Here are some updates that have value with gold and the direction it will take. It has been a very uncertain expedition for this asset during the last few months. Gold could be heading higher from here, according to one of Wall Street’s top technical analysts.
There are many unexplained trends, on why gold has had such a rough ride. Some experts in this field have indicated that there is more going on than we actually will ever understand. Governments have always wanted a fiat currency, for the simple reason they can print more money. With Gold it is impossible to reproduce, could this be a key factor?
Then take China's activity, for the last three years of accumulating gold at an alarming rate. They fully understand that gold is currently a bargain. No one really knows how much gold China has, but we will find out really soon.
Lawrence Lewitinn: Gold looks scary good: Bank of America Merrill Lynch
Platinum is considered the most precious of the precious metals because of its scarcity. The annual supply of platinum is only about 130 tons; approximately 10 tons of ore must be mined to produce one ounce of “white gold;” all the platinum ever mined would fill a space of less than 25 cubic feet; relative to value-minded, platinum has much more industrial use than either silver or gold; there are no large of above-ground platinum.
Vronsky; Platinum: the Rich Man’s Gold
In 1971, the world’s gold-backed monetary system was replaced a paper system managed by people with Ph.D.'s. Rather than being stuck with fixed quantity of money, academics could instead figure out how much money and credit was the need and provide them as necessary.
Bill Bonner: A Tsunami of Debt
Bottom line: People continue to move money from short-term low-interest bearing assets into currency and transaction balances. The increase in the money stock measures comes from portfolio re-arrangement, and not from monetary stimulus
Therefore, the US economy does not seem to be benefiting from QE, although the Fed says it will continue until the economy shows signs of a faster recovery.
Last April, fifteen days after the heads of the five largest US Banks requested a closed-door meeting with President Obama, gold experienced its largest one-day drop ever. COMEX trading records revealed that one bank, JPMorgan Securities, was behind the huge sell of gold Derivatives
William Engdahl: China, gold prices, and US default threat
However, at this point the evidence is clear. Someone is clearly manipulating Gold lower. This is happening almost every morning when someone dumps gold in massive sell orders, pushing the precious metal's price sharply lower.
Phoenix Capital Research: The Clear Gold Manipulation on Display for All To See
King World News Blog: Nazi Style Fed Propaganda Used to Smash Gold Markets
Seeking Alpha: Is the Gold Market Manipulated Part One
Joseph F. Botelho One Gram at a Time
"Pay Yourself First Because the #Economy that Matters Most... is the One in Your Own #Home" https://t.co/wo7XWWjaFZ pic.twitter.com/VSVAtkJ6El— Joseph Botelho (@jfbmarketing) January 19, 2016