enrieb Posted July 3, 2008 Report Share Posted July 3, 2008 Gold mine found in Ireland http://news.bbc.co.uk/1/hi/world/europe/7486799.stm A gold find is being claimed in a small village in Ireland. A local mining company says that the find in County Monaghan could be the biggest ever untapped gold deposit in Britain or Ireland. They say there could be possibly 1 million ounces but will it be expensive to extract. Link to comment Share on other sites More sharing options...
gwizzie Posted July 3, 2008 Report Share Posted July 3, 2008 Gold mine found in Ireland http://news.bbc.co.uk/1/hi/world/europe/7486799.stm A gold find is being claimed in a small village in Ireland. A local mining company says that the find in County Monaghan could be the biggest ever untapped gold deposit in Britain or Ireland. They say there could be possibly 1 million ounces but will it be expensive to extract. I live about 20 miles from it, CDG was/ is on my watchlist. Proven resource is 1g/t. I dont like to poo-poo good news but i think the media have got a bit ahead of themselves and used the drill results to inject a bit of euphoria into an otherwise bleak public sentiment. Link to comment Share on other sites More sharing options...
Gatesy Posted July 3, 2008 Report Share Posted July 3, 2008 Dumb and Dumber on radio 4 Today this morning. Paulson and Darling really are a couple of plonkers. Darling still bleeting on about how "well placed" Britain is to ride out economic storms, Paulson stuttering and spluttering about how the UK and US are "working together on working things through going forwards" and other such shite. I would have liked to hear Humphries do more of a number on them to be honest; he was getting warmed up but didn't really stick the boot in like we know he can. http://news.bbc.co.uk/today/hi/today/newsi...000/7486903.stm Link to comment Share on other sites More sharing options...
kernull Posted July 3, 2008 Report Share Posted July 3, 2008 but my GOD, I hope he hikes - it'd really cement his reputation as a cold, hard central banker ! does he actually has power to do that? There are 6 members + 15 governors in the ECB: http://www.ecb.eu/ecb/orga/decisions/govc/html/index.en.html How will they vote? Looks to me Trichets job is complaining about inflation only, but usually market expects the obvious and that is not happening at the end. I am so tempted to short EUR, it technically overbought and toped. So, it may drop hard. Link to comment Share on other sites More sharing options...
bitbigt Posted July 3, 2008 Report Share Posted July 3, 2008 I predict we're now on the starting block for a serious push on 950 within the day. IF we pass it on first try (not so likely admitedly) then it'll go sky high. But I'm also worried about a PPT knockdown (which, surprisingly, hasn't happenned over last few days) I'd say there 's a 80% chance we'll try for 950 today, 20% chance we'll pass it, and 30% chance PPT will ruin the party Link to comment Share on other sites More sharing options...
kernull Posted July 3, 2008 Report Share Posted July 3, 2008 well, 4.25% so, now what??? do we go up from here? Link to comment Share on other sites More sharing options...
romans holiday Posted July 3, 2008 Report Share Posted July 3, 2008 I think the easiest, but not the cheapest method, would be to give Michael O'Kane a ring at the NZ Mint. They will store it for you. So all can be done via internet banking in NZ$. Hi Steve, mission accomplished. Thanks again for the info. I found the NZ mint great to do business with as everything went smoothly. They will store my new Gold kiwis at 2%..... which I made sure to pay for in advance. Link to comment Share on other sites More sharing options...
romans holiday Posted July 3, 2008 Report Share Posted July 3, 2008 well, 4.25% so, now what??? do we go up from here? Of course we do....................................after we go down a little...... then sideways..... then up...... then down... .....then sideways again. As for interest rates... I think the ECB will go another 25 points next time round. The US dollar will continue to weaken. As for stocks........ Good article here by John Browne; http://financialsense.com/fsu/editorials/s.../2008/0702.html Link to comment Share on other sites More sharing options...
alexreeve Posted July 3, 2008 Report Share Posted July 3, 2008 I predict we're now on the starting block for a serious push on 950 within the day. IF we pass it on first try (not so likely admitedly) then it'll go sky high. But I'm also worried about a PPT knockdown (which, surprisingly, hasn't happenned over last few days) I'd say there 's a 80% chance we'll try for 950 today, 20% chance we'll pass it, and 30% chance PPT will ruin the party Have you seen the cgnao rumour? http://www.greenenergyinvestors.com/index.php?showtopic=3534 Link to comment Share on other sites More sharing options...
romans holiday Posted July 3, 2008 Report Share Posted July 3, 2008 Hmmm.... I wonder if gold might have embarked on Wave 3. http://news.goldseek.com/AlfField/1215005723.php Link to comment Share on other sites More sharing options...
bitbigt Posted July 3, 2008 Report Share Posted July 3, 2008 Have you seen the cgnao rumour? http://www.greenenergyinvestors.com/index.php?showtopic=3534 No - I missed that. Thanks for pointing it out! It says "between now (Wed) and tomorrow (thurs)" so they're running out of time. My 'predictions' are obviously just educated guesses, based upon obsessive reading around market issues. I sense that we're in one of those periods when a lot changes. And so far its all been good for gold. Everyones seeing 950 as a target and an obstacle, and I think there's a desire to give it a try soon (maybe even today). If it yields, then the confidence boost will be massive, and people will see 1000, 1030 12,000... as very achievable... as the fundamentals would argue for! Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 3, 2008 Author Report Share Posted July 3, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home ECB Executive Board member Lorenzo Bini Smaghi said June 17 that one quarter-point rate increase ``should be enough'' to rein in inflation. Who put this retard on that board? Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 3, 2008 Author Report Share Posted July 3, 2008 ...Darling still bleeting on about how "well placed" Britain is to ride out economic storms, ... Another one... Link to comment Share on other sites More sharing options...
