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Daily Gold Market Report
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Live London Gold News Wire
5 to 10 minutes old --LIVE NEWS--
Caledonia Mining Crp : Caledonia enters into 6-month gold price hedge07:57
InvestEgate (Company Announcements) - Trade
Will Gold Give Cycle Top?07:55 - Commodities
15 to 30 minutes old --LIVE NEWS--
Gold lower on the heels of Yellen’s prepared remarks to Congress07:47
MarketWatch - Currencies
Trend Changes And Gold Price07:38
30 minutes to 1 hour old --LIVE NEWS--
ETF Securities has record gold day amid investor panic07:29
Wealth Manager - News
#Goldsource Mines (TSXV: $GSX.V) Talks about its #Guyana #Gold Project at #VRIC1607:28
If You Miss Buying Gold – You Will Regret, it Later07:28
The Market Oracle - Investor Education
Brokers - Endeavour Silver rated 'hold' in Gold Newsletter07:27
Proactive Investors (USA & Canada)
Gold trims losses after Yellen remarks07:26 - Commodities
Will Deutsche Bank Boost Gold?07:18
Ghana: Ghana's Gold Diggers - Land and Rivers Laid to Waste07:07
I Would Keep A Hold On Eldorado Gold07:06
Seeking Alpha - Macro View
1 to 2 hours old --LIVE NEWS--
Today's Chart of the Day is $GOLD (Gold - Spot Price)07:03
Live Charting: Indices, GBP/USD and EUR/USD, and Gold07:00
FXstreet - Latest Analysis
How Far Can Gold Price Go?06:58
The Market Oracle - The Market Oracle
Gold Obvious $1200 Cycle Top06:58
The Market Oracle - The Market Oracle
Gold and Silver Market Morning - Real and Present Dangers: Feb-10-201606:53
Breakout on Silver; An early signal for Gold?06:50
FXstreet - Latest Analysis
Gold Sees Normal Corrective Pullback Following Recent Strong Gains06:41
Too far too fast on Gold? Lots of work for FTSE and Crude Oil to recover06:40
FXstreet - Latest Analysis
Gold off lows, tests hourly 50-MA06:38
Caledonia Mining hedges 15,000oz of gold production06:38
Proactive Investors (UK)
Caledonia Mining hedges 15,000oz of gold production06:37
Proactive Investors (USA & Canada)
Gold rises to near 7-1/2-month high on safe-haven demand06:17
The Asian Age - Business
Government hikes import tariff value on gold, silver06:16
DNA India - Money
Gold is regaining its luster, even for skeptics. Here's why06:14 - US
2 to 4 hours old --LIVE NEWS--
South Asian Games: India sweeps table tennis event with seven gold medals05:45
The Economic Times
Mitch Tuchman: The Gold and Oil Crash Doesn't Matter05:38
NewsMax - Street Talk
Gold ETFs record Rs 656 cr outflow in FY16; AUM down 8.5%05:37
The Hindu Business Line - News
Gold, Silver and Other Important Questions You Have!05:36
Money and Markets
Gold prices reverse on profit-taking05:26
Business Spectator - Markets
Randgold Is Bucking The Falling Dividend Trend, Positive Results Despite Falling Gold Price05:25
Seeking Alpha - Investing for Income
Offsetting effect on gold demand seen from low crude oil: BofA Merrill Lynch05:17
Gold price rally could have detrimental effect on producers: executives05:17
Gold hits a wall with first slide in a month05:06
Fin24 - Markets
Even With Rally, Gold ETFs are Still in Bear Markets05:05
ETF Trends
Gold Analysis: Support at 1174.50/1163.70, resistance at 1194/1200.6004:49
FXstreet - Latest Analysis
Govt hikes import tariff value on gold & silver04:47 - Business
Gold Declines After Touching Resistance04:44 - Commodities
Gold Hits a Wall at $1,200 With First Two-Day Slide in a Month04:37
Bloomberg - Germany
Mathew Abeysinghe breaks Julian Boling’s record for most Gold medals04:27
Lakehouse Daily News - Business
Nord Gold N.V : Notice of Q4 and FY 2015 Financial Results04:15
InvestEgate (Company Announcements) - Trade
Govt hikes import tariff value on gold and silver04:06
Business Today - Economy and Politics
4 to 6 hours old --LIVE NEWS--
Government hikes import tariff value on gold and silver04:00
The Times of India - Foreign Trade
Young Kyrgyzstanis win 2 gold medals at hand-to-hand combat tournament in Kazakhstan03:57
Govt hikes import tariff value on gold, silver03:56
The Hindu Business Line - Industry & Economy
How Far Can Gold Rally?03:44 - Commodities
Credit Suisse upgrades London’s largest gold stock03:36
Proactive Investors (UK)
Gold futures decline to Rs 28,291 per 10 gm03:27
The Hindu Business Line - Markets
Import tariff value hiked on gold, silver03:17
IBTimes (India) - Global Markets

