Mark O'Byrne

Mark O'Byrne

I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.

Articles by Mark O'Byrne

Is the US Election the “Cork in the Bottle” for Gold and Silver?

Gold Price Chart

Today we are taking our weekly look at the charts for gold and silver.

Republicans and Democrats continue to play the “will they, won’t they?” game over another stimulus package in a Covid19 ravaged US economy. An agreement on a package will ultimately be seen as positive for the markets but, with the US Election just weeks away this may prove to prolong negotiations or postpone decisions until the results of the election are clear and accepted by all.

Will Gold Now Retest $1,930?

As you can see from the gold chart below, gold has rallied on positive stimulus news and pulled back as negotiations stall.

After the previous “false break” above $1,910, gold once again closed above this level which opens up a retest of $1,930. However, the short-term upward trend line is

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Gold and Silver Set for a Breakout?

Gold Price Chart

Today we are taking our weekly look at the charts for gold and silver. Corvid 19, the US Election and US Financial Stimulus talks have given gold plenty to digest over the last week. On a short term basis gold has been taking a lot of signal from the fortunes of the stock markets and increased hopes of agreement of a financial stimulus package gave a boost to both stock markets and the gold price.

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Where Next for Gold & Silver

Silver Chart

Markets have struggled to find a clear direction as they attempt to digest US election news, debate performance, the impact of increased Covid-19 restrictions in many countries and vaccine news.

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Heavy Metal Selling

Gold Sell Off

Anxiety about an increase in Covid19 cases and fears of a second wave coupled with revelations of historic money laundering practices of major global banks weighed heavily on financial markets yesterday.

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Gold is Looking Strong as it Tests Resistance

Gold Tests Resistance

Since it’s sell-off from it’s early August high, gold has been stuck in an ever decreasing range. Having had a remarkable rally to an intra-day high of $2,078 on the 7th of August Gold has traded sideways and consolidated. This has been viewed by many market commentators as a healthy pause in gold’s bull rally as when markets go parabolic they tend to retrace just as fast.

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Value of gold stored by Irish metals broker GoldCore surges past €100m

Investment in gold has risen during pandemic. The value of gold coins and bars stored for clients by Irish precious metals broker GoldCore has surged 68pc so far this year to more than €100m.

The value of gold coins and bars stored for clients by Irish precious metals broker GoldCore has surged 68pc so far this year to more than €100m.

Gold prices last week topped the $2,000-per-ounce level for the first time as investors seek havens from the pandemic.

“We are seeing demand on a scale which has not been seen since the early stages of the global financial crisis in 2009 and we expect that to continue in the coming months,” said GoldCore CEO Stephen Flood.


Gold loses ground as dollar firms; investors eye U.S. stimulusSilver rallies over 6%; Gold ends higher as China-U.S. tensions seen escalatingWhy Is Everyone Buying Gold?Yields hold near historic lows on economic slowdown fears


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Gold Reaches $2,000/oz Prior to Two “Concerted Attacks” In Futures Market

Gold Price

The King Report“Anyone that’s been around the block a few times with gold knows that at some point ‘they’ will stage a concerted effort to drive gold lower.” December gold hit $2,000 at 21:19 ET Monday. It then retreated and traded sideways until 22:50 ET. Then someone slammed gold down to $1,955 in 20 minutes. This is obvious “impact trading.” Gold then traded sideways for over four hours.

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Silver Breaks Out!

Silver price rose to 21$

The price of an ounce of silver broke through the resistance level at $21 and continued to rise to $22.75, a level not seen since 2013! Over the last few weeks investors have been taking advantage of any pullback in the price of silver to add to their positions, which has continued to underpin this run higher.

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Gold Outperforms All Assets In 2020 YTD as Enters Seasonal Sweet Spot of July, August and September


◆ Gold is the top performing asset in the world in the first half of 2020, outperforming all stock markets including the S&P 500 and the Nasdaq and outperforming “safe haven” U.S. government bonds (see table above).Gold had an 18% gain in dollars in the first half of 2020 as risk assets, especially stock markets, fell sharply with the S&P down 4.5% and other stock markets down more than 10% (see table). Gold gained 18.6% in euros and by 25% in British pounds as the UK economy had the worst contraction since 1979 and the pound was further devalued.

The historical data in the last 20 to 40 years shows that seasonally gold and silver tend to do poorly in June and very well in the summer months in July and August and extending into September. Indeed late June

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A Dollar Crash Is Coming

◆The world is having serious doubts about the once widely accepted presumption of American exceptionalism. The era of the U.S. dollar’s “exorbitant privilege” as the world’s primary reserve currency is coming to an end. In the 1960s French Finance Minister Valery Giscard d’Estaing coined that phrase largely out of frustration, bemoaning a United States that drew freely on the rest of the world to support its overextended standard of living.

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Global Silver Investment Demand To Surge While Supply Weak (World Silver Survey 2020) 

20 Year Silver Price in USD/oz

◆ WORLD SILVER SURVEY 2020 from the SILVER INSTITUTE GLOBAL SILVER DEMAND EDGED HIGHER IN 2019, WITH INVESTMENT DEMAND UP 12%, WHILE SILVER MINE SUPPLY FELL FOR THE FOURTH CONSECUTIVE YEAR Global silver demand was pushed higher in 2019, with a 12 percent increase in investment demand as retail and institutional investors focused their attention on the long-term investment appeal of the white metal.

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Pandemic, Economic Shutdowns, Debt Crisis and Gold At $5,000/oz

Gold bull and bear markets, 1971-2020

◆ GoldCore are delighted to publish the 14th edition of the annual “In Gold We Trust” report, “The Dawning of a Golden Decade” by by our friends Ronald-Peter Stoeferle & Mark J. Valek of Incrementum AG.Gold prices should rise to over $5,000/oz and may rise as high as $9,000/oz in the coming decade and by 2030, according to the respected report.

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Is Your Pension ‘Good as Gold’?

With the current level of uncertainty in world markets we have received numerous requests for information on how self directed pension schemes (pre and post retirement) can hold gold and silver.It is accepted that if gold bullion is held via a gold certificates ( Perth Mint Certificates with GoldCore) or in Secure Storage in a variety of local or international locations with GoldCore, then it is not considered a ‘pride in possession’ article or ‘tangible moveable property’, and so fulfills Revenue investment requirements for small self-administered pension schemes.

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Gold Will Reach $3,000/oz: “Fed Can’t Print Gold” and Is “Ultimate Store Of Value” – Bank of America

Gold in USD – 3 Days

Gold in USD – 3 Days Gold prices are 0.7% higher today after falling just 0.3% yesterday as traders sought refuge in safe haven gold as oil prices collapsed lower again. Oil slumped to nearly $15 a barrel, its lowest since 1999 as the economic fallout from government lockdowns and the shutting down of entire economies impacts risk assets and commodities dependent on economic growth.

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Global Supply of Gold and Silver Coins and Bars Evaporated In Safe Haven Rush

Gold Price Performance: percent Annual Change

◆ GoldCore remain open for business unlike many dealers, mints and refineries (see News below) and we continue to buy bullion coins and bars and sell gold bars (1 kilo). The supply situation changes hour to hour. ◆ We, like the entire industry have experienced record demand in recent days and the global supply of gold and silver bullion coins (legal tender 1 oz) and gold bars (in 1 oz and 10 oz formats) has quickly evaporated. We continue to have gold bars (1 kilo) for now.

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Don’t Panic – Prepare

◆ Markets have collapsed around the world as we predicted as the ‘Giant Ponzi Everything Bubble’ meets the massive pin that is the coronavirus’ impact on already vulnerable indebted economies. ◆ Stocks have crashed and bond markets and banks may be next … “bank holidays”, bail-ins and currency resets are likely

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Gold Gains As Bank of England Slashes to Emergency Rate of 0.25percent and ECB Warns Of 2008 Style “Great Financial Crisis”

Spot Gold Price USD/oz

◆ Gold prices rose by 0.6% today as the Bank of England slashed rates in an emergency move to 0.25% and the ECB looks set to follow as it warned of a 2008 style crisis overnight. ◆ The Bank of England slashed its main interest rate to 0.25 percent this morning in a emergency move to combat the fallout from the coronavirus outbreak on the UK economy.

