Platinum Strike

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The union leading a 14-week-old strike at the world’s biggest platinum producers said it intends to outline its strategy, as South Africa’s finance minister played down the walkout’s effect on the economy. (Read more...)
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Labour relations do not look well in the platinum industry. These type of things usually end up in higher costs for all involved. Platinum is likely to rise in price as a result of these pressures. 
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Metals giving mixed messages

Metals giving mixed messages

Besides being used as a currency and store of value when inflation fears rise, gold is the original fear gauge, in high demand when the world seems uncertain and at risk. “Gold for 5,000 years keeps its value,” says George Gero, vice-president of Global Futures RBC Capital Markets and long-time gold trader. You can’t trust many currencies so people like to have some gold because it is portable, liquid, holds no allegiances and is instantly convertible to other currencies.” (Read more)

Heraeus Weekly Market Report

Gold

Gold could not hold on for too long above the 1,320 $/oz mark it reached mid-April and has been trading considerably lower for the past two weeks. Last Thursday the metal dropped to its 2 ½  month low of 1,268 $/oz; this morning we were trading at 1,302 $/oz.  Though the crisis in Ukraine and the tensions between Russia and the West continued to escalate, gold could only find limited support from it. Yet, this still remains a factor for short-term impulses and reactions to changes in the situation are to be expected. The presumption is, however, that meanwhile these events have been to a good extent already priced-in. Physical demand remains cautious. The sales figures so far from the US Mint for April were 31,500 oz; month-on-month compared to previous year a minus of over 80%. Based on this demand from “small investors” is similarly weak as that of institutional investors: ETFs have been recording daily net outflows. (Read more...)

Heraeus Metals Report

Good Morning,

The Fed has 2 essential responsibilities: to maximize employment and promote price stability. According to Yellen’s words on Wednesday, as long as employment and inflation don’t meet the Fed’s objectives, the longer it will take to see interest rates rise. The decision to raise rates is not based on any single indication, but is based on a wide range of data pertaining to the labor market, inflation, and financial developments. Yellen didn’t make any references to the “considerable” time period, but did mention that there is more slack in the job market than seen by simply looking at the unemployment rate. After a long weekend, the precious metals complex is trading in the negative territory across the board this morning. Tomorrow the AMCU and the Platinum producers will meet to discuss revised wages in hopes to end the 13 week strike. Platinum and Palladium prices are under pressure this morning (read more)

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Heraeus Weekly Report

GOLD

Last week was again a friendly week for gold and the metal gained 1.2% during the course of the week – its best performance for a month. The resistance at 1,320 $/oz could however not be sustainably broken. This morning we are slightly up, trading at 1.327 $/oz.

The tension between the USA and Russia due to the Crimean crisis had already driven gold in March to a six month high edging round the 1,400 $/oz mark and it again gave support to the metal last week. Conjectural remarks by US Secretary of State John Kerry about the potential Russian military action in Ukraine led to safe haven demand. The publication of the last FED meeting minutes (FOMC) gave more substance to gold’s case. Apparently the FED’s position on an interest-rate increase and the end of the Quantitative Easing programme, after all, appears to be slower than was assumed in previous weeks. The drivers that have been behind gold for many years thus again gained more influence. As a consequence of this assessment the USD lost in strength and the suffering of the equity markets became an advantage for gold. Missing flows into ETFs however fundamentally point towards an absence of investor interest.  Read more...

Gold is Still Best Asset in 21st Century

Dr. Paul Craig Roberts confirms that GOLD is still the best performing asset since the turn of the century.

Reasons to Save in Gold

From Futuremoneytrends.com



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Heraeus Weekly Report

GOLD

It initially looked as if gold had to accept a third consecutive week of losses. In the end, however, the metal closed the reporting period with a small profit of 0.70%. A brief rally mid-week (+1%) remained without adequate support to defend the higher price level, let alone to continue to rise. With the release of U.S. employment figures (non-farm payrolls) due on Friday afternoon some short positions had been closed. The focus was hence again on the economic situation of the U.S. and the likely reactions by the Fed in terms of monetary measures. The worse-than-expected jobs data drove gold over the threshold of 1,300 $/oz and turned around gold’s direction of recent weeks. The prospect of interest rate hikes and the end of the quantitative easing program by the Fed, which have lately weighed heavily on gold, thus lost some immediate impact. Read more...