The Financial Times: Learn From German Central Bank and "Demand Physical Gold"

GoldCore's picture

Today’s AM fix was USD 1,270.00, EUR 927.82 and GBP 767.14 per ounce.
Friday’s AM fix was USD 1,259.25, EUR 920.44 and GBP 757.40 per ounce.

Gold rose $0.56 or 0% on Friday to $1,264.51/oz. Silver slipped 0.20 or 1% to $19.74/oz.

Gold surged to its highest level in two months on the open in Asia overnight. Gold was steady at $1,268.60 late morning, after earlier hitting a two-month high of $1,278.01. Other precious metals also edged higher.

Safe haven buying was evident as equities fell on worries about capital outflows from emerging economies, currency crises and macroeconomic and geopolitical risk.

Asian and European shares dived as emerging markets remained under pressure due to concerns that the U.S. Federal Reserve may discontinue its ultra loose monetary policies and unease about the shadow banking system and credit conditions in China. This is raising the possibility of a sharper economic slowdown.

Risks posed to depositor's cash were seen in the UK after HSBC imposed cash withdrawal limits on clients and Lloyds ATM machines and debit cards experienced difficulties.

The Financial Times has told investors that they should act like the German Bundesbank and "demand physical gold" and warned that gold price "manipulation" could end "catastrophically".

“There’s surely no chance that the Fed’s little delivery difficulty has anything to do with the cat’s-cradle of pledges based on the gold in its vaults?  As has been remarked here before, forecasting the price is for mugs and bugs.

But one day the ties that bind this pixelated gold may break, with potentially catastrophic results. So if you fancy gold at today’s depressed price, learn from Buba and demand delivery.”

Find out why Singapore is now one of the safest places in the world to store gold in our latest gold guide - The Essential Guide To Storing Gold In Singapore

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
aussiegirl's picture

I'm not smiling....who would be?

ebworthen's picture


(Yes, I'm shouting).

sandblaster's picture

Yellow is so pretty.

are we there yet's picture

China is buying gold in mass, and when US fiat eventually crashes the money they lost on treasuries and fiat reserves can be regained by selling hyper priced gold back to the US.  By the time this would hapen though their own export economy will be gutted.

esum's picture

might as well ask for a blow job cause you aint getting either that or gold.... the dolla is a fed reserve note unless you have a real dollar (silver / gold cert.) 

Peter Pan's picture

The motivations behind the publication are irrelevant. What we need to know is that the world is a very sick place, infested with war, a nuclear power disaster that cannot be corked, unemployed youth who cannot begin their future, debt saddled graduates who can only hope for a low level job, retirees who cannot retire, savers who earn nothing, natins that have promised the undeliverable, banks that are insolvent, shopping malls and retailers that are going the way of the dodo, spy agencies that have invaded the sanctity of ones privacy, people who have gone from being independent voters to being clients of political parties who demand more and more for their vote, corporations that relocated their production but wanted to keep the customers despite putting them on the unemployment heap, .......

In the process meritocracy (think Ron Paul) is dead.
In the process lies go unpunished. (remember the head of the NSA lied to congress).
In the process your kids are dying in foreign places ( but not those of politicians).
In the process the whole middle class is disappearing while the sickly corporations vacuum up the market share once held by the middle class.

It's sad that we must seek refuge in gold rather than real free enterprise but that's the only generational protection in a sick sick world.

ebworthen's picture

Here, here!

Ride on:

(In a good way, +100, link opens in new window/tab).

Tall Tom's picture

Oh no...Say it ain't so. You Shit has already hit the fan?


There were no Headlines that announced this.

Everybody told me to prepare for the eventuality. but...but...but..It was supposed to be tommorrow...or some time in the future. There was always supposed to be a delay...a reprieve.


But now you tell me that it has already happened and I did not get the memo?




It is not about "When the Shit hits the fan". It already has as this fine post by Peter Pan illustrates with clarity. You would have to be blind not to see that it has and very comfortable wallowing in an ocean full of shit.


And the Shit Storm will continue unabated. You will be buried even deeper until you get sick and tired about it. Then you will act and do something about it....when you get tired of it.


It is just amazing the shit that people will tolerate when they are slowly acclimated to the pile of shit.


The Collapse will not be announced as Front Page Headlines. This is a Slow Motion Trainwreck happening before your very eyes. It is sad that most (EXCLUDING MANY ON ZH) are too blind to see it. I am just wondering how they deal with that smell.

CH1's picture

Well said, PP.

I will add one thing: There is an answer, and that is to drop out of the slave system and start building better ways to live. (And yes, that includes gold.)

WTFUD's picture

The bad news is fort knox is empty; the good news lord lucan is storing it for them;
now if we can just find him and solve both mysteries!

disabledvet's picture

Germany doesn't have all that great a history via a vis money either.

They were the ones that said "Greece will 5 billion."

We're now at 500 billion "and I'm ready to learn Plato" cuz clearly that guy has no trouble paying his heating bill.

If Sweden sets up some type of "customs Union" in the Norde Lands that'll give new meaning to the term "gold digger."

Son of Loki's picture

I'm worried when it takes off it may soar to $5,000 ... or more ... too quickly.

SmittyinLA's picture

that would be bullish for CAT 

eurogold's picture

Amazing how fast FT can change it's tune on Gold !

buttmint's picture

...the rise and fall of nations. Seems as though before a country "comes of age," it must first clean it own house and get things in order. Britain and South Sea Bubble, Dutch and Tulipomania. USA in the 1930s. Once house is cleaned, then the mantle is assumed.

All the black swans gathering might land or not? But wise to save for that inevitable rainy day.

The Global Depression will hit China and other Emerging Countries the hardest. The ride will be boring, yet relatively livable in USA. The biggest plus is that the USA is mostly EMPTY. Folks will be carving out niches. They are already.

Winston Churchill's picture

I will take a dozen of whatever you're smoking.

All those dollars rushing back to the US will be boring ?

Azannoth's picture

Physical Gold must be levered 100 to 1(+) by now, so lets see what happens when 1.1% of depositors ask "Show me the Gold! Biatch!"

Bindar Dundat's picture

The Fed must be running out of ammo to monkey hammer the gold..

Tao 4 the Show's picture

Unraveling the reasoning behind this news story is key. News is what someone wants you to hear.

The questions are Who? and Why?

FFox's picture

The fox agrees with you Tao.  The fox senses a bit too much pump for the junior gold miners (including the PM sector in general).

The fox is not about to chase the recent gold rallly... but will keep funds in his monetary den for now. 

Fox is awaiting the downthrust in preferred miners.

So sayeth the fox (always seeking to avoid traps).