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Gold


Gold from 1975 with 200 day exponential average
in red. 200 day Rate of change (ROC)green.
 














Gold recent with 200 day exponential average
in red. 200 day Rate of change (ROC)green.
 
Gold price adjusted by CPI
(Log chart, $1.95 is $195)
 
Gold Lending Rates (London)
 
Gold Exchange Traded Fund (Symbol GLD)
Exponential Averages 200 days, 20 days, 5 days.
20 Day Donchian Channel blue.
 
Gold & Silver comparison and ratio in (red)
 
Gold / Crude Oil Ratio
 
Dow / Gold Ratio
(DJIA divided by Gold $ per oz price)
400 day xaverage yellow.
 
Gold Futures - The Blue line is a Donchian channel,
red line is a 5 day exponential average,
green line is a 20 day exponential average.
Vertical green bars MACD (Moving average convergence divergence) 5 and 20.
 
Gold Point & Figure
(Box Value = $1, reversal = 3 boxes).
The data plotted is spot gold (H&H) NY close.
 
Gold Point & Figure
from 1976 Box= 10 Reversal = 5
 
Gold Price in Euro Currency and 200 day day exponential average (red)
 
How many Ounces of Gold does it take to buy the
Average U.S. House?
 
World Gold Production
 
Comex CME Gold Inventory
 
Top Gold Holdings as of June 2010 (Tonnes)

1
United States
8,133
2
Germany
3,406
3
IMF
2,966
4
Italy
2,451
5
France
2,435
6
China
1,054
7
Switzerland
1,040
8
Japan
765
9
Russia
668
10
Netherlands
612
11
India
557
12
ECB
501
13
Taiwan
423
14
Portugal
382
15
Venezuela
363
16
Saudi Arabia
323
17
United Kingdom
310
18
Lebanon
286
19
Spain
281
20
Austria
280

 
Gold Notes & Links:
 



1 metric ton of Gold =
32,151 troy ounces.
1 troy ounce = 31.103 grams
(FT) the ratio of gold to silver in the earths crust – about 19:1

