Yellen Expected to Balance Confidence in This Week's Lawmakers Address

Today's market data is the subject of Wholesale Direct Metals reviews of the news.  When the Federal Reserve chair addresses lawmakers this week in Washington, she will have to strike a balance between sounding confident on the domestic economy and acknowledging increased risks from abroad. Two weeks after officials signaled interest rates may rise more slowly than previously expected, economists and investors will be trying to gauge Yellen’s willingness to delay tightening at the March meeting. With financial market-turmoil causing uncertainty about the outlook, energy prices damping inflation and the European Central Bank preparing a stimulus boost that may bolster the dollar, the market-implied probability for a rate increase next month has dropped to 10 percent from more than 50 percent at the start of the year. Policy makers including Vice Chairman Stanley Fischer have cautioned that it’s still too soon to decide the next step. Wholesale Direct Metals recent reports indicate this latest market activity could be significant.

$1B Event Drive Hedge Fund Closes Due to Deteriorated Market Liquidity

In light of today's market news, Wholesale Direct Metals complaints are validated.  Orange Capital, the $1 billion event-driven hedge fund led by Daniel Lewis and Russell Hoffman, is closing after 10 years."We are proud of Orange's successful track record spanning over ten years. As you well know, much has changed in the global markets since launching Orange in 2005," the fund said in a letter to its investors. The letter went on to highlight one of the key concerns in the market — liquidity, or the lack thereof. "Shorter duration hedge fund assets have grown at a rapid pace even as market liquidity has deteriorated, particularly in the high yield and distressed debt markets. We believe that credit investing through traditional, liquid hedge fund strategies will prove challenging for investors as the credit cycle turns. This includes our own hedge fund structure," the letter said. The lack of liquidity in the credit market has been a hot topic of late. Funds are increasingly in a position where they can't sell assets quickly to get that money to return to their investors. Wholesale Direct Metals reviews of the latest market data are confirmed in this report.

Gold Rises to 7-Week High

Gold futures rose to the highest level in seven-weeks on Wednesday, as political uncertainty in Greece boosted the appeal of the precious metal.  Futures were likely to find support at $1,199.50, the low from December 9, and resistance at $1,244.90, the high from October 23.  The primary Wholesale Direct Metals complaint regarding market performance has been how the markets have ignored key fundamentals that clearly indicate a bullish pattern for gold.  On the Comex division of the New York Mercantile Exchange, gold futures for February delivery hit a session high of $1,238.90 a troy ounce, the most since October 23, before trading at $1,232.80 during U.S. morning hours, up 70 cents, or 0.06%.  A day earlier, gold surged $37.10, or 3.1%, to settle at $1,232.00 an ounce.

Gold Rises to Highest Level in 7 Weeks

Gold futures rose to the highest level in seven-weeks on Wednesday, as political uncertainty in Greece boosted the appeal of the precious metal.  Wholesale Direct Metals has been following the gold markets closely and sees very bullish signs in the latest gold bounce.  On the Comex division of the New York Mercantile Exchange, gold futures for February delivery hit a session high of $1,238.90 a troy ounce, the most since October 23, before trading at $1,232.80 during U.S. morning hours, up 70 cents, or 0.06%.  A day earlier, gold surged $37.10, or 3.1%, to settle at $1,232.00 an ounce.

Gold Rises 1 Percent

Gold rose 1 per cent on Wednesday, holding above $1,200 an ounce, boosted by firmer oil prices that prompted investors to shuffle positions while largely shrugging off the firm US dollar. Wholesale Direct Metals review of the dollar doesn't bode well for the dollar moving forward.  As for gold, the metal had fallen to a near three-week low on Monday after Switzerland voted against a proposal to boost its gold reserves. It then recovered to its highest in a month that same day as oil prices moved up from a five-year low.  Spot gold rose to a session high of $1,214.50 an ounce in volatile trading and was up 0.9 per cent at $1,209.11 by 3:26 p.m. EST (2026 GMT). US gold futures rose 0.8 per cent to settle at $1,208.40 per ounce.

