This post was published at Kitco NEWS
98,750,067,000,000 Reasons to Buy Gold in 2018
– World equity index market capitalization touching distance of $100 trillion dollars at beginning of December
– Key indicators across global financial markets are looking decidedly bubble-like
– Little indication that we are through the worst of the financial crisis that started in 2007
– Apparent lack of concern regarding the over-heated and overpriced markets
– Since financial crisis gold has climbed nearly 124% in EUR, 190% in GBP and 98% in USD
– Goldcore’s latest podcast covers gold’s role in 2018 in the land of bubbles
Earlier this week Yahoo! published ‘2017: The year the financial crisis officially ended’. In it the author points to record-high stocks and cryptocurrency surges as some of the key indicators that the latest financial crisis is tightly wrapped up and now destined for the history books.
Sadly we don’t agree. Neither does Bloomberg. At the start of the month two Bloomberg journalists explained why they were ‘worried about 2018’. In simple terms – there are so many bubbles on the horizon its not worth stopping to count them.
This post was published at Gold Core on December 28, 2017.
South Africa’s ruling African National Congress gushed a double whammy of capital-flight-creating rulings this afternoon. The Rand is tumbling on Bloomberg headlines that the ANC is said to seek constitutional changes for land expropriation (from whites) without compensation, but perhaps even more worrisome, the ruling party has decided that the Reserve Bank must be wholly owned by the state:
SOUTH AFRICA’S ANC ECONOMIC COMMITTEE CHAIR GODONGWANA SPEAKS S. AFRICA ANC SEEKS CONSTITUTION CHANGES FOR LAND EXPROPRIATION S. AFRICA’S ANC SAYS LAND EXPROPRIATION MUSTN’T HURT ECONOMY S. AFRICA’S ANC SAID TO DECIDE CENTRAL BANK MUST BE STATE-OWNED
This post was published at Zero Hedge on Dec 20, 2017.
The best performing precious metal for the week was palladium, up 1.71 percent. Automobile replacement was up due to water damaged cars post hurricane season. Catalytic converters containing palladium will enter the recycling phase. A Bloomberg survey of gold traders shows most are bullish on the yellow metal after the Federal Reserve raised rates earlier in the week. This is in part due to gold advancing for the first time in four weeks as the Fed stuck to its projection of three hikes in 2018, writes Ranjeetha Pakiam of Bloomberg. The European Central Bank left its policy rate unchanged, leading Bloomberg Intelligence analyst Mike McGlone to suggest that relative value and mean reversion might lead to gold outperforming bitcoin and the U. S. dollar. Gold counter-intuitively rallied the last five times the Fed raised interest rates, leading some to believe gold has no reason not to rally again. Pure Gold Mining Inc. announced the addition of mineral resources to two of its mines in Ontario. The estimate includes an additional 96,000 ounces of indicated resources and 118,000 ounces of inferred resources. CEO and President of the company, Darin Labrenz, said the addition has ‘strong potential to positively impact project economics.” Weaknesses
The worst performing precious metal for the week was platinum, up just 0.57 percent post the rate hike but not out of favor completely as Sibanye Gold made an all-share takeout offer for Lonmin which has been on the ropes for several years now. The Democratic Republic of Congo changed its mining code again with details still emerging. The last time the nation changed its code it resulted in increased royalties, tax rates, minimum unpaid share of new mining projects and now, for large projects, 10 percent of a mine’s shares must be owned by a Congolese investor.
This post was published at GoldSeek on Monday, 18 December 2017.
Indians are buying silver.
India ranks as the second largest gold consumer in the world, behind only China, but Indians also have an appetite for the white metal. After a drop in silver demand last year, Indians are once again buying.
According to Bloomberg, India has imported around 5,500 tons of silver this year, and imports could grow to around 6,000 tons in 2018. That compares with a four-year low of just 3,000 tons in 2016.
We saw signs of resurgence in the Indian silver market in the fall. According to the Economic Times, silver demand was up 15% during this Dhanteras and Diwali festival season on increased purchases of coins, idols, and silverware. Analysts attributed the surge in silver buying to lack of consumer confidence in the economy and silver’s relatively low price.
This post was published at Schiffgold on DECEMBER 15, 2017.
Cameron and Tyler Winklevoss, thought to be the world’s first confirmed bitcoin billionaires, said, during a Bloomberg TV interview this morning that the advent of futures is just the beginning of a phase of greater acceptance for the cryptocurrency that is often derided as a bubble.
“We think it’s the starting gun to a whole new phase of liquidity and price discovery and sophisticated entrance to the market.”
As a reminder, the Winklevoss twins are co-founders of the Gemini exchange, which Cboe Global Markets Inc. is using as the basis for the daily settlement for the bitcoin futures that began trading this week.
This post was published at Zero Hedge on Dec 12, 2017.