Spot Chart | Jesse's Café Américain: Gold Daily and Silver Weekly Charts - How ... | News2Gold

Spot Chart | Jesse&#39;s Café Américain: <b>Gold</b> Daily and Silver Weekly <b>Charts</b> - How <b>...</b> | News2Gold

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Jesse&#39;s Café Américain: <b>Gold</b> Daily and Silver Weekly <b>Charts</b> - How <b>...</b> Posted: 16 May 2014 01:39 PM PDT "The London Gold Pool was the pooling of gold reserves by a group of eight central banks in the United States and seven European countries that agreed on 1 November 1961 to cooperate in maintaining the Bretton Woods System of fixed-rate convertible currencies and defending a gold price of US$35 per troy ounce by interventions in the London gold market. The central banks coordinated concerted methods of gold sales to balance spikes in the market price of gold as determined by the London morning gold fixing while buying gold on price weaknesses. The United States provided 50% of the required gold supply for sale. The price controls were successful for six years until the system became no longer workable. The pegged price of gold was too low and runs on gold, the British pound, and the US dollar occurred and France decided to withdraw from the pool. The London Gold Pool collapsed in March 1968. The London Gold Pool controls were followed with an effort to suppress the gold price with a two-tier system of official exchange and open market transactions, but this gold window collapsed in 1971 with the Nixon Shock, and resulted in the onset of the gold bull market which saw the price of gold appreciate rapidly to US$850 in 1980." Wikipedia, The London Gold Pool The first chart below this evening compares the year to date performance of the SP 500, the NDX, the Russell 2000, and Gold. If you have not noticed, gold and silver have been 'pegged' just below 1300 and 20 respectively. Someone asked me 'why these particular levels' the other day. I would hope the reason why they are capping the metals in the first place would be fairly self explanatory by now.   Who are 'they?'  Some of the Western central banks have obviously formed a 'gold pool' through which they are attempting to manage the relationships of a number of currencies and economic factors affecting global trade, including the natural money of gold and silver.  This is not my opinion.  Central Banks hold gold in their reserves, despite what some monetary theorists might otherwise say.  The Banks understand the long history of money, in its ebb and flow. As you may recall, Phase I of the current Gold Pool ended with the collapse of the Washington Agreement,  which was an attempt to prop up a failing arrangement often called Bretton Woods II.  This failure became unmistakable with the change in the central bank behavior towards gold, from net sellers to net buyers, with the revolt of the BRICs.  We are in Phase II now, which is a loose confederation of Western banks being led by the Fed and the Bank of England who are attempting to maintain the status quo and US Dollar hegemony. But the Western banks are running a bit of a con game with the Dollar, as it has already lasted well beyond its prime. You really cannot based global economics on a piece of paper that one country creates at will for its own domestic and foreign policy conveniences. Not unless you are willing to sacrifice your own autonomy. Its a similar thing to the reason why the euro must eventually fail, because it is a single currency across a non-cohesive political union.  It is clear that China and Russia and parts of the Mideast are not on board with the Pool, and India is struggling against its own people.  The US is flexing its muscles, but that sort of thing tends to become unsustainably expensive, even for those who own a printing press, but do not own the printing press. The Fed and its crony central banks are clearly in a bit of a panic, and they are attempting to hold the line in the metals, while they try and manage the unfolding set of economic crises which they have created, and which are hardly resolved.  They have sold the world for their Banks, and now must now sit down to a banquet of consequences, which they are loathe to do.  They will throw institution after institution to the wolves before that if they are able. The Gold Pool would like to strike a lower level, but as we have seen that is a bit problematic, because the vaults of the West were being emptied fairly steadily, and the miners will be having even more trouble staying in business at lower prices.  And there remains a stubborn demand for the metals from the peoples of the Mideast and Asia, despite the efforts of the neo-liberals to bring them to heel. I cannot predict exactly when this current cartel will fail, as the London Gold Pool fell when France withdrew for example.  It is hard to predict an exogenous decision or shock.   But there are no lack of guesses.  Guessing is not a practical investment strategy, but it works in selling advice. We will most likely see quite a cat fight amongst Zurich, Frankfurt, Shanghai and London for the next phase of the gold trading market.  The foundations for Phase III, in which gold starts to trade more freely, have already been laid.  And of course New York may attempt to rule the new gold trade, on the basis that possession is nine-tenths of the law.  That ought to go over like a lead balloon with those nations whose sovereign metals are held hostage. "As a reaction to the temporary closure of the London gold market in March 1968 and the resulting instability of the gold markets and the financial systems in general, Swiss banks acted immediately to minimize effects on the Swiss banking system and its currency by establishing a gold trading organization, the Zürich Gold Pool, which helped in establishing Zürich as a major trading location for gold." When did the NY Fed say that they might be inclined to return Germany's gold?  That bit of whimsy may provide us with an outer bound for a resolution of phase II of the currency war. Although the Fed is most likely being unrealistic as usual in their forecasting. Perhaps we may see some better hints of it through the fog of deception as the time approaches.   But it seems likely that when the new gold pool starts to crumble, the price levels may move with a bit of a bang. Have a pleasant weekend.

Interactive <b>gold</b> price <b>chart</b> | <b>Gold</b> Market Price | World <b>Gold</b> Council Posted: 14 Mar 2014 05:11 AM PDT Notes The gold prices used in this interactive chart are supplied by BullionDesk. This price is quoted in US dollars. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit using the foreign exchange rate at the time (or as close to as possible). For example, the London PM fix on 30th October 2013 was USD 1,354.75 and the price for one USD was EUR 0.726. The gold price in euro (EUR) would therefore be calculated as €984.10.1 Like all prices, the gold price reflects not only the inherent value of gold, but also the relative strength of the currency in which it is quoted. For example, the dollar price of gold may increase more in percentage terms than the sterling price of gold, to the extent that the change in price is a reflection of dollar weakness (in this case, against the euro) rather than an intrinsic change in gold market fundamentals. For this reason, our Investment Gold market statistics contain charts showing an index of the gold price in US dollars and local currency units as well as the relevant US dollar / local currency unit exchange rate for countries other than the United States. Public holidays in different countries do not always coincide and therefore the time series that are downloaded from our data providers may contain missing values for trading days in other countries. The approach taken in this regard is to replace the missing value with the most recent value. 1 You may not be able to replicate this calculation due to rounding. Interactive chart help This interactive chart provides price data in several currencies, frequencies and weight units. The first price series selected will be displayed in currency units on the primary vertical axis (left). The second series added will be displayed in currency units on the secondary vertical axis (right). Thereafter, price series will be zero-indexed to the first displayed date with the axis values displayed as cumulative % changes. Currencies: USD = US dollar GBP = pound sterling EUR = euro AUD = Australian dollar CAD = Canadian dollar CHF = Swiss franc JPY = Japanese yen ZAR = South African rand INR = Indian rupee CNY = Chinese renmimbi HKD = Hong Kong dollar MXN = Mexican peso Weights: Oz = 1 troy ounce Grammes = 0.032151 troy ounces Kg = 32.150747 troy ounces Tonnes = 32,150,7466 troy ounces Tael = 1.203370 troy ounces Tola = 0.374878 troy ounces Data frequency Optimised data at the following frequencies: Between now and 5 years ago - daily 5 years ago and 15 years ago - weekly 15 years ago and 25 years ago - monthly more than 25 years ago - quarterly Quarterly Monthly Weekly Daily, please note loading daily data will slow down the chart system.

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