Commodity Trade Mantra

All posts under ‘Goldcore’

US Mint Sales of Gold Coins Fall In October After 234% Surge in Q3

In historical comparatives, demand for gold coins in October was 38th lowest by total weight and 56th lowest by coins counts for any month from January 2006 through present. October sales saw significant decline in demand for gold coins in 7 out of 10 years. In other words, October tends to be a more bearish month of U.S. Mint gold coins sales.

Premiums and Delivery Delays Rise on Silver Coins and Bars

Premiums on silver eagles have been creeping up & wholesale premiums have risen from 14% in May to over 25% this week. The shortage of silver coins is due to continuing robust demand and a lack of supply of silver bullion coins. Silver eagles remain probably one of the best proxies for silver coin demand & also of investment & store of wealth demand for silver.

Gold Market Sentiment Is Just Plain Ugly

Gold may well fall further in the near term and the powers that be may well keep the bus on the road for the near future, but if history teaches us anything is that you never bet against the wisdom of the crowd. Ultimately, these markets will be freed up and when they do gold will be bid up aggressively.

Perth Mint and US Mint Cannot Keep Up With Gold Bullion Demand Surge

Depressed prices have led to a surge in physical demand for silver and gold bullion globally, resulting in delays in receiving the bullion and indeed to rising premiums. Asian gold bullion demand picked up this week keeping premiums robust and slightly higher in the world’s top gold buying regions. There is also a huge demand for coins from individual buyers in the U.S. & Europe.

Russians Buy More 25 Tonnes Of Gold Bullion Again In June

Russia puts great strategic importance on its gold bullion reserves. While its gold reserves may not be on a par with western nations it is worth noting that neither is Russia’s debt. In the event of a new global debt crisis and an international monetary crisis, Russia is less fragile than many debt-laden western economies.

Greeks Can’t Tap Cash, Gold, Silver In Bank Safety Deposit Boxes

Capital controls have been in place in Greece since the start of the month to protect the banks from mass withdrawals by nervous Greeks. Greeks who had prepared for bank runs by withdrawing cash and buying gold and silver bullion and then lodging that bullion and indeed cash into safety deposit boxes have also been caught up in the draconian capital controls.

Not Owning Gold Bullion Shows “Ignorance of Monetary History”

Gold’s position is assured because of the total reliance of our debt-based monetary system on unsustainable inflation. The yearly, “In Gold We Trust” report states that “we have all become guinea pigs of an unprecedented attempt at re-inflation.” QE and negative interest rates “are a direct consequence of a systemic addiction to inflation.”

Hold “Physical Cash, Gold and Silver” To Protect Against Systemic Risk – Fidelity

Ian Spreadbury, who oversees the investment of over £4 billion of clients’ money in bond markets for Fidelity, said, “Systemic risk is in the system and as an investor you have to be aware of that.” To deal with these risks Spreadbury advocates a well-diversified portfolio. Cash should be spread out in different banks & that investors hold gold and silver.

Bail-Ins Coming – EU Gives 11 Countries 2 Months To Adopt Rules

This bail-in legislation which is being driven by the BIS through the Bank of England, ECB, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) appears designed to protect banks by allowing them to confiscate deposits to prop them up rather than the noble stated objective – “to shield taxpayers”.

Goldman Sachs Warns “Too Much Debt” Threatens World Economy

Andrew Wilson, Goldman Sachs Asset Management’s chief executive in Europe said, “There is too much debt and this represents a risk to economies. Consequently, there is a clear need to generate growth to work that debt off but, as demographics change, new ways of thinking at a policy level are required to do this.”

It’s Time to Hold More Cash and Buy Gold

Bank of America highlights problems with raising rates. The real economy in the U.S. is not currently strong enough to withstand a rise in interest rates. That raising rates could cause a shock to the markets & economy. To deal with this they advocate adding gold to one’s portfolio along with higher levels of cash.

Global Debt Now $200 Trillion!

Global debt is now in the region of $200 trillion. Unless and until the debt based system is replaced there can only ever be an increasing debt load and an urgency for economic growth with the consequent degradation of our environment and a debt enslaved humanity.

Silver Bullion Buying Outstripping Supply As JPMorgan Buys

Fundamentals for owning silver are as strong as ever. It has been subject to the same ongoing price suppression that has beleaguered gold in recent years which has scared many safe-haven investors out of the market. Silver will grow dramatically in importance as the world searches for new sources of renewable energy.

China One Step Closer to Becoming World’s Gold Hub

China, the world’s largest gold producer & buyer, feels its market weight should entitle it to be a price setter for gold bullion. The benchmark London ‘gold fix’, is under scrutiny because of long-running allegations of price manipulation. The New Chinese gold price benchmark may be launched before the end of the year.

Is JP Morgan Cornering The Silver Bullion Market?

Silver market analyst Ted Butler estimates that JP Morgan may currently hold far more than their official figure of 55 million ounces. He believes it to be closer to 350 million ounces. Annual global silver production is 820 million ounces. If Butler is correct, JP Morgan in a position to corner the physical silver market today.

China’s Stealth Gold Reserves To Quadruple as IMF Seek Answers

Bloomberg speculates that PBOC may have increased its gold reserves 3 fold since 2009 to over 3,000 tonnes. China would therefore have the 3rd largest gold reserves in the world, second only to U.S. & Germany. China’s ambition to make the yuan a dominant, if not the dominant reserve currency is now beyond dispute.

follow us

markets snapshot

Market Quotes are powered by India

live commodity prices

Commodities are powered by India

our latest tweets

follow us on facebook