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Robert Kientz: Gold, silver market suppression failures flash buy signal

August 31, 2010 by · Leave a Comment 

10:57a ET Tuesday, August 31, 2010

Dear Friend of GATA and Gold:

GATA’s work continues to gain recognition and credibility, as demonstrated today by a series of essays that has begun to be posted at Seeking Alpha by Robert Kientz, an auditor and former broker and currency market analyst. The essays are titled “Gold and Silver Market Suppression Failures Flash Buy Signal” and you can find the first part at Seeking Alpha here:

http://seekingalpha.com/article/223037-gold-and-silver-market-suppressio…

And Part 2 here:

http://seekingalpha.com/article/223091-gold-and-silver-market-suppressio…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Now that GATA can be quoted, can central banks be asked?

August 31, 2010 by · Leave a Comment 

6:06p ET Monday, August 30, 2010

Dear Friend of GATA and Gold:

For years GATA banged on the door of the Financial Times, including a meeting in London with the newspaper’s commodities reporter a year and a half ago, trying to get some attention for the international central bank gold price suppression scheme. The clamor went without result until this weekend, when the FT published a long story about gold by the paper’s personal finance reporter, Ellen Kelleher, which was also in large part about GATA’s work. The interview with GATA Chairman Bill Murphy that was cited in the story took place more than three months ago, indicating perhaps the sensitivity of the issue to this organ of the financial establishment.

Of course GATA is grateful for the FT story, for a few reasons:

– It called GATA and the gold price suppression scheme to the attention of a large and influential audience, though perhaps much of the most influential part of that audience already had its own suspicions about the gold market.

– It showed that GATA has some respectable and important support, citing the British investment banker Adam Fleming, U.S. Rep. Ron Paul, and market analyst Paul Mylchreest.

– It disparaged the gold dishoarding begun by the British government in 1999, at the bottom of the gold market.

– It raised doubt about the competence of the government agencies in charge of the international financial system.

– And it was able to find only the weakest criticism of GATA’s work, quoting Martin Murenbeeld of Dundee Wealth Economics: “‘It’s bunk. … It’s a massive conceit on the part of gold people to think that gold is so important that the Federal Reserve and the president of the United States are out there manipulating the gold price.”

Of course to GATA this is not a “massive conceit” at all but a close examination of public record, which is exactly what technical analysts like Murenbeeld arrogantly refuse to undertake. For starters, at least four chairmen of the Federal Reserve Board have publicly implicated the Fed in the gold price suppression scheme:

http://www.gata.org/node/8962

Before ridiculing gold price suppression as “bunk” and a “massive conceit,” did Murenbeeld ever try to put any critical questions about gold policy to the Fed, the Treasury Department, or other central banks? Has Murenbeeld ever gotten and published a clear denial of their surreptitious involvement in the gold market? Has he reviewed all central bank correspondence and other communication with investment banks in regard to the gold market, like the communication the Fed insists on keeping secret as GATA sues the Fed in U.S. District Court for the District of Columbia under the Freedom of Information Act? Has Murenbeeld seen the gold swap agreements the Fed acknowledges having with foreign banks, agreements the Fed says are “properly withheld” from the public?

Of course not. Just as in establishment journalism, in technical analysis of the gold market, seeking answers from the primary sources just isn’t done. Despite citing GATA so prominently, the FT’s weekend story about gold didn’t go to the primary sources either — not once. This is still considered bad manners. But it’s more than that with technical analysts like Murenbeeld. For going to the primary sources risks exposing their work, their entire careers, as meaningless. The “massive conceit” is actually technical analysis of manipulated markets.

As KAM LP fund manager Michael Kreiger wrote Friday in his essay “The Elites Have Lost the Right to Rule,” posted at Zero Hedge (http://www.zerohedge.com/article/elites-have-lost-right-rule), “… the markets are a hologram put in front of you by the magicians at the Fed.” That is, more than the gold market is an illusion, surreptitious central bank market intervention having become so pervasive over the last few years.