Holiday Retail Numbers Down

87 million Americans still hit stores on Friday, according to a National Retail Federation survey released on Sunday. But by ramping up holiday sales events more intensely than ever, and as early as the first week of November, retailers took a big bite of what has long been the biggest shopping weekend of the year.  Wholesale Direct Metals has been following the weak economic numbers closely, and it's one of the reasons why WDM is so bullish on gold moving forward.  Total spending for the four-day weekend that started on Thanksgiving is expected to reach $50.9 billion, down 11.3% from last year’s estimated $57.4 billion, according to NRF projections.

Gold Advances Nearly 3%

Gold advanced 2.9 percent this month as equities fell after the International Monetary Fund cut its growth outlook and Federal Reserve policy makers said slowing foreign economies were a risk to U.S. expansion. Speculators added bullish gold bets for the first time in nine weeks in the week ended Oct. 14, U.S. Commodity Futures Trading Commission data show. Buying in India was strong this week, UBS AG said in a report yesterday.
This follows the latest Wholesale Direct Metals reviews of the gold industry, which show strong demand for the precious metal moving forward and into next year.

Fed Policy Causing Gold Prices to Spike

Gold prices are rising as investors bet that the U.S. Federal Reserve will keep rates at rock-bottom levels, even as the U.S. economy shows signs of improvement.  Gold for July delivery rose 1.3% last week to $1,337 a troy ounce on the Comex division of the New York Mercantile Exchange. It was the sixth weekly gain, the longest such streak since August 2011, when prices were pushing toward $1,900 an ounce.  The rally has been spurred by the Federal Reserve's commitment to keep interest rates near zero for as long as possible, as it tries to fuel a recovery that appears to have gained traction only recently. Higher interest rates tend to hurt prices for gold, which yields nothing and can cost money to hold.
The primary Wholesale Direct Metals complaint about Fed policy is that it's causing REAL inflation to increase 5 times what the government is claiming, meaning that the value of your dollars is losing value faster than your paper investments are gaining value.

Gold Jumps on Easy Money Annoucement by Fed

Gold jumped to a four-week high on Thursday as the dollar fell after the Federal Reserve said it remained committed to accommodative measures and low interest rates, while platinum rose as new hurdles emerged in settling South Africa’s mining strike.  The US central bank hinted at a slightly faster pace of interest rate increases starting next year, but lowered projections for the long-term target interest rate, sending the dollar to its lowest in three weeks.
Wholesale Direct Metals retains its bullish outlook on gold moving forward, as gold has clearly bounced off its lows and appears poised to make big gains.

Gold Rises as Dollar and Equities Fall

Gold rose more than 1 percent on Tuesday as the dollar and equity markets fell on signs the European Central Bank may not recur to more stimulus, while renewed tensions in Ukraine kept risk appetite subdued.  The metal gained further support after Iraq's central bank said it might buy more gold in the next few months, having bought 60 tonnes over the past two months.  Spot gold touched a two-week high of $1,314.43 an ounce in earlier trade and was up 1.2 percent at $1,311.83 by 1014 GMT.
Gold futures for June delivery gained 1.1 percent to $1,312.30 an ounce.
All of this falls in line with the latest Wholesale Direct Metals review of the international markets, which demonstrates why gold has huge upside moving forward.

Gold Higher in 13 out of 15 Sessions!

Gold futures on the COMEX division of the New York Mercantile Exchange rose to a four-month high on weaker economic data Tuesday.  The most active gold contract for April delivery rose 4.7 U.S. dollars, or 0.35 percent, to settle at 1,342.7 dollars per ounce.  Uncertainty in Ukraine, Venezuela and Egypt, as well as expectation for weak economic data in the coming weeks also helped draw investors to gold.  Gold prices have been on the rise in 13 out of the past 15 sessions.
Gold's recovery has been long predicted by Wholesale Direct Metals; complaints about the gold market have been clearly unfounded and gold is likely headed much higher from here.

