3 September 2014 - Public Gold's Gap Allows Customers To Protect Wealth |
- 3 September 2014 - Public Gold's Gap Allows Customers To Protect Wealth
- 3 September 2014 - Gold prices gain in Asia as physical demand up after overnight fall
- 3 September 2014 - 黄金融资需求火热 中国银行业贵金属持有量飙升
- 3 September 2014 - Will Gold Still Go to $5000?
| 3 September 2014 - Public Gold's Gap Allows Customers To Protect Wealth Posted: 03 Sep 2014 03:22 AM PDT From:http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=1065387 GEORGE TOWN, Sept 2 (Bernama) -- Public Gold Group, a local physical gold trading company, has introduced a Gold Accumulation Programme (GAP) to enable customers to keep gold at a low price as a means to protect their wealth. The new programme allows customers to keep gold in a pool basis to enable them to accumulate wealth under a GAP account that is 100 per cent backed by physical gold of Au 999.9 purity and audited by an independent auditor with a waived storage fee. This peace of mind investment enables customers to invest in gold at a price as low as RM100 due to the easy and transparent mechanism. "We introduced GAP to encourage more people especially new customers to invest in gold as physical gold is by far the safest and most solid investment tool that one could consider," Public Gold Founder and Executive Chairman Datuk Louis Ng said in a statement here Tuesday. He said Public Gold is proud to be the first physical gold trading company in the region to introduce such an innovative programme offering opportunities to the public to keep gold at a minimum amount of RM100. The GAP price will be displayed live on Public Gold's official website for public viewing and customers could maximise on the value of money with conversion of weight up to four decimal points. If the customers wish to invest more than the required minimum amount, they could choose to add on a value of multiple RM50 to the minimum value of RM100 each time they place order under their GAP account. The GAP account will be accumulated until the investors decide to withdraw it in the form of physical gold or cash at any time of the day. -- BERNAMA Source:http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=1065387 |
| 3 September 2014 - Gold prices gain in Asia as physical demand up after overnight fall Posted: 03 Sep 2014 03:18 AM PDT Investing.com - Gold gained in Asia on Wednesday as investors saw opportunity after a sharp fall overnight and bought on the physical market. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,268.00 a troy ounce, UP 0.24%, after hitting an overnight session low of $1,263.20 and off a high of $1,288.60. The greenback firmed and gold fell after the Institute for Supply Management reported that its manufacturing purchasing managers' index jumped to 59.0 in August from 57.1 in July, defying analysts' calls for the index to tick down to 56.8. On the index, a reading above 50.0 indicates industry expansion, below indicates contraction. The new orders component of the index rose to 66.7, an increase of 3.3 points from 63.4 in July. The employment index grew for the fourteenth consecutive month the report said, registering 58.1, down 0.01 points from 58.2 in July. Also in the U.S., the Census Bureau reported earlier that U.S. construction spending rose to 1.8% in July from -0.9% in June, whose figure was revised up from -1.8%. Analysts had expected U.S. construction spending to rise to 1.0% last month. The numbers fueled market expectations for the Federal Reserve to wind down stimulus programs as early as next month and raise interest rates some time next year. Loose monetary policies, including rock-bottom interest rates, dovish Fed language and three rounds of asset purchases, have boosted gold prices by suppressing interest rates since the 2008 financial crisis. Silver for December delivery was up 0.50% at $19.248 a troy ounce. Copper futures for December delivery were down 0.05% at $3.157 a pound. |
