International Business Times

A Dead Cat Bounce for Gold Prices

rogerbaettig — Tue, 21 May 2013 11:44:21 GMT

Four Things Einhorn, Soros Are Forgetting About Gold Miners ETF

rogerbaettig — Fri, 17 May 2013 11:52:21 GMT

Highlighting fourth-quarter 13F filings with the Securities and Exchange Commission, it was noted hedge fund legends David Einhorn and George Soros held sizable stakes in the largest gold miners ETF, the Market Vectors Gold Miners ETF (NYSE: GDX [FREE Stock Trend Analysis]).

Gold Demand Remains Strong As Buying Records Continue To Tumble

rogerbaettig — Thu, 16 May 2013 12:06:33 GMT

Today’s AM fix was USD 1,377.00, EUR 1,070.01 and GBP 904.32 per ounce. Yesterday’s AM fix was USD 1,412.25, EUR 1,094.51 and GBP 926.67 per ounce.

A Modern Day Gold Rush - How People Of One County In China Are Making Millions In Ghana

s.song — Wed, 15 May 2013 17:13:11 GMT

A modern day gold rush is taking place in Ghana, and fortune seekers from one particular Chinese county are making millions, according to 21cbh.

Shanglin County is located in China’s Guangxi Province and most of the county's population, much like the rest of the province, is ethnically Zhuang, the largest minority in China.

Gold Prices Continue to Fall

rogerbaettig — Wed, 15 May 2013 16:24:40 GMT

Gold is still in trouble as it continues to fall. This morning gold prices are down $12.61 to $1,413.60 an ounce sparking investors to worry that the downward trend will continue.

This hasn’t been gold’s month or really even its year. Just one month ago prices of gold tumbled to under $1,400 an ounce, a two-year low that sent analysts, investors, and miners scrambling to fix this problem, if it was even fixable.

South Africa Imports $1 Billion of Unwrought Gold to Meet Global Demand

rogerbaettig — Wed, 15 May 2013 12:47:35 GMT

Today’s AM fix was USD 1,412.25, EUR 1,094.51 and GBP 926.67 per ounce. Yesterday’s AM fix was USD 1,436.50, EUR 1,103.47 and GBP 938.15 per ounce.

Gold Prices May Fall Even More But Chinese 'Grannies' Continue To Invest For Posterity's Sake

s.song — Tue, 14 May 2013 16:54:43 GMT

In China, middle-aged women or older affectionately known as "grannies" have been snapping up large volumes of gold amid a recent price plunge. Now, some experts are worried that these "Chinese grannies" could lose money if gold prices fall further -- even as the women say they plan to buy more.

European Union Likely to ‘Bail In’ Large Depositors

rogerbaettig — Tue, 14 May 2013 13:07:30 GMT

Today’s AM fix was USD 1,436.50, EUR 1,103.47 and GBP 938.15 per ounce. Yesterday’s AM fix was USD 1,429.75, EUR 1,102.52 and GBP 931.19 per ounce.

Gold Prices to Re-Test $1350/oz

rogerbaettig — Tue, 14 May 2013 12:25:10 GMT

By Bob Kirtley

When Will Gold Bull Resume?

rogerbaettig — Mon, 13 May 2013 19:34:58 GMT

by Jordan Roy-Byrne, CMT

Lear Capital: Wall Street Gold Speculators Caught with Shorts Down

rogerbaettig — Fri, 03 May 2013 13:00:48 GMT

On April 10, Goldman Sachs came out with a recommendation to short gold. On April 23, Goldman closed the recommendation. What kind of financial advice is good for just 9 business days? Truth be told, the recommendation contributed to a rapid decline in the gold price. A decline promptly met by record demand for physical gold. OOOPS!

The 'Granny Effect' - Chinese Retail Investors Have Bought 3 Tons Of Gold Since Goldman Sachs Advised Clients To Sell; That Recommendation Has Since Been Pulled

s.song — Thu, 02 May 2013 19:24:16 GMT

The next time Goldman Sachs' investment advisers decide to make recommendations to clients about what to do with gold, they may have to take into account China's "granny effect." Here's why.

Last month, Chinese consumers bought 300 tons of gold, one tenth the world's annual gold production, worth more than 100 billion yuan ($16.24 billion).

The reason for the big surge in demand, not just from China but also from other Asian nations, is the recent massive price drop for the metal.

Peter Schiff - THE GREAT GOLD REDEMPTION

rogerbaettig — Thu, 02 May 2013 14:10:30 GMT

The most puzzling part of the investment business is seeing how the vast and largely economically illiterate masses interpret any given piece of news. Take the recent gold selloff: many large players were motivated to sell by news that Cyprus will have to liquidate its gold stockpiles to pay off acute debt obligations. But just a moment's reflection shows this reaction to be knee-jerk.

