Gold Bullion Up 1% In Week, Heads For 5th Weekly Gain As Bonds Sell Off

Gold Bullion Up 1% In Week, Heads For 5th Weekly Gain As Bonds Sell Off

Gold bullion set for fifth week of gains as dollar slumps  (Reuters.com)

Asia Stocks Are Mixed as Euro Gains, Bonds, Gold Bullion Steady (Bloomberg.com)

U.S. runs December budget deficit of $23 billion – Treasury (MarketWatch.com)

Uproar over crackdown on cryptocurrencies divides South Korea (Reuters.com)

Wal-Mart Raises Hourly Wage to $11 in Wake of Tax Overhaul (Bloomberg.com)

Bill Gross of Janus: ‘Bonds, like men, are in a bear market’ (Reuters.com)

 


Gold prices in USD this week. Source (GoldCore)

 

The $50 Trillion Question for Bonds (Bloomberg.com)

Gross Says Bond Bear Market Has Arrived After a 35-Year Run (Bloomberg.com)

David Stockman – Thundering Collision Coming in Bond Market (Youtube.com)

The Danger of Soaring Global Debt (DailyReckoning.co.uk)

Bondmageddon? … Watch The Bond Market, Not Equities – Tett (FT.com)

 

This Week's Market Updates

– Gold Prices Rise To $1,326/oz as China U.S. Treasury Buying Report Creates Volatility
– Gold Hits All-Time Highs Priced In Emerging Market Currencies
– World is $233 Trillion In Debt: UK Personal Debt At New Record
– 10 Reasons Why You Should Add To Your Gold Holdings

 

Gold Prices (LBMA AM)

12 Jan: USD 1,332.90, GBP 978.75 & EUR 1,099.78 per ounce
11 Jan: USD 1,319.85, GBP 978.14 & EUR 1,104.45 per ounce
10 Jan: USD 1,321.65, GBP 976.96 & EUR 1,103.31 per ounce
08 Jan: USD 1,314.95, GBP 972.01 & EUR 1,102.19 per ounce
08 Jan: USD 1,318.80, GBP 974.33 & EUR 1,099.09 per ounce
05 Jan: USD 1,317.90, GBP 973.40 & EUR 1,094.25 per ounce

Silver Prices (LBMA)

12 Jan: USD 17.12, GBP 12.56 & EUR 14.12 per ounce
11 Jan: USD 17.01, GBP 12.64 & EUR 14.24 per ounce
10 Jan: USD 17.13, GBP 12.64 & EUR 14.27 per ounce
09 Jan: USD 17.05, GBP 12.60 & EUR 14.30 per ounce
08 Jan: USD 17.17, GBP 12.68 & EUR 14.33 per ounce
05 Jan: USD 17.15, GBP 12.66 & EUR 14.24 per ounce

Comments

MrBoompi Fri, 01/12/2018 - 12:14 Permalink

I clicked on the link of the top 10 reasons why we should buy gold and I was shocked to discover buying physical gold is really great for gold dealers was not on the list.   

Max Hunter Fri, 01/12/2018 - 12:21 Permalink

Nevertheless, the USDX is about to break through support at 91.1  and if it does, technically it should fall at a pretty nice clip given the fundamentals. That should give PM's a boost.

Conax Fri, 01/12/2018 - 12:49 Permalink

Gee, it's up a whole percent.  Even with Jamie and Lloyd and Blythe's fat arses pinning it to the ground.  Not bad.

Stocks are up an average of a hundred points a day.  In 50 days the dow fraud index should be at 30,000.

But gold is up a percent. Huzzah.

Dragon HAwk Fri, 01/12/2018 - 19:25 Permalink

Big precious metals Estate Auction in my town, place was a mad house, no parking, jammed mobs, strange I never knew there were that many rock collectors arround

 

Ban KKiller Fri, 01/12/2018 - 23:27 Permalink

I like income producing property. Gold is a hedge...someone said. Bitcoin is a wonderful new way to speculate. I'm not risk tolerant and into preservation of capital. Dollars are great right up to the moment their not. Travel to Mexico is great...no I don't go to the drug zones. I don't vacation in Chicago or Baltimore.

Fuck it, put it all on red and spin!

Jack4952 Sat, 01/13/2018 - 00:48 Permalink

The "gold market" is RIGGED !!!!   (Same for all precious metals.)

The Fed (and other central banks) buy up gold ETFs ("Paper Gold"), then DUMP them on the market, driving down the price of PHYSICAL GOLD. In short, there is NO true "price discovery", so any quoted price for physical gold is nonsense.

But one day soon someone (e.g., China) will want to purchase several tons of physical gold - but the vendor will be unable to make delivery due to a lack of physical gold on the market. That is when the "gold market" will FORCE true "price discovery": who is willing to sell their physical gold at WHAT PRICE.

HOWEVER, people holding gold ETFs will eventually discover that their "Paper Gold" contracts can NOT be exchanged for physical gold due to the fact that there are about 250 times the amount of  "Paper Gold" than the TOTAL QUANTITY of Physical Gold in existence !!!!

And that physical gold is owned by somebody - and that current holder of the physical gold will NOT be willing to sell it as its price is skyrocketing !!!!  Thus, the holders of "Paper Gold" will be stuck with that useless "Paper Gold".

Note:

Bitcoin was a great idea, but Bitcoin ETFs are now being used to RIG the price of Bitcoin. These dudes on Wall Street may be immoral, sociopathic criminals, but they are NOT stupid.

meterman Jack4952 Sat, 01/13/2018 - 09:37 Permalink

You say:

"current holder of the physical gold will NOT be willing to sell it as its price is skyrocketing !!!!"

O yea? If Gold EVER gets close to the price I paid in 2012 - I will unload this pile of Buffalos like the stinking shit it is and let the next idiot sit on it and wait to sell after the price (again) plummets. 

In reply to by Jack4952