Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

SWOT Analysis: Gold Is Now 85 Times More Expensive Than Silver
By: Frank Holmes

Why Are Wages So Low
By: Keith Weiner

GoldSeek Radio: Dr. Raymond Moody and John Williams, and Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update September 24 2018
By: David Chapman

What Comes Next
By: Adam Taggart

China for the Trade Win?
By: John Mauldin

US/Global Stocks, Commodities, Precious Metals and the ‘Anti-USD’ Trade
By: Gary Tanashian

Central Bank Gold Purchases Now Control 10% Of The Total Market
By: Steve St. Angelo

Good, Bad and the Not-So-Ugly in Gold
By: Rick Ackerman

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Modest Gains on the Week
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Faber: Gold Good Value, Diversify With All Precious Metals - Safest To Store In Singapore


 -- Published: Friday, 4 April 2014 | Print  | Disqus 

Today’s AM fix was USD 1,293.50, EUR 943.75 and GBP 780.02 per ounce.
Yesterday’s AM fix was USD 1,287.25, EUR 935.09 and GBP 775.13 per ounce.

Gold fell $3.70 or 0.29% yesterday to $1,286.30/oz. Silver slipped $0.12 or 0.6% yesterday to $19.84/oz.


Gold in U.S. Dollars, Weekly - (Thomson Reuters)

Gold trimmed a weekly decline as investors await the U.S. payrolls data. A good jobs number could lead to further gold weakness. A disappointing number should lead to safe haven demand on concerns about the U.S. economy.

Spot gold was up 0.4 % or $7 to $1,293.00 in afternoon trade in London. It is on track for a third straight week of losses, its longest losing streak since September. It hit a seven-week low of $1,277.29 on Tuesday and remains marginally lower for the week despite the gains today.

Bullishly for gold, U.S. Fed Chair Janet Yellen said this week that sluggish growth in labour markets mean accommodative policies will be needed for some time. Last month, she had said that the Fed may end bond buying this fall and raise borrowing costs six months after that.

While speculators continue to play games with the paper or digital price of gold at quarter, half year and year end, physical demand continues to be robust globally and especially in Asia. ANZ Banking Group said yesterday its gauge of demand in China increased last month. China, the world’s biggest buyer continues to import huge quantities of gold on a monthly basis and will likely have another record year of imports and total demand in 2014.


Gold in U.S. Dollars, 10 Year - (Thomson Reuters)

Middle Eastern demand remains firm too. Iraq’s central bank is diversifying into gold and also has plans to process 11 metric tons for public sale, and will import gold bars to sell to goldsmiths.

Video: Dr Marc Faber On The Manipulation Of Gold Prices, Bitcoin Risk, Precious Metal Allocations and Safe Gold Storage In Singapore

Today Dr Marc Faber gave insights into his strategies for protecting and growing wealth in 2014 and beyond. In the webinar, some of the topics covered with Dr Faber included:

Why he now believes that gold manipulation is a strong possibility
*Technical risks of bitcoin and assets and money intermediated and dependent on technology?
*Asian investment opportunities and why he likes Vietnam, Thailand, Hong Kong and Singapore
*Western stagnation or collapse?
*How to own precious metals?
*Dollar cost average or lump sum?
*Take profits/ rebalance or buy and hold for long term?
*Allocations to precious metals?
*Favoured asset allocation?
*Other investment and business opportunities?
*The yuan as global reserve currency?
*Why small is beautiful when it comes to economies, nations and currencies
*Ireland, Spain, Italy, Greece and others should consider leaving the euro and returning to national currencies.

The interview was as informative as ever and Dr Faber took the time to answer some questions from participants. Key thoughts from Dr Faber:

On outlook for gold prices: “Gold price essentially should move higher, compared to all these factors I have mentioned, the price is relatively low at the current time.”

On gold manipulation: “I can believe it. Something is funny. If the U.S. cannot deliver the gold that Germany want to repatriate within one week, the question arises do they actually have the gold or not?”

On national currencies versus monetary unions: “I believe the best system in the world would be to have small countries and avoid large sovereign states. If you look at which are the most prosperous countries - they are Singapore, Norway, Finland, Sweden, Switzerland, basically small sovereign states and democracy functions in a small society rather than a large society … I would recommend to any small country to leave the eurozone.”

On cryto currencies and bitcoin: “I don’t know the value of a bitcoin. I own gold because when the system breaks down, I want to have some cash. With a bitcoin, there is a scenario where the system breaks down and you have no internet access and then what is the value of your bitcoin?”

The interview can be watched here “Gold Bullion Stored In Singapore Is Safest - Marc Faber”


| Digg This Article
 -- Published: Friday, 4 April 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.