Gold, Silver Rebound to End Down Week

Gold and silver futures bounced back for a gain of 0.9% & 1.8% respectively Friday on what was seen as a combination of bargain hunting, short covering and stalled budget talks.? Gold was also said to have benefited from news that Brazil boosted its gold reserves for a third straight month, to the highest level in 12 years. Bloomberg quotes a Commerzbank analyst noting that ?central banks in emerging economies have been continuing their policy of diversifying their currency reserves.? This trend is likely to continue next year, meaning that central banks will play a considerable part in the price increase we envisage in 2013.?

News & Views

Gold Scents/MoneyWeek:? Stock market breather and gold yearly cycle low; Gold?s woes won?t last ? we?re heading back to $1,800

BullionVault/Gold & Silver Blog:? Gold bullion headed for 4th weekly loss, But ?China and India demand jumps? after price fall;? Gold demand in Asia remains insatiable

Reuters:? Iraq adds to gold reserve, 1st time in years; Tiny gold bars latest rage for jittery investors in Switzerland, Austria and Germany

The Daily Gold/P. Radomski:? Precious metals decouple from stock market; A look on gold from the non-USD perspective

MarketWatch/Silver Investing News:? Gold, silver and oil markets hope for better year; Silver slides into holiday season, but upswing expected in new year

KWN/SilverSeek:? Andrew Maguire ? Shocking $2.89 premium for physical silver In China; QE3 silver impact

Jim Sinclair/Mineweb:? A move of desperation by the Fed; Sinclair incandescent ? biggest manipulative play in gold ever

Zero Hedge:? In 2013 the Fed will conjure enough paper money to buy 11% of all existing gold

Mises.org/Reuters:? Bernanke loosens up; Central bankers rethink their devotion to slaying inflation

Street Talk Live/Investment Watch:? Why reported inflation seems different than reality; 75 economic numbers from 2012 that are almost too crazy to believe

Bloomberg:? Joshua Green:? Fiscal cliff chaos is good news; Obama meeting Boehner reveals strangers without trust

Financial Times/Reuters:? U.S. alarm at foreign acquisitions

KWN:? The new terrifying world of modern day pirates

This entry was posted on Friday, December 21st, 2012 at 11:46 pm and is filed under China, Federal Reserve, General Economy, Gold, India, Monetary Policy, Quants, Short Sellers, Silver, U.S. Congress, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Source: http://silverandgoldcoinblog.com/2012/12/21/gold-silver-rebound-to-end-down-week/

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