A few weeks ago we held our Case for Investing in Gold webcast with the World Gold Council’s (WGC) Jason Toussaint, who gave some remarkable insight into gold demand in the East. In these countries, gold is not only celebrated, acquired, worn or displayed during holidays or special occasions; it is seen as an everyday symbol of wealth.
[Read more...]New Home Sales Plunge!
August 26, 2010 By Leave a Comment
Well… The chill in the air isn't confined to the cold front that moved through the Midwest this week… The cold front's chilly air has moved over the economic data here in the US and to a lesser extent, the dollar.
The dollar is weaker this morning versus the usual suspects, led by the euro (EUR), which has climbed and clawed its way back to above 1.27; and the commodity currencies look a bit healthier this morning, too. It's all about the awful housing data that had printed two consecutive days this week. I'll get to that in a minute, but first some observations from the Chuck flight deck…
[Read more...]India’s Banks Follow China’s Lead Toward Expanding Gold Market
August 9, 2010 By Leave a Comment
Recently, China began looking at ways of internationalizing its gold market, and since then banks in India have also made it known to their central bank, the Reserve Bank of India, that they are seeking permission to buy back gold from investors. These trading rights would be in addition to the role they currently maintain of primarily importing gold with the express purpose of selling it directly to jewelers and retailers.
[Read more...]Gold Shortage Rumors Abound
May 6, 2010 By Leave a Comment
“When you hear of wars and rumors of wars, don’t be alarmed! reads the Gospel according to Mark. These things must happen, but they don’t mean that the end has come.
We seldom cite the Bible, but the passage came to mind this morning as we reflected on an e-mail chain among several of our business partners and acquaintances. Only instead of wars, the word that came to mind was fraud.
[Read more...]Gold Bulls Bust Myths
May 3, 2010 By Leave a Comment
John Nadler at Kitco.com had a recent column with the terrific title Who You Gonna Call? Mythbusters!
When I read that, I began to sing the song to myself! Something strange, in the neighborhood. Who ya gonna call? Mythbusters! Something weird, and it dont look good. Who ya gonna call? Mythbusters! Wonderful!
[Read more...]The Upshot of the Shoot Up in Gold Demand
April 21, 2010 By Leave a Comment
John Embry of Sprott Asset Management is one of the really tuned in people of the world, in that he knows so much that he actually knows who I am! I know this because when I called him on the phone and said, Hey! John! Whats the poop about gold and can you loan me a few bucks? I think he said, Its that Mogambo idiot right before the line went dead. Ive arrived!
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Commodities Take Off!
The Greek talks returned to the headlines this morning. I know I said this last Friday, and I was a little too optimistic and turned out to be wrong! But… I do expect this agreement on a private-sector involvement in Greek debt to get hammered out this weekend… It seems that the opposition from eurozone policymakers is backing off, and that has me optimistic once again.
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