The real story behind Cyprus' deal has much more profound ramifications - and they are positive for gold.

The Right Lens

China Gold Mania - Coins, Bars and Jewelry Sales Surge 108%

rogerbaettig — Thu, 02 May 2013 12:47:09 GMT

Today’s AM fix was USD 1,456.00, EUR 1,106.22 and GBP 935.07 per ounce. Yesterday’s AM fix was USD 1,469.50, EUR 1,113.60 and GBP 942.95 per ounce.

Gold Mine Collapse: More Than 60 Miners Feared Dead After Gold Mine Collapse In Sudan's Darfur Region

Cvand003 — Thu, 02 May 2013 12:14:25 GMT

More than 60 people are dead after the collapse of a gold mine in Sudan's Darfur region, a local official with knowledge of the situation said Thursday.

"The number of people who died is more than 60," Haroun al-Hassan, the local commissioner in Jebel Amir, North Darfur, told reporters.

“They Don’t Want Certificates, They Want the Real Product” - CME President on Gold

rogerbaettig — Wed, 01 May 2013 14:11:18 GMT

Today’s AM fix was USD 1,469.50, EUR 1,113.60 and GBP 942.95 per ounce. Yesterday’s AM fix was USD 1,472.75, EUR 1,126.13 and GBP 950.04 per ounce.

Gold Price Stagnant- $1,466.10/oz

rogerbaettig — Wed, 01 May 2013 14:03:58 GMT

The price of gold was stagnant this morning, dropping $6 to $1,466.10 an ounce. Many analysts believe this is solely due to a two-day policy-making committee that is set to end this afternoon. Once data on the meeting has been released, analysts will be able to tell if and how it affects gold.

Gold Stocks to Rebound in May

rogerbaettig — Wed, 01 May 2013 13:08:00 GMT

Sell in May and don’t go away. Sell and buy gold stocks.

We all know gold stocks have been a disaster for weeks and months. The HUI gold bugs index kept falling below support levels until finding support near 260 which we consider to be very strong support and probably the major low. In the nine trading days since the bottom the gold stocks have recovered only slightly and gradually. However, after Tuesday’s reversal, we see plenty of evidence that augurs for a strong recovery in May.

Obama: Chemical Weapons Were Used In Syria But We Can't Prove Who Used Them

l.matthews — Tue, 30 Apr 2013 15:30:13 GMT

President Barack Obama on Tuesday said there isn’t enough evidence to prove that the Syrian government has used chemical weapons on its people. Should the United States and its allies find the proof, Obama said the use of such weapons would be a “game changer” and that there is a range of options at his disposal. The president added that the use of chemical weapons in Syria would threaten the security of America and the international community.

Perth Mint Demand Highest Since Lehman Brothers - Refines Coins, Bars At Weekend

rogerbaettig — Tue, 30 Apr 2013 13:09:04 GMT

Today’s AM fix was USD 1,472.75, EUR 1,126.13 and GBP 950.04 per ounce. Yesterday’s AM fix was USD 1,472.50, EUR 1,125.51 and GBP 947.80 per ounce.

To Buy Gold or Not?

rogerbaettig — Tue, 30 Apr 2013 13:01:52 GMT

Should you buy gold or not? That’s the question and everyone seems to have an answer. Unfortunately they’re never the same. Some analysts fear the low prices of Gold that we’ve seen in the past month will surely signal another recession. Others say that it was just a fluke and justify it by the fact that the price of gold is improving. Slowly yes, but still improving.

Trends in Asset Classes set to Shift

rogerbaettig — Fri, 26 Apr 2013 19:11:06 GMT

Mints, Refineries, Brokerages Out Of Stock - COMEX Gold Inventories Plummet

rogerbaettig — Fri, 26 Apr 2013 13:50:01 GMT

Today’s AM fix was USD 1,462.25, EUR 1,123.43 and GBP 947.79 per ounce. Yesterday’s AM fix was USD 1,446.50, EUR 1,107.07 and GBP 937.64 per ounce.

Gold Steadily Rising,Trading $1,465/Oz

rogerbaettig — Fri, 26 Apr 2013 13:41:15 GMT

Comex gold futures are still steadily rising as they were up again today to $1,465.40 an ounce. This is coming off the heels of a two-year low in which gold reached less than $1,400 an ounce sparking debate on whether or not the gold market is as strong as originally thought.

Short Interest Rises in Gold Mining Stocks

rogerbaettig — Thu, 25 Apr 2013 20:20:08 GMT

Probably not much of a surprise, but Barrick Gold (NYSE: ABX [FREE Stock Trend Analysis]), GoldCorp (NYSE: GG) and Harmony Gold Mining (NYSE: HMY) saw big upswings in short interest between the March 28 and April 15 settlement dates.