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Gold Surges 3 percent After U.S. Fed’s First Emergency Rate Cut Since 2008

Gold 2020 performance

◆ Gold surges 3% and has largest daily gain since June 2016 as the Fed delivers a surprise emergency rate cut, the first since 2008 ◆ Gold has gained over 10% in dollars and by more in other currencies so far in 2020 and along with U.S. Treasuries, it is a one of the best performing assets in 2020 as stock markets globally fall sharply (see 2020 Asset Performance table)

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Gold Coins Worth £80,000 Found In Retiree’s Drawers In Cottage: “It Was Mind-Blowing. I Felt Like a Pirate in a Grotto”

Gold coins including gold sovereigns found in drawers of deceased retiree’s cottage sell at auction for £80,000. ◆ British gold coins including gold sovereigns from the Royal Mint found in drawers and cupboards of cottage fetch £80,000; one British gold sovereign found in a sugar bowl. ◆ Auctioneer John Rolfe expected little before he entered damp, rat-infested property near Stroud.

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“Smart Move” By Prudent Investors Is To Diversify Into Gold

With no opportunity cost to holding a zero-yield asset such as gold, investors increasingly are adding it to their portfolios as a hedge. ◆ Gold retains its intrinsic value, something no paper currency has managed to do over history. ◆ Gold is insurance. Insurance isn’t supposed to make you rich; it’s supposed to keep you from being poor.

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Gold May Top $2,000 As “Prices Surge On Global Fear”

10 Year Gold Price in USD/oz, 2011-2020

Gold was one of the few investments heading higher Monday as worries about the coronavirus outbreak led to a steep market slide. Gold is now up more than 20% in the past year, and trading near $1,600 an ounce, its highest level since 2013. Other precious metals, such as silver and platinum, have rallied too. Meanwhile, the Dow was down nearly 350 points in midday trading.

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“All You Need To Do Is Own Gold and Silver” To Make Money In 2020

If you want to make money from investing, it’s simple: find a bull market and go long. And in 2020 gold and silver are in a bull market. by Dominic Frisby via the UK’s best-selling financial magazine Money Week
I ran into Jim Mellon at a party at the weekend, and we soon got talking about markets. One of his comments – stated with surety and simplicity – has stuck in my mind.

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Why Do Prudent Indians Diversify Into Gold?

All That Glitters, 2013-2019

◆ Indians diversify into gold coins, bars and jewellery because it never fails them in an emergency◆ Indians are simply very prudent and practical and believe in channeling some of their wealth and saving into physical gold ◆ “A woman’s gold is both her personal treasure and plays a functional role as the family’s financial buffer” – Richard Davies

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Gold’s New Bull Market and Why $7,000 Per Ounce Is “Logical” (Part I)

◆ Gold could rise to more than $7,000 an ounce according to respected MoneyWeek contributor and fund manager Charlie Morris (Part I today and Part II tomorrow). A year ago, in my occasional free newsletter, Atlas Pulse, I upgraded gold – which was trading at $1,239 an ounce at that point – to “bull market” status for the first time since 2012.

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Gold Surges To Test $1,600/oz, Oil Over $70, Stocks Fall on Risks of World War In Middle East

Hot Havens, 2013-2019

◆ Gold has surged to test $1,600 per ounce, up 4% so far in 2020 and building on the stellar near 18.9% gain in 2019 ◆ Gold is testing it’s highest levels since 2013 as investors diversify into gold; Goldman, Citi and other gold analysts are advocating gold bullion as important hedge in crisis ◆ Oil prices have surged with Brent crude reaching $70 per barrel; concern over oil supplies from Iran, Iraq and other nations as U.S. State Department warns of attacks on Saudi oil facilities

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Outlook 2020 | Buy Gold and Silver To Hedge Massive Risks including U.S. ‘Insolvency’

Buy gold and silver to hedge risks in 2020. IG interview Mark O’Byrne of GoldCore
With late cycle risks and concerns about global growth, many Wall Street analysts are increasingly bullish on gold. Mark O’Byrne, founder at GoldCore spoke to IGTV’s Victoria Scholar about the outlook for gold in 2020.He explained why most analysts including GoldCore are optimistic on both gold and silver.

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Gold Coins Worth Thousands Generously Donated To Salvation Army

◆ Gold coins worth thousands generously gifted to the charity again this year ◆ It just means so much … because it means that they went out of their way to do something extra special…” ◆ Salvation Army gold donors keep giving gold coins including Gold Krugerrands anonymously every year◆ At least three gold coins worth some $4,500 have again been generously gifted to charity this year (that we know of)

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The Most Important UK Election of the Century So Far

There’s only one story in the UK this morning – it’s the day Britain goes to the polls. It’s no exaggeration to say that this election is probably the most important of the century so far. If the ruling Conservative party wins a clear majority, then some form of Brexit is almost certain to go ahead.

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Largest Gold Nugget in Britain Found in River in Scotland – “Experts” Concerned About a Scottish Gold Rush

The largest gold nugget in Britain has been found in a Scottish river, as experts reveal that members of the public are taking up hunting after watching YouTube clips. The diver, who wishes to remain anonymous, discovered the £80,000 “doughnut-shaped” nugget using a method called “sniping”, in which a prospector uses a snorkel and hand tools to scan the riverbed for treasures.

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$255 Trillion Global Debt Bubble May Burst In 2020 – Prepare Now

Global Debt on track to surpass $255 Trillion in 2019

◆ Global debt has risen to another record at $255 trillion due to cheap borrowing costs. ◆ A decade of easy money has left the world with a record $250 trillion of government, corporate and household debt. ◆ This is almost three times global economic output and equates to about $32,500 for every man, woman and child on earth.

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Eastern European Nations Buy and Repatriate Gold Due To Growing Risks To Euro and Dollar

◆ Prudent leaders in Eastern European countries are repatriating their national gold reserves and diversifying into gold due to geopolitical risks and monetary risks posed to the dollar, euro and pound◆ Slovakia has joined China, Russia and a host of countries buying gold or seeking to repatriate their gold from the Bank of England and the New York Federal Reserve◆ “Brexit and the risk of a global economic crisis put Slovak gold stored in Britain in a dangerous situation …”

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Global Gold Buyers Are ‘Confident’ in Gold

‘Retail Gold Insights 2019’ has just been published by the World Gold Council. It is a thematic analysis of their new consumer research survey. With a base of 18,000 participants across India, China, Russia, Germany, the US and Canada, we believe it is the largest ever consumer survey on the global gold market.

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Gold ETF and Central Bank Gold Buying Supports Gold Demand In Q3

Gold-backed ETF Holdings hit a new record

Gold demand grew modestly to 1,107.9 tonnes (t) in Q3 thanks to the largest ETF inflows since Q1 2016. A surge in ETF inflows (258t) outweighed weakness elsewhere in the market to nudge gold demand 3% higher in Q3. Global central bank buying remained healthy but significantly lower than the record levels of Q3 2018.

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Time To Replace Bonds With Gold

◆ “It may be time to replace bonds with gold”according to the just released excellent new Investment Update by the World Gold Council.◆ Central banks have shifted to a new regime of easy monetary policy, thus reducing expected bond returns.

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JPMorgan Warns U.S. Money Market Stress to ‘Get Much Worse’

Spot Gold Price

◆ Severe funding pressures in U.S. money markets tipped to resurface heading into year-end by JPMorgan who warn that financial stresses are likely to ‘get much worse’ ◆ Goldman Sachs and Bank of America also warn funding issues remain (see below) ◆ Federal Reserve will start buying $60 billion of Treasury bills every month ◆ Funding markets are on notice for a possible year-end liquidity crunch

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Germany Increase Gold Reserves In September For The First Time In 21 Years – IMF

Germany Gold Reserves

◆ The gold reserves of the German Bundesbank rose in September for the first time in 21 years; German gold reserves rose to 108.34 million ounces in September from 108.25 million ounces last month◆ It was the Germany’s first gold purchase since 1998 and while the amounts are not huge at 90,000 troy ounces, it highlights the Bundesbank and German concerns about the global monetary system and euro itself as Christine Lagarde takes over the ECB

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IMF Warning: ‘World’s Financial System Is More Stretched, Unstable and Dangerous Than It Was On the Eve of the Lehman Crisis’

The International Monetary Fund (IMF) has again warned that the world’s financial system is more stretched, unstable and dangerous than it was on the eve of the Lehman crisis. Quantitative easing, zero percent interest rates and massive financial repression has pushed investors – and in the case of pension funds or life insurers, actually forced them – into taking on ever more risk.

