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Tony Robbins Bullish On Gold - Faber and Bass His Financial Gurus

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Today's AM fix was USD 1,619.00, EUR 1,289.83, and GBP 1,044.65 per ounce.
Yesterday’s AM fix was USD 1,612.75, EUR 1,286.19, and GBP 1,034.94 per ounce.

Gold climbed $7.20 or 0.45% yesterday in New York and closed at $1,618.80/oz.  Gold traded sideways in Asia prior to a sudden buying bout which saw gold rise from $1,618/oz to $1,625/oz. Those gains have gradually been given up in European trading where gold is now trading near yesterday’s close.   


White – XAU/EUR, Orange – XAU/USD, Yellow – XAU/GBP, Green – XAU/CHF, Red – XAU/NOK – (Bloomberg)

Gold appears to be consolidating after hitting its 4th session of gains, when weak US economic data, in the form of poor retail sales, led to renewed QE chatter.

Gold is likely also being supported by real concern about the outcome of Greece’s elections on Sunday. This has led to one major foreign exchange provider suspending all trading in the hours around the announcement of the results of the Greek election. 

Cash gold has gained 1% this week and appears to be reasserting its safe haven status due to the deepening debt crisis and near term risk of contagion.

Spain’s sovereign debt rating was cut 3 notches by Moody’s and market watchers feel they will need a ‘bailout’ soon even though they just received eurozone financing to bail out their troubled banks.

While superficial analysis has recently again questioned whether gold is a safe haven and has suggested it is not due to its recent performance, gold is again acting as a safe haven for those who need a safe haven.

Gold has risen by more than 6.3% in euro terms so far in 2012, while FTSE and CAC are down by 2.4% and 4.9% year to date. While the DAX has risen by 3.3%, most European indices are down sharply.

Therefore, European holders of gold are again being protected from the market and monetary volatility. 

Anthony Robbins Bullish On Gold - Faber and Bass His Financial Gurus

Tony Robbins (Anthony Robbins), one of the world's leading performance coaches and motivational speakers  has recently warned about the risk of dollar devaluation and spoke about the opportunities in gold which is "exploding" and "is in a bull market".

At Robbins, recent event in London (May 18th to 21st), he spoke about the importance of getting good financial advice from the people who predicted this crisis and have made money for their clients in recent years.

He spoke about investment experts who he respects and specifically mentioned Marc Faber and Kyle Bass.

Robbins is one of most positive and optimistic people in the world. Nevertheless, he recently produced a YouTube video warning of an impending economic collapse.

Faber and Bass are extremely bearish on paper currencies and government debt and are very bullish on gold and silver bullion due to the euro zone debt crisis and looming global debt crisis due to the appalling fiscal state of Japan, the UK and the US.

Dr Marc Faber is a Swiss financier who predicted the Wall Street Crash in 1987. He is the editor and publisher of the “Gloom, Boom & Doom Report,” author of many books including the best selling 'Tomorrow's Gold: Asia's Age of Discovery'. 

Faber advised investors to buy gold in 2001 and he is still extremely bullish on gold and silver and believes that gold will rise in all economic circumstances - a global inflationary economic boom, stagflationary environment or even in a global deflationary recession or Depression.

Kyle Bass is the erudite Texan investor who saw the financial crisis coming and made a fortune in the sub-prime collapse  - first from America's sub-prime mortgage crisis and then from betting that Greece would default. Now he’s positioned and ready for the collapse of entire countries, having bought credit default swaps on Greece, Ireland, Italy, Spain, Portugal and, interestingly, Switzerland. 

Robbins shares the concerns of Faber and Bass regarding sovereign defaults and Robbins is very concerned about the risks of a US debt crisis and the risks that it poses to the US dollar.

A recent video 'The National Debt and Federal Budget Deficit Deconstructed' by Robbins is well worth a watch: www.youtube.com/GoldCoreLimited

Gold and indeed those who own it are often accused of being 'barbaric', 'uncivilised' and 'bugs.' 

