GOLD

[Perishabull]

 

Gold sentiment;

I'm a fan of these charts from

www.sentimentrader.com

[drbubb]

Boss of big gold mining company says gold needs to go up to $2000 per oz or miners will cut back

 

"Mr Holland said rising energy, labour and production costs would virtually double costs in the next five years, and a gold price of close to $US2000 per ounce would be needed to keep pace.

Advertisement

 

If costs remain close to $US1600 where they have been in recent weeks, much of the industry would be "killed", he said, and many companies would have to pull back on projects.

 

[link to www.smh.com.au]:

http://www.smh.com.au/business/mining-and-resources/gold-margins-getting-tight-says-gold-fields-chief-20120731-23cal.html

[Perishabull]

[Tune2001]

Aw, man! I was hoping we could do the whole month!

 

Sell when the rocket pics come out, buy when the Gold thread is silent. ;-)

[callmejoe]

http://www.thedailybell.com/4196/Anthony-Wile-Nancy-Grace-Points-the-Way-to-Gold-Confiscation

Nancy Grace Points the Way to Gold Confiscation?

[halight]

Gold Bulls Expand As Billionaire Paulson Buys Metal: Commodities

By Nicholas Larkin - Aug 17, 2012 4:28 PM GMT

 

Gold traders are the most bullish in six weeks as investors boosted their bullion holdings to a record on concern that economic growth is slowing and after billionaires John Paulson and George Soros bought more metal.

Fourteen of 26 analysts surveyed by Bloomberg expect prices to rise next week and six were bearish. A further six were neutral, making the proportion of bulls the highest since July 6. Paulson raised his stake in the SPDR Gold Trust, the biggest gold-backed exchange-traded product, by 26 percent in the second quarter and Soros more than doubled his holding, U.S. Securities and Exchange Commission filings showed Aug. 14. Global holdings reached a record on Aug. 10, data compiled by Bloomberg show.

 

Read more at link http://www.bloomberg.com/news/2012-08-17/gold-bulls-expand-as-billionaire-paulson-buys-metal-commodities.html

[wednesday2]

Haven't posted on this thread in a long while. If this is too "fringe", feel free to delete or ignore.

 

China is busy recasting all of their gold reserves into smaller one kilo bars in order to issue a new ‘gold backed’ global currency. This is no doubt the reason for the recent trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. Expect to see more nations sign new trade agreements with China in the near future.

 

GATA now estimates that 80% of the gold (40.000 metric tons) supposedly stored in the vaults/allocated accounts of the bullion brokerages is long gone. Clients retrieving their allocated gold have had much trouble in doing so, and when they do manage to take possession, their gold does not bear the registered serial numbers they are supposed to. One can only wonder how much of the allocated gold is now 1 kilo bars. Additionally we now read that China is interested in purchasing Gold mines.

 

Here is an excerpt from Jim Willie’s recent ‘Hat Trick Letter’

 

CHINA RECASTS GOLD BARS

 

China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.

 

The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic USTreasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.

 

http://truthbroadcastnetwork.com/uncategorized/china-launching-gold-backed-global-currency/

[Perishabull]

 

NOW looks like a good time to buy gold.

[callmejoe]

http://www.drschoon.com/members/images/911GoldMoneAndPower.pdf'>http://www.drschoon.com/members/images/911GoldMoneAndPower.pdf

 

9/11 & GOLD, MONEY AND POWER

…..Twenty-five years ago,..I had met Howard Hughes’ private banker, Dr. Norman Bernard Thirion…… told me about events …. that led to …. the name of Bruce Rappaport.

 

The events centered on the embezzlement by the Reagan White House of funds Thirion had solicited from the Saudi royal family. The funds, $500 million, intended to aid the Afghan freedom fighters never reached them. Instead they were later discovered in a secret CIA Swiss bank account co-mingled with proceeds from the Iran-Contra arms scandal, another illegal Reagan operation. The bank account was controlled by an Israeli-Swiss banker, Bruce Rappaport, later connected to the events surrounding 9/11.

