Yearly Archives: 2013

Indian gold imports set to resume after 4-week halt as export rule clarified

"A resumption of imports would ease tight domestic supply and prices ahead of a festival and wedding season that kicks off next month. Indian imports would also support benchmark international gold prices, which hit a two-month high on Monday. The confusion centred on a rule that required importers to re-export at least 20 percent of all imports, known as the 80/20 rule. Last week, the Reserve Bank issued detailed guidelines on how the rule would work, but the complexity of the rule had prevented banks from importing immediately. Banks are the main importing agencies for gold into India." Continue reading →

Continue ReadingIndian gold imports set to resume after 4-week halt as export rule clarified

LA Businessman Shoots Five Robbers Dead in Four Separate Incidents

"Five robbers made bad decisions. They decided to rob this man’s watch repair shop. They came in armed. They went out feet first. Yet the end of the story is sad. The gangs vowed revenge. He closed his store. He no longer has walk-in customers. Los Angeles is gang-ridden. The social breakdown in this welfare state is obvious to victims. Self-government is declining in a society where the state funds irresponsibility in the name of compassion. Today, California has eleven bills in the legislature to make gun ownership more difficult. The gangs favor these bills. It makes their work so much safer." Continue reading →

Continue ReadingLA Businessman Shoots Five Robbers Dead in Four Separate Incidents

Asians Buy Gold. Westerners Sell It.

"American investors did not buy physical gold, but instead bought ETFs — promises to pay money, not gold — because commissions were lower than coins. But the commodities futures organizations are now facing the lowest inventories of deliverable gold ever. If the owners of contracts for future deliveries — 'longs' — start taking delivery, the exchanges will have to deliver digital dollars instead. Westerners like George Soros and John Paulson have been selling their paper gold positions. Asians are taking delivery of physical gold. You can’t make jewelry out of digits. Who is selling physical gold? No one in the industry knows." Continue reading →

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Federal Reserve Issues a Toothless Report on the Big Banks

"Yesterday, the FED issued a report on the lack of capital — too much leverage — of America’s largest banks. In its evaluation, the Federal Reserve found that firms needed to improve a number of aspects of their capital planning processes, including their accounting for risks most relevant to the specific business activities, their methods of projecting the effect of certain stresses on their capital needs, and their governance of the capital planning processes. The banks 'need to improve on a number of issues'? They do? And if they don’t, what will the FED do about it? It will issue another report." Continue reading →

Continue ReadingFederal Reserve Issues a Toothless Report on the Big Banks

Farming Experts Predict Food Safety Laws Will Destroy Local Foods Trend

"The most wonderful aspect of going local with your diet, is the opportunity to meet pioneers of organic, sustainable agriculture. There is tremendous work being done by farmers like Mike Tabor. Yet, a gross lack of understanding by public interest groups on what really constitutes food safety has led to increasing federal control over our food supply. Now, the FDA is dictating farming practices, packaging and sterilization steps that threaten to choke out small producers. Here is what two farmers have to say about these food safety laws and this ominous regulatory trend." Continue reading →

Continue ReadingFarming Experts Predict Food Safety Laws Will Destroy Local Foods Trend

PBS: Do Innocent Citizens Risk Police Seizure of Their Property?

"Property seizure is a profitable practice for local law enforcement agencies, long used to deprive mobsters and drug kingpins. But the police can also take personal goods away from citizens who haven't been proven guilty of a crime. Ray Suarez talks to Sarah Stillman who investigated civil forfeiture for The New Yorker." Continue reading →

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Consumer demand for gold jumps 53%

"According to WGC there is renewed interest in gold due to its falling prices, which has brought total purchases of gold jewellery, bar and coins to 1,083.2 metric tons. Jewellery demand reached its highest level in 5 years, increasing by 37% to 576 tonnes. Chinese demand was up 54% compared to the same period last year, while India bought 51% more gold ornaments than in 2012. Bar and coin investment surged by a significant 78% across the world and topped 500 tonnes in a quarter for the first time. The WGC statistics come on the heels of India’s recent measures to curb gold purchases because it is the most costly non-essential item that the country imports." Continue reading →

Continue ReadingConsumer demand for gold jumps 53%

Playing The Surge In Precious Metals, II

"The top buys in the PM sector in my view are SAND, ABX, Goldcorp (GG), Yamana Gold (AUY), TAHO, SILJ and SLW. The top performer since the June 26 bottom has been FNV, a gold and energy royalty company with no debt and $900 million cash and equivalents. They can fund distressed miners and then sell their inexpensive gold into a rising market. They have excellent management and are a top pick. and should be strong going forward, as should Eldorado Gold (EGO) which has producing sites in Turkey and China and sites nearing production in Greece and Romania. Like them, SSRI and IAG remain good choices to buy on a dip with limit orders." Continue reading →

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Funds Build Bullish Positions In Precious Metals Futures, Options

"A price rally inspired speculators to build bullish positions in precious metals futures and options traded on the Comex division of New York Mercantile Exchange and the Nymex, confirming many market participants’ expectations that speculators shed short positions when prices rose. The gains in the data released Friday by the Commodity Futures Trading Commission came via a mix of short covering, that is buying back of previously sold positions, and newly added long positions as noted in both the disaggregated and legacy reports. In copper, speculators sheared short positions, and [..] turned net-long for the first time since February." Continue reading →

Continue ReadingFunds Build Bullish Positions In Precious Metals Futures, Options