Friday, May 31, 2013

Gold and Silver Financial Review 05/31 by Gold Radio Cafe | Blog Talk Radio

Recorded LIVE Today at 12:00pm EST
With co-host Jeff Dunphy

Listen to internet radio with Gold Radio Cafe on BlogTalkRadio

Friday, May 24, 2013

Gold Trading in Yuan Triples in Hong Kong

Trading in gold using the Chinese currency has tripled in Hong Kong this year as the yuan’s rally to a 19-year high helps limit risks for jewelers.

Average daily volume was 6.5 billion yuan ($1.1 billion) in the first five months of this year, compared with 1.8 billion yuan for the same period in 2012, according to the Chinese Gold & Silver Exchange Society, the city’s century-old bullion house. That exceeds the 4.9 billion yuan target set when the contracts were introduced in October 2011.

Gold and Silver Financial Review 05/24 by Gold Radio Cafe | Blog Talk Radio

Listen to internet radio with Gold Radio Cafe on BlogTalkRadio

Thursday, May 23, 2013

11,000 Ounces of Silver

Dear readers,

We recently deposited 11,000 ounces of silver in storage for a client, and here's what it looks like. These 1000oz silver bars are 2013 issue, and we had no problem sourcing them.
Also a brand new 100oz gold bar from Heraeus.   BK

Wednesday, May 22, 2013

Gold Bars in High Demand in China


Premiums for gold bars hit a record high in Asia on Wednesday as lower spot prices lured more buyers, mainly in China, the world's second biggest consumer of the precious metal, amid tight physical supplies.

Premiums for gold bars in Hong Kong touched a new all-time high of $6 an ounce over spot London prices, up from $5 last week. Singapore premiums rose to $5.

Banks in China were quoting up to $7 in premiums, two traders in Singapore said.

"China premiums remain high because of a shortage in supply of the physical metal," said a Hong Kong-based trader.    LINK...

Tuesday, May 21, 2013

No Bear Market in Gold -- Dr. Paul Craig Roberts

You know that gold bear market that the financial press keeps touting? The one George Soros keeps proclaiming? Well, it is not there. The gold bear market is disinformation that is helping elites acquire the gold.

Certainly, Soros himself doesn’t believe it, as the 13-F release issued by the Securities and Exchange Commission on May 15 proves. George Soros has significantly increased his gold holding by purchasing $25.2 million of call options on the GDXJ Junior Gold Miners Index.  LINK...

Tuesday, May 14, 2013

Record High Gold Bullion Sales at the Perth Mint

May 14, 2013 By Michael Zielinski
The Perth Mint of Australia achieved record breaking sales for gold bullion products in April, as lower precious metals prices spurred a huge leap in demand. Silver bullion sales also jumped to the highest level in six months.

The Perth Mint began publicly reporting its monthly gold and silver bullion sales in March 2012, providing a window of insight into demand for physical precious metals. Sales spikes have occurred in September 2012 to coincide with the release of the new designs and last month to coincide with the decline in metals prices.    LINK...
Lower paper prices in gold will create a higher demand for the physical bullion. It sounds strange to supply/demand economics, but the difference lies in the definition of "paper gold." Lower prices usually suggest a healthy supply, which is true if you consider paper gold, because "paper gold" has virtually an endless supply. However, when you consider the "physical bullion" it's obvious that demand is high which would suggest a shortage in supply and higher prices. This in fact is the case and the evolution of this will be "Freegold." A disconnect between the "paper" price and the "bullion," which is exactly what our friend Jeff Dunphy was telling us two weeks ago on Gold Radio Cafe, when he said there is a difference between the "price" of gold and the "gold" price.   BK

Monday, May 13, 2013

Is There a Crisis in the Gold Market?

Here's a link to an interesting speech by Jamie Sokalsky, CEO Barrick Gold Corporation.

Wednesday, May 8, 2013

Heraeus Morning Commentary

Good Morning,

The precious metals complex is recovering this morning after spending much Tuesday’s session under pressure as US equities continued their march into record territory. Physical demand for gold out of Asia continues to provide a downside cushion as reports showed March gold imports into China topping 223 tons! The yellow metal closed yesterday’s session at $1448.80 and is now up more than 1% on the day to $1466. Platinum continues to flirt with the $1500 level as market participants await the results of the Amplats consultation regarding planned shaft closures and job cuts proposed earlier this year. The white metal now trades $1495 after closing Tuesday’s session at $1481.20. Palladium’s dip to $680 was short lived as Norilsk Nickel reported a 9% drop in palladium production in the 1st quarter of 2013 compared to the same time frame last year. Palladium is now up nearly 1.5% from yesterday’s close, trading at $690 to start the day. Nothing significant on tap from an economic data standpoint but more corporate earnings should have market participants keeping their eye on the surging equities markets. The DJIA closed Tuesday at $15056.20! Have a great day!

Tom Hungerford
Heraeus Metals New York LLC

Chinese Gold Buying More Than Doubled in Q1

If the bull market for gold is over nobody seems to have told the Chinese. Net gold flows from Hong Kong to China surged to 223 tonnes in March, up from 97 tonnes in February taking total imports in Q1 to more than half of the record 557 tonnes imported for the whole of last year.

And that was before the 50 per cent plus surge in physical buying in April when the gold price crashed bringing out a huge number of bargain hunters across Chinese cities. ArabianMoney witnessed the queues in several Chinese cities during our tour last month.  LINK...