Indeed, there is often a suggestion that those who own gold are negative ‘doom and gloom merchants’ who hope that the world financial and monetary system will collapse so that their gold holdings will surge in value and they will be 'rich as Croesus.'


Cross Currency Table – (Bloomberg)

Anthony Robbins and indeed most who are positive about and advise owning gold very much contradict this silly view. Indeed, many of them have been warning about these fiscal challenges for years in an effort to protect family, friends, clients and the public.

The majority of people who buy gold are rational economic people who realise that there is macroeconomic, geopolitical, monetary and systemic risk in the world and they buy gold as a store of value.

They buy gold as they simply wish to protect themselves and their families from these risks by owning the financial insurance that is gold.

Robbins has a massive following internationally – especially amongst business owners but also in the sporting, media, music and entertainment industries and his endorsement of the importance of owning gold is significant.

OTHER NEWS
(Bloomberg) -- Barclays Expects Gold, Platinum-Price Recovery by Fourth Quarter 
Barclays Plc expects the average prices of gold and platinum to increase by the end of the year.

Gold, which traded at $1,611.75 an ounce by 1:02 p.m. in London, is expected to increase to an average of $1,720 in the third quarter and $1,790 in the final three months of this year, the bank said in a statement handed to reporters in Johannesburg today.

Platinum, currently at $1,453.96 an ounce, is set to advance to $1,615 in the three months through September and $1,690 in the final quarter, it said. 

(Bloomberg) -- Commerzbank Says Platinum May Be at $1,750 By End of This Year
Commerzbank AG said platinum may be trading at $1,750 an ounce by the end of the year.

Silver will be $35 an ounce and gold at more than $1,900 an ounce by then, Commerzbank said in a report e-mailed today. The yearend forecast for gold is $1,900 an ounce, it said.

(Bloomberg) -- Gold May Advance 5% by July on Double Bottom: Technical Analysis
Gold prices, down 3.1 percent this quarter, may rebound 5 percent by July after hitting a “double bottom,” according to technical analysis by Infinity Trading Corp.

Gold may climb to $1,700 an ounce after falling to $1,529.30 on May 16 and $1,532.10 on May 30, said Fain Shaffer, Infinity’s president. A double bottom is a chart pattern showing a drop in price, followed by a rebound and then another decline to near the same level, usually indicating support. Bullion has closed above its 20-day moving average since May 31, another “bullish signal,” he said.

“Gold seems to be in an uptrend now,” Shaffer said in a telephone interview from Medford, Oregon. “The market is showing some strength.”

Yesterday, gold futures for August delivery rose 0.3 percent to settle at $1,619.40 on the Comex in New York, rising for the fourth straight session, the longest rally since Jan. 5.

Prices are up 3.5 percent in June after tumbling 10 percent in the prior four months. The 20-day moving average is near $1,586.

In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes in a security, commodity, currency or index.

 

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Thu, 06/14/2012 - 22:03 | 2528005 razorthin
razorthin's picture

Captain obvious must be connected to a bullion dealer.  I smell Maloney.  Or maybe that's just Schiff I smell.

Thu, 06/14/2012 - 19:31 | 2527567 At120
At120's picture

Uh, oh.

What happened to Paul Tudor Jones, Tony?

 

 

Thu, 06/14/2012 - 18:46 | 2527448 shovelhead
shovelhead's picture

"The majority of people who buy gold are rational economic people who realise that there is macroeconomic, geopolitical, monetary and systemic risk in the world and they buy gold as a store of value."

I consider this to be a masterful use of understatement.

 The cosmically overleveraged bank situation is half a financial fart away from complete and total destruction from Ebola CDS contagion and a counterparty clusterfuck that is going to make a bunga-bunga party look like Sunday school.

And you just know when TSHTF that the guns will come out to 'fix' what printing can't. That's the way it is.

