Home » May 30th, 2013 Entries posted on “May, 2013”

Indian government redoubles its effort to ‘manipulate’ gold demand lower

Regular readers will know that the government of biggest gold buyers on the planet, India, have been becoming increasingly hostile to their people buying gold and have been openly trying to ‘manipulate’ the price lower. First there was the tax increase for gold imports in March: MUMBAI — India, the world’s top gold consumer, Friday […]

May 30th, 2013 | Posted in Gold News | Read More »

Gold price trading back above $1400… but will it stick?

For the past three weeks the gold price has been battling to get back above $1400. On two separate occasion gold has managed to trade above $1400, but only briefly, before been taken lower again by the shorts. Today however gold has managed to get back above $1400 and remain there. Gold $ (2 hr): […]

May 30th, 2013 | Posted in Gold News | Read More »

CBI: Retail sales fall at steepest rate for 16 months in the UK

The schizophrenic nature of the UK economic data of late looks set to continue following the release of the CBI’s retail sales numbers for May. The headline from the release says it all really: Retail sales fall at their steepest rate for 16 months – CBI This is hardly the headline you would expect to […]

May 29th, 2013 | Posted in Analysis | Read More »

Repeat after us “there are NO spending cuts” as Osborne plans to INCREASE spending by 10% in three years

So the ‘faux’stere Chancellor Osborne has been doing the rounds today claiming that he’s reached ‘agreement’ on spending cuts for the year 2015/16: The chancellor said he had found 20% of the £11.5bn he wants to cut spending by in the year from April 2015. Sounds great right? The government is cutting spending just like […]

May 28th, 2013 | Posted in Analysis | Read More »

Hedge fund head: $5,000 gold price in 10 years will be just the start

It must be the week for the gold bugs to come out of the woodwork and reconfirm that the gold price is heading much higher despite the smash of the past few weeks. Earlier today we reported that a Soc Gen analyst has an ultimate target for gold of $10,000, and hot on his heels […]

May 28th, 2013 | Posted in Gold News | Read More »

Gold price just can’t break above $1400 as Societe Generale analyst sees gold at $10,000

The last four trading days has seen the gold price approach $1400, but before it can break through this level sellers come into the market and push the price back down again, today looks like being no different. Gold $ (2 hr): (click for sharper image)  We can see that from the low on the […]

May 28th, 2013 | Posted in Gold News | Read More »

Gold set to have its first up week in two weeks as demand is set to return to the paper market

At the start of the week we wrote about the action in the gold market and how it now looked like a tradable bottom was ‘in’ sitting at around the $1350 level. If gold can close out the week around its current level ($1390) it means that gold will have risen some 4% this week. […]

May 24th, 2013 | Posted in Gold News | Read More »

Gold price higher by 3% as stock markets tumble

Ben Bernanke, the head of the Federal Reserve bank in the US, proved yesterday just what a farce our ‘free’ markets have become. Bernanke was giving testimony about the state of the economy in front of Congress yesterday. Just before he started speaking his pre-released statement came out which was good enough to shoot gold […]

May 23rd, 2013 | Posted in Gold News | Read More »

Bank of England minutes – What they really mean

It’s ‘tradition’ (to coin a phrase by the head of the Fed) round these parts to cut through the BS contained within the monthly release of the BoE minutes and let you know what they really mean. Here’s the latest from the minutes of the meeting on 8th-9th May 2013: There had been a number […]

May 22nd, 2013 | Posted in Analysis | Read More »

UK retail sales decrease 1.3% month-on-month as the amount spent on food falls by the most on record thanks to rising prices

For some reason people hold up retails sales as the bell weather of the UK economy, as long as people are spending and consuming that must be ‘good’ because retail sales make up the bulk of economic activity, right? Nobody seems to care or mention the ‘how’ is this spending being funded, which for us […]

May 22nd, 2013 | Posted in Analysis | Read More »

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