 

…..I recognized Rappaport’s name when it came to my attention last year in 2011, this time in connection with 9/11 and events …. that will reveal the continuing connection between gold, money and power …

 

9/11 and the Federal Reserve, Dolllars and Sense Shows 36 and 37

Published on Aug 19, 2012 by SchoonWorks

http://www.drschoon.com

http://www.survivethecrisis.com

This show explains how Darryl Robert Schoon came to understand the reasons behind the attack on the World Trade Center on 9/11. The attack was not a random act of violence by Muslim terrorists. Not only was the US government involved, the Federal Reserve was involved as well.

 

The destruction of the WTC allowed the Federal Reserve to allow securities to be traded without a paper trail because of the ‘national emergency’. $240 billion in illegally issued covert bonds were cleared without a paper trail. Read “Collateral Damage”. The answers are there.

[halight]

Iv been seeing more and more "Gold news story's" In the mainstream news,

 

 

==============================================================================================

 

Should I swap my £10k cash Isa for investing in gold bullion?

 

Read more: http://www.dailymail.co.uk/money/experts/article-2187826/I-cash-Isa-10k--I-invest-gold-bullion.html#ixzz24Lt73TCz

[geisaver]

Iv been seeing more and more "Gold news story's" In the mainstream news,

 

 

==============================================================================================

 

Should I swap my £10k cash Isa for investing in gold bullion?

 

Read more: http://www.dailymail.co.uk/money/experts/article-2187826/I-cash-Isa-10k--I-invest-gold-bullion.html#ixzz24Lt73TCz

 

Front page of the FT is Republicans considering a return to the gold standard

[drbubb]

Iv been seeing more and more "Gold news story's" In the mainstream news,

Should I swap my £10k cash Isa for investing in gold bullion?

Why not... so long as you wait for a pulback on light volume

[sine270]

Why not... so long as you wait for a pulback on light volume

 

I didn't make a load of money on gold by waiting for pullbacks. Some pullbacks never come.

I'm all for selling at a peak though. The type of peak you have pointed out more than once. In future I may listen.

[wednesday2]

MSNBC (msm, liberal/progressive), right now, is doing a very long segment on returning to the gold standard. Never even heard them mention the word gold before! This is probably very bullish for gold - the fact that it's being introduced to a whole new group of people.

[callmejoe]

http://www.offthegridnews.com/2012/08/21/banks-finally-allowed-to-count-gold-as-100-money/

 

Banks Finally Allowed To Count Gold As 100% Money

 

This summer, a quiet change was made to the accounting rules for gold in bank vaults. It made headlines almost nowhere, but it has the potential to dramatically change how gold is viewed relative to cash in the broader economy. For informed and prepared minds, it’s also the chance to stock up up on gold at an attractive price before the mainstream masses really process the change.

 

Basically, for banks, gold is now 100 percent money.

 

.... Previously, banks could only count gold as 50 percent money.

[wednesday2]

Today billionaire Eric Sprott spoke with King World News about one of his frightening predictions, “I always postulated that the financial system would go bankrupt, and it has, save for one thing, it got bailed out.” Sprott, who is Chairman of Sprott Asset Management, also added, “But I don’t think the central planners have a winning hand here. They’re not going to win.”

 

Sprott then warned, “God knows when we get there (to the end of the current system) what we are all staring at.” But first, here is what he had to say about the last decade: “When I reflect back over the decade, I think I can come almost come up with 2,500 tons of net change in physical demand, in a 4,000 ton market on the supply side, which hasn’t changed in that 12 years, that was in balance 12 years ago. How do these ETF’s get to buy gold? How do these central banks go from sellers to buyers?”

 

Eric Sprott continues:

 

“How does China come in and buy 500 tons? How did all of this happen with no increase in the supply of gold? It’s getting more extreme by the day. If I take today’s numbers, I think there’s probably a 2,500 ton shortfall of physical gold. I must conclude that the G6 central banks are continuing to lease their gold into the market.

