Former Fed Gov Meyer - Obama Fired Bernanke on Charlie Rose Show!

“This is really remarkable. I almost fell off my chair when I heard the president’s remarks last night. He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterwards. So it’s time to really now focus on who the next chairman might be,” – Laurence Meyer, former Fed governor and CNBC guest in the video clip below.

Meyer was reacting to the Charlie Rose interview from June 18 on CBS. 

Video Source:  CNBC 

http://video.cnbc.com/gallery/?video=3000176791

GGR comment:  Weakest interview yet for the Prez in our opinion.  Not very confidence inspiring.  Good job by Charlie though – to help the president keep from looking even worse.   

Special Got Gold Report - Large Trader Positioning in Silver Futures

HOUSTON – As a courtesy to our blog readership and the general public we are releasing an excerpt of our recent special report to Got Gold Report Subscribers on the positioning of large traders in silver futures.  GGR Subscribers received the report via email and on the private GGR welcome page on Sunday, June 16. 

This report documents the stunning positioning of the largest, best funded and presumably the best informed traders of gold and silver futures – the traders the Commodity Futures Trading Commission (CFTC) classes as “commercial,” including some of the bullion banks many of those traders end up trading through. (More...)

GGR Presentation, Remarks on Silver

HOUSTON –  Vultures (Got Gold Report Subscribers) please log in and navigate to the Got Gold Reports section of the Subscriber Welcome Page to view a new special Got Gold Report update dated Monday, June 17, 2013.

This update contains our prepared remarks and charts for a presentation on the topic of the silver market, including important technical considerations, large trader positioning in the Commodity Futures Trading Commission (CFTC) commitments of traders (COT) reports – including positioning not seen for at least 20 years – as well as our own view of the long term trends and possibilities for investors in physical silver metal.

The presentation asks:  What if silver is currently involved in the Mother of all Mid-Point Consolidations?      

To subscribe to Got Gold Report please click on the “Subscribe to GGR” button, above right and thank you for doing so.

Comstock Metals Featured in a Recent Gold Report

Comstock Metals' was recently discussed in an interview with Brien Lundin, editor of Gold Newsletter, and The Gold Report (June 12, 2013). To read the full interview, please clickhere or see below for an extract from the interview.

The Gold Report: You also watch companies in the Yukon.  The latest Yukon gold rush, which started in 2009, brought high expectations that haven't been fulfilled. Can you give us an update? Are there some exploration opportunities that have stood the test of time?

Brien Lundin: When the Yukon erupted with Underworld Resources Inc.'s Golden Saddle discovery, Gold Newsletter was the only publication to recommend Underworld, and we did it before that discovery. It turned out to be a very profitable experience for our readers. Along with a couple of other projects, Golden Saddle really ignited a gold rush in the Yukon.

Along the way, there were some speed bumps. People didn't realize how long it takes to develop prospects and get them to drill-ready status. In that environment, the shortened drill season affects project speed—you can only explore one season a year. As a result, development has taken longer, and it is much more difficult than people had imagined. When you combine the slow project progress
in the Yukon with the correction in the junior market, the net result is that some companies that have already made discoveries are selling for fractions of what their ultimate worth will be.

Biderman – Global Currency Debasement means Gold to Stay in Trim Tabs Model Portfolio

Trim Tabs founder and CEO Charles Biderman says the yo-yo like volatility of stock and bond prices is directly connected to central banks' money printing and its heroin-like properties with investors.  Specifically the fear of stimulus withdrawal.  

“Investors globally have become addicted to newly created free money ever since (2009). Therefore when Federal Reserve chairman Ben Bernanke intimated on May 22, that the free money will “taper,” the markets have been acting similarly to how heroin addicts would respond if they knew that their drug would not be available soon,” Biderman begins. 

The float shrink guru then turns to recently rising interest rates. (More, video below.)

GGR – Silver COT Update Posted for Subscribers

HOUSTON –  Vultures (Got Gold Report Subscribers) please log in and navigate to the Got Gold Reports section of the Subscriber Welcome Page to view a new special Got Gold Report update from today, Sunday, June 16, 2013.

We update our reporting on the positioning of the largest traders in silver futures and detail important changes in the Commodity Futures Trading Commission (CFTC) commitments of traders (COT) reports – including positioning not seen for at least 20 years.   

To subscribe to Got Gold Report please click on the “Subscribe to GGR” button, above right and thank you for doing so.

Free Online Video Event - Gold: Dead Cat or Raging Bull?

