News 2 Gold

Gold Price, Gold Chart, buy gold bullion, Gold Daily, Gold History, gold news, gold price today, How to Invest in Gold Invest in Gold, Monotary System, Silver news, Silver prices, Spot Gold, Tips for buying gold and silver, to sell as scrap

Buying Gold | Currency Wars Intensify As Russia Buys 18.6 Tonnes Of Gold In June | News2Gold

Buying Gold | Currency Wars Intensify As Russia <b>Buys</b> 18.6 Tonnes Of <b>Gold</b> In June | News2Gold


Currency Wars Intensify As Russia <b>Buys</b> 18.6 Tonnes Of <b>Gold</b> In June

Posted: 29 Jul 2014 01:59 PM PDT

Today's AM fix was USD 1,307.50, EUR 972.84 and GBP 770.39  per ounce.

Yesterday's AM fix was USD 1,305.00, EUR 971.20 and GBP 768.55 per ounce.

Gold climbed $2.30 or 0.18% yesterday to $1,305.10/oz and silver rose $0.12 or 0.58% to $20.62/oz.





Gold rose 0.4% in London this morning after gold in Singapore traded sideways overnight. Futures trading volume continues to increase and was almost double the average for the past 100 days for this time of day, Bloomberg data shows.


Gold in U.S. Dollars - 50, 100, 200  Simple Moving Averages (Thomson Reuters)

Silver for immediate delivery rose 0.8%  to $20.73 an ounce in London. Platinum was 0.1% lower at $1,486.82 an ounce. Palladium gained 0.3% to $883.63/oz and remains close to a 13 year nominal high of $889.75.

Geopolitical tension in Europe and in the Middle East is supporting gold. Israel's military pounded targets in the Gaza Strip on Tuesday after Prime Minister Benjamin Netanyahu said his country should prepare for a long conflict in the Palestinian enclave, squashing any hopes of a swift end to 22 days of fighting.

Gaza residents reported heavy Israeli bombing in Gaza City. Israeli aircraft fired a missile at the house of a Hamas Gaza leader and flattened it before dawn. An Israeli military spokeswoman said 70 targets were struck in Gaza through the night. At least 30 people were killed in the assaults from air, land and sea, residents said, after a night of the most widespread attacks so far in the tiny enclave.


The new sanctions are set to inflame relations further. They are on "key sectors" of Russia's economy, U.S. Deputy National Security Adviser Tony Blinken said yesterday. Russia also signaled possible retaliation, announcing yesterday that it may ban imports of chicken from the U.S. and fruit from Europe because of concern about contamination.

Futures options expiration is over but we are not out of the woods yet and gold and silver could see more volatility this week ahead of key reports on gross domestic product on Wednesday and employment data on Friday. The Federal Reserve's chief policy making committee meets today and tomorrow and this could have another short term impact on prices.

Russia, Kazakhstan, Kyrgyzstan and Tajikistan Buy Gold - Bye Bye Petrodollar
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 that China's reserves have doubled or trebled 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 all 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.

Reserve Currencies In History - Dollar's Demise Cometh

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.

See important guide to Currency Wars here Currency Wars: Bye, Bye Petrodollar - Buy, Buy Gold

Your rating: None Average: 3.5 (14 votes)

Next <b>Gold Buying</b> Opportunity May Be Just Around the Corner

Posted: 29 Jul 2014 06:31 AM PDT

By: John Kosar of Street Authority

Major U.S. indices closed mixed last week, with the broad-market SP 500 and tech-heavy Nasdaq 100 closing higher and the blue-chip Dow industrials and small-cap Russell 2000 closing lower. The bigger takeaway to last week's lack of direction is that the bellwether SP 500 has been moving sideways for the past month and is essentially unchanged since July 1.

This recent loss of upward momentum suggests some distribution/profit-taking has been occurring and defines a near-term decision point in the index, bordered by 1,986 on the upside and 1,953 on the downside, from which its 2014 advance must resume if still healthy and intact.