Your secretary/treasurer put it this way at GATA’s Washington conference in April 2008 (http://www.gata.org/node/6242):

“One market intervention encourages another and another and increases the political pressure to keep intervening to benefit special interests rather than the general interest — to benefit especially the financial interests, the banking and investment banking industries. These interventions, subsidies to special interests, increasingly are needed to prevent the previous imbalances from imploding. And so we have come to an era of daily market interventions by central banks — so much so that the main purpose of central banking now is to prevent ordinary markets from happening at all.”

A year and a half ago and again this year GATA presented the Financial Times with its complete file of public record documenting the gold price suppression scheme:

http://www.gata.org/taxonomy/term/21

As far as GATA knows, this file is yet to be quoted from or presented to central bankers by respectable journalistic publications seeking an explanation. But the weekend’s FT story is a first step. Perhaps in time journalists for other publications or even the FT itself will try demanding answers from the primary source, the way it used to be done in journalism. If GATA now can be at least mentioned even in the Financial Times, real journalism can’t be far away — along with the end of the gold price suppression scheme.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Backlash over China’s curb on rare-earth metal exports

August 31, 2010 by · Leave a Comment 

By Ambrose Evans-Pritchard
The Telegraph, London
Sunday, August 30, 2010

http://www.telegraph.co.uk/finance/newsbysector/industry/mining/7970872/…

China’s draconian export curbs on rare earth minerals needed by the rest of the world for frontier technologies is escalating into a serious diplomatic and trade clash with the United States and other leading powers.

Japan’s foreign minister Katsuya Okada issued what amounted to a formal protest at top-level meeting with Chinese officials in Beijing over the weekend, saying the sudden cut-off was “affecting the global production chain.”

It is the latest sign of rising pressure after angry complaints by companies outside China that rely on this family of 17 metals for hybrid cars, mobile phones, superconductors, navigation, and a host of high-tech industries.

China’s commerce minister Chen Deming said that Beijing would not back down over the export quotas. “Mass extraction of rare earth will cause great damage to the environment, that’s why China has tightened controls,” he said, repeating the official line.

Beijing set off shockwaves in early July when it announced a 72 percent reduction in rare earth exports over the second half of this year. The country has acquired a near monopoly, with 97 percent of global output after under-cutting the rest of the world with Mongolian ores in the 1990s. The sudden cut-off since July has drastically restricted supplies to the rest of world.

The last US mine shut 14 years ago, discouraged by tough US environmental rules. The US General Accounting Office said China now has a “dominant position” with market power. “Rebuilding a US rare earth supply chain may take up to 15 years,” it said.

Washington is examining claims that China’s curbs breach World Trade Organisation rules by giving preferential access to Chinese companies. The US Trade Representative is collecting data from US firms to assess the basis for a legal challenge. There are strong suspicions that Beijing’s aim is to force foreign companies to locate technology plants in China.

Baotou Steel High Tech Co. said in February that it was building storage space for 200,000 tonnes of rare earth oxides. The company has since been told to stockpile metals by party bosses in Inner Mongolia. China Daily reports that Baotou and Jiangxi Copper are aligning their policies and now “virtually control” the market.

China claims it will need a growing proportion of these metals for its own industries, but US and Japanese officials say privately that Beijing’s methods are not in keeping with the WTO ethos. Japan has already drafted a “Strategy For Enhancing Stable Supplies of Rare Metals” and has been stockpiling.

Rare earth metals are sprinkled in iPads, BlackBerrys, plasma TVs, lasers, wind turbines, hybrid engines, and smart bombs. They cannot easily be replaced, if at all. Neodymium enhances magnets at high heat, and cerium is used in catalytic converters.

Rare earth ores are not in fact rare, merely scattered and costly to extract. There are ample reserves in the US,
Australia, Canada, Russia, and Greenland. A number of explorers are reopening mines but will not produce significant amounts until mid-decade.

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gold and Silver Market Suppression Failures Flash Buy Signal, Part 2

August 31, 2010 by · Leave a Comment 

Robert Kientz submits:

In of this 5-part series, we discussed two agreements that Central Banks used to suppress the price of gold in the marketplace. Please read Part I before proceeding with this article.

So do the Central Banks still have gold?