Join an exclusive, free online event: "GOLD:Dead Cat or Raging Bull?" featuring: Eric Sprott, Founder and Chairman of Sprott Inc. Jim Cramer, host of CNBC's Mad Money and chairman of TheStreet.com Steven Feldman, co-founder and CEO, Gold Bullion International Rob McEwen, Chairman and CEO McEwen Mining Inc. Doug Casey, Chairman of Casey Research Jeff Clark, Senior Editor of Big Gold Free Online Video Event: Tuesday, June 25, 2013, 2:00 pm ET  REGISTER NOW

These experts will go beyond the headlines and reveal what their sources say is really going on with gold: Is gold likely to drop further or make an aggressive comeback in the near future? How should investors prepare themselves? Why is there such an intense demand for physical gold, despite the fact that the major gold ETFs have been crashing? Should you own gold assets, and if so, which ones? Are ETFs, gold stocks, or mutual funds still safe to buy? Why have gold stocks been absolutely slaughtered compared to physical gold? The surprising reasons why mining stocks are (literally) cheaper than dirt... What will be the "grand finale" of the current market and economic situation? How is it all going to play out?

By the Numbers for the Week Ending June 14

This week’s closing table is just below.  

Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week’s technical changes, should be completed by the usual time on Sunday (by 18:00 ET).      

(End )

Powell to Gartman - 'Thanks for the Compliment'

GATAs Chris Powell writes: Commodity letter writer Dennis Gartman (http://www.thegartmanletter.com/) today acknowledges that the gold market well may be manipulated by governments but asserts that he doesnt care. He also completely misconstrues GATAs position and urges us to give up on the manipulation issue. Gartman writes: Concerning gold, weve angered the bugs once again by selling gold against purchases of crude oil and equities, fearing that gold looked vulnerable and noting that the gold/crude oil ratio looked

Former Fed Gov Meyer - Obama Fired Bernanke on Charlie Rose Show!

“This is really remarkable. I almost fell off my chair when I heard the president’s remarks last night. He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterwards. So it’s time to really now focus on who the next chairman might be,” – Laurence Meyer, former Fed governor and CNBC guest in the video clip below. Meyer was reacting to the Charlie Rose interview from June 18 on CBS. Video Source:

If Bernanke really shakes tree, half the world may fall out

The following is brought to us by our friends at GATA: Ambrose Evans-Pritchard, The Telegraph, London writes:We no longer have a free market. The worlds financial asset prices have become aplaything of central banks and the sovereign wealth funds of a few emergingpowers. Julian Callow from Barclays says they are buying $1.8 trillion worth of AAA orsafe-haven bonds each year from an available pool of $2 trillion. Nothing likethis has been seen before in modern times, if

Free Video Event - Gold Dead Cat or Raging Bull?

Tuesday, June 25, 2013, 2:00 p.m. Eastern In April of this year, we saw one of the most violent moves ever in the history of paper gold. Despite weakness in gold prices, demand for physical gold is running at all-time highs. Case in point: on April 17 the US Mint reported its biggest single day for sales of its gold coins in history. To explore this perplexing disparity between the falling price of gold and record physical

Comstock Metals Featured in a Recent Gold Report

Comstock Metals was recently discussed in an interview with Brien Lundin, editor of Gold Newsletter, and The Gold Report (June 12, 2013). To read the full interview, please clickhere or see below for an extract from the interview. The Gold Report: You also watch companies in the Yukon. The latest Yukon gold rush, which started in 2009, brought high expectations that havent been fulfilled. Can you give us an update? Are there some exploration opportunities that have

True Gold reports results of AGM voting

VANCOUVER, B.C. – True Gold Mining Inc. (TSX-V; TGM) (“True Gold” or the “Company”) is pleased to announce the results of voting at its Annual General Meeting of Shareholders (“AGM”) held Monday, June 17, in Vancouver, Canada. Shareholders voted in favour of all items put forward by the Board of Directors and management. All eight individuals nominated for the board of directors – Dr. Mark O’Dea, Dwayne Melrose, Michael McInnis, Richard Bailes, Donald McInnes, Nolan Watson, Robert

Biderman – Global Currency Debasement means Gold to Stay in Trim Tabs Model Portfolio

Trim Tabs founder and CEO Charles Biderman says the yo-yo like volatility of stock and bond prices is directly connected to central banks money printing and its heroin-like properties with investors. Specifically the fear of stimulus withdrawal. “Investors globally have become addicted to newly created free money ever since (2009). Therefore when Federal Reserve chairman Ben Bernanke intimated on May 22, that the free money will “taper,” the markets have been acting similarly to how heroin addicts

Gurwitz – Gold Nearing a Multi-Cycle Bottom

Mike Norman sat down with David Gurwitz, managing director of the cycle gurus at Charles Nenner Research on May 24. The Nenner method relies on the study of cycles and the sine waves they create in charts. Gurwitz sees gold as “very near a cycle bottom,” the falling price of copper as evidence of a “not so good economy” and large cap equities currently topping. Gurwitz sees the Dow losing 60% of its value before the next

