Salient to Investors: Jim Rogers says: Avoid gold mining stocks because miners face stiff competition, and there are now many easier ways to own gold – coins, ETFs, ETNs, futures. Gold will bottom in 2014 or 2015 because eventually prices below the cost of production will cause tightness in supply
READ MORE... →Salient to Investors: Jim Rogers owns and is buying gold. Read the full article at http://www.jimrogers.info/2013_07_01_archive.html Click here to receive free and immediate email alerts of the latest forecasts.
READ MORE... →Salient to Investors: China’s net gold imports from Hong Kong increased 40 percent in May from a month earlier. Bruce Liu at ANZ Bank said demand was quite strong in May with people rushing to gold shops because they thought prices had hit bottom. Gold sales from Australia’s Perth Mint declined for a
READ MORE... →Salient to Investors: Hedge funds are the least bullish in 6 years and ETP holdings dropped to a 3-year low. The US Mint sold 19 percent fewer ounces of American Eagles in June than in May and 73 percent less than in April. Australia’s Perth Mint said coin and bar sales dropped for a
READ MORE... →Salient to Investors: John Ryding at RDQ Economics said: Unlike with stocks, there are no tools or models that determine the fair price of gold – it is psychological. Industrial and jewelry demand total only 55% of demand. The 10-yr bull market was caused by the Fed being incredibly accommodative –
READ MORE... →Salient to Investors: Money managers reduced their net-long position in gold to the lowest since June 2007, while shorts climbed to the second-highest on record. ETP holdings are at a 3-year low. Banks from Goldman to Credit Suisse cut their gold forecasts last week. Mark Luschini at Janney Montgomery Scott said
READ MORE... →Salient to Investors: Binky Chadha at Deutsche Bank said the market had been pricing in that the Fed would normalize rates much more slowly than it has done historically, and the shock has spilled over across all of the asset classes. The World Bank said the world economy will expand 2.2 percent
READ MORE... →Salient to Investors: Jim Rogers says we are close to a bottom in gold as many leveraged players are being forced to sell – a typical sign. Read the full article at http://www.jimrogers.info/search?updated-max=2013-07-02T04:30:00-05:00&max-results=5 Click here to receive free and immediate email alerts of the latest forecasts.
READ MORE... →Salient to Investors: Alexander Friedman at UBS says: What Fed has done is not unexpected and the market reacted because it was ahead of itself. All the Fed was saying was that the US is doing OK, that the data is trending as it should, and that it has confidence
READ MORE... →Salient to Investors: Standard Chartered advised buying gold around $1,200. Matt Zeman at Kingsview Financial said there is definitely some increase in the pace of physical purchases, and we are seeing short covering after prices started rising. Sun Zhaoxue at China National Gold Group said China should buy gold to back
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