GoldCore's blog

First it was bail-ins and now it's the “personal pensions savings” of the European Union's citizens that could be used to help plug the gap left by banks since the financial crisis.

Yellen confirmed that the U.S. recovery is fragile and said more work is needed to restore the labor market. She signalled the Fed’s ultra loose monetary policies will continue and the Fed will continue printing $65 billion every month in order to buy U.S. government debt.

Gold has rallied another 1.2% today and touched resistance at $1,294/oz during Yellen's first testimony to Congress. Gold is testing resistance between $1,294/oz and $1,300/oz. A close above $1,300 should see gold quickly rally to test the next level of resistance at $1,360/oz.

The flow of gold from west to east is confirmed as China reports huge increase in recorded imports.

The poor jobs number today saw gold surge from a low of $1,256.55/oz to a high of $1,272/oz prior to being beaten lower back below $1,258/oz. This is the second incident of peculiar trading on the COMEX this week which is fueling manipulation suspicions.

If gold dips below $1,200 per ounce for a “sustained” period, serious production cutbacks are likely. Declining scrap or recycled gold supply, which fell to a five-year low in 2013, exacerbates a “tight supply picture”, said Artigas.

Gold rose 3.2% in January, its first monthly advance in five, as concerns about emerging markets and the Fed’s tapering led to declines in stock markets and safe haven buying.

2014? Well now, THIS could be the year that true price discovery begins in the gold market. If that turns out to be the case, it will be driven by a scramble to perfect ownership of physical gold; and to do that you will be forced to pay a lot more than $1247/oz. 

"Own physical gold because the old system will implode. Those who own paper assets are doomed."

Nearly six years after the financial crisis and its massive bailout, it looks like business as usual by the bankers in RBS and in the City of London and Wall Street ... The smart money is either continuing to accumulate physical or transporting already purchased bullion from storage in the U.S., Canada, Europe and other western countries to storage in Asia.

A story that won't go away: The German central bank 'proposing' an emergency "capital levy" in "conditions of extraordinary national crisis." 

The Financial Times no less, warns its readers that they should act like the mighty German Bundesbank and "demand physical gold." The FT also added that gold price manipulation could end in tears.

Throughout history, gold has flowed to where it is most favourably treated ... Singapore is now one of the safest places in the world to store gold. See the Essential Guide To Storing Gold In Singapore

Often “a picture paints a thousand words” and the seven key gold charts below should make gold bears nervous. As the charts show, such sentiment, price action and oversold conditions tend to coincide with major lows in gold and silver prices and multi month price gains.  

The Supply demand fundamentals of the gold market remain sound with the flow of gold from West to East. COMEX gold stocks have fallen to new record lows (see chart) showing demand for physical bullion remains very robust. Indeed, the scale of the fall in COMEX gold stocks since 2007 and which accelerated in early April 2013 is important to note.