Gold Holdings

China Gold Demand Soars

China Gold Demand Soars

The Chinese saw the writing on the wall over a decade ago. They realized the ultimate fate of the U.S. dollar and the fiat currency system. So in 2003, the government of China began an aggressive campaign to secure resources of gold. They began by increasing the country’s gold reserves. Since that time, the People’s Bank of China has added 21.2 million ounces to the country’s gold holdings. China now has the fifth largest national gold reserve, with over 1,054 tonnes in reserves. While boosting reserves, the Chinese government also began to deregulate the gold mining industry and invite foreign investment for the development of domestic resources. The measures were a runaway success; China is now the world’s largest gold producer with output increasing 70% in the past decade. Chinese government even began encouraging its 1.3 billion citizens to own gold. And today, the country has become the second-largest consumer of gold in the world. The government’s efforts to stimulate and expand the domestic gold market has been highly successful. Chinese citizens have embraced gold as true wealth in all economic seasons. And now new concerns over the future of the U.S. dollar and domestic inflation has prompted the Chinese to recently begin acquiring gold on a epic scale. China’s gold imports to jump 457% this year The Shanghai Gold Exchange recently revealed China’s gold imports jumped almost fivefold in the first 10 months of this year. And even though China is the world’s #1 producer, the country is expected to import 9.2 million ounces of gold this year as inflation concerns lifts investment demand. Consumer prices in China rose 4.4% in October— the fastest pace in two years — and above the government’s full-year target of 3.0%. The People’s Bank…

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More Reasons Gold Is Going to $2,000

More Reasons Gold Is Going to $2,000

The biggest holder of U.S. Treasuries isn’t happy. And why should they be? They’re sitting on the sidelines holding US treasuries worth $797 billion. That’s quite a chunk of change. Of course I’m talking about China. The Chinese have been the biggest foreign creditor to the United States and in recent statements they’ve made it clear that Washington needs to maintain the value of the dollar. “We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I’m a little bit worried,” said Chinese Premier Wen Jiabao. It’s estimated that around 50% of China’s total reserves are held in US treasuries. And they know that the reserve currency they hold is depreciated with each passing day. With so much riding on the price of the dollar you can bet that Beijing has been keep a close tally on America’s spending — and the results can’t be pleasing. To say the least, Chinese faith in the dollar is feigning. And I’ll give you one guess as to where they are going to spend their $797 billion nest egg… Gold! Right now China is 6th on the list of world gold holdings with around 1,000 tonnes of gold reserves. Not bad right? Wrong. When you look closer at the statistics you can see that China has a mere 1.9% of its total reserve holdings in gold. Compare that to the U.S. with 77% and you’ll start to see China’s future motivation. China is in the market for a reserve currency that’s stable. And when it comes to stability nothing glitters like gold. Need proof? Look no further than another developing world powerhouse… India. Recently India made a bold move to start protecting itself from the U.S. dollar and fiat currencies in general… News broke that India made a huge gold purchase from the IMF — somewhere in the neighborhood of 200 tonnes. Previously, the government of India held 350 tonnes of gold reserves. This 200 tonne purchase is a 57% increase …

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JPMorgan (NYSE:JPM) Opens Gold Storage Facility in Singapore

JPMorgan (NYSE:JPM) has now opened its gold storage facility in Singapore, which will also store other metals as well. Tim Wilson, JPMorgan’s head of Asia marketing of global commodities said, “We’ve seen increasing appetite from investors and clients to diversify the location of their gold holdings and our vault facility provides an alternative site to places such as London, New York and Zurich

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Gold, Global Fracking, and Frontier Markets

Filed in Debt, euro, Gold, Gold Holdings, Gold Market, Gold Prices, recession, sov by on September 2, 2010 0 Comments
Gold, Global Fracking, and Frontier Markets

