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Showing posts with label gld. Show all posts
Showing posts with label gld. Show all posts

Wednesday, June 7, 2017

Technical chart for the GLD ETF showing trend towards higher prices as paper gold compliments the physical gold price

With gold's decent 1% move yesterday to nearly $1300, the positive technical indicators that began in late May have now moved into the paper gold markets as well.  And on June 7, the technical chart for the GLD ETF is now in line with the physical gold price charts, which signal a move towards even higher gold prices.

The 2017 high of $1,298.8 was set on Tuesday. Gold has been above a "golden cross" where the 50-day simple moving average moved above its 200-day simple moving average on May 22. A "golden cross" indicates that higher prices lie ahead. My monthly value level of $1,152.6 with a quarterly pivot is $1,233.2 and a weekly pivot of $1,273.7. My annual risky levels have been $1,660.1 and $1,674.1 since the beginning of the year. 
The weekly chart for the Gold Bullion ETF ($123.10 on June 6) is positive, with the ETF above its five-week modified moving average of $120.33 and above its 200-week simple moving average of $118.39, which is the "reversion to the mean" tested several times between the week of Feb. 24 and the week of May 19. Weekly momentum is projected to rise to $69.72 this week, up from $62.38 on June 2. Buy weakness to my weekly value level of $121.14. My quarterly value level is $116.89, with my annual risky level of $160.24. - The Street

Wednesday, January 18, 2017

Demand for gold surging as paper gold in the GLD ETF running at levels not seen since 2011

2011 was the year gold reached its all-time high against the dollar when it climbed from $1325 at the end of January to over $1900 by early September.  And during that year investments in the GLD ETF were also at record highs.

Subsequently traders saw the gold price fall over the course of the next four years, ending its bear market run in January of 2016.  But as we enter into a new Presidency in January of 2017, and conditions looking very similar to what occurred last year in the gold markets following the central bank's first rate hike in over a decade, something else is occurring that is sure to spark a run in the gold price and it is happening once again in the paper gold market.

On January 17, the GLD ETF had risen 13 of the last 15 trading days, creating a scenario for gold not seen since it rose to its all-time high back in 2011.

Gold chart for September 2011 when it reached its all-time high 
The popular gold-tracking GLD ETF has risen in 13 of the past 15 sessions through Tuesday, the first time it has done so since summer of 2011. 
Gold has suffered a precipitous drop since peaking in mid-2016, with Donald Trump's election and the Federal Reserve's rate hike serving as two notable bearish catalysts. 
Each of the events sent the dollar surging and yields rising — both of which are bad news for gold. After peaking at nearly $1,380 per troy ounce in July, gold found itself below $1,130 per troy ounce in the middle of December. 
Since then, gold has staged a subdued but nonetheless persistent rise. In the 15 sessions since Dec. 22, gold has risen more than 7 percent. 
The last time the GLD rose as consistently was in the 15 sessions ended July 26, 2011, which similarly saw the ETF rise a bit less than 7 percent. 
To be sure, 2011 is not a year that gold fans remember fondly. The metal topped out just a few months later, in September, at $1,923.7. A gut-wrenching decline was ahead, and the value of the metal has pretty much been declining ever since. - CNBC
Gold price to date for 2017

Wednesday, June 8, 2016

Bank of Montreal initiates final processes for their gold fund program

Last year, the Bank of Montreal (BMO) announced plans to start a new gold fund which would allow investors to partake in the buying of physical gold, while having greater protections than would normally be seen in a private vaulting company.

But unlike the GLD and SLV ETF metals funds on the American stock exchanges, this fund by BMO would easily allow clients to withdrawal their gold at any time.

And on June 7, BMO filed a prospectus with the SEC to fund the new program with $500 million in physical gold bullion, in preparation for clients and investors to begin changing their currency into precious metals.