marmite Posted July 3, 2008 Report Share Posted July 3, 2008 No - I missed that. Thanks for pointing it out! It says "between now (Wed) and tomorrow (thurs)" so they're running out of time. My 'predictions' are obviously just educated guesses, based upon obsessive reading around market issues. I sense that we're in one of those period when a lot changes. And so far its been good for gold. Everyones seeing 950 as a target and an obstacle, and I think there's a desire to give it a try soon (maybe even today). If it yields, then the confidence boost will be massive, and people will see 1000, 1030 12,000... as very achievable. Jobs number 62,000 expected 50,000 but could have been 100,000 This could be a case of bad news spun into good news ( not as good as it could be ) If they are going to whack gold, they will do it now in time for the bank holiday weekend Down a tad now 941 - 942 Link to comment Share on other sites More sharing options...
mattyboy Posted July 3, 2008 Report Share Posted July 3, 2008 If they are going to whack gold, they will do it now in time for the bank holiday weekend Down a tad now 941 - 942 Here they go! Link to comment Share on other sites More sharing options...
sossij Posted July 3, 2008 Report Share Posted July 3, 2008 Wow! Check that out! $944 to $935 straight down. Link to comment Share on other sites More sharing options...
romans holiday Posted July 3, 2008 Report Share Posted July 3, 2008 927... also small rally on stocks Link to comment Share on other sites More sharing options...
bitbigt Posted July 3, 2008 Report Share Posted July 3, 2008 well, 4.25% Madness - Eurozone rate goes up, so dollar strengthens significantly [so gold etc fall] ...someone please explain Link to comment Share on other sites More sharing options...
bitbigt Posted July 3, 2008 Report Share Posted July 3, 2008 Madness - Eurozone rate goes up, so dollar strengthens significantly [so gold etc fall] ...someone please explain ...PPT intervention? .."OK (w)banker buddies, if they raise the base rate in Europe today, buy loads of dollars immediately" EDIT: 950 will have to wait until next week Link to comment Share on other sites More sharing options...
El Dali Posted July 3, 2008 Report Share Posted July 3, 2008 927... also small rally on stocks Is this effect on Gold not pretty much what we should be expecting with an ECB rate rise? Will be interesting to see where hard support lies.... Link to comment Share on other sites More sharing options...
bitbigt Posted July 3, 2008 Report Share Posted July 3, 2008 Is this effect on Gold not pretty much what we should be expecting with an ECB rate rise? Will be interesting to see where hard support lies.... I would have expected the Euro to strengthen and the dollar to weaken. The weaker dollar should then push gold, oil and other commodity prices up (since they're just alternative 'currencies' nowadays) But, the dollar has instead strengthened by 1% and thats reflected in just over a 1% drop in gold. So this gold drop is just a dollar story!! With oil up at 146 before the Eurorate decision, the PPT perhaps couldn't allow another 2 dollar jump in oil after the Eurozone decision? ...the devil in me is now half expecting investors to see through this (once they've ragained the composure today) and there may be a counter rally... Link to comment Share on other sites More sharing options...
Justin Thyme Posted July 3, 2008 Report Share Posted July 3, 2008 Madness - Eurozone rate goes up, so dollar strengthens significantly [so gold etc fall] ...someone please explain The rate hike had been priced in for about a week and a half so a classic "buy rumour, sell fact" on eurodollar which weakens gold. Trichet's statement apparently wasn't hawkish enough and the payroll numbers weren't as bad as they could have been - even though they were worse than estimates . My guess on the size of the drop is that there were lot of sell orders just in case Trichet held. They were probably positioned - like mine - around $940 although, I didn't figure the hike and worse -than-estimate numbers would trigger it. What a daft world, eh ? Link to comment Share on other sites More sharing options...
headmelter Posted July 3, 2008 Report Share Posted July 3, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home Who put this retard on that board? Is he the ECBs equivilant to Blancflower at the BoE? Maybe every CB has to have a numpty. Link to comment Share on other sites More sharing options...
drbubb Posted July 3, 2008 Report Share Posted July 3, 2008 = = CLOSE-UP = = = The OIH tends to TURN a few days (to a few weeks) before OIH. These turns may be more evident on this six months chart ... update NOTICE: in the chart above: 1/ The second low (labelled "2") preceded at the largest and most powerful move UP in Oil/USO. What is interesting about that low, is that the Oil Holders (OIH) had already begun an upthrust as USO was making its low. To put it another way, that important Low was UNCONFIRMED by OIH. 2/ What we are seeing now is a high in oil (USO) which is not being confirmed by OIH , which is already falling away. 10 DAYS: Oil/USO versus OIH ... update Investors began to sell OIH heavily yesterday. Could this be a warning that the Oil peak is coming within days? // see: Oil Thread Link to comment Share on other sites More sharing options...
El Dali Posted July 3, 2008 Report Share Posted July 3, 2008 I would have expected the Euro to strengthen and the dollar to weaken. The weaker dollar should then push gold, oil and other commodity prices up (since they're just alternative 'currencies' nowadays) But, the dollar has instead strengthened by 1% and thats reflected in just over a 1% drop in gold. So this gold drop is just a dollar story!! With oil up at 146 before the Eurorate decision, the PPT perhaps couldn't allow another 2 dollar jump in oil after the Eurozone decision? ...the devil in me is now half expecting investors to see through this (once they've ragained the composure today) and there may be a counter rally... My thinking was simply that a move by (any) central bank toward mitigation of inflation will have a temporarily detrimental effect on Gold. Simply because Gold is the classic inflation hedge (the best there is!). Bigger picture : This makes no difference IMO, (providing the FED don't raise rates in a big way) Gold will fly in latter 1/2 of '08! Link to comment Share on other sites More sharing options...
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