Commodity Trade Mantra

Posts Tagged ‘Venezuela’

When There is Fear Everywhere, That’s When Gold and Silver Perform Best

Right now, this is a very scary time… People want to hop out of traditional assets and find safety in the oldest currency in the world – Gold and Silver. If and when things get worse, panicked and concerned citizens the world over will continue to shift capital into safe haven assets like gold and silver, which will be the only currencies left standing when it really hits the fan.

Venezuela Begins Liquidating Its Gold

Venezuela’s primary export is oil, that has been slammed in recent months on tumbling oil prices. Venezuela faces a cash crunch following maturity of a 1 billion euro bond this month & coupon payments of $700 million in April. Its central bank is in talks with Wall Street banks to create a gold swap in exchange for $1.5 billion cash.

Crude Crash Set To Continue After Arab Emirates Hint $40 Oil Coming Next

“We are not going to change our minds because the crude prices went to $60 or to $40,” Mazrouei said at a conference in Dubai. “We’re not targeting a price; the market will stabilize itself.” He said current conditions don’t justify an extraordinary OPEC meeting. “We need to wait for at least a quarter” to consider an urgent session, he said.

Will There Be Forced Official Sellers Of Gold?

Central bank gold buying in recent years has not helped the gold price one bit. A few nations may indeed be forced to sell some of their official gold reserves as a result of plunging oil prices. It seems however not likely at this juncture that Russia will be one of them. Moreover, the impact on the gold market should also be quite limited.

Central Bankers: Inflation is God’s Work

Inflation is always somebody else’s fault – A finger pointing by central bankers and politicians from decades ago. Remember – Inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy.

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