Rabobank Defaulting on Gold by Halting Delivery of Bullion
Published Jul 19, 2013 on Goldbroker
Rabobank has just followed in the footsteps of ABN Amro which effectively defaulted by halting deliveries of gold bullion in April, as the Dutch bank will close customers' gold accounts effective September 1st! With the GOFO now negative for a record 8th consecutive day, it appears the wave of bullion bank defaults warned of by William Kay may be just getting started.
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There Is an Ongoing Clash Between the Forces of Paper Supply and Physical Demand
Published Jul 24, 2013 on Goldbroker
There is an ongoing clash between the forces of paper supply and physical demand – paper supply has won the latest round, but its objective of satisfying and slaking demand for the real metal has failed entirely.
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The Bizarre Price Action in Gold Has Run Counter to Most Logical Assumptions
Published Jul 24, 2013 on Goldbroker
The gold price has been falling heavily for several months, but when the need to own gold jumps again — and it will; this is a long way from over — all the pieces of this jigsaw puzzle of the weird and wonderful forest of gold manipulation that we have dropped onto the table will slot neatly into place.
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Libor, Euribor, ISDAfix, Energy Prices, Gold Spot Prices... What If All Prices Were Manipulated ?
Published Jul 25, 2013 on Goldbroker
We are now familiar with the Libor manipulation scandal, which extends into other related rates, like Euribor. More recently, we’ve seen the ISDAfix, the reference rate for rates derivatives, make the headlines for the same reasons : large banks getting together to manipulate it. Not too long ago, we learned that JP Morgan and Barclays were accused of manipulating energy prices. The price of gold has been falling for a few months, due to « paper » gold selling, while physical gold buying is on the rise... isn’t this a bit weird? Is there an end to this list?
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Gold Backwardation: When Good People Make Bad Comparisons
Published Jul 25, 2013 on Jessescrossroadscafe
You may have heard some talk lately of 'gold backwardation.' Backwardation is a pricing phenomenon in the futures markets where the price of an asset now is higher relative to the price of that same asset in the future. The usual state of most assets is one ofcontango, where the price increases in the future.
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What Drives Negative GOFO and Temporary Gold Backwardation?
Published Jul 25, 2013 on Zerohedge
Water flows down-hill, from higher elevation to lower. Analogously, gold flows up-price, from lower price to higher. Right now the spare bars are going from New York and London to China. The result is temporary backwardation and a negative GOFO.
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BIG WITHDRAWALS OF GOLD & SILVER FROM THE COMEX
Published Jul 22, 2013 on Srsroccoreport
The depletion of Comex Gold Warehouse stocks continues with another big withdrawal today. Furthermore, this was met with a huge draw-down of silver stocks as well. In less than one month, a staggering 640,000 ounces of gold have been removed from the Comex.
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Why Detroit is good for gold: Ron Paul
Published Jul 23, 2013 on Cnbc
The Detroit bankruptcy has been called an American tragedy, and one of the most heart-wrenching financial stories of our time. But according to Ron Paul, America's biggest-ever municipal bankruptcy could actually give gold bulls something to cheer about.
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Kingworldnews
Published Jul 26, 2013 on Kingworldnews
With the paper price of gold pulling back, today billionaire Eric Sprott told KWN that the shortage of physical gold is now reaching extremes. Sprott also discussed the implications of this, as well as Western central planner desperation.
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Crude Oil & Silver Price - Interesting Parallels
Published Jul 24, 2013 on Goldsilverworlds
Both crude and silver took about 9.5 years to rally from a significant low to an important high. The high to low ratios were similar - over 13 and over 12. Both collapsed after their blow-off highs and fell 76% and 62% from their highs.
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SILVER: The King of Future Investment Gains
Published Jul 25, 2013 on Srsroccoreport
While owning precious metals will be a very wise store of wealth and investment in the future, silver will actually turn out to be the "King of Investment Gains." A good barometer of the retail gold and silver market is shown by the eagle sales at the U.S. Mint.
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