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Russia Sets A New Record For Gold Buys
Hot on the heels of their 24 tonne August, news is out today that Russia added another 48 tonnes in October. That’s a new all-time high for one country in one month. A stronger
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India Gold Rumors: Huge Selloff Coming?
Over the weekend news reports picked up on rumors that India may ban imports of gold. Indian Prime Minister Modi recently announced that 500 and 1000 rupee notes be banned, leading to long lines
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Is Gold About To Plunge?
Here at The Gold Enthusiast we focus on trading first, explanations second, speculations last. Lots to look at today so let’s get right to it. Trading will be the main focus today. US Fed
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Sign of the Apocalypse in the Gold Market?
Folks looking for signs of the apocalypse had a moment yesterday as UBS announced the closure of open gold counters in 3 major locations. Conspiracy theorists would say this is the beginning (or continuation)
Read More »Giant Gold Fund GLD Shrinks Fastest Since 2013
In the wake of the US elections the world’s the biggest gold ETF shrunk 3%. George Soros announced last week that he sold his holdings before the election, possibly leading to a chain reaction
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Gold Still Tied to US Dollar
As readers of The Gold Enthusiast know, the price of gold in the USA is closely related to the value of the US Dollar in the currency market. Much of the recent plunge in
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GLD and NUGT Plunge – Should You Worry?
In the aftermath of the US elections, precious metals plunged Wednesday through Friday. As I write this – before market open on Monday – gold looks to be trying to find support at 1210 per oz. Which is translating
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Gold Drops Below 200 Day Moving Average
After this very eventful week, let’s slow down and take a purely technical look at what’s happened to the price of gold. Following a big pop up on Wednesday, gold quickly fell back and closed
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Gold Swings, Settles Back Into Groove
Gold trading took a wild ride yesterday following Trump’s win. The generally-unexpected result in the US presidential election qualified as a “geopolitical event”, meaning something that affects international conditions. Certainly Trump’s campaign platform included
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Gold After The US Election
As expected, gold jumped after Donald Trump was declared the winner of the US presidential election. But was the move significant? The Gold Enthusiast thinks not. We will continue to say “the charts don’t
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