“Gold Steadies To 4 Week High” – Gold Goliath

Posted on :Jan 16, 2015

Investors searching for safe-haven assets continue adding to gold gains reaching a 4 week high Friday. The Swiss National Bank decision to remove the Swiss franc’s peg from the Euro remains this weeks top story. Gold last reported a.m. Friday is $1275.60 up $10.40 and silver is $17.63 up 51 cents.

Many brokerages around the world were damaged by the enormous one day move in the Swissy as several FOREX banks stopped quoting Swissy prices. The move by the Swiss National Bank was predicated by the announcement that the European Central Bank would soon begin its monetary policy of quantitative easing.

Overnight the European Union received less than welcomed news as consumer prices dropped 0.2 percent in December. This is the first time inflation has been negative since the bloc started keeping records in 1997.

The Shanghai Gold Exchange is reporting a strong start for 2015 with 61 tons withdrawn from the exchange in the years first trading week. China is in an economic downturn but the nations GDP is strong and growing. As growth remains Chinese wealth will be growing as well and this in turn should draw investors into gold and other precious metals. Chinese gold imports are estimated to be around 1,200 to 1,300 tons last year. This does not include gold produced from its own mines which may produce upwards of 400 tons. China accounts for about half of global gold production.

Goldman Sachs is amazed gold did as well as it did last year as Goldman had predicted gold’s demise. True to their character Goldman is once again this year downplaying gold listing many baseless reasons as to why it thinks gold has further to drop in 2015. Of course the primary reason for their belief is because Goldman like other bullion bankers will continue shorting gold futures. It’s not difficult to speculate on futures prices in any commodities when you are one of the top dogs gaming the system.

Goldman is advising investors to go short on gold this year claiming they do not see gold as an adequate substitute for the “sleep well” portion of a portfolio. Interestingly central banks continue hoarding gold at basement prices. It looks as if what’s good for the goose is not good for the gander.

With every U.S. market being rigged by the Fed and big banks, it’s impossible to use data to gauge any sort of market direction. There are no such things as “real” numbers anymore.

2015 will bring more market manipulation especially in precious metals as bankers attempt to keep investors in global stock markets.

We are currently offering special pricing on the silver maple leaf and American silver eagle. Call us with any questions. 1-800-577-3195

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