Salient to Investors: Gold miners will accelerate spending cuts and trim high-cost output as gold’s biggest fall since 1980 threatens to make about 30 percent of production unprofitable. Gold is down more than 20 percent since its record close in August 2011, thus signalling a bear market. Dundee Capital Markets
READ MORE... →Salient to Investors: The fall in the price of gold today was the worst one-day drop in 30 years. Miguel Perez-Santalla at BullionVault said there was one big seller at the COMEX opening on Friday, followed by a seller of 53,000 gold futures contracts on Sunday – unusual in that sellers
READ MORE... →Salient to Investors: Will Bertsch at BMO Capital Markets said all the sectors leading the market down are commodity-backed in some fashion, while today the sharp rise in ETF trading volume shows investors putting on hedges. Jeffrey Sica at SICA Wealth Mgmt said commodities can’t appreciate without China being strong
READ MORE... →Salient to Investors: The most important factor in gold’s decline is that global inflation is falling and gold bugs are scrambling to exit their gold positions at any price. The JPMorgan Chase global consumer price index shows global inflation peaked at 4 percent in 2011 and has fallen steadily since. JPMorgan’s main
READ MORE... →Salient to Investors: Seth Masters at Bernstein Global Wealth Mgmt says: Bubbles today are driven by fear and investors’ desire for safety versus greed and recklessness in the past. Supposed safe havens of gold, bonds and dividend-paying stocks are dangerously overpriced. Over the past 5 years more than a trillion
READ MORE... →Salient to Investors: Loren Gatch at the University of Central Oklahoma said the state legislation promoting gold signals discontent with monetary policy and fear that Bernanke and the Fed are pursuing policies that will lead to the collapse of the dollar. Jim Rickards at Tangent Capital Partners said should Texas
READ MORE... →Salient to Investors: Warren Buffett says the total amount of mined gold in the world could fit into a cube with sides of 67 ft. Thomson Reuters GFMS estimates the amount at 171,300 tonnes, or a cube with sides of 68 ft. Jan Skoyles at The Real Asset Company said
READ MORE... →Salient to Investors: Adam Klopfenstein at Archer Financial Services said the support that gold got from Cyprus is fading, and there are no new reasons to buy. Read the full article at http://www.bloomberg.com/news/2013-03-28/gold-headed-for-worst-quarterly-run-since-2001-amid-weak-demand.html Click here to receive free and immediate email alerts of the latest forecasts.
READ MORE... →Salient to Investors: Marc Faber of the Gloom, Boom and Doom Report said: Printing money creates bubbles because it doesn’t flow evenly into the economic system but stays in the financial services industry and among people who have access to these funds like the wealthy. The printing press helped inflate
READ MORE... →Salient to Investors: Jeffrey Christian at CPM Group said gold on average may average $1,565 an ounce in 2013 as investors shift away from extreme expectations of an imminent collapse of the global financial system and output increases in 2013. CPM said investors expect the global economy to muddle along and sentiment has
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