Peak gold believers will be pleased to learn that South Africa’s gold reserves are dwindling. About 95% of the reserves have been unearthed and discovered already in Witwatersrand, the biggest gold field in the world, meaning gold is probably going to head higher as investors freak out over limited supply: Mineweb: Gold production from the [...]
Infamous wave theorist Martin Armstrong (see this New Yorker profile for background) sees gold going to $5,000 plus. His first line is a doozy, and it sets his tone: Gold has been among the most hated subjects by the socialists, because with each dollar that it advances, it reveals the delusion that they seek to [...]
From the Peter Schiff Blog: H/T Trading Wall Street Investments “Well, the gold standard works. What we have now does not. Our founding fathers put us on a gold standard for a good reason, because paper currency existed around that time. It had existed in the past. And they were familiar with how miserably it [...]
After hitting our first upside target of $1,110 two days ago, gold prices backed off but still managed to close at their best levels today for a new record high close in New York basis the spot gold. The question now is, what’s going to happen to gold after it hit our first target level? [...]
By Ambrose Evans-Pritchard, International Business Editor Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years [...]
by Jeff Clark, Senior Editor, Casey’s Gold & Resource Report “There’s no doubt in my mind that we’ll have a mania in gold. And because the gold and especially silver markets are so tiny, the rush into them will be like trying to push the contents of Hoover Dam through a garden hose. Our positions [...]
Courtesy of Jesse’s Café Américain Dr. Willem Buiter of the London School of Economics, and advisor to the Bank of England, has written a somewhat astonishing broadsheet attacking of all things, gold. I have enjoyed his writing in the past. And although he does tend to cultivate and relish the aura of eccentric maverick, it [...]
Michael Patterson (Bloomberg) — Stocks rose, sending the benchmark index for emerging markets to its biggest six-day rally since July, and commodities gained after China’s industrial production and Japan’s machinery orders climbed. Gold advanced to a record. The MSCI Emerging Markets Index added 1.2 percent at 8:42 a.m. in New York, boosting its six-day increase [...]
As Rosie dedicates more and more attention to gold, his latest piece demonstrates why the melt up in gold will make the surreal “lift each and every offer” move in stocks seem like child’s play. Another reason to be bullish on gold is the recurring trade spats. Indeed, this is good news for the commodity [...]
Zero Hedge The melt up in stocks on no volume was fully expected after the worst possible employment news to come in over 20 years: the market-economy disconnect is now complete, and all stocks are freeriding purely on Bernanke’s printing press. At least gold vigilantes are beginning to whisper in Bernanke’s ear he can go [...]