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Gold Had Another Strong Night Joe WeisenthalApril 25, 2013After getting routed early last week, gold has definitely found its footing again. It had a strong night, and is now in the mid $1400s. At its worst point last week, it was just above $1300/oz. Via Kitco:

UPDATE: Spot Gold $1426 (from $1564 highs Friday) As Asia opens to the bloodbath that occurred in precious metals on Friday in the US, it would appear that more than a few traders got the 'tap on the shoulder'. Shanghai futures are limit-down and spot gold and silver prices are plunging once again as we suspect forced margin-calls and the raising of cash (to cover extreme variation margin - or capital reserves) needed in JGB positions, as we explained here. Liquidation is certainly the theme of the evening - investors are selling JGBs (6th day in a row of multiple-sigma...

<p>I don't "hate" gold, I simply don't care about it as an investor.</p> <p>It is utterly uninteresting to me and gold equity investing - things like paper ETFs and the shares of horrible gold miners - seems to defeat the whole purpose of an end-of-the-world asset class in the first place. I promise, should a torrent of plague and genocide wash across the land on a roaring floodtide of blood and economic catastrophe, your stupid-ass "stock market gold" shan't be left unscathed. And if I am dismissive of it as an investment, you can imagine how I feel about it as an actual real-life medium of exchange - I live in the United States of America in the 21st Century and I have no interest in exchanging dollars in my savings account for something that hedge funds and sovereign governments can pump and dump at will.</p>

The week's financial news is the collapse of the price of Gold. As of this article's publication, the highly volatile commodity had fallen below $1375 per ounce from a high of nearly $1900 in September 2011. Gold is most often traded in highly levered securities such as futures or the equity of mining corporations, so such a drop in the actual, or spot price of the metal is big news. So, why is gold falling? Some reports cite a slowing demand from China as well as Cyprus's plan to sell $500 billion in bullion as reasons for the collapse. However,...

For Americans, financial and economic Armageddon might be close at hand. The evidence for this conclusion is the concerted effort by the Federal Reserve and its dependent financial institutions to scare people away from gold and silver by driving down their prices. When gold prices hit $1,917.50 an ounce on August 23, 2011, a gain of more than $500 an ounce in less than 8 months, capping a rise over a decade from $272 at the end of December 2000, the Federal Reserve panicked. With the US dollar losing value so rapidly compared to the world standard for money, the...

"Things are looking up for the economy and, as a result, down for gold," says Nathaniel Popper at The New York Times. The value of our safe and shiny investment has slipped 17 percent since 2011, after 12 straight years of growth. "It is a remarkable turnabout for an investment that many have long regarded as one of the safest of all," Popper says. When investors are worried about the value of U.S. currency, the safety of securities investments, and the overall health of the U.S. economy, they often trade in their cash for gold. So in the frightening wake of...

Why Are The Banksters Telling Us To Sell Our Gold When They Are Hoarding Gold Like Crazy? By Michael, on April 10th, 2013 The big banks are breathlessly proclaiming that now is the time to sell your gold. They are warning that we have now entered a "bear market" for gold and that the price of gold will continue to decline for the rest of the year. So should we believe them? Well, their warnings might be more credible if the central banks of the world were not hoarding gold like crazy. During 2012, central bank gold buying was...

Wow, look what I noticed today? The European fiscal crisis must have triggered this.. Gold: $1,478/oz Silver: $25.95/oz. Platinum: $1,491.00/oz.

I had the opportunity this afternoon to connect with Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital. It was a fascinating conversation, which took place while gold was absolutely collapsing. During the interview, Peter explained that today’s sell-off, triggered by a Goldman Sachs sell recommendation was based on the “false idea” of European Central Bank gold sales hitting the market. Instead he explained, gold is preparing its move “from weak hands to strong hands”, before heading to new all-time highs. When asked his thoughts on the complete panic in the market this afternoon, Peter commented that, ”Gold...

Gold And Silver Are Getting Hammered Again Joe WeisenthalApr. 14, 2013, 9:55 PM One of the big stories from last Friday was the sharp decline in gold and silver. And that's continuing today. Here's gold. It's now below $1460/oz. And here's silver. It's fallen below $25/oz.

Gold, silver and other commodities are plunging this morning. Could it simply be that the bloom if off the commodity rose? Or is there a scent of panic about sovereign expropriations of gold and hard assets? On April 12th, European Central Bank President Mario Draghi said the profits of any gold sales by the Cypriot central bank must be used to cover losses it may sustain from emergency loans to Cypriot commercial banks. How there are rumblings of wealth taxes and seizures rumbling around the Eurozone. Wealthy households would face new taxes on property and other assets under German plans...

