lardoon

I _think_ it has been made impossible by regulations limiting the amount of physical delivery off the COMEX...

Do you think Gordon thought Gold was expensive wwhen he sold his Gold?? On another note I wanted to quote some of Jon Nadler comment today (http://www.kitco.com/ind/nadler/jul082008A.html) mentioning the Hulbert Gold Newsletter Sentiment Index (HGNSI) He seems to have a point (to me anyway) Anybody know how to track this HGNSI and how often it is published? Another point that makes me sceptical of a dramatic and imminent PoG rise is the hanging oil price cool-down which should have a negative effect on Gold... My 2 cents - I think we are still due for some range-bound trading with some more downside risk (but what do I know! )

David Morgan sees signs of short covering in PM stocks Today, Thursday June 5, 2008 I noticed that gold was down on the day and yet gold stocks were up. Silver actually had a rather positive day overall and many silver equities were up two to three percent on the day. Normally, when gold is off even slightly and gold stocks show mild strength it is a result of short covering. In fact this is most likely the cause of today’s price action. Earning season is here and many of the producers have reported very good margins, far superior to what they reported last year during the first quarter. The market is taking a big yawn at this excellent news and we need to comment. It is only a matter of time before Wall Street wakes up to the fact the many of the leading gold and silver companies are making profits. Earnings drive stock prices eventually, so the point is simply that these earnings will not be ignored forever. Some are still of the opinion that the correction is almost over and we can expect to see silver and gold move toward their recent highs in short order. We do not see that taking place and expect at least a three to six month corrective phase to develop. This is the time to build or accumulate stocks you favor. One of the clearest signs that the bottom is complete will be the precious metal mining equities refusing to move down further in spite of the fact the metals themselves may continue to find lower prices. In other words, I fully expect to see the mining stocks form a bottom before the metals themselves. FULL Article: http://www.kitco.com/ind/morgan/jun092008.html

Yes - I noticed that also. I havent run any stats but I regularly watch the Gold/Silver ratio and I find it quite rare to see it go up significantly (from around 53.4 this morning to 52.5 now) in a down day for gold.. yes pls that'd be great...