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Chinese Scrambling For Gold
People all over the world are hungry for physical gold, it seems. Yesterday the Chinese sent the premium for physical gold to a new 3-year high. The Gold Enthusiast has reported on this several
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Gold vs Fed Rate Hike
Next week the Fed is expected to hike the base interest rate a quarter point. In absolute terms this is tiny, but in market terms it’s big. Before 2008 the average for this rate
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Gold Accepted Into Islamic Standard Finance
This is a really big deal. The the Accounting and Auditing Organization for Islamic Financial Institutions adopted Shariah-compliant rules for trading gold. This means Islamic banks can use gold to satisfy asset requirements for
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Gold Goes The Wrong Way After Italian Referendum
Sure enough, the Italian people rejected the referendum. And like Brexit and the US presidential result, gold reacted in exact opposite to expectations. Here is the 24 hour chart of gold prices – raw
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Shanghai-London Price Difference Hits New High
A few days ago we talked about the Shanghai Gold Exchange (SGE), and how it might be a more reliable indicator of retail demand than the London or NY exchange prices. This is because
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Look Out Below! GLD Drops Through 113
Yesterday GLD dropped through the 113 support level we’ve been watching, with lots of conviction. We can look at the trading action during the day to see if it tells us anything. Here’s the
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Shanghai Gold Premium Hits Multi-Year High
How appropos. Just yesterday we wrote about the Shanghai exchange, and how we should keep an eye on the difference between prices there vs the world gold price. This difference is called the premium,
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Is The Gold Market Manipulated?
For years conspiracy theorists have said the gold market is manipulated, rigged, fixed, etc etc. There is indeed some evidence of that, most notably the refusal in 2010 by the IMF banks to sell
Read More »Gold Continues To Drop – GLD Testing 113
We’ll assume you can see through your turkey-induced food coma, and forge on with today’s look at the gold market. Trust me, it’s worth it. This week gold fell and kept on dropping. Our
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Gold Falls Below $1200 In Early US Trading
The Chinese yuan fell overnight, causing the relative value of the US Dollar to rise. Which, of course, in the chain-reaction world of international currency and gold pricing, caused gold to drop in US
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