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Sunday
Dec042016

All Eyes On Monte Paschi, Whose Bailout Is Now In Doubt, And Italian Bank Sector Contagion

As we noted last night, when we previewed the virtually assured "No" vote, we said that "a strong “No” vote will cause Prime Minister Renzi to resign, leading to political instability in Italy. Furthermore, a "No" vote is expected to kill a long-running attempt to rescue Italy's third largest and oldest bank, Monte dei Paschi, which has been desperate for a private sector bailout ever since it failed this summer's ECB stress test to avoid broader banking sector contagion;

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Saturday
Dec032016

Deutsche Bank to pay $60 million to settle US gold price-fixing case

Deutsche Bank has agreed to pay $60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense.

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Saturday
Dec032016

Don’t Believe The Propaganda, China’s Rise Will Be The Big Shocker In 2017

Despite propaganda to the contrary, China’s rise will be the big story in 2017.

Stephen Leeb:  “Gold is back in business and barring some unforeseen event should soon resume its uptrend. As I recently argued,

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Wednesday
Nov302016

Gold and the Italian Vote

Background

Gold prices are getting pummeled on a daily basis and appear to be coming down as fast as they went up.

First we had Brexit which resulted in both the Euro and the British Pound getting sold off hard. When these two currencies lose value the US Dollar is forced to go higher as per The US Dollar Index. As gold has an inverse relationship to the dollar then gold’s value tends to fall in dollar terms.

The election of Donald Trump also appears to good for the dollar as the expectation is that the re-building of the infrastructure, in all its forms, will give the economy a boost and so investment funds start to flow into the US.

Referendum in Italy

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Monday
Nov282016

The Carnage in the Gold Sector Could Be Over

Background

The gold and silver producers made a blistering start to the year; however, the second half of the year has been a totally different story. The chart below depicts the rise and fall of the gold producers which make up the Gold Bugs Index the HUI. This Index has now fallen 60% from its recent high of 282 which suggests to us that the selling pressure should be just about exhausted. Overall the HUI remains some 72.2% off its high (630-175) made in 2011, so there is plenty of room for the stocks to rise once gold resumes its bull market.


The chart shows that a Cross of Death

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Thursday
Nov242016

Barrick Gold mulls Kalgoorlie bid of roughly $1.3 billion by China’s Minjar: sources

Barrick Gold is reviewing the financial backing behind an approximately $1.3 billion bid for its stake in Australia’s Kalgoorlie mine by Minjar Gold, a unit of Shanghai-listed Shandong Tyan Home , two sources told Reuters.

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Sunday
Nov132016

Marine Le Pen, Beppe Grillo, Geert Wilders, Frauke Petry: has their big moment arrived? 

With elections due across Europe and a referendum in Italy, the establishment fears political tremors

Dogged by the migration crisis and the traumatic business of Brexit – to name just two current, existential challenges to their project –

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Thursday
Nov102016

Gold's White Knuckle Ride Continues

 

A surprise result as Donald Trump wins the presidential race.

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Thursday
Nov102016

Trump Is Not Seeking Yellen's Resignation, But Won't Nominate Her For A Second Term

Donald Trump

As we reported first thing this morning, one of the burning questions troubling Wall Street at this moment, is whether president elect Donald Trump plans on reshuffling the Fed, eliminating its so-called "independent" and perhaps going so far as firing or "requesting" Janet Yellen's resignation. 

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Monday
Nov072016

Former Soros Associate Just Warned This Is Going To Send The World Into Total Chaos

As investors await the outcome of tomorrow’s election, a former associate of George Soros just warned King World News about what is going “to send the world into total chaos.”

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