________________________________________

11/30/14 Swiss Gold Referendum Fails .. 78% vote against.
3/2/14  (Bloomberg) The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say.
YoY Australia’s Gold production rose 18 metric tons to 273 tons in 2013, the highest annual output since 2003, Melbourne-based Surbiton said.
12/2/13 Bullion prices may drop to $1,045 by the end of next year, Goldman’s Currie said
11/28/13 Bloomberg forecasts China to pass India in Gold purchases and projects a 29% growth in Chinas gold purchase for 2013.
8/24/13 The World Gold Council sees Q2 Global gold demand at 856.3 tons - down 12% YoY to a 4-year low on liquidation from gold ETFs.
6/3/12 Southern Europe's debtor states must pledge their gold reserves and national treasure as collateral under a 2.3 trillion stabilization plan gaining momentum in Germany.
5/12/12 China’s gold output in the first three months of the year reached 80.8 tonnes, up 10% YoY.
4/24/12 Mexico added 16.8 metric tons of gold valued at about $906.4 million to its reserves in March as nations including Turkey, Russia and Kazakhstan increased their holdings of the metal, International Monetary Fund data show.
12/9/11 Gold Council:
Q3 Gold demand up 6% YoY
Q3 Investm. demand rose 33% YoY
Q3 Gold ETF demand rose 58% YoY
Q3 jewlery consumpt. fell 10%
Q3 supply rose 2% YoY to 1034 t
Q3 Mine production rose 5% to 746 t
11/18/11 Central Bank gold buying of 148.4 tonnes is a 40 year high
9/16/11 (FT) European central banks have become net buyers of gold for the first time in more than two decades.
8/22/11 Early warning sign ?? GLD overtakes SPY (S&P) as world’s largest ETF.
7/14/11 Paul Volcker dismissed the possibility of a return to the gold standard, saying that, among other things, "I don't think there's enough gold in the world."
Central banks have bought more gold in the first half of this year than in all of 2010 as a long-anticipated reversal in so-called "official sector" sales gathers pace, the World Gold Council said.
7/1/2011 YoY Q1 Gold Demand rose 11%. Retail demand rose 26% YoY.
Q1 Gold Supply fell 4% YoY.Q1 mine production rose 7% YoY
5/17/11 Soros said his hedge fund dumped nearly all of its gold holdings.
5/4/11 The central bank of Mexico bought nearly 100 tonnes of gold in February and March.
5/3/11 Funds led by well-known investors such as George Soros and John Burbank have been selling off their gold and silver holdings recently, helping fuel the metals' price falls, The Wall Street Journal reported late Tuesday.
The IMF announced on Tuesday the conclusion of the limited sales program covering 403.3 metric tons of gold that was approved by the IMF in September 2009.
12/13/10 Precious metals will probably give investors the best returns among commodities in the next year, and livestock the worst, Goldman Sachs  said. Goldman also sees cotton prices hitting 125 cents a pound in a year's time, and soybeans at $14.00 a bushel.
9/29/10 Pension funds will be looking to increase their gold holdings considerably after years of "negligible exposure," the director of global research from the Teacher Retirement System of Texas has said.
8/27/10 (WGC) Over the longer-term, demand for gold in China is expected to grow considerably. A report recently published by The People’s Bank of China and five other organizations to foster the development of the domestic gold market will add impetus to the growth in gold ownership among Chinese consumers.
(Bloomberg) -- Gold demand in Vietnam, which consumes more of the precious metal per head than India and China, is set to surge as the third devaluation in the past year and a stock-market slump combine to spur sales.
7/16/10 Assets held in Japan’s first exchange-traded funds backed by gold and other precious metals may increase eight-fold in a year as investors seek to protect their wealth in the country with the world’s biggest public debt -- said Osamu Hoshi, deputy general manager at Mitsubishi Trust and Banking
Finally, increasing the gold reserve will not help much in diversifying China's foreign exchange reserves. In the past few years, we increased the gold reserve by more than 400 tonnes. Our country's gold reserve has already reached 1,054 tonnes. Even if we double the amount, it can only diversify between $30 billion to $40 billion of the foreign exchange reserves, and the proportion of gold reserve in our foreign exchange reserve will only increase by one or two percentage points.
7/1/10 India’s gold imports may fall as much as 36% this year as higher prices and volatility slows demand -- the Indian Bullion Market Association said.
6/30/10 The International Monetary Fund’s gold holdings fell 15.25 metric tons in May, according to figures from the Washington-based lender’s website.
6/7/10 Iran: 'Sheer lie,' central bank chief says of report that country will sell 45 billion Euros to buy gold, dollars.
6/2/10 According to China's Xinhua, Iran will sell euros for the U.S. dollar and gold. Iran joins a host of other emerging countries like China and India that have been ramping up their gold reserves and discarding paper currencies
3/29/10 The World Gold Council said China's gold consumption was 11% of world demand in 2009 and that it was expected to double in the next ten years.
