Gold

That Dow record is nice, but $3,000 gold is nicer: Rosenberg
March 5, 2013, 6:33 PM
.Forget the Dow. If you really want to make some money, buy gold, says David Rosenberg. Gold is heading to $3,000 an ounce, the chief economist & strategist at investment firm Gluskin Sheff + Associates said Tuesday in a speech at a CFA Institute of Chicago conference.
http://blogs.marketwatch.com/thetel...ord-is-nice-but-3000-gold-is-nicer-rosenberg/

Gold Holding Support Despite Extreme Negative Sentiment


we see confirmation of sentiment at a major extreme. There has been an absolute explosion of negative press towards Gold.
Nomura is cutting its outlook citing a deteriorating investment environment. Analysts from Societe Generale say the market is in bubble territory. Goldman, BNP Paribas, Credit Suisse and Citi have all cut their outlooks in the past two months for Gold.

We have the majority of sentiment indicators showing more pessimism than in 2008, an explosion in negative news coverage and news that major banks have downgraded their outlooks. Without knowing anything else, you’d expect Gold to be down considerably, yet it’s only off about 5% year to date and 10% in the past three and a half months. Most important, Gold hasn’t even broken support! With this sentiment I’d have thought Gold would be trading at $1450 or $1500. Even Silver hasn’t broken its support.

Gold defies price pressures to finish higher

SAN FRANCISCO (MarketWatch) — Gold futures settled higher Friday, defying price pressures from a sharply higher dollar and stronger-than-expected U.S. jobs growth, with some analysts touting the metal’s perseverance as a sign of positive change in sentiment after a lackluster week and monthly declines.

“The small drop and quick recovery we saw in gold was a clear sign that gold has been oversold and has no more time for the bears,” said Jan Skoyles, head of research at The Real Asset Co. “The downturn in gold has no more to give.”

India bans gold jewellery from Thailand


In its ever growing bid to cut down on gold imports, the Indian government's attention has now turned to Thailand from where it has just suspended gold jewellery imports.




In a fresh clampdown, India has officially banned the import of gold jewellery from Thailand. The government has announced that unless it is satisfied that gold jewellery imports from Thailand had received 20% value addition in that country, they would be banned.

The authorities suspect that Indian importers are misusing the duty free pact with Thailand to import bullion from the South East Asian nation.

The commerce ministry has recommended suspension of gold jewellery imports from Thailand in view of the increasing imports from the country. For some time now, the government has been looking to bring down imports of the precious metal into the country and has added several stages of import duties.

Don Coxe: “Central Banks Are Busy At Work Creating The Next Big Bull Market In Gold”


With respect to gold itself and calls for the end of the bull market, Don commented that, “Faith is about values, and gold is the only [thing] that’s got a long-term record as being a store of value under all civilizations that we know of for the last 10,000 years. But the fact that there’s been this disappointment and despair now, does not mean that gold has lost it’s basic value. It’s simply that too many levered players were in it.”

“…The world central banks are going to be creating more demand for gold the next time around than we’ve seen up until now…they are as we speak, busy at work creating the next bull market…I have great faith in their ability to create the right intellectual, emotional, and financial environment for the next gold bull market.”

http://bullmarketthinking.com/don-c...rk-creating-the-next-big-bull-market-in-gold/

Different charts from different blogs

Former US Treasury Official - US Financial System To Collapse
Today a former Assistant Secretary of the US Treasury warned King World News, “This type of situation is extremely dangerous. The world has never seen it before.” Former Assistant of the US Treasury, Dr. Paul Craig Roberts, also told King World News that JP Morgan now threatens the stability of the entire global financial system. And if the Fed loses control and we collapse, “Nothing and no one would be safe anywhere.”





Here is what Dr. Roberts had to say in the second and final part of this extraordinary interview: “I can point out three giant bubbles that threaten the remains of the American economy ... When these bubbles pop, the consequence is obvious: The wipeout of the remaining wealth from bond and stock collapses, and a very strong domestic inflation from the rise in the import prices.”

Dr. Paul Craig Roberts continues...





“The United States is now an import dependent country. It doesn’t produce its own manufactured products, clothes, shoes. These import items dwarf the import of oil or energy. So what is the potential for happening when these bubbles burst is widespread unemployment, and a rapid increase in inflation, before which the economic policy has no known solution.





... It is frightening, and it shows the extent to which the economic policy of the United States is misused in support of four or five big banks that are ‘too big to fail’ ... We now have one bank, JP Morgan, which has derivative exposure equal to the (entire) world’s GDP....
ngworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/16_Former_US_Treasury_Official_-_US_Financial_System_To_Collapse.html

http://kingworldnews.com/kingworldnews/King_World_News.html

WEEK AHEAD

Bullion market participants will be watching the Federal Reserve's policy meeting next week. A hawkish tone would further hurt investors' interest in gold, but Asian buyers would make purchases if prices drop near February's levels.