On This Day in 1933

Christopher Westley , The Circle Bastiat, Reflections on Austrian economics and the science of liberty, writes: You were considered a hoarder and a slacker if you still resisted turning over your gold to the government. From the New York Times, June 13, 1933: (Click on the image for a sharper picture.) Roosevelt had only been in office for 101 days and while there was broad bipartisan support for inflationary policies in Congress, it’s safe to say that

Kaminak Drilling Confirms High Potential at Connector Zone and Extends Supremo T2 Zone 750 metres Along Strike to Join with Latte

Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced results for 37 drill holes from the ongoing 2013 drilling campaign at the Coffee Gold Project, Yukon Territory. Drilling successfully intersected gold mineralization in 32 out of the 37 drill holes and identified new, shallow, predominately oxidized gold-bearing structures within the Supremo-Latte area which is host to the majority of the 3.2Moz NI 43-101 Inferred Mineral Resource Estimate consisting of 64 million tonnes grading at 1.56 grams

Free Online Video Event - Gold: Dead Cat or Raging Bull?

Join an exclusive, free online event: GOLD:Dead Cat or Raging Bull? featuring: Eric Sprott, Founder and Chairman of Sprott Inc. Jim Cramer, host of CNBCs Mad Money and chairman ofTheStreet.com Steven Feldman, co-founder and CEO, Gold Bullion International Rob McEwen, Chairman and CEO McEwen Mining Inc. Doug Casey, Chairman of Casey Research Jeff Clark,Senior Editor of Big Gold FreeOnline Video Event: Tuesday, June 25, 2013, 2:00 pm ET REGISTER NOW These experts will go beyond the headlines

Bud Conrad - JP Morgan COMEX Gold Stocks in Deficit?

GGR comment: The subject of the piece below has been over sensationalized by some observers on the Web, but we thought Bud Conrads account below fairly even handed, well researched and worthy of sharing.

GGR Chart of the Week

GGR Chart of the Week (XAU monthly) The Philly Gold and Silver Index (XAU) has strongly oversold gold. As of May we argue the XAU had discounted the gold price back to 2003 levels, or an equivalent gold price between $400 and $500 the ounce. Gold is currently trading more than $900 higher than that, of course. More...

Strangulation by Regulation

An Open Letter to the Canadian Mining and Mineral Exploration Industries from Joe Martin, Chairman – Cambridge House International Inc. Can the Junior Companies listed on Canadian exchanges survive this “Double Whammy?” Venture companies listed on the Toronto Venture Exchange are facing a “Double Whammy”, something that the industry has never faced before. Current market conditions have made it almost impossible to raise capital. Regulations being imposed on raising venture capital in Canada may well make it

Yardeni - QE Goes from Win-Win to Lose-Lose

Dr. Ed Yardeni, President and Chief Investment Strategist of Yardeni Research, Inc. wrote on June 5: First, lets note that when the Nikkei and the DJIA are put on the same chart with the same scale and the same timeline starting in 2009, they tracked each other very closely during the first year of both their bull markets from March 2009 to April 2010.The Nikkei bottomed at 7054 on March 10, 2009. The DJIA bottomed at 6547

U.S. Mint June Silver Coin Sales At 4,651,429 Ounces – Record 2013 Likely

Mark O’Byrne writes: Silver continues to perform very poorly and is down 28% year to date to make it one of the worst performing commodities in the world and on track for its worst performance since 1984. At the end of 2012, investors expected silver to be one of the biggest gainers in 2013, expecting a 33% return, a Bloomberg survey showed. Analysts expected silver to surge because either turmoil would boost demand for precious metals as

GoldQuest Reports 28.5 m Grading 10.1 g/t Gold (Uncut) at La Escandalosa from In-Fill Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 13, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) (GoldQuest or the Company) announces assay results from three in-fill drill holes at La Escandalosa on the Companys 100% owned Las Tres Palmas trend in the Dominican Republic.

More evidence that Thomson Reuters data may be leaking out earlier than it’s meant to

Simone Foxman writes: High-frequency traders have a distinct advantage in the way Thomson Reuters distributes its University of Michigan Consumer Sentiment Index, a monthly report compiled by Thomson Reuters and the university.In court documents filed last week, the data provider revealed that it distributes data to “‘ultra-low latency’ subscribers” at 9:54:58 AM ET. That’s a full two seconds before most of its subscribers get access to the data at 9:55:00. Non-subscribers are supposed to get access to

Xtra-Gold Reports Trench and Channel Sampling Results From Zone 5 Gold Corridor and Initial IP Ground-Proofing Results of High Priority Gold Targets

TORONTO, June 12, 2013 (GLOBE NEWSWIRE) -- Xtra-Gold Resources Corp. (Xtra-Gold or the Company) (TSX:XTG) (OTCBB:XTGRF), is very pleased to announce additional trench and channel sampling results from the Zone 5 Gold Corridor, as well as initial ground-proofing results of high priority gold targets recently defined by the Induced Polarization / Resistivity survey (IP Survey), on the Companys wholly-owned Kibi Gold Project, located in the Kibi – Winneba greenstone belt (the Kibi Gold Belt), in Ghana, West

This Tiny Nation Could Be a Gold Trading Hub

Catering to the Gold Bugs Mark Smallwood, Head of Wealth Planning at Deutsche Asset Wealth Management, APAC, describes the demand for services at its recently-launched gold vault in Singapore. The tiny Southeast Asian city-state Singapore has transformed itself into one of the worlds top financial hubs and has now set its sights on turning the wealthy island into a gold bullion center.

