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Over the long term, I am watching how central banks are reacting in order to assess the gold market. I believe they will be a major force driving the yellow metal prices higher.
You see, those who have the yellow metal stored in their reserves aren’t selling it.
Consider the Central Bank Gold Agreement (CBGA) signed by the European Central Bank (ECB) and 20 other European central banks. They signed an agreement that limits them on how much gold they can collectively sell—so they don’t impact the gold market. These central banks roughly hold 35,500 tons of the yellow metal—that’s one-fifth of all the gold being mined. (Source: World Gold Council, last accessed May 5, 2015.)
This agreement has been signed four times; first the CBGA was signed in 1999, when the central banks limited themselves to selling about 400 to 500 tons each year, under each agreement.
With this, one must ask: how much are they selling? The answer is surprising.
They were selling their gold fairly close to the limit, but in 2009, it all changed. Please look at the table below. It shows how much gold was sold under the CBGA since 2009. The values are written as how much was sold over the limit amount.
Continue Reading .. Look at Central Banks to See Where the Gold Market’s Headed
On April 14, 2015, Shopify Inc., an e-commerce software provider founded in 2006, revealed its intentions to go public. The Shopify initial public offering (IPO) is expected to raise $100 million and list the company’s stock under the ticker symbol “SHOP” on the New York Stock Exchange (NYSE).
The Shopify IPO, in the $15.00-per-share range, values the company at $1 billion. Given the stiff competition from established industry players, should investors buy in?
What differentiates Shopify is that it combines all parts of an online merchant account, including a shopping cart and payment gateway, into one easy-to-use solution. Setting up an online storefront has never been easier. But Shopify isn’t the only e-commerce platform and software provider in town.
Lots of names come to mind: e-commerce software provided by Square Inc., Etsy Inc.(NASDAQ/ETSY), Amazon.com Inc. (NASDAQ/AMZN), eBay Inc. (NASDAQ/EBAY), e-commerce software from Wix.com Ltd. (NASDAQ/WIX), e-commerce services provided by GoDaddy Inc.(NYSE/GDDY), and even the retail platform of Alibaba Group Holding Limited (NYSE/BABA) for internationally focused merchants.
Continue Reading .. Shopify IPO: What the IPO Valuation Tells Investors
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