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Dutch Central Bank: Gold Bars ‘Always Retain Their Value, Crisis Or No Crisis’

DNB's gold stock

◆ “Gold is the perfect piggy bank – it’s the anchor of trust for the financial system” says the Central Bank of the Netherlands ◆ “If the system collapses, the gold stock can serve as a basis to build it up again” astutely and prudently observes the Dutch Central Bank ◆ The Dutch people “hold more than 600 tonnes of gold. A bar of gold always retains its value, crisis or no crisis”

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Gold ETFs See Holdings Reach All Time Record Highs In September

Gold-backed ETFs holdings, 2004-2018

◆ Global gold ETF holdings reach all time record highs, increasing by 13.4% so far in 2019 on hedging and safe haven demand. ◆ Global gold ETFs, ETCs and similar products had US$3.9bn of net inflows across all regions, increasing their collective gold holdings by 75.2 tonnes(t) to 2,808t, the highest levels of all time in September.

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China’s Central Bank Buys 100 Tons Of Gold As Trade and Dollar Tensions With U.S. Escalate

Spot Gold Price USD

◆ China has added more than 100 tons of gold bullion bars to its gold reserves since it resumed buying in December; China’s gold holdings rose to 62.64m ounces in September, an increase of 190,000 ounces in one month. ◆ The People’s Bank of China (PBOC) increased it’s gold reserves for a 10th straight month in September, reinforcing its standing as one of the major official accumulators as many creditor nation central banks stock up on the precious metal

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Chinese Buy Gold In Large Volume In Holiday Week as Gold Jewelry Sales ‘Soar’

Spot Gold Price USD

Gold is marginally lower today at $1,503/oz and stocks are mixed ahead of what are set to be tense U.S. and China trade negotiations. Gold sales are expected to accelerate through the end of the year due to weakening global economic conditions, according to Mike McGlone, a Bloomberg Intelligence senior commodity strategist as quoted by China Daily (see below).

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Central Bank Gold Buying Is “Sustainable and Indeed May Accelerate”

Why central banks including China and Russia will keep buying gold due to concerns about the outlook for currencies, including the dollar and the euro, Mark O’Byrne, Research Director of GoldCore told Marketwatch. While the gold tonnage demand from central banks in recent months has been significant and near records, gold remains a tiny fraction of most central banks’ massive foreign-exchange reserves,” O’Byrne says, adding that the trend is “sustainable and indeed may accelerate”

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Gold To $3,000/oz By End Of 2020 As The Dollar Will Fall Sharply – Ron Paul

Silver Price, Three Days

Where Does Gold Go From Here? — Ron Paul’s “Cautious” Prediction. “Gold is an ‘insurance policy’ as the dollar will continue go down in value as it is printed” and it will end in a monetary “calamity”. “Gold is not money due to any man-made laws. Gold is money despite man-made laws, and is a product of the voluntary marketplace”.

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Gold Hits 10 Week High At $1,328/oz as Trade Wars Spur Safe Haven Demand

Gold in USD – 1 week (

Gold has consolidated on yesterday’s gains and is marginally higher as risk aversion creeps back into markets. Gold rose 1.5% yesterday to its highest level in more than three months. Concerns that trade wars look set to escalate globally and fears that President Trump’s threat of tariffs on Mexico will hurt the global economy are spurring safe haven demand.

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Gold Investment In Switzerland Remains Very Popular

Switzerland gold demand

Investors in Switzerland like gold and it is the second most popular investment after property or real estate20% plan to invest in gold in the next 12 monthsAlmost two-thirds buy or invest in precious metals at their bank; fewer than one-in-ten buy gold online

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World’s Central Banks Want More Gold – India May Buy 1.5M Ounces In 2019

Billion Hoard 2009-2018

Royal Bank of India (RBI) may buy another 1.5 million oz this year according to OCBCMany other central banks including large creditor nations Russia and China are also adding to gold holdings. India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide gold bullion demand as top economies diversify their reserves.

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Gold Gains On Recession Concerns and ‘No Deal’ Brexit Risks

Gold in GBP (1 Year), 2018-2019

– Gold gains due to concerns about slowing growth, monetary and geopolitical risks
– Increasing possibility of ‘No Deal’ Brexit heightens recession risks in UK, Ireland
– Brexit uncertainty is impacting UK & Irish economies; Likely do long term damage
– UK sees sharp slowdown in mortgage approvals in February as housing market slows
– Gold surges to near all time record highs in Australian dollars at $1,860/oz
– Gold in sterling, euros and dollars to follow Aussie dollar in coming months

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China Gold Reserves Rise To 60.26 Million Ounces Worth Just $79.5 Billion

Chinese Gold Reserves 2000-2019

China increased its gold reserves for a third straight month in February, data from the People’s Bank of China (PBOC) showed this morning.
The value of China’s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces.

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Buy Bitcoin or Gold? Bitcoin Buyers Investing In Gold In 2019

Buy Bitcoin or Gold

Buy bitcoin or gold? Bitcoin buyers are investing in gold in 2019. Poll of 4,000 bitcoin buyers shows their No 1 investment in 2019 is gold. “Gold lost to bitcoin and now it’s going the other way…” says ETF strategist.
“Gold is a store of value and there’s no disputing that…”

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Gold Consolidates Above $1,300 After 1.2 percent Gain Last Week

Gold Bar CS 50g

Gold futures settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices reflect “political uncertainty” in the U.S., Eurozone, Venezuela and pockets of South America, as well as China-U.S. trade talks, said George Gero, managing director in RBC.

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Political Turmoil in UK & US Sees Gold Hit 2 Week High

For first time in over 16 years, palladium futures settle at a premium to gold futures. Gold futures on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, settling at their highest in nearly two weeks on the back of political turmoil in the U.K. and U.S.

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China Adds 320,000 Ounces To Gold Reserves – First PBOC Purchase Since October 2016

China Year-End Purchase, Mar 2016 - Dec 2018

China increases gold holdings by large 320,000 ounces. Gold bullion remains a tiny component of the People’s Bank of China massive foreign exchange (FX) reserves which rose to $3.073 trillion. China’s gold reserves rose for first time since October 2016 to 59.56 million ounces by the end of December (1,853 metric tons) from 59.24 million ounces. Gold climbed 5% in December on equity rout, growth concerns

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Gold Analysts At LBMA See 25percent Return To $1,532/oz In 12 months

Gold in USD (10 Years)

The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s (LBMA) annual gathering predicted on Tuesday. A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium.

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Gold’s Best Day In 2 Years Sees 2.5 Percent Gain As Global Stocks Sell Off – This Week’s Golden Nuggets

Gold’s Best Day In 2 Years Sees 2.5 Percent Gain As Global Stocks Sell Off – This Week’s Golden Nuggets. News, Commentary, Charts and Videos You May Have Missed. Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week. Market jitters and volatility have returned this week and the sell-off in US government bonds led to sharp falls on Wall Street centered on the very overvalued tech sector and the NASDAQ.

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Silver Is ‘Undervalued’ Relative to Stocks, Bonds, Gold – GoldCore

Silver Price, Sep 2008 - 2018

– Silver is ‘undervalued’ relative to stocks, bonds and gold: GoldCore. – Silver at $14/oz is cheap relative to gold with gold-silver ratio over 85. – Silver drops to 32-month lows prompting sellout of Silver Eagle coins at U.S. Mint. – U.S. Mint said “recent increased demand” prompted a “temporary sell out” of its American Silver Eagle bullion coins as investors see silver coins as a bargain.

