Time to Return to Silver Wheaton Corp.

January 29, 2015 at 11:14


Average investors typically hop on board a stock that is doing amazing with the mentality that it can never go down. And then it usually does, costing those investors a lot of money. Silver Wheaton could be an exception to that rule right now. Silver Wheaton doesn’t actually run its own mines. Instead, it works with new mines that need upfront cash. Silver Wheaton writes a check to those mines in exchange for a future amount of gold and silver. These mines are typically for other metals, such as copper, so they don’t mind selling the gold and silver at really discounted prices. It reduces risk for the mine since someone else is financing the operation and it increases ...

Peter Schiff: QE 4 will take gold to new highs

January 29, 2015 at 11:06


Gold has had a solid January - up close to 10% as measured by the SPDR Gold Shares ETF. It’s not unlikely territory for the yellow metal. 2014 started out in much the same way, up more than six percent that month before closing the year a few percentage points lower than where it began. Peter Schiff thinks while the start of 2015 is similar, the end will be quite different. “All the Wall Street strategists are all bearish on gold. They’re bearish on gold stocks and I think instead of giving up the early rallies that happened last year, I think we’re gonna build on the gains throughout the year.” He notes that the price of gold in just about every currency but the dolla...

Gold to find floor in 2015 before building

January 28, 2015 at 10:24


Gold faces a third year of losses in 2015 as the United States prepares for its first interest rate rise in nearly a decade, but the market should also find a floor, clearing the way for a recovery next year, a recent poll has shown. The survey of 38 analysts and traders conducted earlier this month forecast that spot gold, which ended 2014 little changed after snapping a 12-year bull run the previous year, will average $1,234 an ounce this year, down around 3 percent. The market is then seen recovering to $1,278 an ounce in 2016, putting the trauma of 2013's spectacular crash behind it, the poll showed. The metal is expected to come under pressure this year from...

Russia cant stop buying gold

January 28, 2015 at 10:18


Russia increased its gold holdings for a ninth month, International Monetary Fund data show. Russia, with the fifth-biggest hoard, held 38.8 million ounces last month, the most in at least two decades, data on the IMF’s website showed. Central banks globally are adding gold to reserves after reducing holdings for about two decades from the late 1980s as they seek to diversify assets, according to Oversea-Chinese Banking Corp. Worldwide purchases would probably be 400 tons to 500 tons in 2014, the World Gold Council said in November. Gold rose for the first time in four months in December as signs of slowing economic growth spurred haven demand.  “Central-bank purch...

Goldman Boosts 2015 Gold Price Outlook

January 27, 2015 at 10:13


Goldman Sachs Group Inc. (NYSE:GS) raised its gold price outlook by $62. It now expects the yellow metal to average $1,262 per ounce in 2015. As quoted in the market news: The bank expected gold prices to rise in the near term citing recent factors, including weaker-than-expected US economic data, the run-up to an announcement on the quantitative easing measures by the European CentralBank and the unexpected decision by the Swiss National Bank to remove its cap on the Swiss franc against the euro. However, the bank saw lower gold prices in the longer term, mainly due to expectations of lower inflation, lower energy prices having a deflationary effect on gold’s mini...

German regulator gold is not manipulated

January 27, 2015 at 10:11


Germany’s financial regulator BaFin has found no evidence to support allegations of manipulation in the gold market or that currency exchange rates were systematically rigged, according to its head of banking supervision. Raimund Roeseler also said the watchdog is close to concluding a probe into alleged attempts to rig the London Interbank Offered Rate, a benchmark for borrowing costs. He didn’t comment on the results of that investigation. The probe into currency markets is still under way, he said. Roeseler spoke to Handelsblatt newspaper in an interview published in Frankfurt Monday. Oliver Struck, a spokesman for BaFin, confirmed the comments in an e-mail to Bl...

Winklevoss brothers want gold investors for Bitcoin ETF

January 26, 2015 at 18:54


If you have gold in your portfolio, you should consider investing in bitcoin, Cameron and Tyler Winklevoss said Monday. The twin brothers are working to launch an ETF that provides exposure to the volatile virtual currency. “If you look at the GLD gold ETF, basically that’s our model,” Tyler Winklevoss said. The SPDR Gold Trust is one of the world’s largest exchange-traded funds. The twins went even further in praising bitcoin, saying it’s an improvement on gold. They said its advantages include being more durable and more portable, plus the brothers emphasized that a fixed supply of bitcoin is built into the rules for the digital currency. The comments came a...