31 July 2014 - Russia beginning to hoard gold

31 July 2014 - Russia beginning to hoard gold
31 July 2014 - "Gold Could Go To Infinity" - Ron Paul
31 July 2014 - Gold steady as optimistic US data dents demand
31 July 2014 - 凤凰涅槃新的伦敦黄金定盘价将在年底启用

Posted: 31 Jul 2014 05:54 PM PDT

From:http://www.resourceinvestor.com/2014/07/29/russia-beginning-to-hoard-gold

BY MARK O'BYRNE

July 29, 2014

Russia continues to aggressively accumulate gold reserves. Its gold holdings increased again in June as the crisis in the Ukraine and relations with the West deteriorated.

The Russian central bank officially increased its gold holdings by 16.8 tonnes to 1,094.8 tonnes in June, the IMF's International Financial Statistics report showed. In ounce terms, Russia increased its gold holdings by some 500,000 ounces to 35.197 million ounces in June from 34.656 million ounces in May.

Russia recently became the world's fifth largest bullion holder after the United States, Germany, Italy and France.

Importantly, China's gold holdings, the world's biggest store of wealth buyer of gold, haven't been updated since March 2009 and remain at just 33.89 million ounces or 1,054.1 tonnes and just 1% of their huge foreign exchange reserves. More than five years later, it is likely China's reserves have doubled or tripled as they quietly corner the global physical gold market.

It is important to note that there remain doubts as to the integrity of the gold holdings of the U.S. and concerns that other countries national gold reserves could be encumbered, loaned or sold in the market. Indeed, the Bundesbank is having grave difficulty in having its gold reserves returned from the Federal Reserve in New York.

So far in 2014, Russia has now bought substantially more than their entire annual gold production of nearly 1,500,000 ounces.

Russia was not the only central bank to diversify foreign exchange reserves, primarily held in dollars, into gold. Allies of Russia also bought gold in June. The central banks of Kazakhstan, Kyrgyzstan and Tajikistan, all Russian economic and military allies, accumulated gold in June.

Currency wars are set to intensify and the buying by the former Soviet states is another manifestation of this.

Russia's foreign reserves fell $39 billion to $472 billion in June, data from the Russian central bank shows. Gold now accounts for 9.3% of the country's reserves, according to the World Gold Council substantially less than the percentage of gold in fx reserves of the other leading gold owners.

Greece, Serbia, Mexico and Equador also diversifed and increased their gold reserves in June.

Turkey increased its holdings to 16.491 million ounces from 16.172 million ounces in May. It accepts gold in its reserve requirements from commercial banks and as payment from other sovereign nations such as Iran.

Germany, the second-biggest gold holder, lowered its holdings by a tiny 1,000 ounces to 108.805 million ounces from 108.806 million ounces.

Gold advanced the most in four months in June as fighting in Ukraine to Iraq and Israel boosted demand for a haven. Hedge funds and banks almost doubled net-long position in gold during June, U.S. Commodity Futures Trading Commission (CFTC) data show.

Gold's safe-haven appeal is being driven by heightened tensions between Russia and the West over Ukraine and increasing concerns of financial and economic war and indeed of actual war.

Geopolitical risk in June likely prompted some central banks to further diversify their foreign exchange holdings and buy gold which is used to hedge against geopolitical, currency and credit risks.

Central banks continue to be buyers of gold at these attractive price levels. As sanctions, economic war and currency wars intensify we expect Russian and Russian ally buying of gold reserves and selling of dollars to intensify. Aggressive buying of gold and particularly silver by Russia will likely lead to defaults on the COMEX gold and silver futures exchanges and potentially an international monetary crisis.

Source:http://www.resourceinvestor.com/2014/07/29/russia-beginning-to-hoard-gold

31 July 2014 - "Gold Could Go To Infinity" - Ron Paul

Posted: 31 Jul 2014 05:52 PM PDT

From:http://www.zerohedge.com/news/2014-07-30/gold-could-go-infinity-ron-paul?

Submitted by GoldCore on 07/30/2014 18:58 -0400

Dr Ron Paul:

"Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it's good as long as we continues to do this <print money> , you know, it could go to infinity because when people just leave the dollar, who knows what …"

"But that won't happen if we finally wake up and do something. But if we can keep this together, if the money managers can keep it together and it doesn't collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it's up a hundred dollars for this year so…"

Jackie DeAngelis:

"It's roughly I think up 8% year-to-date. It's not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we're seeing in terms of the geopolitical situation. A lot of conflict around the world -- you'd expect gold to be higher right now."

Ron Paul:

"Yeah, but if you understand the subjective theory of value, you don't get too concerned about that because, yes, increasing the money supply weakens the dollar and a weaker dollar raises the price of gold and it's a long term measurement. But you can't measure, you can't say that the money supply went up a certain amount, and gold is going to go up, so there's a subjective element in that."

"But long term...and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency."

"But you don't, I don't get in the business of saying in a year or two or three it's going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions."

