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Soros May Have Sold His Gold ETF, But He Is Buying Gold Mining Companies This morning Gold Core ran an article discussing the recent publicized gold ETF sale by George Soros. Of course gold and silver were at the time being hit hard, silver specifically due to margin hikes. All of the media ran with big headlines about how Soros selling his gold ETF was a sign that it was over for gold. However, Soros continues to hold major positions in gold mining companies, which makes sense, since Soros makes no bones about the global economy being on the verge of collapse. Gold is money and is the only time tested safe haven for volatile times, owning gold mining companies gives investors not only exposure to gold, but company profits.
Another thing to consider when analyzing the man who is known for crashing currencies, is that he could have been worried about a gold ETF not having any gold to back it up. This is of course speculative on our part. The Gold Core article offers another good reason, ETF gold holdings have to be declared in SEC filings and it could have been that Soros just wanted to keep his interest in gold more secretive. This is a man who has been to the White House at least five times in the past 2 years and has a massive political agenda, maybe owning gold was just a little to `tea party` for him.
Gold and Silver Decouple From Other Commodities The paper market has seen futures and options increase in net long positions, the demand for a safe-haven is growing with the Greek crisis coming close to a breaking point. This really could get interesting by the end of July since the European debt crisis and the U.S. debt crisis will both be front page news.
This should be a huge wake up call to those betting against the precious metals.
Physical gold demand from Asian buyers has increased in the past week as prices have fallen to multi-month lows. Here in the U.S., Americans are still selling their gold to places like “Cash for Gold” companies that rip people off by giving them 10% of the value per ounce of gold. Since Americans have literally been brainwashed into thinking the dollar is as good as gold, it may take sometime for Americans to catch up to Asians and many Europeans who are already buying physical gold in order to opt-out of the fiat currency experiment.
Silver FutureMoneyTrends.com staff currently goes to four local bullion stores to purchase gold and silver. We have noticed that here in the U.S. physical silver is getting harder and harder to find, and when you do find it (typically online) you have to pay well over spot when you include the price along with shipping. With this type of physical supply crunch, it is hard for us to see silver having another significant pull back since many silver investors are fully aware of the long term supply issues and are also concerned about currency devaluation.
Fed Will Remain the Biggest Buyer of Treasuries The Federal Reserve will use its $2.86 trillion balance sheet to try and keep rates artificially low. Using the proceeds from maturing debt it currently owns, the Fed will remain the biggest buyer of U.S. Treasuries. The Fed could still purchase an average of 25 billion in U.S. Treasuries even without calling for a new round of quantitative easing. [5]FutureMoneyTrends.com believes that the most likely scenario is that eventually the Fed will use the current Greek crisis as an excuse to aid the markets with more quantitative easing.
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