From Cayman With Love – Weekly Roundup Issue 18

If it is any consolation, I didn’t get to enjoy the sun of the Cayman Islands but did get to chat with some great people. We branched out and spoke about uranium and natural gas with some of the keynote speakers. We also spoke with our guests about whether Russia and Europe are buying more gold; if the Swiss will vote ‘yes’ in its gold referendum and what are the chances of QE4. These were just some of the subjects we tackled with keynote speakers Peter Schiff, Robert Ringer, Adrian Day and many others.

We highlight the interview with Peter Schiff, Euro Pacific Capital CEO as one of our editor’s picks. He says the U.S. recovery isn’t real and adds that the dollar is only strong because all other currencies are weak. “I think people are worried about the yen, about the euro so the dollar wins by default…It’s only becaus the euphoric effects of our last round of QE haven’t worn off yet.” He also stressed, “I think when this decline is over…I think gold is going to take a rocket ship back up.”

After a week of short bursts of momentum, gold futures prices are moderately higher this Friday, boosted on a surprise interest rate cut in China and by more dovish comments from the European Central Bank. As of 1:35 p.m. EST, spot gold on Kitco.com was quoted at $1,198.70 an ounce.

In other news, following in the footsteps of Germany, now the Dutch want their gold back. The Dutch Central Bank says it has recently shipped 122.5 tons of gold worth around 4 billion euros ($5 billion) from safekeeping in New York back to its headquarters in Amsterdam.

Finally, don’t forget to follow the Swiss gold referendum next week, many analysts think it could be a game changer.