U.S. Mint’s American Gold Eagle Sales Increase Again

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The U.S. Mint’s American Eagle gold bullion sales head for a second monthly increase, with a reported 56,500 ounces sold so far in October, its highest monthly sales since January and more than double the demand in September. A Reuters article released this week attributes the increase in sales to heightened global uncertainty and growing interest from retail investors in Asia and Europe.

Read the full report here:

U.S. Mint’s Eagle gold coin October sales are highest since January, Reuters

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Alan Greenspan: Price of Gold Will Rise

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Former Fed Chairman, Alan Greenspan, expressed serious concern with the future of US monetary policy in a meeting with the Council on Foreign Relations Wednesday. He stated that the Fed’s quantitative easing program “fell short of its goals”, failing to reduce unemployment and reinvigorate the economy. With the third round of quantitative easing scheduled to end this week, he argues that the Fed will not be able to bring easy-money policies to a complete halt without “trouble”.

In a discussion regarding the Fed’s balance sheet and the price of gold at the New Orleans Investment Conference this past weekend, Alan Greenspan made these remarks:

The Fed’s balance sheet is a pile of tinder, but it hasn’t been lit…inflation will eventually have to rise.

Gold has always been accepted without reference to any other guarantee.

Q: Where will the price of gold be in 5 years?
Greenspan: Higher.
Q: How much?
Greenspan: Measurably.

Renowned investor, Axel Merk, reports on the conference and his insights into Greenspan’s comments in his latest article, Greenspan: The Price of Gold Will Rise.

For more on Alan Greenspan’s doubts regarding the outcome of the Federal Reserve’s bond buying program, read:

Former Fed Chief Greenspan Worried About Future of Monetary Policy, The Wall Street Journal

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Investor Demand for Silver to Reach One Billion Ounces

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A recent press release uncovers new research from The Silver Institute projecting investment demand for silver to increase by 1 billion ounces over the next decade. Compare this number to the 800 million ounces of silver purchased for investment purposes since 2006, and 1 billion undoubtedly becomes a likely impressive win for gold’s little brother.

The institute draws its conclusion on various factors, including a continuing weak global economy and an increasing need for silver’s industrial uses.

Download the full report here:

Total Silver Investment May Increase By One Billion Ounces Over the Next Decade, The Silver Institute

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Switzerland About to Purchase 1,500 Tonnes of Gold?

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November 30th, 2014 will likely change the gold market forever. On that day, the Swiss people will vote on a referendum that would restrict their government from printing paper money and would instead, force it to purchase physical gold bullion — 1,500 tonnes of it over the next three years!

A yay vote on this referendum will have a tremendous widespread effect. It will: Continue reading our market analysis

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Warnings from the IMF

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In a recent Reuters article, The International Monetary Fund’s managing director, Christine Lagarde, cautioned that the global economy’s growth will likely remain dormant for a considerable time as countries struggle to get out of debt. Her concerns, which she refers to as the “clouds on the horizon”, are:

  • Divergence between the central banks in their plans to raise interest rates
  • The consequences of continuing loose monetary policies
  • Geopolitical risks, such as the conflicts in Ukraine and the Middle East, and the Ebola outbreak in West Africa

Due to the IMF’s conclusion that the global economy is “weak and uneven”, it has downgraded its global growth forecast for this year and next.

Read more about the troubling signs pointing to a sluggish recovery in these headlines:

UPDATE 1-IMF’s Lagarde says global recovery ‘not good enough’, Reuters

No Happy Ending for Investors in Central Bank Fairy Tale, Bloomberg

The IMF’s $3.8 trillion warning to the Fed, MarketWatch

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U.S. Stock Markets Wobble Violently as Traders Look to the Federal Reserve for Directional Clues

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On the global front, most of the geopolitical events that have been taking center stage have simmered down over the last two weeks, but the markets have been extremely volatile. The most important event last week was the release of the Federal Reserve meeting minutes, otherwise referred to as the FOMC minutes. In the immediate aftermath of the release, the equity market shot up and the US dollar had its biggest drop in at least a month. All this because the FED signaled worries about a slowdown in the global economy and hinted at lingering concerns on US dollar strength. As the week came to an end, the equity markets had completely reversed that initial movement higher and closed the week on a negative tone, and the currencies that trade against the dollar had also retraced most of their upward movements and were looking quite somber.

