Thursday, January 31, 2013

Young Japanese Buying Gold Bars Becoming Popular Trend

Here is one article reporting that there has been growing number of young Japanese who are selling old gold jewelry to buy gold bars, apparently a growing popular trend now in Japan.

"With the yen continuing to spiral downwards, gold is becoming a quick favorite in terms of investment options with gold prices in Japan hitting a 32 year high. That’s despite international gold prices going in the opposite direction trending lower since the beginning of this year.

With the Japanese currency weakening by 14 percent against the US dollar since last September, gold prices in Japan have soared over nearly 20 percent from the average level in December until now, alone bucking the trend seen in the global bullion market..."

Sunday, January 27, 2013

Chinese Citizens Are Now Buying Silver

Chinese citizens are “now buying silver because gold topped out in 2011 and silver is much more affordable,” said Thomas, a silver bull who has recently tripled his exposure to the white metal.

Silver is undervalued next to gold, has a finite and rapidly decreasing supply and it’s more accessible in greater quantities than gold, she said. All of these factors are “falling into place and becoming more acute, which therefore has driven up silver investment demand.” ...

“The increased demand for silver coins, as well as record holdings in silver-backed [exchanged-traded products], indicate that increasing numbers of people are looking to protect themselves with wealth-preserving assets,” said Skoyles.

Holdings in silver global ETPs stood at more than 600 million ounces as of Jan. 18, compared with just over 300 million in late 2008, according to data from ETF Securities.

HSBC Buy $876 Million Worth of Silver Bars

HSBC has quietly moved into acquiring large amounts of silver bullion. The bank has secured another deal to buy silver bars from KGHM which brings their total purchases of silver from KGHM alone in the last 12 months to $876 million or PLN 3.65 billion. KGHM is one of the largest producers of silver in the world and is the second-largest producer of refined silver in the world.
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KGHM is one of the largest companies in Poland and one of the largest mining & metallurgy companies in the world. The main customers of Polish silver in recent years have been the United Kingdom, Germany and Belgium. HSBC appears to be one of their main customers now.

Respected and erudite, James Steel, the chief commodity analyst at HSBC Securities (USA) Inc. continues to be bullish on silver and recently said how “silver tends to track gold, except it over performs in a bull market” and how he was “moderately bullish on silver” in 2013.

Thursday, January 24, 2013

Coming Financial Collapse of America

Watch this video which was film in the early 2000s.  You will realise how similar the situation was then and is now getting worse.  Many has been warning about the uncontrollable deficit spending of the US government.  But unfortunately their warnings were ignored.   

Wednesday, January 23, 2013

Indian Gold Purchases Climbed in January

Gold remained firm although still trading below 1700. Statistics showed that physical demand for the yellow metal surprisingly soared in January. Normally, gold purchases soar in November on festive buying. The exceptional January spike should be driven by Indian consumers who increase purchases ahead of the tariff hike. Gold price is likely to rise further as central banks remain on accommodative modes with the BOJ accelerating its QE measures in January...

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Jim Rickards on German Repatriation of Gold

Germany made a surprise announcement last week that the Bundesbank would begin repatriating gold reserves held overseas. The central bank said it wanted to keep more than 50% of its gold reserves at home. On the other hand, China is accumulating and increasing its gold reserved. What will that mean for the price of gold? Jim Rickards is bullish on gold short term and says gold prices will rise the most in currencies that are weakening the most.