Category Archive: Gold

Bitcoin Price Falls 40percent In 3 Days Underling Gold’s Safe Haven Credentials

2017-09-18

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2017-09-18

Bitcoin Price in USD, 12 September
Bitcoin price action shows cryptos vulnerable to commentary and government policies. Bitcoin falls to low of $2,980, down by $1,000 in week as China flexes muscles. Volatility major issue: In 3 days btc fell 40% before bouncing 25% off lows. BIS state risks of cryptos cannot yet be fully assessed and says technology still unproven. Apple and Google developing a payment API for cryptos – may give governments full oversight. Bitcoin and cryptos...

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Bitcoin: Tragedy of the Speculations

2017-09-17

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2017-09-17

The Instability Problem. Bitcoin is often promoted as the antidote to the madness of fiat irredeemable currencies. It is also promoted as their replacement. Bitcoin is promoted not only as money, but the future money, and our monetary future. In fact, it is not. Why not? To answer, let us start with a look at the incentives offered by bitcoin.

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Gold Up, Markets Fatigued As War Talk Boils Over

2017-09-16

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2017-09-16

Sudden Lack of Impact
North Korea threatens to reduce the U.S. to ‘ashes and darkness’. Markets becoming used to ongoing provocations from North Korea. Russia and China continue to support watered down versions of sanctions on Kim’s regime. Both NATO and Russia running war games on one another’s borders. Putin says Russia will “give a suitable response” to NATOs threatening behaviour.

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Oil Rich Venezuela Stops Accepting Dollars

2017-09-15

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2017-09-15

History of World Reserve Currencies
President Maduro ” Venezuela will create a basket of currencies to free us from the dollar,”. Oil traders ordered to stop accepting U.S. dollar in exchange for crude oil. Order comes following calls from Russia and China to find alternatives to current reserve system. U.S. Dollar accounts for two-thirds of global trade. Venezuela has over ten-times more oil than United States. Super powers are gradually turning to gold to avoid using world’s main...

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British People Suddenly Stopped Buying Cars

2017-09-14

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2017-09-14

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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Precious Metals Supply and Demand

2017-09-13

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2017-09-13

Gold and Silver Price
Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

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

2017-09-13

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2017-09-13

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

2017-09-12

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2017-09-12

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...

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“Things Have Been Going Up For Too Long” – Goldman CEO

2017-09-11

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2017-09-11

Goldman CEO
“Things have been going up for too long…” – Goldman Sachs’ CEO. Lloyd Blankfein, Goldman CEO “unnerved by market” (see video). Bitcoin bubble is no outlier says Bank of America Merrill Lynch. Bubbles are everywhere including London property. $14 trillion of monetary stimulus has pushed investors to take more risks. We are now in a new era of bigger booms and bigger busts – BAML. “Seeing signs of bubbles in more and more parts of the capital market”...

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Gold Has 2 percent Weekly Gain, 18 percent Higher YTD – Trump’s Debt Ceiling Deal Hurts Dollar

2017-09-10

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2017-09-10

Gold Price in USD, Sep 2017
Gold hits $1,355/oz as USD at 32-month low -concerns about Trump, US economy. Silver and platinum 2.3% and 1.2% higher in week; palladium 3% lower. Euro Stoxx flat for week – S&P 500, Nikkei down 0.65% and 2.2%. Geo-political concerns including North Korea, falling USD push gold 2.1% in week. Gold prices reach $1,355 this morning following Mexico earthquake. Safe haven demand sees gold over one year high, highest since August 2016.

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Le retour de l’or sur la scène monétaire mondiale?

2017-09-09

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2017-09-09

Gold
Mars 2009, le gouverneur de la Banque populaire de Chine M Zhou Xiaochuan revint  dans le cadre d’une conférence intitulée Reform the international Monetary System sur la vision de Keynes au sujet du bancor.Pour lui, le système centré sur le dollar américain et les taux de changes flottants, plus ou moins librement, devrait être repensé.