Small Caps, Volatility Will Be Key Again This Week
In the July 14 and July 21 Market Outlooks, I pointed out that the Russell 2000 and the Vanguard Small Cap Growth ETF (NYSE: VBK) were situated right on top of major support levels and amid favorable conditions to resume their 2014 advances -- if they were still valid. Following initial rebounds, Friday's sharp decline positioned both back on top of these levels -- 1,143 on the Russell 2000 and $121.53 on VBK.

A key determining factor of whether these support levels hold is investor fear, and one way to measure it on a daily basis is via the CBOE Volatility Index (VIX). The VIX has been hovering on both sides of its 50-day moving average, which I use as a baseline to determine investor fear and complacency, since early July.

This means investors have been alternating between fear and complacency for the past month, which is precisely the indecision that has kept the SP 500 in a tight sideways range. In the June 9 Market Outlook, I noted that sustained rises in the VIX above its 50-day moving average, from an extreme low of below 12, have historically coincided with meaningful declines in the SP 500.

Therefore, I would view a sustained rise this week above the VIX's 50-day moving average, currently situated at 11.78, accompanied by a decline below the aforementioned major support levels in the Russell 2000 and VBK, as an indication that an overdue corrective decline is emerging in the broader U.S. market.

Gold Still Has Second-Half Potential
In the July 7 report, I highlighted the rise in SPDR Gold Shares (NYSE: GLD) on expanding investor assets, saying: "Think of these assets as 'trend fuel' -- as long as they continue to expand, gold prices and GLD are likely to continue rising."

The chart shows daily assets in GLD contracted at the end of last week, back below their one-month moving average, which warns of their vulnerability to a near-term decline similar to those that took place in October 2013 and in mid-March of this year.

However, I am currently viewing the recent weakness in gold as just a temporary decline within what appears to be a larger basing process.

The next chart plots the Market Vectors Gold Miners ETF (NYSE: GDX), which is positively correlated to GLD. An inverse head-and-shoulders pattern was confirmed by the July 9 breakout above the declining trendline from the August 2013 high.

The pattern targets a 31% rise to $35 that will remain valid as long as the ETF's 200-day moving average, currently situated at $24.10, loosely contains as underlying support. Therefore, I would view a rising GDX, on expanding daily assets in GLD, as a new buying opportunity in either ETF.

the 2014 advance in the bellwether SP 500 has stalled over the past month while the small-cap Russell 2000, which tends to lead the market both higher and lower, is struggling to remain above major support. I would view a meaningful decline below 1,143 this week, on a sustained rise above 11.78 in the VIX, as evidence that an overdue stock market correction may be emerging. Should this occur, it is likely to trigger a shift into more defensive assets like gold.

In the past year, Street Authority recommendations on individual stocks have gained +72%, +26% and +60% all in less than six months... and recently, their trades could have made you +26% in 42 days and +42% in less than one month. Click here to get the free trading advisory -- Trade of the Week.

Article source: http://www.streetauthority.com/node/30470950

Concern at not <b>buying gold</b> land | Otago Daily Times Online News <b>...</b>

Posted: 22 Jul 2014 10:29 AM PDT

Cade Thornton.

Cade Thornton.

The Cardrona community has been ''really let down'' by the Queenstown Lakes District Council, which failed in its bid to buy abandoned sections in the village, a local publican says.

Cardrona Hotel co-owner Cade Thornton's views were echoed by developer Kathy Brooke-Lynne, after the Public Trust confirmed the sale of five abandoned goldmining sections across from the hotel which had been earmarked for a village green by the council.

The council's tender to buy the land from the Public Trust, which could not trace the original owners, was unsuccessful and the sites were sold to Wanaka developer Lane Hocking, who owns two farms in the Cardrona Valley.

Mr Thornton, who also put in a tender on the car park sections, conceded the council had done all it could to buy the land for the community during the tender process, but more could have been done before that stage, he believed.

''I think that they [the council] should have been far more proactive in designating it [the land] car park a long time ago and I think the whole community feels really let down.

''If they didn't have enough money I'd have happily put money in to up their bid. They never came to me and had a discussion ... they should have come to us.''

Ms Brooke-Lynne, who owns the land between the car park sections and the Cardrona River, was ''really disappointed'' the council was unable to secure the land for the community.

