Saturday, August 25, 2012

PBOC Advisor Recommends China Add Silver To Official Reserves

A prominent PBOC Advisor has stated that US Treasuries are not safe in the medium to long term, and has recommended China increase it’s gold reserves as well as add silver to it’s official reserves.
If confirmed, this is a potential game changer for silver that is so monumental it could literally blast silver from the upper $20′s through it’s all-time nominal high near $50 and closer to 3 figure range OVERNIGHT.

Eric Sprott Talks About A Shortage Of Physical Gold!

“When I reflect back over the decade, I think I can come almost come up with 2,500 tons of net change in physical demand, in a 4,000 ton market on the supply side, which hasn’t changed in that 12 years, that was in balance 12 years ago.  How do these ETF’s get to buy gold?  How do these central banks go from sellers to buyers?”

"There’s a shortage of physical gold already (that’s available for sale at these levels)." 

Click Here To Read More From KingWorldNews.Com

Wednesday, August 15, 2012

2 Billionaire Investors (Soros & Paulson) Move Back Into Gold In A Big Way!!

Hedge-fund manager George Soros nearly tripled his stake in the most popular U.S. gold fund during the second quarter. Soros Fund Management held 884,400 shares of the SPDR Gold Trust (GLD) as of June 30, up from 319,550 on March 31.

John Paulson, the hedge-fund manager who is the single biggest reported holder of the SPDR Gold Trust, also revealed more GLD. Paulson & Co.’s holdings rose to 21.8 million shares as of the end of June, versus 17.3 million in the previous reporting period.

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Thursday, August 9, 2012

The CFTC Silver Investigation

By Theodore Butler:

There has been an explosion of interest and commentary these past few days as a

 result of a front page story in Monday’s edition of the influential Financial Times 

(of London). The story stated that the CFTC was set to drop its four year 

investigation into alleged silver price manipulation due to insufficient evidence to 

bring charges, according to three unnamed sources. I went to sleep Sunday evening 

when the story first appeared prepared to wake up to similar and confirming

 stories in other publications. Instead, there were no other stories confirming the 

case was set to be dropped; only strong statements that the FT was story was 

“premature” and “inaccurate in many respects” by a named source, Commissioner 

Bart Chilton of the agency.

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Thursday, August 2, 2012

S.Korea central bank says it bought 16 tonnes of gold in July

SEOUL, Aug 2 (Reuters) - South Korea's central bank said on Thursday that it bought 16 tonnes of gold inJuly as easing financial markets after a turbulent 
June allowed it to push ahead with efforts to 
diversify its massive foreign exchange reserves.
    It put the total value of the purchase, which 
was made on multiple occasions during July and 
boosted its gold holdings to 70.4 tonnes, at 
$810 million, slightly less than $850 million it
spent buying 15 tonnes of gold in November of last year

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Hong Kong's largest bullion vault reflects increased demand for gold in Asia

SINGAPORE: Hong Kong's largest gold-storage facility, which can hold about 22% of the bullion now in Fort Knox in the US, will open in September to meet rising demand from banks and the wealthy, according to owner Malca-Amit Global.
The facility, located on the ground floor of a building within the international airport compound , has capacity for 1,000 tonne, said Joshua Rotbart, general manager for the Hong Kong based company's Malca-Amit Precious Metals unit.