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

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 17 2017
By: Ira Epstein

Next-Generation Crazy: The Fed Plans For The Coming Recession
By: John Rubino

COT Gold, Silver and US Dollar Index Report - November 17, 2017
By: GoldSeek.com

Gold Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Bonfire of the Absurdities
By: John Mauldin

The Social Security Inflation Lag Calendar - Partial Indexing Part 1
By: Daniel R. Amerman, CFA

Rob From The Middle Class Economics
By: Gary Christenson

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

The Metals Market Is A Mess And Will Likely Continue To Frustrate You
By: Avi Gilburt

 
Search

GoldSeek Web

 
"That is real gold. The alternative is paper gold…other people’s promises."


 -- Published: Tuesday, 15 September 2015 | Print  | Disqus 

One of the best interviews we have seen about gold in recent weeks took place last week. It was a Bloomberg interview which involved Peter Hambro being interviewed by Francine Lacqua and Manus Cranny on Bloomberg Television’s “The Pulse.”

GoldCore: Hambro Wealth Insurance

Some of the great quotations from this refreshing interview include:

  • “I believe it [gold] is [still the safe haven]… [This gold coin] 2000 years ago buys the same amount of bread today as it did when Jesus Christ was born. That is a real safe haven asset…
  • “That is real gold. The alternative is paper gold…other people’s promises. That is nobody’s promise. This is real. You can feel the weight of it. It’s lovely… “
  • “It’s virtually impossible to get physical gold in London to ship to China and India.”
  • “Are you sure it’s as good to have Comex futures as it is to have the real thing?”
  • “The price of gold doesn’t vary, it’s the price of the promises that vary.”
  • “There is no physical about. Instead, there are endless promises.”
  • “I really worry that that paper market is something that could be stamped upon and people say ‘sorry, we’re going to have a financial closeout’ and it’s all over. If you want to be in the gold business, you want to be in the physical business.”
  • “Gold is what I call wealth insurance. You have health insurance, fire insurance – this is wealth insurance…
  • “The promises are the things that vary. Are you sure it’s as good to have Comex futures as it is to have the real thing? In the Shanghai market, which is the only big physical market, recently introduced by the Chinese – year on year, they delivered 55 million ounces from August to August. That’s 65 billion dollars worth of physical gold. That is about half of the world’s mine supply. When you add to that the gold that’s being bought by the People’s Bank of China… Chinese demand… What the Chinese have done for their people by encouraging them to buy gold, then devaluing their currency, is fantastic…”

Hambro was a bullion dealer with Mocatta & Goldsmid and from comes from a wealthy line of Anglo-Danish merchant bankers. Today he is Chairman and Co-Founder of Petropavlovsk, the second-biggest gold producer in Russia. Hambro knows more about gold than most in the industry and has that all important historical perspective.

The interview is well worth a watch and can be seen here.

DAILY PRICES
Today’s Gold Prices: USD 1105.50, EUR 977.11 and GBP 716.49 per ounce.
Friday’s Gold Prices: USD 1108.00, EUR 977.98 and GBP 716.97 per ounce.
(LBMA AM)

Gold had a marginal gain of 80 cents while silver fell 19 cents, or 1.3%, to $14.44 an ounce on the COMEX yesterday. Gold was marginally lower in gold trading in Singapore and fell a further $2 in European trading. 

GoldCore: Gold in USD - 10 Year

Gold in USD – 10 Years

Silver bullion is underperforming and is down 0.6%, platinum’s down 0.2%, and palladium’s down 0.3% after ending yesterday down over 1%.

All the focus is on the Federal Reserve ‘will they or won’t they’ increase interest rates by a small 25 basis points. The Fed announcement is scheduled for Thursday after a two-day meeting at which it will decide whether or not to make its first interest rate increase since 2006. The interest rate increase in 2006 (see chart above) was followed by higher gold prices as were the interest rate rises of the 1970s.

www.goldcore.com


| Digg This Article
 -- Published: Tuesday, 15 September 2015 | 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 - 2017



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.