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Currywurst? That’ll be 0.0019 bitcoins please

2017-09-09

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2017-09-09

The traditional favourite snack of late night revellers - the currywurst, or curried sausage – has just entered the digital world. It can now be paid for using the cryptocurrency bitcoin in Switzerland. The Wurst & Moritzexternal link company has responded to repeated demand from customers to spend their hard-earned bitcoins in its restaurants in Zurich and Bern.

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Physical Gold In Vault Is “True Hedge of Last Resort” – Goldman Sachs

2017-09-08

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2017-09-08

Gold
Physical gold is “the true currency of the last resort” – Goldman Sachs. “Gold is a good hedge against geopolitical risks when the event leads to a debasement of the dollar” . Trump and Washington risk bigger driver of gold than risks such as North Korea. Recent events such as N. Korea only explain fraction of 2017 gold price rally. Do not buy gold futures or ETFs rather “physical gold in a vault” [is] the “true hedge”.

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Bitcoin, Sour Grapes and the Institutional Herd

2017-09-07

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2017-09-07

One Year Chart of Bitcoin, Oct 2016 - Jul 2017
The point is institutional ownership of bitcoin is in the very early stages. If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I'd be a billionaire. There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:

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Bitcoin Falls 20 percent as Mobius and Chinese Regulators Warn

2017-09-06

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2017-09-06

Bitcoin in USD 1 Year
Bitcoin falls 20% as Mobius and Chinese regulators warn. “Cryptocurrencies are beginning to get out of control” – warns respected investor Mark Mobius. Mobius believes governments will begin to clamp down on cryptocurrencies sparking rush to gold. Yesterday China’s PBOC ruled Initial Coin Offerings (ICOs) are illegal and all related activity to halt. China is home to majority of bitcoin miners.

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The Forking Paradise – Precious Metals Supply and Demand Report

2017-09-06

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2017-09-06

Gold & Silver Prices
Keith Weiner's weekly look on Gold. Gold and silver prices, Gold-Silver Price Ratio, Gold basis and co-basis and the dollar price, Silver basis and co-basis and the dollar price.

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4 Reasons Why “Gold Has Entered A New Bull Market” – Schroders

2017-09-05

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2017-09-05

Gold price and S&P500 Performance, 1961 - 2017
4 reasons why “gold has entered a new bull market” – Schroders. Market complacency is key to gold bull market say Schroders. Investors are currently pricing in the most benign risk environment in history as seen in the VIX. History shows gold has the potential to perform very well in periods of stock market weakness (see chart). You should buy insurance when insurers don’t believe that the “risk event” will happen. Very high Chinese gold demand,...

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Precious Metals Outperform Markets In August – Gold +4 percents, Silver +5 percents

2017-09-04

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2017-09-04

Prices
All four precious metals outperform markets in August. Gold posts best month since January, up nearly 4%. Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand. S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month. Platinum is best performing metal climbing over 5%. Palladium climbs over 4% thanks to seven year supply squeeze.

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Six Banks Join UBS’s “Utility Coin” Blockchain Project

2017-09-03

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2017-09-03

Here’s a piece of news that the remaining human members of Wall Street’s FX sales and trading desks probably don’t want to hear. According to the Financial Times, six of the world’s largest banks have decided to join a blockchain project called “utility coin” that will allow banks to settle trades in securities denominated in different currencies without a money transfer.

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Gold Reset To $10,000/oz Coming “By January 1, 2018” – Rickards

2017-09-02

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2017-09-02

If you have investable assets of
Trump could be planning a radical “reboot” of the U.S. dollar. Currency reboot will see leading nations devalue their currencies against gold. New gold price would be nearly 8 times higher at $10,000/o. Price based on mass exit of foreign governments and investors from the US Dollar. US total debt now over $80 Trillion – $20T national debt and $60T consumer debt. Monetary reboot or currency devaluation seen frequently – even modern history. Buy...

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