 

It’s not called a ‘sale’ because theoretically they still own it (on paper), but it’s been leased to a bullion bank that’s sold it to someone, and it’s not coming back again....

 

“I am sniffing that there’s going to be a day when those central banks that are leasing it, realize they won’t get it back, are going to put up the sign and say, ‘No mas. We’re not going to sell any more. We’ve lost this game.’ (They will ask themselves) what are we doing here? Why do we keep suppressing the price of gold?

 

Everyone knows there’s a financial crisis going on. And if they (central banks that have leased out gold) ever try to get it back, they’ll never get it back, and who knows where the price of gold can go, but it can go a long, long way from here.

 

I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold).

 

I can sense it has a lot of upside here. Total chaos can happen when we all realize that on a sovereign basis, the ‘Emperor has no clothes.’ Who knows how high it’s going to go, but we’re not talking about just hitting a new high above $1,920. We’re looking at much bigger numbers.

 

I sense big things happening in gold, in a tsunami-like sense, where all of the sudden you get this whole new group of people moving in there. The ownership of precious metals is so small in the world, like 3/4 of 1%. And if you take out guys like Paulson and myself, and others, who are so concentrated in (gold), what does the average guy have in gold? Nobody is there, and none of these pension funds are there.

 

There have been lots of studies done by prominent thinkers, suggesting gold should be a way more significant part of a portfolio, minimum 2% to 5%. If you want to get a little aggressive (according to the experts) 10%. Well, you and I both know you cannot get that kind of money into gold at these prices. Yes you can, if the price wants to go way up.

 

There’s a shortage of physical gold already (that’s available for sale at these levels). We have these Ponzi paper markets that hide what’s going on in the physical market, but I can assure you the physical market is well tied together here.”

 

Sprott also added: “I always postulated that the financial system would go bankrupt, and it has, save for one thing, it got bailed out. But it was bankrupt. So, yes, they’ve deferred it and pushed it out. This has all played out according to script, although people interfered with the script.

 

They changed all of the rules with things we had never heard of in our lifetimes. But I don’t think the central planners have a winning hand here. They’re not going to win. God knows when we get there (to the end of the current system) what we are all staring at.

 

There’s only one way to survive it, and that’s to own something that will maintain its value, and certainly gold and silver are on the top of that list.”

 

Sprott had this to say about silver: “I’ve alway been a believer that it (the gold/silver ratio) will go back to its historic ratio, which is 16/1. If the gold price went to $3,200, that would imply the silver price would go to $200. Well, a move from (the recent low of) $26 to $200, is a hell of a lot better than the move from $1,600 to $3,200.”

 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/24_Sprott_-_We_Are_Staring_At_Chaos_&_Collapse_In_Front_Of_Us.html

[drbubb]

"I argue that there is 6,500 tons of demand and 4,000 tons of supply (each year), and the extra 2,500 tons is coming out of central banks that are leasing it. Imagine if they just stopped leasing it. Who knows where the price would go? You would get such chaos (disorderly upside trading in gold)."

 

Whomever bought it from the CB's might lease it.

 

Or more gold miners could sell forward Gold

[wednesday2]

 

Whomever bought it from the CB's might lease it.

 

Or more gold miners could sell forward Gold

 

Unless the CB's want it back. Another KWN interview with Dan Norcini:

 

Today King World News is reporting on the stunning developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that in the metals markets, “... we’ve had a huge amount of short covering.” Norcini also stated, “Those shorts got hit hard this week, and a lot of them ran for the exits. These guys got caught with their pants down.”

 

Just weeks ago, on July 28th, Norcini correctly predicted in his KWN interview that there would be a huge move in silver, “if they (hedge funds shorts) get caught on the wrong side of that market ... because all of those shorts are going to head to the exits at the same time.” It has unfolded exactly as Norcini predicted, much to the dismay of the hedge fund shorts.