A year ago February, Bank of Montreal announced plans to start a physical gold fund -… 
— and today the bank filed a prospectus with the U.S. Securities and Exchange Commission signifying intent to stock the fund with $500 million of gold, to denominate the shares in ounces, to vault the metal at the Royal Canadian Mint, and to give investors the option of withdrawing their investment in real metal:… 
The prospectus provides a few interesting and even amusing details: 
— It cautions that the “official sector” is active in the gold market and can affect prices, an acknowledgment that will never make it into any reports by mainstream financial news organizations. 
— The fund will not insure its assets, trusting the Royal Canadian Mint to protect them. 
— The fund is structured separate from the Bank of Montreal so that its assets will not be vulnerable to claims by creditors against the bank. 
The amusing part — the fund seeks to eliminate “derivatives risk (i.e., the use of unallocated gold, gold certificates, exchange-traded products, derivatives, financial instruments, or any product that represents encumbered gold),” as well as “’empty vault risk’ or gold bullion lending risk (i.e., the practice of the gold custodian lending, pledging, hypothecating, re-hypothecating, or otherwise encumbering any of the investors’ underlying gold bullion).” - Gata via Silver Doctors
Interestingly, the Bank of Montreal is going above and beyond to ensure that investors know of the perils within the banking system that currently allows institutions to confiscate customer accounts in the event of insolvency by the bank itself, and that this new gold fund does not fall under the parameters of those bail-in procedures.  In essence, the fund is not only a signal of the importance and need for gold diversity, but that it will appeal greatly to the growing number of citizens realizing that trusting their wealth inside banks is a losing proposition.

Saturday, September 19, 2015

Got Karatbars? Fed rate announcement is followed by even more shortages in gold supplies

On Sept. 17, the Federal Reserve made the announcement heard 'round the world as the U.S. central bank signaled to the world that the global economy is in such dire straits that they couldn't even raise interest rates by .25 from their current levels of zero percent.  This immediately sent shock waves to other central banks as just a day later, calls for new rounds of money printing took place out of the Bank of England, the ECB, and even banks from Australia, with suggestions of even greater policies such as negative interest rates and ending cash altogether being included in their commentary.

Yet for those who have been reading this blog, or other alternative financial sources, the banks have not been blind to what the media has been telling the general public regarding the economy, the dollar, and the overall global financial system.  And as we have seen over the past few months, accumulation of available gold and silver has led to massive shortages that now even threaten to empty the GLD fund which backstops the paper gold markets.
While the drain of COMEX gold and silver Registered inventories continues as demand for physical precious metals increases, JP Morgan experienced a 45% decline of its Registered Gold Inventories in one day.  JP Morgan now only has a lousy 10,777 oz of gold remaining in its Registered gold inventories.  
Basically, JP Morgan holds 1/3 metric ton of gold in its Registered inventories.  This is the reason we are seeing the paper gold ratio on the COMEX above the 250/1 ratio.  If we look at the COMEX warehouse table below, we can see just how little Registered Gold remains on the exchange: - SRS Rocco

Graphic courtesy of SRSRocco

This report represents all the gold in all U.S. banks backstopping the paper futures contracts, and has helped skyrocket the paper to physical ratio to 250:1.  Which of course then begs the question, how long can the Comex or GLD survive when it has 250 demands on every ounce of gold it claims to hold in the vaults?

Knowledge of this weakness in supply, and the continuing failure of the global financial system has spilled out into the retail sector as premiums of gold coins from dealers is growing precipitously as demand has now reached historic all-time highs.

HSBC described gold demand from the U.S. Mint as being at a “historically high level” which indeed it has been. The bank report that the Mint has sold 322,000 ounces of gold in the first half of this month.  
Of this, only 91,000 ounces were made up of Gold Eagle coins - the most popular coin with retail investors - although some market participants believe that some of the stock may be being accumulated by large institutional investors.  
And yet, demand for gold eagles is still very strong with demand in Q3 set to dwarf demand of the previous two quarters. With two weeks still to go, total Gold Eagle coin sales have been a staggering 352,500 ounces. - Goldcore
So why has there been a run on gold (and silver) not seen since the 1980's by primarily bullion banks, and consumers who are in fear of what is coming?  An interesting interview by the Dollar Vigilante Jeff Berwick may shed some light on this, and point towards the complete collapse of the dollar as the culprit.

So with dealers, banks, and even sovereign mints running out of supplies at the same time prices are soaring in the physical markets, what alternatives and options are available for you to not only protect your wealth, get it out of the banks and outside the dollar, while at the same time having the power to keep it stored in a physical asset like gold?

The answer lies in Karatbars

Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, you can have the power to move your money into a free e-wallet that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.

The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.