It’s time to stop the whining on housing, jobs, and banks. If you don’t like the current state of affairs in Washington and the politicians’ cozy relationship with Wall Street — then vote the bums out. If you don’t like the way the fiscal picture has shaped up — then stop believing the banksters and find a better place to invest. One of the great wonders of capitalism is that when one person, group, or company is mired in foolishness and fraud, there is always some up-and-comer waiting in the wings to take them off their high horse. In other words, there’s always a bull market somewhere. Here are three profitable trends to invest in today. Advertisement How to Get Your FREE “Options for Dummies” Guide Think trading options was just for the most seasoned investors? Think again. Options guru Ian Cooper has put together a free report showing YOU how to easily profit from one of the most lucrative investment strategies out there. Click here now to access your free guide and start making money today. Three Bullish Trends: Gold, Global Fracking, and Frontier Markets Gold is about to break out… That, my friend, is called an ascending triangle. The fears of a prolonged recession, disgust with the Wall Street shills, and continued monetary easing have investors buying gold to protect their wealth. If we break above the level set in June, we are off to the races. The rule of thumb in breakout patterns is that they go up as far as they went sideways. That would put the price chart around $1,500 per ounce. Gold hit $1,254.73 yesterday— but the crucial turning point is the June 21st level of $1265.30 which was its all-time high. Bloomberg reported that gold holdings in 10 exchange-traded products advanced to a record yesterday. “In the second quarter, investors purchased 291.3 metric tons in exchange-traded funds, boosting demand by 36 percent.” That could be the energy needed to break through to a new high. If you look at the ten-year chart, you’ll notice that gold rises in a stair-step pattern; it consolidates, then launches. New highs are always bullish and breakouts are a buy. The magic number is $1,265. Global fracking According to the Energy Information Administration, there are 1,744 trillion cubic feet of technically recoverable natural gas in the U.S.— enough to supply the country for 90 years at current rates of production. Fracking involves pumping water or sand into the ground, breaking up the rock, and recovering the natural gas. Right now the threat to ground water has some environmentalists up in arms, but it hasn’t stopped the growth in exploration and development around the world… The fact is that there is a lot of natural gas— and it’s a viable replacement for coal for use in electricity generation. It is cheap, plentiful, and the cleanest burning of all hydrocarbon-based fuels. Europe is particularly eager to gain new natural gas sources as they have been held captive to Russia’s supply …

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JPMorgan (NYSE:JPM) Adding Gold Miners to Portfolio

JPMorgan’s (NYSE:JPM) Ian Henderson, who manages the $2.3 billion Global Natural Resources fund and the $2.9 billion U.K. Natural Resources, among others, has been increasing the funds’ gold holdings, saying the gold market is at its best levels since the 1970s. Gold mining companies are his primary focus, and he’s added gold mining giants Barrick Gold (NYSE:ABX) (TSE:ABX) and Newmont (NYSE:NEM)

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John Paulson’s Gold Investments Mixed in 2010

Kinross Gold (NYSE:KGC), SPDR Gold Trust (NYSE:GLD) and Anglogold Ashanti (NYSE:AU) are all part of the massive gold holdings of hedge fund manager John Paulson, and so far in 2010 they haven’t done a lot to increase the value of the fund, although Anglogold and the SPDR Gold Trust have helped some over the last six months, at least generating gains during that time. Although that is the case so

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Mothers Day Message Give Mom Flowers and a Promise! Make A Promise. Keep Your Word. Change Your Life.

Filed in Gold Holdings by on May 7, 2010 0 Comments

Matthew Cossolotto, creator of Make A Promise Day and author of The Real F Word , urges people to give mom flowers and a promise this Mother’s Day. Cossolotto, former aide to US House Speaker Jim Wright and Congressman Leon Panetta, made a promis Mothers Day Message Give Mom Flowers and a Promise! Make A Promise. Keep Your Word. Change Your Life.

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Massey Energy expands Virginia and Kentucky operations; to employ 110 workers

Filed in Gold Holdings by on May 7, 2010 0 Comments

May 7 – Massey Energy Co: * Expands Virginia and kentucky operations * Metallurgical quality coal operations contain about 750,000 tons of coal and expected to employ about 110 workers massey energy co Massey Energy expands Virginia and Kentucky operations; to employ 110 workers

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Goldman CEO Blankfein on SEC

Filed in ceo, Gold, Gold Holdings, Gold Investing by on May 7, 2010 0 Comments

CNBC’s David Faber has the highlights on what Lloyd Blankfein said in response to SEC charges. Goldman CEO Blankfein on SEC

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Get Ready for the Worlds Biggest IPO

Filed in Gold Holdings by on May 7, 2010 0 Comments

The World Expo that kicked off in Shanghai on May 1 is the kind of spectacle Beijing officialdom loves, a grand showcase for China’s economic ascendancy. Another fanfare event, this time in the realm of global finance, is the initial public offering Get Ready for the Worlds Biggest IPO

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Thieves use golf cart to steal copper, tools from Rock Hill Industries

Filed in copper, Gold Holdings, Gold Investing by on May 7, 2010 0 Comments

Someone stole 300 pounds of copper wire and tools from Rock Hill Industries, and they used the busin Thieves use golf cart to steal copper, tools from Rock Hill Industries

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US SWAPS-2Y spread widest in 9 months in Treasury rally

Filed in Gold Holdings, safe-haven by on May 7, 2010 0 Comments

NEW YORK, May 7 – The spread on U.S. two-year interest rate swaps grew to its widest in about nine months, as a safe-haven rally in the Treasury market widened the cost between fixed-rate and floating-rate payments. The two-year interest rate swap US SWAPS-2Y spread widest in 9 months in Treasury rally

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