Mark O'Byrne's Contributions

Gold Down 28% in 2013 Despite "Skyrocketing Demand"

Gold fell 28% in 2013, while silver recorded a 36% decline. It was gold’s first annual drop since 2000 and gold and silver’s worst performance since 1981 and 1984 respectively.

COMEX Halts Gold Trading Twice In One Day After $200 Million Sell Trades

Gold was trading near four month lows today after its biggest drop in seven weeks yesterday. Another bout of peculiar concentrated selling led to Comex halting trading in December gold futures twice yesterday, the fourth time in less than 3 months.

Ron Paul: “6,000 Years of History, Gold Is Always Money, Paper Money Fails”

Ron Paul spoke with Bloomberg television and said that we are in a currency war and we have been for decades. He noted that governments have always competed against each other’s currencies even under Bretton Woods.

Gold Sentiment Poor Due to Range Bound Trade and Banks Bearish Predictions

Gold is little changed today in pound, euro and dollar terms after the Bank of England and the ECB kept interest rates at record low levels. Ultra loose monetary policies continue.

China’s Gold Imports from Hong Kong Double in 2012

Gold imports into mainland China from Hong Kong almost doubled to new high in 2012 as Chinese people continue to play catch up in terms of gold ownership. The Chinese were forbidden from owning gold for over 50 years.

Gold Backed Bonds - An Alternative To European Austerity?

The World Gold Council has been exploring ways that Eurozone member states could use their gold reserves to help bring down the cost of borrowing.

Faber to Shiller: “You Keep Your U.S. Dollars and I’ll Keep My Gold”

In response to a question from Yale University’s Robert Shiller querying the recommendation to hold gold, Faber said: “I’m prepared to make a bet, you keep your U.S. dollars and I’ll keep my gold, we’ll see which one goes to zero first.”

Bundesbank Repatriates Gold

Shows Importance of Possession or Allocated Storage

Germany’s central bank will repatriate part of its $200 billion gold reserves stored in vaults in the Federal Reserve in New York and the Banque de France in Paris. It is believed that the Bundesbank may have repatriated the gold in order to be prepared for a systemic crisis and currency crises.

The Queen of England Asks Economists – ‘Why Did Nobody Notice?’

Queen Elizabeth II and Prince Phillip visited the Bank of England’s gold vault and wonders like most people how the things got so bad.

Obama Likely to Approve Gold Sanctions on Iran

The Currency Wars Escalate

The U.S. Senate voted 94-0 on Nov. 30 to approve new sanctions against Iran, closing gaps from previous measures, including trade in precious metals. Obama, who opposes the move on the grounds it may undercut existing efforts to rein in the nation’s nuclear ambitions, signed an executive order in July restricting gold payments to Iranian state institutions.

New U.S. Sanctions to End “Turkey's Game of Gold for Natural Gas”

Last week Turkish Deputy Prime Minister Ali Babacan has revealed a critical detail about a widely discussed Turkey-Iran gold trade boom, disclosing that the Islamic republic was exporting gas to Turkey in exchange for payment in gold bullion.

CME Declares Force Majeure Due to “Operational Limitations” on NYC Gold Depository

CME Group declared a force majeure at one of its New York precious metals depositories yesterday, run by bullion dealer and major coin dealer Manfra, Tordella and Brooks (MTB), due to “operational limitations” posed by Hurricane Sandy.

Gold Volatility Declines to Record Low on Bullish Sentiment

Gold inched lower on Wednesday despite Greece's lenders being unable to agree on a debt deal, but support for bullion remains due to the very uncertain economic backdrop and global central bank’s loose monetary policy stance.

LBMA: Chairman Says Chinese Gold Allocation to Rise

The Chairman and President of the Shanghai Gold Exchange told the LBMA gathering that the Shanghai Gold Exchange will launch an interbank market early next month that will initially begin with spot contracts and will gradually offer forward contracts.

Obama Victory: Increased Gold and Silver Storage in Zurich and Asian Capitals

Gold rose for a third day yesterday after confirmation that President Barack Obama won re- election, while stock markets fell sharply and treasuries headed for the biggest advance in 11 weeks.

Silver Demand In China For Wealth Protection to Climb to Record 7,700 Tons

After the US Fed’s QE1, (December 2008-March 2010) silver rocketed 53%, almost twice the jump as gold, and for QE2, (ending June 2011) silver rose 24%. Morgan Stanley predicts that silver will again return more than gold after QE3 was announced this September.

Draghi to Enter the Lion’s Den

Germany’s legislative backing is critical for Draghi’s plan to buy up Spanish and other eurozone area government bonds.

What Is the Actual Book Value of Germany’s Gold Reserves

The Bundesbank won't let German parliament members inspect the German gold vaulted abroad because the central bank vaulting facilities supposedly lack "visiting rooms."

IMF’s Paper on The Chicago Plan Continues to Stir Opinions

Gold edged down on Monday, as pressure from speculators exiting long positions and continued concern about the health of the global economy dampened interest.

EU Leaders Agree on Bank Supervisor

The EU must now agree on the structure that makes the ECB (European Central Bank) the main supervisor by January 1st. This new system was created to break the link between banks and governments at the root of the zone’s financial crisis and will roll out in the next year and expect to cover all 6,000 eurozone banks by January 2014.

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