Tag Archives: spain

Inch by inch, our government and private banks are taking steps to limit our ability to use cash. What are the potential implications, and how may that affect you? Find out right here.

As the European Central Bank continues its loose monetary policies, the Swiss are getting nervous. For a nation with such a distinguished and proud history in banking, privacy and respect for gold, it seems like they can no longer idly watch the ECB print money. Now, what they’re considering doing may not only put them back on the path towards fiscal responsibility, but it could have huge implications for the entire gold market. Find out here what they have up their sleeve.

Gold closed down on Friday at $1612.25, indicating a full correction may be in effect. President Obama’s State of the Union Address did very little to change the market realities, resulting in sideways motion for silver, down to $30.18, now walking independent of gold. With the dollar strengthening and Europe indicating that it may have a fix in the works for Greece and Spain, risk-seeking investors who have traditionally favored gold ETFs are looking elsewhere, trying to find big returns in more volatile markets. Ironically, because these folks were so stocked up on paper gold, the net effect on the price was stunning, with the yellow metal recording as much as a 5% decline at one point during the week. The source of all hoopla was two whales dumping their positions in search of action in Europe. George Soros sold 55% of his positions while Louie Moore Bacon relinquished every single gold share in his portfolio. Meanwhile, physical gold holders and those long on the yellow metal will swoop in early this week to score some real deals. With the week in the U.S. potentially off to a slow start due to the President’s Day holiday, this may be just the time to get in; the bulls look poised to take off again.

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