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Am behind on my reading here so apologies if this has been posted already:

 

Armoured trucks. . .

 

So many investors have turned to gold during the recession that the HSBC bank on New York’s Fifth Avenue cannot cope with the amount of bullion being kept in its vaults, according to a report in the Wall Street Journal today. As a result, fleets of armoured security trucks have been leaving Manhattan, loaded with gold bars and coins for safe-keeping elsewhere.. . .

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Why would you want to let the world know you intend to buy more gold? This report smells like a reverse Brown's bottom.

"It will get the gold if its bid is successful and at the price it has offered,” said the official.

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Am behind on my reading here so apologies if this has been posted already:

 

Armoured trucks. . .

So many investors have turned to gold during the recession that the HSBC bank on New York’s Fifth Avenue cannot cope with the amount of bullion being kept in its vaults, according to a report in the Wall Street Journal today. As a result, fleets of armoured security trucks have been leaving Manhattan, loaded with gold bars and coins for safe-keeping elsewhere.. . .

I don't understand this. Where has the extra Gold come from? Just because the price has increased, and perhaps is owed by different people, the volume of Gold hasn't. Has gold really been flowing into NYC for the last few years?

 

Is it being moved to the far east for safekeeping, perhaps? HSBC has a very big presence in the far east.

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I don't understand this. Where has the extra Gold come from? Just because the price has increased, and perhaps is owed by different people, the volume of Gold hasn't. Has gold really been flowing into NYC for the last few years?

 

Is it being moved to the far east for safekeeping, perhaps? HSBC has a very big presence in the far east.

One of the reports said that HSBC inherited the gold storage business when it took over Republic Bank and now they are getting out of that business. So no surprise if the holdings need to be moved.

 

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Anyone have any opinions about Swiss bullion rounds? Seem even cheaper than Krugerrands and have a nice simple Swiss look.

 

http://www.coininvestdirect.com/main.php?a=12&id=328

 

Why are they classified as bullion rounds rather than coins? They look like coins, is there a technicality that makes them "not coins"?

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Why are they classified as bullion rounds rather than coins? They look like coins, is there a technicality that makes them "not coins"?

 

I think a coin is generally:

 

Issued by government backed issuer

Denominated in fiat, which is the minimum price they can be exchanged (if still legal tender)

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I don't understand this. Where has the extra Gold come from? Just because the price has increased, and perhaps is owed by different people, the volume of Gold hasn't. Has gold really been flowing into NYC for the last few years?

 

Is it being moved to the far east for safekeeping, perhaps? HSBC has a very big presence in the far east.

 

ETF Securities have two types of precious metals ETFs... one that just works on the price (and is backed by AIG :o ), and also physical ETFs, which are backed up by physical metals, and they use HSBC as the custodian.

 

I know what everyone thinks about ETFs, and are sceptical about how much is actually held in relation to the amount invested in these products, but this may account for increased holdings of the metals in HSBC's vaults.

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Nice email from Jim Sinclair, lol:

 

COT loses when it takes on governments.

 

COT loses badly when it takes on persistent governments.

 

COT gets creamed when the US dollar trades below .7400 and persistent government are

persistent.

 

COT expires when delivery problems occur on any futures exchange, the dollar trades under

.7400 and persistent government persist.

 

COT does the death rattle when COT takes on persistent governments that do persist, the

dollar trades under .7400, delivery problems occur on any futures exchange and there is a

run on the bank of ETFs who "own" more gold than anyone could have bought in the physical

market, straining ones imagination enough to read the prospectus.

 

Junior precious metals shares and junior producers do their 1980 thing when the run on ETFs

takes place.

 

Then Christmas comes?

 

India plans to buy more gold from IMF

By Mandakini Raina Nov 24 2009 , New Delhi

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United States Mint has suspended sales of gold and silver eagles

 

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=161237

 

Also this From a comment over on ZH -

 

Uh-Oh Benny Boy!

 

Just got this EM from APMEX.

 

Dear XXXX:

 

The United States Mint has suspended sales of gold and silver yet again. 2009 has seen an unprecedented demand for the 2009 Gold American Eagles and 2009 Silver American Eagles as investors have clamored to secure their assets and protect their wealth against the rising tide of inflation.

This suspension in sales is temporary as the U.S. Mint continues to produce these highly sought after coins. At APMEX, we have a very limited supply of both 2009 Gold American Eagle and 2009 Silver American Eagle coins in stock and ready to ship. Buy your gold and silver bullion coins now while they are still available in the marketplace.

Mint shortages have traditionally caused a significant increase in premium – however, at APMEX, we still have these coins available at very reasonable prices. Buy your gold and silver coins today before market conditions change more and prices are driven up from excessive demand.

The news from the U.S. Mint comes on the heels of the recent news of gold's all-time highs. It seems like every day, gold reaches a new high! Already this morning, gold reached $1,186.30 per ounce as investors continue to react to major financial news about gold.

