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Gold falls on Yellen’s assessment of economy
Associated Press ^ | May 7, 2014 3:37 PM EDT

Posted on 05/07/2014 1:08:09 PM PDT by Olog-hai

Gold is falling after Federal Reserve Chair Janet Yellen gave an upbeat assessment of the U.S. economy and said that inflation remains low. […]

Yellen’s comments suggest that the Federal Reserve is set to continue reducing its economic stimulus, lessening the threat of rising prices. Investors typically buy gold as a hedge against inflation. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Government; News/Current Events; US: District of Columbia
KEYWORDS: fed; gold; inflation; yellen

1 posted on 05/07/2014 1:08:09 PM PDT by Olog-hai
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To: Olog-hai

I’m telling William Devane and Glenn Beck.


2 posted on 05/07/2014 1:16:16 PM PDT by guido911 (Islamic terrorists are members http://www.freerepublic.com/foof the "ROP", the "religion of pu*&ies")
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To: Olog-hai

God, I wish I had extra funds! Sounds like a good time to buy.


3 posted on 05/07/2014 1:16:24 PM PDT by nomad
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To: nomad

If you do, might I recommend who I deal with, great people all.

http://www.gainesvillecoins.com/


4 posted on 05/07/2014 1:18:38 PM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Olog-hai
Janet Yellen gave an upbeat assessment of the U.S. economy and said that inflation remains low


5 posted on 05/07/2014 1:18:46 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

I guess the help buys her groceries then...


6 posted on 05/07/2014 1:20:43 PM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Olog-hai

She’s creepy and doesn’t look “right” out of her owl like eyes


7 posted on 05/07/2014 1:25:22 PM PDT by 12th_Monkey (One man one vote is a big fail, when the "one" man is an idiot.)
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To: Red in Blue PA

Inflation is low? Sure, if you don’t count food, clothing, motor fuel, electricity...


8 posted on 05/07/2014 1:29:17 PM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: Abathar

There is absolutely no inflation if you do not count energy, food, housing, or anything delivered by a truck, train or plane (all run on fuel, which of course is rising). So it is those things which are not rising in price.....cannot think of anything which fits the bill but if someone can think of something, please post it!


9 posted on 05/07/2014 1:30:08 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Red in Blue PA

>>>>Janet Yellen gave an upbeat assessment of the U.S. economy and said that inflation remains low

Last month price difference here in LEFT Coast

Milk per Gallon is now $3.59 from $3.19
Honey roasted peanuts $3.99 from $3.49
Raw Almonds $4.99 from $3.99
One Lime $0.69 from $0.25

Gas $4.24 from $3.75


10 posted on 05/07/2014 1:32:24 PM PDT by jennychase
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To: Olog-hai

The federal reserve will fix that by printing a couple hundred billion dollars.


11 posted on 05/07/2014 1:33:29 PM PDT by Blood of Tyrants (Haven't you lost enough freedoms? Support an end to the WOD now.)
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To: Olog-hai; All
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12 posted on 05/07/2014 1:35:05 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: jennychase

You’re correct of course.
And the regime’s solution will be to raise EBT payments.


13 posted on 05/07/2014 1:35:10 PM PDT by nascarnation (Toxic Baraiaq Syndrome: hopefully infecting a Dem candidate near you)
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To: Olog-hai

“..Yellen gave an upbeat assessment of the U.S. economy and said that inflation remains low..”

:::::::::::

Economy? What economy? We have not had one for over six years. More lies. Strange she did not mention the price of food, education, other goods and services including MEDICAL CARE!!!!!!!!!!!!!!!!!!!!!


14 posted on 05/07/2014 1:35:56 PM PDT by EagleUSA
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To: jennychase

There’s no inflation but my concealed carry permit
which cost $35 five years ago, now costs $80.

Not to mention a box of .22s now costs $10...


15 posted on 05/07/2014 1:38:41 PM PDT by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: Red in Blue PA

There is absolutely no inflation if you do not count everything you have to buy to live.