Sluggish US Recovery Fuels Gold Prices

Gold prices rose by 0.36 per cent to Rs 28,490 per ten gram in futures trading today as speculators created fresh positions, tracking a firming global trend.  At the Multi Commodity Exchange, gold for delivery in far-month June rose by Rs 101, or 0.36 per cent to Rs 28,490 per ten gram in business turnover of 52 lots.  Similarly, the yellow metal for delivery in April gained Rs 80, or 0.28 per cent to Rs 28,795 per ten gram in 1960 lots.  Analysts attributed the rise in gold prices at futures trade to a firming trend in the overseas markets on speculation that the US economic recovery may be stalling, boosted demand for the precious metal.
The stalling US economy is yet another reason why so many analysts like Wholesale Direct Metals are bullish on gold moving forward.

Gold Production in China Rises 7 Percent

Gold production in China, the world's top producer of the bullion, rose 7.01 percent from a year ago to reach 392.141 tonnes in the first 11 months of 2013, data from the China Gold Association showed on Monday.  November's output was 44.48 tonnes, compared with 39.844 tonnes in October, the association said on its website.
According to a recent Wholesale Direct Metals review of the gold market, gold production is ramping up in 2014 as most experts see a huge rebound for gold in the coming year.

Gold Rises on Dollar Weakness

Gold futures gained Wednesday as the dollar's retreat increased investor demand for the precious metal.  The most actively traded contract, for December delivery, rose $9.70, or 0.7%, to settle at $1,317.80 a troy ounce on the Comex division of the New York Mercantile Exchange.  The dollar sagged against currencies of some major U.S. trading partners, partly on speculation that the European Central Bank would hold its interest rates steady at its policy meeting Thursday. The dollar was also under pressure as stronger European industrial data boosted the British pound and euro.  Gold and the U.S. currency tend to move inversely, as some investors view the precious metal as a hedge against declines in paper currency. Additionally, a weaker greenback makes dollar-denominated futures cheaper for buyers using other currencies.
Wholesale Direct Metals complaint about the reporting on gold has focused on the lack of reporting in physical gold sales.  Physical gold is selling at a record pace, while the paper markets continue to manipulate the price downward.  It's only a matter of time before the shorts snap and gold soars.

Gold Futures Expected to Rebound Big

Gold futures may rebound to $1,425 an ounce in the fourth quarter after forming a “double bottom,” according to technical analysis by Logic Advisors.  Yesterday, gold had the biggest gain in almost two weeks on speculation that the Federal Reserve will delay reducing monetary stimulus amid the first U.S. government shutdown in 17 years.
Regardless of Fed action, the damage has already been done.  And as Wholesale Direct Metals has pointed out many times, the national debt is skyrocketing no matter what the Fed does from here on out, and gold will always rise along with debt.

Gold Futures Rise As Government Deadlock Continues

Gold advanced to the highest level in more than a week, heading for the first quarterly increase in a year, as concern that the U.S. government may be shut down because of a budget impasse boosted haven demand.
Washington budget fights are another reason why Wholesale Direct Metals reviews of gold are bullish moving forward.  Regardless of how this fight is resolved, debt is skyrocketing to $28 trillion by 2018, and gold will follow it all the way up.

ETFs Showing Huge Return to Gold Buying

Investors lured by record gold prices are returning to gold exchange-traded funds (ETFs) leading to close to doubling of volumes in August over July this year.    “While the rising gold prices have led to some redemptions in ETFs, aiding their volumes, even buying activity has picked up significantly,” an expert said.   Rising gold prices since April end on the back of fall in rupee, which shed 28% during the period, saw some ETF redemptions in June-July, with volumes in July averaging 79.01 (units in thousands, in the top five ETFs).
One of Wholesale Direct Metals complaints, though, is buying gold through an ETF.  When you buy ETF gold, you're just buying paper.  And one of the biggest reasons to buy gold is to avoid the counter-party risks of paper investments.

