MAJOR GOLD MARKET INDICATOR SHIFT: TROUBLE FOR FUTURE SUPPLY

One of the major gold market indicators experienced a major shift in 2017.  If we look at this gold indicator over the past several years, this recent trend reversal suggests something has fundamentally changed in the gold market… and in a BIG WAY. According to the World Gold Council, global gold scrap supply declined significantly during the first half of 2017 even though the price of gold increased.  Global gold scrap supply plunged to 563 metric tons (mt) in the first half of 2017 compared...
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News Bites Even if Bitcoin Is The Rising Star, Gold Is Still King

(Kitco News) - Even if bitcoin – known to some as digital gold – is stealing the metal’s spotlight, one analyst points out that the cryptocurrency has a longs way to go before it catches up to bullion, at least in market cap. In dollar terms, bitcoin has surpassed gold prices by a landslide, recently hitting an all-time high above $4,000; meanwhile, gold prices continue to hover near $1,300 an ounce. However, if we look at the market cap of both these markets, gold is still king. “It's ...
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Dollar Rally, Gold and Bonds Getting Clobbered

The thrill and volatility are gone as the dollar is rallying. Gold and bonds are down big with the bonds down over a full point and Gold down $17 trading at $1,274. Gold is once again at a key decision spot as it falls through $1,280; the pressure from the dollar will be blamed. We will call it profit taking in a rallying equity market. Collapsing volatility is the biggest problem at these levels, with money pouring back into the equity market. This is a solid buying opportunity for gold and ...
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Gold demand hits eight-year low: industry body

London (AFP) - Gold demand slumped 14 percent in the first half of 2017 to hit the lowest level in eight years as US traders exited the haven investment, the World Gold Council said Thursday. Global demand dropped to 2,004 tonnes in the first six months of the year compared with the first half of 2016, the WGC said in its latest quarterly report. "The last time H1 demand was lower... was in 2009" when it totalled 1,853 tonnes, a spokeswoman confirmed to AFP. Most of the drop in demand came ...
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News Bites Even If Gold Corrects For Next 2-3 Days, The Trend Still Points Up – Analyst

(Kitco News) - Although the gold market could see a correction for the next few days, the main trend remains up, says one Chicago-based analyst. “A trade through $1249.40 will change the main trend to down. The next major upside target comes in at $1305.50,” noted James Hyerczyk, publisher of The Pattern, Price & Time Report. Gold ended slightly lower Monday after hitting an overnight six-week high. December Comex gold futures last traded at $1,275.80 an ounce, up $0.50 on the day. ...
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Oil Climbs as U.S. Supplies Shrink to Lowest Since Start of Year

Oil surged to an eight-week high after the government said U.S. stockpiles shrank to levels last seen at the start of the year. Futures rose 1.8 percent in New York. Crude inventories declined by 7.21 million barrels last week to the lowest since Jan. 6, according to data from the Energy Information Administration Wednesday. Gasoline stockpiles fell for a sixth week to the lowest level since December, the data showed. “The primary driver behind the rally is that you’ve got more inventory d...
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Amber Waves of Grain

Of the 14 commodities we track closely at U.S. Global Investors, wheat rose to take the top spot for the first half of 2017, returning more than 25 percent. The grain was followed closely by palladium—used primarily in the production of catalytic converters—which gained 24 percent. To view our ever-popular, interactive Periodic Table of Commodity Returns, click here. Between the start of the year and June 30, the Bloomberg Commodity Index contracted 4.03 percent, with energy weighi...
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His Gold Calls Have Been Quite Accurate; Now He’s Calling The Bottom

(Kitco News) - It seems the best way for investors to make money in the gold market lately is by being on the bearish side, but according to one analyst with a strong track-record, this trend could change. “Gold dropped 5 weeks in a row after my May 29th bearish call. All indicators tell me that a trend reversal is imminent,” noted Lejun James Shao, founder of www.myIRAs.net, in a Seeking Alpha post Wednesday. So far this year, Shao’s gold calls have been “quite accurate,” as he put it. ...
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Gold heads for first monthly loss this year as rally stalls in Q2

Gold eased on Friday to stay on track for its first monthly loss this year, as hints from leading central banks that the era of easy money may be coming to a close pushed bond yields higher, hurting the non-interest bearing metal. While it is still up 8 percent in the first half, gold has stalled in the second quarter after a strong start to the year, and is little changed from where it ended March. Spot gold was down 0.27 percent at $1,241.91 an ounce, while U.S. gold futures for Augus...
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Gold Prices Correct As Expected

Gold prices had some price action that was on expected lines. We had mentioned in our forecasts over the last few days that the prices would find some support in the 1240 region and once it began to consolidate for some time over there, it was clear that it was preparing itself for a bounce and thats what we saw as the prices began to bounce. We had then set our targets near the 1260 region and had expected the prices to reach there and then begin to start correcting again as the next leg of the...
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