I don't know if Tony is a douchebag or not, but a hell of a lot of people pay to hear what he has to say and if he makes my stack go up by convincing folks to cover up with metal and protect themselves from the wolves, then he's ok by me even if he does look a bit like Lurch.

Wising people up..."It's a good thing."

Thu, 06/14/2012 - 18:18 | 2527398 heaven
Thu, 06/14/2012 - 18:00 | 2527380 WhiteNight123129
WhiteNight123129's picture

Ok, the Gold craze phase III bull market officially kick started, time to watch for exit.

Thu, 06/14/2012 - 16:14 | 2527081 Lore
Lore's picture

When a creepy late night infomercial douche starts extolling gold's virtues, you know it's a top.

Any appearance of Oprah signals a top.

Thu, 06/14/2012 - 18:47 | 2527474 Turin Turambar
Turin Turambar's picture

At least Lurch is on sound monetary ground, unlike Douchernanke

Score:  Lurch:  1            Douchernanke:  -300

Under normal circumstances, the score would be 1-0, but the douche, as usual, was way overleveraged. :-O

Thu, 06/14/2012 - 16:40 | 2527166 Born-Again Bankster
Born-Again Bankster's picture

He may be a douche bag, but he has a following.  And if supply/demand vs. paper manipulation starts actually dictating the price of PM, those who have been stacking will be very happy.

Thu, 06/14/2012 - 15:23 | 2526844 Chippewa Partners
Chippewa Partners's picture

Last time I saw TR was in the early 80's when he trying to pick up chicks in San Diego.

Guess he has moved on to shinier things to play with.

 

Thu, 06/14/2012 - 19:47 | 2527614 dirtbagger
dirtbagger's picture

Tony Robbins ??? WTF -  A new low for zero hedge

Thu, 06/14/2012 - 15:10 | 2526735 RacerX
RacerX's picture

I only listen when Mr. T talks about gold. If anyone knows.. really KNOWS about gold, it is he.

Thu, 06/14/2012 - 15:07 | 2526721 SILVERGEDDON
SILVERGEDDON's picture

I'm waiting for Carrot Top to spew the PM wisdom. Gingers - so close to God, you gotta kick them right in the nuts. Still stacking. Fuck all the paper suits right into a bonfire of fiat and stock certificates. Sorry, my can of dog food is for sale for metals only, Ponzi pricks.

Thu, 06/14/2012 - 20:38 | 2527751 Alpo for Granny
Alpo for Granny's picture

Did someone say dog food?

Thu, 06/14/2012 - 14:53 | 2526656 reader2010
reader2010's picture

Shit. This is extremely bearish for gold in the short term. When I started to accumulate back in 1999, nobody and his brother were talking about gold and silver. Now, everyone and his brother are so sure gold is the way to long just like back in 1999 they were positive .com was a sure thing. It ain't do gold any good. 

Thu, 06/14/2012 - 17:27 | 2527294 akak
akak's picture

But for every one of you or Tony Robbins, there are still multiple Jon Nadlers and 50 or 100 clueless sheep without a trace of historical knowledge about or perspective on financial and monetary matters.  Despite our, and his, best efforts, the secret of gold is still largely safe, regrettably.

Thu, 06/14/2012 - 14:43 | 2526628 oldgasII
oldgasII's picture

The thing to remember about douche bags that bull shit for money, is that they want to hold on to their money. 

Look at the number of people who bad mouth gold that  turn up owing gold.  Tne NotMyGoldholding,Inc. owned by Obamabuddy, Inc. kind of thing.   Old Tony may get no commision benefit from touting certain Gold bug agencies but he his still putting his money their.  

Thu, 06/14/2012 - 14:18 | 2526490 BeetleBailey
BeetleBailey's picture

Best line from "Shallow Hal" as to Robbins;

Jason Alexander - "Man! His fingers are as big as bananas!"

Banana fingered Robbins.

He ought to get on the talk-show circuit and open that big maw of his and say this.

The sheeple may just listen.

Wait..........no.....right now Oblammer is "defending" his economic policies.