Gold Finds Strong Buying Support after Sell Off

Now let’s take a look at the technical developments in the gold market. As I had mentioned in my last report, I expected the gold market to come lower and test its strong support band in the $1,185 region and then garner significant buying interest at that level. This is exactly what transpired in the early hours of October 5th — the gold market tested the $1,185 band and then a strong wave of buying ensued while most of North America was sound asleep. The price of gold snapped back about $50 dollars in a couple days and encountered some tough resistance at the $1,232–35 bands. The market looks like it wants to digest some of these gains and possibly test the next level at $1,250–$1,275. In my opinion, with the seasonal demand for gold coming up, we could see this market try to test higher. It will find strong resistance at the $1,275 level and how it behaves at that pivotal level will be telling on what prices want to do in the near term. Continue reading our market analysis

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Edmund Moy On Gold’s Timeless Value and Soaring Demand

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In a recent interview with Fox Business, former U.S. Mint Director Edmund Moy discusses gold’s timeless value. Not only has the U.S. Mint’s gold bullion sales doubled in September, but Moy makes a strong argument for gold supported by these 3 valid points:

  1. Stocks can fall to zero; gold will never go to zero because it has maintained its value since the beginning of history.
  2. Gold miners cannot afford to produce more gold under the $1,200 per ounce mark and therefore supply can become very limited.
  3. Demand for gold in the East continues to be very high.

Watch the full Fox Business interview here:

Skip Bitcoin, Buy Gold?

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Demand for Gold is Still Strong…

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While the mass media has us believing that gold demand is soft, the U.S. Mint reported this week that gold coin sales have doubled in September!

Additionally, there is solid evidence of the world’s wealthiest investors stockpiling the yellow metal. Do they know something the rest of us don’t?

Read these latest headlines to learn the truth about current demand for gold.

Chinese gold buying picks up after holiday; Indian premiums rise, Reuters

U.S. Mint Gold-Coin Sales Double in Month as Futures Drop, Bloomberg

Gold price: The world’s wealthy are snapping up bullion, The Sydney Morning Herald

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A “Golden” Buying Opportunity Not to Be Missed

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gold coinsGold prices dropped lower on Friday due to a better-than-expected jobs data report and on the anticipation that interest rates will be lifted in the first half of 2015. Gold prices may be at their lowest, but with Middle East tensions not likely to cease during our lifetime, a volatile stock market, and other countries setting out to abandon the petrodollar, physical gold is and will always be a crucial component of a bulletproof portfolio.

For long-term gold investors, we recommend a steady process where you look at a monthly or quarterly basis of buying gold during your specified time-frame. Dips such as this provide a great buying opportunity to add to your long-term position by buying at a discounted price. Adding to your long-term position during dips maximizes your long-term profits by getting in at a lower level.

When looking for a buying opportunity, a pullback such as this where we’re getting down below the $1,200 an ounce level makes a buy very interesting. It’s much more reasonable to buy at these prices. So for long-term investors, this pullback provides a great opportunity to add to your position.

Tune in to this week’s edition of The Gold Show to learn about the long-term benefits of owning physical gold and the market indicators to be closely aware of in planning your financial future.

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Four Reasons to Hold Onto Your Gold

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In a recent interview held at the Clinton Global Initiative, renowned resource investor, Frank Giustra, emphasized that All the reasons why gold went to $2,000 in the first place are still there, and in spades.

Frank Giustra supports his argument with these four valid reasons:

  • Currencies worldwide are being devalued due to excessive money printing
  • Governments are still running deficits
  • U.S. debt is unsustainable
  • The ramifications that will follow the end of the Federal Reserve’s bond buying program in October are likely to be hazardous to the economy.

Read the full interview here:

Reasons Gold Neared $2,000 Still In Place – Frank Giustra, Kitco News

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