Precious Metals

Doug Casey: “We’re Still In The Midst Of The Biggest Bubble In World History”

"We’re still in the midst of the biggest bubble in world history. It’s bigger than the tech stock market bubble around the turn of the century. It’s bigger than the real estate bubble…[it's] the bond bubble. With interest rates ranging from zero to a few percent—this is the biggest bubble in history and when it collapses, it’s going to be catastrophic because the bond market is so huge. It’s much bigger than the stock market is. [..] We’re pretty close to the edge of the precipice…it’s fascinating to watch but I can’t be optimistic about the next few years…[but] that doesn’t mean the world is going to come to an end—It just means it’s going to be reorganized.” Continue reading →

Continue ReadingDoug Casey: “We’re Still In The Midst Of The Biggest Bubble In World History”

India’s recycled Gold supply may hit 300 tons in 2013

"'Jewellers will need more gold to manufacture jewellery, as imports have been heavily restricted. If I sell today and (am) not in a position to replenish my stocks, then I'll have a problem and then I'll have to source gold from somewhere else,' said Bachhraj Bamalwa, director of the All India Gems and Jewellery Trade Federation, in a interview with Reuters. With the Rupee crashing to new all-time lows on the currency market, however, gold prices are near record highs for Indian households. Indian government has doubled taxes on bullion imports this year to shrink a ballooning trade deficit and end a slide in the rupee. Gold is the country’s second largest import after oil." Continue reading →

Continue ReadingIndia’s recycled Gold supply may hit 300 tons in 2013

Dubai’s gold trade waits on India windfall

"UAE’s gold and jewellery trade aims to be a direct beneficiary as India imposes further controls on domestic consumption of the metal in all its forms. But the spin-off for local jewellers will not be confined to tapping demand from Indian shoppers who want to make use of the growing price differential. 'We have heard reports about new controls on gold purchases in Pakistan and higher taxes elsewhere in south-east Asia, all of which significantly raises the attractiveness of buying jewellery here and then taking it back to their home countries,' said Shamlal Ahmad, director of international operations at Malabar Gold and Diamonds." Continue reading →

Continue ReadingDubai’s gold trade waits on India windfall

India mulls leasing of IMF-bought gold

"The Indian government is deliberating whether or not to lease the 200 tonnes of gold it bought from the International Monetary Fund in the international market to earn dollars. The Reserve Bank of India (RBI) purchased the gold from the IMF for an estimated price of around $6.70 billion in 2009, and under the IMF’s limited gold sales programme. 'The deal was misinterpreted by many at that time, that it could further inflate the gold price. [..] India’s purchase of gold was a reserve management strategy,'' a banking official told Mineweb. He added that globally, central banks were showing an increased interest in diversifying their holdings, to protect against a slumping dollar." Continue reading →

Continue ReadingIndia mulls leasing of IMF-bought gold

Will the new gold iPhone lead to an unexpected windfall for Apple in China and India?

"Amid all the head-scratching about the apparently confirmed (but not by Apple) rumor of a forthcoming gold iPhone, one observation has come up again and again: It’s likely to be quite popular in China and India. In China, '[N]othing trumps gold as a symbol of wealth and privilege,' Simon Cousins, CEO of China-focused PR company Illuminant told Gizmodo. All Things D, among others, has reported that the gold coating would be an option on the iPhone 5S. Gold is also extremely popular in India." Continue reading →

Continue ReadingWill the new gold iPhone lead to an unexpected windfall for Apple in China and India?

China Gold-Mine Deals at Record After Price Plunge

"Acquisitions by China’s gold mining companies reached a record this year as the metal’s steepest quarterly drop in more than nine decades slashes mine values and sidelines Western competitors laden with debt. Takeovers and asset purchases by producers based in China and Hong Kong rose to a record $2.24 billion this year, beating last year’s record $1.96 billion, according to data compiled by Bloomberg. China’s government has urged national gold producers to boost development of overseas resources in neighboring countries and in Africa and Latin America, according to its 12th Five-Year Plan which ends in 2015." Continue reading →

Continue ReadingChina Gold-Mine Deals at Record After Price Plunge

Fund manager Ned Goodman ditches bank stocks for gold

"Ned Goodman, founder and chief executive officer of holding company Dundee Corp., shed the last of his bank shares after forecasting global inflation will make investments such as gold stocks and organic beef more rewarding. Goodman, who oversees about C$10 billion ($9.6 billion) for Dundee and its investments in real estate, precious metals, energy and infrastructure, sold the last of the company’s Bank of Nova Scotia shares earlier this quarter. With the U.S. Federal Reserve and other central banks printing money, it’s only a matter of time before currencies lose value and inflation rises, Goodman said." Continue reading →

Continue ReadingFund manager Ned Goodman ditches bank stocks for gold

Are commodity prices about to explode?

"Prices in financial markets are determined by psychology, by what people think stocks, bonds and commodities are worth rather than what they actually are worth. Recent sentiment readings for some key commodities, such as copper, gold, sugar, wheat, cattle, etc., were at extreme levels of negativity. From a contrarian aspect of course, that's very bullish. We see a similar pattern in many, but not all commodities in respect to commitment of traders, where knowledgeable commercials are comfortably long. On the other hand, speculators, who as a group usually guess incorrectly at turning points, are taking the other side of the trade with bearish bets." Continue reading →

Continue ReadingAre commodity prices about to explode?

A Solar System Is Installed in the US Every 4 Minutes

"If market growth continues at its current pace, the American solar industry could be installing a system every minute and twenty seconds by 2016. That's a dramatic difference from 2006, when installers were only putting up one system every 80 minutes. Solar is on an extraordinarily fast growth trajectory. Two-thirds of all distributed solar in the U.S. has been installed over the last 2 1/2 years. And by 2016, cumulative installations of distributed PV will double. That means the U.S. will hit 1 million cumulative residential solar installations by then -- making the market in 2016 ten times larger than it was in 2010." Continue reading →

Continue ReadingA Solar System Is Installed in the US Every 4 Minutes

Rob McEwen Interview: On Gold Prices, Gold Miners And Bitcoin

"I don’t see why Bitcoin can’t also grow and become another viable currency, an internet based currency. If enough people accept it, it will be used. It seems to have momentum behind it and it’s intriguing how it’s truly separate from any country or central banks’ manipulation and control. There will be growing pains, like the guy who lost money out of his electronic wallet because he left his computer on all night. Also, Bitcoin will spawn competitors, alternative digital currencies. I think it’s a mistake to write off this currency as a bubble or fad. Will it threaten gold? I don’t think so. I think the two will grow in tandem as alternative currencies to fiat currencies." Continue reading →

Continue ReadingRob McEwen Interview: On Gold Prices, Gold Miners And Bitcoin