Gold Rout Continues By CLEMENTINE WALLOP, BIMAN MUKHERJI and FRANCESCA FREEMAN Gold continued to take a battering on the spot market Monday, shedding nearly another $100 per troy ounce after weaker than expected data on Chinese first quarter growth sparked a new wave of selling on concerns that China and India, the world's two biggest buyers, may slow purchases. The price of gold slumped to $1,400 an ounce in what appears to be panic selling after China’s first-quarter growth came in lower than expected. Other markets were also hit, with silver and other commodity prices and currencies like the Australian...

Gold Slumps More Than $85 To Two-Year LowGold futures fall, extending their dive into bear-market territory, and prices for industrial metal copper suffer following economic data from China that fall short of expectations. By Barbara Kollmeyer April 15, 2013 LONDON (MarketWatch) — Gold futures slumped more than $85 to their lowest level in over two years on Monday, as the metal dropped through key technical support levels, while the broader metals complex sank after disappointing Chinese data sparked worries of industrial metals demand. Gold for June delivery tumbled $87.40, or 5.8%, to $1,413.80 an ounce, but had dropped to as...

On The Forced Sale...Via Ross Norman of Sharps Pixley,The gold futures markets opened in New York on Friday 12th April to a monumental 3.4 million ounces (100 tonnes) of gold selling of the June futures contract in what proved to be only an opening shot. The selling took gold to the technically very important level of $1540 which was not only the low of 2012, it was also seen by many as the level which confirmed the ongoing bull run which dates back to 2000. In many traders minds it stood as a formidable support level... the line in...

“Watch The Metals, When They Dip. It Will Be A Good Indication That Things Are About To Happen.” Mac Slavo April 15th, 2013 As of this print the price of gold is reaching fresh two year lows, down nearly 25% from its all time high just six months ago. Though uninformed onlookers and financial pundits may see this as the popping of the proverbial gold bubble, the velocity and scale of the take-down in precious metals suggests that there is a massive assault in the works. According to former Assistant Treasury Secretary Paul Craig Roberts, last Friday’s price drop was...

The facts in the public domain do not justify the sharp fall in the gold price over the past two trading days. At the time of writing, the price per 1oz is $1363, down over $200 since Friday's open. The scale of the sell-off was the worst in 30 years, with the volatility index standing at the highest level in its history. John Kemp at Reuters has calculated that based on a normal distribution, you would expect to see movements like Monday's only once in every 500 million trading days, or two million years. The news which would justify such...

Gold prices continued to plummet Monday on concern that Cyprus will have to sell excess reserves of the precious metal to raise about $522 million to help finance that country's $13 billion international bailout, Dennis Gartman, editor of The Gartman Letter, told CNBC. "There are a lot of people throwing up their hands. Throwing positions overboard. Panic is everywhere," Gartman said in a "Squawk Box" interview on Monday. "I've never seen anything like this. I mean it."Article Continues Below Gartman: Major Sell Off in Oil & Gold A look at what's driving down the prices of crude and the...

The Market Is Flashing Signs Of 'Deep Instability' Joe WeisenthalApril 17, 2013, 7:17 AMThe big market story this morning is the selloff in Germany, which happened in a flash, and without an obvious explanation. Sebastien Galy of SocGen sees this as a sign of rising jitters and instability. It took only some speculation of a German downgrade to send the DAX plunging sharply lower, before it partially recovered. The sensitivity of different markets to negative surprises seems to have risen sharply recently, particularly in Europe and the broad EM spectrum. It suggests that the period of consolidation is continuing. Until...

Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash? By Michael Snyder April 15th, 2013 Somebody out there is sure getting prepared for something really big. We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades. On Monday, the price of gold had fallen by more than 10 percent at one point. It shocked investors all over the globe, and overall what we have just seen was the largest two day decline in the price of gold in 30 years. The price of silver...

Don’t Buy Gold By Greg Guenthner 04/17/13 Gold’s dropping. You want to buy. But wait just a minute… Is your desire to buy gold now based on reasonable analysis of market conditions? Or is it simply an emotional reaction to the selloff? Let’s turn to one of your letters for some answers: “Short-term I can understand your premise on gold,” writes a somewhat reasonable reader. “Markets are doing well so people head in that direction. But for the long-term, I’m a buyer. I think there’s a lot of inflation coming. So I’ll slowly buy in expecting lower priced and will...