Precious Metals News: Sunday Evening Review

Econintersect:  Here is a collection of some of the important articles about precious metals in recent days to help prepare Global Economic Intersection readers for the coming week.

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Gold rush trash is Information Age treasure - USA

There's a rush in the U.S. to find key components of cellphones, televisions, weapons systems, wind turbines, MRI machines and the regenerative brakes in hybrid cars, and old mine tailings piles just might be the answer. They may contain a group of versatile minerals the periodic table called rare earth elements.

Gold prices are heading towards $1,000 - The

Nouriel Roubini - The runup in gold prices in recent years – from $800 per ounce in early 2009 to above $1,900 in the autumn of 2011 – had all the features of a bubble. Now, like all asset-price surges that are divorced from the fundamentals of supply and demand, the gold bubble is deflating.

Silver To Eclipse $100 On Skyrocketing Chinese Demand -

With gold and silver rebounding, today acclaimed money manager Stephen Leeb told King World News that silver is now setting up to eclipse $100. Leeb believes that China, which has been the primary driver in the gold market, is now going to push the silver price over $100 as their consumption of physical silver is poised to skyrocket...

$35M treasure hunt has a silver (ingot) lining -

A Florida company has completed a record-setting shipwreck excavation that yielded among its $35 million treasure 60 tons of silver ingots.

“This Will Trigger A Tidal Wave Of Short Covering In Gold” -

With Ben Bernanke ready to deliver his semi-annual monetary policy report to Congress starting today, a legend in the business warned King World News about what is going to “trigger a tidal wave of short covering in gold.” Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also spoke with KWN about the massive global demand for both gold and silver and what he is directly experiencing in the marketplace.

Investing in Silver a Winning Move as India's 'War' on Gold Continues -

Tony Daltorio - There's a major government move right now that's giving a huge boost to anyone investing in silver...  You see, when things go awry, governments have a tendency to pin the blame away from the government and on a convenient scapegoat.  Take India, for example. It faces a record current account deficit and its currency, the rupee, continues tumbling to record lows against the U.S. dollar.

Weekly Gold & Silver Market Recap – 7/19/2013 -

Brandi Brundidge - The week began with a stronger dollar, rising ahead of U.S. retail sales data, which put pressure on the Gold price. Danske Bank analyst Christin Tuxen said, “There is expectation that U.S. retail sales may be a fairly good number following the steady improvement we have seen in the past few months, which of course could add to the picture that will impact on the Fed's decision to taper stimulus.” The Gold price’s rise last week was due in part to U.S. Federal Reserve Chairman Ben Bernanke’s comments supporting continued easing for the foreseeable future. Tuxen continued to say, “The main focus is Bernanke's testimony to the Congress [Wednesday and Thursday], and that should really give us more guidance to whether tapering will start in September or December.”

Hathaway - Gold, Silver, The Fed & What To Expect Next -

With gold and silver getting consolidating, today John Hathaway spoke with King World News about what is happening in the war on precious metals. Hathaway also spoke about the gold and silver shares and what is taking place in the industry. Hathaway, of Tocqueville Asset Management L.P., is one of the most respected institutional minds in the world today regarding gold, and his fund was awarded a coveted 5-star rating.

Precious metals close higher -

GOLD futures have climbed to a four-week high after Federal Reserve chairman Ben Bernanke's re-assurance there is no set timetable for a wind-down of the bank's bond-buying program.

The most actively traded contract, for August delivery, on Friday rose $US8.70, or 0.7 per cent, to settle at $US1,292.90 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest since June 19.

The Price Of Silver Is Set To Soar As Inventories Collapse -

With continued volatility in global markets and oil still trading near the $106 level, today John Embry told King World News the price of silver is set to soar as inventories continue to collapse. Embry also spoke at length about the gold market. Below is what Embry had to say in this powerful interview.

The best cure for low gold prices is low prices - Kachanovsky -

While unable to predict the timing of the turn, Mike Kachanovsky, founder of believes the longer the correction lasts the more vibrant the recovery will be.

Pento - Despite Pullback Gold Headed To New All-Time Highs -

On the heels of Ben Bernanke signaling that the U.S. economy is weak and needs a highly accommodative Fed policy, today one of the top economists in the world said that despite the recent capping of gold at $1,300, gold is heading to new all-time highs. Michael Pento, founder of Pento Portfolio Strategies, wrote this piece for KWN.

Village Main Reef to dismiss 918 strikers at South African mine -

Village Main Reef said on Wednesday it planned to dismiss 918 employees for an illegal strike at its ConMurch antimony and gold mine that has halted production since July 12.

Palladium and Platinum Shine Amid Focus on Supply - The Wall Street Journal

Laura Clarke - While prices of base metals such as copper wallow and as gold and silver stand on shaky ground, precious metals with industrial uses are rising as their supply outlook tightens, subsequently upping their investment appeal.

Gold and the need to escape cash in the bank -

The need to flee cash is growing, writes Adrian Ash and, he points out, the direction of travel in real rates matters to the yellow metal.

Earth's Gold Came from Dead Stars Colliding -

Econintersect:  The Harvard-Smithsonian Center for Astrophysics presented findings today (17 July 2013) that attributes the existence of gold on earth to the collision of two stars.  Unlike carbon, iron and other lighter elements which can be created by reactions within a star, many heavy elements require a "more cataclysmic event"...

U.S Silver & Gold cuts employees, shutters operations, reduces pay -

Nearly a year ago, U.S. Silver shareholders rejected Hecla Mining’s C$111 million bid in favor of an all-cash merger with junior RX Gold & Silver—then silver prices plunged.

How to Beat a Gold Shortage -

Bullion Vault Article of the Week
Written by Miguel Perez-Santalla, Bullion Vault
Gold is sold out! Or so you might think if you miss the true nature of coin supply...
Over the last few years, during the great investment demand for gold and silver, we have seen sporadic shortages in bullion coins.  Many people have written about these shortages as a harbinger of things to come in precious metals more widely...

Steven Hansen
John Lounsbury

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