News Articles

No one knows exactly how much gold China has – but we know it’s a lot. Last disclosed in April 2009, China gold reserves were at 1,054 tonnes. At least, that was the official number You see, China only reports its gold reserves every few years. The most recent number suggests . . . .

It is a bit hard to fathom but nearly three years have lapsed since I penned a rant called “Why Gold Stocks Suck” (Mercenary Musing, April 30, 2012) after a Cambridge House conference in Calgary.

At that time, I had little inkling that the bear market for gold exploration and mining companies would continue into its fifth year and be deeper now than in the spring of 2012 . . . .

Kazakhstan boosted gold reserves for a 29th straight month as Russia and Ukraine maintained holdings, the International Monetary Fund said . . . .

Gold has increased for five straight days and is now positive for the year 2015. According to one top financial technician, who works at Bank of America, the rally has just begun . . . .

Three things support this conclusion: hedge funds, gold stocks, and the macro environment. How strongly will gold bounce? That depends on other asset markets and the US dollar. If the US stock market corrects along with the dollar, the recovery in gold and gold stocks should be fierce, fueled initially by short covering . . . .

A strong dollar means a low gold price, or does it? Gold is actually one of the world’s best performing currencies this year, off just a couple of per cent compared with double-digits for the euro . . . .

From a seasonal perspective, gold tends to be a bit weak from late February until the end of the first or second week in March. Note the black arrow that I put on the chart. Also, the US Employment Situation report is scheduled for release on Friday, and gold has a tendency to often decline going into that report, and then rally nicely for several weeks after the report is released . . . .

The gold markets are at a point where two strong trend lines are about to intersect. The outcome of the face-off will determine the direction of gold markets for the next few months . . . .

Technology giant Apple (NASDAQ:AAPL) may soon buy up one third of the world’s gold in order to meet the demands of its highly anticipated Apple Watch, according to reports . . . .

For many years most of the perennially bullish precious metals commentators ... have been claiming that precious metals prices are being heavily manipulated by the big commercial banks in collusion with the U.S. Fed and other central banks ... citing as evidence various documentation ... obtained under freedom of information requests. It has always been the gold bulls’ gripe that the evidence they have come up with has been totally ignored by the mainstream media, but is this all changing . . . .