Saturday, October 1st, 2016 MST

Category: Gold

Missing: 8100 tons of gold. Please call 1-800-USTreasury if found.

Perhaps you’ve seen the stories this week about the $6.6 billion in one hundred dollar bills that the US Government managed to “lose” in Iraq back in 2003-4. Apparently, as part of the Iraqi reconstruction effort, plane loads (C-130 Hercules to be exact) of palettes containing shrink wrapped 100 dollar bills were flown in. $22 billion in all. As the Pentagon is attempting to close the books on the operation this week, it was revealed that some $6.6 billion cannot be accounted for.

Another central bank apologist pans gold

Alan Beattie, International Economy Editor of Financial Times and former economist at the Bank of England (the UK’s central bank), has produced the latest piece in the disinformation campaign against gold. In his article, “Britain was right to sell off its pile of gold,” Mr. Beattie puts forth the argument that Gordon Brown actually did

Premiums up on physical gold in Asia

Premiums on gold bars in Hong Kong are up, with concerns about Portugal’s sovereign debt seemingly the driver behind heavy buying. If Portugal is not successful later this week when it goes to the debt market, EU and IMF funds may be required. If Portugal is forced to accept EU and IMF assistance, it will be the third PIIGS nation forced to do so. While these concerns may be putting upward pressure on premiums in Hong Kong, premiums on gold bars and other forms of physical gold in the US are normal.

Have Asian buyers checkmated silver shorts?

Eric King of KingWorldNews.com blogged that his sources say Asian buyers effectively have checkmated the silver shorts. No doubt about it, there is a major battle going on in the silver markets. Volumes are at record highs, and volatility is extreme.

Abundance of gold articles, not all bullish

Mineweb.com, a South African-based website dedicated to the mining industry, is an excellent source of articles about precious metals.  With contributors around the globe, mineweb.com offers wide perspectives.  Today’s issue has four articles and a podcast, most of which should be of interest to investors with gold hitting all-time highs and silver hitting 30-year highs.

Central banks turning gold buyers

For the CBGA (Central Bank Gold Agreement) year to end September 30, central bank gold sales are estimated to be 6.2 tones, down 96% from their high of 497 tons for the CBGA year ended September 30, 2005, the year for the highest sales under the CBGA.  Over the last ten years, central banks sold

Gold & Silver Breakout

In the September 11 interview with Eric King of King World News, I mentioned that a number of credible analysts were saying that gold and silver looked like they were about the have a technical breakout to the upside.  Gold’s and silver’s price action since have confirmed those predictions. In the interview, I warned long-term

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