huntergatherer
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Posts posted by huntergatherer
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Two 'outright' bears have second thoughts on 2014 gold price
February 20, 2014
After a dismal 2013 that saw gold lose 28% in value and suffer the worst price performance in 32 years, few predict a big upswing this year.
The median forecast for the fourth quarter 2014 of the nine gold analysts tracked by Bloomberg is for an average $1,165 an ounce gold price.
And historically the most accurate among them see gold sub-$1,050. Gold averaged $1,411 in 2013.
But gold's fight back this year – the spot price has gained 9.6% so far this year seems to have surprised a number of forecasters.
http://www.mining.com/two-big-bears-have-second-thoughts-on-2014-gold-price-86457/
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Silver price rally will be short-lived.
Thursday , 20 Feb 2014
Silver prices have rallied 12% in February but, according to French bank, Natixis, the rally is likely to be short-lived.
http://www.mineweb.com/mineweb/content/en/mineweb-silver-news?oid=230065&sn=Detail
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Silver May Extend Drop as Bear Market Nears: Technical Analysis
Mar 1, 2013 11:15 AM GMT
The metal slid to $27.975 an ounce in London today, the lowest since Aug. 20. A close at $28.007 would be a 20 percent drop from Oct. 4, the common definition of a bear market. A slide below $28.26 in the next few days would mean the June 2012 trough of about $26.11 would “be back in play,”
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Gold set for biggest weekly loss
Saturday, October 13, 2012
http://www.dailytimes.com.pk/default.asp?page=2012%5C10%5C13%5Cstory_13-10-2012_pg5_23
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Gold seized during inspection of collapsed lender
17.08.2012 11:07
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US probe into bank manipulation of silver markets set to be dropped
Monday 06 August 2012
Big trouble for little silver.
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1000 tonnes of silver could hit market over 90 days
20% or 48 tonnes (1.4 million ounces) of silver recovered so far.
http://news.discovery.com/history/biggest-treasure-yet-hauled-from-shipwreck-120718.html
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'Urban mining' of precious metals now a rich prospect: study
PARIS — "Deposits" of gold in electronic waste are around 50 times richer than ore mined from the ground, according to figures put forward by recycling experts on Friday.
More than 320 tonnes of gold, worth more than $16 billion (13 billion euros), and 7,500 tonnes of silver, worth $5 billion, are used annually in electronic products, the report by the United Nations University and the Global e-Sustainability Initiative (GeSI) said.
It suggested there are around 200 grammes (seven ounces) of gold in a tonne of circuit boards and 300 grammes (10.5 ounces) in a tonne of cellphones, compared with 5 grammes (0.17 ounces) in a tonne of ore.
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Big Move In Gold And Silver Imminent
7/02/2012 @ 12:54PM
A big move in gold and silver is imminent according to traditional technical analysis.
http://www.forbes.com/sites/greatspeculations/2012/07/02/big-move-in-gold-and-silver-imminent/
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Silver’s split personality feeds steep price drop
Metal’s set for biggest quarterly loss in almost four years
June 29, 2012
“Silver had more froth in the price to work off versus other commodities,” after its “’bubble-esk’ run up in 2011, where it almost doubled over the course of three months,” said Elliott Orsillo, co-founder and portfolio manager at Season Investments LLC.
Futures prices for silver (US:SIU2) peaked above $48 an ounce in April of last year. It traded above $37 at their peak this year so far.
But after the September contract closed Thursday at $26.29, silver’s on track for its biggest quarterly loss in almost four years, down 19% quarter to date, according to data from FactSet Research, as of Thursday. That compares with a 7.2% decline in gold futures over the same period.
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Silver Price Could Crash to $18 on Liquidation
Jun 22, 2012 - 07:27 AM
Silver prices meantime sank to a 2012 low at $26.64 an ounce a 7.2% drop on last week's close.
"We believe a break of $26.00 has the ability to trigger liquidation of silver with it looking for $18.00," says the latest technical analysis note from bullion bank Scotia Mocatta.
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Is Silver Currently Riskier Than Gold?
Jun 15, 2012 2:45 pm
The worst case scenario means silver between $13-$15.
In the silver to gold ratio chart, we continue to see a clear confirmation of the breakdown below the long-term support line. Simply put, the outlook here is bearish.
Summing up: Even though the fundamental picture for silver and the long-term case are bullish, the technical situation for silver is quite bearish at this time and its medium-term picture is more bearish than gold’s.
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In a related note, getting quotes/work done to the house. Some of the quotes are unbelievable.
It would seem the tradesmen associated with housing are not feeling the pinch yet.
If I lose my job (not insignificant odds) i might consider becoming a chippy/painter and decorator to make my fortune...
Greedy trades people add to mainly bankers, ratings agencies, governments plus others who created the financial crisis.
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Prospectors ready to tap Haiti’s buried gold
9:24 am | Saturday, May 12th, 2012
TROU DU NORD, Haiti —Its capital is blighted with earthquake rubble. Its countryside is shorn of trees, chopped down for fuel. And yet, Haiti’s land may hold the key to relieving centuries of poverty, disaster and disease: There is gold hidden in its hills — and silver and copper, too.
