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5 to 10 minutes old www.usagold.com --LIVE NEWS--
Indian rupee off highs, ends 7 paise down vs US dollar at 54.21	16:28 Indian Express
Vale iron ore output falls; copper, cobalt rise	16:26 Reuters - Economy
10 to 15 minutes old www.usagold.com --LIVE NEWS--
The Bull Market's Last Stand?	16:22 Barron's Online - Bonds
Dallas Fed: Regional economic activity picked up in recent weeks	16:21 Austin American-Statesman, Texas
15 to 30 minutes old www.usagold.com --LIVE NEWS--
ECB could cut rates further: German central bank chief	16:19 EUbusiness.com
Romania drops target date for euro adoption: report	16:19 EUbusiness.com
Moody’s reviews rating of Barrick Gold for possible downgrade	16:18 Toronto Star
Reserve releases help Platinum beat the Street	16:17 The Insurance Insider
Document \| Report to Kentucky Economic Development Finance Authority	16:17 The Courier-Journal, Kentucky - Business
Highlights from the Fed's US economic survey	16:16 The Oklahoman
BOJ may reach two percent inflation target by spring 2015 - Nikkei	16:11 The West Australian - World
Copper price gyrates with bulls and bears	16:10 Proactive Investors - Australia
Russ Brown Motorcycle Lawyers - The Only Attorney Sponsor of the Colorado State …	16:08 Yahoo! US - Business - Press Releases
Wimpy Global Economy Will Drag On Freeport McMoRan's Earnings	16:06 Forbes.com
US Treasury bond market at a glance	16:05 York Dispatch, Pennsylvania - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Session Recap: BoC on hold; Weidmann hurts the Euro	16:03 FXstreet - Forex News
Lower gold prices lure bullion buyers	15:59 Proactive Investors - Australia
CIC bullish on gold in face of price slump	15:58 South China Morning Post - Banking & Finance
Forex: NZD/USD holding stronger than the rest; above 0.8430	15:53 FXstreet - Forex News
Dollar hits five-week lows	15:52 The Age
Gold and Silver Continue to Struggle	15:50 Fox Business - Economy
Colombia's Colcap Index Declines on Ecopetrol; Peso Retreats	15:49 Fox Business - Industries
Copper leads decline on weak economic outlook	15:46 Tuscaloosa News, Alabama - Business
Recession looms as commodities crash	15:40 MSN Money - Latest Articles
Gold prices suffer biggest ever loss on global cues	15:38 The Financial Express - Commodities
Gold price plunges to 20-month low, silver slides too	15:38 The Financial Express - Commodities
Gold’s massive sell-off: speculation continues as to what caused it – Take 2 :-)	15:37 ForexLive.com
NZ dollar climbs vs. euro on Weidmann comments	15:35 Scoop - Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
Forex: EUR/USD fell to 1.3000 after its worst single day decline since Feb 25	15:33 FXstreet - Forex News
Single Mandate Or Fear Of Inflation Demons	15:33 iStockAnalyst.com
Indian economy likely to grow by 5.7 percent in 2013: WEO	15:30 The Financial Express - Economy
Scotland sees economy beat whole of UK	15:28 FT.com - UK Politics & Policy
COMMODITIES-Brent slips further below $100; copper extends slide	15:26 Reuters - Economy
Treasury secretary laments indiscriminate fiscal austerity in Europe	15:26 Reuters - Economy
USW: Immigration Reform Would Boost U.S. Economy	15:25 The Street - Markets
Gold Is Plunging -- Which Commodities Are Joining It?	15:23 iStockAnalyst.com
Bullard Concerned About Low Inflation	15:17 SeekingAlpha - Macro View
Gold Trying to Find a Base (Update 2)	15:15 The Street - Markets
Stocks Fall On Signs Of Slowing Global Economy	15:15 The Street - Markets
Gold ETF Trades at Biggest Discount Since Feb. 2012	15:14 Bloomberg - Personal Finance
ThyssenKrupp consolidating Cranberry copper and brass sales facility	15:14 Pittsburgh Business Times
Stocks fall on signs of global economic slowdown	15:09 NJ.com - The Star-Ledger - Business
Amex lifted by consumer spending	15:08 FT.com - Financial Services
Tunisian economy makes tentative recovery	15:08 The Daily Star, Lebanon
New pressure on yen as gold jitters ease	15:07 Business Times Online - Editorial and Opinion
Eurozone morass: 2-tier currency may be way out	15:07 Business Times Online - Editorial and Opinion
Don't dump gold yet, inflation is still alive	15:07 Business Times Online - Editorial and Opinion
Argentine Peso Blues Update	15:07 SeekingAlpha - Macro View
Gold: The Color Of Blood	15:07 SeekingAlpha - Macro View
Better Economy Means Fewer Entrepreneurs	15:06 Business Week - Global Business

Great Paper Gold Deluge 2013

by Peter A. Grant

Apr 17, AM
(from USAGOLD.com) --

Four days into the Great Paper Gold Deluge of 2013, it is beginning to look like the market is stabilizing around the $1380 per ounce level. At the Deluge’s beginning, gold was meandering along minding its own business with $1600 per ounce seemingly a barrier to further progress on the upside. Then came the mystery deluge of roughly 500 tonnes of paper gold – an event that led to an almost $200 drop in the gold price in the course of two short days.

Lower prices almost always generate both greater demand and ultimately shrinking supply, the one truism of free markets that needs to be remembered at times like these. The free market, as long as it breathes, has a way of taking care of itself. At the core, those who believe in the long-term value and viability of the metal see dips as opportunities. Early on, the big dump in gold lit up demand starting with the United States and Europe on Friday and carrying over to the Far East and Middle East on Monday.

Bloomberg online aired a number of interviews on the gold dump.

- UBS’ Dominc Schnider says the price drop was “excessive” and that gold is not “overly owned." That fact alone, he says, will lead to higher prices down the road.

- The irrepressible Jimmy Rogers says gold will go “much higher” over the coming decade and that where we are now looks like a “selling climax.” He goes on to say that “gold has gone on up every year” for twelve years, and that a correction was overdue.

- FX Concept's John Taylor, who has gained quite a reputation as an economic forecaster in recent years, says we are “getting close” to a low and now in “the buying opportunity range.”

- Tom Fitzpatrick, chief technical analyst at Citigroup, says gold’s drop is “not unprecedented”, i.e., that it compares to the drop in the mid-1970s and that it is headed for $3400 per ounce. He adds that the correction is healthy and that central banks and sovereign wealth are likely to take advantage of the lower prices. He concludes that investors should be buying this dip.

Fitzpatrick makes an important observation. In this new era for gold, institutional paper selling begets institutional, sovereign wealth fund, and central bank buying. That was not the case in the beginning years of this bull market. The days of uncontested short positioning in the gold market are over and that perhaps explains why in recent years sharp corrections have been followed by quick recoveries. The best strategy for the small private investor is to quietly accumulate and watch the big players battle it out.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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