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Forex: NZD/USD above 0.84 ahead of China HSBC PMI & RBNZ	16:49 FXstreet - Forex News
Euro members must be prepared to cede sovereignty	16:48 The Daily Star, Lebanon
Dollar dips vs. yen but still near 100 threshold	16:48 The Daily Star, Lebanon
Contango Report: Gold’s Contango Returns	16:46 IndexUniverse.com
5 to 10 minutes old www.usagold.com --LIVE NEWS--
Gold Continue Rebound: Has Sell-Off Run Its Course?	16:41 Investors Business Daily - Investing
15 to 30 minutes old www.usagold.com --LIVE NEWS--
Japan in the early stages of economic recovery: Blackrock	16:34 ForexLive.com
RBI earns over 40% returns from it gold reserves	16:30 The Economic Times
Forex: GBP/JPY support holds at 151.00 as dip buyers remain active	16:29 FXstreet - Forex News
Playing Gold After The Plunge: Be Careful With The Miners	16:24 Forbes.com
Was yesterday's economy as good as it gets?	16:21 Business Spectator - Spectators
Wealthy investors worried about Illinois economy	16:21 Daily Herald, Illinois - Business
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
NZ dollar slips ahead of Chinese data	16:16 TV3 News
Moorhead Environmental Complex Achieves LEED Platinum	16:14 The Street - Markets
Drop in gas prices benefits U.S. drivers, economy	16:13 Shreveport Times, Louisiana
Unloved copper vulnerable to a rally	16:12 FT.com
Dollar flirts with Y100 versus yen	16:12 FT.com
Asian bargain hunters pile into gold	16:12 FT.com
Commodity currencies wobble on cycle fears	16:12 FT.com
Forex Flash: Awaiting the HSBC China PMI - NAB	16:09 FXstreet - Forex News
Wlodzimierz Karpinski named new Treasury Minister	16:08 Warsaw Voice - Business
Gold And Silver: The Recent Dip Makes For An Attractive Entry Point	16:05 SeekingAlpha - Macro View
Study: Growth in health spending, curbed by recession, will rebound	16:05 The News & Observer, North Carolina
Bonds will tempt self-managed super funds: Treasury	16:01 WA Today - Markets
OZ slumps on copper downgrade	16:01 WA Today - Markets
Florida and Texas bankers sue Treasury and IRS	16:00 Miami Herald - Business
Forex: AUD/JPY capped again below 103.10, China data on tap later in session	15:59 FXstreet - Forex News
Aussie dollar lower ahead of China data	15:57 The Age - Markets
ROB Insight: Dr. Copper’s record on predicting the economy: mixed	15:56 The Globe and Mail
MARKET REPORT: Golden chance for bullish miner Randgold Resources	15:52 This is Money - Investing & markets
Asian markets mostly up, dollar nears 100 yen	15:51 Pakistan Observer - Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
Forex: AUD/USD awaits HSBC China PMI above 1.0250, off fresh 1-month lows	15:49 FXstreet - Forex News
Forex Flash: Reasons why EUR should depreciate over coming months - RBS	15:49 FXstreet - Forex News
New Zealand dollar slips	15:48 TVNZ - Business
US Treasury bond market at a glance	15:45 Tuscaloosa News, Alabama - Business
Jeremy Brown's new PCC post makes nuclear physics look easy	15:42 Bizjournals - Portland (Business Journal)
Forex: EUR/USD recovers early losses and closes above the 1.3060	15:39 FXstreet - Forex News
ROB Insight: Air Canada loss reflects an economy losing altitude	15:36 The Globe and Mail
Major Department And Specialty Stores Throughout The US Are Investing In Their Top Producing Personal Shoppers And Personal Stylists By Sending Them To The Sterling Style Academy For Training	15:33 The Street - Markets
TSX closes modestly higher amid economic growth concerns	15:28 Canada.com
Study: Recession prompted slowdown in healthcare spending	15:19 UPI - Health Business
Drop in gas prices benefits US drivers, economy	15:17 Kitsap Sun, Washington - Business
Masers Energy and Silver Spring Networks Team on Smart Infrastructure for Malaysia	15:13 Business Wire (Press Release)
Hedge funds bet on gold rebound after sharp fall	15:10 Business Times Online - World (Premium)
Asia-Pacific consumers more optimistic about economy	15:10 Business Times Online - World (Premium)
S'pore consumers see inflation easing: poll	15:08 Business Times Online - Premium - Top Stories
COMMODITIES-Brent back above $100 in cautious market, gold up too	15:07 Reuters - Energy
Colombia Stocks Climb, Led by Pacific Rubiales; Peso Little Changed	15:07 Fox Business - Industries
Indian gold traders pick bargains fearing price rise	15:06 The Financial Express - Commodities
No impact of plunging price on gold loan companies: AGLOC	15:06 The Financial Express - Commodities
Gold price surges on heavy demand, silver also gains	15:06 The Financial Express - Commodities

Gold's Fundamentals Have Not Changed

by Peter A. Grant

Apr 18, AM
(from USAGOLD.com) --

Gold traded briefly back above the $1400 level in early New York trading, before retreating back into the range. The market continues to be underpinned by considerable physical interest, both in Asia and here in the U.S.

The U.S. Mint is reporting sales of 147,000 ounces in April thus far, with two more weeks left in the month. Some sources are saying the Mint sold 63,500 ounces on Wednesday alone! That's more than they sold in the entire month of March. The U.S. Mint should easily exceed the high water market for the year set in January at 150,000.

Regardless of the big paper driven sell-off that began last Friday, the underlying fundamentals have not really changed. The G-7 economies are moribund at best and recessionary at worst. The central banks of these nations continue to respond with super-easy monetary policy and extraordinary accommodations at best.

A Time magazine article on gold's fall said, "let’s not mistake yesterday’s decline for the end of the gold bull run. [T]he issues confronting traditional currency have not been resolved." Truer words were never spoken; as clearly the debasement of the world's major currencies is an ongoing phenomenon.

Investor and author John Mauldin said earlier this week in his Things That Make You Go Hmmm... newsletter: "[T]he era of fiat currencies is approaching yet another 'end point' due to the way such funny money is being abused by governments and central banks." Mauldin goes on to add, "The only real viable alternative is gold."

While Cyprus is reportedly considering selling at least a portion of it's gold reserves to help finance its bailout, central banks in general remain net buyers of physical gold as part of a broad reserve asset diversification strategy that is unlikely to end any time soon. There is some concern out there that other sovereigns may be pressured to sell gold reserves under duress. Recall however that back in the summer of 2011, when the Greek crisis was in full swing, the Bank of Greece managed to scrape together enough money from somewhere to actually add to its gold reserves.

I don't believe meaningful central bank gold sales are a legitimate risk. If Cyprus does sell 10 tonnes of gold, it will never see the open market. Rather it will most likely be snapped up by one of the many gold hungry sovereigns.

Over the last couple days the yellow metal seems to be trying to form a base. While further tests of the downside can not be preclude, given the size of the paper market relative to the physical market. Conservatively, there are 100 paper ounces of gold out there for every ounce of the real thing. Yet physical buyers have largely been viewing the recent drop has a huge gift courtesy of that paper market. Our phones have been ringing off the hook and I have yet to process a single purchase order, where a client is selling.

Understandably, some clients want to have a conversation about recent price action and timing. However, since the drop began last Friday, they have all been buyers and I view that as perhaps the strongest indicator of all.

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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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Gold's Fundamentals Have Not Changed