Econintersect: Everybody hates gold so news is not as plentiful as it was over the multi-year bull run. We have collected recent news, some from sources many not be familiar with, to help you start the new year.
31-Dec (USAGOLD) – Contrary to many of the end-of-year headlines, the gold market still seems to have a little fight in it on the last trading day of the year. The yellow metal retested the June low in early New York trading, but 1179.83 held firmly and gold quickly surged back above 1200.00, slightly exceeding yesterday’s high at 1214.00. With key support intact and an outside day evident, there is a little technical encouragement here.
- No move on gold import restrictions, but India mulls mining revival – http://www.mineweb.com
Apart from the famed Kolar Gold Fields, there are about 40 mines where prospecting has been done, and 16 other gold mines that could be developed
- 2014 Is Going To Be A Year Of Utter Turmoil & Chaos – kingworldnews.com
With continued uncertainty around the globe, today a man who has been involved in the financial markets for 50 years, and whose business partner is billionaire Eric Sprott, warned King World News that 2014 is going to be a year of utter chaos and turmoil. He also discussed what this means for investors around the world in major markets, including gold and silver…
- News in brief: Moulton ends talks on Albemarle deal, M&C makes £65m Chelsea hotel buy, Twitter’s Dorsey joins Disney board – http://www.standard.co.uk/business/
Pawnbroker Albemarle & Bond, which put itself up for sale after it started melting down its gold reserves to raise emergency cash, today admitted Jon Moulton’s corporate turnaround firm Better Capital had walked away from an acquisition But it added that it was still in “discussions with a number of interested parties”.
- The Big Picture As We Head Into 2014 – kingworldnews.com
- Today 41-year market veteran, Bill Haynes, who runs the largest gold and silver dealer in the United States, CMI Gold & Silver, put together a fascinating piece which looks at the big picture as we head into 2014. Below is what Bill Haynes’ exclusive piece for KWN.
- Gold Sinks Again: A Contrarian Buy? – econintersect.com
From April to June 2013, the price of gold crashed to a three-year bottom and suffered one of its biggest quarterly declines ever. After a short-lived rebound, the yellow metal is now back to those levels, and gold-mining stocks have sunk even more.
- Gold’s prospects in 2014 look tarnished – marketwatch.com
The year 2013 put an end to a dozen years of annual gold gains, and the metal’s prospects for recovery in 2014 don’t look great. Gold futures prices GCG4 +0.07% lost 28% in 2013, the first yearly loss since 2000 and the largest annual loss for gold futures since at least 1984, according to FactSet data tracking the most active contracts.
- Cashin Warns About West’s Disappearing Gold Hoard – kingworldnews.com
Today 50-year veteran Art Cashin warned King World News about the West’s disappearing gold hoard. Cashin, who is Director of Floor Operations at UBS ($650 billion under management), also discussed what surprises him the most regarding the West’s loss of gold.
- Can’t-miss headlines: Gold falls below $1,200, Animas backs GoGold bid & more – http://www.mineweb.com
The latest morning headlines, top junior developments and metal price movements. Today, gold comes back from under $1,200 an ounce and a junior takeover battle heats up.
- Bullion banks forcing hedging to replenish their gold stocks? – http://www.mineweb.com
Could there be hidden agenda behind the latest drive by the bullion banks to insist miners hedge some of their output as a prerequisite for the provision of new finance?
- Bernanke has set the stage for the Fed’s collapse -Jim Rogers – http://www.mineweb.com
Investor Jim Rogers says precious metals are not tempting him at the moment, but he remains bullish on gold over the long term.
- Absolutely Shocking Developments In The War On Gold – kingworldnews.com
Today the man who predicted the recent takedown in the gold market ahead of time spoke with King World News about some absolutely astonishing developments in the war on gold and silver. William Kaye, who 25 years ago worked for Goldman Sachs in mergers and acquisitions, also addresses what these major developments in the war on gold will mean for investors…
- November sees sharp fall in Chinese gold imports – http://www.mineweb.com
While Chinese gold imports through Hong Kong slipped back in November the country is still heading towards consuming almost double the amount of gold it acquired in 2012.
- We’re Witnessing History – Stocks, Gold, Bitcoin & 2014 – kingworldnews.com
- With continued chaos around the world and uncertainty in global markets, today KWN is publishing an incredibly powerful piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, states that we are “witnessing history” and he also believes that “2014 will be a year of tectonic changes…”
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