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London House Prices Fall At Fastest Rate Since Height Of Financial Crisis

London House Prices Bubble, 1995 - 2018

– London house prices fall at the fastest annual rate since height of the financial crisis
– London house prices fall in 5th month in row, worst falls since 2009
– London rents dropped at the fastest rate in eight years – ONS
– Brexit, London property slump put brake on UK house price growth
– Consumer spending declined in July as inflation increased

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Jim Rogers – Making China Great Again! (Video)

We are delighted to announce a very special guest for our next episode of the Goldnomics Podcast, due for release later this week. We recently had the opportunity to speak with the legendary investor and adventure capitalist Jim Rogers. Jim is an American businessman, investor, traveler, financial commentator and author. He is the Chairman of Rogers Holdings and Beeland Interests, Inc. He was the co-founder of the Quantum Fund and creator of the Rogers International Commodities Index.

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Jim Rogers and the World’s New Reserve Currency

Today we’re bringing you another clip from our upcoming Episode of the Goldnomics Podcast with the legendary investor and “Adventure Capitalist”, Jim Rogers. In this clip Jim tells us what he thinks about the long-term safe-haven status of the US dollar and what he sees as the future for the Euro currency.

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The Stock Market is Stretched to Double Tech-Bubble Extremes

Leuthold Group has sounded the alarm on a valuation metric that shows the S&P 500 is twice as expensive as it was at the peak of the tech bubble. This development could have large implications for stock investors of all types, particularly value traders who make their living by finding discounts in the market. With the stock market within shouting distance of an all-time high, traders are readying their Champagne bottles. Just don’t tell them about the eye-popping statistic just published by the reputed research outfit Leuthold Group , lest you spoil their fun.

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Gold—Even at its Lowest Levels in 2018—is Behaving Just as Prescribed

Gold’s sharp decline over the past month serves as little surprise to the investors who want the asset to perform in just this fashion—that is, as an alternative to assets perceived as risky, like stocks. They’re betting that the opposite will be true as well, that gold will resume its role as protector and diversifier, even inflation hedge, when what they see as bloated price-to-earnings ratios, heavy debt-to-GDP ratios among major economies and hints of higher inflation finally catch up to the stock market.

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Gold to Enter New Bull Market – Charles Nenner

Gold to Enter New Bull Market – Charles Nenner. “Gold is going to enter a new bull market”. “The first cycle will bottom after the summer”. “$1,212 per ounce is our downside target”. “It’s going to top $2,500 per ounce . . . in about two years or so”. “Gold is in a bull market even though it came down from $1,900 per ounce”

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Russia Sells 80 percent Of Its US Treasuries

Russia Sells 80% Of Its US Treasuries. Description: In just over 2 months Russia has sold-off over 85% of its holdings of U.S. Treasuries, should the U.S. be concerned? – Russia has liquidated 85% of its US Treasury holdings in just two months. – Russia dumps over $90 billion of Treasuries in April and May as holdings collapse from near $100 billion to just $9 billion.

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Russia Buys 600,000 oz Of Gold In May After Dumping Half Of US Treasuries In April

Russian Gold Reserves 2006-2018

Russia adds another 600,000 oz to it’s gold reserves in May. Holdings of U.S. government debt slashed in half to $48.7 billion in April. ‘Keeping money safe’ from U.S. and Trump – Danske Bank. Trump increasing the national debt by another 6% to $21.1 trillion in less than 18 months. Asian nations accumulating gold as shield against dollar devaluation and trade wars.

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“Without Gold I Would Have Starved To Death” – ECB Governor

– “Without gold I would have starved to death” – Ewald Nowotny, governor of Austrian central bank and member of ECB’s governing council
– “I was born in 1944. When I was a baby, my mother could only buy food because she still had some gold coins…”
– “When the going gets tough, gold becomes the ultimate money” reports Die Presse

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Get “Positioned In Gold” Now As “You Will Not Have Time To Get Positioned” Later

Development of US tax revenues and the S&P 500

Get “Positioned In Gold” Now As “You Will Not Have Time To Get Positioned” In Physical Later. Guest post by Dominic Frisby of Money Week. This year’s “gold standard” of gold-related research has just come out. Conveniently enough – given gold’s “safe haven” reputation – it’s arrived just in time for another major financial market scare, this time in the form of Italy. Below, I consider some of the most pertinent points…

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Gold And Silver Bullion Obsolete In The Crypto Age?

Gold in Euros, May 2018

What is the outlook for the global economy, financial markets, crypto currencies such as bitcoin and gold and silver bullion in the digital age? Fresh insights as interview Mark O’Byrne who gives his diagnosis on the outlook for gold in 2018, and looks at the long-term relevance of precious metals in the digital age of crypto and the blockchain alongside Bitcoin’s emergence as a potential digital store of value.

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Gold Back Above $1300 – Trump Cancels Historic Summit – Silver “Ready To Breakout”

– Trump Cancels Historic Summit with North Korea. – US 10-Year Falls Below 3%, Gold Jumps Back Above $1300. – “Inflation Overshoot Could Be Helpful” – Latest FOMC Minutes. – Gold Demand in Turkey as Lira falls sharply, true inflation near 40%. – EU Crisis Looming as Italy Plan Outright ‘Money Printing’ with ‘Mini-Bots’. – Silver Trading in Tight $1 range, Pressure Building for a Breakout.

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‘Nightmare Scenario’ For EU Bond Markets As Anti-Euro Italian Goverment Takes Power

Firebrand populists of Left and Right are poised to take power in Italy, forming the first “anti-system” government in a major West European state since the Second World War. Leaders of the radical Five Star Movement and the anti-euro Lega party have been meeting to put the finishing touches on a coalition of outsiders, the “nightmare scenario” feared by foreign investors and EU officials in equal measure.

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Gold Looks A Better Bet Than UK Property

Gold investment UK property

Dominic Frisby of Money Week looks at the historical relationship between UK house prices and gold (including some great charts), and concludes that your money is better off in the yellow metal than bricks and mortar.

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Gold Mining Supply Looks Set To Decline

Gold Nugget

Global demand for gold is increasing while new discoveries of gold remain small. Gold mining output in Australia is forecast to decrease by 50% in the next eight years. Decline in global gold mining supply makes a price increase almost certain.

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Russia Buys 300,000 Ounces Of Gold In March – Nears 2,000 Tons In Gold Reserves

World Official Gold Reserves, 2000 - 2018

Russia buys 300,000 ounces of gold in March and nears 2,000t in gold reserves. Russia now holds just over 1,861 tonnes, more than officially reported by China at 1,842t. Both Russia and China have the power to destabilise US dollar by dumping dollar-denominated assets. Turkey has removed all gold held in the U.S. opting for Bank of England and BIS. Turkey follows trend set by both Germany, Netherlands and others to remove gold reserves stored in the United States.

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New All Time Record Highs For Gold In 2019

Gold and Silver Index, 1984 - 2018

New all time record highs for gold in 2019. ‘Powerful bull market’ will likely send gold to $5,000 to $10,000. If USD & Treasuries keep falling, stocks may decline at ‘moment’s notice’. Traditional portfolio of stocks and bonds will not protect investors. “Gold will replace bonds as the go-to hedge”.

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Palladium Bullion Surges 17percent In 9 Days On Russian Supply Concerns

Month to Date Relative Performance

Palladium bullion has surged a massive 17% in just nine trading days. From $895/oz on Friday April 6th to over $1,052/oz today (April 19th). The price surge is due to palladium being due a bounce after falling in the first quarter and now due to Russian supply concerns. In a volatile month, precious metals and commodities have been the clear winners so far, with palladium having the greatest gains of all – up 10.7% in April (see table below).

