Home » June 28th, 2013 Entries posted on “June, 2013”

A comparison between the 1970s 46% gold correction and today’s

With gold looking to close out the month of June at three year lows, the end of the month can’t come soon enough for the bulls. Overnight gold reached a low of $1180, meaning that it is now some 38% off of the highs at $1920. Whilst we’ve had two similar corrections in gold in […]

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

Why you must own gold in one word: INSURANCE

It’s normally a pretty chilly day in hell when we find ourselves agreeing with TV sometime-economic-pundit Cramer, but in this case we’ll make an exception. Despite gold’s crushing so far this year Cramer lays out why people should own gold in the first place: “I still like gold coins, i think people should be in […]

June 28th, 2013 | Posted in Interviews | Read More »

UK price inflation running much higher for the poor according to the Joseph Rowntree foundation

The Joseph Rowntree Foundation are out today with a very interesting report on living standards in the UK, and it confirms something we’ve been saying for years, namely that the actions by the Bank of England are hitting the poorest in our society more than anyone else. From the JRF report: Overall prices rose by […]

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

Disconnect between ‘paper’ gold and ‘physical’ gold markets continues as premiums DOUBLE in India

With gold at multi-year lows you would be forgiven for thinking that demand for the precious metal has dried up around the world. But you would be wrong. As Reuters points out demand in India has outstripped supply in India: Gold premiums doubled in India on Wednesday as suppliers struggled to meet surging demand after […]

June 27th, 2013 | Posted in Gold News | Read More »

Y/oY UK GDP revised DOWN to 0.3% as Government statisticians erase ‘double-dip’ with the flick of a pen

Ahhh, good ‘ol government statistics – today we got the third and final reading for UK GDP in Q1 2013, and contained in the release is the news that the double-dip recession from last year was just a figment of our collective imaginations. From the government funded ONS report: GDP growth between Q4 2011 and […]

June 27th, 2013 | Posted in Analysis | Read More »

More pain for gold miners – this time job cuts

With the price of gold falling to the ‘all-in’ cost for gold mines to get the precious metal out of the ground yesterday, it’s hardly surprising that we’re starting to hear of lay-offs at some of the largest gold miners. We’ve all ready reported on gold mines being closed, followed by write-downs on acquired mines, […]

June 27th, 2013 | Posted in Mining | Read More »

Gold price ‘round-trips’ to flat for the day after huge drop in US GDP revision

Gold has just slammed higher erasing all the losses for the day so far. Gold $ (5 min): (click for sharper image) The reason? The US just released its final GDP revision for Q1, and it was a doozy. Instead of coming in at an expected unchanged 2.4% (from an already downward revised 2.5%), it […]

June 26th, 2013 | Posted in Gold News | Read More »

UK government plans on increasing spending in the UK by £25bn over the next two years and by 10% since 2012

You’ve probably seen a litany of headlines today all proclaiming that the UK Chancellor is ‘slashing spending’ in the next couple of years, and once again those headlines are completely misleading, it’s not for nothing that we’ve dubbed George Osbourne the Fauxstere Chancellor. Here are the facts about today’s Spending Review, all from the government’s […]

June 26th, 2013 | Posted in Analysis | Read More »

Gold price takes another tumble and reaches its 2012 all in cost of production

The selling in the gold market took another leg lower in overnight trading, with gold now down some 36% from its peak back in 2011. However, we’re now approaching a couple of very interesting level. Gold $ (monthly): (click for sharper image) The target for the gold sellers seems pretty clear. The up trend-line that […]

June 26th, 2013 | Posted in Gold News | Read More »

Gold mines… here come the write-downs

The past few weeks we’ve been reporting on a very interesting trend in the gold market, namely that gold mines are starting to shutter because with gold at 3 year lows they simply can’t get the precious metal out of the ground and make any money. Today we learn courtesy of Bloomberg that one of […]

June 24th, 2013 | Posted in Mining | Read More »

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