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The chemical element Au with atomic number 79 "has never been worth zero." King Tutankhamen and the Incas had at least one thing in common - they understood the value and scarcity of gold and used it as a symbol of wealth and power. Nothing has changed since.

Even though gold is no longer used to back currencies like the dollar, it is still stockpiled by countries around the world. Since the price of gold has fluctuated dramatically, the holdings are ...

The most disturbing aspect about the Eurozone right now is that every crisis resolution strategy depends on a moderately strong economic recovery. The Greek program was already in trouble when it was agreed six weeks ago. All the official forecasts were wrong. The country is in a depression, and its debt dynamic is “out of control”, according to its new fiscal council. In Italy, the central bank expressed concern that the country’s austerity programme would have ...

To my surprise we have seen a sharp increase in the price of Gold during the month of August. Gold is usually unchanged to lower in the June to August period of the year. As I have shown in the data below, the increases in gold and silver normally start in September.  Why, because....

Central banks, net buyers of gold for the first time in a generation, are likely to retain their holdings even if they need to raise cash to counter an escalating debt crisis, according to Morgan Stanley.

“Once they’ve sold, that’s it, and buying back would be extremely expensive,” said Peter Richardson, chief metals economist at Morgan Stanley Australia Ltd., who’s studied metals markets for 20 years....

Rep. Ron Paul, a longtime critic of the Fed and advocate of the gold standard, is all in on gold and silver.  Ron Paul has consistently warned of the dangers of a Fed gone wild on easy money and a Government that has borrowed itself into financial oblivion...

Gold, at record-breaking levels as global economic worries mount, will see sustained demand from key markets India and China this year despite high prices, the World Gold Council said on Thursday.

Global demand for the second quarter to June was 919.8 tonnes, down 17 percent year-on-year, from 1,107 tonnes in the same period last year, as the "remarkably" high European investment seen earlier leveled off...

Albanian Minerals President and CEO Sahit Muja said “Silver demand in China and India is set to rise 40 per?ent in 2012″.

China said its net imports of silver nearly quadrupled to more than 3,500 metri? tons in 2010, boosted by sharp in?reases in demand by the industrial se?tor and the jewelry industry.

Silver demand in China and India has in?reased sharply in re?ent years as more investors use silver as a store of value.
About 70% of China’s silver demand ?omes from the industrial se?tors...

South Korea’s fashionably late to a party started over a decade ago

Central banks in emerging markets have decided that it’s not too late to join gold’s party.

South Korea and Mexico are among the nations whose central banks have been ramping up gold holdings lately — and they’re willing to pay the highest-ever prices for an ounce of gold to do it, even though gold’s latest rally began more than a decade ago.

Admittedly, it’s not new trend for all central banks, but one that’s speeding up as the world loses faith in the U.S. dollar and global markets.

This week by President Obama and Congress to “cure” the problem of the federal government borrowing up to the authorized debt ceiling guarantees that the U.S. dollar will deteriorate from hyperinflation.

In theory, it originally looked like the parties were headed toward a compromise that would be a bipartisan agreement to “temporarily” raise the debt limit by $1 trillion, impose virtually no spending cuts and would not increase taxes.

The actual compromise reached was much worse for Americans...

While a settlement of the U.S. debt impasse may see a sharp correction in the gold price this will only be brief with $1700 gold easily in sight this year and rock solid fundamentals suggest much higher prices in the future.,,