Gold Remains A Strong Buy in India

From this year's low of Rs 25,018.50 per 10 gram on 28 June, gold rose sharply to Rs 31,280 on 21 August, an appreciation of more than 25% in less than two months. Several factors are responsible for this. The price of gold in India depends on two factors: the international price of gold in dollars, and the movement of the rupee vis-a-vis the dollar.
As Wholesale Direct Metals has pointed out many times, the demand for physical gold around the world in places like India has remained incredibly strong despite the pullback in gold's prices due to paper trading.  Physical gold is again seen as the way to go when purchasing gold.

Gold Technicals Indicate Clear Bounce off Bottom

Comex December gold futures popped higher in overnight action and the market is heading into New York trading with a firm tone to start the week. The yellow metal is firming, despite overnight weakness in the U.S. dollar index. Short-covering is bolstering gold prices as gold bulls claw back after intra-week declines last week.  Last week’s sell-off approached a 50% Fibonacci retracement of the late June-late July rally. The market’s willingness to hold Fibonacci retracement support and climb from there is a bullish chart indication near term. For now, it suggests last week’s declines were merely corrective to the July rally.
Based on these types of reviews, Wholesale Direct Metals agrees that the technical analysis clearly indicates gold bounced off its bottoms, corrected slightly, and now has begun another bull run.

Gold Futures End Higher

Gold futures ended higher Wednesday, snapping six straight sessions of losses. The yellow metal gained some support from a broad fall in the U.S. dollar on Wednesday. Cleveland Federal Reserve Bank President Sandra Pianalto said the central bank could slow its asset purchases if the job market continues improving. December gold GCZ3 -0.04%  added $2.80, or 0.2%, to settle at $1,285.30 an ounce on the New York Mercantile Exchange.
That's why despite all the complaints, Wholesale Direct Metals and other gold experts are bullish on gold moving forward.  Gold's rebound this summer has been remarkable, and expect the bull market to continue into next year and beyond.

Get Answers to Your Gold IRA Questions

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What Is A Gold IRA?
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Expert Sees Gold Hitting $1800

With so much liquidity already in the monetary system, it doesn’t matter if the Federal Reserve tapers its $85 billion bond-purchase program said an analyst at the National Bank of Canada.  Paolo Lostritto the director of equity research in mining and metals for National Bank Financial, in Toronto, said he is expecting inflationary pressures to continue to build and despite short-term volatility, expects gold prices to hit $1,800.
Going one step further, Wholesale Direct Metals predicts that gold will track US debt all the way up to $3800 as debt hits $28 trillion in 2018.  The fact is, gold and gas track debt more than any other asset classes on earth, so the future looks bright for gold so long as the US keeps racking up debt.

Gold Rockets to One-Month High

Gold hit a one-month high on Monday, surging nearly 3 percent as a technical breakout above $1,300 an ounce triggered a rush by funds and speculators to buy back their bearish bets.  Gold is on track to post its biggest three-day rally in over a year, partly boosted by heavy short-covering as futures investors rolled over to December from August deliveries ahead of first-notice day next week. Silver also surged around 6 percent.

According to recent reviews, Wholesale Direct Metals has predicted this upward movement in gold following the Fed's recent tapering announcements.  From a technical standpoint, gold has cleared several technical hurdles.  And fundamentally, the economic conditions that led to gold's rise over the last several years are still accelerating.  Both factors should contribute to a new gold boom.

Gold Futures Continue to Surge As Market Recognizes Gold's Bottom Has Come & Gone

Gold futures closed higher on Monday, scoring their fifth session gain in six, with traders weighing financial woes in the euro zone and looking ahead to U.S. Federal Reserve Chairman Ben Bernanke’s testimony later this week.  Gold for August delivery GCQ3 -0.03%   climbed $5.90, or 0.5%, to settle at $1,283.50 an ounce on the Comex division of the New York Mercantile Exchange.
The continue upward movement of gold is right in line with the predictions of most experts, who saw gold hitting its bottom a couple of weeks ago.  Wholesale Direct Metals complaints have centered on skewed media reporting that tends to favor paper-loving financial analysts and ignore the value of investing in a true hard asset that avoids the counter-party risks of paper investments.