In another interview with CNBC, Dr Paul reaffirmed his view that the nation's monetary and fiscal policies would result in massive inflation. He warned of a stock market crash and of the risk that currency debasement will lead to the continuing devaluation of the dollar.

Ron Paul has long said America should "end the Fed," and he made that case once again on Tuesday.

** Record Low Gold Bar (1 oz) Premiums **

"One thing you have to do is get rid of the Fed, because of the Fed "spin" that leads to volatility in markets. Referring to the statements and spin by Federal Reserve governors, now Janet Yellen, he said that in fact it is a "very inefficient way to operate a market, to have one individual make one statement, and put so much weight on it."

"In short term, it's very, very real, because people are going to make it or break it, you know, on this interpretation. But that has nothing to do with the free market, nothing to do with building capitalism, and savings, and the things necessary to have a growing economy."

Source:http://www.zerohedge.com/news/2014-07-30/gold-could-go-infinity-ron-paul?

31 July 2014 - Gold steady as optimistic US data dents demand

Posted: 31 Jul 2014 05:50 PM PDT

From:http://www.bdlive.co.za/markets/2014/07/31/gold-steady-as-optimistic-us-data-dents-demand?

BY A ANANTHALAKSHMI, JULY 31 2014, 08:42

SINGAPORE — Gold held steady below $1,300/oz on Thursday, headed for its second monthly drop in three, as optimism over US economic growth curbed safe-haven appetite for the metal.

The Federal Reserve on Wednesday upgraded its assessment of the US economy, although it also reaffirmed that it was in no rush to raise interest rates.

Data on Wednesday also showed that the US economy has rebounded sharply, with the gross domestic product (GDP) expanding at a 4% annual rate in the second quarter, after shrinking at a revised 2.1% pace in the first.

Spot gold was flat at $1,294.45/oz by 3.03am GMT, after dropping 0.3% in the previous session. It is headed for a 2.5% drop for the month.

"If data out of the US continues to beat expectations, gold will come under further long liquidation," Swiss precious metals trader MKS Group said in a note.

"Technically, gold looks likely to continue to be range-bound with the downside looking the most vulnerable."

Gold was poised to break support at $1,292 and fall further to $1,284, as indicated by its wave pattern and a Fibonacci projection analysis, Reuters technical analyst Wang Tao said.

Investors turned their attention to US nonfarm payrolls data due on Friday, while also keeping an eye on weekly jobless claims expected later on Thursday.

US data are being watched closely by financial markets to gauge the strength of the world's largest economy and discern further clues to how the Fed may act.

Geopolitical developments were also eyed, although conflict in the Middle East and between Russian and Ukraine was having limited effect on markets on Thursday.

Israeli shelling killed at least 15 Palestinians sheltering in a United Nations (UN)-run school and another 17 near a street market on Wednesday, with no ceasefire in sight after more than three weeks of fighting.

Russia fought back over new US and European Union (EU) sanctions imposed over Ukraine even as Group of Seven (G-7) leaders warned of further steps, while Ukraine's government accused pro-Russia rebels of placing land mines near the site of a crashed Malaysian airliner to prevent a proper investigation.

Geopolitical tension often boosts gold, which is seen as an alternative investment to riskier assets such as equities.

Source:http://www.bdlive.co.za/markets/2014/07/31/gold-steady-as-optimistic-us-data-dents-demand?

31 July 2014 - 凤凰涅槃新的伦敦黄金定盘价将在年底启用

Posted: 31 Jul 2014 05:48 PM PDT

From:http://gold.hexun.com/2014-07-31/167139693.html

2014-07-31 07:48:00 来源：华尔街见闻

7月29日，伦敦黄金定盘价小组成员表示，新的伦敦黄金定盘价机制将从2014年年底启用。（更多全球财经资讯，请加微信号：wallstreetcn）

路透社报道还称，伦敦黄金定盘价公司与伦敦金银市场协会发布联合声明称，为伦敦黄金定盘价寻找新管理者的工作将于8月下旬开始，并将持续一个月。最终选择结果将于9月下旬公布。伦敦黄金定盘价和伦敦白银定盘价是现货市场的交易参考价格。

据英国《金融时报》报道，伦敦黄金定盘价公司还表示，他们已经准备好开始就新的黄金定盘价问题向相关贵金属企业征求意见。

本月，伦敦黄金定盘价的四家定价成员发表声明称，他们将把黄金定价权交给第三方。这四家成员为巴克莱、汇丰、加拿大丰业银行和法国兴业银行(601166,股吧)。此前，伦敦黄金定盘价公司决定引入新的管理人。

汤森路透集团和已经争得伦敦白银定盘价新管理者身份的CME集团均表示，有兴趣参与伦敦黄金定盘价新管理者的竞争。

类似的寻找新定价机制的过程也发生在伦敦白银定盘价市场。据路透社报道，新的解决途径可能是由经纪商组成一个电子竞拍系统，以代替现行的每日由三家银行以会议形式商讨、定价的机制。该系统将由CME集团管理。伦敦白银定盘价原定于8月15日退出历史舞台。