Blog Archives

Palladium Breaks Multi-Year High Over $900; Russian SWIFT Payment Ban Proposed By UK

Russia is the world’s largest palladium producer accounting for over 40% of global production. This is mainly through Norilsk Nickel, the world’s largest mining company which mines nickel, copper and palladium in the area of Norilsk in Siberia, the world’s most northerly city. Palladium is mined as a by-product of nickel and copper mining.

Diplomatic fallout from the conflict in Ukraine continues to intensify. Amid claims and counter-claims by the Russian and Ukrainian sides concerning the fighting and incursions in Eastern Ukraine, the war of words has stepped up. Russian President Vladimir Putin was quoted as saying last Friday that “I want to remind you that Russia is one of the most powerful nuclear nations. This is a reality, not just words.” While visiting EU leaders in Brussels at the weekend, Ukrainian President Petro Poroshenko said “we are very close to the point of no return, which is full scale war.”

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“Central Banks Should Give Money Directly To The People” – Gold Bullish CFR Proposal

Were this extreme CFR policy to be implemented it would be a further and deliberate debasement of currency. Alan Greenspan’s warning of “fiat money in extremis” becomes more real by the day. There is a real risk of significant inflation and stagflation – even hyperinflation in a worst case scenario.

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Bank Of Canada Holds Swiss, Dutch, Swedish Gold As Swiss Repatriation Referendum Looms

In the same way that it is important for nations to have outright, unencumbered ownership of their gold, it is vitally important for individuals to do so. GoldCore continue to advise owning allocated and segregated physical coins and bars in Hong Kong, Singapore and Zurich. See our Essential Guide To Gold Storage In Singapore here.
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Gold Shines Most in September on Seasonal Buys: Bloomberg Chart of Day

Gold Shines Most in September on Seasonal Buys: Bloomberg Chart of Day


BLOOMBERG CHART OF THE DAY – September Sees 3% Gains Over 20 Years

Gold investors hurting from prices within 1% of a two-month low can find solace from the historical record and research and showing gold performs best in September.

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CME Halt Electronic Gold and Silver Futures Trading Due to “Technical Glitch”

The nature of the “technical issues” were not disclosed. Some analysts have warned that cyber war could see hackers, possibly state sponsored, attempt to disable and take down financial markets and exchanges as a form of financial warfare.

Security experts say China, Russia, the U.S. and other states are adept at and becoming more sophisticated at cyber espionage and warfare.

There is no speculation that this technical glitch was cyber terrorism or war. However, it underlines the risk posed to financial markets and hence the importance of owning physical bullion coins and bars. (more…)

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Mafia Boss Says Stocks A Bubble, Buy Physical Gold and Silver

Mafia Boss Says Stocks A Bubble, Buy Physical Gold and Silver

Michael Franzese, the former powerful mafia boss turned motivational speaker and author, warned on CNBC that stocks are a bubble, Wall Street is crooked and advised people to own physical gold and silver bars. (more…)

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Peak Gold? Russia To Surpass Australia As World No 2 Gold Producer

 

Russian central bank acquired another 390,000,000 ounces worth $3.9 billion in July
Gold and silver have fallen below the $1,300/oz and $20/oz levels respectively. Gold traded marginally lower in trade in London after gold in Singapore also ticked marginally lower. (more…)

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Shanghai Becoming Global Gold Hub And Gold Price Discovery Centre

China is moving closer to positioning itself as the physical gold trading hub of the world and the world’s gold price discovery centre. It is a natural progression for the largest economy in the world and for the world’s largest gold buyer, importer and indeed producer.

Gold Bust (2.8 Kilogramme) of Deng Xiaoping (Reuters/Bobby Yip) (more…)

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New ‘LBMA Silver Price’ – Still Not Transparent

The Gold Anti Trust Action Committee (GATA) and those concerned about price manipulation will allege that the LBMA and the western bullion banks are engaged in a rebranding and repackaging exercise in order to maintain a cosy gold and silver cartel of bullion banks and ultimately control over precious metal prices. (more…)

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Gold Not a Safe Haven? Tell That to the Folk in Ukraine, South America, Middle East and Africa

This is especially the case in Ukraine where the currency has lost more than half of its value versus gold (see chart above and below). Gold in Ukraine Hrvynia is up 70% since the start of 2014. People who own gold in Ukraine would laugh at you, if you said that gold is not a safe haven. As would people in many countries in South America, the Middle East and Africa.

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Confusion Prior To New “London Silver Price” Launch This Friday

Interestingly, the FT also reports that there may be significant buying of silver in the coming days: “Indeed, there are already rumours in the market place that some big silver producers and consumers are preparing to pepper the market with orders.” This creates the possibility of the short squeeze that many market participants and silver analysts have been expecting for some time.

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U.S. Bail-Ins – Fed Vice Chair Fischer Says “Preparing A Proposal”

Federal Reserve Vice Chairman Stanley Fischer delivered his first speech on the U.S. and global economy in Stockholm, Sweden yesterday. Fischer headed Israel’s central bank from 2005 through 2013 and is now number two at the Federal Reserve in the U.S. after Janet Yellen. Fischer’s comments that the U.S. is “preparing a proposal” for bail-ins is at odds with Federal Deposit Insurance Corporation (FDIC) and Bank of England officials who have said that bail-in legislation could be used today.

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