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Global Debt Bubble Hits New All Time High – One Quadrillion Reasons To Buy Gold

Global Debt, 1999 - 2018

Global debt bubble hits new all time high – over $237 trillion. Global debt increased 10% or $21 tn in 2017 to nearly a quarter quadrillion USD. Increase in debt equivalent to United States’ ballooning national debt. Global debt up $50 trillion in decade & over 327% of global GDP. $750 trillion of bank derivatives means global debt over $1 quadrillion. Gold will be ‘store of value’ in coming economic contraction. Global debt is the mother of all bubbles.

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Volatile Week Sees Oil and Palladium Surge Over 8percent, Gold and Silver Marginally Higher and Stocks Gain

1 Week Relative Performance

Gold & silver eke out small gains; palladium surges 8% and platinum 2%. Oil (WTI) surges over 8% to over $66.90/bbl; supply disruption risk. U.S. dollar and Treasuries fall; geopolitical, trade war and fiscal concerns. Stocks rally and shrug off trade war, macro and geo-political risks. Bitcoin, major cryptos (Ethereum, Ripple etc) rise sharply. Russia-US tensions high: Trump warns attack ‘could be very soon or not so soon at all’.

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Gold Out Performs Stocks In 2018 and This Century By Ratio Of Two To One

Gold Price, 1999 - 2018

– Gold outperforming stocks in 2018 and this century (see chart)
– Gold up close to 2% in 2018 while S&P 500 is down 2%
– Trump trade wars and Kudlow as Trump chief economic advisor is gold bullish
– Given gold’s performance, Kudlow’s dismissal of gold as “end of the world insurance” is “irrational”
– Market volatility could drive gold to $1,500/oz in 2018 – Holmes

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Uncle Sam Issuing $300 Billion In New Debt This Week Alone

US National Debt

US needs to borrow almost $300 billion this week alone. This is the largest debt issuance since 2008 financial crisis. Trump threatens trade war with its biggest creditor – China. Bond auctions have seen weak demand due to large supply and trade war concerns. $20 trillion mark reached in early September 2017; $1 trillion added in just 6 months. US total national debt level now exceeds $21.05 trillion and is accelerating higher.

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Buy Silver And Sell Gold Now

Gold:Silver Ratio, 1720 - 2018

Buy silver and sell gold now – Frisby. Gold should cost 15 times as much as silver. Silver might have disappointed in short term – But it’s time to buy. Editor’s note: Silver has outperformed stocks, bonds and gold over long term (see table).

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Gold Cup At Cheltenham – Gold Is For Winners, Not For the Gamblers

Cheltenham Gold Cup

Gold Cup at Cheltenham – ‘The Olympics’ of the European horse racing calendar. Gold Cup trophy contains 10 troy ounces of gold – worth £9,000. £620 million bets on horses, 230,000 pints of Guinness will be drunk, 9.2 tonnes of potato eaten. Since the 5th century BC, gold has been the ultimate prize to award champions and gold has been constantly and universally awarded as top prize.

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Four Key Themes To Drive Gold Prices In 2018 – World Gold Council

Annual Gold Demand, 2017

Four key themes to drive gold prices in 2018 – World Gold Council annual review. Monetary policies, frothy asset prices, global growth and demand and increasing market access important in 2018. Weak US dollar in 2017 saw gold price up 13.5%, largest gain since 2010. “Strong gold price performance was a positive for investors and producers, and was symptomatic of a more profound shift in sentiment: a growing recognition of gold’s role as a wealth preservation and risk mitigation tool”.

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Gold Corridor From Dubai to China Sought By China

Joseph Chan Ho-lim, Cheung Tak-hay

Gold corridor from Dubai to China sought by Chinese Gold & Silver Exchange Society. New Asian gold trading corridor could boost demand for 1 kg gold bars. Should increase turnover for yuan-denominated gold coins and bars – President. Secure supplies of physical gold from Middle East and Asia for China. China positioning itself as leading gold trading and owning nation.

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Russian Central Bank Buys Gold – 600,000 Ounces Or 18.7 Tons In January As Venezuela Launches ‘Petro Gold’

Central Bank Gold Hoards

Russian central bank buys gold – large 600,000 ounces or 18.7 tons of gold in January. Russia increased its holdings to 1,857 tons, topping the People’s Bank of China’s ‘reported’ 1,843 tons. Russia surpasses China as 6th largest holder of gold reserves – after U.S., Germany, IMF, Italy and France. Turkish central bank added 205 tons “over 13 consecutive months” – Commerzbank

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Bitcoin or British Pound ‘Pretty Much Failed’ As Currency?

Gold Price in GBP, Aug 2008 - 2017

Bitcoin has ‘pretty much failed’ as a currency says Bank of England Carney. Bitcoin is neither a store of value nor a useful way to buy things – BOE’s Carney. Project fear against crypto-currencies or an out of control investing bubble? Bitcoin will likely recover in value but is speculative and not for widows and orphans. British pound has been a terrible store of value – unlike gold. Pound collapsed 30% in 2016 and down 11.5% per annum versus gold in last 15 years.

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Is The Gold Price Heading Higher? IG TV Interview GoldCore

Gold Price IG

Is The Gold Price Heading Higher? IG TV Interview GoldCore. Research Director at GoldCore, Mark O’Byrne talks to IG TV’s Victoria Scholar about the outlook for the gold price. In this interview, Mark O’Byrne, research director at Goldcore, says the fact that the gold price did not spike during last week’s equity sell-off was to be expected.

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Sovereign Wealth Funds Investing In Gold For “Long Term Returns” – PwC

Performance of Gold Compared to Bonds and Equity

Sovereign wealth funds investing in gold for long term returns – PwC. Gold has outperformed equities and bonds over the long term – PwC Research. Gold is up 6.7% and 6.8% per annum over 10 and 20 year periods; Stocks and bonds returned less than 5.2% respectively over same period (see PwC table). From 1971 to 2016 (45 years), “gold real returns were approximately 10% while inflation increased 4%”.

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Bitcoin and Crypto Prices Being Manipulated Like Precious Metals?

Bitcoin and Crypto Prices Being Manipulated Like Precious Metals? – FSN Interview GoldCore. Kerry Lutz of the Financial Survival Network (FSN) interviewed GoldCore’s Mark O’Byrne about the outlook for crypto currencies, financial markets and precious metals. Are bitcoin and crypto prices being manipulated like precious metals? Is there a coordinated backlash against bitcoin from JPM and powerful interests?

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Gold Rises As Global Stocks Plunge and Bitcoin Crashes 70 percent

Gold Spot and NYSE Composite, Nov 2017 - Jan 2018

Gold gains 0.6% in USD and surges 1.7% in euros and pounds. European stocks fall more than 3% at the open after sharp falls in Asia. DJIA falls 1,175 points, S&P 500 down 4.1% and Nikkei plummets 4.7%. Gold rises from $1,330 to $1,342, £942 to £960 and €1,067 to €1,085 /oz. Bitcoin crashes another 10% and has now plummeted by 70% to below $6,000. Increased risk aversion will drive safe haven demand for gold as its hedging properties are appreciated again.

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U.S. Debt Is “Extraordinarily High” and Are Stock And Bond Bubbles – Greenspan

Federal Debt Expected Rising, 1790 - 2030

“We have a stock market bubble” warns Greenspan. “Bond bubble will be the big issue” he tells Bloomberg TV (see video). “Fiscally unstable long-term outlook in which inflation will take hold”. “Ratio of federal debt to GDP which is extraordinarily high” (see chart). Higher interest rates, inflation and stagflation coming. Gold is the “ultimate insurance policy” – Greenspan

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Gold Bullion May Have Room to Run As Chinese New Year Looms

Gold Spot, Oct 2017 - Jan 2018

Gold bullion tends to rise January and February before Chinese New Year (see table). Gold is nearly 8% and $100 higher since Fed raised rates one month ago. Options traders are bullish and suggest gold has room to run (see chart). Nervous in short term, positive in medium term – gold at $1,500 in 2018.