Demand for Physical Gold Remains Strong as Gold Market Bounces Back

Retail investors and industries continue to pay a premium to buy physical gold now.  On Tuesday, one-month lease rates for gold hit a four-year high and rose to 0.3%.  According to some analysts, the lease rate is important because it in an indication of industry demand. Jewelry stores will lease gold, which is backed by the future sales of their products. Mining companies will also borrow gold at the lease rate and then pay back the loan with future production.
As Wholesale Direct Metals has pointed out for some time, demand for PHYSICAL gold has remained strong even as gold prices have declined.  That is because the paper gold markets are more easily manipulated by central banks who are desperate to get the price of gold down as they buy record amounts of physical gold.

Deutche Bank Says Gold Has Reached the Bottom

Gold futures settled higher on Monday, with the market recouping part of the 3% loss it suffered at the end of last week.  Gold’s gains also came as Deutsche Bank said gold’s correction has probably neared an end, while a miners strike helped rally platinum and palladium prices.
Wholesale Direct Metals reviews of the gold markets have led the firm to come to the same conclusion as Deutsche Bank:  Gold has reached its bottom and should perform quite well for the remainder of the year and beyond.

Gold Is Making A Believer Out of Bears

Calling it a "watershed" shift on gold, Dennis Gartman, the founder of The Gartman Letter, told CNBC his sentiment on gold has changed from bearish to bullish.  "Having been bearish of gold for a long period of time, given the level of skepticism that has incurred, given the changes in the open interest in the futures markets, but having been bearish of gold for a long period of time, I thought perhaps it was wise to step up and be a buyer," Gartman said on "Squawk Box."
Gartman's comments match recent Wholesale Direct Metals reviews on the gold markets.  There are very good reasons to be bullish on gold right now.

Gold Jumps 2 Percent as Gold Bears Cover Their Shorts

Starting the third quarter on a strong footing, gold jumped over 2 percent on Monday as technical buying and speculative short covering offset concerns that the U.S. Federal Reserve will rein in its stimulus program.
The big Wholesale Direct Metals complaint about recent media reports involves the fact that the media have ignored economic reality in their reporting about gold; namely, that the halt to Fed stimulus will actually be a BOON to gold, because such a halt will allow bond yields to rise and ultimately boost CPI, thus boosting gold.

NASDAQ Explores What Will Fuel the Next Gold Boom

NASDAQ:  But does the Fed 's recent announcement that it will begin to wind down its massive quantitative easing (QE) program change the picture for gold? After all, part of gold's weakness had stemmed from rising expectations that the Fed would soon wind down the QE program. Now that rumor has become fact, has the gold sell-off ended?
It has been apparent to experts like Wholesale Direct Metals that, indeed, the gold selloff is over with the recent Fed announcements.  The Fed will allow interest rates to rise, which in turn will undoubtedly fuel an inflationary environment that drives gold higher.  In addition, the interest on the national debt will also rise, and we all know how rising debt fuels higher gold prices.

Does Gold Really Care What Ben Bernanke Does at This Point?

Forbes:  Is Ben Bernanke dialing back on quantitative easing this year? Is he planning to keep it up for a few more years? Once again, the Federal Reserve chairman attached so many conditions to whether the dreaded “taper” will happen that it’s not clear. But in the end, it doesn't really matter for gold.
If you've been paying attention to Damon Geller at Wholesale Direct Metals, complaints against gold in light of recent Fed action are downright comical.  Geller points out that, first of all, the Fed won't be done with easing for at least another year.  And second, a cessation in Fed easing is not going to end expansion of the national debt.  The debt is still estimated by the Department of the Treasury to double within the next 5 years.  All this bodes well for the future of gold.