"The Individual vs. The Collective"

Interview with an extraordinary filmmaker and author, whose best-known for his book on the American Monetary system, which ranks in the top 50 non-fiction books on Amazon. G. Edward Griffin will share his wisdom, and summarize his experience, from more than 40 years of research, focusing on the struggle of the Individual vs. the Collective.

CONSTANTINE COMMENCES DRILLING ON THE PALMER VMS PROJECT, ALASKA $3.0 MILLION BUDGET FOR 2013

Vancouver, BC – Constantine Metal Resources Ltd. (TSX Venture – CEM) (Constantine or the Company) is pleased to announce it has commenced a 4000 meter drilling program on its Palmer VMS Project, Alaska (“Palmer” or “Project”). The drill program is part of a $3.0 million budget for 2013 that includes a cash payment of $500,000, funded by Dowa Metals Mining Co., Ltd. of Japan (“Dowa”).

Banks Rig $4.7 Trillion A Day Currency Markets To Profit Off Clients

Mark O’Byrne, GoldCore writes: Gold prices are mixed today and while flat in US dollars are lower in Aussie dollars and higher in Japanese yen which has taken another pummelling on foreign exchange markets. The world’s biggest banks have been manipulating benchmark foreign-exchange rates used to set the value of trillions of dollars of investments, according to a Bloomberg investigation.

Platinum: ETF Demand Points to a Price Increase

David Franklin and David Baker, Sprotts Thoughts write: Despite a seemingly slam-dunk supply/demand imbalance, platinums spot price has bounced around in a trading range between $1,400/oz and $1,730/oz. More recently it has come back down to test the bottom end of that range, but current developments in the ETF space suggest that the platinum price may be set to improve significantly in the coming months.

Endeavour Silver Drill Program Continues to Intersect High Grade Silver-Gold Mineralization on the San Sebastian Property in Jalisco State, Mexico

Vancouver, Canada – June 11, 2013 - Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling on the San Sebastian property in Jalisco State, Mexico continues to intersect high grade silver-gold mineralization over thick intervals along a 900 metre (m) long by 300 m deep portion of the more than three kilometre (km) long Terronera vein, still open for expansion.

Precipitate Advances to Final Stages of Concession Application Process in Dominican Republic; Next Phase Exploration Planning Underway

Vancouver, B.C. - June 11, 2013 - Precipitate Gold Corp. (the Company or Precipitate) (TSXV: PRG) is pleased to announce it has advanced to an important stage in the process to attain its concession grant for the Juan de Herrera concession application in the Tireo belt of the Dominican Republic.

Pretium Resources Inc.: Positive Feasibility Study Completed for Brucejack High-Grade Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 11, 2013) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (Pretivm) is pleased to announce a positive National Instrument 43-101-compliant Feasibility Study for the high-grade gold and silver resources identified to date at its 100%-owned Brucejack Project (Brucejack or the Project) in northern British Columbia.

Latest GGR Video to be Published in the Public Domain Soon

HOUSTON -- One of our esteemed colleagues, a close friend we have a great deal of respect for, has requested that we publish our latest Got Gold Report video update on the June 7 CFTC commitments of traders (COT) report for gold in the public domain. Got Gold Report subscribers received the first cut of new report Sunday evening.

Rickards - Roubini Doesn't Understand Gold

Kitcos Daniela Cambone talks with Jim Rickards, author of Currency Wars, The Making of the Next Global Crisis, about Nouiel Roubinis recent call for gold to fall to $1,000 an ounce in this brief, but worthy video interview. Rickards and Cambone do a point-counterpoint review of Roubinis 6-point market call after Rickards notes that Roubini has consistently gotten the gold story wrong. If you go back and google Roubinis comments from 2009 and you will see that

Brian Booth's Weekly Gold Report June 10, 2013

Last week provided some decent volatility in major marketsacross the board. Currencies were on the front burner after Europe kept ratesunchanged at the ECB monthly policy meeting, and the United States Non FarmPayrolls closed out the week with somewhat of a lame number. While more jobswere created than expected, the unemployment rate did rise by a tenth of apercent.