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GLD / Gold still needs a strong push above GLD-$122 (or so) to launch a new bull market



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China Establishes World's Largest Physical Gold Fund


.... there has been increasing chatter in recent months that Russia and China are setting the stage for a gold-backed currency, in preparation for the day the Dollar reserve hegemony finally ends ....


China's ambition is nothing short of becoming the world's new gold trading hub.


The good news for China is that with the BIS and virtually all "developed" central banks in desperate need of keeping the price of gold as low as possible while they debase their own paper currencies to unprecedented levels over fears of faith in fiat evaporating, China's gold fund will be able to procure gold for its members at a very reasonable price until such time as the lack of physical gold supply can no longer be swept away by mere paper shorting of the yellow metal.

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Game Changer: China Sets Up 100 Billion Yuan Gold Fund For Central Banks


On May 12, 2015, I reported China’s Silk Road economic project would include gold business. A month prior to that Shanghai Gold Exchange (SGE) chairman Xu Luode had “proposed to integrate gold market development into the strategic development plan of the Silk Road”.....


Today we got a glimpse of what could be a global game changer, China is planning to launch “a 100 billion yuan fund led by the SGE, …which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal.” This was just published by news outlet Xinhua in China mainland. ....

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Did COMEX Just Receive A Physical Gold Bailout From The Feds?


  • On June 1, 2015, JPMorgan added almost exactly enough ounces of physical gold to patch the deficiency between supply and delivery demand at COMEX, avoiding widespread dealer default.
  • Declassified documents, along with strong circumstantial evidence indicate that it was not JPMorgan, but its most important customer, the US Federal Reserve, that just bailed out COMEX....

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Foresight 2020 - Egon von Greyerz Gold Understanding Risks


Published on Jun 12, 2015

Foresight 2020 Catalonia meeting Egon von Greyerz talked about financial markets, taking risks, increasing debt, hyperinflation, the importance of gold and precious metals in an environment of broken markets and how market manipulations are doing most harm to world economies.

During the four day meeting: Foresight 2020 hosted by Michael St.Clair - Egon von Greyerz gave talks and questions and answers about the importance of gold and precious metals in today's unstable financial market conditions.

Rather than expressing 'gloom and doom' for the future .. Egon was very positive in his outlook .. telling people to be optimistic about life and enjoy life. At the same time being aware of risks and educating ourselves about the forces that effect us (observing historical and current patterns of behaviour) is essential to self-preservation.

Michael St.Clair was delighted that Egon accepted the invitation to attend the Foresight 2020 meeting in Catalonia - May 2015, that became more a large meeting of friends from all parts of the World. The moving glass door also adds another dimension!

This is the first talk Egon gave to those gathered for the meeting looking at astrology .. financial markets .. gold and the need to get out of the (broken) system as well as the potential of an emerging new paradigm creating a totally new system that functions in an environment of healthy co-operation.

Egon von Greyerz (EvG) is Founder and Managing Partner of Matterhorn Asset Management AG (MAM) and GoldSwitzerland based in Zurich, Switzerland. He regularly speaks at investment conferences around the world. He also publishes articles on precious metals, the world economy and wealth preservation.http://matterhornassetmanagement.com/

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Writing's On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It "Non-Confiscatable"



Well, whaddya know, here's the response from the Fed

And there's more where that's coming from if the Texans stay stuck on stupid.




HAARP Attack: Tropical Storm Bill To Get Stronger Over Texas, Rare Event Coming

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Here's a long term chart on GLD ... All Data : 2-years

The 500wk MA may prove to be important

GLD /Gold is stuck between the 100 wk MA ($120) and 500 wk MA ($110)


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US Stocks in Gold oz ... are looking exhausted





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A classic turn in Gold shares may be in place
... and right on the Full Moon too !


HUI and GDX are making a nice turnaround from yesterday's TEST.

