investment

Slump in gold price releases years of pent-up retail demand

"Gold retailers struggled to cope this week as parents buying dowries, casual shoppers and tourists snapped up bars, coins, nuggets and jewellery as a slump in the price of the yellow metal released years of pent-up retail demand. The price decline in the past week, the steepest in 30 years, has tarnished gold's appeal for the portfolio investors whose money had fuelled a 12-year bull run. As investors rush out, consumers that were priced out of the market for years have rushed in. In the United States, sales of American Eagle gold for two days this week topped the volumes for the whole of March." Continue reading →

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Gold Crash 2013 – Deliberately Engineered?

"Traders will be looking for a significant turnaround to the upside in price before entering long positions. However, a long-term, fundamentals-based trader has to look at the low price as a buying opportunity. I can't prove it, but I think the fundamentals will drive the long-term market more than these short-term events. The fight between pricing from the physical market for bullion and that from the 'paper market' of futures is showing signs of discrimination and disagreement, as the physical market is booming, while prices set by futures are seemingly pressured to go nowhere. In short, I think this is a strong buying opportunity." Continue reading →

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Obama Has a New 401(k) – Yours

"The total value of U.S. private pensions stands around $18 trillion, more than 25% of that in IRAs — no coincidence that figure is not far from the fast-growing U.S national debt, currently at $16.8 trillion. As our nation’s debt is projected to skyrocket to a mind-boggling $35 trillion by 2025, you can bet Washington politicians are eyeballing this mountain of pension cash. One way to protect your IRA or other retirement plans is to move your plan out of the jurisdiction of the United States and locate your assets and their management offshore, or start a new plan offshore." Continue reading →

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US Mint’s Sales of Gold Coins Soar After Futures Prices Plunge

"The U.S. Mint in April has sold 153,000 ounces of American Eagle gold coins, the highest in almost three years, after futures prices started the week by plunging the most since 1980, moneynews.com reports. Sales have more than doubled from March and surged sevenfold from a year earlier, data on the Mint’s website showed. The amount for all of May 2010 was 190,000 ounce. This week, retail sales and jewelry demand soared in India, the world’s top gold buyer, and China, the second-biggest, after futures in New York slumped into a bear market, touching the lowest in more than two years. Coin sales also surged in Australia." Continue reading →

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Gold Down, What Now?

"Generally, after a stark price correction like this, you will tend to see a prompt rally, followed by another bout of weakness, testing the prior bottom. This should play out over the next few weeks, which will pave the way for an excellent entry or re-entry point to stock up on gold. It is important to note that, in my view, you can wait and watch gold calmly. There is no need to rush (back) in. Gold negativity is very high and it will take time to pick up momentum. But you should certainly not wait too long. Fundamentally, all of the reasons that made gold an ever more attractive asset over the past years are still fully in place, and increasingly so." Continue reading →

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Gold’s Black Market?

"Have investors really lost faith? We read that gold demand in Asia and India remains very strong and informal reports from gold buyers (for physical gold) seem to indicate that it is difficult to buy gold at any price. Silver, not much better. One explanation for this would be that the paper market and the physical market are diverging. The paper market, according to those who see this crash as manipulated, is easy to push down. The physical market might reject these manipulations were it a mark-to-market operation. But it is not. The physical price of gold is apparently fixed twice a day by a consortium of wise men." Continue reading →

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E-commerce in China: The Alibaba phenomenon

"On its way to becoming the world’s biggest economy, China is passing another landmark. Its e-commerce market is overtaking America’s. And one giant firm dominates the market: Alibaba, by some measures already the world’s largest e-commerce company. Last year two of Alibaba’s portals together handled 1.1 trillion yuan ($170 billion) in sales, more than eBay and Amazon combined. Yet despite such extraordinary success, many people outside China have barely noticed the rise of this privately held behemoth. That is about to change. Soon, the firm is expected to announce details of its initial public offering (IPO)." Continue reading →

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CNBC: So Gold Crashed. Now What?

"These days it seems like everyone is running from gold as fast as they can. Bank of America just removed—perhaps a little late— its $2,000 price target. 'Gold capitulation: No current technical or fundamental support for gold prices,' Bank of America's headline blared. 'Even the most fierce gold bulls must be feeling sheepish after bullion tumbled its most in 30 years, raising questions about gold's value as part of an investor portfolio,' Reuters notes. You can almost smell the fear and loathing of the shiny metal. To some investors, however, the sound of the stampede is not a signal to run with the herd. It's a signal to start jogging the other way." Continue reading →

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Marijuana Stocks Are Extremely Dangerous Investments

"At this stage I do not believe there is a single reputable marijuana stock on the market. Having previously investigated several marijuana stocks, and having observed the price action and news of the major marijuana stocks over the past few months, I believe that the only people set to make a lot of money from these stocks are the company insiders and smart day-traders. Why Do Investors In Marijuana Stocks Face Enormous Risk? Because the fundamentals of the primary marijuana stocks being traded are horrible, they have extremely limited histories, and there are numerous skeletons in the closet." Continue reading →

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Huge landslide shuts down largest mine in the world in Utah

"The world's largest man-made excavation - a US copper mine - has been shut down by an enormous landslide that smashed roads and buildings and left two-thirds of the pit base buried. Nobody was hurt in the collapse at the massive open-cast Bingham Canyon Mine, run by Rio Tinto-owned Kennecott Utah Copper - largely because workers had been evacuated amid several weeks of warning signs the ground was going to shift. Kennecott is the second largest copper producer in the US, supplying about a quarter of the country's copper, the company's website states." Continue reading →

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