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Malaysia Bullion Trade News

Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day

August 3, 2015
By SRSrocco
In just one day, a big chunk of JP Morgan’s gold was withdrawn from the COMEX. It’s been a while since we have seen such a large single withdrawal. According to the CME Group’s Friday Warehouse Depository gold stocks, a whopping 200,752 ounces of gold were removed from JP Morgan’s Eligible category.
If we look at the table below, we can see JP Morgan’s total gold inventories fell from 1,398,214 oz on Thursday (7/30/2015) to 1,197,462 oz:

Basically, JP Morgan lost nearly 15% of its total gold inventories in one day. You will notice that JP Morgan only has 115,754 oz of gold in its Registered category. This is gold that is ready to be delivered. This 200,752 oz gold withdrawal would have totally wiped out JP Morgan’s Registered gold inventories.
Read More @Original Source

Threat Of Cyber War – “Other Reason To Own Physical Gold” – Rickards

July 31, 2015
By Mark O’Byrne
– “Physical gold is a non-digital asset. You can’t attack it with cyberwarfare” – Rickards
– Greek crisis was necessary step towards fiscal unity in Europe
– “Euro creators want to force common fiscal control – Eurobonds”
– Currency wars between U.S. and China may resume next year
– Rickards emphasises importance of holding physical gold
– Eschews “paper gold” in the form of ETFs, futures or unallocated storage
– Gold insurance against “catastrophic event” … “on the horizon”

Author and monetary expert Jim Rickards says that gold, apart from its qualities as a form of insurance against conventional economic crises, is an essential hedge against cyber warfare.
In an interview with Henry Bonner at, ahead of the Sprott-Stansberry Vancouver Natural Resource Symposium taking place this week, Rickards said this subject would form part of his talk at the conference.
We have frequently covered the risks posed by cyber warfare and cyber terrorism to markets, investments and deposits, and these risks remain, as yet, widely underappreciated in the mainstream media and the wider world.
Read More @Original Source

Gold, the “Pet Rock”

July 31, 2015
By Chris Campbell

“If the Fed maintains its kamikaze tight money mantra in the middle of a deflationary currency war,” Jim Rickards wrote this week in the Daily Reckoning, “then gold and other commodities could go a bit lower.
“My expectation is the Fed will wake up to the damage done and reverse course; possibly even launching QE4 in 2016.
“As this plays out over the next few months, look for commodity and currency markets to hear the message that the Fed will achieve inflation ‘whatever it takes.’
“Once that message sinks in,” says Jim, “gold will once again shine.”
— Gold. Gold. Gold. Everybody forgot about sleep. Now it’s gold.
It rambles on in our thoughts.
Read More @Original Source

What Silver Chart Has The Bankers Worried??

July 29, 2015
By SRSrocco

There is a rising trend in the silver market that has the bankers worried. This may seem like a play on hype, but I can assure you… the facts are clear. If we look at the data in the silver market, there was a distinct change that took place in 2008. Basically, the U.S. Banking system died in 2008 and more investors are finally catching on.
Before I show you the silver chart, let’s look at some of the nonsense taking place in U.S. published financial data. According to the EIA – U.S. Energy Information Agency, supplies of diesel product to the U.S. market peaked in 2007 at 4.27 million barrels per day (mbd) and declined 11% to 3.82 mbd in 2014. These figures represent the average annual amount of diesel supplied to the U.S. Market:
Read More @Original Source

Eric Sprott: “I Haven’t Lost any Conviction” on Gold and Silver

July 22, 2015

I recently spoke with Canadian billionaire Eric Sprott about his views on the Greek debt crisis and investing in gold and silver.
Greece has missed payments to its creditors and has been trying to negotiate down its debts for several months.
The situation is reminiscent of the Detroit bankruptcy, says Eric. It was easy to see it coming – the borrowers plainly stated they would run out of money. In both cases, the borrowers and creditors let the clock run until there was no money left.
Eric says Greece would be better off if it left the Euro and reneged on its debts. More negotiations are likely to draw out the crisis, as Greece simply cannot pay its obligations.
Read More @Original Source

Gold Hammered Down In Sunday Night’s 2-Minute, $2.7 Billion “Unprecedented Attack”

July 22, 2015
By Mark O’Byrne

The post mortem continues and many are once again proclaiming the death of gold … as was done in 1999 and again in 2007 … prior to the start of gold’s multi-year bull market and the resumption of the bull market in 2007.
Sentiment is as bad as we have ever seen it and worse than in 2007, after the price of gold fell nearly 5% or $50 with many markets closed and in illiquid market conditions on Sunday night.
Some $2.7 billion worth of gold futures contracts were sold on the COMEX in less than two minutes.
Read More @Original Source

Why the U.S. is Letting China Accumulate Gold

July 21, 2015
By Jim Rickards

A lot of people think about gold as a percentage of a country’s total reserves. They are surprised to learn that the United States has 70 percent of its reserves in gold. Meanwhile, China only has about 1 percent of its reserves in gold. People look at that and think that’s an imbalance. But those are not very meaningful figures in my view.
The reason is that a country’s reserves are a mixture of gold and hard currencies, and the currencies can be in bonds or other assets. The United States doesn’t need other currencies. We print dollars, so why would we hold euros and yen?
Read More @Original Source


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