Gold Market News

October 7, 2015

Gold prices remain flat after three straight days of gains. Stocks struggle for direction on volatile oil prices. Gold last traded at $1,146 an ounce. Silver at $16.00 an ounce.

U.S. Mint Posts 181% Jump In Gold Coin Sales, Silver Sales Hit 29-Year Record High In Q3 - Kitco--10.1.15
Gold coin sales, according to the latest data released by the U.S. Mint, posted a 181% jump while silver sales hit a 29-year record high in the third quarter of 2015.

Silver-coin shortage shows bright side of precious metal collapse - CNBC--9.30.15
Some mints have had to ration silver coin sales and step up overtime in an effort to fulfill a sudden surge in demand. In Australia, the Perth Mint sold a record of more than 2.5 million ounces of silver this month.

First American dollar could fetch $5 million - CNBC--CNBC--9.29.15
One rare silver dollar from 1794 could fetch as much as $5 million when it goes up for auction this week. This coin is one of more than 1,750 that were minted, and roughly 100 that survived.

Shanghai Gold Withdrawals at Record on Signs of More Demand - Bloomberg--9.29.15
Investors have withdrawn a record amount of gold from the Shanghai Gold Exchange this year. Withdrawals jumped 37 percent, according to data on the website.

Soros, Icahn and Major New Players Rushing Into the Gold Sector: “Things Are In The Works As We Speak”-
According to one of the most well known CEO's in the precious metals mining world, the price of gold and silver is set to explode. Smart investors like George Soros and Carl Icahn will take massive positions ahead of the breakout.

No logical reason left not to buy gold and silver as the Fed’s bluff on interest rates is over - Arabian Money--9.25.15
Gold prices have already bounced $80 off the lows from last month and shows classic market patterns before a big price lift-off.

Gold price rallies after Fed holds rates steady -
Gold prices jumped over $10 on Thursday after the U.S. Federal Reserve announced that interest rates would not be raised from the levels they have been at for the last nine years.

Gold rises after unexpected drop in US inflation - CNBC--9.16.15
Gold prices rose after data showed there was a surprise drop in inflation last month which dented expectations that the Fed will increase interest rates later this week.

"That is real gold. The alternative is paper gold...other people's promises." - Zero Hedge--9.15.15
In a recent Bloomberg interview, market expert Peter Hambro states that he believes gold is still a safe haven. According to Hambro, "That is real gold. The alternative is paper gold.... other people's promises."

Gold scores gain to start week ahead of Fed rate decision - Market Watch--9.14.15
Gold prices settled higher as investors set their sights on the Fed decision on interest rates due out later this week.

Gold Bullion Allowed As Collateral in China - GoldSeek--9.10.15
China's Shanghal Gold Exchange says it will allow physical gold to be used as collateral on futures contracts. According to a statement, physical gold will be permitted to be used for up to 80 percent of margin value.

Gold Rises to One-Week High as Equities Slump Fuels Haven Demand - Bloomberg--8.31.15
Gold rose to its highest in a week as global equities plunged. Concerns over an economic slowdown in China fueled demand for safe haven assets.

Since 2014 Foreign Central Banks Have Withdrawn 246 Tons Of Gold From The NY Fed - Zero Hedge--8.30.15
Austria has become the third European nation to repatriate most of its offshore gold, mostly held at the Bank of England. Since 2014, the trend for countries to repatriate their gold has grown and now total physical gold held at the NY Fed is at the lowest in decades.

Gold shining as markets tumble - CNBC--8.21.15
Gold is hovering near 30-day highs as demand for the precious metal grows. Continued concerns over Chinese growth and expectations of a rate hike by the Fed have added to the jump in gold prices.

Is Soros Bottom Picking In The Gold Sector? - Kitco--8.21.15
Legendary hedge fund manager George Soros is picking a bottom in gold mining shares, which could be a bet that gold is near a bottom too.

Gold hits 5-week high on lower US Sept rate hike chance - CNBC--8.20.15
Gold hits its highest in five weeks as the dollar eased after Fed minutes suggested policymakers were in no hurry to raise interest rates.

Gold Is "Undervalued" For 1st Time In 6 Years, BofAML Says- Zero Hedge--8.18.15
For the first time since 2009, BofAML's fund managers' survey finds gold is "undervalued." For the first time since records began, hedge fund managers are net short gold futures, according to data.

China Surprises for a Second Time This Week With More Gold Data - Bloomberg--8.14.15
China, the world's biggest producer and consumer of bullion, said that it owns about 1,677.4 metric tons of the metal. This is the second update since July after China had been silent for six years.

China announces they will be setting new gold price by end of year - Examiner--7.25.15
On June 25, a representative from the Shanghai Gold Exchange announced that they are planning on establishing a new physical gold price mechanism by the end of the year.

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