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Daily Gold Market Report
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Live London Gold News Wire
1 to 2 hours old
www.usagold.com --LIVE NEWS--
Gold, silver tumble to four-year low on dollar21:26
The Peninsula - Business
2 to 4 hours old
www.usagold.com --LIVE NEWS--
Gold Futures Likely To Remain Bearish Next Week19:39
Bernama - Malaysian National News Agency - Markets
Gold prices plunge by Rs950 on weak global cues19:37
The News International - Business
Gold, silver tumble to four-year lows on rocketing dollar19:37
The News International - Business
Gold falls to multi-year lows after Japan's surprise easing19:04
China.org.cn - Economy
World gold price tumbles to four-year low18:59
The Nation - Business
4 to 6 hours old
www.usagold.com --LIVE NEWS--
Update: Royal Gold Reports Strong Earnings18:29
Gold, silver tumble to four-year lows18:07
ArabNews - Economy
Gold Plummets to 4-Year Lows as Fed Ends QE- $1206 Resistance17:59
Daily FX
Barrick Gold (ABX) Earnings Report: Q3 2014 Conference Call Transcript17:32
TheStreet.com - Markets
Gold Slumps to Multiyear Low17:13
Investors Business Daily - Investing
6 to 8 hours old
www.usagold.com --LIVE NEWS--
Gold And Silver Price Crash Of 2014 Coming?16:40
Gold Silver Worlds
Gold producers pummelled as bullion drops to four-year low16:16
The Globe and Mail
Update: New Gold Earnings16:08
Government digs up gold mining proposal; extraction likely by 2016-end15:41
The Times of India - Industrial Goods/Services
Gold's turning point15:31
NBC News - Business
Royal Gold, Inc USA) Rating Reiterated by Barclays (RGLD)15:21
Ticker Report - Banking
Yamana Gold Given “Overweight” Rating at Barclays (AUY)15:21
Ticker Report - Banking
Earlier Today
www.usagold.com --LIVE NEWS--
Gold, Silver Hit Multiyear Lows; Greenback Rises14:32
Investors Business Daily - Investing
Implications Of Greenspan’s Latest Talk for Gold Investors14:29
Gold Silver Worlds
Why Today's Gold Price Is Going Down14:22
Money Morning
Gold Falls, Stocks Record Highs as Japan Goes ‘Weimar’, “Here Be Dragons”13:59
Zero Hedge
Oil slump takes shine off gold as inflation hedge13:58
South China Morning Post - Commodities
CANADA STOCKS-TSX climbs on BOJ stimulus steps; gold miners drop13:54
Reuters - Company News
CANADA STOCKS-TSX climbs on BOJ stimulus steps; gold miners drop13:54
Reuters.co.uk - Markets - Canada
Gold and Silver - Good Morning Fiat Nam13:45
The Market Oracle - The Market Oracle
Barrick Gold Corp. Stock Rating Upgraded by Mackie (ABX)13:31
Ticker Report - Banking
Scotiabank Reiterates Sector Perform Rating for Barrick Gold Corp. (ABX)13:31
Ticker Report - Banking
Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 4% on the Week13:25
Tse Sui Luen Jewellery profit plunges 45.7pc after fall in gold sales13:24
South China Morning Post - Companies
Gold gives up 2.3% to $1,171 after BOJ move; WTI sheds13:15
Proactive Investors (USA & Canada)
Gold option volatility soars as investors race to protect against rout13:15
Reuters.co.uk - Regulatory News
Gold option volatility soars as investors race to protect against rout13:14
Reuters - Funds
Update: Lake Shore Gold Earnings Show An Important Improvement13:08
Gold and silver tumble to four-year lows13:02
Khaleej Times - Business
Agnico Eagle Mines (AEM) Stock Hits One-Year Low on Weak Earnings, Gold Price Reduction13:01
TheStreet.com - Markets
FOMC Hits Gold And Silver13:01
Gold plunges to four-year low12:54
Business Spectator - Markets
COT Gold, Silver and US Dollar Index Report - October 31, 201412:35
Gold below Rs 26k after 3 years12:33
The Times of India
Gold tanks to multi-month low, silver also sinks11:49
The Hindu - Business
QE Finished, Gold Fans Clearly Crackpots11:37
Bullion Vault
Gold Touches Four-Year Low Friday; US Jobs Data Awaits Next Week11:22
Forbes.com - Business
Gold prices drop to four-year low11:07
FT.com - Markets
Titan to launch revamped gold plan11:04
The Business Standard - Companies
Barrick Debt Insurance Climbs as Gold Price Plunges11:04
Bloomberg - Regions
Don't Get Bullish on Gold Below $135010:57
Bullion Vault
Nikkei Futures Up Limit, Yen Collapses, Dollar Up, Gold Down as BoJ Pledges "Unwavering Determination" to Get 2% Inflation10:51
Mish's Global Economic Trend Analysis (Weblog)
Timmins Gold Corp (TGD) Releases Quarterly Earnings Results, Meets Expectations10:50
Ticker Report - Banking
Halloween horror for gold price10:47
Mining.com - Gold

Gold Falls On Rising Dollar as BoJ Further Debases Yen

by Peter A. Grant

October 31, AM
(from USAGOLD.com) --

Gold tumbled through support at 1182.10/1179.83 to establish new four-year lows as the Bank of Japan (BoJ) announced that it would further expand asset purchases in its seemingly unending fight against deflation. The yen tumbled, providing an additional lift to the dollar; which in turn weighed on gold.

In a surprise move, the BoJ said it was escalating its expansion of the monetary base from ¥60-70 trillion per year to ¥80 trillion per year. The BoJ board gave Governor Kuroda one year to defeat deflation, and he went 'BIG' in his attempt to do just that, unleashing a torrent of liquidity into the market.

However, with just five-months to go before they need to show results, the BoJ's QQE program and Abenomics as a whole appear poised to fail. All they can do at this point is further debase the yen and buy ever-more assets. I shudder to think what they might do if this latest boost proves insufficient as well.

Stocks not surprisingly love the idea of an even bigger influx of liquidity, even as the Fed officially completed the taper this week. An article from The Economist today, suggests the U.S. might be strong enough to withstand further yen debasement (dollar strength), but they wonder about Europe...

The European economy is already on the ropes, facing significant growth risks, high unemployment and deflationary pressures. If the Japanese gain further competitive advantage via the weak yen, it could derail any hope for a European recovery.

The ECB announces policy next week and Mario Draghi is going to have to step-up his game. He wants a weaker euro as well, but the Japanese are just being bolder on that front. Will Draghi finally take the plunge into full-fledged QE on Thursday? Probably not, but I anticipate Draghi will rattle the QE saber even louder. The currency wars have escalated once again.

UPDATE: MNI cited European central bank sources today as saying that the Fed has noticed the euro's slide and the ECB "must not push too far." The ECB sources reportedly also said that a €3 trillion balance sheet is "not in cards". I wonder how low it will take for the Fed to notice that the yen is cratering?

Most of the price pressure in gold is coming courtesy of ETP outflows. Meanwhile, as we've noted in recent weeks, physical demand — particularly in Asia — remains very strong. I suspect the demand for physical gold will be even stronger with the latest price drop.

Opinions expressed in commentary on the USAGOLD.com 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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