drbubb Posted November 24, 2012 Report Share Posted November 24, 2012 Volume was "too light" unfortunately. Maybe we will get some higher volume follow-through next week Link to comment Share on other sites More sharing options...
callmejoe Posted November 26, 2012 Report Share Posted November 26, 2012 http://hat4uk.wordpr...gone-sovereign/ GOLD FRAUD EXCLUSIVE: EU and Asian sources allege the tungsten-switch has gone sovereign ...... we are talking about an Establishment eurobank alleged to have been caught short on a fulfilment order, and using the tungsten scam to fill the gap.... The ramifications of this go far beyond a pro-am retail fraud. First off, ultimate discovery of the scam is a certainty: so you’d have to be pretty damned desperate to try it on. And second, I do find it intriguing that these reports have popped out of the woodwork just when the ECB is thought to be planning some form of gold-backing for any eventual eurobond issues – should the eurozone survive. .... Link to comment Share on other sites More sharing options...
drbubb Posted November 28, 2012 Report Share Posted November 28, 2012 Superstorm Sandy Flooded Gold Vault in Manhattan By Lori Spechler | CNBC – 22 hours ago When Super Storm Sandy flooded lower Manhattan, it also flooded the vaults of at least one gold depository. Monday, the CME declared force majeure at a precious metals depository in New York, Manfra, Tordella and Brookes ("MTB") effective immediately. This depository is one of five locations listed by the CME for the warehousing of physical gold. "We moved the inventory after the vaults had flooded," says MTB CEO Raymond Nessim. We had water in the vaults but, "all inventory is intact and in good shape." (More From CNBC: The World's Biggest Gold Reserves) MTB has relocated its inventory to a Brink's depository near John F. Kennedy International Airport ("JFK") according to Nessim. Before the storm, the MTB depository had already been in the process of moving to a midtown location. Currently located at 90 Broad Street, that move is expected to be completed by the first quarter of next year, according to the CEO. Nessim notes that his vaults flooded by Superstorm Sandy are "very close" to the Federal Reserve Bank of New York and its gold vault. As of 2008 that vault held 216 million troy ounces of gold in 2008 and is "80 feet below street level and 50 feet below sea level," according to the New York Fed's website. However, a spokesperson for the Federal Reserve Bank of New York says that the building was secure, dry and operational throughout the storm. (More From CNBC: The 'Sneaky Bid' in Gold and Silver) According to a spokesperson for the CME, Damon Leavell the situation at MTB should not be disruptive to the gold market. "It's going to be business as usual," he says. --- http://finance.yahoo...-143826631.html Link to comment Share on other sites More sharing options...
drbubb Posted November 28, 2012 Report Share Posted November 28, 2012 Gold Heads for Biggest Loss in Three Weeks on U.S. Economic Data By Nicholas Larkin - Nov 28, 2012 5:46 AM PT Gold headed for the biggest drop in more than three weeks on speculation that improving U.S. economic data will curb demand for the metal as a protection of wealth. Reports showed yesterday that consumer confidence in the U.S. rose to a four-year high and home prices gained by the most since 2010. U.S. Senate Majority Leader Harry Reid said he is “disappointed” in the lack of progress in talks to avoid the fiscal cliff of spending cuts and tax increases in January. Gold-backed exchange-traded-product holdings reached a record. “Despite on-going concerns over looming public spending cuts and tax hikes into 2013, macro numbers in the U.S. remain relatively positive,” Andrey Kryuchenkov, an analyst at VTB Capital in London, wrote today in a report. “Market participants will remain cautious about adding to their already substantial longs, given bullish U.S. data like yesterday,” he said, referring to bets on higher gold prices. Gold futures for February delivery fell 1.6 percent to $1,717.30 an ounce at 8:44 a.m. on the Comex in New York. A close at that prices would be the biggest loss since Nov. 2. Holdings in gold-backed ETPs climbed 5.1 metric tons to a record 2,612.1 tons yesterday, data compiled by Bloomberg show. The U.S. Mint sold 75,500 ounces of American Eagle gold coins so far this month, the most since January, data on its website show. === /more: http://www.bloomberg...p-holdings.html Link to comment Share on other sites More sharing options...
aardvark Posted November 28, 2012 Report Share Posted November 28, 2012 just wait until the fiscal cliff, then we'll see what happens. Link to comment Share on other sites More sharing options...