A nice quote from the GATA article regarding availability of Canadian central bank gold:

When I published my essay “When Irish Eyes are Smiling: the story of Brian Mulroney and Canada’s gold,” the good folks at the Bank of Canada told me that there had been no physical gold in the bank vaults for years. To quote my essay directly:

“They advised me (early in 2002) that Canada does not really own this gold at all (at the time we were supposed to have about 40 tonnes). What was left of it had been leased out to various bullion banks years ago …and yes, it (was) being accounted for as requested by International Monetary Fund accounting rules regarding leased gold. Canada’s gold cupboard is bare … not a 400-oz. good-delivery bar in sight.”

What about the US gold stocks?

In a book written by Chris Weber and summarized on Lew Rockwell’s site, we noted that in the one audit of Fort Knox:

The shocking admission Ft Knox holds very little good delivery gold was made to Mr. Durell by the chief official of the General Accounting Office (GAO).

By February 1975 Saxbe was Ambassador to India, so Durell communicated his displeasure through his local Virginia congressman.

As a result of this, the GAO sent four men to Durell’s Virginia farm to try to convince him of the validity of their accounting practices. In charge was Hyman Krieger, the GAO’s Washington regional manager.

The one concrete piece of information to emerge from this meeting was a bombshell. Krieger admitted that only a small part – 24.4 million ounces – of the official gold was of a quality of .995 or better. In other words, less than 10% of the 264 million ounce held by the Treasury could be considered good delivery gold.

Krieger confirmed this in a letter to Durell of April 11, 1975:

We analyzed, as agreed, the gold bar schedules for Fort Knox and found that fine gold in good delivery form (.995 or better) at Fort Knox totaled 24,411,140 ounces.

Note that an audit of Fort Knox has not been allowed since. Well, where did all this central bank-owned gold go? There are several ways to dispose of it, including selling, leasing, and swapping it.

Gold Sales

The first example comes from the Bank of England. The BoE, in June 1999, auctioned off gold reserves to the lowest bidder. In the linked announcement you will find the following:

Under the single price format, valid bids will be ranked in descending order of price, and allotments will be made in multiples of 400 ounces to bidders whose bids are at or above the lowest price at which the Bank of England decides that any bid should be accepted (the “lowest accepted price ”). Applicants whose bids are accepted will be allotted ounces of gold at the lowest accepted price. Bids above the lowest accepted price will be allotted in full at the lowest accepted price.

So, um.. I give you the lowest price for your gold and I win? Man, if only people on Ebay (EBAY) would follow this logic.

It is a matter of historical record that the BoE received a horrible deal, as prices have risen to 6 times those auction sales. I guess the brilliant English politicos didn’t act in the people’s best interest to preserve the country’s wealth. Oops.

So what does Bank of England Governor Eddie George have to say about gold price suppression?

In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999: George said

We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.

Sell Signal on 36% Profit Gain Has Analysts in Denial; Less than 29% of Stocks Worldwide are Buys

August 31, 2010 by · Leave a Comment 

By Rita Nazareth and Lynn Thomasson

Aug. 30 (Bloomberg) — Meyer Shields says earnings at
Warren Buffett’s Berkshire Hathaway Inc. will increase the most
since 2006 this year. He’s also telling investors to sell the
shares because the economic recovery is weakening.

The Stifel Nicolaus & Co. analyst has plenty of company.
For the first time since at least 1997, fewer than 29 percent of
ratings for stocks covered by brokerages worldwide are “buys,”
according to 159,919 recommendations compiled by Bloomberg.
Analysts are turning more pessimistic even as they push up
estimates for profit growth among Standard & Poor’s 500 Index
companies to 36 percent, the highest since 1988.

“People are sitting on a fence,” said Paul Zemsky, the
New York-based head of asset allocation for ING Investment
Management, which oversees $550 billion. “When I go and talk to
our equity analysts, they look at the companies and say, ‘Boy
these companies look pretty good, earnings are OK, they have
plenty of cash. What if there’s a double dip?’”