1/13/10 India imported 343 tons of gold in 09, down from 420 tons in 08
1/3/10 China appears to have overtaken India as the number one private gold buyer in 09.
11/29/09 The rush by retail investors into gold has forced the US government to suspend sales of the world’s most popular bullion coin, the American Eagle, after running out of inventories for the second time since August of 08.
According to the China gold association, Chinas gold demand may be more than 450 metric tons this year, up from 395.6 tons in 2008, and output may climb to 310 tons, compared with 282 tons a year earlier.
11/19/09 The World Gold Council said gold demand totaled 800.3 tons in Q3, up 15% QoQ , but fell 34% YoY. YoY Mine production rose 6%.
Dylan Grice at Societe General says the price at which the dollar would be fully backed by gold (as it was at the peak in the 1970s) is $6300
11/3/09 Gold has hit an all-time high of USD 1,085 after it was announced that India's central bank had bought 200 MT of the stuff from the IMF in deal worth USD6.7 billion. This appears to confirm that central banks are comfortable entering the market to hold gold at over USD 1,000/oz.
(Bloomberg) -- Kinross Gold Corp., Canada’s third- largest producer of the precious metal, said the gold industry is facing a crisis of declining reserves as investor demand outpaces supply.
“We may be in the midst of a perfect storm in terms of price and industry dynamics,” Tye Burt, chief executive officer of the Toronto-based company, said at a conference in Denver today. “Globally production has been in decline since the peak of 81 million ounces in 2001 to 77 million ounces last year, and we see that decline continuing long term.”
9/15/09 (FT) Central banks are set to become net buyers of gold this year for the first time since 1998, according to GFMS, the metals consultancy.
8/19/09 (FT) Demand for gold sank to a 5½-year low in the second quarter of 2009 after jewellery consumption dropped by more than one fifth and investment interest slowed as the threat of meltdown in the global financial system receded.
8/7/09 The European Central Bank and 18 other banks agreed to limit their sales of gold to no more than 400 tons per year until 2014.
7/8/09 Chinese official are touting an expansion of gold holdings by China and suggesting that the increased holdings were needed as a hedge against a long term downtrend in the Dollar
7/6/09 (FT) India, the world's largest consumer of gold, faces a drop in precious metal imports after the government revealed plans to double import taxes on gold and silver
5/20/09 The World Gold Council said gold demand was 1,016 tons in Q1, up 38% YoY
4/24/09 China has nearly doubled its gold reserves in the last five years as it diversified its foreign exchange reserves away from US dollar assets. China now holds 1,054 tons of gold in reserve.
3/24/09 The world outgrew the gold standard decades ago. But a "paper gold" standard might be one way out of the global financial crisis. Zhou Xiaochuan governor of China's central bank said.
3/20/09 A gold bubble may well be coming our way  ..At current prices, annual gold output is worth only $104bn and the global gold stock only $5.12 trillion. Central bank gold reserves total $895bn, a fifth of currency in circulation. Even a quintupling in the gold price, to $5,000 per ounce, would raise the value of annual gold production only to $500bn and the global gold stock to $25tn, just 20pc above the world’s M1 money supply.
2/25/09 South Africa's Chamber of Mines said the nation's gold production fell 14% in 2008 to the lowest level since 1922.
1/30/09 Gold futures rose to their highest level in six months. Holdings in GLD (ETF) have reportedly reached record levels, now above that of Japan, the seventh-largest holder of gold on the planet.
(Reuters) - Gold is likely to hit new record highs, spurred by serious concern about the U.S. currency and doubt about the state of the world economy, the chairman of Barrick Gold Corp. said on Thursday.
There was even a possibility, although not a probability, central banks, including China's, might start to switch from dollar holdings to gold..
1/21/09 Indian gold imports for 2008 fell by 47%.
1/15/09 YoY South Africa’s gold production fell 8.7% in November
12/9/2008 YoY South Africa's gold production fell 14.4% in October
11/21/08 The World Gold Council said world gold demand was 1,133 tons in the third quarter of 2008, up 18% YoY.
8/7/08 YoY South Africa gold production fell 12.3% in June.
Demand for gold will also rise as central banks become net buyers for the first time in 20 years, driven by developing countries, he added. Last year, world production of gold sank to the lowest since 1937 as reserves are depleted and few new sources of gold have been found.
4/11/08 Statistics South Africa says South Africa’s gold production fell 28% YoY
4/9/08 Gold Fields Mineral said that 2008 gold production will remain stable, suggesting to some, that this will result in a tightening of supply.
12/3/07 Gold demand in China, including the mainland, Hong Kong and Taiwan, rose 24 percent in the third quarter to 88.1 tons, the World Gold Council said.
11/9/07 Europe's central banks sold 50 tons of gold in October.
