Gold and Precious Metals: News Summary 26 August 2013

August 26th, 2013
in gold, syndication

Econintersect has collected gold and precious metals stories from the past week and lists them here to help you get ready for the coming week.


Follow up:

Gold within striking distance of bull territory -
Gold pushed above the key $1,400 psychological level on Monday trading in Asia to its highest price in almost three months, putting the precious metal within striking distance of bull-market territory.

‘Spectacular’ Gold Rally Is Coming: Schiff -
Scarcity. It is arguably the single-biggest driver of rising price and when you combine it with strong demand, the results are nothing short of astonishing, or in the case of gold, spectacular.
"I think everything supports the fact that this is yet another buying opportunity in a string of buying opportunities," says Peter Schiff, CEO of Euro Pacific Capital, in the attached video. "In fact, I think this may be the best buying opportunity yet."

Putin - The Russian, German, Chinese Connection & Gold -
With gold and silver consolidating recent gains, today acclaimed money manager Stephen Leeb spoke with King World News about some extraordinary moves that Russian leader Vladimir Putin is now involved in, and how it will impact the gold market. Leeb also discussed China, silver, Europe, Japan, and what investors should expect in the commodities markets in the future...

Costs at main Ghana mine unsustainable - AngloGold -
CEO Srinivasan Venkat says the cost structure at its flagship Obuasi gold mine, Ghana’s largest mine, is unsustainable.

Demand takes India’s gold buyers to Dubai & Singapore -
Press reports in both Dubai and Singapore say local gold dealers are seeing a sharp increase in buying by Indian visitors.

UK gold exports to Switzerland surged in H1 - Macquarie -
The UK exported 240 tonnes of gold to Switzerland in May alone, while its exports over the first half of this year totaled 797 tonnes, says Macquarie.

Gold pares earlier losses, silver falls on Fed speculation -
Prices steadied on Tuesday but remain in a narrow range ahead of the release of minutes of the US Fed Reserve's July meeting on Wednesday.

Violent Oversold Reaction Continues in Gold Market -
by Erik McCurdy, Prometheus Market Insight
In June, we observed that the cyclical downtrend in gold was declining at an unsustainable rate following the trading range breakdown in April. During the final week of June, our analysis indicated that prices had returned to a level at which the development of a potentially violent oversold reaction was likely...

Seabridge hits second zone with double gold-copper reserve grades -
Seabridge Gold reports a round of drilling from KSM, showing deep potential at Iron Cap, just as Kerr.

We Are Now On The Verge Of A Historic Meltdown & Collapse -
On the heels of a tremendous rally in gold and silver, today a man who has been involved in the financial markets for 50 years shocked King World News when he said that we are on the verge of a historic and catastrophic global financial “meltdown.” He also spoke about events that are unfolding behind the scenes at the White House right now...

There Are Absolutely Terrifying Risks Facing Global Markets -
Today a legendary value investor warned King World News that the financial world is in an incredibly precarious position and that for many countries there is a big risk of a collapse. Jean-Marie Eveillard, who oversees more than $65 billion, also spoke about Russia, Putin, and gold. Below is what the legendary investor had to say.

Richard Russell - America In Trouble As Gold War Rages -
On the heels of continued volatility in key global markets, the Godfather of newsletter writers, Richard Russell, warned about the severe problems the United States is facing. Russell also wrote about gold, and included some fantastic charts which covered everything from the withering consumer, to the ongoing war in the gold market.

Incredibly Important Developments In Gold & Silver Markets -
Today King World News is reporting on incredibly important developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini spoke with KWN about some extraordinary events that are happening which will surprise KWN readers around the world. 41-year market veteran Bill Haynes, who runs the largest gold and silver dealer in the United States, also spoke about the enormous demand for silver...

Steven Hansen
John Lounsbury

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