Conflicting announcements two minutes apart by Intel Corp.
and Federal Reserve Chairman Ben S. Bernanke last week
underscore the challenges facing analysts and investors even as
stocks trade at a lower price relative to estimated earnings
than almost any time on record. Intel cut its third-quarter
revenue forecast, citing weaker-than-expected consumer demand.
Bernanke said the central bank “will do all that it can” to
safeguard the recovery.

Stand Still

More than 54 percent of ratings for companies in the U.S.,
U.K., Japan and Brazil are “holds,” the highest level since
Bloomberg began tracking the data in 1997. While the proportion
of “sell” ratings in the U.S. has fallen to 5.1 percent, half
the level of 2003, the total combined with “holds” reached a
record 71 percent last month, the data show.

“A ‘neutral’ usually means historically a ‘sell,’” said Kevin Rendino, a money manager at New York-based BlackRock Inc.,
which oversees about $3.2 trillion. “Ratings chase stock
prices. When everyone becomes risk averse, they don’t want to
stick their necks out.”

While pessimism is increasing, analysts say profits for
companies in the MSCI World Index of 24 developed nations will
gain 28 percent in the next year. The MSCI index trades at 11.5
times forecast earnings, data compiled by Bloomberg show. Except
for the six months starting October 2008, the index has never
traded below 12.5 times reported earnings.

Topping Estimates

Trading on Aug. 27 illustrated the mixed messages facing
investors this year.

Stock-index futures jumped at 8:30 a.m. when the Commerce
Department revised its second-quarter economic growth estimate
to a 1.6 percent annual pace, below the initial assessment of
2.4 percent reported last month, yet beating the 1.4 percent
median forecast from a Bloomberg survey of 81 economists. The
market opened higher, with the S&P 500 advancing 0.2 percent.

The gains were erased just before 10 a.m. when Intel said
consumers were curtailing computer purchases. Two minutes later,
Bernanke sparked a 1.7 percent rally in the S&P 500 by
predicting an improving economy in 2011.

“This market has been whipsawing us back and forth,” said
Mike Ryan, the New York-based head of wealth management research
for the Americas at UBS Financial Services Inc., which oversees
about $641 billion. “People are interpreting each and every
data point either for validation or for repudiation of the view
they hold.”

Economic Surprise

Gains on Aug. 27 trimmed the S&P 500’s weekly decline to
0.7 percent, closing at 1,064.59. The gauge fell 1.5 percent to
1,048.92 at 4 p.m. in New York.

The benchmark gauge for U.S. equities is down 4.5 percent
in 2010 after Europe’s debt crisis wiped out an increase of as
much as 9.2 percent. Citigroup’s Economic Surprise Index showing
how much U.S. economic data is differing from forecasts fell to
minus 64 on Aug. 25, the lowest since January 2009.

Analysts from Stifel’s Shields to Oppenheimer & Co.’s Rick
Schafer and Anthony Gallo at Wells Fargo Securities LLC are
advising clients against buying shares of Berkshire, Intel and
C.H. Robinson Worldwide Inc. even after boosting profit
forecasts.

Shields says his biggest concern is that joblessness will
weaken consumer spending, which accounts for 70 percent of the
American economy. The unemployment rate held at 9.5 percent for
a second month in July and has fallen less than a percentage
point from the 26-year high of 10.1 percent last year, according
to the Labor Department in Washington.

‘Much Worse’

“It’s negativity on the economy and therefore the ‘sell’
rating on Berkshire,” Shields said in an interview from
Baltimore. “Employment is much worse than what people have
anticipated. That uncertainty is contributing to weaker-than-
desired employment and if I had to pick one single factor that
underlies our negativity, that’s what it is.”

Shields forecast on Aug. 9 that Omaha, Nebraska-based
Berkshire will earn $6,381 a share for all of 2010, an increase
from his previous estimate of $5,866. The company’s Class A
shares, which carry greater voting rights, have rallied 19
percent to $118,100 this year. The Class B stock of the firm,
whose holdings in railroads, insurers and newspapers make it a
proxy for the U.S. economy, rose 20 percent to $78.78 in 2010.

