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Malaysia Bullion Trade News

Indian Gold Imports Exploding In March

March 24, 2015
By Koos Jansen
March has not even ended, though preliminary data indicates India has already imported over 130 tonnes of gold this month. A conservative estimate suggests total gross import can reach 150 tonnes of gold this month.
Because of a “current account deficit” the Indian government decided in March 2012 to raise to import duty on gold from 2 % to 4 %, in June 2013 from 4 % to 8% and in August 2013 from 8 % to 10 %. Additionally, in August 2013 the 80/20 rule was implemented, which was eventually withdrawn in December 2014.
The restrictions the Indian Government implemented on gold trade spawned new life to smuggling cartels with all due consequences. Official Import fell drastically, wiping out any revenues the government collected from the import of the yellow metal. In May 2013 Indian gross gold import accounted for 168 tonnes, by September 2013 a multi year low was reached at 15 tonnes. Premiums in India, over London spot prices, skyrocketed to a staggering 25 %.

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Silver Poised to Surge

March 22, 2015
By Adam Hamilton

Silver is scraping major support again, after a rough couple months where speculators left it for dead. But today’s brutal lows and extreme universal bearishness are the perfect breeding ground for silver’s next big rally. Investors are very underexposed, while speculators have big short positions that will have to be covered. So as gold reverses decisively and paves the way, capital is going to flood back into silver.
Silver’s great allure today when it is down and out is hard for most to understand. That’s because most traders mistakenly make linear assumptions in a nonlinear world. They expect today’s market conditions to persist indefinitely. But that’s not the way markets work, they are forever cyclical. The best times to buy low before later selling high are when assets are universally despised and trading at super-low prices.
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Russian Ruble Soon To Be Backed By Gold?

March 22, 2015

Russia is struggling with a number of liabilities these days. The price for oil, Russia’s most important export good, has reached historical lows. During the previous weeks the Ruble could only recover slightly from its devastating slump against the Dollar, that has been lasting for a year now.
Compared to February last year, the Russian currency now has about 40% less purchase power than the Greenback. Russia and USA are in the middle of a currency war that threatens to become an armed conflict. Not even during the cold war has the „diplomatic“ talk between USA and Russia been that harsh.
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Is The Dollar Going To Crash While Gold Is Driven Higher By Speculators?

March 22, 2015
By Dave Kranzler
There’s an increasing number of professional money managers who think it will be gold which has been trading more like a currency than a commodity recently. If the dollar is no longer king then gold looks like a worthy successor. – (LINK)
Several analysts, including myself, have pointed out that recently gold has been moving in correlation with the dollar rather than inversely. While many are not aware of this, the two huge moves higher made by gold during this long term bull market occurred after gold traded for a couple months in correlation with the dollar.
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The “New” LBMA Gold Fix Is Just As Rigged As The Old One

March 22, 2015
As my undergrad English major advisor used to say: “This is old wine in a new bottle.” Meaning, you can dress up a pig but underneath the fancy clothes it’s still a pig. The “new” London gold fix will enable the big bullion banks to continue rigging the paper gold market and looting investor money. They are now emboldened to do it in broad daylight and without masks.
This applies wholeheartedly to the “new” LBMA fix. Given that the reporting of the GOFO rates has been eliminated and the “new” price data has fancy lipstick but is even less informative than the LBMA’s old data reporting, the “new” London gold price fix is at least – if not more – corrupted than the old fix.
As I expected, the “new” LBMA gold fix will even more opaque than the previous process, despite the appearance of more transparency. Four banks have already been named: Scotia, HSBC, SocGen and Barclays. Seen those names before? Here’s a brief update: LINK.
Read More @Original Source

Invest in Food

March 19, 2015
By Jeff Nielson
At first glance, the title to this commentary seems facile, especially to those readers in higher income brackets. The reality, however, is that “investing in food” is a risk-free means of generating an annual return on one’s investment that would likely exceed the return one could earn on almost any other investment – despite the fact that nearly all other asset classes carry significant risks.
Indeed, with many asset classes currently at extreme “bubble” levels in their valuations (notably stocks, bonds, and real estate), the term “risk” is gross understatement. Putting any new money into any such assets (or simply keeping one’s wealth exposed to these sectors) is nothing less than financial suicide. In comparison to financial suicide; the opportunity for a risk-free return on one’s investing today obviously merits further scrutiny.
It is in this environment of extreme financial risk and perpetually spiraling food prices where we consider the proposition of food as an investment asset class.
Read More @Original Source

A key part of the gold market will see a major shift Friday

March 19, 2015
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) — On Friday, for the first time in close to a century, the gold market price fix is about to change. It is a move that could potentially provide a better view of China’s insatiable demand for the precious metal.
The London Bullion Market Association said the LBMA Gold Price will launch on Friday, with the ICE Benchmark Administration operating the auction process. That will replace the so-called London Gold Fix, a widely-used pricing medium that has been around since 1919 and is administered by London Gold Market Fixing Ltd. twice daily.
“The changes taking place with the new gold fix could be a game changer for gold trading as we know it,” said Kevin Kerr, president of Kerr Trading International.

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