News like this will only drive demand and prices higher, and supplies lower. Get your 2009 Gold American Eagle and 2009 Silver American Eagle coins at APMEX while we still have a supply to meet our customer's needs.

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Did anyone just see the BBC one show? Public phase?

 

 

Gold ramping on the BBC. OMG :o

 

All I hear everyday is stories of sheeple still selling their Gold. When will they wake up?

 

Wait until they realise how cheap silver is...

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http://newsvote.bbc.co.uk/2/hi/business/8377966.stm

World Bank approves $1.5bn Mexico loan

The Palace of Fine Arts in Mexico City

Mexico has made progress in structural reform, says the World Bank

 

The World Bank has approved a $1.5bn (£900m) loan to support Mexico's economic stimulus packages which aim to help it recover from the downturn.

 

The loan will help to boost government efforts to stimulate the job market and support financial regulatory reform, the bank said.

 

It added that Mexico had already made progress in implementing reforms.

 

In September, the bank agreed to loan India $4.3bn to boost credit to companies and improve infrastructure.

 

So if i read this correctly the IMF gives loans India $4.3 for building roads, which they then turn around and buy even more gold back off the IMF...

 

Good deal, wonder if they can do it again. :lol:

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Interesting video BTW. ( 12.190 tonnes gold + 487.611 tonnes silver stored by GM)

 

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

 

G O L D M O N E Y A N N O U N C E M E N T

 

New Developments at GoldMoney

 

Dear GoldMoney Customer,

 

We constantly strive to offer you the safest and most convenient way for buying and storing precious metals.

 

We have recently implemented three new services for our customers. You can now access these services by logging into your CAP-Verified Holding.

 

Precious Metals Vault video in the Governance section

-----------------------------------------------------

Thanks to our storage partner, VIA MAT International, we are pleased to offer you a rare and exclusive look into a state-of-the-art high security precious metals vault. All of the gold and silver bars shown in this video are a part of the precious metals held by our customers in the vault.

 

SAS 70 Reports in the Governance section

----------------------------------------

We are pleased to provide you with the SAS 70 Type II audit reports from our auditor, Deloitte, regarding their review of GoldMoney's governance procedures and IT systems.

You can see all of the reports that our auditors have produced to date since we first began these reviews in April 2004.

 

GoldMoney Referral Programme

----------------------------

You can now recommend GoldMoney to your friends and family and benefit from any precious metals purchases they make.

Just create a unique Referrer Code and make sure they quote your Referrer Code when signing-up for a GoldMoney Holding.

 

We hope these new developments will continue to satisfy your high expectations and allow you to enjoy GoldMoney's service to purchase and store precious metals online.

 

GoldMoney - secure, convenient, trustworthy.

 

Kind regards,

GoldMoney Relationship Management Team

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I find this chart highly relevant and also very informative. Therefore a bump of my own post. :P

 

It's the same message as "gold climbs when real interest rates are negative", only, it is much more obvious from the chart.

 

The time to be in gold is when you can't earn money with an account that pays the Federal Funds Rate.

 

comparison2.png

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Did anyone just see the BBC one show? Public phase?

 

 

Gold ramping on the BBC. OMG :o

 

Was it "blink and you miss it" ? I just had a quick look on iPlayer and skipping through didn't see anything. I can't bring myself to sit through such banal crap to find it to be honest, unless you know what time that piece was on?

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USD 1189.90

EUR 785.93 (must be close to the all-time euro high)

 

Pushing up in after-hours trading.

 

USD 1200 beckons. :) Will it correct before then?

 

Dollar down against the euro.

 

USD 1.5143 = 1 euro

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USD 1189.90

EUR 785.93 (must be close to the all time euro high)

 

Pushing up in after hours trading.

 

USD 1200 beckons. :) Will it correct before then?

 

Dollar down against the euro.

 

USD 1.5143 = 1 euro

I'd like to see GBP/USD in the high 1.40's.

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USD 1189.90

EUR 785.93 (must be close to the all time euro high)

 

Pushing up in after hours trading.

 

USD 1200 beckons. :) Will it correct before then?

 

Dollar down against the euro.

 

USD 1.5143 = 1 euro

 

http://gold.approximity.com/since1999/Gold_EUR.html

Gold_EUR.png

 

http://gold.approximity.com/gold-silver_watch.html

Gold-EUR_Scatter_LOG_GUESS.png

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Interesting video BTW. ( 12.190 tonnes gold + 487.611 tonnes silver stored by GM)

 

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

 

G O L D M O N E Y A N N O U N C E M E N T

 

Precious Metals Vault video in the Governance section

-----------------------------------------------------

Thanks to our storage partner, VIA MAT International, we are pleased to offer you a rare and exclusive look into a state-of-the-art high security precious metals vault. All of the gold and silver bars shown in this video are a part of the precious metals held by our customers in the vault.

 

 

Kind regards,

GoldMoney Relationship Management Team

 

I didn't like the bit where they had the door open ! Quick close it again !!

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