 

The acclaimed trader discussed hedge fund problems in both the gold and silver markets, but first, Bill Haynes, President of CMI Gold & Silver, had this to say about what is taking place: “Eric, it (the correction) looks like it’s over. We had a big run-up in gold and silver, a price correction, and we’ve had a period of basing now for a year and a half.”

Bill Haynes continues:

 

“Both of the metals are moving to the upside. It’s sort of like a stealth market, but it looks like it’s launching itself higher. Before we draw back in the people who were buying a year and a half ago, we are going to have to see new highs on gold, and we are going to have to see silver in the $40s.

 

But we’re going to see these prices start moving higher because there is greater awareness, worldwide, of the dire circumstances regarding the world’s financial situation.....

Haynes also added: “He (Eric Sprott in his KWN interview) is talking about 6,500 tons of demand (for gold) annually, and there’s only about 4,000 tons of supply. So there is 2,500 tons being leased (from Western central banks to make up for the shortfall).

 

So people are not left in a vacuum about what 6,500 tons, 4,000 tons, 2,500 tons means, the US government claims to only own 8,133 tons of gold. We know that the US gold holdings have not been audited since the Eisenhower Administration, which begs the question, has any of that gold been leased?

 

But 2,500 tons, we’re now talking about a little over 3 years (using up the entire US gold hoard) of covering that 2,500 ton (annual) shortfall. So 2,500 tons is a huge number of shortfall in here.

 

The central banks have been leasing their gold, as Sprott suggests. But what happens when the central banks realize they are not going to get their gold back? The people they leased it to are the bullion houses. The bullion houses then sold it to somebody who wanted physical gold.

 

The bullion houses, of course, were later going to buy the gold back from another source, and return the gold to the central banks. But what happens when the time comes if there is not enough to go around to return the (gold) to the central banks?

 

This is going to be an explosive move to the upside. I just do not want to be out of the gold market at this time.”

 

Norcini noted this major development in the gold and silver markets: “Both of these markets (gold & silver) broke significantly out of those ranges. They did it on good volume, and they did it, surprisingly, when a lot of people really weren’t expecting them to do it. This caught a lot of people napping with the intensity of the move, and the ferocity with which they broke out.

 

You had a lot of traders in the speculative community, and by that I mean the hedge funds, had taken out some pretty good size short positions in these markets. These guys have been making bearish bets. They’ve been adding shorts.

 

Those shorts got hit hard this week, and a lot of them ran for the exits, and the rest is history. A lot of the momentum players are now in these markets. That tells us that we should expect, as we move forward, to see dips in price begin to be bought because I think the (computer) algorithms are now in a ‘buy’ mode.

 

So these guys (shorts) got caught with their pants down, and that’s reflected in this week’s COT report. Even though the COT only goes through Tuesday, we had some pretty big moves the rest of the week, so I expect we had significantly more short covering taking place this week than what’s on that report.

 

When we look at silver, we had a short position in there, it was one of the larger short positions the hedge funds have had going all the way back for five years. Well that short position has dropped significantly. We’re talking about nearly 17,500 (contracts) shorts that were in there. They’ve dropped that position all the way down to 8,500.

 

So we’ve had a huge amount of short covering. My guess is another 3,000 to 4,000 (contracts) of those shorts came off after the COT cutoff date. Above $32.50 I think you are going to see a significant amount of short covering occur. If silver can then climb to $35 to $35.50, that’s the last line of defense for these shorts.

 

You’ll see some very sharp short covering above $35.50, and you’ll see a huge new influx of money coming into silver, which will take it very quickly to $40.

 

It’s the same thing in gold. You had a large amount of short covering in gold take place, and new longs come into that market as well. Their net long position has jumped about 28,000 (contracts) in one week’s time. That’s a big jump.

 

They (speculators) are coming back (into gold) with a vengeance. They are coming back in at very low levels of exposure to the long side of the market. There is a lot of room for these guys to come piling into the market. There is potential for a very strong move upward as these funds begin to rebuild their positions on the long side.

