Gold & Silver Digest: 3/26/13

Adam Taggart
By Adam Taggart on Tue, Mar 26, 2013 - 7:32pm

The Gold & Silver Digest contains headlines of stories that members of this group deem relevant and/or interesting to precious metals enthusiasts.

If you have articles to submit for the next digest, please email them to me by clicking here.

3/26/13 7:38 PM EST US close metals price quotes from Finviz

Reuters: Gold falls for 3rd day on euro calm, bright US data

Gold fell for the third session in a row on Tuesday as the return of relative calm in Europe after a deal to bailout Cyprus' banks eased market fears and better U.S. factory and housing data pointed to an improving economy.

The metal came under pressure as Wall Street climbed after data showed U.S. single-family home prices rose in January at the fastest pace in more than six years. U.S. durable goods orders showing demand for long-lasting manufactured products also rose in February. 

Bloomberg: Gold Annual Average Seen Lower by CPM for First Time Since 2001

Gold prices on average may fall this year for the first time since 2001 as investors shift “away from extreme expectations of an imminent collapse of the global financial system,” CPM Group said.

The metal may average $1,565 an ounce in 2013, Jeffrey Christian, the managing director of New York-based CPM, said in an interview before the release today of the research company’s “Gold Yearbook 2013.” That’s down 6.2 percent from the spot average of $1,668.75 in 2012.

The Washington Post: Texas wants its gold back! Wait, what?

Texas has generally been the at the front of the pack of a certain variety of uber-hawkish, vaguely paranoid monetary policy talk over the last few years. Recall it was the state’s governor, Rick Perry, who while running for president strongly suggested that Ben Bernanke would be committing treason should the Federal Reserve print any more money.

But now some in the state, including Perry, are looking to put their money where their mouths are. Literally.

Market Watch: The case for staying in gold

Over the past decade investors have poured billions into exchange-traded funds that track the price of gold. Now with gold prices falling, many are yanking some of that money back out — a move investing pros say misses the whole point of owning the shiny metal in the first place.

Gold’s recent slump — down 4% so far this year — has turned many former gold bulls into bears. In the first two weeks of March, investors pulled $1.6 billion from gold ETFs, according to data compiled by BlackRock, the largest ETF provider. That follows outflows of more than $5.6 billion from the funds in February, the largest monthly outflow ever.

Business Insider: The Price Of Gold Doesn't Matter

Some conservatives are showing evolution on the matter of monetary policy.

For example, Larry Kudlow recently admitted that, contrary to what he expected, Ben Bernanke's easing measures haven't created huge inflation or dollar debasement, and that he might actually be on the right track.

But others in the party continue to bang the hard money drum.

321Gold: Gold Stock Insiders & Patience

  1. Please click here now . That’s a link to a nice article published by Canada’s Globe & Mail newspaper. It shows that gold company insiders are aggressive buyers of their own stock, at current price levels.
     
  2. In the big picture, that’s great news for gold stock investors!
     
  3. Unfortunately, while long term market fundamentals and technical indicators suggest that gold offers tremendous value to investors, the daily charts of gold and related assets… seem to be presenting quite a different picture.

Bloomberg: Mongolia Increases Gold Reserves to Highest Since August 2008

Mongolia raised its gold reserves for a third month to the highest in more than four years in February as the metal capped its longest monthly losing streak since 1997.

The country’s holdings expanded 1.5 metric tons to 5.8 tons, the most since August 2008, according to the International Monetary Fund’s website. Kazakhstan’s holdings increased 4.9 tons, Azerbaijan’s climbed 1 ton and Ukraine’s rose 0.6 ton, the data show. Canada’s reserves dropped 0.1 ton, the Czech Republic cut them by 0.2 ton and Mexico’s holdings fell 0.1 ton.

Edge Trader Plus: Gold And Silver – Do Not Buy At Your Own Peril

It used to be that March Madness was about the best basketball at the college level. Now it is about “Bankers Gone Wild!”  If Cyprus is not the final nail in the coffin for trust in bankers, then you should put all your available funds into a bank, maybe even the Bank of Cyprus.  March of 2013 did not just send a shot across the bow, the Emperors of the banking elite just sent a direct hit to any depositors dumb enough to keep any funds in any financial institution.

Can this be any clearer?

Silver Bear Cafe: Hi Ho Silver: Making the Case for This Precious Metal

Even though the newsletter I write for Casey Research is focused primarily on gold, our metals investments cover all the precious metals, and when warranted, some base-metals plays too. And with the markets in the state they are, I want to say something about silver…

My talk at the Vancouver Resource Investment Conference in January was titled Is D-Day for Silver Approaching?, and highlighted the delicate balance between supply and demand. I concluded that there would be insufficient metal to meet a major spike in investment demand if it were to occur, leading to all kinds of negative consequences for those who don't own silver (and lots of wonderful rewards for those who do).

Note: If you're reading this and are not yet a member of Peak Prosperity's Gold & Silver Group, please consider joining it now. It's where our active community of precious metals enthusiasts have focused discussions on the developments most likely to impact gold & silver. Simply go here and click the "Join Today" button.

1 Comment

buckeye78's picture
buckeye78
Status: Member (Offline)
Joined: Aug 17 2011
Posts: 3
physical gold depositories

this is a question for the people who hold either allocated or unallocated bullion/silver/palldium, etc....with companies such as Bullion Vault, Gold Money, Hard Assets, etc...

How comfortable are you with putting assets with these companies?  they are some of the most often recommended companies to store PM's at, but given some of the collapses at other holding companies, i.e. MF Global what do you think you know that makes these companies any different?

I am just trying to get a comfort level using the aforementioned companies.

thanks for your comments in advance.

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