Prior low in HUI was $146.005. Wed, close was $145.82 : Today so far, we have: $148.39 +2.57

Early this AM was a Full Moon, and a good time for a turnaround


====: Wed. Cls : Latest : +chg. : 11/05/14 L : close
HUI - : 145.81 : 148.14 : +2.33 : 146.01 : 146.80 :
GDX : $17.28 : $17.55 : +0.27 : $16.45 : $16.59 :
Nugt : $07.48 : $07.79 : +0.31 : $09.51 : $09.80 :

GLD : 111.98 : 111.58 : - 0.40 : 109.67 : 109.79 :
UGL : $36.84 : $36.60 : - 0.24 : $35.69 : $36.02 :
SLV :: $14.90 : $14.97 : +0.07 : $14.64 : $14.66 :


HUI / Unhedged Gold stocks - about to test $150 again


HUI ... 12-mos : 3-years : All-data : 10-d / GDX-3yrs : GDX-all




See All Data chart for importance of HUI-$150 level.


Very soon... may be the Time to Buy Calls on GDX or on NUGT

For instance, with GDX at $17.90, and NUGT at $8.33,

a NUGT Sep-$6call cost: $2.60-$3.40, and traded yesterday at $3.00 (x9 cts?)


(in edit) : HUI now trading below $150 : $148.67 - 2.40


11/05/14 Low was $146.005


====: Latest : chg. : 11/05/14 L : close
HUI - : 148.67 : -2.43 : 146.01 : 146.80 :
GDX : $17.70 : -0.20 : $16.45 : $16.59 :
Nugt : $08.04 : -0.29 : $09.51 : $09.80 :


I did buy some NUGT calls yesterday, and so this Turn, if that is what it is, could bring some profit


GLD chart looks good for a Low here too. Gold shares often turn one day before ... All Data : 2-years



Note: GLD/Gold: $111.58: -0.40 // while SLV/Silver: $14.97 : +0.07

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Jim Willie said Texas can expect to get whacked for demanding their gold back

Here's someone's comments on YT


The sudden attack on the Confederate flag and the burning of 6 predominantly Black Churches over the last two weeks, is perhaps the beginning of a backlash against Texas for their demands to have their gold returned. Black ops and sleepers they are the real terrorists.

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Jul : SPY- : Chg : volume/ VIX : GDX: +-chg: -GLD- : Chg: volume: x10.?? WTI.Cr: -DXY-- -Chg.- : --TLT- : Chg : Posts/Views cum'l
01: 207.50 +1.65: 125.M: 16.09 : 17.28 - 0.48: 111.98 - 0.39 : 4.35M: 1,167.8 $56.87* 96.410 +0.894: 115.62 - 1.58: 11, 011 / 109, 0109
02: 207.31 - 0.19: 93.9M: 16.79 : 17.63 +0.35: 111.76 - 0.22 : 3.81M: 1,165.2 $56.50* 96.063 - 0.247: 116.00 +0.38: 10, 021 / 101, 0210


I think there is a decent chance we saw an important Low in Gold shares on July 1st, and maybe on Gold yesterday.

Am I the only one who thinks that?


KITCO writers are unimpressed... while noticing some strong interest in Gold and Silver coins


Gold Acting Tepid At Best, Hits 3.5 Month Low: Gary Wagner - Kitco Video News, Jul 2 2015 4:06PM

Uncertainty To Rule Gold Market Next Week – Analysts - Kitco News, Jul 2 2015 2:32PM

Main Street Bearish On Gold For Fifth Straight Week; Wall Street Slightly Bullish - Kitco News, Jul 2 2015 1:18PM

Gold Down, Hits 3.5-Mo. Low, as Bears Gaining Momentum - Kitco News, Jul 2 2015 1:58PM

100% Surge In Gold & Silver Coin Sales – U.S. Mint - Kitco News, Jul 2 2015 1:27PM

