Thursday, October 31, 2013

CDIC 2013 Annual Report

CDIC has just released their 2013 Annual Report and here's where we stand.
  • Total CDIC eligible deposits: $646 Billion (3.9% increase)
  • Total CDIC assets available: $2.56 Billion
  • Total CDIC borrowing capability: $19 Billion
Risk Management Conclusion: Even if CDIC borrows the $19 Billion from the federal government they are still under funded by $624.44 Billion. So if Canada's banking system is the safest in the world, do these numbers represent a sound financial system?

STAY TUNED to Central Metals Corp., for a BRAND NEW innovation that eliminates this risk.

European Parliament votes to suspend its SWIFT data exchange agreement with the US | euronews, world news

European Parliament votes to suspend its SWIFT data exchange agreement with the US | euronews, world news
As if the SWIFT system is some kind of trump card? This will have zero success for the EU.   BK

Fed will start to wind up QE money printing in March or April say economists

Fed will start to wind up QE money printing in March or April say economists
Yes, and what do you think the "bail-in" is for? Think they'll use this to pay for the unfunded liabilities and debt?  BK

Wednesday, October 30, 2013

Heraeus Market Commentary

Good Morning,

Chairman Bernanke might be calling for a few more coffee breaks, to kill some time before his 2 PM statement, as this morning’s economic data give little reason to debate the current direction of monetary policy. ADP private sector jobs data showed just 130,000 jobs added this month. That’s the lowest level of job add-ons since the beginning of Q2 2013. The more heavily relied upon data, the government jobs data, has been delayed until November 8th because of the government hiatus. On the inflation front, The U.S. Labor Department reported that the Consumer Price Index rose just .2% in in September with 12 month CPI up just 1.2%. Along with a 6.5% unemployment rate, a 2% inflation target was given as the criteria for any pull-back in QE. The precious complex is pushing higher ahead of the conclusion of the FOMC meeting. Gold closed the previous session at $1345.50 and now trades nearly 1% higher at $1356. The yellow metal found some resistance near the $1360 mark, having reached as high as $1359.90. Silver is up nearly 2.5% having closed the previous session at $22.492 and now trades near the higher end of the day’s range at $23.035. Platinum has moved more than 1% higher as well, now trading at $1478 after closing the previous session at $1461.90. The white metal continues to find support from potential strike action from the AMCU. Have a great day!

Tom Hungerford

Heraeus Metals New York LLC

Thursday, October 17, 2013

John Williams Says $2,000 Gold Will Be Cheap In The Future

John Williams discusses gold in the last 15 minutes of this great interview. As we have said many times, it's not about gold, it's about protecting your wealth and preserving your purchasing power. Gold at $10,000 is not a pretty picture because a litre of gas might be $100 and a cup of coffee might be $75? It's about owning "hard assets" that maintain their value in a hyper-inflationary environment and eliminating the intermediaries between you and your assets. BK

STAY TUNED for a major announcement coming soon to Central Metals Corp., it has to do with a brand new innovation with currencies and insurance. We can't say much more now, but it will be a one-of-a-kind solution to eliminate currency risk.  BK

Thursday, October 10, 2013

Hong Kong Gold Imports Surge

Perhaps a little belatedly the gold import statistics for August have just been released in Hong Kong and they show a dramatic surge in imports and re-exports to mainland China with almost 300 tonnes imported.  LINK...

Wednesday, October 9, 2013

Precious Metals Storm Ahead

Notice in 2007, total Gold Eagle sales were only 198,500 oz, but after the banking and housing collapse in 2008, buying more than quadrupled to 865,500 oz. Furthermore, when the broader stock markets continued to tank in 2009, Gold Eagle sales reached 1.4 million oz.
As the Fed and central banks continued to print, prop-up and backstop their respective fiat currencies and broader stock markets, the demand for gold continued to decline. In 2011, Gold Eagle sales slipped to 1 million oz. and down to only 753,000 oz. in 2012.
After a more than 40% correction in precious metals since the 2011 high, I think a rally is sure to come very soon?   BK

Tuesday, October 1, 2013

Gold Market Commentary

Good Morning,

The precious complex is under heavy pressure this morning despite a weaker greenback and tension at the world’s #1 platinum producer that just added another layer of complexity. At midnight the U.S. government entered into partial shutdown as the plug was pulled non-essential services due to the congressional stalemate over a continuing resolution to fund the largest employer in the country and the Affordable Care Act. In South Africa, the National Union of Mineworkers (NUM) is heading to court to contest Anglo American Platinum’s planned restructuring that includes eliminating 3,300 jobs. The Association of Mineworkers and Construction Union (AMCU) has been on the picket line since last Friday and will continue the strike action as recent negations have failed to resolve the situation. On the U.S. economic front, data on construction spending and manufacturing  are on tap for today as well as September U.S. auto sales figures. Ford sales were up 5.8% last month compared to estimates of 5.0%. Gold closed Monday’s session at $1327 but has since fallen below the $1300 mark and is down nearly 2.5% to $1295. Platinum is down more than 2% to $1387 after closing the previous session at $1408. Have a great day!

Tom Hungerford
Sales and Marketing Representative

Heraeus Metals New York LLC