Got Gold Blog

Monday, September 01, 2014

The Bad News Out Of Europe Is Intensifying

Sam Ro writes for BusinessInsider.com. All of the economic signals confirm that growth in the eurozone economy is going nowhere. The Eurozone manufacturing purchasing managers index plunged to a 13-month low of 50.7 in August., down from 53.8 in July. This was worse than the 50.8 expected by economists. Any reading above 50 signals growth, and the eurozones PMI is rapidly tumbling to that no-growth level.

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Sunday, August 31, 2014

Deflation knocks at ECB's door, markets look for cash boost

From BusinessWorld Online without a by line. FRANKFURT -- Financial markets are looking to the European Central Bank to open the cash floodgates next week after consumer price data showed the 18-country eurozone is flirting with deflation, analysts said. Speculation is rising that the ECBs decision-making governing council could signal plans for what is known as quantitative easing or QE at its regular monthly meeting on Thursday. This is a radical policy -- already used by other central banks such as the US Federal Reserve -- of buying securities on a big scale to inject cash into the economy. The ECB has already

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COMEX Commercial Traders Reduce Shorts on Gold Futures, but Steady on Silver

HOUSTON – (Got Gold Report) – Large reporting commercial traders on the COMEX bourse in New York reported a considerably smaller net short position in gold futures. Taking the Legacy COT report as a guide, since August 12, when gold closed at $1309.12, as gold drifted $28.49 or 2.2% lower, we can point to a reduction of a rather large 37,139 contracts or 23.1% of the combined large commercial net short positioning (LCNS). Gold off 2.2% over the last two reporting periods, LCNS down 23.1%. (CFTC for COT, Cash Market for gold, GGR, all charts.)

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Koos Jansen - Chinese Weekly Gold Demand Highest Since February

Koos Jansen writes for BullionStar.com . He is a keen observer of the precious metals biz in Asia. Koos begins: Withdrawals from the Shanghai Gold Exchange vaults, which equals Chinese wholesale demand, in week 34 (August 18 to 22) accounted for 46 metric tonnes, the highest weekly amount withdrawn since late February (25 weeks ago).Year to date wholesale demand stands at 1209tonnes. Its worth stressing that this number includes gold that is recycled through theSGE. By using the followingsimplified equation:

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Saturday, August 30, 2014

Holmes - Anticipate Before You Participate: Patterns in Trading

Frank Holmes, CEO of U.S. Global Investors in San Antonio writes: The primary unit of time measurement for high-frequency traders might be the microsecond, but for normal retail traders, it’s vital to know the best months, days and even half-hours of the day to make market transactions. Consider Black Friday, the most active shopping day of the year. Let’s say a 60” 1080p plasma HDTV normally goes for around $900 but, on Black Friday, is discounted to $500. That’s a 44 percent savings. If you had a desire to own this TV and were somehow guaranteed a way to bypass the rabid mobs,

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Friday, August 29, 2014

Gold and Silver Disaggregated COT Report (DCOT) for August 29

HOUSTON – The Commodity Futures Trading Commission (CFTC) released data for the disaggregated commitments of traders (DCOT) and Legacy “COT” reports for the week ending August 29, 2014. Our recap of the net positioning for large reporting futures traders is below, compared to the prior week’s data. Source: CFTC for COT data, Cash Market for gold and silver prices. The positioning and price data is as of the close of trade in New York on Tuesday, August 26, 2014. In the DCOT table above a net short position shows as a negative figure in red. A net long position shows in black. In

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Obama Says ‘We Don’t Have a Strategy Yet’ for Fighting ISIS

Zeke Miller writes for Time. “I don’t want to put the cart before the horse. President Barack Obama seemed to commit the worst of Washington gaffes Thursday when he updated the American people about the ongoing threat from Islamist militants wreaking havoc in Iraq and Syria. “I don’t want to put the cart before the horse: we don’t have a strategy yet,” Obama said of the effort to combat the militant group Islamic State of Iraq and Greater Syria (ISIS) in its safe haven in Syria. “I think what I’ve seen in some of the news reports suggest that folks are getting a

