frizzers

Excellent article from Turk

http://goldmoney.com/en/commentary.php

So does this mean prices up or down in the short term... A few possible scenarios as follows?

 

1) Large long investors have to find more margin for existing positions and thus close out (sell) some positions if they are already margined to the near maximum = short term downward price pressure

2) The big short players are already more leveraged than the longs and have to liquidate (buy to cover) some of their positions to stay in the market = short term upward price pressure

3) Neither longs nor shorts are overly leveraged and can afford to add margin to keep existing positions open?

 

hmmm.

That's my reading of it Gatesy. In a word: volatility.

I do remember they changed the margin requirements for silver on the Comex around about April 20th, 2006 and we got a horrible nasty sell off

NYMEX To Change Margins For Gold Futures Contracts

02/07/08

The New York Mercantile Exchange, Inc. announced today that it will change margins for its gold futures contracts, effective at the close of business tomorrow.

Gold futures margins will increase to $3,750 from $3,250 for clearing and non-clearing members and to $5,063 from $4,388 for customers.

Margins for the Asian gold futures contract will increase to $1,206 from $1,045 for clearing and non-clearing members and to $1,628 from $1,411 for customers.

Margins for the COMEX miNYTM gold futures contract will increase to $1,875 from $1,625 for clearing and non-clearing members and to $2,531 from $2,194 for customers.

Ha

ROFLMAO

Cool

I believe it is possible to own allocated with silver with Bairds and not pay VAT, because you don' take delivery.

Ker, it's because most spreadbetting companies are boiler rooms, bucket shops whatever you want to call it.

They do not hedge your bet in the market, but take your bet on themselves relying on the fact that mot s-b-ers lose money.

There is a thread on this on IG somewhere.

Goldfinger, You are a legend. IN gold, this property crash is already down almost 50%.

All those of you who posted on the ounces of gold thread and own a load of ounces must be delighted.

How about an ounces of silver vs houseprices chart? Would that be difficult to do?.

Belfast Boy, I saw Conroy present at Minesite about a year ago. I liked the story.

Everyone else., the gold chart from NOv to Dec 07 is an absolute mirror of March to June 08 . We could be set for a big move here.

Cheers, Mr.

Agreed.

MA's are lined up perfect.

Goldfinger,

My interpretation of that chart is that lending, for all the reasons we know, is drying up very fast. The impact of this will imo be equivalent price falls in anything that is credit driven.

If those lending levels go back to 98 - or even earlier though they are not visible on the chart - then there is an argument that prices of credit related or credit driven assets will also return to 98 levels.

It's possible we will see hugely inflationary debt monetization first though.

CC

I know - and all that copper too. Unbelievable.

Still no volume in trading though

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO THE GENERAL PUBLIC IN THE UNITED KINGDOM OR JERSEY. THIS PRESS RELEASE IS NOT A PROSPECTUS BUT AN ADVERTISEMENT AND INVESTORS SHOULD NOT SUBSCRIBE FOR ANY TRANSFERABLE SECURITIES REFERRED TO IN THIS PRESS RELEASE EXCEPT ON THE BASIS OF INFORMATION IN THE PROSPECTUS.

Press Release Friday 27th June 2008

Ownership of Gold Bullion Securities products on London and Australian Stock Exchanges to transfer to ETF Securities

Gold Bullion Holdings Ltd has agreed to sell to ETF Securities Limited management and control of its Gold Bullion Securities products, being:

- the Lyxor Gold Bullion Securities product (LSE code GBS), which is listed on the London Stock Exchange, Euronext Paris, Borsa Italiana and the Deutsche Boerse; and the Australian listed Gold Bullion Securities product (ASX code GOLD)

Under the agreement, the two products will be marketed with the ETFS suite of exchange traded commodities (ETCs). Although the name will change to ETFS Gold Bullion Securities the exchange codes will remain the same (being “GBS” on the LSE, Euronext Paris and Borsa Italiana and “GG98” on Deutsche Boerse).

The sale and purchase is subject to certain regulatory consents and the parties anticipate the transaction will be completed very shortly. It will involve no changes to any of the operations and will not impact investors in the securities in any way.

Commenting, Graham Tuckwell, Chairman of ETF Securities, said:

“The acquisition of these two gold ETCs demonstrates our commitment to be the leading provider of exchange traded commodities. These products will fit well within our commodities platform and will be part of an expanded marketing effort for gold products in particular.”

Commenting, James Burton, CEO of World Gold Council, majority-owner of Gold Bullion Holdings, said:

“As the world’s first two gold ETFs, GBS and GOLD have played an instrumental role in the development of the allocated, physically-backed, gold ETF market, which now represents more than 780 tonnes of global gold demand.

“This development will help us to consolidate our efforts through the exchange traded gold programme to further launch and promote gold ETF products around the world."

The GBS securities are currently marketed by Lyxor and the parties have commenced discussions with Lyxor on the most suitable arrangements for the marketing and branding to be changed over to ETF Securities.

James Burton added: “I would like to express our sincere thanks to the dedicated team at Lyxor, who have so successfully marketed the GBS securities on our behalf.”

Since the launch of these first gold ETFs some five years ago, most of the same management team and directors have gone on to establish ETF Securities, which is now the leading exchange traded commodity (ETC) firm in Europe, with more than 120 ETCs listed on five exchanges and more than US$6 billion in assets.

As of 25 June 2008 holdings in the London product were US$3.3bn or 115 tonnes of gold and holdings in the Australian product were US$0.3bn or 11 tonnes of gold.

WGC will continue to support ETF Securities in the marketing of gold as part of its remit to promote investment demand for gold.

Enquiries:

ETF Securities: Graham Tuckwell +44 7910 112 756 or

Hector McNeil +44 20 7448 4330

World Gold Council: Matt Graydon, Head of External Relations

+44 (0) 207 826 4716

matt.graydon@gold.org

Amazingly junior miners were up today against the terrible performance of the Dow etc.

This bodes well.

This is different to the crashes of August 07 and Jan and March 08

Hunts to buy silver again?

http://news.silverseek.com/SilverSeek/1213327510.php

Morgan's latest:

http://www.silver-investor.com/davidmorgan...oftheStory.html

I am going to look into this.

I think you have bought at a good time.

c. 2000 correct to 1500.

Retest 2000 correct to 1500.

3rd time past 2000, then pull back 2000 is support.

From 2000 to about 3300. Then correct to 2400.

Back up to 3300 for retest corrects to 2400.

So where next?

I would suggest the pattern from low to high is more or less a double: 900 to 2000, then 1500 to 3300, so 2400 should take is to around 5000.

From high to high it's about 60-70%. 3400 x 65% = 5610.

Careful,

As all through last year or so, I am basically 100% committed to gold and silver right now.

You'd never know it with a name like that.

Hey nice site - and great charts.

Do you mind if I use one for Moneyweek?

Great chart, notanew.

I think buy silver with goldmoney is the cheapest way to by physical - or silver bags from the US