Seven Things that Drove Gold News in 2017

On Dec. 31, 2016, the price of gold stood at 1,156.00. Today, it is knocking on the $1,300 mark. The yellow metal is on track to gain about 12% in 2017, its best year since 2010. Gold has made these gains despite a number headwinds that we would expect to put a significant drag on gold.
Here are seven major themes that have driven gold news over the past year.
Geopolitical risk
Over the last year, we’ve talked a lot about geopolitical risk. Could turmoil around the world now be the new normal?
Some analysts think so.
The focus has primarily been on tensions between the US and North Korea. But there have been plenty of other risk factors popping up around the world, including ongoing uncertainty about Brexit, the secession movement in Catalonia, war in the Middle East, terror attacks, tensions between the US and Russia, various elections, a coup in Zimbabwe, and more. On top of that, outside of the US, a lot of people think Americans should be looking at the geopolitical risks right here at home due to political divisions and uncertainty in Washington D. C.

This post was published at Schiffgold on DECEMBER 29, 2017.


Why Buying Gold Is a Good Idea in 2018

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
Buying gold is a good idea in 2018 for investors not only looking to protect their wealth, but to also grow it.
According to Money Morning Resource Specialist Peter Krauth, the price of gold will rally significantly next year. He expects gold prices to hit $1,350 by late February 2018. But it’s nothing compared to his 2020 gold price target.
Everyone knows that gold is an excellent hedge during times of uncertainty and political turmoil.
Events like North Korea’s recent missile testing and the continuing controversies in Washington drove the price of gold from $1,150 to as high as $1,350 in September of this year.

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ December 22, 2017.


North Korea: Starved To Death Prisoners’ Bodies Fed To Dogs In Brutal Regime

As North Korea continues to violate human rights on almost every level, news is now surfacing that the tyrannical regime doesn’t just starve their political prisoners. Kim Jong-Un’s brutal dictatorship also feeds the corpses of those starved to death to the dogs.
In difficult to hear testimony in front of United Nations, North Korean defector Ji Hyeon-A explained how government officials in the hermit kingdom beat her and fed her only rotten food. Ji has escaped the regime three times now, and all three times, she said she was sent back to face horrific punishments in the impoverished nation. Ji was repatriated three times to North Korea after she was caught in China, before eventually escaping the brutal regime for good when she made it to South Korea in 2007.
According to the Express, Ji is now reunited with her mother and brother, as well as her younger sister – who was trafficked and sold into slavery after a failed escape attempt. But the family has still heard nothing about their father.
Ji described the conditions at one detention center as overly gruesome. She said that the inmates were regularly starved to death while Kim Jong-Un gorges on expensive imported Swiss cheese and French red wine with no regard for his citizens. It’s obvious Kim hasn’t missed any meals. She also explained that when the prisoners are fed, they are given raw locusts and skinned frogs and rats as food.

This post was published at shtfplan on December 12th, 2017.


Gold Prices Will Jump After the December Fed Meeting

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
Gold prices haven’t been making headlines to compete with record-high stocks or Bitcoin reaching $10,000. But that’s all about to change…
The price of gold has appeared stagnant since October.
Normally, traders flock to the precious metal during times of uncertainty and instability. That’s why it was surprising that not even another ballistic missile fired by North Korea was enough to rally gold prices.

This post was published at Wall Street Examiner on December 4, 2017.


Gold Shorts Plunge To 5-Year Lows

Despite the record highs in stocks (and consumer confidence), a ‘resurgent’ economy, tax reforms, rate-hikes, and deregulation; traders are adamantly opposed to shorting precious metals…
As Bloomberg points out, hedge funds and other large speculators pared their bearish position on bullion futures and options to a five-year low last week, driven in part by looming geopolitical risks from North Korea and the U. S.

This post was published at Zero Hedge on Dec 4, 2017.


Doug Noland: China Initiating a Global Bear Market?

Chair Yellen is widely lauded for her accomplishments at the Federal Reserve. For the most part, her four-year term at the helm boils down to four (likely soon to be five) little rate hikes over 24 months. Most lavishing praise upon Janet Yellen believe she calibrated ‘tightenings’ adeptly and successfully. Yet financial conditions have obviously remained much too loose for far too long. This predicament was conspicuous in the markets this week. A test of a North Korean ICBM that could reach the entire U. S. modestly pressured equities for about five minutes – then back to the races.
Bubble Dynamics are in full force. The Dow gained 674 points this week. The Banks were up 5.8%, the Broker/Dealers gained 4.5% and the Transports jumped 5.9%. The Semiconductors were hit 5.6%. Bitcoin traded as high (US spot) as $11,434 and as low as $9,009 in wild Wednesday trading. Curiously, the VIX traded up 15% this week to 11.43.
It used to be that markets would fret the Fed falling ‘behind the curve,’ fearing central bankers would be compelled to employ more aggressive tightening measures. Not these days. Any fear of central bank-imposed tightening is long gone. There is little fear of anything.

This post was published at Wall Street Examiner on December 2, 2017.


Asian Metals Market Update: November-30-2017

Gold and silver fell yesterday on a technical breakdown. Gold could consolidate in a wider $1240-$1290-$1360 range for a few months. Questions are being asked to how can gold rise? Two factors can result in gold zooming over the next few months (a) There is a clear indication that global central bankers (including the Federal Reserve) will raise interest rate at a slower pace next year. (b) There is an armed attack by NATO forces in North Korea. I will prefer to use the current correction and further correction (if any) in gold and silver to invest for next year. Option traders can invest in far dated call options in gold and silver. Silver options will be cheaper than gold options. No one is interested in investing in silver. Silver could be the dark horse of next year.
One needs to trade very carefully on the last trading day of the month and first trading day of the month.

This post was published at GoldSeek on 30 November 2017.


Strongest US GDP in 2 Years Erases Week’s Gold Price Gains, Platinum ‘Oversold’ Says HSBC

Gold prices dropped on Wednesday as new data said the US economy expanded 3.3% per year between July and September, its fastest pace since 2014.
Falling from its 6th attempt above $1296 so far this week, the gold price lost $10 per ounce against a rising US Dollar while silver and platinum fell sharper still.
Broader commodity prices slipped for the second day running as major government bond prices fell, edging the yield offered by 10-year US Treasury debt up to 1-week highs above 2.35%.
North Korea’s overnight missile test – reported by the dictatorship of Kim Jong-un as proving Pyongyang could hit anywhere in the United States with a nuclear weapon – saw US President Donald Trump vow to “take care of it.”
But the test “appeared calculated to avoid crossing red lines that could provoke military action by Washington,” according to the Wall Street Journal.
With gold prices erasing this week’s previous 0.9% gain to the Dollar, silver fell twice as hard, hitting new November lows at $16.71 per ounce.

This post was published at FinancialSense on 11/29/2017.


Nasdaq Slammed As Japanese Media Signals North Korea “Preparing Toward Ballistic Missile Launch”

Japanese government detecting signal from #NorthKorea on preparation towards a ballistic missile launch according to local media
— michiyo ishida (@MichiyoCNA) November 27, 2017

Update: While the initial reaction to the headlinews were muted, once the story hit Bloomberg wires, USDJPY snapped lower and gold jumped…
And as USDJPY fades, so stocks drop (S&P and Nasdaq now red)…

This post was published at Zero Hedge on Nov 27, 2017.