I understand what motivates the government to lie, but I do not understand why so many accept obvious lies so easily.

It does explain how so many bad things have happened in the past. People are stupid and pathetically gullible as well as self serving and greedy (greedy in the sense of wanting something for nothing and a piece of what others produce).

Well, we have sold our economic souls and the accounting is not far from coming due.


16 posted on 05/07/2014 1:38:50 PM PDT by ChildOfThe60s ((If you can remember the 60s.....you weren't really there)
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To: Olog-hai

Oh noes! I’d better sell my gold for Yellen bucks. Woe is me.


17 posted on 05/07/2014 1:39:28 PM PDT by Stentor (Maybe the Goldman Sachs thing is just a coincidence. /S)
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To: Olog-hai

Yellin is a lying commie


18 posted on 05/07/2014 1:40:05 PM PDT by GeronL (Vote for Conservatives not for Republicans!)
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To: tet68

If you don’t count food, energy, health insurance and stuff I guess


19 posted on 05/07/2014 1:41:21 PM PDT by GeronL (Vote for Conservatives not for Republicans!)
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To: Red in Blue PA; Olog-hai; guido911; nomad; Abathar

I’m starting to change my opinion on gold. Because of rising US oil production, I don’t think there’s a bullish case to be made for gold because of USA economic weakness or dollar weakness. USA annual oil production increases of 1 million barrels a day—shift capital flows around the world and fundamentally shift world wide perceptions about the future of the USA. This change is as big as the change brought by the Saudis when their giant CHEAP! (as in $.25-.50 @ barrel)production leaps of the late 60’s and 70’s killed US production (which had been rising steadily since wwII.)

Something else is going on in gold. There are three things that have happened recently.

the chinese have moved their port of entry for gold from hong kong to bejing. The result of this move will be that no one will know how much gold they have been purchasing. last year they purchased record amounts. Only a tiny fraction of chinese central bank reserves are currently in gold. US central bank gold reserves represent something like 60 percent of the central banks reserves. for china the last posted reserve was 1 percent. They’ll want to raise that number considerably—especially as they want to get out of their dollar reserves. (rising US oil production tends to force the dollar up—so a rising dollar discourages central bankers from ditching their dollars for gold.)

deutche bank pulled out their gold program. News is that their seat wasn’t worth much. this suggests that a seat that was once lucrative but is no longer—means that a trade is going to be ending.

another biggie. there is talk of some of the biggest gold miners merging. why now?

well the gold price is thought to be manipulated by several players including both the central banks and the gold miners.

If the shorting of gold were to end because of a rising dollar—then gold would respond more directly to supply and demand pressures — and gold would rise —especially because of the large demand from china. The chinese have been relying on western banks to hold down prices —something they won’t be able to do if western banks stop shorting gold.


20 posted on 05/07/2014 1:52:00 PM PDT by ckilmer
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To: Red in Blue PA; Olog-hai; guido911; nomad; Abathar

I’m starting to change my opinion on gold. Because of rising US oil production, I don’t think there’s a bullish case to be made for gold because of USA economic weakness or dollar weakness. USA annual oil production increases of 1 million barrels a day—shift capital flows around the world and fundamentally shift world wide perceptions about the future of the USA. This change is as big as the change brought by the Saudis when their giant CHEAP! (as in $.25-.50 @ barrel)production leaps of the late 60’s and 70’s killed US production (which had been rising steadily since wwII.)

Something else is going on in gold. There are three things that have happened recently.

the chinese have moved their port of entry for gold from hong kong to bejing. The result of this move will be that no one will know how much gold they have been purchasing. last year they purchased record amounts. Only a tiny fraction of chinese central bank reserves are currently in gold. US central bank gold reserves represent something like 60 percent of the central banks reserves. for china the last posted reserve was 1 percent. They’ll want to raise that number considerably—especially as they want to get out of their dollar reserves. (rising US oil production tends to force the dollar up—so a rising dollar discourages central bankers from ditching their dollars for gold.)

deutche bank pulled out their gold program. News is that their seat wasn’t worth much. this suggests that a seat that was once lucrative but is no longer—means that a trade is going to be ending.

another biggie. there is talk of some of the biggest gold miners merging. why now?

well the gold price is thought to be manipulated by several players including both the central banks and the gold miners.