| 3 September 2014 - 黄金融资需求火热 中国银行业贵金属持有量飙升 Posted: 03 Sep 2014 03:16 AM PDT From:http://finance.china.com.cn/money/nmetal/hjzx/20140903/2653718.shtml 由于贷款规则收紧致使中国银行业黄金租赁业务急速扩张，今年上半年中国大型银行持有的贵金属价值较2013年同期飙升66%。 根据银行业财务报表显示，截至第二季度末，中国工商银行、中国建设银行、中国农业银行和中国银行这四大国有银行持有的贵金属价值总计达到3780亿元人民币(620亿美元)，增长速度远远超过了同期基准黄金价格7.5%的增幅。 伴随房地产市场的下滑和不良贷款的增加，中国正在寻求通过上调借贷成本和减少对存在违约风险的行业发放贷款来控制信贷。此举促使银行纷纷增持贵金属以大力发展不受贷款规定限制的黄金租赁业务。据兴业银行称，黄金租赁被视为表外业务。 上海力鼎投资管理有限公司合伙人段世华上周五(8月29日)表示，"黄金融资过去一年出现了大幅增长。从银行的统计数据中可以清楚看出，中国有很多企业目前依然无法获得足够的融资。" 兴业银行高级分析师蒋舒在接受采访时称，"银行所持贵金属资产的价值是根据期末最后一天上海黄金交易所的报价计算得出的，其所持有的贵金属大部分是黄金。" 世界黄金协会(WGC)近期公布的数据显示，今年中国黄金融资贷款规模达到约1445公吨，以7月30日的国际基准金价计算，总价值较去年同期增长55%。 7月30日上海黄金交易所的99金价格在261.86美元/克，而去年同期为243.50元/克。周二(9月2日)该基准现货合约价格为252.80美元/克。 根据财报，上半年中国工商银行持有的贵金属总价值几乎翻番，达到910亿人民币，约合347公吨黄金，去年同期约158公吨;中国建设银行持有的贵金属总价值达510亿人民币，约合194公吨黄金，去年同期约138公吨;中国农业银行持有的贵金属总价值达210亿人民币，约合81公吨黄金，去年同期约70公吨;中国银行持有的贵金属总价值达2150亿人民币，约合823公吨黄金，去年同期570公吨。 此前据6月的报道，中国审计署曾发现25家黄金加工企业虚构贸易背景，向银行骗取贷款累计944亿元人民币(152亿美元)，贸易融资中可能存在欺诈的迹象进一步显现。 根据中国审计署在其网站发布的报告，这25家企业利用贷款套取汇差和利差9亿多元人民币。中国是全球最大的黄金生产国和消费国。 中国公安机关还在对青岛港仓单重复质押骗贷事件进行调查。根据世界黄金协会截至2013年的估计数据，中国的贸易融资可能已经多达1000吨黄金。贸易融资指的是在政府限制贷款之际利用金属和农产品等商品获取信贷的行为。 Source:http://finance.china.com.cn/money/nmetal/hjzx/20140903/2653718.shtml |
| 3 September 2014 - Will Gold Still Go to $5000? Posted: 03 Sep 2014 03:12 AM PDT From:http://armstrongeconomics.com/2014/09/02/will-gold-still-go-to-5000/ Yes – to answer a lot of questions. We still see the future rally in gold reaching the $5,000 level. Keep in mind this requires an asset rally. Those who tout the German Hyperinflation omit the fact that ALL tangible assets rose not only gold and the replacement currency people accepted was backed by real estate not gold. So the rally in gold will be part of an asset rally – not gold by itself, which has never taken place even once in history. The current special report on the metals provides the targets and the timing for the high in gold and silver with the projections in price and time for the low prior to the rally. As for those who insist gold in money, let me make this point very clear. Money is ONLY a medium of exchange it has NEVER been a store of value for money has NEVER retained a specific buying power from one day to the next EVER! I understand people hate me for saying this for they just have to cling to their myths and theories to justify their losses. Some people cannot admit they are wrong and those are typically the people who cannot trade and why most people who try to trade lose money. This argument that gold is money has been around since the late 19th century. It was the battle between the Silver Democrats and the Conservatives. The governments starting with Germany dropped silver as money. The USA followed and the silver promoters called it the Crime of 1873. This was a return to a gold standard only. It was then argued that a gold standard created deflation so they wanted to create inflation like Europe right now to pump-up the economy. This was instigated by the silver miners (promoters) who needed government to buy their production. This led to the flood of silver dollars that drove gold out of circulation. This became Gresham's Law – bad money drives out good. This was the result of the silver miners promoting that silver should be raised in value relative to gold. The US foolishly then tried to force the rest of the world to adopt their silver/gold ratio. But instead, the silver poured into the USA and the Europeans took home gold since the Americans were overvaluing silver. The US was on the verge of bankruptcy in 1896 flooded with silver as the gold migrated to Europe. This Crisis led to the Presidential Election and William Jennings Bryan's famous speech – thou shalt not crucify mankind on a cross of gold. The Wizard of Oz was written as a political satire portraying the gold standard as oppressive and deflationary. The tin man was industry, the scarecrow was agriculture, and the cowardly lion was Bryan. They were off to see the Wizard who was Congress to complain about the unemployment following the yellow-brick road symbolizing the gold standard. silver-tax-5So these arguments are very old and the debate between austerity (gold standard) and inflation has never ended, albeit the gold promoters keep up the same stories regardless of the facts. They have turned from silver to paper money assuming that it is now paper money rather than a flood of silver dollars that is the great evil. Silver became rehabilitated after it was freed in the 1960s with the collapse of the silver standard. After that, the tax on silver imposed in 1934 was abandoned. This idea of returning to a gold standard is still argued more than 100 years later with nothing new to add to the debate. A return to the gold standard would create deflation and high unemployment for it would introduced austerity. If a gold standard were truly implemented it would shrink the money supply and economic growth would decline as we see in Europe with these same ideas of austerity. Europe is now being forced into massive inflation because of the austerity policies they did not understand. The problem with gold that turns off the MAJORITY of investors has been these wild