Chinese Gold Demand Still Strong

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Don’t be fooled by what you may be reading in the news regarding China easing its demand for gold. Much of this recent news is overlooking the big picture, “a major development with how the country now imports its precious metals.”

Jeff Clark of Casey Research reveals the truth about the Chinese gold hoard here:

The TRUTH about China’s Massive Gold Hoard

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The Valcambi CombiBar: Bullion That Fits in Your Wallet

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valcambi-2A new bullion product is gaining in popularity and for good reason! It is convenient, versatile, and internationally recognized! The Valcambi CombiBar, containing either 50 grams of gold or 100 grams of silver, is becoming the world’s favorite way to own gold or silver bullion. You can order them for direct delivery to you, but they are also approved for deposit into Precious Metals IRAs.

CombiBars are minted by 50 year old Valcambi Suisse, an LBMA approved refinery with headquarters and refining operations in south-eastern Switzerland. Their “CombiBar” is one of the newest, most unique and convenient ways to own precious metals. The 50 gram gold CombiBar is the world’s first divisible gold bar and contains 1.6075 oz of .9999 pure gold. Each 1 gram segment can be separated cleanly with just your fingers along pre-scored lines, leaving no sharp edges and no loss of material. Each 1 gram segment is also struck with the weight, purity, and the assay mark, making them easy to exchange. The silver bar works the same way but is 100 grams, easily separated into 1 gram segments, giving the owner the ability to trade or sell small quantities as necessary.

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Market Update: Precious Metals Soar On Sanctions Against Russia

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Gold, platinum, and palladium prices rose today as new sanctions on Russia increased safe haven demand. Spot palladium peaked at $895 an ounce, its highest level since February of 2001. Spot gold is up at $1,323.70 an ounce. Spot platinum rose to $1,509 an ounce.

Read today’s market news here:

U.S. Sanctions on Russia Lift Precious Metals, The Wall Street Journal

CME group throws down gauntlet in race to run gold fix, Reuters

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Precious Metals Complex Continues to Move Higher on Strong Near-Term Technical Break Out

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This week started off slow in terms of economic reports, but towards the middle of the week the activity picked up with the release of the Federal Reserve minutes and the Bank of England (BOE) monetary policy meeting on Thursday. The minutes from the last Federal Reserve meeting didn’t have any major surprises. The one talking point is the mention of completion of the tapering process by October of this year with a final $15 billion dollar taper of bond and mortgage assets. The BOE maintained their stance on a low interest rate environment and did not give any strong indications on the timing of the first interest rate hike. Speculation on the first interest rate hike has caused the British pound to surge to six-year highs this year, and it looks like it will continue to move higher after a consolidative period since the BOE is the only major central bank that may raise interest rates by early 2015. Continue reading our market analysis

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Gold Provides Risk Protection

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Download the latest free report from the World Gold Council to get a complete understanding of the macroeconomic factors contributing to gold’s performance in the first half of 2014. The WGC examines two trends that they believe make gold a reliable and affordable asset to ensure “protection and risk management” for one’s portfolio.

Read it here:

Investment Commentary: First half 2014, World Gold Council

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An Anti-Dollar Alliance is in Formation

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In efforts made to completely bypass the dollar, an anti-dollar alliance among the BRICS central banks is underway. More countries may soon be following suit with plans to abandon the U.S. dollar.

The dollar’s status as the world reserve currency may be at risk.

Read more:

BRICS set up bank to counter Western hold on global finances, Reuters

BRICS morphing into anti-dollar alliance, The Voice of Russia

France stands against US dollar as main currency for int’l transactions, The Voice of Russia

Bundesbank: yuan will become “one of the global reserve currencies”, The Voice of Russia

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Market Update: Gold Set for Sixth Weekly Rise

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Gold is on track for a sixth week of gains, up over 1% this week on safe haven demand resulting from fears about the health of one of Portugal’s biggest banks, Banco Espirito Santo (BES).

Read more here:

PRECIOUS-Gold extends winning streak to 6th week on safe-haven demand, Reuters

Thomson Reuters and CME Group will replace the existing London silver ‘fix’ with an electronic system come August 15th.

Read more about the announcement here:

Thomson Reuters, CME to Provide Electronic Replacement for Silver Fix, The Wall Street Journal

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Gold Prices March Higher on Middle East Tensions and European Bank Troubles

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Gold soared to $1,345 an ounce on Thursday, its highest level in more than three months. Gold prices got a firm boost Wednesday following statements coming out of the Federal Reserve meeting reassuring the marketplace that interest rates will remain low for a considerable time.

Continuing tensions in the Middle East, where Israel has rallied 20,000 soldiers in preparation for a possible invasion on the Gaza Strip, in addition to escalating trouble in the European bank sector, are the primary catalysts that propelled the price of gold to its three-month high on Thursday.

For more on Thursday’s market activity and the world events supporting it, read these reports from Bloomberg and The Wall Street Journal:

Gold Reaches 3-Month High, Palladium Highest Since 2001, Bloomberg

Gold Prices Soar on European Bank Worries, The Wall Street Journal

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Market Update: Gold and Silver Prices Climb Higher

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Gold and silver prices rose ahead of Fed minutes and on heightening Middle East tensions Wednesday. Gold climbed above $1,320 per ounce. Silver also moved higher, rising above $21 per ounce. The Federal Open Market Committee will release minutes from the Fed’s June 17–18th meeting later today.

Read today’s precious metals reports from Reuters, CNBC and Bloomberg:

Gold rises before Fed minutes; Palladium spikes to 13-yr. high, Reuters, CNBC

Gold Advances as Mideast Tensions Boost Haven Demand, Bloomberg

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38th U.S. Mint Director’s Proof Silver Eagle Collection

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Edmund Moy collectionThrough a very special arrangement with PCGS, Capital Gold Group is offering the extraordinary Limited Edition PR69 Deep Cameo Silver Eagle Edmund Moy Collection exclusively to our clients.

This complete, specially marked set features a total of 28 Proof 69 Deep Cameo Silver American Eagle coins minted in consecutive years dated from 1986 to 2014 (with the exception of 2009, as no Proof Silver Eagles were minted that year).

Edmund C. Moy was a chief strategist during the George W. Bush administration and helped establish the Department of Homeland Security in the wake of the September 11th terrorist attacks prior to serving as U.S. Mint Director from 2006-2011.

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