Archive for February, 2014

Think outside of the square.

February 24th, 2014 No comments


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If you have been waiting to buy your first physical #gold, now is a good time to start!

February 20th, 2014 No comments

Australian Bullion Company


Gold prices soar despite bearish bank reports – Levenstein

Gold prices surged last week smashing through several key resistance levels including the psychologically important $1300 an ounce level.

Gold prices continued to advance last Friday for an eighth session in a row, gaining almost 5% for the week, fuelled by a combination of increased physical demand, technical buying and economic jitters. And, on Monday, the price of spot gold hit $1329.70 per ounce, a 3-1/2 month high.

Market sentiment towards gold has been positive since the beginning of the year as weak U.S. economic data, and emerging market jitters have taken a toll on global equities, spurring demand for bullion – often seen at times of uncertainty as a safe haven.

Gold is up 10% this year after a 28% drop in 2013, while silver has gained more than 12%.

The price of the yellow metal has broken well above its 50 day moving average, has traded above the 100 day moving average and has also closed above the 200 day moving average as well as the key resistance of $1,300/oz. These positive signs suggest that the upside could continue.

The price of gold began last week on a firmer note and then after vacillating for most of the day on Tuesday, prices rallied after Federal Reserve Chair Janet Yellen pledged to continue to maintain the monetary policies set by her predecessor Ben Bernanke.

Despite calls for lower prices from practically every major bank, the price of the yellow metal is now up by around 10% from the beginning of the year. Gold has now broken above the $1300 for the first time since November last year. This is an important turning point for the yellow metal, and I urge you to consider adding to your portfolio.

If you have been waiting to buy your first physical gold, now is a good time to start, as I believe the bull market is making a comeback. If you already own gold, but have been waiting for the right time to add to your position, now is the time.

Do not wait any longer. Add physical gold to your investment portfolios.

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Rick Rule to gold investors: You suffered the pain, so why not hang around for the gain?

February 20th, 2014 No comments


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Peter Schiff: Gold Update, The Dollar Will Collapse First, Janet Yellen Wants More Inflation & More

February 17th, 2014 No comments

Peter Schiff, the CEO of Euro Pacific Precious Metals, says, “The messes get progressively bigger because the bubbles get progressively bigger. We have the biggest bubble ever blown right now because we have a simultaneous bubble in the stock market and the real estate market and the bond market. . . . The air is coming out of all of them. The Fed knows this bubble is too big to pop. That’s why the Fed is going to come back with an even bigger round of QE (money printing) than the last round. We’re going to be hit with a tsunami of inflation. . . . I think we’re going to be stuck with a lot of the money, which means it will bid up consumer prices right here in America. New Fed Chief Janet Yellen said she wants more inflation. Well, she’s going to get it.”

Schiff thinks the U. S. Dollar will be in trouble first and not Treasury Bonds. Why? Schiff says, “The dollar will go poof first. Remember, the Federal Reserve can buy up all those bonds to stop the prices from collapsing, but in order to do so, it has to print dollars. But, eventually, the dollar collapses because the world figures out the game. The Fed can print all the dollars they want, but they can’t force people to accept them. That is going to be the problem.” (There is much more in the video interview.)

Join Greg Hunter as he goes One-on-One with money manager Peter Schiff.

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Unemployment rate worst in 10 years

February 17th, 2014 No comments



The jobless rate has shot up to 6 per cent, its highest level in more than a decade, as 3700 jobs were removed from the economy, official figures show.

There were 7100 full-time positions lost and 3400 part-time jobs added, the Bureau of Statistics data for January showed.

The participation rate, the percentage of people either in work or looking for work, remained stable at 64.5 per cent. December’s participation rate was revised down to 64.5 per cent from 64.6 per cent.

“There’s no spinning it, Australia’s labour market is weak,” Moody’s Analytics associate economist Katrina Ell said.

“Businesses are not confident in future economic conditions so are trimming jobs and working their existing staff harder.”

Analysts had expected the unemployment rate to edge up to 5.9 per cent, with 15,000 jobs added to the economy.

The further losses in full-time jobs for both men and women suggested broader weakness in the labour market beyond the mining and resources-related sectors, ANZ’s head of Australian economics Justin Fabo said.

The unemployment rate, which edged up last year, is expected to rise further above 6 per cent in 2014 as the economy adjusts to lower investment from mining companies.

“I guess what we’ve got to remember is jobs growth is a lagging indicator of economic activity,” St George’s chief economist Besa Deda said.

The Reserve Bank has repeatedly noted in its statements that it has been expecting the jobless rate to push higher as the mining boom peaks and the economy turns to other sectors to drive growth.

In its Statement of Monetary Policy released on Friday, it said that “with growth of economic activity expected to remain below trend for a few more quarters at least, it is likely that employment growth will be only moderate over the coming year and the unemployment rate will continue to edge higher”.

The latest labour market numbers came as a monthly survey by Westpac and the Melbourne Institute found consumer confidence slipped for the third straight month in February, as Australians fretted over the weak jobs outlook.

Unemployment rate worst in 10 years

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