Gold Firm as Stocks, Oil, Yields, Dollar Drop

by Peter A. Grant

February 09, AM
(from --

Gold remains generally well bid, just below the $1200 level, underpinned by persistent safe-haven demand. Further weakness in stocks, oil, yields and the dollar are all contributing to the buoyancy of the yellow metal.

The yield on the 10-year Treasury note fell to a new 52-week low of 1.68%. The last time yields were this low was early-February of last year, amid skepticism that the Fed was going to initiate lift-off in March.

The yield on the Japanese 10-year bond traded as low as -0.007%. That's the first time the 10-year JGB has traded negative . . . ever! Imagine that, you buy a government bond with a decade to maturity and you get less than nothing in return.

As we noted last week, NIRP (negative interest rate policy) may be supplanting ZIRP (zero interest rate policy) as the new normal. And what a disturbing state of affairs that would be!

Negative yields are just not normal. They are reflective of a fundamentally unhealthy system that is dis-incentivizing savings; pushing savers into riskier assets in a quest to generate some yield . . . any yield.

The financial services industry has always cited gold's lack of yield as a detriment. But hey, gold now has a higher yield than a 10-year JGB. And which one do you perceive to be the riskier asset?

The JGB is associated with an economy that his been mired in a secular stagnation for decades:

The JGB is associated with a government running a debt to GDP ratio in excess of 230:1:

The JGB is associated with a central bank that is engaged in a level of quantitative easing that has never been tried before:

The JGB is associated with a country facing a demographic crisis:

Does anyone really thing that -0.007% accurately reflects the risks facing the country of Japan?

The U.S. has been following the same path blazed by the BoJ and Japan. I posted an article yesterday from John Maulden entitled America is turning into Japan, in which he quotes former Fed chair Ben Bernanke saying, "I think negative rates are something the Fed will and probably should consider if the situation arises."

We noted last week that the 2016 bank stress tests run by the Fed include a scenario where the 3-month T-bill rate is negative for nearly 3-years!
"The severely adverse scenario is characterized by a severe global recession, accompanied by a period of heightened corporate financial stress and negative yields for short-term U.S. Treasury securities." — Fed Statement on 2016 Stress Tests
If they're testing this scenario, they must view it as plausible. Now is the time to be re-balancing your portfolio in order to weather any impending storm. Do you have enough gold?

Opinions expressed in commentary on the website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.


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'I believe that the gold and silver markets are at a watershed – a time comparable to the early 2000s just before gold launched its secular bull market. I also see the downside for gold as limited and the upside potential considerable. Even more importantly, I believe we have come to an important and dangerous crossroads for financial markets. A good many analysts are predicting a return, or resumption, of the 2007-2008 financial crisis, and within that group, some are predicting this iteration to be even more disastrous than the previous. Investors need to understand what's at stake and the vital role precious metals can play in their investment planning.'

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October, 2015


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