WEEK IN REVIEW: May 19-25

Published by Goldbroker ™ | May 24, 2014 | Press Review

Gold vs Barron's Gold Mining Index (BGMI)
Published May 22, 2014 on Goldbroker by Dan Popescu

One cannot understand gold without understanding its supply side. Although gold production accounts only for 1.64% of existing above-ground gold, it still represents 64% of the gold market supply. Can we predict the price of gold by observing the gold mining index?

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Gold Price Manipulation: Barclays Condemned to a £26m Fine
Published May 23, 2014 on Goldbroker

The Financial Conduct Authority (FCA) condemned Barclays bank this Friday to a 26 million-pound Sterling (32 million euro-) fine for attempting to rig the gold market. The UK financial regulatory authority judges that the bank failed to " adequately manage conflicts of interest between itself and its customers ", since Barclays was selling derivatives on gold as it was part of the price fixing entities.

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Barclays Fined For Manipulating Price Of Gold For A Decade; Sending "Bursts" Of Sell Orders
Published May 23, 2014 on Zerohedge

It was almost inevitable: a week after we wrote " From Rothschild To Koch Industries: Meet The People Who "Fix" The Price Of Gold " and days after " Barclays' Head Of Gold Trading, And Gold "Fixer", Is Leaving The Bank ", earlier today the UK Financial Conduct Authority finally formalized what most in the "tin-foil" hat community had known for years, when it announced that it fined Barclays £26 million for manipulating "the setting of the price of gold in order to avoid paying out on a client order."

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China Signs Non-Dollar Settlement Deal With Russia's Largest Bank
Published May 20, 2014 on Zerohedge

Slowly - but surely - the USD's hegemony is being chipped away whether by foreign policy faux pas, crossed red-lines, or economic fragility. However, on Day 1 of Vladimir Putin's trip to China it is clear that the two nations are as close as ever.

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'World Moving Away From American Financial Hegemony'
Published May 22, 2014 on RT

With the China-Russia deal conducted outside the dollar system we see the beginning of the de-dollarization and de-Americanization of the world, former assistant Secretary of the Treasury Paul Craig Roberts told RT. RT: A number of Western businesspeople have boycotted the St. Petersburg economic forum . Are they going to lose out?

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Down with the Dollar, Petro-Ruble is on the Rise
Published May 21, 2014 on RT

A huge gas deal between Russia and China has finally been signed after a decade of haggling and negotiating. Max Keiser says this means a historic change. "In the Now" with RT's Senior Political correspondent Anissa Naouai is the first dedicated nightly Primetime show to air live out of our Moscow headquarters.

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As Russia Dumps A Record Amount Of US Treasurys, Here Is What It Is Buying
Published May 21, 2014 on Zerohedge

Last week we commented that based on TIC data, while "Belgium's" unprecedented Treasury buying spree continues, one country has been dumping US bonds at an unprecedented rate, and in March alone Russia sold a record $26 billion, or 20% of its holdings. So as Russia is selling record amount of US paper, what is it buying?

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The Gold Rush In India Begins: Expect A Big Move In The Price Of Gold
Published May 22, 2014 on Seekingalpha

Summary India's Central Bank Modified Some Import Rules Yesterday (May 21). Ex-duty import premiums are declining, which historically signals significant import duty changes. Normalized gold import flow into India will cause a big move higher in the price of gold.

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Gold Market Rigging is Ever More Documented and Ever More Suppressed by the News Media
Published May 23, 2014 on Gata

"The bank transacts foreign exchange and gold on behalf of its customers, thereby providing access to a large liquidity base in the context of, for example, regular rebalancing of reserve portfolios or major changes in reserve currency allocations.

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Gold Benefits with an Uncertain Dollar
Published May 23, 2014 on Ronpaulchannel

In this edition of Ron's Gold Update, Ron discusses how gold can combat the dollar hegemony and the astounding purchase of U.S. Treasury bonds by Belgium.

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Growth Slowing Everywhere : Another Crisis Looming?
Published May 22, 2014 on Goldbroker by Philippe Herlin

Even though the indicators for growth in large industrialised countries are just quarterly ones and could be nullified by the next quarterly statistics, they still are quite worrisome.

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Gold Agreement Between the SNB and Other Central Banks Extended
Published May 19, 2014 on Snb

The Swiss National Bank (SNB), the European Central Bank (ECB), the central banks of the euro area (Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, Spain) as well as the Swedish Riksbank today announce the fourth gold agreement between central banks.

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Marc Faber: I Will Never Sell My Gold: Video
Published May 22, 2014 on Bloomberg

Marc Faber, managing director and founder of Marc Faber Ltd., and Ian Bremmer, president of Eurasia Group, discuss the state of the Chinese economy and the outlook for the U.S. stock market with Trish Regan on Bloomberg Television's "Street Smart."

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