''We've been waiting on the Public Trust to sort out those titles for several years on the understanding that the council would purchase them once them once they were available ... nothing could be developed with certainty when you didn't know what would be in front of it.''

However, Ms Brooke-Lynne said she had a good working relationship with Mr Hocking, who had been ''extremely helpful and supportive as a landowner'' on other community projects.

''And I believe that whatever he does there will be good for Cardrona and in keeping with the Cardrona character guidelines.''

Mr Hocking told the Otago Daily Times yesterday he had no immediate plans for the land.

''I believe in Cardrona long-term and having a bit of land there doesn't hurt ... I like the area. It's nice and if it ultimately grows and we can help with that then all the better.''

Deputy mayor Lyal Cocks said the council was disappointed it had missed out on the sections, but other land options for the village green would be considered.

''There's quite a few sections up for sale in Cardrona, so we'll just have a look at the structure plan, talk to the community association and see where we put our efforts to secure what the community needs ... there may be some better options.''

Mr Thornton believed the council's other options were limited.

''They won't want to pay the money that they're asking for these other sections ... So if they don't have the money to buy the car park they'll never have the money to buy anything else.''

Wellington-based Public Trust consultant Paul Browne advised the ODT yesterday three of the remaining four unclaimed Cardrona sections, the ones on either side of the hotel, had sold.

Mr Thornton confirmed the hotel bought the properties for future business expansion.

lucy.ibbotson@odt.co.nz

How Not to Get Robbed <b>Buying Gold</b> Bars or Rare Coins <b>...</b>

Posted: 22 Jul 2014 05:30 AM PDT

James DiGeorgia

My first time around with Weiss Research was more than 20 years ago as the editor of the Silver & Gold Report (SGR).

I loved writing that investment newsletter, and it fueled a passion in me to become an advocate for individuals looking to safely buy and sell bullion.

Besides making recommendations in precious metals and mining stocks, SGR price-shopped a dozen national dealers for the best prices and exposed those who were dirty-rotten scoundrels.

Back then, there was a great deal of repugnant dealer-dishonesty. I wrote some of the stories that lead to the arrest and conviction of several men who did great financial harm to investors.

In addition, many of my feature articles in SGR exposed abusive dealer practices that weren't necessarily criminal, but did cost investors big bucks they never should have paid.

My biggest prediction of the year

Although I expect this to be another year of gold's staggering profit run, I've found a new opportunity that could spike even higher because it's triggered by Big Government Spending. Get all the details here …

Internal Sponsorship

Those articles did not help my popularity among the dealer community. My research and my word processor ended a long-term friendship or two with some who make (and, in some cases, once made) their living in the rare coin industry.

Since then, things have improved, by not much.

Gold Buyer Beware

These days, scams are essentially the same and yet the recklessness might even be greater. I was recently reminded about the dangers recently when I learned about the devastating losses — estimated at approximately $40 million — suffered by investors who were doing business with a recently closed California company.

My goal today is to help steer you away from making a bad decision when it comes time to choose your dealer.

Many in the industry believed The Tulving Company in Newport Beach, Calif., to be one of the highest-volume precious metals' dealers in the United States.

That is, until it recently filed for bankruptcy protection.

The Secret Service has launched an investigation into the company for failing to fulfill as much as $14 million in customer orders.

At this point, it is NOT clear if there was any criminality, but as I have advised dealers in the past…

"If you ever find yourself in financial trouble, STOP. Don't pretend you will be making up losses and will eventually catch up. When you start spending other people's money, you can't personally make good on it. STOP doing business."

However, Hannes Tulving didn't stop doing business.

Denial kept the doors open months longer than they should have been.

In fact, as long ago as the early 1990s, the Federal Trade Commission accused the company of overpricing its coins and failing to uphold its return policy.

The cacophony of complaints about non-delivery, delays in delivery, and delays in payment for product steadily climbed.

Then, the doors shuttered.

A $1 Company Worth $2 Trillion?

This tiny firm could double by September … and then continue soaring, potentially handing early investors a gain of 3,548% within the next 12 months.