Jesus H. Christ! How the FUCK can anyone listen to this shit without barfing/laughing/crying/lock and loading?

I just wish ONE reporter with balls would step the FUCK up and ask this cunt a serious, non-softball question.

Obmany has mucho sins to answer for.

Thu, 06/14/2012 - 14:17 | 2526483 bankruptcylawyer
bankruptcylawyer's picture

tony robbins is like goliath. he needs his head separated from his body. he would be recoomending any momo-stock of the week if he were paid to do so. one can only surmise he either owns a lot of gold or is getting paid to spread the word. the word needn't be spread. 

 

Thu, 06/14/2012 - 14:27 | 2526541 HoofHearted
HoofHearted's picture

I'm worried when gold positive pieces have a picture of Oprah in them. That cannot be good for gold's credibility. Now, if it was a brownie and chocolate chip cookie positive story, well....

Thu, 06/14/2012 - 15:51 | 2526980 prole
prole's picture

You are both wrong. That is exactly what gold needs is for some mainstream persona like Robbins to get the good news of gold into the ears of the sheople. Once a sizeable amount of sheople start buying gold and exiting their conventional dollar account investments, then we get our reward. And those left holding the paper bag get laughted at.

 

Thu, 06/14/2012 - 13:36 | 2526326 lasvegaspersona
lasvegaspersona's picture

Those who believe the value of gold is reflected in the price of gold as transmitted by the casino/hedge mechanism that is the Comex will often find themselves confused. Those who use futures/ swaps/ options/ forwards or ETFs  and think that they will be able to get the real deal at crunch time will find themselves surprised...unpleasantly. Buy physical keep it safe and stop watching what the gamblers at the next table are doing, it does not concern you.

Thu, 06/14/2012 - 18:07 | 2527403 ljag
ljag's picture

10 yrs ago when I first started reading the "Daily Reckoning" w/ the Mogambo Guru, I emailed him and suggested that someone like Mick Jagger could wipe out the silver short position if he were to 'suggest' to his audience that everyone buy a one ounce silver coin. Alas, Mick was knighted shortly afterwords and I quit reading 'the Guru's' antics in the bombshelter.

Thu, 06/14/2012 - 13:33 | 2526297 Arnold Ziffel
Arnold Ziffel's picture

"Gold never goes to zero," my financial advisor told me.

Thu, 06/14/2012 - 15:20 | 2526812 Zero Govt
Zero Govt's picture

financial advise of the century

..are you dropping him quite soon?

Thu, 06/14/2012 - 13:26 | 2526290 JohnFrodo
JohnFrodo's picture

Its all imaginary, so if Japan can go 200% debt to GDP, why cant everyone. This means the goldbugs will not see anything for at least 15 years.

Thu, 06/14/2012 - 20:22 | 2527699 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

The Japanese went to 200% during a time when the rest of the world economy was marginally functioning, with huge surpluses in their bank accounts, and with 95% of their paper bought by Japanese mamasans and salarymen. US/EUR don't have those luxuries>>>

Thu, 06/14/2012 - 13:20 | 2526273 Obnoxio
Obnoxio's picture

The global currency war is raging. I know Tim Geithner said the US has a strong Dollar policy but I'm siding with Tony Robbins on this one. Gold is not in a bubble and will hold its value for the long run.

Thu, 06/14/2012 - 13:14 | 2526252 Ned Zeppelin
Ned Zeppelin's picture

I wouldn't buy a brand of shoe polish if Tony Robbins recommended it, but that won't keep me from understanding the logic behind accumulating physical gold.

Thu, 06/14/2012 - 12:26 | 2526056 williambanzai7
williambanzai7's picture

He's a douche bag, but a smart douche bag.

Thu, 06/14/2012 - 15:17 | 2526795 Zero Govt
Zero Govt's picture

he scares me

 

Thu, 06/14/2012 - 17:22 | 2527275 akak
akak's picture

His teeth scare me.

