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Gold Bullion Holds Its Own As Media Stocks Collapse
Gold Holds Its Own As Media Stocks Collapse
- Gold is holding its own but that hasn’t stopped many gold bears from using this as an opportunity to disparage the yellow metal
- A recent Bloomberg article points out that the gold rout has cost China and Russia $5.4 billion
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An amount that would sound colossal were it not for the fact that U.S. media companies such as Disney and Viacom collectively lost over $60 billion for shareholders in as little as two days last week
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Above are the weekly losses for just a handful of those companies. Compared to many other asset classes, gold has held up well, even after factoring in its price decline
Daily Prices
Today’s AM LBMA Gold prices were USD 1,113.25, EUR 1008.97 and GBP 713.74 per ounce.
Yesterday’s AM LBMA Gold prices were USD 1,094.80, EUR 998.50 and GBP 707.74 per ounceGold and silver rose on the COMEX yesterday - up 1% to $1,103.30 and silver surged 3% to $15.24 per ounce. Both metals saw similar gains in euro, sterling and other currencies.
This morning, gold is 0.8% higher to $1,114 per ounce. Silver is up 0.82% to $15.46 per ounce.
Platinum and palladium are 1.1% and 1.8% higher to $999 and $624 per ounce respectively.
Important News
“Dollar weakness due to Fed comments contributed to the gains” said GoldCore – Market Watch
Gold falls from 3-week high as China move lifts dollar – Reuters
China Slashes Yuan Reference Rate by Record 1.9% – Bloomberg
Refiner Say Modi Plan to Tap India’s Gold Hoard Falls Short – Bloomberg
Ravaged by Oil’s Collapse, Venezuela Now Has a Big Gold Problem? – Bloomberg
Important Analysis
Stocks are a ‘disaster waiting to happen': Stockman – CNBC
China Enters Currency War – Devalues Yuan By Most On Record – Zero Hedge
The Dow Has Already Fallen Nearly 900 Points From The Peak Of The Market – The Economic Collapse
The ‘Big Long’ – Goldman Sachs And HSBC Buy 7.1 Tons Of Physical Gold – Seeking Alpha
Germans and Slovaks stand ready to scupper Greek deal as Athens insists agreement is near – The Telegraph
See Knowledge & Breaking News on www.GoldCore.com
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Gotta admire this guy's determination.
I wonder what premium he's charging?
I have some questions:
http://www.zerohedge.com/news/2015-08-06/gold-bullion-demand-chindia-hea...
Real gold versus money changer media stocks spewing full on porpaganda.
Seriously - F TV and F Hollywood plus there shitty theme parks and hotels. Disney pays there employees at their hotels like $9 a hour. Some of the biggest scum in the world at Disney. They rape families to visit their theme parks. F them.
Disney was okay before it was taken over by the Jews and destroyed just like they destroy any other aspect of western culture with their vile obsession with money, depravity and violence.
Wrong Freddie.
The fathers get raped at Disneyland. If you want the family to get raped you take them to England. The muzzies will grab your wife and the politicians will grab your kids.
The bright side is that you can find a half decent beer.
The people who are trying to TALK DOWN gold - are the ones who are holding massive SHORT positions in gold futures.
SORRY BOYS ... in the Hedge Funds. But the positions of the gold miners are aligned completely opposite to you ... miners are now the LEAST hedged in their positions (for a long time). Think that they might know something - that you don't?
THIS CRISIS - which is driven by the collapse of Chinese growth - is NOT the same as the 2008 crisis. Bad luck for all the people who think that history will repeat exactly. It never does.
HERE is one good reason why. Right now the people who are loudly proclaiming "Greece is SAVED, the Eurozone is INTACT" - these are the same people who are going out and buying large amounts of gold. Yes that's right - the good old-fashioned Quadriga (formerly called the Troika). Publicly proclaiming salvation. Secretly buying bullion!!!
Care to guess why??????
quite right, nothing in greece has been resolved & it wont be either,
this is just another case of the same tired old can being kicked down the road again
until THEY are ready to say the deal is off for whatever reason, truth is there never was a deal
The only deal is to asset strip every country in the EU & enslave everyone with unpayable debts
THAT'S THE ONLY DEAL on offer Globally. No plan B
Keep stacking folks, you may not get rich, but you'll leave the table with something when the last hand is dealt
In the long run....we are all dead...but the value of gold is simply NOT reflected in it's dollar price.
The long run may not be that long either.
....but I have been wrong for 4.5 years now so I'll just sit quietly and watch.
Once the main beams of the edifice have been weakened, and they have, the collapse is inevtiable and will move a lot mroe quickly with each passing day.
Depending on the reason your buying gold determines whether it's worthwhile. Paper gold, when your trying to make money in the market is a crapshoot at best. Physical as a buy and hold for the long term is a different story. I'm buying PM's because I'm paranoid and I've read way too much history to believe in fairy tales.....
Excatly. Does anyone buy paper bullets? Paper beef? Paper pussy?
How about "paper crack" pun intended