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Showing posts with label spot price. Show all posts
Showing posts with label spot price. Show all posts

Tuesday, December 27, 2016

China's gold market now being used to back the expansion of the Yuan

The antiquated 'gold standard' now appears to not be the only way to back one's currency with a precious metal as a new program instituted by the Shanghai Gold Exchange (SGE) will soon aid in the expansion and internationalization of the Chinese Yuan.

Just prior to the Christmas break, the SGE launched a new English language website that has the primary purpose of allowing foreigners to access products and purchase gold in RMB.  And since the SGE is the world's largest physical gold market, this move has the two-fold effect of first allowing individuals to bypass London and the Comex if they have no interest in paper gold trading, and secondly to aid in the expansion and internationalization of the Yuan in global trade.

Last week the Shanghai Gold Exchange (SGE) launched a new English website to offer international customers more information and tools on trading gold in renminbi through its subsidiary in the Shanghai Free Trade Zone the Shanghai International Gold Exchange (SGEI). BullionStar took the opportunity to translate a speech by a Teng Wei, Deputy General Manager of the SGEI, named “How China’s Gold Market Can Help The RMB Achieve International Status” that was held at the Renminbi World summit in Beijing on the 29th and 30th of November 2016. In the speech Teng Wei outlined his vision for the SGEI going forward regarding renmibi (RMB) internationalization, connecting the onshore and offshore renminbi market and increasing gold market share. - Bullionstar via Zerohedge
weekly-sgei-sge

Graphic courtesy of Bullionstar

Over the past 45 days the Shanghai Gold Exchange has begun to disconnect itself from the global price standard set twice a day in London and New York by adding premiums of between $30 - $50 to their designated 'fix price'.  And by having a price spread of this magnitude so far above that of the Western paper gold markets, opening up a new portal for U.S. and European traders to buy gold, even in the Yuan currency, will lead to a massive increase in their market share of the global gold market and an ever expanding increase in transactions being done in the Chinese RMB.

Tuesday, December 20, 2016

Growing spreads between London and Shanghai means that very soon China will take control over gold pricing

Two weeks ago, Deutsche Bank publicly admitted that they and several other banks have been manipulating the price of both gold and silver for several years now.  And yet despite these admissions, both London and the Comex have been smashing down the price of each to the point now where the markets can no longer even facilitate a break even cost for companies producing the metals.

“The analysis of FCF breakeven price suggests that 50% of the gold miners generate free cash flow below $1,150/oz gold with an average FCF breakeven gold price of US$1,135/oz for 2016E,” BMO said. “Excluding dividends, the FCF breakeven gold price for the miners declines to $1,070/oz in 2016E. 
Silver miners may be “less prepared,” however, after enduring a deeper correction in the price of silver relative to gold, BMO said. Three out of 11 companies report FCF breakeven costs for 2016 that are estimated below $15 an ounce, BMO said. - Kitco
As of Dec. 20, the current spot price for gold in London was $11.25, which according to the above study means that the manipulated 'fix' price at the Comex is now $10 below the average cost necessary for 50% of the miners just to break even.

However, as noted in an article published over the weekend here, spot prices out of Shanghai are at least $50 more than what is set in either London or New York, and premiums for metals are even higher than this when purchased in large quantities by investors, stackers, or speculators.

This dislocation in prices between Eastern and Western markets is now creating a nexus point where according to long-time bullion analyst Jim Sinclair, as well as by the CEO of Matterhorn Capital out of Switzerland, China is growing ever closer to being the primary market for determining gold and silver prices, and leaving London and New York with little metal to back their paper contracts.
For those distraught over the COMEX paper futures price of gold plunging towards $1,000/oz, Switzerland’s Egon von Greyerz has some information for you: 
I am not upset because I know one day, COMEX will default. The futures market will default. The banks will not be able to deliver the paper gold they have issued. One day people will come in and try to get their gold, and there won’t be any gold when they ask for it. How can you be nervous (holding gold)? The truth will eventually come out, and that truth will be very painful for all the paper holders of gold.” - Greg Hunter via Silver Doctors

Tuesday, April 5, 2016

World's largest bank (China) becomes a market maker with the LBMA

On April 5, an under the radar piece of news came over the wires that will have a strong influence in China's plans to set their own spot prices in both gold and silver soon through the Shanghai Gold Exchange.  This is because the London Bullion Metals Association (LBMA) has approved China's largest bank, and in fact the world's largest bank, the ICBC, to become a new market maker with the institution.