You'd think that somebody would have noticed them missing from one of the presidents on Mount Rushmore by now.

Thu, 06/14/2012 - 11:46 | 2525888 zerotohero
zerotohero's picture

Time to get out before gold hits $1000 and silver $20.

Thu, 06/14/2012 - 12:19 | 2526013 EL INDIO
EL INDIO's picture

If gold went down to $1000 silver would be at $10-$15.

With silver at $20 gold would be at $1350-$1450

Thu, 06/14/2012 - 12:35 | 2526086 zerotohero
zerotohero's picture

ok silver for $10 alex

Thu, 06/14/2012 - 15:46 | 2526955 prole
prole's picture

OK no problem amigo, we'll buy more at 10, back to you.....

Thu, 06/14/2012 - 18:42 | 2527462 EL INDIO
EL INDIO's picture

I don't think we'll see $10 silver again.

Thu, 06/14/2012 - 18:35 | 2527447 zerotohero
zerotohero's picture

Now you get it - sell high buy low - good for you.

Thu, 06/14/2012 - 21:59 | 2527984 prole
prole's picture

Who said anything about selling?  I'm not selling any silver friend.

And let me add to answer Indio below- Silver is "volatile" so nothing, including 10$ silver, would surprise me. It would hurt my feelings and my net worth, but it would not surprise me.

Thu, 06/14/2012 - 11:39 | 2525862 urbanelf
urbanelf's picture

This guy authored The Secret.

 

 

Ok, I know that's not true, but I want badly to believe it.

Thu, 06/14/2012 - 11:33 | 2525842 EmileLargo
EmileLargo's picture

At what point does this turn into a bubble? Eventually it will when the schmucks realise they have been had. Precious few do at present (no pun intended), although the numbers are growing.

Thu, 06/14/2012 - 11:18 | 2525763 Grand Supercycle
Grand Supercycle's picture

Rally warning continues...

Despite the stockbears with their pre-election jitters, SPX choppy bullish daily & USDX bearish daily charts strengthen.

Significant equity / EURUSD upside & USDX retracement ahead.

http://www.zerohedge.com/news/2012-12-24/market-analysis

Thu, 06/14/2012 - 17:19 | 2527272 akak
akak's picture

I do not like green eggs and ham

I do not like them, Spam I Am.

Thu, 06/14/2012 - 11:11 | 2525708 GrinandBearit
GrinandBearit's picture

FYI... Tony also predicted a major stock market crash in 2009.  To his credit, it would've crashed if banksters did not intervene with schemes undreamed of.  I have a feeling he's correct about gold though. 

IMO, these European bank runs have lit a fuse to a very large bomb.

Thu, 06/14/2012 - 11:09 | 2525701 Alpo for Granny
Alpo for Granny's picture

He needs to go on The View and tell all the sheeple American housewives to stop buying 50 Shades of Gray and start buying 50 oz of silver...thereby placing the ball gag firmly into the banksters mouth.

Thu, 06/14/2012 - 11:08 | 2525689 TrainWreck1
TrainWreck1's picture

Tony Robbins is a douchebag.

Thu, 06/14/2012 - 15:13 | 2526770 Zero Govt
Zero Govt's picture

GoldCore is scraping the bottom of the barrel today for a ramping story

...fingers crossed he can do better next week

Thu, 06/14/2012 - 11:07 | 2525679 battle axe
battle axe's picture

Are you kidding me with this story? Financial advice from Tony Robbins? That snake oil salesmen...WTF!

Thu, 06/14/2012 - 12:07 | 2525973 Brindle702
Brindle702's picture

If this guy is hyping it then is it time to sell?  I hate when the bad guys take up my position.  It makes my position hard to hold.

Thu, 06/14/2012 - 11:51 | 2525914 smlbizman
smlbizman's picture

lets play...how many ounces of gold would fit in his hallowed out head....

ill go first.....1,500

Thu, 06/14/2012 - 13:48 | 2526359 illyia
illyia's picture

Is that in the dollar amount?

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