Gold & Silver Digest: 1/20/14

Adam Taggart
By Adam Taggart on Mon, Jan 20, 2014 - 7:35pm

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.

1/20/14 6:46 PM EST US close metals price quotes from Finviz

Reuters: Gold steadies near 6-week high, strike notice lifts platinum

Gold steadied on Monday after touching its highest level in nearly six weeks with a lower dollar and a dip in equities boosting investor confidence in the yellow metal.

Platinum prices rose to their highest in nearly three months after the main trade union for South African platinum miners said workers at the world's top three producers would go on strike this week.

Spot gold was close to flat at $1,253.19 an ounce at 3:31 p.m. EST (2031 GMT), after hitting its highest level since mid December at $1,259.85 earlier in the day. U.S. gold futures for February delivery were up $2.50 at $1,254.40 an ounce.

Bloomberg: Bundesbank to Recall 30-50 Tons of Gold From New York in 2014

The Bundesbank plans to repatriate 30 to 50 metric tons of gold stored in New York this year under a plan to ship home half of its bullion reserves held abroad.

The central bank transferred 32 tons of gold from Paris and five tons from New York last year, according to a Bundesbank spokesman. The bank expects to repatriate the reserves at a pace of about 50 tons a year, he said.

The Bundesbank said a year ago it will repatriate 674 tons of gold from vaults in Paris and New York by 2020 to restore public confidence in the security of Germany’s reserves. The stockpile is worth $27.2 billion in current prices, from $36 billion a year ago, after gold had its worst year since 1981.

Forbes: Speculators Jump Back On Gold Rally Move

April Comex gold futures settled higher for the fourth week in a row on Friday. Positive signals are emerging from the speculative and managed money crowd—who are showing interest in the yellow metal once again.

“Physically backed ETPs rose by 7.4 tonnes on Friday (driven by SPDR), the first inflow in almost a month and the largest daily inflow since 31 January last year,” according to Barclay’s analysts.

SRSrocco Report: Is The U.S. Running Out of Gold Scrap?

As the U.S. economic and financial system continue down the road of self-destruction, there is an increasing amount of evidence that suggests the day of reckoning is fast approaching

One such indicator is the amount of U.S. gold export scrap.  At one point in time, the United States was exporting a great deal of gold scrap and waste, however it looks like its citizens are now…. tapped out.

SilverSeek.com: Silver – The Power Of Thought Will Ultimately Prevail

It has become universally recognized that the power of thought can change anything.

Silver remains incredibly undervalued, and that bodes well for all of us silver stackers. The fact that silver and gold have purposefully been suppressed by the moneychangers makes the future for the next price rise to be greater than ever. Any time anything has been artificially manipulated, it makes the ultimate outcome far worse than was planned by those doing everything possible to prevent a rise in prices. Central planning always fails.

King World News: Turk - The Silver Spike Is Going To Shock The World In 2014

As markets continue to see some wild trading as we start 2014, today James Turk told King World News that a massive spike in the price of silver is going to shock the world in 2014.  Turk also warned about central planners’ desire to control humanity through banking and currencies, and also included a fantastic chart of silver.

Turk:  “The big question everyone should be asking here, Eric, is:  When are gold and silver going to break out from the huge base both precious metals have been forming since their low price was reached last June?....

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