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POSTED ON January 23, 2015  - POSTED IN Key Gold Headlines

As of this morning, gold is up more than 10% and silver is up more than 16% since the beginning of the year. Gold stocks have also been strong, especially in the mining sector. While the S&P 500 has dropped about 1%, the Arca Gold Miners Index is up nearly 25%. Unsurprisingly, the mainstream financial media is starting to jump on the gold bandwagon.

15 01 23 WSJ metals chart

In an article on the front page of its business section, The Wall Street Journal looks at all the factors influencing bullish sentiment for precious metals thus far in 2015. These include:

POSTED ON January 22, 2015  - POSTED IN Key Gold Headlines

The European Central Bank (ECB) will begin a new quantitative easing (QE) program in March. The central bank announced this morning that it would buy at least 1.1 trillion euros worth of euro-denominated bonds from governments and private institutions across Europe. It will begin its monetary manipulation at the rate of €60 billion a month, which will last into the fall of 2016. If you’ve got a few minutes to waste, you can watch ECB President Mario Draghi deliver the news himself:

Like Janet Yellen, Draghi uses the bogus excuse of low inflation as one of the primary justifications for the program. This renewed commitment to creating European inflation boosted to gold, pushing it over $1,300.

POSTED ON January 22, 2015  - POSTED IN Interviews, Videos

Peter Schiff appeared on CNBC World earlier this week, continuing his crusade of warning the financial media that central bank money printing is ultimately going to be a disaster for the economy. He also commented on President Obama’s hopes of raising capital gains and inheritance taxes. Peter slammed the president for his fundamental lack of understanding of how to responsibly grow an economy.

POSTED ON January 21, 2015  - POSTED IN Interviews, Videos

Marc Faber appeared on CNBC’s Futures Now yesterday to encourage investors to get into gold. His reasons are the same as Peter Schiff’s – 2015 could be the year that the markets lose confidence in central banks’ ability to artificially prop up the economy. In fact, he strongly believes that gold could rise 30% this year.

At 1:58, the interview gets uncomfortable when Faber calls out the financial advisors and CNBC specifically. The anchor goes quiet and quickly ends the interview when Faber remarks bluntly that the financial sector would love it – Main Street be damned – if Yellen printed way more money:

It is clear to me that the financial sector – including CNBC – loves central banks, because by printing money, they lift stocks… I also get higher fees from rising stocks… Yellen should print twenty times more money… Then stocks will go up and it will impoverish the population.”

POSTED ON January 21, 2015  - POSTED IN Original Analysis, Videos

Peter Schiff uses his latest podcast to dig into the fundamentals of gold production in Canada and the United States. He also explains why mainstream analysts are completely clueless when it comes to understanding how the Chinese yuan is affected by its peg to the dollar. He wraps up by looking at the terrible condition of US student loan debt, and the government policies that empower college students to make terrible career decisions.

POSTED ON January 20, 2015  - POSTED IN Key Gold Headlines

The German central bank (Bundesbank) repatriated 120 metric tons of gold in 2014. 85 of those tons came from the New York Federal Reserve, which held nearly half of Germany’s gold at the time. This is in sharp contrast to repatriating just 37 tons in 2013 – only 5 of which came from New York. It would appear that Germany is quite serious about getting its gold back after all.

At the beginning of 2013, the Bundesbank announced that it would begin the process of repatriating massive amounts of its physical gold reserves back into Germany. The goal is to have half of its gold back in Germany by 2020. Currently, nearly 65% of its reserves are stored in the New York Federal Reserve, the Bank of England in London, and in the Banque de France in Paris. New York alone holds almost 43% of Germany’s gold:

15-01-20-total-buba-reserves

POSTED ON January 20, 2015  - POSTED IN Guest Commentaries, Interviews, Videos

Jeff Clark of Casey Research spoke with Vanessa Colette at the Vancouver Resource Investment conference hosted by Cambridge House International. Clark explained that gold has been performing exactly as it should in the past year by rising in the price of foreign currencies that have been experiencing inflation and economic trouble. Clark emphasized that there has never been a better time in history to own gold. On top of that, he reminds us that someday the East is going to take charge of the gold trade, and they’ll do that at much higher prices than we’re seeing now.

POSTED ON January 20, 2015  - POSTED IN Key Gold Headlines

Precious metals naysayers often fail to keep a global perspective on the economics behind gold and silver. This past week has been a stark reminder that gold is an international asset whose real, fundamental value cannot be found in US dollar terms alone. When the Swiss franc’s peg to the euro was dropped, gold surged against global currencies.

A Kitco commentary by Frank Holmes featuring a variety of currency charts makes the point succinctly. First, here’s gold in euros. Gold is up 14.3% in the past month against the euro. It’s moved nearly 6% since Switzerland decided to abandon the euro.

15 01 20 Gold in euros

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