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Gold Prices Rise To $1,326/oz as China U.S. Treasury Buying Report Creates Volatility

Gold Price in US Dollar, 10-11 January 2018

Gold prices rise to $1,326/oz on concerns China may slow U.S. Treasury buying. Equities fell sharply on the report as did Treasurys and the U.S. dollar. Chinese officials think U.S. debt is becoming less attractive compared to other assets. Trade tensions could provide a reason to slow down or halt U.S. debt purchases. U.S. dollar vulnerable as China remains biggest buyer of U.S. sovereign debt. Currency wars to return as China rejects U.S. hegemony in Asia

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An Interview with GoldCore Founder, Mark O’Byrne

Gold Bars

“Uber-bull predictions of gold at over $5,000 per ounce are not beyond the realms of possibility…” So says GoldCore founder and self-confessed gold bug, Mark O’Byrne. Indeed, I recently caught up with Mark to get his thoughts on gold and what’s going on with it right now… But before we got to the nitty-gritty, I started by asking him a little about his background.

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Low Cost Gold In The Age Of QE, AI, Trump and War

Gold Prices, 2002 - 2017

‘Fear and Loathing In the Age of QE … AI’ is a presentation given at Mining Investment London earlier this week. Stephen Flood, CEO of GoldCore presentation (28 minutes) was well received at the conference which is a strategic mining and investment conference for leaders in the mining and investment sectors, bringing together attendees from 20 countries.

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Bitcoin $10,000 – Huge Volatility of Cryptocurrencies and Risky Fiat Making Gold Attractive

Bitcoin Price Rise

Bitcoin tops $10,000, soaring more than 850% since beginning of 2017. Irrational exuberance arguably main driver of price performance. Google Trends shows search for ‘Bitcoin Bubble’ hit highest level this morning. Buyers need to be aware of hacking and security risks. Other primary risks to widespread adoption is volatility and liquidity risk. World’s largest online trading platform IG Markets suspends BTC trading
– Volatility of cryptocurrencies and risky world of fiat make gold attractive

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Money and Markets Infographic Shows Silver Most Undervalued Asset

Silver Infographic

Money and Markets Infographic Shows Silver Most Undervalued Asset. Silver remains severely under owned and under valued asset. Entire silver market worth tiny $100 billion shown in one tiny square. “All of the World’s Money and Markets in One Visualization”. Must see ‘Money and Markets’ infographic shows relative size of key markets: silver bullion, gold bullion, cryptocurrencies/ bitcoin, largest companies, 50 richest people, Fed balance sheet, currency, stocks, property, cash, debt & derivatives. Small allocation by investors and world’s richest will see silver surge like bitcoin

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Key Charts: Gold is Cheap and US Recession May Be Closer Than Think

Average Annual Gold Price in USD, 1971 - 2017

Every year, Ronald-Peter Stoeferle and Mark J Valek of investment and asset management company Incrementum put together the report In Gold We Trust – 160-plus pages of charts and thoughts, mostly gold-related, on the state of the world’s finances. There’s so much to look at and consider. It’s a sort of digital equivalent of a coffee-table book.

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Silver Bullion Prices Set to Soar

Gold Spot and Bitcoin Price, Jan - Oct 2017

Gold prices have far outpaced gains in silver so far this year, but silver will emerge as the winner for the second year in a row. With a per-ounce price of $17.41 for silver futures as of Friday, analysts say the white metal is poised for a big climb, particularly as the gold-to-silver ratio stands well above historical averages.

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Global Outlook – Mad, Mad, Mad, MAD World: News in Charts

Central Bank Assets, 2007 - 2017

Global Outlook – Mad, Mad, Mad, MAD World: News in Charts by Fathom Consulting via Thomson Reuters. Alarm bells are ringing for economic fundamentalists such as Fathom Consulting. Asset prices look increasingly out of step with fundamentals, and in some cases they look downright bubbly. And other geopolitical developments are similarly alarming. One might even describe them as…

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Perth Mint Gold Coins Sales Double In September

Gold Coin Sales, Aug 2012 - Jul 2017

Perth Mint gold coins see sales double on month in September. Perth Mint silver bullion coin sales surge 78% in September. Perth Mint sold 46,415 ounces of gold in September. Nearly six times more gold coins sold at Perth Mint than U.S. Mint in September. Sales surge at Perth Mint from low base; could indicate trend change and higher demand in coming months

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Gold Investment In Germany Surges – Now World’s Largest Gold Buyers

Germany Gold Investment, 2000 - 2016

Gold investment in Germany surged in past 10 years. Germans are largest gold buyers in world: WGC research. Gold investment in Germany surges to €6.8B in 2016. Gold demand per person is highest in world – double Chinese, UK and U.S. demand. Gold one of the most popular investment for retail investors especially those with high incomes. 59% of respondents agreed with the statement that gold will never lose its value in the long-term. 48% agreed with the statement that owning gold makes me feel secure for the long-term.

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Gold Investment “Compelling” As Fed Likely To Create Next Recession

Gold Investment Debt

Gold Investment “Compelling” As Fed Likely To Create Next Recession. Is the Fed about to kill the business cycle? 16 out of 19 rate-hike cycles in past 100 years ended in recession. Total global debt at all time high – see chart. Global debt is 327% of world GDP – ticking timebomb. Gold has beaten the market (S&P 500) so far this century. Safe haven demand to increase on debt and equity risk. Gold looks very cheap compared to overbought markets. Important to diversify into safe haven gold now

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“This Is Where The Next Financial Crisis Will Come From” – Deutsche Bank

Average Bonds and Equity, 1800 - 2014

In an extensive, must-read report published on Monday by Deutsche Bank’s Jim Reid, the credit strategist unveiled an extensive analysis of the “Next Financial Crisis”, and specifically what may cause it, when it may happen, and how the world could respond assuming it still has means to counteract the next economic and financial crash.In our first take on the report yesterday, we showed one key aspect of the “crash” calculus: between bonds and stocks, global asset prices are the most elevated they have ever been.

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Global Debt Bubble Understated By $13 Trillion Warn BIS

Total Global Debt, 2002 - 2017

Global debt bubble may be understated by $13 trillion: BIS. ‘Central banks central bank’ warns enormous liabilities have accrued in FX swaps, currency swaps & ‘forwards’. Risk of new liquidity crunch and global debt crisis. “The debt remains obscured from view…” warn BIS.

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British People Suddenly Stopped Buying Cars

Total Vehicle Sales, Oct 2011 - 2016

British people suddenly stopped buying cars. Massive debt including car loans, very low household savings. Brexit and decline in sterling and consumer confidence impacts. New cars being bought on PCP by people who could not normally afford them. UK car business has ‘exactly the same problems’ as the mortgage market 10 years ago, according to Morgan Stanley. Bank of England is investigating to make sure UK banks are not overly expose.

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Buy Gold for Long Term as “Fiat Money Is Doomed”

Gold Daily, Jul 2010 - Oct 2017

Buy gold for long term as fiat money is doomed warns Frisby. Gold’s “winning streak” will continue in long term. September is traditionally a good month for gold, as we head into the Indian wedding season. “It’s just a matter of time before gold comes good again…” by Dominic Frisby, Money Week. Today folks, by popular demand, we’re talking gold.. It’s had a nice summer run. What now?

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Safe Haven Gold Rises To $1338 as U.S. Warns of ‘Massive’ Military Response

Relative Performance

Safe haven gold extends rally to 11-month high after North Korea nuke test and U.S. warns of ‘massive’ response. Asian and European stocks fall, bonds flat, gold, silver, palladium, Swiss franc rise as Korea tensions flare as North Korea tests ‘hydrogen bomb’. North Korea prepares for possible ICBM launch says S. Korea. U.S. warns of ‘massive,’ ‘overwhelming’ military response to North Korea after meeting with Trump. Trump weighing new economic sanctions that target China.

