Gold News: Singapore Report Paves Way for Gold

Every now and then the Singapore Bullion Market Association (code named SBMA) puts together an informative newsletter-slash-magazine titled Crucible. And today, it’s got some interesting gold news. 

It’s typically full of interesting articles about this or that aspect of the gold market, highlighting interesting facets of the complex web the glittery metal has spun. The most recent edition came out yesterday, Issue 6 June 2018.  It features an article on the new settlement system and trading possibilities created by CGSE’s clearing system in Hong Kong.  

The new Quinhai Gold contracts offer standardized ways for end users, traders, and investors to do what they need to do with assurance that all will happen as expected.  Full faith and credit is a phrase we don’t hear much of nowadays outside an Econ 101 classroom, but the concept remains at the base of all equity, option and futures trading.  After all, if people lose faith that contracts will be honored they are very unlikely to show up in the market.  

It’s well worth a few minutes of your time to read the article starting on page 7 of today’s featured “document”, available for a free download here.

http://www.sbma.org.sg/wp-content/uploads/2018/05/crucible6-web.pdf

 Related: Sales of Gold Coins Are Rising Fast. Here’s What This Means for You.

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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