=== ===


Can the metals break their range? Wagner comments on gold’s reaction to Thursday’s weaker-than-expected nonfarm payrolls data and says the metal is acting ‘tepid at best’ right now. With the uncertainty in Europe and the weaker U.S. data, gold should be performing better as a safe-haven asset, but instead hit a 3.5 month low on Thursday morning. Wagner says the weaker data may now delay the U.S. Federal Reserve’s first move on rates.
- Gary Wagner
. . .
Uncertainty will continue to dominate gold next week as analysts expect the market to continue to digest the weaker-than-expected nonfarm payrolls released Thursday, and react to the Greek bailout referendum Sunday.
Looking ahead, in the short-term, most retail investors remain bearish on the yellow metal while market professionals are still uncertain, according to the Kitco News Wall Street vs Main Street Weekly Gold Survey.
This week, 211 people participated in Kitco News’ online survey. Of those voters, 119 people, or 56%, expect to see lower gold prices next week; 62 participants, or 29%, expect to see higher prices next week. Thirty people, or 14%, are neutral on the gold market.
- Kitco Survey
. . .
Bart Melek, head of commodity strategy at TD Securities, said that although the employment data was mildly disappointing, it still doesn’t change expectations that the Federal Reserve will hike rates in September.
“The reality is that any jobs gains over 200,000 is still pretty good,” he said.
Melek added he is expecting prices to remain range-bound and with prices testing the lower end of the range, he is slightly bullish next week, expecting to see a technical bounce. “The fundamentals haven’t changed at all so this would be a purely technical move,” he said.
On the bearish side, Phillip Streible, senior market strategist at RJO Futures, said that investors are becoming more and more disappointed with gold’s inability to rally on market-positive news. He added that geopolitical uncertainty in Europe and Greece should have propelled gold $30 to $40 higher this week.
“I think the only way you are going to make money in the gold market right now is on the downside,” he said. “There is just no reason to buy gold right now.”
. . .
Technically, August gold futures bears have the solid overall near-term technical advantage. Prices are in a six-week-old downtrend on the daily bar chart. Bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at this week’s high of $1,187.60. Bears' next near-term downside price breakout objective is closing prices below solid technical support at the March low of $1,143.80.
- Jim Wycoff



There you go. THE LOW may be in front of their eyes, and they cannot see it !
Or I may be wrong, and the present chart pattern support levels, combined with weak volume, and a full moon, and prove to mean nothing at all. On the other hand, the last article shows that interest in physical gold by coin buyers is way up on last year... and also strong at a time which normally shows seasonal weakness:


“Sales of gold coins by the U.S. Mint have now risen by 150% m/m for the four weeks of June,” said analysts from Barclays in the bank’s Gold Delta report released Monday.

“Total sales have now turned positive for a y/y basis, rising by 20%,” they added.

Based on sales data released by the U.S. Mint, 76,000 ounces of the gold 2015 American Eagle bullion coins were sold in June alone, compared to 21,500 ounces sold in May. This represents an increase in sales for the mint of over 253%.


Stay Alert !

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ACK! ACK AGAIN! Programming buddys from way-back are telling this is happening to their gold sales here in USA too!http://www.zerohedge.com/news/2015-07-03/gold-bullion-dealer-unexpectedly-suspends-operations-due-significant-transactional-d



Gold Bullion Dealer Unexpectedly "Suspends Operations" Due To "Significant Transactional Delays"

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Gold shares (GDX) may be a better buy than Gold from here


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GLD / Gold ... All-data : 3-yrs : 12-mos / 10-d : GBS : HK-2480 : Gold resistance is $1,166 / GLD-$111.5



Let's see if key support at GLD-$110 holds.

So far, the rally looks like a "gap filling exercise". If broken, next stop could be support near $100.

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...Governor Abbott issued the following statement:

“Today I signed HB 483 to provide a secure facility for the State of Texas, state agencies and Texas citizens to store gold bullion and other precious metals. With the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state.”

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