Gold News
This is the year that all the financial-gimmickry-chickens pulled by the fauxstere Chancellor come home to roost. Last year the public accounts of the UK were grossly flattered by some one-off accounting trickery. The biggest of which was the nationalisation (yes, the Tories really are the party of nationalisation NOT privatisation) of the Royal Mail [...]
The action in the gold market yesterday was nothing short of astonishing and it is the kind of action that suggest, for the time being at the very least, that the sell-off in gold is now done and a tradable bottom is now firmly in place. In yesterday’s overnight trading both gold and silver sold [...]
Global gold demand for the first quarter of 2013 declined both in terms of tonnage (-13%) and dollars (-16%). The volume decline was driven primarily by 177 tonnes of outflows from ETFs, versus inflows of 53 tonnes last year. If we remove this component from the mix, total global demand actually increased by 8% during [...]
This morning we mentioned that the World Gold Council released their Q1 gold demand numbers. You can read the full detailed report here (recommended). The first chart caught our eye because it confirms what many have been saying, namely that all the selling in gold has been of ‘paper’ gold. (click for sharper image) In [...]
After the recent drop in gold and the rise in the FTSE (reaching its highest level in in 12 years no less) with thought it would be worth while to look again at this ratio and see where we stand. First off some historic perspective. The chart below looks at more than 75 year’s worth [...]
Last week we warned that if the 200 week moving average didn’t hold then it would be a quick trip down to the $1380 area: Currently the 200 week moving average is sitting at $1443 which is exactly where gold sold-off to today. We’ll have to wait and see to see if this level will [...]
Today we got the Bank of England’s Quarterly Inflation Report where the BoE ‘forecasts’ what it expects to happen with CPI inflation in the UK over the coming months and years. We put ‘forecast’ in inverted commas because as we showed here the BoE’s forecasting skills aren’t exactly what you’d expect from a premier central [...]
While the stance of monetary policy around the world has, on any conceivable measure, been extreme, by which I mean unprecedentedly accommodative, the question of whether such a policy is indeed sensible and rationale has not been asked much of late. By rational I simply mean the following: Is this policy likely to deliver what [...]
After the ‘fudge’ before Christmas, the one where the Bank of England arranged to send interest payments received FROM the government back TO the government, delayed the need for more immediate money printing, todays ‘hold’ decision by the BoE should come as no surprise to regular readers. It is all becoming rather clear that the [...]
Yesterday we cited the 200 week moving average as a decent level of support for gold. And that has proven to be the case with gold bouncing perfectly off the 200WMA at $1443 and rallying back to $1470 where the rally has fizzled. Gold $ (weekly): (click for sharper image) The break-out level for gold [...]
