avid tea drinker

Slowing physical demand my ****.....

 

MUHAHAHAHHAHAHAHHAHAHHAHAHAHA

 

http://www.gata.org/node/6489

 

The U.S. Mint has suspended sales of American eagle gold coins and is refusing orders from dealers, two coin and bullion dealers confirmed Thursday.

 

The mint's suspension of gold coin sales follows its tight rationing of sales of silver eagle coins, begun in May, when sales to the public were terminated and sales to the mint's 13 authorized dealers were tightly limited.

 

Word of the mint's suspension of gold coin sales came from the American Precious Metals Exchange in Edmond, Oklahoma, and from Centennial Precious Metals in Denver, Colorado.

 

The suspension is overwhelming evidence that the futures contract price of gold on the commodities exchanges is substantially below the physical market price and that, indeed, the commodities exchanges are being used as GATA long has maintained -- as part of a massive scheme of manipulation of the precious metals, currency, and bond markets.

 

https://online.kitco.com/bullion/completelist.html

 

IMPORTANT:Due to the volatility of the market, we are experiencing a significant increase in the volume of shipments going out. Although Kitco and our depositories are working hard to stay on top of this, you may experience a delay in your order being processed by our vault, and sent out to you. We apologize for any inconvenience this may cause, and appreciate your patience and understanding.

 

http://www.bulliondirect.com/index.jsp

 

High Activity Market Alert The precious metals industry is experiencing a substantial surge in activity which may increase the possibility of logistical delays; including customer service response time, product processing (incoming and outgoing), and product transport/fulfillment.

 

Certain silver products are delayed as much as 2-4 weeks. Please review Catalog descriptions for notices regarding such delays.

 

We are working diligently to fulfill all orders in a timely fashion while maintaining competitive prices.

 

We appreciate your patience and understanding.

The Bullion Direct Team

And the real world consequences are shortages (long waits for product - like a soviet food line) + mining is unprofitable (so stocks have not participated for years)

See, I'd put that down as an absurd piece of denial.

 

Fiat has not just surged 20% against gold. Gold has fallen 20% against fiat. Just as gold more than doubled against fiat before that. Gold is a turbulent market, and to deny that just seems fatuous to me.

Let's examine the facts, then see who is really in denial.

Bloomberg headline: Silver, Oil, Wheat, Copper plunge as Dollar's rebound Saps commodity boom.

ie everything else is turbulent against the dollar, or the dollar itself is turbulent. Am I just being stupid, or what?

This is going to be interesting to watch.

 

If this really is the end of the bull, this thread could be a study in cognitive dissonance as denial as people downgrade their previous lowest expectations and keep predicting an upswing.

 

However as a relatively dispassionate observer, my observation would be this. What we are seeing is a reminder of how shockingly turbulent gold can be (maybe because of interventions, but more likely because of the size of the market and the degree to which sentiment swings it). I've seen a graph here where an upswing in gold through the autumn is extremely common. And I believe there is going to be plenty more scary financial and international news this autumn. So an upswing still feels more likely to me than not.

 

My worry would be the degree to which deflationary forces are starting to drag money available for all investment down. Gold may turn out to be some kind of insurance simply because its value doesn't collapse to quite the same degree as other popular options such as shares and property. People are going to lose a lot of money from bad property investments and companies are going to collapse*. Gold might just bumble along in this region, not doing quite what you'd hoped but still protecting your wealth better than some alternatives.

 

Good luck to those of you holding anyhow. Must be a slightly unnerving period, but hopefully you like rollercoasters, and the next uphill stretch might be close.

 

* FWIW - I don't have huge amounts of money and most of mine is in my property - right now that isn't working out so great either as I haven't been able to remortgage and that is making life a little tough, so I hope I won't be showing any schadenfraude if gold has its own problems.

INCORRECT

What we are seeing is how shockingly unstable currencies can be. That is why ALL commodities are 'shockingly unstable' at the moment

Well I just did... Doubled up my holdings at $12.5 just after 8am

 

Average price paid now £7.48 ($13.9 at current exchange rate)

 

Will double up again if it hits 10 dollars ...but I already see some silver blood on the streets, and sterling is collapsing

That's the spirit! I only buy physical and I'll bet that, come morning in New York, I will not be able to buy at these levels.

Great forum, think I will settle in here quite nicely!