GLD trust gold inflow?

Looks like the media is telling us that the GLD trust physical gold holdings are rising and giving a boost to the precious metals prices.I don't believe it until I see it.When I make the chart, I see that we are bottoming out (red chart), but by no means we are really seeing a pick up in GLD trust physical gold holdings yet. We will have to wait for a longer time frame to confirm this uptrend.I need to admit that the red chart is bottoming out though....

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Peter Schiff: Stand-Up Comedian

As I always said, Peter would be a perfect Stand-Up Comedian. And here we have it...

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Gold Lease Rate Higher, Registered COMEX Gold Lower

Just another update.Gold Lease Rates are at an all time high again:Chart 1: Gold Lease RateCOMEX registered gold has once declined to even lower levels. J.P. Morgan unloaded its registered gold. Total registered gold at COMEX now stands at: 875713 troy ounces. We are nearing the bottom.Chart 2: COMEX g...

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The Declining Trade Deficit: Not As Rosy As You Would Think

The trade deficit numbers are out for June 2013 and have been very positive. Due to an oil boom, the trade deficit shrank 22% from around $44 billion in January 2013 to $34 billion in June 2013.As you can see on Chart 1, the decrease in deficit was due to an increase in exports (red chart) and a decrease in imports (blue chart). This looks very promising, but I want to show that not all is well if you look into the details.Chart 1: Import Vs. ExportLet's...

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China Gold Imports from Hong Kong: Steady in June 2013

In June 2013, the gold imports from Hong Kong to China were essentially flat.The summer isn't a good period for gold either, so this is pretty normal. But anyway, gross and net imports are still at an all time high, compared to history (see chart 2).And what's also interesting is that the ratio between net imports and gross imports are at an all time high too: 89%. China wants to keep all its go...

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Tax Receipts Vs. Savings Rate

Whenever the government raises taxes or when corporate profits rise, tax revenue will rise with it (blue chart).But this has implications, if tax revenues rise, this will deplete the personal savings of the people. The red chart shows the personal savings rate (%). There is a negative correlation to be found here.It shows us that higher tax revenues always lead to lower personal savings rates and vice versa. From this correlation we can deduct one...

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Gold Backwardation Explained By James Turk

If you want to know what gold backwardation means, read this article of James Turk. Very interesting.Let's say we have two currencies A (euro) and B (USD). Then the following is true:- A's interest rate < B's interest rate- A is in contango against B- A's value rises going into the future- Higher interest rates means a higher risk of debasement of the currency.Now let's look at two other currencies A (USD) and B (gold):- USD's interest rate < gold's interest rate (lease rate)- USD is in contango against gold (or gold is in backwardation)-...

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