Precious metals news

China rejects NY pricing of gold as a fraud as NY/Shanghai spread soars to $20...

as of Nov 29th, the U.S. Mint Gold Eagle sales reached a new high for the year of 127,500 oz. Then another stunning 20,000 oz in one day for a total of 147,500 Gold Eagle oz for November:

Watch the stock market and financial banking system collapse live. Real-time Gold and Silver price comparison from the London Bullion Market and Shanghai Gold Exchange.

Here are today's videos and charts (double click to enlarge):

today another trader ponied up & threw his hat into the bottom-calling ring in the form of 25,000 GLD March 125 calls.

As all experience from the past clearly demonstrates, it is a mistake to believe that the gold price is set solely by dollar interest rates, or its relative strength in other currencies. This being the case, the current weakness of the gold price is simply a reflection of temporary dollar shortages, and nothing more.

Let’s start by stating the obvious: There’s only so much gold in the ground, and people have been mining it since approximately 4700 BC. At some point, the Earth will have given all it has to give. And after 7,000 years of mining we’ve just about reached that point.

The spot gold price today (Friday) is higher in morning trading, which is a reprieve from the losses the precious metal saw throughout the month of November...

The ratio of the two also continues to favor gold on the long term chart

Trump has pegged the next US Treasurer, Steven Mnuchin, who’s already begun making bold statements about tax cuts and revamping Fannie Mae and Freddie Mac. Italy may hold the keys to a European market crisis and Bernanke tells the Fed to keep their economic predictions to themselves. This much and more in this week’s Fed Up Friday.
Steven Mnuchin will be the Treasury Secretary, and in his first televised interview following the announcement, he dug in on many of the statements Trump has said in the past; the main issue being tax reform. In addition to cutting corporate taxes by 20%, Trump also looks to give middle-class Americans an income tax cut. But plans to cut to government revenue are hardly a panacea if it’s missing one important ingredient. Peter Schiff explains:
“People are talking about these tax cuts and saying maybe the consumer is going to have some extra money. It’s not going to offset these higher costs that are weighing down the economy … The only way you can...

Eric Sprott Breaks Down Today's Jobs Report & MAJOR MOVES In Bonds, Interest Rates, Gold, & Silver. Sprott Warns If Modi Bans Gold, India Will MASSIVELY Turn to Silver, Sending […]

Hat Trick Letter Editor Jim Willie joins JB Wells and is uncharistically enthusiastic about America's future after Donald Trump swept the fascists out of power, but warns the birth-pains of the […]

The idea that Trump's economic growth plan will pressure gold is shortsighted...

Taken Off the Shanghai Gold Exchange In One Day The top of the chart is cumulative, the bottom portion is the daily volume. Yesterday was easily the biggest day of this year for physic...

Important for a thorough understanding of the Chinese domestic gold market – the largest physical gold market globally – is the local Value-added Tax (VAT) system:

Australian investment bank Macquarie estimated that 78% of India’s household savings were held in gold.

Italians might end up saying, “Caio,” to their country’s recent economic resurgence this weekend, but they won’t be saying, “Buona sera,” to the Eurozone.

If Italy votes no in the referendum and then turns against Brussels & the euro, it might well spell the end of the EU.

There are already plenty of problems. The “Car Recession” is now expected to spread to 2017

The latest apocalypse du jour, following in the footsteps of Brexit and the Donald Trump election, is Italy’s Constitutional referendum that takes place this weekend.