A flurry of exploratory drilling in the past year has found precious metals worth potentially $20 billion deep below the tropical ridges in the country’s northeastern mountains. Now, a mining company is drilling around the clock to determine how to get those metals out.
In neighboring Dominican Republic, workers are poised to start mining the other side of this seam later this year in one of the world’s largest gold deposits: 23 million ounces worth about $40 billion.
Geologists extrapolating from depth and strike reports estimate at least 1 million ounces of gold at two sites. In April, prospectors found the first significant silver ever reported in Haiti: between 20 million and 30 million ounces. And in the end, it may be copper that is the most lucrative: geologists suspect that more than 1 million tons lay in just one of many areas under exploration.
Gold was last gathered in Haiti in the 1500s, after Christopher Columbus ran the Santa Maria onto a Haitian reef. Spaniards enslaved the Arawak Indians to dig for gold, killing them off with harsh conditions and infectious diseases. When the Spaniards learned of even more lucrative deposits in Mexico, they moved on.
In the 1970s, United Nations geologists documented significant pockets of gold and copper, but foreigners weren’t willing to risk their cash in a country where corruption and instability has long discouraged outside investment.
Ironically, it was only after the catastrophic 2010 earthquake that investors saw real opportunity. Fifteen days after a seismic jolt brought down much of Port-au- Prince, a Canadian exploration firm acquired all of the shares of the only Haitian firm holding full permits for a promising chunk of land in the northeast.
“Investors want to get in at the bottom,” said Dan Hachey, president of Majescor Resources, the Canadian company, “and I figured after that earthquake, Haiti was as low as it could get.”
http://newsinfo.inquirer.net/192175/prospectors-ready-to-tap-haitis-buried-gold
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Gold falls below long term trend line support
May 8, 2012 at 14:37 GMT
The next support comes in at $1585.50 area where the bottom channel support line is found.
http://www.forexlive.com/blog/2012/05/08/gold-falls-below-long-term-trend-line-support/
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Silver lady Kate parties til dawn without losing her shine
Fri, 04 May 2012
http://www.thesun.co.uk/sol/homepage/showbiz/4297798/Kate-Moss-parties-until-7am-at-the-Groucho.html
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Comex silver stocks hit highest in at least 10 years
Silver stockpiles in Comex-monitored warehouses rose to their highest level in at least 10 years, showing near-term supply of the metal is plentiful as mine output holds at record levels and the global economic recovery struggles for traction.
http://www.reuters.com/article/2012/04/16/precious-silver-stocks-idUSL2E8FGHUI20120416
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Silver is primed for a comeback
Posted 4/9/2012 6:00 AM
The U.S.monetary authorities will soon be ending their latest stimulus measure, Operation Twist , but investors have been expecting sluggish GDP growth and obstinate unemployment rate to drive further dollar-debasing measures.
Friday's weak non-farm payrolls report may lead to a rebound in expectations and a comeback for silver prices.
The return of the fear trade from a re-escalation of E.U. debt problems and heightened expectations of further easing by the Fed may drive silver prices over the next few months.
Further stimulus measures out of China, expected sometime in the second quarter, will also act to drive silver prices upward.
Gold has taken the spotlight over the last few years as inflation protection and a hedge on global economic uncertainty - but silver also fulfills that role.
http://community.nasdaq.com/News/2012-04/silver-is-primed-for-a-comeback.aspx?storyid=132337
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Bottoms Are Nearing
I’d expect a move to the strong support level in silver near $30 and hopefully a washout spike below that.
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Silver Channels Lower During 40% Downtrend
March 21, 2012 - 3:32AM
Silver has moved over 40% lower from its 2011 high. Prices falling off of channel resistance gives traders the opportunity to join the move.
A price channel has emerged with a fresh test of resistance at $37.48 on February 29th. We can see price being contained by support and resistance as it continues its trajectory lower. As price trades under the main trend line we will keep a bearish trend bias on silver and look for selling opportunities.
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Silver's False Bullish Breaks Head Fake Technicians
Friday March 16, 2012 15:42
Interestingly, that temporary spike in silver was accompanied by at least three important bullish technical breakouts that subsequently turned out to be false signals:-
1. False Break of Declining Trendline
2. False Break of 200-day Moving Average
3. False Break of Double Bottom Neckline
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Still waiting for a bottom. Itching to buy though.
Don't wait too long. $1200, $900, $600, $300 long since gone.
GOLD
in Gold, FX, Stocks / Diaries & Blogs
Posted
February 21, 2014
Long positions – bets that the price will go up – held by so-called managed money increased by 8% to 140,840 lots in the week to February 18 according to Commodity Futures Trading Commission data released after the close of business on Friday.
At the same time short positions were cut by 10,603 to just under 50,000, which translates on a net basis hedge funds holding 31% more bullish positions: net longs of 90,942 lots or 9.1 million ounces.
Net longs jumped 17% in the week to February 11, CFTC data showed. Net longs fell to a paltry 26,700 lots in early December when shorts held by large investors peaked at more than 80,000 lots.
That was the highest number of short positions since 2007, back when gold changed hands for $700 an ounce.
http://www.mining.com/gold-price-hedge-funds-add-30-to-bullish-bets-81200/