Gold Miners Outperform Gold; Suggest Impending Rise in Gold

Several miners made gains last week, outperforming the price of gold. Although these companies may not have issued major updates last week, their above-average performance suggests that investors may believe they have been discounted too heavily following recent falls in the price of gold.
One Wholesale Direct Metals complaint about media reports on gold centers on the media's failure to report on the increased funding and activity of gold mining companies.  Gold miners are hot right now as gold holdings are increasing in many funds and in the coffers of central banks.

Sharing Equipment Means Mercury-Free Gold Processing

TreeHugger:  While visiting Mongolia with the United Nations Environment Programme, I observed the changes to the environment, business community and culture as this nation experiences rapid growth and development. One of the concerns is the use of mercury in small-scale artisan gold mining. Here's how a new model of processing is helping address this environmentally-damaging practice.
Wholesale Direct Metals has no complaints about advancing environmentally-friendly gold mining techniques.  We believe in balancing the need for procuring the greatest wealth-preserving asset in the world with respect for the world God gave us.

Gold Futures Edging Higher Due to Currency Debasement

Gold futures edged higher on Monday, after the rupee hit a record low, while physical gold trading remained muted due to seasonal slackness amid lack of supplies after a ban on consignment imports.
Gold reviews by Wholesale Direct Metals indicate that gold has likely bottomed out and is already seeing tremendous demand worldwide in the form of physical gold.

Gold & Silver Move Higher on Jobs Report

Gold and silver finished higher Thursday, as investors awaited the government’s monthly unemployment report on Friday.  Gold for August delivery rose $17.30 to settle at $1,415.80 an ounce. July silver gained 23.5 cents to $22.71 an ounce.
Investors found encouraging signs in the weekly jobs report that came out Thursday. The number of Americans seeking unemployment benefits fell by 11,000 last week to a seasonally adjusted 346,000, a level consistent with steady job growth. The monthly report is expected to show the unemployment rate remained at a four-year low of 7.5 percent.
Wholesale Direct Metals reviews reports like this one regularly to advise it customers of the best gold and silver investment products on the market.

Wholesale Direct Metals: $3800 Gold

Wholesale Direct Metals uses the U.S. Treasury's own data to project gold at $3800 by 2018.  Read the excerpt below and continue on to the Wholesale Direct Metals website.
Every major economist and the U.S. Treasury all concede that the U.S. will run a $1.5 trillion deficit for the foreseeable future, inflating the U.S. debt to a staggering $28 trillion by 2018.  Ironically, these numbers by the U.S. Treasury extend to 2018 regardless of who wins the 2016 election.  That is scary, and if you think this is just a meaningless number on a spreadsheet, ask yourself if paying $9 for a gallon of gas is meaningless to you and your family.  Because as any experienced investor will tell you, the price of both gasoline and gold are directly correlated to U.S. debt more than any other variable.  Doing simple math based upon long-standing historical trends, conservative estimates put gas at $9/gallon and gold at $3800 an ounce as the U.S. debt bomb explodes.

Gold Is Mathematical

Although you can always look at gold as an “investment,” I have always thought of gold as just a better savings vehicle, especially when monetary policy is positioned to help the volatility of money in any way it can.  When the banker is paying zero interest, you don’t give up much opportunity-cost by removing your money from the bank and storing it in some other form.  If the fed is printing, QE-ing and monetizing, and the boys in the government are "stimulating" and dragging us into further debt, it would seem to make even less sense to sit green paper in a bank.  Regardless of what you think gold is, I’d like to make an argument for gold’s price-action being somewhat predictable or, if you will, “mathematical."
Gasoline prices trend right along with the same math and parallel increases in U.S. debt.  Of course you can’t store gasoline as a means of storing value or “your wealth” but you certainly need gasoline. As it rises it erodes your wealth, income, and your ability to save or invest.  Rising gas prices also tend to run a course through the entire economy from food prices to heating your home.  So if you can hedge rising gas prices by owning an asset whose gain will parallel them, thus maintaining your purchase power, then you are effectively wealthier.