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Diversify Into Gold On U.S. “Political Instability” Advise Blackrock


Gold set to shine as Washington stumbles. “Bet on gold’s diversifying properties rather than political stability”. World’s largest asset manager believes Trump and political drama in the U.S. means gold likely to rise. Real rates flattening out and rising political instability – Blackrock’s Koesterich. “For now my bias would be to stick with gold” – Blackrock. U.S. debt ceiling issue to be fractious as bankrupt U.S. hits $20 trillion debt. Investors will again turn to gold in coming political strife

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Buy Gold Urges Dalio on Linkedin – “Militaristic Leaders Playing Chicken Risks Hellacious War”

Global Asset Class Volatility, 1900 - 2017

Don’t let “traditional biases” stop you from diversifying into gold – Dalio on Linkedin. “Risks are now rising and do not appear appropriately priced in” warns founder of world’s largest hedge fund. Geo-political risk from North Korea & “risk of hellacious war”. Risk that U.S. debt ceiling not raised; technical US default. Safe haven gold likely to benefit by more than dollar, treasuries.

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Silver Mining Production Plummets 27 percent At Top Four Silver Miners

Top Primary Silver Miners Q2 2017 Production Decline

Silver Mining Production Plummets 27% At Top Four Silver Miners by SRSRocco Report
In an interesting change of events, production at four of the top primary silver miners plummeted during the second quarter of 2017. This goes well beyond normal fluctuations in mining companies production figures during different quarterly reporting periods.

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Gold Consolidates On 2.5percent Gain In July After Dollar Has 5th Monthly Decline

Gold in USD, Jan 2013 - 2017

Gold consolidates on 2.5% gain in July as the dollar has fifth monthly decline. Trump administration and vicious “civil war” politics casting shadow over America and impacting dollar. All eyes on non farm payrolls today for further signs of weakness in U.S. economy. Gold recovers from 1.7% decline in June as dollar falls. Gold outperforms stocks and benchmark S&P 500 YTD.

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Gold A Good Store Of Value – Protect From $217 Trillion Global Debt Bubble

U.S. Global Investors, 2002 - 2017

‘Mother of all debt bubbles’ keeps gold in focus. Global debt alert: At all time high of astronomical $217 T. India imports “phenomenal” 525 tons in first half of 2017. Record investment demand – ETPs record $245B in H1, 17. Investors, savers should diversify into “safe haven” gold. Gold good ‘store of value’ in coming economic contraction.

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“Financial Crisis” In 2017 Or By End Of 2018 – Prepare Now

Central Bank Balance Sheets of Financial Crisis, 2007 - 2017

John Mauldin of Mauldin Economics latest research note, Prepare for Turbulence, is excellent and a must read warning about the coming financial crisis. Mind refreshed from what sounds like a wonderful honeymoon and having had the time to read some books outside his “comfort zone” he has come to the conclusion that we are on the verge of a “major financial crisis, if not later this year, then by the end of 2018 at the latest.”

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“Financial Crisis” Of Historic Proportions Is “Bearing Down On Us”

Outcome of Financial Crisis on Central Bank's Balance Sheets

“Financial Crisis Of Historic Proportions” Is “Bearing Down On Us”. John Mauldin of Mauldin Economics lata“Financial Crisis Of Historic Proportions” Is “Bearing Down On Us”.
John Mauldin of Mauldin Economics latest research note, Prepare for Turbulence, is excellent and a must read warning about the coming financial crisis.

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“Silver’s Plunge Is Nearing Completion”

Silver Price

– Silver’s plunge is nearing completion – Bloomberg analyst. Silver’s 10% sharp fall in seconds remains “mystery”. Plunge despite anemic global supply and strong demand .Total silver supply declined in ’16 – lowest level since ’13. Silver mine production down in ’16, first time in 14 years. Total silver supply decreased by 32.6 Mln Ozs in 2016
.Supply deficit in 2016- fourth consecutive year (see table). “Falling knife” caution but opportunity presenting itself

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Silver Prices Bounce Higher After 7% Fall In Minute

Silver Prices, 06-07 July

– Silver prices ‘flash crash’ before rebound– Silver hammered 7% lower in less than minute in Asian trading– Silver fell from $16 to $14.82, before recovering to $15.89– Silver plunge blamed on another ‘trading error’– Gold similar ‘flash crash’ last week and similar recovery– Hallmarks of market manipulation as $450 million worth of silver futures sold in minute– Trading ‘errors’ always push gold and silver lower. Why never higher?

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Go for Gold – Win a beautiful Gold Sovereign coin

Gold Sovereign

The Irish Times has teamed up with GoldCore, Ireland’s first and leading gold broker, to offer you the chance to win a beautiful, freshly minted Gold Sovereign coin (2017) which contains nearly one quarter of an ounce of gold and is ‘investment grade’ 22 carat pure gold.

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Gold Prices Break 6-Year-Long Downtrend On Safe Haven and 50percent Surge In Chinese Demand

Gold prices technical 2008-2017

Gold prices break 6 year down trend on safe haven demand (see charts). Chinese gold demand set to surge 50% to 1,000 metric tonnes. Chinese demand for gold bars on track to surge more than 60 percent in 2017. Geopolitical risk internationally leading to safe haven demand. UK election, terrorism and rising tensions in Middle East supporting gold after attacks in London and attacks in Iran today.

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Deposit Bail In Risk as Spanish Bank’s Stocks and Bonds Crash

Deposit Bail In Banco Popular, 2006 - 2017

Deposit bail in risk as stocks and bonds of Spanish bank – Banco Popular – crash. Banco Popular stock crashes most on record – down 63% this year to 34 euro cents. Spanish bank tells employees – “Don’t panic”. Risk of Spanish banking crisis as Banco Popular credit curve inverts. Banco Popular needs to find at least €4 billion more capital – analysts.

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Silver Bullion In Secret Bull Market

Gold And Silver Prices, May 2016 - May 2017

Do you think silver is poised to go higher? I sure do. That’s because I’m watching what is going on in the world’s silver ETFs. I’m also watching the mountain of forces that are piling up to push the metal higher.
Look at this chart. It shows all the metal held by the world’s physical silver ETFs (black line). And all the metal held by the world’s physical gold ETFs (blue line) …

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Manchester Attack Sees Asian Stocks Fall, Gold Firm

Gold In GBP

The appalling attack in Manchester overnight in which over 22 people have been killed has led to a slight uptick in risk aversion in markets. Investors are cautious after police said they were treating a bombing at a concert in the Manchester Arena as a “terrorist incident”.

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Cyber Attacks Show Vulnerability of Digital Systems and Digital Currencies

Cyber War

Cyber Attacks Show Vulnerability of Digital Systems and Digital Currencies – Cyberattacks expected to spread today in “second phase”– UK intelligence says scale of threat significant– Microsoft slams NSA for letting hacking tools cause global malware epidemic– Ransomware attack already crippled more than 200,000 computers in 150 countries– 1.3 million computer systems believed to be at risk

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History of Gold – Interesting Facts and Changes Over 50 Years

GFMS Gold Survey 2003-2015

History of Gold – How the gold industry has changed over 50 years. Thomson Reuters GFMS have compiled an interesting high level history of the gold industry in the last fifty years. Topics covered and interesting historical facts to note include: Gold market size– Gold mine production “peaked in 2015”. South African production collapse from 1,000 tonnes.

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Gold Bullion Imports Into China via Hong Kong More Than Doubles in March

China Gold Import, Monthly from Hong Kong, 2001 - 2017

Gold bullion imports into China via main conduit Hong Kong more than doubled month-on-month in March, data showed on Tuesday as reported by Reuters. Net-gold imports by the world’s top gold consumer through the port of Hong Kong rose to 111.647 tonnes in March from 47.931 tonnes in February, according to data emailed to Reuters by the Hong Kong Census and Statistics Department.

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Trump To “Bully” Fed Into Printing Money – Negative for Stocks, Positive for Gold

Gold Price, 1971 - 1979

David McWilliams has written an interesting article in which he puts forward the case that Trump is likely to turn on the “enemy within,” the Federal Reserve and bully them into “printing money.” He points out that this was seen in 1971 when Nixon bullied the Fed into printing and debasing the dollar. McWilliams says this would be bad for stocks markets which would fall in value as was seen in the 1970s.