E. William Stone, chief investment strategist at PNC Wealth
Management in Philadelphia, says rising “hold” and “sell”
recommendations are bullish because it means investors can find
and wait for analysts to change their minds. He favors
shares of technology makers and industrial companies.

‘A Little Nervous’

“Everybody is a little nervous to go out on the edge,”
said Stone, whose firm oversees $103 billion. “That’s a
positive. It gives the opportunity to either buy stuff that
should be somewhere else. Maybe it’s a good company that’s being
dragged down by the overall market.”

Profits for companies in the are forecast to reach
$83.34 a share in 2010 and climb 22 percent in the next 12
months to a record $92.15 a share. Even slowing economic growth
wouldn’t mean a stock-market crash, according to Laszlo Birinyi
of Birinyi Associates Inc., which cut its year-end estimate for
the S&P 500 to 1,225 from 1,325 on Aug. 25.

“While joblessness continues and the economy sputters, we
would not necessarily ignore, but would instead downplay the
vocal economists who believe another recession is upcoming,”
the firm wrote. “There is a significant difference between the
stock market and the economy. While both might be housed in the
same building, they live on different floors.”

Bad Debt

Higher earnings don’t always make shares attractive to
investors. At American Express Co., improving profits reflect
the reversal of previous bad-debt reserves rather than a revival
in consumer spending, said Jason Arnold, an analyst at RBC
Capital Markets. He raised his 2010 earnings estimate for the
New York-based company to $2.89 a share from $2.54 a share on
Aug. 1.

“The estimate increase doesn’t reflect our outlook for a
dramatic improvement in fundamentals,” Arnold said in an
interview from San Francisco. Earnings are growing “not because
they are seeing a tremendous pick-up in core performance, but
because they are releasing credit reserves and are cutting
expenses. It’s been more of a sugar high,” he said.

The likelihood that Intel’s profit margins will narrow
should keep investors from buying the stock, according to
Schafer at Oppenheimer. The Denver-based analyst boosted his
2010 profit projection by 12 percent and raised his 2011
forecast by 13 percent on July 14, while telling clients to hold
the shares.

‘Peak Earnings’

“I’m no macroeconomist, but you’re certainly seeing data
that suggests that things are slowing down,” Schafer said in an
interview Aug. 26, the day before Intel lowered its sales
forecast. “We’re underweight semis as a sector. We have seen
peak earnings and most likely peak gross margins for this
particular cycle.”

Schafer cut his 2010 and 2011 earnings estimates by 12
percent and 30 percent following Intel’s Aug. 27 announcement.
The outlook from the Santa Clara, California-based company,
whose chips run more than 80 percent of the world’s PCs, adds to
evidence that the U.S. economic recovery is losing steam.

Wells Fargo analyst Anthony Gallo raised his 2010 profit
forecast for C.H. Robinson last month and kept the “market
perform” rating he has had since February. The Baltimore-based
analyst said the transportation services company had earnings
growth even as margins contract. He sees the shares as “fairly
valued” given the economic uncertainties.

‘Hard to Envision’

“A catalyst on the horizon? It’s hard to envision one
right now,” Gallo said in an interview. “We’ve seen a
moderation in the rate of growth. We expect that to continue
into the end of the year.” While expense cuts could help the
Eden Prairie, Minnesota-based company, “it’s hard to see how
that would be enough to continue to push estimates higher.”

The possibility revenue will disappoint investors is reason
to sell shares of Dallas-based Texas Instruments Inc., said
Daniel A. Berenbaum, who covers the stock for Auriga USA LLC, a
New York-based research and trading company owned by Spanish
investment firm Auriga Securities S.V. Sales at the second-
largest U.S. chipmaker will surge 34 percent this year, rise 3
percent in 2011 and slump 1 percent in 2012, based on analysts’
estimates tracked by Bloomberg.

“The higher it goes now, the lower it could potentially go
in the future,” said Berenbaum, who boosted his sales and
earnings estimates for the technology maker last month. “I’m
not inclined to raise my ‘sell’ rating.”

Lockstep

Wall Street firms are becoming more reluctant to award
“buy” ratings because U.S. stocks are moving in lockstep with
the S&P 500, limiting the opportunity for analysts to identify
relative value, said John Praveen, chief investment strategist
at Prudential International Investments Advisers LLC.

