Tuesday, 30 June 2015

RBC's George Gero: Why Is Gold Not Reacting To Greece?

"There may be too many bears in the woods for gold says George Gero, a gold market veteran and vice president and precious metals strategist for RBC Capital Markets. Gold market bulls are disappointed the metal gained only slightly Monday, as the Greek debt crisis continues to unravel and produced no weekend agreement with the European Union. Gold prices saw tepid safe-haven demand and some short covering Monday. Gold quoted in Euros did see much better price gains Monday, reports said. Greek banks were closed for six days starting Monday and Greece’s prime minister has called for a July 5 referendum on new austerity measures. Greece’s present arrangement with its International Monetary Fund creditors expires on Tuesday—at which time Greece also needs to make a big debt payment to its EU/IMF creditors. "Last night as the news hit, gold was up $10 dollars - and as the day unfolded and the dollar became very expensive - it was very difficult for traders to continue to support gold, because gold is very expensive in dollar terms," explains Gero. "Because of possible currency controls in Greece you have seen a flight to cash and to bonds," he says. As to whether Greece will exit the EU, Gero says that right now it is a 50-50 chance. “I don't think a Grexit is as cut and dry as people think - I think people who live in countries like Greece and Italy and Spain who have had currency questions, will go to gold, which is liquid, portable and convertible into any currency.” Tune in now to Kitco News’ latest Gold Report live from our studio on Wall Street. Kitco News, June 29, 2015."

Bloomberg Intelligence: Chinese Gold Standard Would Be "Game Changer”.

  This summer doldrums in Gold could be over very soon. Next week will be very interesting with Greece saga continued and China's rates cut after the record plunge in the stock market. Will Chinese coming back into gold finally smash the lid at 1,200 level? The news from Bloomberg Intelligence few years ago would propel gold $100 overnight easily, but today it is almost like no event in the market. While the West is chasing stocks in the Wall Street Bubble again, China is buying record amount of Gold and collecting the stakes in the best mining projects all over the world.

James Rickards: Gold And Major Flaws In FED's Risk Models - The Death Of Money.

  James Rickards makes one his best presentations on the state of the economy and the looming crisis underneath the surface of "happy markets". Gold, China and risk management of complex financial systems are among the very well articulated issues which will determine the future for the world's financial system. Gold manipulation is the very important part of this system and now we can have the changing market place in the making.

Finally Gold And Silver Price Manipulation Under DOJ Investigation.

DOJ Probes Banks for Silver, Gold Price Manipulation.


  Finally one more conspiracy theory is on its way to the court rooms. Let's see how serious DOJ will be acting here. What can be easier than just contact GATA and Bill Murphy for all the evidence, who was banned from CNBC for telling the truth about manipulation of gold?
  TNR Gold projects will benefit from the fair market pricing of Gold as will all other people who are suffering from the unreported rise in the real cost of living and real inflation in prices of food and other basic services.