ICBC Standard Bank, China and the world’s largest bank, has been reclassified as a spot Market Making Member of the London Bullion Market Association (LBMA) with effect from today according to a note posted on the LBMA website last night at 2100 GMT. 
Submitted by Mark O’Byrne: 
“In order to qualify as a LBMA Market Maker, a company must offer two-way quotations in both gold and silver to the other Market Makers throughout the London business day. 
Reclassification is the responsibility of the LBMA Management Committee. In deciding on the issue of reclassification, the Committee takes account of the views of the other Market Makers on the performance of the candidate company during an approximately three month probationary period. 
Total LBMA membership stands at 146, consisting of 13 Market Making Members, 67 Ordinary Members and 66 Associates Members. The membership list can be found on the LBMA’s website.” 
ICBC becoming a new LBMA market maker in the gold market, while expected, is an important development and again shows China’s intent with regard to becoming a key player in the global gold market. - Silver Doctors
This new affiliation with the LBMA as both a market maker, and as an entity who will be able to set spot prices for gold, comes just two weeks before their expected move to allow the Shanghai Gold Exchange (SGE) to begin setting prices in the physical market in direct competition with both London and the U.S. Comex.

Monday, September 21, 2015

Want the signal that gold is going up in price soon? Now we may have it

The first rule of precious metal stacking club is that you don’t talk about precious metal stacking club.  And while this may be a clever play on words from the cult classic movie, Fight Club, in the investment arena it is a given rule that you also don’t talk about positions you are accumulating until you already have your shares bought.
The reason why is, if everyone discovered that a heavy trader or hedge fund manager like Carl Icahn or George Soros were buying something in great quantities, then people would rush in to get on their coattails to profit from some inside information only they might have.
Which makes it very interesting to discover that the insiders and elites who have publicly discredited physical precious metals like gold and silver for years now are themselves buying it en masse when the media and their paid tools on business television are dissuading everyone else that gold is worthless, and little more than a ‘pet rock’.

Tuesday, July 7, 2015

Got Karatbars? U.S. Mint out of silver coins and closes window for near future

On July 7 the U.S. Mint made the announcement that they were closing the bullion window, at least until August, because they were completely out of silver eagle coins for sale to the public.  This is the first suspension of sales since Autumn of last year, and signifies a growing flight by the public out of paper assets like stocks and bonds and into precious metals and other hard assets.

The US Mint has just notified Authorized Dealers that it is ENTIRELY SOLD OUT of Silver Eagles, and WILL NOT TAKE FURTHER ORDERS UNTIL AUGUST 2015!
This morning we warned that a massive jump in silver premiums was imminent as premiums on 90% silver had tripled in the past 48 hours.
Less than 3 hours later, that has been confirmed as the US Mint has just SOLD OUT ENTIRELY of all Silver Eagles and suspended sales for at least 3 weeks. 
The Mint also advised when sales resume Silver Eagles will once again be on allocation.
Wholesale premiums instantly jumped 50% on the news…for the few authorized dealers who had any coins remaining in inventory.
We will keep you updated as the silver shortage progresses. - Silver Doctors

It is ironic that as metal sales have skyrocketed over the past month, paper spot prices have been crushed down, including this morning when someone shorted the market for over $1 billion in naked contracts, bringing the price below the 100 day moving average (MA), and to lows not seen this year.  This validates how much pressure there is in the commodity derivative markets, and how those on the wrong side of the trade cannot afford for price to rise, similar to the way the Fed cannot ever let interest rates climb.

The bottom line... the paper market is imploding, liquidity is drying up, and the smart money is buying precious metals NOW hand over fist.

So how can you get into the game, protect your wealth, and be leveraged to thrive in whatever result, or change comes from this market volatility?

The answer lies in a company called 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.

How to make money in both the Dual and Uni-level systems of Karatbars




How to make a six figure income using Karatbars in just 7 weeks.



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.