Now, I'm not trying to blow sunshine up your you-know-what. I personally flew out to speak with some of the top experts about this deposit in person.

I even wrangled one of the executives from this company into a meeting to get the truth and nothing but the truth.

I hope my efforts were not in vain. I've made my research available to view, for free. Just click this link to access my presentation now.

Internal Sponsorship

Tulving reportedly owes up to 50 creditors as much as $10 million, and the owner seems to have gone into hiding.

$40M … Gone *Poof*!

All told, more than $40 million in customer funds is reportedly at stake.

I wouldn't be surprised if it were revealed that a considerable amount of the $40 million was gold, silver and platinum.

The clients entrusted The Tulving Company for its safety and security. However, regardless of the reason, it amounts to $40 million going … poof!

This precious metals and rare coin dealer should have shut down sooner. Instead, the number of victims wound up being larger and its financial damage greater.

This is an example of what happens when you entrust rare coins or bullion to the custody of a dealer after you have bought them from the dealer.

Fortunately …

There are far more honest dealers than there are incompetents or criminals.

You can find a reputable dealer. Regardless of whom you do business with, the No. 1 rule when buying rare coins and bullion is…

  • NEVER, EVER store your precious metals and rare coins with any dealer, after you have bought from them. Get a safety deposit box and store your possession.

Here are some other rules:

  • ONLY do mail business via the U.S. Post Office. Whether it is sending payment for any rare coin you BUY or if you are SELLING precious metals and rare coins, be sure to use certified U.S. mail only!

Buying insurance can add to your peace of mind, too. An astute subscriber also recommended taking photos of the contents of any box you ship, if you're the seller.

After all, most law enforcement agencies do not have the staffing or mandate to try to nip potential frauds in the butt. They only come in long after investors are looted.

By that time, they offer little help to investors in recovering their monies.

U.S. Postal Inspectors are the most aggressive, but they are often excluded from helping with a developing fraud because dealers know that using FedEx (or similar private companies) keeps them out of the Postal Inspectors' jurisdiction.

  • Fancy websites or four-color brochures are no substitutes for looking up a firm's Better Business Bureau (BBB) rating.
  • If you haven't received delivery, do not let the dealer get away with telling you that there is a shipping delay. A problem with delivery, especially 30 days after payment, is a huge RED FLAG!
  • I have flown out to surprise a few dealers in their offices or stores when I didn't get paid or didn't receive the precious metals or rare coins I paid for because, like a kidnapping — the longer you wait to retrieve the money, the more chances the disappearance is going to be permanent.
  • Be mindful when a dealer doesn't return your calls or they double-talk to you to explain why a transaction hasn't been fulfilled.

If they can take your money, then they can promptly answer their phone and deliver your bullion. No exceptions.

  • Avoid precious metals' brokerage firms that feed you into a bullpen of heat merchants. Try to buy and sell with a dealer who makes markets in the precious metals you like most (e.g., Gold American Eagles, Silver Rounds, Pandas, etc.). Make sure you see their prices.
  • Check eBay (EBAY) to see if the dealer markets rare coins and bullion products there. Look for eBay dealers who have been with the company many years, show large numbers and have virtually no complaints.
  • Always start with a modest purchase. That will introduce you to how the company fulfills orders and how fast they do it, as you gradually get comfortable with doing business with the dealer. In the case of Tulving, some clients spent as much as six figures on coins and are still waiting for something to show for it.
  • Don't focus on the lowest price; focus on finding the safest dealer. There is no such thing as a free lunch. Take it from me: It's better to pay an A+ or A-rated dealer — who has been in continuous business for years and charges a few percentage points more to make sure your precious metals and rare coins reach you — than to pay a bargain price and never see delivery.

I'm a big fan of getting a good deal when it comes to buying stocks, options and ETFs. But when it comes to bullion, I believe in getting a fair price. And if that means paying a few cents more to deal with a top-notch professional who can deliver coins/bars in a timely manner (or pay promptly when he or she is the one doing the buying), it's worthwhile. After all, investing in your investments can yield the greatest return of all, in the form of peace of mind.