9/20/07 Credit Suisse, raised its 12-month forecast for gold, silver and other precious metals because of supply shortfalls and a decline in the value of the dollar.
8/26/07 Dubai gold sales rose 33% in July despite high prices.
4/4/07 GFMS Ltd. said world gold mine production was down 3% in 06, the lowest level in ten years.
2/15/07 The World Gold Council estimates 2006 world gold mine production at 2,467 tons down 2% . They estimate 2006 demand at 3,362 million tons, down 10%.
10/5/06 Conflicting opinions arose on Thursday whether the European Central Bank had sold its full 500-t yearly quota of gold under the five-year Central Bank Gold Agreement.
8/16/06 The World Gold Council said that world demand for gold totaled 802 tons in the second quarter of 2006, down 16% YoY. World mine production totaled 625 tons in the second quarter, up 2.3% YoY.
5/24/06 The World Gold Council said that 2005 world gold demand totaled 836 tons, down 16% YoY. Mine production totaled 607 tons, up 5% YoY.
5/15/06 Dow-Jones News Wire reports that S&P and the Toronto Stock Exchange are preparing to roll out the first real-time global gold index. The Toronto Stock Exchange is home to about 60% of the world's public mining companies. The new index is expected to be up and running by the end of the year.
4/17/06 Goldfields Minerals Survey said that world gold mine production increased 2% in 2005 and they are expecting a 4% increase in 2006.
3/6/06 Gold production in South Africa totaled 296.3 tons in 2005, down 13% YoY and the lowest production since 1923.
1/25/06 Regulators in India will allow mutual funds to launch gold ETF’s.
12/08/05 In the most recent quarter South Africa's gold production was down 3.4%.
"In India, the largest gold market in the world, demand year over year to June was up 47 per cent, China was up 14 per cent," Mr Lassonde said.
In due course, Brown sold off 300 tonnes at just $275 an ounce - close to a 20-year low. Roughly a third of the proceeds were then invested in euros - which then proceeded to plummet.
11/17/05 The World Gold Council reported that gold demand was up 16% through the first three quarters of 2005.
Trends indicate that international central bank's store of gold could fall further in future as yields received from the yellow metal decline, but is there another argument for investing in gold?
11/15/05 South African Reserve bank may up gold reserves - Mboweni The central bank is very comfortable holding these gold reserves because of the metal's war-chest qualities, because gold is no-one's liability and because it allows prudent diversification in the bank's total reserves," Mboweni said in the text of the speech.
11/15/05 French gold sales allows FX reserves diversification Strauss-Kahn declined to say in what currencies the BOF would invest the proceeds of its plans to sell up to 600 t of gold reserves over a five year period - a strategy which it said last year it had agreed with the French finance ministry.
She told the conference that the BOF's gold reserves amounted to 3 024 t, comprising 55% of its total gold and foreign exchange reserves or 3,7% of gross domestic product.
11/15/05 The London Bullion Market Association expects gold to reach $550 per ounce by the middle of 2006. They anticipate the driving force to be a weaker US economy and strong demand from India. Because of jewelry demand gold usage was up 10% in the first six month of 05.
11/14/05 South African gold output was likely to fall to an 80-year low of 300 tons in 2005 down from 346 tons in 2004, which was the lowest level since 1931, Andisa Securities gold analyst Dr Dave Davis said on Monday.
11/08/05 The IMF holds 103.4 million ounces (3,217 metric tons) of gold at designated depositories. The IMF's total gold holdings are valued on its balance sheet at SDR 5.9 billion (about $9 billion) on the basis of historical cost. As of August 31, 2005, the IMF's holdings amounted to $45 billion (at then current market prices).
10/13/05 Statistics South Africa said that YoY gold mine production was down 3.9% in June to August.
09/16/05 U.S. Benchmark gold futures closed at a 17-year high on Friday because of a robust "International" demand for bullion.
09/16/05 Argentina's central bank may increase gold reserves as a hedge against inflation and protection against a financial crisis, Juan Ignacio Basco, bank head of market operations, said yesterday in London
09/09/05 YoY South Africa's gold mining production was down 12% in July.
08/23/05 South African gold production in the second quarter of 2005 fell by 2.4 percent versus the first quarter and by a significant 18 percent on a year-on-year basis when compared to the second quarter of 2004, the Chamber of Mines said on Tuesday.
06/02/05 The World Gold Council said that world gold demand totaled 977 tons in the first quarter of 2005, up 26% YoY.  YoY,  Jewelry demand was up 19%.
04/25/05 In a dramatic turn of events, the International Monetary Fund (IMF), has joined debt campaigners across the globe by stating clearly that it is in fact possible to sell its vast undervalued (and idle) gold reserves to finance further debt relief for some of the world's poorest countries. The viability of this proposal, after years of opposition, has been formally recognised by the staff of the IMF in a new paper. The IMF paper, prepared by the Fund's Department of Finance at the request of the major creditor nations last year, was discussed by the IMF Board on 30 April.
