Gold & Silver Digest: 7/3/13

Adam Taggart
By Adam Taggart on Wed, Jul 3, 2013 - 8:45pm

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.

7/3/13 8:11 PM EST US close metals price quotes from Finviz

Reuters: Gold buoyed by weak dollar, safe-haven buying

Gold rose almost one percent on Wednesday, as the dollar remained under pressure after mixed U.S. data and political turmoil in Egypt and Portugal triggered safe haven buying.

Volumes thinned as traders were reluctant to take big positions ahead of the U.S. Independence Day holiday on Thursday and key U.S. nonfarm jobs data on Friday.

Spot gold rose as much as 1.5 percent to a session high of $1,259.60 an ounce earlier and was at $1,252.91 an ounce at 2:55 p.m. EDT (1855 GMT), up 0.93 percent.

CNBC: Investing Pros Look East for Signs of Gold Rebound

American investors hoping for a rebound in gold may want to look east.

India, one of the largest buyers of the yellow metal in the world, has long been vital to keeping gold prices stable. Not only is the precious metal used in every Indian festival and wedding, it's seen as a trading currency—and a safe haven investment among Indians who are troubled by recent wild swings in the rupee.

Wall Street Pit: Physical Demand for Gold is Gearing Up At An Alarming Rate

Here’s a riddle for you…

When folks sell their electronic-traded-fund (ETF) gold and other electronic bullion, where does it go?

Does the bullion zap away into the nether regions of the internet? Does it move from one clandestine warehouse to another? Maybe it heads to a government coffer?

Money Morning: 7 Reasons to be Bullish on Gold

What's going on with gold prices?

With the price of the yellow metal near two-year lows through much of 2013, some investors wonder whether the price decline will continue.

Is this a bear market for gold or will it rebound?

The Real Asset Co: The London Gold Market: What’s behind the smoke and mirrors?

In our last two major research pieces we have been looking at the working parts of the gold market and where the heart of it lies. We’re trying to help investors understand where gold prices are really set.

Today we take a look at the London gold market, an older and arguably larger market than COMEX.

GoldSilverWorlds: Gold Has A New Daily Up Cycle In Place

Bear markets can be a very humbling process, and this one has certainly been up there with the best of them.  The important take-away from living through these types of environments is to allow yourself to “stop and smell” the action.  In the investing world, these are not random outlying events.  The saying “there is always a bull market somewhere” could also be expanded to include “there is always a bear market somewhere”.

Hubert Moolman on SILVER and GOLD: The Dow and Gold Silver Ratio Signals Coming Silver Rally

The Dow, in particular, has been the biggest obstacle to a rise in precious metals, due to it sucking up most of the available value on global markets. However, it appears that this obstacle is now out of the way, with the Dow likely having peaked.

Below, is update of the fractal comparisons between the current period and the 70s, I have done for the Dow in a previous article:

SilverSeek: Silver Market Buy Signal – AGAIN!

For the umpteenth time (actually the 3rd since June 2012) silver has given a buy signal according to my reading of the technical indicators.

Problem: How valuable is technical analysis (moving averages, oscillators, over-sold conditions etc.) when the silver and gold markets are dominated by computers (High Frequency Trading - HFT) and not human beings?

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