stories. They sit well with the die-hard goldbugs, but they fail to convert the masses and thus will not increase the buying power of the advocates. Unfortunately, I can find no such historical support for that idea that gold is either a store of value different from anything else that fluctuates in value or exclusively money when the majority of society disagrees and that is all that counts. The business cycle cannot be defeated – even Paul Volcker admitted that much. Governments are moving to electronic money and will never return to a gold standard. That is reality. Gold standards have been attempted countess times but have always failed because there is a business cycle that cannot be manipulated. I have warned that if society implodes too far, we end up with the Mad Max outcome. What is that? It is where the only medium of exchange becomes food – not even gold. It is returning the cycle to its beginning. Money began as food (cattle), moved to sheep skins for clothing, then to bronze that was cast in large ingots the shape of the medium of exchange it was replacing – sheep skins. The four pointed edges were the legs. Neither silver nor gold served as money. They were both luxury items and that has NEVER provided a medium of exchange until the basics are in place. So if we are headed into a Mad Max event, sorry, stockpile food. Gold ONLY became a medium of exchange when it became common. For thousands of years Gold was restricted for the use of kings. It did not circulate as money. We find kings buried with gold from Philip II of Macedon to the Pharaohs of Egypt. Agamemnon's gold death mask has survived. Gold was not some inherent form of money from day one. Its value increased only as a function of DEMAND – people liked it. That was all. As gold became more common, it then migrated down to the aristocrats in the form of jewelry. Only with the discovery of gold in Turkey in vast quantities did it finally emerge as a medium of exchange based solely upon agreement by the people who saw it as desirable. That means DEMAND. It was something only kings could afford. The same thing took place with PURPLE dye that was restricted to only Roman Emperors. That is what the term refers to saying someone assumed the PURPLE. In the Catholic Church, the vestments during lent are still PURPLE symbolizing that Christ is King. During the Middle Ages as trade was resurfacing, the bankers were called "Peppermen" because the spice pepper was MORE valuable than gold by weight. This reflects the entire issue. The medium of exchange depends ENTIRELY upon demand. Money is what people find desirable at that moment. An example of this is looking at the fine art of Rubens. The women he painted were always robust – not the model type of today. Why? A skinny woman was a poor woman. If she was rich she had weight to her. In Russia, having decayed teeth was a show of wealth for you could afford sugar. This insistence that only gold is money has no foundation in history. They are distorting history to fit a predetermined agenda they do not even understand. This idea that if money is tangible then there will be no inflation is without any support in history whatsoever. Spain was the richest country in Europe after bringing back all the gold from America which created massive inflation throughout Europe. Like Bretton Woods, it did not prevent the collapse of Spain, which thanks to becoming a serial defaulter successfully converted itself from the richest nation to the third world pauper status. Spain became a serial defaulter on its government debt starting in 1557 followed by 1570, 1575, 1596, 1607, and 1647 ending in a 3rd world status. By the end, nobody would lend them anything. They destroyed the Italian banks and then wiped out all the German bankers. Only a fool buys government debt. Gold did not save Spain nor did the gold standard postwar world with Bretton Woods! Why? BECAUSE IT DOES NOT MATTER WHAT THE MONEY IS – THE PROBLEM IS FISCAL MISMANAGEMENT OF GOVERNMENT. Returning to a gold standard will NOT make politicians honest. Sorry – we need real reform for that one and that does NOT center upon what we use as money. This should be about making money – not supporting a predetermined idea because that is what someone would like to see happen. No matter what evidence is presented, there are those who will refuse to believe anything other than what they want to believe. That is life. They have to learn the hard way. Source:http://armstrongeconomics.com/2014/09/02/will-gold-still-go-to-5000/ |
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