If the shorting of gold were to end because of a rising dollar—then gold would respond more directly to supply and demand pressures — and gold would rise —especially because of the large demand from china. The chinese have been relying on western banks to hold down prices —something they won’t be able to do if western banks stop shorting gold.


21 posted on 05/07/2014 1:52:01 PM PDT by ckilmer
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To: Olog-hai
"inflation remains low."

Unless you are wasting your money on food, gasoline, electricity or other things you actually need and use.


22 posted on 05/07/2014 2:12:11 PM PDT by Iron Munro (Malaysia Flight MH370 Black Box signals reported in Bermuda Triangle)
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To: GeronL

I can verify that. I have decided to spend some money so have been buying stuff and doing stuff to our house. Just purchased a house full of really nice carpet, installation, pad, and furniture moving.....$3500. I paid the same amount 17 years ago. It has been done once again since then but was an insurance job so I don’t know what it cost.
Just got back from picking out granite for my kitchen. Total including demo and installation...$2500. First time I priced it years ago it was $5k. I recently bought a huge Ashley U shaped sectional with a chaise...$999 including delivery.
Of course my cost of gas has doubled, utilities have gone up 50% and groceries have doubled. Stuff we use every day.


23 posted on 05/07/2014 2:15:42 PM PDT by sheana
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To: sheana

Bump


24 posted on 05/07/2014 2:27:38 PM PDT by GeronL (Vote for Conservatives not for Republicans!)
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To: ckilmer

US central bank gold reserves represent something like 60 percent of the central banks reserves.

Are you sure that the US has any gold reserves! Since the last audit was 1952, how can you make that statement.


25 posted on 05/07/2014 2:52:01 PM PDT by rollin
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To: rollin

US central bank gold reserves represent something like 60 percent of the central banks reserves.

Are you sure that the US has any gold reserves! Since the last audit was 1952, how can you make that statement.
..............
You can’t have the fiat money arguement both ways. It wouldn’t make any sense for the fed to sell their gold if they could just print the money to buy them back.


26 posted on 05/07/2014 2:59:47 PM PDT by ckilmer
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To: Olog-hai

Audio of her reminds me of that Ruth Buzzie comedy character. Can’t remember the name.


27 posted on 05/07/2014 3:15:26 PM PDT by TurboZamboni (Those who make peaceful revolution impossible will make violent revolution inevitable.-JFK)
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To: Abathar

That looks like a good source. Wish I lived closer for pick up.


28 posted on 05/07/2014 3:35:19 PM PDT by ryan71 (The Partisans)
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To: ckilmer

I bought gold mining stocks for the first time in my life this year. Never thought I would be invested in gold. The nice thing about the mining stocks is that they pay a divvy while you wait as opposed to gold, and also the fact that they are high beta, assuming one has the stomach for it. Once they take off, they can really move.


29 posted on 05/08/2014 3:19:06 AM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: EagleUSA

Yep, lies. And Larry Kudlow is right, she’s chasing after solving problems (particularly in employment) that the Fed can’t solve. I don’t like her enthusiasm for inflation, either.

But her actions so far are something else: pulling back on the Fed’s shopping spree is the right direction and she’s headed there apace.


30 posted on 05/08/2014 4:49:48 AM PDT by 9YearLurker
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To: ryan71

They are, never had a hiccup with their service or quality. I like their prices on silver 1 oz. bars as well, gold is great except if you don’t have smaller denominations for the little things you might need.


31 posted on 05/08/2014 4:56:23 AM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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