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Thursday, August 28, 2014

Axel Merk - I Fear a Crash

Greg Hunters set up for the video below reads: Money manager Axel Merk is worried about financial risk and that it is being downplayed. Merk says, “I am very concerned. I am spooked about the equity markets. The folks that buy stocks buy them because they have to keep up with the markets. The folks that buy gold buy it because they like gold. Just recently, you have a down turn, and you don’t have this rush to sell gold right now because the folks holding it are strong hands. Whereas in the stock market, if you have a wave of sellers, who

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Biderman - U.S. Float Shrink Bullish $40 Billion per Month

Charles Biderman of Trim Tabs explains why he intends to remain bullish for equities for the time being. He continues to see more dollars chasing fewer shares of stock – which Biderman says is why stocks will go higher still. He says that the “float shrink” is about $45 billion per month, which provides a tail wind for equities. Video below, about 3 minutes. CNBC http://video.cnbc.com/gallery/?video=3000306291

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Wednesday, August 27, 2014

David Tice - Trees Don’t Grow to the Sky – The Fed will Lose the Confidence of the Market at Some Point

David Tice, of Tice Capital and formerlythe Prudent Bear Fund says that quantitative easing is not a long term growth strategy. He says the Fed has engineered a “nice recovery,” but “trees don’t grow to the sky.” Tice is not yet getting short the market … he’s playing gold bullion and gold stocks for now, sayinggold represents an unusuallyattractive opportunity."I've never been more confident of anything in my life," he said, referring to gold bullion. Tice sees a period ahead of "extreme turmoil" and expects there will be a 30% to 60% decline for equities. Although if Tice gave a hint of timing

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Gold - Mining Shares Divergence Looking Like a Tell

HOUSTON – (Got Gold Report) – When we consider how strong the U.S. Dollar Index has been and then look at how gold has held close to the $1300 level, more or less (only testing $1270 thus far), and then when we look at the action in some of the mining shares indices, like the Market Vectors Junior Gold Miners Index ETF or GDXJ, which has doggedly held near the top of its trading range after putting in what looks a lot like an inverted head and shoulders bottom with a very wide base, well, it is starting to look a lot like

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Koos Jansen - Chinese Gold Demand 1163 MT YTD. Silver Surprise

Koos Jansen writes for BullionStar.com and is a keen observer of the Chinese market for precious metals. He begins... Withdrawals from the Shanghai Gold Exchange (SGE), whichequalChinese wholesale demand, accounted for 35 metric tonnes in week 33 (August 4 – 8). Up 7.25 % w/w, additionally the largest amount withdrawn in 8 weeks.Year to date 1163 tonnes have been withdrawn, for which I estimate 723 tonnes had to be net imported into the mainland. ... For the full report: BullionStar.com GGR comment: What a shame the people of Chinahave a 17% State Premium to make up if buying silver bullion. Government taking a

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James Grant on Bubbles, Bargains and Everything in Between

A worthy video below as Steve Forbes interviews James Grant on bubbles, bargains and everything in between. Video, about 34 minutes. Best viewed on Page 2. (Click on the title of this piece or at the lowest link below for it.) Thanks to GGRpatron D.S. for the link. The Daily Reckoning http://dailyreckoning.com/james-grant-on-bubbles-bargains-and-everything-in-between/ Click on the link justbelow for Page 2.

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Equities Reach Record $66 Trillion as S&P 500 Hits 2,000

Inyoung Hwang writes for Bloomberg. // Rallies from Brazil to Japan and the Standard Poor’s 500 Index’s first trip above 2,000 sent the value of global equities to a record $66 trillion. Shares worldwide added more than $2.2 trillion in value since Aug. 7, according to data compiled by Bloomberg. Optimism that central banks will support economic growth sent the MSCI All-Country World Index up 3.8 percent from its low this month. The SP 500 has risen for 10 of the last 13 days and the Nasdaq Composite Index is about 10 percent from an all-time high. Global markets are surmounting crises in

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Tuesday, August 26, 2014

Politics - IRS lawyer: Lois Lerner's Blackberry deliberately destroyed after start of congressional probe

Doug McKelway reports for Fox News. Lois Lerner’s Blackberry was intentionally destroyed after Congress had begun its probe into IRS targeting of conservative groups, a senior IRS lawyer acknowledged in a sworn declaration.

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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

Brien Lundin, CEO, Jefferson Financial, Host of the annual New Orleans Investment Conference and Publisher of Gold Newsletter


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