In The News Today

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Utilize your time in a proper way. If you do not have any work, undertake social service. When your feelings are pure, and you utilize your time well to perform noble actions, your life will be sanctified and all work you do will be transformed into worship.
–SSB 2002

Brazil Boosts Gold Reserves to the Highest in More Than 11 Years. Send special note of gratitude to the COMEX.
By Nicholas Larkin – Nov 21, 2012 6:51 AM ET

Brazil raised its gold reserves for a second month in October to the highest level in more than 11 years as emerging nations from Kazakhstan to Russia boosted holdings by more than 40 metric tons.

Brazil’s holdings expanded 17.2 tons last month to 52.5 tons, the most since January 2001, according to data on the International Monetary Fund’s website. The country’s 1.7-ton purchase in September was the first since December 2008. Kazakhstan’s holdings increased 7.5 tons, Russia added 0.4 ton and Turkey’s reserves rose 17.5 tons, the data show. Germany, the second-biggest holder, after the U.S., cut gold holdings by 4.2 tons, the first reduction since June.

Central banks have been expanding reserves as the metal heads for a 12th straight annual gain and investors hold a record amount in bullion-backed exchange-traded products, data compiled by Bloomberg show. Nations bought 373.9 tons in the first nine months of the year and full-year additions will probably be in the “bottom end” of 450 to 500 tons, the London-based World Gold Council estimates.

“This is a chunky purchase by a central bank, and the gold market will likely sit up and pay attention,” Edel Tully, an analyst at UBS AG in London, wrote today in a report, referring to Brazil’s addition. “Today’s news confirms much of the market chatter at the time that official sector buying was taking place and was one of the key factors that gave prices a reasonable floor last month.”

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Jim Sinclair’s Commentary

There is a distinct difference between a truce and a cease fire.

Russia is sending ships to Gaza

Russia fears a worsening of the conflict between Israel and the radical Palestinians. To save the countrymen from the Gaza Strip, deployed warships in the vicinity.

Russia fears an escalation of the conflict between Israel and the Palestinians and has dispatched warships to the Eastern Mediterranean for the possible rescue of fellow countrymen. The missile cruiser "Moskva" and several patrol and landing craft should be ready off the coast of the Gaza Strip, a spokesman for the Navy of the Agency told Ria Nowosti according to.

"With the worsening of the conflict Russians who live there in security must be brought", the Navy spokesman said. Russia calls for a political solution in the Middle East. According to the Ministry of Foreign Affairs currently has approximately 100 Russian tourists and businessmen in the Gaza Strip stay.

There is a truce between Israel and Hamas currently although officially. According to information from Gaza City, Israeli soldiers at the border fence of the Gaza Strip but have shot a man. More 24 Palestinians were injured by Israeli fire on Friday, the spokesman of the Ministry of health in the Mediterranean enclave, Ashraf al-Kedra, said.

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