04/18/05 June gold was helped by comments from U.S. Treasury Secretary Snow saying he does not favor the IMF plan of selling gold to provide debt relief to less developed countries.
04/12/2005 Gold output falls to 73-year low www.Iafrica.com reported today that South Africa's 2004 gold production was the lowest since 1931.
04/11/05 The CEO of AngloGold is predicting a range of $400 to $500 per ounce for gold in the "foreseeable future."
Australia's gold output sank to a nine-year low in 2004 following exceptionally wet weather in Western Australia early in the year and a large number of plant closures. Gold production for the year was down to 261 tonnes, 6.5 per cent less than 2003, Melbourne consulting group Surbiton Associates said.
02/27/05 Most G-7 members favour IMF gold sales But an outright sale from the IMF, the world’s third largest gold holder, is not the only option under consideration, according to the article.
Options could include a sale to an interested central bank or a revaluation of IMF gold reserves to current market prices, which would generate a paper profit that could be used to offset losses from debt write-off, it said
02/25/04 Newmont profit up, but sees lower gold sales "We remain optimistic about gold prices, given the current macro-economic and market fundamentals," said Chairman and Chief Executive Officer Wayne Murdy.
02/24/05  The 2004 supply and demand figures from the World Gold Council show 2004 world mine production down 4.4% to 2,478 tons while total demand increased 8.2% to 3,484 tons. Central bank sales were (helpfully) reduced by 19% in 2004.
02/17/05 Barrick Gold, produced 5 million ounces in 2004, earning $248 million on the year (nearly $50 per ounce). Barricks production in 2003 totalled roughly 5.5 million ounces.
02/04/05 The new gold rush.. More than 100 years later, events on the far side of the world are again reverberating in the Coromandel township. This time, US President George W. Bush can take the bow.
02/03/05 There is talk that the International Monetary Fund may sell part of their gold reserves to raise money for poor nations.
01/28/05 The iShares COMEX Gold Trust began trading  on the American Stock Exchange under the symbol IAU
01/27/05 China produced 212.35 tons of gold in 2004, setting a new annual record, according to the China Gold Association. China produced only 90 tons of gold in 1994.
percent from 2003 as the country liberalises its bullion market.
12/20/04 The Bundesbank said on Monday that it will sell only a fraction of the gold it is entitled to dispose of in the first year of an international agreement.
12/15/04 Comex gold warehouse stocks were unchanged Tuesday at 5,577,090 ounces.
12/15/04 The Dow Jones Newswires said that South Africa will produce just 345 tons of gold this year, the lowest amount since 1947.
12/01/04 Global figures, which were compiled for the World Gold Council by GFMS Ltd, a London based company specialising in gold market research, reveal that consumer demand for gold in July-September 2004 was six per cent higher than July-September 2003 in tonnage terms.
11/20/04 The StreetTRACKS Gold Trust (GLD) began its first day of trading on a high note as $550 million were put into the fund on the NYSE on Thursday
10/26/04 Regulatory approval for a much-anticipated gold-backed security that is expected to soon launch on the New York Stock Exchange.
10/18/04 Retail gold sales in the Gulf for the Second Quarter of 2004 rose by 22% from $ 1.03 billion to $ 1.253 billion vis-a-vis the same corresponding period in 2003, according to regional office of the World Gold Council
10/17/04 Riding on recovery in the economy, India's gold imports are poised to grow by 10 per cent to the region - 880 tonnes versus 800 YoY.
08/20/04 The World Gold Council announced that total world gold demand increased 10% in the first half of 2004, due to  increased demand from Turkey, China, and India.
06/01/04 Gold Fields Mineral Services, Ltd. said that world gold mine production was down 3.5% in the first quarter from a year ago.
03/08/04 The European Central Bank and 14 European banks renewed their agreement to limit gold sales to  500 tons per year for the next five years, up from the previous agreement's 400 ton per year limit.
01/28/04 As part of its annual export and import policy changes, India's federal government Wednesday ended restrictions on the import of gold and silver.
01/28/04 Japanese Finance Minister Sadakazu Tanigaki said
   his ministry will carefully consider whether to change the
   composition of its $673.53 billion in foreign reserves, including the
   weighting of gold in that total.
01/28/04 The central bank of Norway said that they sold 16 tons of gold in January.
01/21/04 Germany's Bundesbank has requested that it be allowed to sell up to 600 tons of gold in the upcoming five-year agreement for European Central Banks
12/03/03 Barrick: Will Not Hedge Output Even If Gold Hits $500/Oz
08/04/03 The President of Newmont Mining Corp  expects the price of gold to reach $450 per ounce within one year due to continued weakness in the U.S. dollar and increasing demand from China.