultimate wealth preservation investment is irrefutable. Whilst paper money and all assets that were financed by the credit bubble will collapse in real terms, gold will continue to represent stable purchasing power as it has done during 5,000 years.Read article
Hinde's Davies, Citigroup's Fitzpatrick say gold's decline is over
Published Dec 7, 2012 on Gata
Hinde Capital CEO Ben Davies tells King World News that gold is likely to be supported by demand in China that is rising faster than mine supply and that low volatility in the gold price indicates higher prices next year. He thinks gold's recent decline is over.Read article
Why did Central Banks Stop Selling Gold?
Published Dec 6, 2012 on Marketoracle
In 2009 the signatories of the Central Bank gold Agreement effectively stopped selling gold. This was just after signing the third Central Bank Gold Agreement which lasts until September 26th 2014. Why?Read article
Downside manipulation in gold gets noticed in Dubai
Published Dec 6, 2012 on Gata
Spot gold prices tumbled to a near 30-day low of $1,687 a troy ounce Thursday morning, down $63 per ounce from last week's high of $1,750 per ounce as rumours of a mystery seller unwinding a major hedged position gained currency.
"We're actually seeing a fairly mysterious seller in the Asian time zone over the last week on two occasions," said Jeff Rhodes, CEO of the Dubai-based INTL Commodities.
According to Rhodes, the "mystery seller" times his deals in the "twilight period," or after the London market closes and just before the Asian markets really get going, when the trading is thin. "We've seen some fairly large sell orders hit the market in this twilight zone," he told the Dubai Eye 103.8 radio station.Read article
Gold, silver bullion manipulation now obvious
Published Dec 5, 2012 on Washingtontimes
We’re apparently in the midst of another bear raid—the second in as many weeks, and our suspicion is growing that this market is being very heavily manipulated by forces that we can’t play against with any degree of success. Is Auric Goldfinger still alive?Read article
Goldman Sachs Call Ridiculous, Gold Ready To Rocket
Published Dec 5, 2012 on Kingworldnews
On the heels of Goldman Sachs calling for the end of the gold bull market, today King World News went to 54-year market veteran and analyst Ron Rosen to get his take on the situation. Rosen sent over six tremendous charts in response to the Goldman call, along with some great words of wisdom.
“In spite of all of the negative press gold is receiving today on CNBC because of Goldman Sachs’ call for the end of the gold bull market, everything is right on schedule. The timing of this ridiculous proclamation by Goldman Sachs could not have come at a more perfect time.
My projections are for a massive move to the upside in gold for 2013 and 2014. The Goldman Sachs call will be an interesting footnote after the explosion takes place. What the analyst is saying is contrary to all natural movements through time. If you look at the patterns in the charts below you will know where gold is headed.”Read article
South Korea central bank bought 14 tonnes of gold in Nov
Published Dec 7, 2012 on Reuters
South Korea's central bank said on Wednesday it bought 14 tonnes of gold in November using its foreign reserves in order to spread its portfolio risks, while releasing data showing total reserves rose after talk of market intervention.
"Gold is a physical, safe asset and allows (the country) to deal with changes in the international financial environment more effectively," it said in a statement, without providing more details on the purchase.Read article