Roddy Posted November 28, 2012 Report Share Posted November 28, 2012 Of interest - page 8- re gold http://mauldin_images.s3.amazonaws.com/images/uploads/ttmygh/6107/Nov27_2012_TTMYGH.pdf and http://sprottglobal.com/markets-at-a-glance/maag-article/?id=6590 Link to comment Share on other sites More sharing options...
drbubb Posted November 29, 2012 Report Share Posted November 29, 2012 Excellent ! - that Mauldin link I found this in it: McEwen: Gold Hitting More Mining Barriers Video : http://www.bloomberg...Alj2MMf3vw.html Nov. 23 (Bloomberg) -- McEwen Mining CEO Rob McEwen discusses the future of the gold market. He speaks with Alix Steel on Bloomberg Television's "Lunch Money." (Source: Bloomberg) === Note: I had the privilege of spending an hour with Rob McEwen in a 3 way conversation back in the spring, here in HK. He is truly a brilliant guy with deep thoughts on the gold market Link to comment Share on other sites More sharing options...
romans holiday Posted December 1, 2012 Report Share Posted December 1, 2012 http://www.marketwatch.com/story/gold-futures-retreat-after-sharp-gains-2012-11-30 We raise an eyebrow at talk of an early settlement of the issue well before year’s end,” Phillips said in a note. “We expect the political game to be played to the full. All markets including gold and silver will be made volatile as each chapter is read to the public and digested for them.” View for next week The gold market will continue to be driven by fiscal-cliff talks next week, said Jeffrey Wright, managing director at Global Hunter Securities. Read about the impact of a fiscal cliff deal on gold. “While the Republicans appear to be flexible on tax increases, the administration has shown no inclination to put any real spending cuts on the table,” he said. “I do not think the market or public believes the promise of future spending cuts will ever materialize. The end result will probably be continued stagnant growth in a higher tax environment, and the Fed will be forced to continue easy monetary policies indefinitely,” said Wright. That’s “good for gold.” Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2012 Report Share Posted December 4, 2012 Down-trend resumed? Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2012 Report Share Posted December 4, 2012 Long term trend: Link to comment Share on other sites More sharing options...
klogger Posted December 4, 2012 Report Share Posted December 4, 2012 It looks a little too early to call for me as it may bounce of the 50DMA of several stocks: ZSL reverse indicator (-2x leverage - opposite of AGQ) But I don't think we are in a break out yet as the SP-500 managed a recovery when it dipped below the lower trend line of the rising wedge: That's my tuppence for what it is worth. Link to comment Share on other sites More sharing options...
drbubb Posted December 4, 2012 Report Share Posted December 4, 2012 Down-trend resumed? That $1675/1680 low is going to be retested soon IMHO - hope it holds. I sold off the last of my GDX recently, thank goodness Here's GBS.L - the UK version of GLD ... update : GLD It looks like a retest of the recent (early Nov.) low of $162 is "in the cards" Link to comment Share on other sites More sharing options...