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Silver Production Has “Huge Decline” In 2nd Largest Producer Peru

Peru Silver Production, February 2016 - February 2017

Silver production sees “huge decline” in Peru. Production -12% in one month in 2nd largest producer. Silver decline is due to ‘exhaustion of reserves’ in Peru. GFMS recognise that ‘Peak Silver’ was reached in 2015. Global silver market had large net supply deficit in 2016. Silver rallied 13.5% in Q1 in 2017. Base metal production accounts for 56% of silver mining.

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Perth Mint Silver Bullion Sales Rise 43 percent In March

Perth Mint’s silver bullion sales rise 43% in March. Perth Mint’s monthly gold coin, bars sales fall 12%. Gold silver ratio of 32 – 32 times more silver ounces sold. Gold: 22,232 oz and Silver: 716,283 oz – bullion coins and minted bars sold. Gold is 2.6% higher and silver surged 3.1% in the shortened week with markets closed for Good Friday tomorrow.

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Gold Price Surges Above Key 200 Day Moving Average $1270 Level

Initial target for gold

Gold price breaks above key 200-day moving average. Gold hits 5-month high on back of investor nervousness. Safe haven has 10% gains in 2017 after 9% gains in 2016. Gold options signal more gains as ETF buying increases. Geopolitical uncertainty over North Korea & Middle East. Tensions high -World awaits US move & Russia response.

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Bank of England Rigging LIBOR – Gold Market Too?

Bank of England implicated in LIBOR scandal by BBC. “We’ve had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower.” “This goes much much higher than me”- UBS’ Tom Hayes. Libor distraction as all markets are manipulated today. Central bank’s “rigging” bond markets and likely gold.

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Gold Silver Oil Spike After U.S. Bombs Syria

Gold Jumps

Gold silver oil spike after U.S. bombs Syria. Gold and silver spike 1% as oil rises 1.4%. Gold breaks 200 day moving average, 4th week of gains. Stocks fall after U.S. strikes in Syria rattle markets.  U.S. missiles hit airbase; Lavrov says no Russian casualties; Russia deploys cruise missile frigate to Syria.

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Gold, Silver Best Performing Assets In Q1, 2017

YTD 2017 Relative Performance

Gold, silver two of the best performing assets in the first quarter of 2017 with gains of  8% and 14% respectively. Gold outperforms benchmarks – S&P 500 up 6%, MSCI (All Country World Index) up 6.4% (see tables). Nasdaq and German DAX rise 11.8% and 7.6%. Silver best performing currency in quarter. Five best performing currencies in Q1 are in order – silver, bitcoin, Mexican peso, Russian ruble and gold.

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Brexit Gold Buying – UK Demand for Gold Bars Surges 39 percent

Gold Bars and UK GBP, Jan 2008 - 2017

As the UK triggered its formal departure from the European Union yesterday, gold demand from UK investors remained ongoing and robust with increased numbers of British investors diversifying into physical gold in order to hedge the considerable uncertainty and volatility that the coming months and years will bring.

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Peak Gold – Biggest Gold Story Not Being Reported

South Africa Gold Production

Peak gold – Biggest gold story not being reported. Gold ‘Mining Zombie Apocalypse’ caused miners to slash exploration budgets. Decline in gold production at world’s top 10 gold mining companies – Byron King. “No new big mines being built in the world today” – Glencore CEO Glasenberg. Primary global gold output declined in 2016 – Thomson Reuters via

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The Best Ways to Invest in Gold Today

Gold Britannias

The cost of buying and selling gold. How to buy gold on the cheap. How to avoid paying capital gains tax (CGT) on your gold. Open an account with one of the online bullion dealers – the likes of GoldMoney, GoldCore or Bullion Vault. Gold Sovereigns and Gold Britannias make for a considerable saving on cost because of the CGT exemption.

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James Rickards: Long-Term Forecast For $10,000 Gold

Gold Inflation Adjusted 1970-2017

James Rickards: Long-Term Forecast For $10,000 Gold. James Rickards, geopolitical and monetary expert and best selling author of the ‘The New Case for Gold’ has written an interesting piece for the Daily Reckoning on why he believes gold will reach $10,000 in the long term.

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Art Market Bubble Bursting? Gauguin Priced At $85 Million Collapses 74 percent


Art Market Bubble Bursting? Russian Billionaire Takes 74% Loss On “Investment”. $85 Million Gauguin Bought By Dmitry Rybolovlev in 2008. Christie’s auctioned the work at its evening sale in London. Global art sales plummet, but China rises as ‘art superpower’. China soon to dominates global art and gold market. Art price volumes doubled since 2009. As currencies debase super rich seek out stores of value. Gold remains accessible store of value for all. Stocks, bonds and many assets at record prices.

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Gold Up 9 percent, Silver 14 percent YTD As Le Pen’s Lead Widens

Year to date relative performance

Gold up 1.5% in euros and dollars this week. Silver up 1.4% this week and now up 14.3% and is the best performing market YTD. Gold up 9% year to date – fourth consecutive higher weekly close and breaks resistance at $1,250/oz. Gold up 9.4% in euros year to date as Le Pen’s lead in polls widened. Gold up another 6.4% in sterling pounds year to date as ‘Hard Brexit’ looms.

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Gold To Benefit from Rising Inflation and Higher Than “Official” China Gold Demand

US Inflation Zooms up 5 Year High

Frank Holmes joins Lawrie Williams, Koos Jansen and many others in questioning the “official” Chinese gold demand numbers. Real gold demand is likely much higher than the official numbers. Inflation just got another jolt, rising as much as 2.5 percent year-over-year in January, the highest such rate since March 2012. Led by higher gasoline, rent and health care costs, consumer prices have now advanced for the sixth straight month.

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Russia Gold Buying Returns – Buys One Million Ounces In January

Russian Central Bank Gold Reserves January 2017

Russia Gold Buying Returns – Adds Substantial One Million Ounces To Reserves In January. Russia gold buying returned in January with the Russian central bank buying a very large 1 million ounces or 37 metric tonnes of gold bullion. The increase in the gold reserves came after Russia did not buy a single ounce in December – a move seen as potentially a signal or an olive branch to the U.S. and the incoming Trump administration.

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Gold Prices Rising As “World Has Never Been More Uncertain”

Uncertainty Is At Record Highs 1990 - 2016

Gold prices rising & up 6.6% YTD. Signal “impending market volatility”. World has never been more uncertain (see chart). Fear in Wall Street versus Fear in Washington. Price of ‘plunge protection’ rising even as VIX remains low. Smart money diversifying into gold. Important to watch rising gold and rising bond yields. Gold may prove the “tell”.

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Gold Bullion Banks To “Open Vaults” In Transparency Push

LBMA Vaulted Gold in London 2011, 2014, 2015

London Gold Bullion Banks To “Open Vaults” In Transparency Push. London’s gold bullion market, which is centuries old, is said to be seeking transparency with plans to reveal how much gold bullion is held in vaults in and around London city according to gold bullion banks.

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Precious Metals As Safe Havens – Reassessing Their Role

Brian Lucey and Sile Li

New research confirms that not just gold but also the other precious metals – silver, platinum and palladium bullion – act as safe havens, especially from ‘Economic Policy Uncertainty.’ This is something that is particularly prevalent today due to the ‘Hard Brexit’ impact on the UK and the Eurozone, risk of trade wars and heightened financial and geopolitical risk under the Trump Presidency.

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Why 2017 Could See the Collapse of the Euro – Stiglitz

Gold in EUR

2017 could be the year that the euro collapses according to Joseph Stiglitz writing in Fortune magazine and these concerns were echoed over the weekend by former Bundesbank vice-president and senior European Central Bank official, Jürgen Stark, when he said that the ‘destruction’ of the Eurozone may be necessary if countries are to thrive again.

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Gold’s average gains in inauguration years of 15 percent since 1974

Gold's Gusto, Bullion bulls thrive in most inauguration years

Gold’s average gains in inauguration years of 15% since 1974. First year of new President frequently a time of increased uncertainties and risks. Gold rose 30% in the 12 months after Obama inauguration. Massive political uncertainty. President’s conflict with the CIA. ‘Strong dollar policy’ to end as U.S. has $120 trillion plus debt. Trump inherits Bush and Obama’s humongous debt.

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