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Russia, China Buying Gold And So Should You!

The IMF still holds the uS as the largest gold holder by a wide-margin. These self-reported numbers are not too reliable as countries have incentives to under report or over report gold reserves.

China is believed to have under-reported gold reserves, and many analysts have written about vast gold reserves growing in the nations.

Russia receives less attention in the precious metals arena but that is because it is a smaller economic power than China.  Nonetheless, the Russian central bank has recently announced that is purchased 30 tons of gold in March with IMF statistics currently placing Russia as the 5th largest gold reserve. But, do we know its true reserves? Many claim no. Continue reading

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Gold Eagles Sales Down But Fundamentals Remain

Although sales of American Gold Eagles fell, the price of gold has been on a tear in recent months and weeks as stock market questions remain and global geopolitical instability puts in questions Europe, Russia, Japan, China and the US. Few have been immune to question regarding market health and gold has long been a safehaven.

Some analysts are today calling art and real estate has stores of value but if instability continues to rock markets investors will soon see the truth: physical gold bullion is the way to go.

As Reuters writes:

NEW YORK, April 30 (Reuters) - The U.S. Mint's sales of America Eagle gold
coins in April fell 37 percent from March, while 2015 sales so far have dropped
for the second straight year, government data showed on Thursday.
The Mint said it sold 29,500 ounces of American Eagle gold coins in April,
down from the 46,500 ounces in March but still well above the 18,500 ounces in
February.
Sales for the first four months of the year have reached 175,500 ounces,
down 3.6 percent from the first four months of 2014 as traders waited to see if
the U.S. Federal Reserve will raise interest rates, something that would
pressure bullion prices.

(in ounces)
Gold Silver Platinum
2015 2014 2015 2014 2015
January 81,000 91,500 5,530,000 4,775,000 0
February 18,500 31,000 3,022,000 3,750,000 0
March 46,500 21,000 3,519,000 5,354,000 0
April 29,500 38,500 2,851,500 3,569,000 0
YTD Total 175,500 182,000 14,922,500 17,448,000 0

(Reporting by Marcy Nicholson; Editing by Marguerita Choy)

It is important to understand that consumer demand is hardly a good show of strength for the gold market, as the same fundamentals which led for it to run from $350 to $1920 still exists.

The main difference this time around, of course, will be that the gold take off point will be much higher.

At United CPM we are keeping a close eye on these markets and look forward to truly one day serving you.

Posted in Expert Advice

“Gold Is A Live Market Right Now” Says HSBC Analyst

The gold market is certainly a live market right now, with two up-days in a row contributing to the feeling around the markets that things could begin to change in the coming months for the precious metals markets. Continue reading

Posted in Expert Advice

Gold Price Increases On Technical Buying

With gold prices climbing Monday afternoon, gold investors can take solace in the yellow metal reaching the $1200 handle, which is the highest gold price in nearly one entire week. World stock markets continue to hit all the time with news that Greece is working on bailout terms.

Yaris Varoufakis tweeted this week that he welcomed “hatred” from the Eurozone partners, calling him “amateur” and “time waster”. He was demoted from chief co-ordinator for foreign minister Euclid Tsakalotos, which was bullish for european markets. Continue reading

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Uncertified Gold Low Premiums Offer Investors Opportunity Of A Lifetime

The following chart uses an annual premium taken in January of each year, with the high and low premium taken from that 13 year span. Continue reading

Posted in Blog, Expert Advice

China’s Secret Gold Holdings Increasing, Says Bloomberg

With The People’s Bank of China having tripled its gold stockpile since April 2009, the Bloomberg Intelligence estimates the nation’s gold stockpile to be 3,510 metric tonnes, second only to the United States’ 8,133.5 tons.

That figure is nearly triple the 1,054 tons of gold the nation reported in 2009, and was calculated based on trade data, domestic output and China Gold Association figures.

Analysts believes China has acquired gold to make the yuan a more competitive option against the US dollar.

The People’s Bank of China Governor Zhou Xiaochuan made it his unspoken mission to turn the yuan into a globally competitive currency, as well an IMF reserve currency. China has thus implemented numerous economic reforms.

The Dollar is the most popular reserve currency. It accounts for 63 percent of world central bank holdings, with the euro coming in second at 22 percent.

The yuan was the seventh most used currency worldwide in SWIFT payments. As GoldSeek writes,

Enter the Dragon. China’s push to challenge U.S. dominance as the global economic superpower and to challenge the dollar as a global reserve currency involves gold – “a lot of gold.”

China may soon make public that it has quietly accumulated a massive hoard of gold in recent years. This was done in order to bolster their bid to have the yuan included in the basket of currencies that make up the IMF’s Special Drawing Rights (SDRs) according to an article by Bloomberg.

This is something Jim Rickards, ourselves and many analysts in the gold sector have said would happen for some time. The People’s Bank of China’s (PBOC) quiet ongoing accumulation of gold is something we frequently cover as we believe it is an important demand factor in the market that is largely ignored by most analysts and in most coverage of the gold market.

 

Posted in Blog, Expert Advice

Analysts Expect A Weakening Dollar In Coming Months

The US dollar is looking weak in wake of poor news. Many analysts expect this weak dollar to continue which could cause a spike in the price of gold.

With the dollar sinking on Tuesday due to March US retail sales data, gold has continued its pattern of moving with the greenback. The dollar fell nearly 1%, while gold fell approximately half-a-percent. Continue reading

Posted in Expert Advice

People Are Growing Interested In Gold Again

Gold demand has increased in US while settling in the Eurozone on lack of news in the latter. Despite low prices, investors are looking to take advantage of buying opportunities in a market that could respond to market volatility in the US stock markets.
Demand is not only increasing in the US, but has remained strong in China.

Continue reading

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Rand Paul Announces 2016 Presidential Bid

Senator Rand Paul’s Presidential announcement came from his twitter account in the form of a video, which compiled Paul’s speeches and fans chanting his name.

The video displayed the following full-screen text: “On April 7 one leader will stand up to defeat the Washington machine and unleash the American dream.” Continue reading

Posted in Expert Advice

World Growth Projected To Stall By IMF

World growth fell in the wake of the 2008 financial crisis and the International Monetary Fund thinks the economy is “likely to lag for years.”

The world’s potential for growth has been slowing since before the financial crisis due to aging populations and a drop in technological innovation, according to the IMF. Continue reading

Posted in Expert Advice
World Spot Prices
(Updates Every 30 Seconds)
-1.43

Gold

Bid: $1,279.37
Ask: $1,280.37
-0.01

Silver

Bid: $16.96
Ask: $17.06
-2.87

Platinum

Bid: $933.49
Ask: $938.49
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