The correlation between the U.S. equity benchmark and its
individual members was 0.81 in the 50 trading days through July
7 and has since remained close to that level, Birinyi data show.
That’s almost twice the historical average of 0.45 from the past
30 years. A higher number means moves in individual stocks are
increasingly related to the direction of the index as a whole
and not on their own earnings prospects or , the
Westport, Connecticut-based research firm said.

“There’s a high amount of uncertainty,” said Newark, New
Jersey-based Praveen, whose firm oversees $690 billion.
“Analysts are trying not to stick out their necks. They are
probably not really sure about how the economy is going to play
out over the next couple of months. They are using that as an
excuse to play it safe.”

Read more….

Gold Rushing On

August 31, 2010 by · Leave a Comment 

Aug 26 2010 10:07AM

The World Gold Council’s latest quarterly
recap of the gold market confirms much of the big-picture story we
already knew: demand is strong (up 36 percent from a year earlier),
supply (up 18 percent) is not keeping pace, and global economic worries
are driving investors toward gold as a safe haven.

Drilling down a little further turns up a number of interesting points:

  • Investment demand in the second quarter of 2010
    (red bar in the chart) more than doubled compared to the same
    period in 2009, and accounted for more than half of total global
    demand. Investors bought the most gold since the first quarter of
    2009, at the depths of the Great Recession.

  • Demand from exchange-traded funds rose more than
    400 percent to about 291 metric tons (9.4 million troy ounces),
    and retail investors bought about 30 percent more bars, coins and
    gold in other forms.

  • Industrial demand is approaching pre-recession
    levels. The WGC credits the growing popularity of new consumer
    devices like iPads, Kindle electronic readers and netbook
    computers with driving this trend.

  • Jewelry demand is down only slightly
    year-over-year, even though the gold price has risen from the
    $900+ per ounce range to $1,200 per ounce. In Hong Kong, for example,
    jewelry demand rose more than 30 percent in physical terms and
    nearly 80 percent in U.S. dollar terms.

The WGC says it foresees strong gold demand
through the end of 2010, with India and China leading the way, along
with concerns about economic recovery and the massive sovereign debt
loads in Western Europe and elsewhere.

So far August has been an unusually good
month for gold – as of midday today, the price is up 6 percent this
month, where historically the August price tends to rise only 2.5
percent above July.

We recently wrote
about gold seasonality – September, just a few days away now, is on
average the best month for both gold and gold equities.  

We also have written about gold in the context of the global economic uncertainty and also about China’s important role in future gold demand.

All opinions expressed and data provided
are subject to change without notice. Some of these opinions may not be
appropriate to every investor.

by Frank Holmes
CEO and Chief Investment Officer
U.S. Global Investors

Read more….

Canadian Maple Leafs ‘among the purest gold coins’

August 31, 2010 by · Leave a Comment 

Collectors of gold coins have been told that Canadian Maple Leafs are among the purest examples available.
Asia One Business reports that investors with limited funds could find gold bullion to suit their needs, as holding smaller numbers of gold coins is often recommended.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

William Woodin ‘may have saved gold coins’

August 31, 2010 by · Leave a Comment 

Gold coins minted prior to 1933 may owe their survival in part to former secretary of the US Treasury William Hartman Woodin, reports Numismaster.
He served as Treasury secretary to Franklin Delano Roosevelt ahead of March 10th, 1933.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Gold Canada caribou coin ‘not likely to last long’

August 31, 2010 by · Leave a Comment 

While the gold Canada caribou coin is still available direct from the Royal Canadian Mint, stocks are unlikely to last for long, reports Coin Blogger.
The information provider notes that the gold coins were created specifically for the purpose of collecting – rather than being intended to be used as legal tender.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

Gold ‘maintains safe haven position’

August 31, 2010 by · Leave a Comment 

Gold has maintained its position as the premier safe haven for investors, it has been claimed.
Choosing to buy bullion over stocks and shares in companies offers a number of benefits to investors, in particular a reduced level of risk.
The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Read more….

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