Peasant Posted December 4, 2012 Report Share Posted December 4, 2012 Under $1000 will be tested again in the next few years when deflation kicks in before currency distruction, what are people's plans to cope with this; sell when they feel deflation has started (now?) and buy in again at the bottom or just hang on in there.. Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2012 Report Share Posted December 4, 2012 Under $1000 will be tested again in the next few years when deflation kicks in before currency distruction, what are people's plans to cope with this; sell when they feel deflation has started (now?) and buy in again at the bottom or just hang on in there.. Reckon the long term trend should hold alright... more of the same. Reason being, gold is an alternative currency. i see the term 'counter currency' is being bantered about lately. Link to comment Share on other sites More sharing options...
electroweak Posted December 10, 2012 Report Share Posted December 10, 2012 If this is really real, it;s pretty damning!!! http://www.gata.org/files/IMFGoldLendingFullStudy1999.pdf I only got as far as page 4 before my interest level exploded..... page4: 8. The demand for gold for fabrication purposes, in particular from the jewelry and electronics industries, has consistently out-paced the supply from current production over the past 20 years. The so-called market deficit--i.e., physical demand lessmine production-has been widening over the years and filled by direct salesfrom official and private sector stocks, and from gold lending by many central banks, which have resulted in salesin the spot market by the bullion banks, who borrowed the gold.’ WHOA!!! Link to comment Share on other sites More sharing options...
romans holiday Posted December 10, 2012 Report Share Posted December 10, 2012 .... Link to comment Share on other sites More sharing options...
romans holiday Posted December 10, 2012 Report Share Posted December 10, 2012 That $1675/1680 low is going to be retested soon IMHO - hope it holds. I sold off the last of my GDX recently, thank goodness On the backend of the long consolidation since the spike [a large cup pattern], the 50 week MA looks good support. Link to comment Share on other sites More sharing options...
drbubb Posted December 11, 2012 Report Share Posted December 11, 2012 http://www.gata.org/...llStudy1999.pdf I only got as far as page 4 before my interest level exploded..... page4: WHOA!!! That was 1999 - it's different today Link to comment Share on other sites More sharing options...
electroweak Posted December 11, 2012 Report Share Posted December 11, 2012 That was 1999 - it's different today But it's a direct admission that CB's were lending for sales by bullion banks direct into the spot market. Do you think they stopped this after 1999? (really, an honest question). It's just as CGNAO warned us years ago. Do we think that GLD might 'lend' some of their physical stocks to generate an income? Remember Bob Pisani visited the SPDR GLD vault, and held up a bar which was NOT on the bar list? I suspect there are a lot more claims than bars. http://www.zerohedge...isit-glds-vault Link to comment Share on other sites More sharing options...
electroweak Posted December 12, 2012 Report Share Posted December 12, 2012 I'm calling it here, I think the short-term bottom is in for gold.. Disclosure: I am not trading. Link to comment Share on other sites More sharing options...
romans holiday Posted December 13, 2012 Report Share Posted December 13, 2012 Gold down hard through 1700 even after the big meeting. Will be interesting to see whether support at 1670 holds. Link to comment Share on other sites More sharing options...
electroweak Posted December 13, 2012 Report Share Posted December 13, 2012 Gold down hard through 1700 even after the big meeting. Will be interesting to see whether support at 1670 holds. Yes, odd behaviour overnight, that... Things that make you go hmmm....... Link to comment Share on other sites More sharing options...
Van Posted December 13, 2012 Report Share Posted December 13, 2012 The is a worrying "lack of a bounce" after a 2% selloff... Link to comment Share on other sites More sharing options...
romans holiday Posted December 13, 2012 Report Share Posted December 13, 2012 Yes, odd behaviour overnight, that... Things that make you go hmmm....... Or just some profit taking by the hedgies triggering some stop losses. Link to comment Share on other sites More sharing options...
Erewhon888 Posted December 14, 2012 Report Share Posted December 14, 2012 http://www.telegraph...ng-service.html Customers who purchase gold bullion coins from The Royal Mint can now store them in The Royal Mint Vault which is guarded throughout the year by the Ministry of Defence at the highly secure site. Coins stored in The Royal Mint Vault will be taken from existing stocks and moved securely to the Vault. A Certificate of Allocation guarantees the customer complete ownership of their coins and the ability to take delivery at any time. Moreover, the Royal Mint Vault can also be used to store LBMA Good Delivery Gold bars. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now