 

If we clear $1,680, you’ll see some short covering above $1,680. But you’ll see a significant amount of short covering, of a panic type nature, if gold goes through $1,700. In other words if gold gets a ‘handle‘ of 17 in front of it, and gold refuses to break back down, the shorts are in trouble and they know it, and you are going to see them come out of there very quickly.”

 

 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/8/25_Absolutely_Stunning_Development_In_The_Gold_%26_Silver_Markets.html

[huntergatherer]

Gold seized during inspection of collapsed lender

 

17.08.2012 11:07

 

http://www.thenews.pl/1/12/Artykul/109461,Gold-seized-during-inspection-of-collapsed-lender-Amber-Gold

[drbubb]

KWN:

"Today King World News is reporting on the stunning developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that in the metals markets, “... we’ve had a huge amount of short covering.” Norcini also stated, “Those shorts got hit hard this week, and a lot of them ran for the exits. These guys got caught with their pants down.”

 

Hmm.

 

Why don't they talk about something more important, like:

GLD/ Gold has run up to an important Resistance level, and will need Fresh Buying to punch through it

 

GLD ... update

 

 

KWN is heavily biased (as a Bull)

 

They always give the Bullish news, and you don't here about the Bearish parts of the story until AFTERWARDS, when the price is lower, and they are trying to talk it back up again.

 

Is that type of "news" really helpful?

On GEI I try to do better, and talk about things that will move the market BEFORE the move occurs.

[wednesday2]

KWN:

"Today King World News is reporting on the stunning developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that in the metals markets, “... we’ve had a huge amount of short covering.” Norcini also stated, “Those shorts got hit hard this week, and a lot of them ran for the exits. These guys got caught with their pants down.”

 

Hmm.

 

Why don't they talk about something more important, like:

GLD/ Gold has run up to an important Resistance level, and will need Fresh Buying to punch through it

 

GLD ... update

 

 

KWN is heavily biased (as a Bull)

 

They always give the Bullish news, and you don't here about the Bearish parts of the story until AFTERWARDS, when the price is lower, and they are trying to talk it back up again.

 

Is that type of "news" really helpful?

On GEI I try to do better, and talk about things that will move the market BEFORE the move occurs.

 

Agree about KWN. But Dan Norcini is pretty straight up, bull market or bear. He's very technical. He's got a blog somewhere I haven't read in awhile.

[drbubb]

Agree about KWN. But Dan Norcini is pretty straight up, bull market or bear.

He's very technical. He's got a blog somewhere I haven't read in awhile.

Gold is at an important level.

Talking won't get it through Resistance. Buying might

[callmejoe]

http://www.top-colleges.com/blog/2011/05/31/utah-passes-bill-allowing-gold-and-silver-coins-to-be-used-for-their-true-value/

 

Utah Passes Bill Allowing Gold and Silver Coins to be Used for Their True Value

[Van]

We could be looking at a retrace here:

 

http://postimage.org/image/lm5n3u8lx/

 

 

[Jake]

KWN:

"Today King World News is reporting on the stunning developments taking place in the gold and silver markets. Acclaimed commodity trader Dan Norcini told KWN that in the metals markets, “... we’ve had a huge amount of short covering.” Norcini also stated, “Those shorts got hit hard this week, and a lot of them ran for the exits. These guys got caught with their pants down.”

 

Hmm.

 

Why don't they talk about something more important, like:

GLD/ Gold has run up to an important Resistance level, and will need Fresh Buying to punch through it

 

GLD ... update

 

 

KWN is heavily biased (as a Bull)

 

They always give the Bullish news, and you don't here about the Bearish parts of the story until AFTERWARDS, when the price is lower, and they are trying to talk it back up again.

 

Is that type of "news" really helpful?

On GEI I try to do better, and talk about things that will move the market BEFORE the move occurs.