Watching Your Chickens,
James DiGeorgia

James DiGeorgia is a natural resources expert and editor of Global Resource Hunter, a monthly newsletter designed to help you ride the commodity supercycle – an ongoing surge in price of food, energy, metals and more.

James is also the editor of Junior Resource Millionaire, a weekly service that aims to help you rack up profits on trades with explosive potential in the precious metals, base metals, agriculture and energy industries.

Axel Merk <b>buying gold</b> to protect against market headwinds <b>...</b>

Posted: 23 Jul 2014 11:27 PM PDT

Posted on 24 July 2014 with no comments from readers

Axel Merk, President and chief investment officer of Merk Investments, says investors are not acknowledging the risks in markets, which is dangerous with 'significant headwinds' due soon.

He explains why his funds are buying gold and currencies to protect against the complacency in markets that he's found the best guide to a coming fall in the past…

Is <b>buying gold</b> still profitable? - Outside View by PersonalFN

Posted: 25 Jul 2014 05:00 PM PDT

 
Is buying gold still profitable?

We all know gold is an important asset. However, following latest developments, one might be wondering if buying gold is really profitable now. Indian government is in no mood to lift the import restrictions imposed last year. Importing gold in India is costly. Due to gold import restrictions, gold enjoy premium in India. In simple terms, even after adjusting for currency differences, gold is costlier in India than in international market. Going one step forward, newer policies of government have made buying gold even less attractive.

Latest developments

  • In Budget 2014-15, long term capital gain tax on non-equity mutual funds was hiked from 10% to 20%. Also, the holding period for calculation of long term capital gains has been extended to 36 months, from the earlier 12 months. This is expected to impact the post-tax returns generated from gold savings funds and gold Exchange Traded Funds (ETFs), if held for less than 3 years. This change is applicable from 10th July 2014.
  • As per new law applicable to companies, jewellery companies can稚 run gold deposit schemes if they are offering in excess of 12% returns to depositors. Furthermore, Jewellers can稚 collect deposits greater than 25% of company痴 net worth. Now buying gold in smaller installments through jewellers would also be less attractive.
PersonalFN believes recent policy changes may make buying gold unattractive. Having said this, you shouldn稚 forget that, gold is not bought for earning maximum returns. Rather, it is bought as a portfolio diversifier. PersonalFN firmly believes having optimum asset allocation is important. While you prepare asset mix for yourself, you must consider your risk appetite and time horizon. Chasing an asset for earning maximum returns is speculation and should be avoided. PersonalFN recommends its investors to have 10% to 15% exposure to gold.

Should you still buy gold?

PersonalFN is of the view that, even after considering recent policy changes, buying gold ETFs or gold savings funds remains the most desirable option. After all gold ETFs and gold saving funds are among best options to accumulate gold. If you buy gold in physical form, you must always ensure that it remains in good state. Considering high insurance cost for physical gold, you may look to buy gold in paper form. Moreover gold ETFs ensure purity. Despite the long term capital gain tax rate on Gold ETFs has been doubled, real impact on your gains wouldn稚 be as big as you may imagine. While calculating your profit for taxation purpose you can claim indexation benefit. Indexation benefit helps you adjust your purchase price upwards for inflation. Not a bad deal. This article has been authored by PersonalFN, a Mumbai based Financial Planning and Mutual Fund Research Firm known for offering unbiased and honest opinion on investing.

PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

 
 
 
Equitymaster requests your view! Post a comment on "Is buying gold still profitable?". Click here!
Thank you for posting your view on Equitymaster!

Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.

In the meantime, you may want to share this article with your friends!

Post another comment

1 Responses to "Is buying gold still profitable?"
Learner
Jul 26, 2014
Why not invest in Silver ? Like 
  
Equitymaster requests your view! Post a comment on "Is buying gold still profitable?". Click here!
Thank you for posting your view on Equitymaster!

Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.

In the meantime, you may want to share this article with your friends!

Post another comment

 
More Views on News
MOST POPULAR
 

Related Post

0 Comment for "Buying Gold | Currency Wars Intensify As Russia Buys 18.6 Tonnes Of Gold In June | News2Gold"

 
Copyright © 2015 News 2 Gold - All Rights Reserved
Template By Catatan Info