Salient to Investors: Jeffrey Currie and Damien Courvalin at Goldman Sachs said: Gold will fall into 2014 as the Fed tapers on the back of an acceleration in US activity and a less accommodative monetary-policy stance. Goldman’s economists expect tapering next week. Goldman maintained 3 and 6-month targets for gold at $1,300,
READ MORE... →Salient to Investors: A Bloomberg poll of investors, analysts and traders showed: 40% see the euro-area economy as improving, more than 4 times the number in May 40% see the world economy as strengthening, the most since January 2011. 52% expect stocks to produce the best return over the next
READ MORE... →Salient to Investors: Jonathan Butler at Mitsubishi Intl (Europe) expects Fed tapering for the remainder of 2013 which would be bearish for gold. 65 percent of economists expect Fed tapering in September. John Paulson cut his stake in the in the SPDR Gold Trust by 53 percent in Q2. Hedge funds et al
READ MORE... →Salient to Investors: Hedge funds et al are making the biggest bet on a gold rally since January 22 amid mounting signs that the U.S. will lead a military strike against Syria drove prices to a three-month high. Net-bullish holdings across 18 US-traded commodities climbed to the highest since February.
READ MORE... →Salient to Investors: August sales of gold coins by the US Mint were the lowest since July 2007, retreating for the fourth straight month. Paul Kavanaugh at FuturePath Trading said after the April surge we have not seen that kind of demand as equities and the dollar look more attractive. Read the
READ MORE... →Salient to Investors: The World Gold Council data show that consumer buying of gold rose 53 percent in Q2 from a year earlier, almost making up for the record sales of gold ETPs. The Council sees a dampening of demand in the next few months in India due to restrictions on imports, but
READ MORE... →Salient to Investors: Gold’s swift fall has ravaged livelihoods around the world, while investors who lost big are shifting assets elsewhere and scaling back retirement plans. The market value of the world’s gold mining companies is down $271 billion since the September 2011 peak of $486 billion. Gold hit $850 on Jan.
READ MORE... →Salient to Investors: Hedge funds cut net-long gold positions by the most since June. while holdings of short contracts rose 26 percent. Net-bullish bets across 18 US-traded raw materials dropped to the lowest since March and a measure of bets on agricultural commodities turned negative for the first time. Holdings in global ETPs backed
READ MORE... →Salient to Investors: Jeremy Grantham said: The biggest issue we face is deterioration of the environment, particularly climate damage. In the US, the biggest problem is coal and tar sands. If we burn half or more of the coal and tar sands in two areas in North America, there is
READ MORE... →Salient to Investors: Louise Yamada at Technical Research Advisors said steeply declining monthly momentum and moving-average signals indicate gold may resume a slump as the parabolic stop-and-reverse system and the 10-month moving average below the 20-month measure remain intact after the rally. Yamada said gold may near the 34-month low of $1,179.40
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