This story of the Canadian Mint actually losing Gold is distressing in itself however it also has deeper ramifications for those of us who want to own gold. This incident raises the question, that if the mint can lose gold so can others such as banks and gold funds.

Please read this excerpt from an article on Bloomberg (read more…)

By Olivier Garret, CEO, Casey Research

A friend of mine mentioned to me that he was surprised that “bankrupt GM” was spending some serious advertising dollars to try to lure customers to its website.

My comment to him: It makes sense, if it is done properly!

Yes, it is often necessary for a distressed company to communicate with its customers (advertise) and assure them that the future is brighter. That said, GM appears to have it all wrong once again (read more…)

Has anyone noticed the number of shops that have opened for the purpose of buying and selling gold?

A friend of the site has told us that there is now a trader in The Glades shopping center in Bromley, Kent, UK who has set up a stall and is offering to buy anything golden, broken jewelry, scrap gold etc (read more…)

As well as dealing with near 10% unemployment, an economy in recession and severe inflationary pressures looming right around the corner, Ben Bernanke must also work to assure his reappointment, with his term ending this January.

In addition to this, Bernanke is attempting to convince Congress that the Federal Reserve should have a more leading and powerful role in a new restructured financial system.

Do you think Bernanke should be reappointed for another four years as head of the Federal Reserve?

We (read more…)

Chart courtesy of Stockcharts

At the time of our last update on the 26th May 2009 we said that the dollar now looked oversold and a short term bounce could be on the cards thus capping the progress in gold prices. We also said that Gold was technically close to the top of its range so it too could experience some short term consolidation or a slight pull back. Gold has moved down since then from $957.90/oz to $935/oz as we write however the dollars rally appears to have stalled as it is still hovering around the ‘80′ level.

For short term traders we suggested taking some profits on both Randgold and Yamana, we decided to sell all of our holdings in Randgold Resources and we then took an aggressive stance and bought PUTS on Randgold as we perceived that it was more overbought than similar stocks in the pack. We do however remain tight hold of our core position as gold could take off in an explosive manner catching many by surprise. We hope to close our down bet on Randgold shortly and re-position ourselves for the coming rally in gold prices (read more…)

The chart above depicts the price of spot gold when compared to gold resources and was sent to us by Louis James, Senior Editor, International Speculator accompanied by the following article:

Before last fall’s crash, our economic views here at Casey Research were regarded by many in the mainstream as being extreme and alarmist. Unfortunately, they were also another thing: correct.

Predictably, having been proven right hasn’t changed anything; Wall Street still pooh-poohs us as being part of the lunatic fringe. But that’s okay; while the Suits are wondering if they can back-date their stock options far enough if the economy doesn’t recover, we are poised to profit whether it does or doesn’t (read more…)

Chart courtesy of Stockcharts

The de-leveraging that occurred last fall was largely attributed to the hedge funds running for cover however, not all the hedge funds have disappeared as John Paulson demonstrated by taking a 4.5% stake in Kinross Gold Corporation (KGC) (read more…)

This is an interesting analysis of timing your gold purchases sent to us by Jeff Clark, Editor, BIG GOLD

I bet you don’t own enough gold.

Before you tell me I’m wrong, let me ask it this way…

If inflation returns, or even hyperinflation…
If the economic crisis persists and gets worse…
If uncertainty and fear continue, and chaos and rioting begin…
If stock markets languish or suffer another meltdown…
If the recovery spending of the world’s governments proves futile… 
If government interference in the economy continues to increase…
If the value of the U.S. dollar takes a major fall…
If world recovery from the current recession/depression takes years…
If you’re still wondering whether you have enough “safe” money…
…would you feel you own enough gold (read more…)

Chart courtesy of Stockcharts

As we can see from the above chart Yamana Gold Incorporated (AUY) has been severely sold off recently which could be present us with a future options play as and when gold moves higher. Many of the stocks in this sector have experienced a similar fall and all in a short time too, just shows what a volatile market sector this is (read more…)

With the HUI having risen from 280 to the 400 level at the beginning of June 2009 we took the view that it was time to take some action that would protect our portfolio. Gold was at $980/oz and the US Dollar was looking extremely oversold with the possibility of a bounce on the cards (read more…)