Monday, February 22, 2010
Sunday, February 21, 2010
Friday, February 12, 2010
Money manager predicts the price of silver to skyrocket on industrial growth.
Thursday, February 11, 2010
Wednesday, February 10, 2010
Tuesday, February 9, 2010
Monday, February 8, 2010
Mark Bristow, chief executive officer of Randgold Resources Ltd, talks about fourth-quarter profit and the outlook for gold prices. Bristow speaks with Bloomberg's Maryam Nemazee and Rishaad Salamat in London
Sunday, February 7, 2010
Friday, February 5, 2010
Thursday, February 4, 2010
Feb. 4 (Bloomberg) -- Keith McCullough chief executive officer of Hedgeye Risk Management and a Bloomberg Television contributing editor, talks with Erik Schatzker about his investment strategy for gold and the dollar. McCullough also discusses the Obama administration's proposal to prohibit commercial banks from owning hedge funds and limit how much they could trade for their own accounts. (Source: Bloomberg)
Tuesday, February 2, 2010
By: Przemyslaw Radomski
Perhaps you may have heard mentions recently of the Austrian School of Economics versus the Keynesian branch. Maybe you saw televised interviews with Congressman Ron Paul (R-Texas.) He is the Congressman who has been trying for decades to pass a bill that would give Congress the power to audit the Federal Reserve Bank. What was once a ridiculed, marginal proposal recently passed the House and will soon be considered by the Senate.
Congressman Paul blames the country's economic woes on a long-dead economist by the name of John Maynard Keynes, whose present-day adherents, he says, are the ones bringing the country's economy to the cliff's edge.
Keynesian economics gained dominance after World War II and it was President Richard Nixon who proclaimed in 1971: "We are all Keynesians now." It was about the same time that Nixon "temporarily" severed the link between the dollar and gold, thus laying the framework for the currency's debasement. Congressman Paul is an adherent of the Austrian school of Economics.
Monday, February 1, 2010
Friday, January 29, 2010
January 29, 2010
Brace yourself for the impending gold shortage. Gold shortage? Yup. With the launch of a flurry of ETF’s devoted to the barbaric relic recently, total ETF holdings have soared well past 60 million ounces worth $65 billion, more than total world production in 2009. The grand Daddy of them all, the SPDR Gold Shares (GLD), now has a staggering $42.7 billion of the yellow metal, making it the second largest ETF by market capitalization, and the fifth largest gold owner in the world.
When gold suffered a hair raising $150, 12% pull back from the all time high in December, I was deluged by traders asking if this was the peak, if it was the final blow off top, and if gold is finished as an asset class. My answers were no, never, and not on your life.
A tidal wave of fiat paper currencies is now flooding the world financial system at an increasingly alarming rate. Obama has not suddenly become a paragon of fiscal restraint. Bernanke has not morphed into a tightwad. When I pull a dollar bill out of my wallet, it’s as limp as ever.
In 2008, South Africa suffered its steepest decline in gold production since 1901, falling 14%, to a mere 232 tons. It now ranks only third in global production of the yellow metal, after China and the US. Severe electricity rationing, a shortage of skilled workers, and more stringent mine safety regulations have been blamed. Choked off credit has frozen the development of new capital intensive deep mines, as it has for everybody else. Rising production costs have driven the global breakeven cost of new gold production up to $500 an ounce.
Thursday, January 28, 2010
Wednesday, January 27, 2010
Monday, January 25, 2010
An ounce of platinum buys 1.41 ounces of gold, down 42 percent from the record 2.43 ounces in 2001 and 23 percent less than the 10-year average, data compiled by Bloomberg show. Automakers, the biggest buyers, will expand output 20 percent this year, said Evan Smith, who helps manage $2 billion at U.S. Global Investors. Hedge funds raised their bets 163 percent in 2009, about twice gold’s increase. ETF Securities Ltd. funds lifted holdings to a record 598,104 ounces.
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