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Switzerland’s central bank is warning of unstable price signals were the country to vote to require the bank to keep a minimum amount of gold in its vaults

The Swiss Initiative, “Save Our Swiss Gold” would be a  “fatal error of judgment,” Thomas Jordan, president of the Swiss National Bank .

The Swiss will vote November 30 to make the Swiss National Bank hold a fifth of its assets in gold, a level it needs to meet within five years. The SNB currently has assets of about $550 billion. Continue reading →

Intrinsic currencies like gold and silver, for example, are acceptable without a 3rd party guarantee.  – Alan Greenspan, (LINK)

The Financial Times is reporting that UBS has agreed to settle charges against it by the UK’s Financial Conduct Authority that it engaged in the manipulation of the gold and silver markets.  While it may come as a surprise to chart wranglers like Trader Dan or interminably hot air windbags like Dennis Gartman and Martin Armstrong that gold and silver are manipulated by the big bullion banks, UBS has de facto admitted to such illegal activity. Continue reading →

JPMorgan Chase (NYSE:JPM), which completed the sale of its physical commodities unit Swiss trader Mercuria for $800 million last month, says is not leaving the business and plans to continue financing metals and crude oil, FT.com reports (subs. required). Continue reading →

The gold price broke below key support at $1,180 this morning, hitting its lowest since July 2010, after the dollar rallied further on news that Japan will aggressively expand its stimulus measures.

The spot gold price hit a low of $1,167.20 before staging a small recovery to its current level of $1,173.00/1,173.80 per ounce, still down $26.50 on Thursday’s close. Continue reading →

From Bloomberg:

Add the bear market for oil prices to the list of reasons that U.S. inflation is still tame and why some investors see bigger losses in gold. Continue reading →