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Wednesday, January 16, 7:27 AM The Bundesbank unveils its gold repatriation plans, with an aim over the next 7 years to have half of its gold stored in its own vaults vs. 31% now. New York's share will drop from 45% to 37% and Paris from 11% to 0%. The move appears to be more about quelling a domestic political flare-up rather than a lack of trust among central banks. 9 Comments [Commodities, Global & FX]
Tuesday, January 15, 10:30 AM The Bundesbank is repatriating at least part of its gold from New York (where 45% of the country's reserves are held) and Paris (11%), according to Handelsblatt. Steve Liesman says the Buba has confirmed the story, and the amounts are to be announced tomorrow. 31 Comments [Global & FX, Commodities]
Wednesday, January 9, 9:48 AM More than any other market in the world, gold is best analyzed technically, says (technician) Peter Brandt. His charts tell him the metal's 15-month sideways action could be setting the stage for a major advance. Maybe not yet though, as there's good reason to believe the flattish activity could continue for many more months. 10 Comments [Commodities]
Friday, January 4, 10:38 AM The central thesis of gold bugs - that the Fed has lost control of the money supply - is now "in tatters," writes Dennis Gartman. The bulls only hope is a more dovish FOMC in 2013. It may be so at the margin, but not materially so, he says. Gold -1.8%, but - as they say - off the lows. 24 Comments [Commodities]
Friday, January 4, 10:06 AM Interesting action in the precious metals had them continuing overnight a sharp fall begun after FOMC minutes suggested an earlier-than-expected end to Fed candy. This reversed with the 8:30 jobs report which showed still-sluggish employment growth. Gold has since bounced $21 to $1,651, though still off 1.4% on the session. Silver jumps $0.70, but remains -2.6%. 26 Comments [Commodities, On the Move]
Monday, December 31, 2012, 1:17 PM Gold is higher following the CME's Friday announcement of a cut in initial gold margins to $6.6K/contract from $7.425K, effective January 2. The maintenance margin will be a lowered to $6K from $6.75K. GLD +1.4%, though the bulk of the gain has come in the last hour. 1 Comment [Commodities, On the Move]
Wednesday, December 19, 2012, 3:57 PM Morgan Stanley pulls the plug on John Paulson, its Wealth Management Division recommending clients sell 6 his funds after 2 years of horrid performance. Paulson is a major holder of GLD, and surely knew the liquidations were coming. Might this have something to do with the recent sell off in the metal, asks ZH. 5 Comments [Commodities]
Tuesday, December 18, 2012, 2:10 PM Comex gold finished with sharp losses, -1.6% to $1,670.70/oz. and its lowest settlement since Aug. 30, and futures continue to spiral lower, down ~2% at $1,664. The usual reasons are cited - expectations of a fiscal cliff resolution, a drop in the U.S. current account deficit, rising homebuilder confidence - but gold has been losing out in a recent trend toward riskier assets. 33 Comments [Commodities]
Tuesday, December 18, 2012, 7:43 AM Gold at $1,200 is among Saxo Bank's outrageous predictions for 2013. The reason: A strong economic recovery in the U.S. saps demand for the safe-haven investment. Eventually, central banks take advantage of the low price and buy (At the bottom? That would be a first). 12 Comments [Commodities]
Thursday, December 13, 2012, 11:09 AM Gold slipping in the wake of the Fed's even easier policies doesn't surprise Uri Landesman, who sees a dramatic correction ahead. The metal performs best as a "flight to quality," he argues, and the Fed moves take that bid away. His downside target next year is $1,400/oz. 25 Comments [Commodities, Quick Ideas]
Monday, December 10, 2012, 8:58 AM Latin American central banks - of all places - have caught the gold bug, with Brazil, Paraguay, Argentina, and Colombia joining Mexico in adding to their reserves of the metal. Brazil seems to the best candidate for significant future purchases, with its gold stash at just 0.8% of reserves, and the central bank looking into diversification. 5 Comments [Commodities]
Friday, December 7, 2012, 2:51 PM Add UBS to the recent flurry of bullish calls on gold, citing next week's FOMC meeting and year-end commodity index rebalancing; gold is likely to be bought this time around as opposed to being sold in previous years. And though the effect so far on gold prices has been a dud, there's still the possibility the fiscal cliff could yield good things. Comment! [Commodities]
Thursday, December 6, 2012, 3:53 PM "Gold remains our preferred fundamental metal exposure heading into 2013," says Morgan Stanley, citing all the usual reasons. Keeping score, that's Morgan and Nomura bullish, Goldman bearish. 7 Comments [Commodities]
Wednesday, December 5, 2012, 8:59 AM Gold gets a downgrade at Goldman Sachs, the firm lowering its 2013 end-of-year price forecast to $1,800/oz., and 2014 to $1,750. "We see growing downside risks ... the gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in U.S. real rates on better U.S. economic growth." 29 Comments [Commodities]
Thursday, November 29, 2012, 9:02 AM Agreeing on the creaky condition of the fiscal position of Western governments, two economists come to the opposite conclusion on gold. Lombard's Leigh Skene thinks the EU debt crisis has set in play a deflationary spiral in which gold falls (and sliver plunges), while John Williams says 2014 will bring realization of the U.S. government's insolvency and a soaring price. 7 Comments [Commodities]
Thursday, November 15, 2012, 10:01 AM Gold slides 1.1% amidst the World Gold Council reporting an 11% Y/Y decline in Q3 demand to 1.1K metric tons. Central banks remained steady buyers, but investment demand - ETPs, bars, coins - was off 16% Y/Y. The WGC notes 2011 Q3 is a tough comparison, and demand remains well above the 5-year average of 984.7 metric tons. 12 Comments [Commodities, On the Move]

UBG UBS ETRACS CMCI Gold Total Return ETN

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UBS ETRACS CMCI Gold Total Return ETN