Errol

http://www.tfmetalsreport.com/blog/1060/more-charts

Bank of Russia speeds up gold purchases - http://cnbusinessnews.com/bank-of-russia-speeds-up-gold-purchases/

Greeks Turn Savings To Gold And Perth Mint Silver Coin Sales Surge To Record On Safe Haven Demand http://www.zerohedge.com/article/greeks-turn-savings-gold-and-perth-mint-silver-coin-sales-surge-record-safe-haven-demand

Is Gold Flying Under the Radar? - http://expectedreturnsblog.com/is-gold-flying-under-the-radar/

Indian Gold And Silver Imports Surge By Stunning 500% In May http://www.zerohedge.com/article/indian-gold-and-silver-imports-surge-stunning-500-may

New high for gold today in British pounds.

It's the conflict dollars I'm worried about. How can we stop them?

http://expectedreturnsblog.com/the-future-gold-price/ - The Future Gold Price. I like this blog. A good read and not just about gold, despite the name.

Gold Rises To Record £950.81 British Pounds An Ounce - http://www.zerohedge.com/article/sterling-and-euro-fall-economic-concerns-gold-rises-record-%C2%A395081-british-pounds-ounce

Russia working towards some kind of gold-backed rouble ... http://www.zerohedge.com/article/about-gold-backed-russian-roubles-and-eurobonds%E2%80%A6

Pushing for a return to the gold standard - http://www.latimes.com/la-fi-gold-standard-20110603,0,7289166.story The idea to make the precious metal legal tender has gained currency in more than a dozen state capitals, aided by Tea Party support and other efforts to rein in federal power.

Rob McEwen - Once $3,000 Falls Gold will Launch Like a Rocket - http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/27_Rob_McEwen_-_Once_$3,000_Falls_Gold_will_Launch_Like_a_Rocket.html

Stephen Leeb - Silver Should Be $150 Today http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/26_Stephen_Leeb_-_Silver_Should_Be_%24150_Today.html

One thing is for certain, the current trend simply CANNOT continue as the stocks of available silver in the COMEX warehouses continue to plummet http://maxkeiser.com/2011/05/23/one-thing-is-for-certain-the-current-trend-simply-cannot-continue-as-the-stocks-of-available-silver-in-the-comex-warehouses-continue-to-plummet/

Gold demand grew 11 percent to 981.3 tons during the first quarter of 2011, worth $43.7 billion at quarter-end’s price levels http://maxkeiser.com/2011/05/21/gold-demand-grew-11-percent-to-981-3-tons-during-the-first-quarter-of-2011-worth-43-7-billion-at-quarter-end%E2%80%99s-price-levels/

1 Kilo Gold Futures Start Trading On Hong Kong Merc http://www.zerohedge.com/article/1-kilo-gold-futures-start-trading-hong-kong-merc Lets see now how the Comex hikes its gold margins with impunity if it has competition that keeps margins "artificially" low, and provides disgruntled Comex clients with an alternative venue that accepts far less cash collateral to trade.

One of the most respected global technical and macro strategists in the world, Robin Griffiths has said that silver and gold could rise to $450 and $12,000 per ounce respectively due to the debasement of paper currencies. Griffiths was chief technical strategist with HSBC for over 20 years, has 44 years investment experience and now works for Cazenove Capital, one of the oldest investment houses in the world tracing its origins back to the 17th century. It manages money on behalf of blue blooded clients and is widely believed to manage some of the British Royal family’s wealth. When asked by King World News if his $350 target was a realistic price level for silver Griffiths stated, “That is absolutely not unrealistic. If you adjust the old all-time high for inflation...that gives you $450 for silver. Then you add in the fact that they are printing money, you can take it higher than that without any difficulty at all.” http://www.goldcore.com/goldcore_blog/silver-surge-450oz-and-gold-12000oz-%E2%80%93-cazenove%E2%80%99s-robin-griffiths

Eric Sprott making headlines in Vegas: * SPROTT SAYS GOLD IS NOW THE WORLD'S RESERVE CURRENCY * SPROTT SAYS SILVER WAS `MANIPULATED' DOWN IN PRICE * SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS * SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD http://www.zerohedge.com/article/eric-sprott-says-gold-now-worlds-reserve-currency-says-silver-was-manipulated-lower

Central Banks Purchase 127 Tons Of Gold In Q1 http://www.zerohedge.com/article/central-banks-purchase-127-tons-gold-q1

Sprott loads cannon against Wall St. scum; new product set to acquire HUGE quantity of physical silver http://maxkeiser.com/2011/05/09/sprott-loads-the-cannon-against-wall-st-scum-new-product-set-to-buy-huge-quantity-of-physical-silver/ I interviewed Eric Sprott today for Thursday’s “Keiser Report.” He goes into some detail about this new offering.

Hong Kong Mercantile Exchange's 1 Kilo Gold Contract To End Comex Gold Futures Trading (And "Bang The Close") Monopoly The Hong Kong Mercantile Exchange (HKMEx) has received authorisation from the Securities and Futures Commission and will make its trading debut on May 18, 2011 with the 1-kilo gold futures contract offered in US dollars with physical delivery in Hong Kong. http://www.zerohedge.com/article/hong-kong-mercantile-exchanges-1-kilo-gold-contract-end-comex-gold-futures-trading-and-bang-

http://maxkeiser.com/2011/05/08/rick-rule-im-buying-silver/ Rick Rule: “I’m buying silver” - (Rick Rule: Founder of Global Resource Investments LP (GRIL) - Rick is known as one of the most “street-smart” people in the natural resource sector and gold world with nearly 40 years of experience. Global is involved in securities brokerage investment management, corporate finance focussed on natural resources and basic industries. Rick / Global Resource Investments LP (GRIL) are also successfully involved in agriculture, alternative energy, conventional energy, forestry, infrastructure, mining and water resources investing on a world wide basis. GRIL manages over a billion and through recent acquisition is now part of the $9 billion Sprott Asset Management.)

"The extreme volatility seen in the price of silver—exacerbated by tightened margin requirements—and the la large swings in the price of gold, price of oil and in certain U.S. dollar exchange rates, do not in any way change the long-term outlooks for the U.S. dollar or for the long-term hedges against a collapse in U.S. dollar purchasing power. The current markets leave open the potential for near-term jawboning (official or through market intermediaries) and government intervention (overt or covert) to encourage relative U.S. dollar strength. Despite whatever volatility there may be, the U.S. dollar remains on track for an eventual complete collapse in a hyperinflation, and the roots of that hyperinflation remain embedded in the system. The primary hedge against losing U.S. dollar purchasing power remains physical gold (and silver), with some funds outside the U.S. dollar. As discussed in the Hyperinflation Special Report (2011), I still like the Swiss franc, Canadian dollar and Australian dollar." John Williams, 6 May 2011

Ultimately, as people carry on buying physical (silver/gold) the price of paper and physical will disconnect.

Selling paper or real metal? Also, for all the fanfare and excitement over the drop, the price of gold in Pounds has apparently only gone down by about 20 quid. Great. So still effectively no cheaper than it was before (at least not by an amount that makes any difference!).