Where Is Gold Going In This Market

[cloudhopper]

I am sure China is building its Gold Reserves and this would never be officially confirmed , and if it were Gold would rocket ! .....

China should significantly boost gold in reserves

'Meng Qingfa, a researcher with China Chamber of International Commerce, was quoted by the International Business Daily as saying that China should eventually boost its gold reserves to a level equal to that held by the United States.'

more .. http://malaysia.news...ld-21231dd.html

Expanded here - http://www.zerohedge.com/article/china-commerce-ministry-says-country-should-buy-more-gold-diversify-dollar-holdings

[lannarebirth]

Some fairly bold assertions here -

http://www.ft.com/cm...144feabdc0.html

I have forgotten my FT password. Could you post the article's title please? TIA

Never mind. Got it.

Edited October 28, 2010 by lannarebirth

[cloudhopper]

G-20 Pledges to Avoid Devaluations in Push to Defuse Global Trade Tensions

"Today's agreement will nevertheless encourage Asian nations to allow their exchange rates to rise without having to worry they will end up doing so alone...

Updated here - http://globaleconomicanalysis.blogspot.com/2010/10/g-20-currency-agreement-to-agree.html

edit-better link

Edited October 28, 2010 by cloudhopper

[churchill]

A bold prediction !

Gold & Silver Commercial Signal Failure Today

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/29_Gold_%26_Silver_Commercial_Signal_Failure_Today.html

[churchill]

Gold Will Outlive Dollar Once Slaughter Comes: John Hathaway

http://www.bloomberg.com/news/2010-10-29/gold-will-outlive-dollar-once-slaughter-comes-commentary-by-john-hathaway.html

[churchill]

The Mother Of All Velocity Explosions

http://gold.approximity.com/The_Mother_Of_All_Velocity_Explosions.html

[cloudhopper]

Gold Will Outlive Dollar Once Slaughter Comes: John Hathaway

http://www.bloomberg...n-hathaway.html

"Whether prolonged or sudden, the transition to a stable monetary system will become possible only when the shortcomings of the status quo become unbearable. Such a transition is, by definition, nonlinear. So central-bank soothsaying based on the extrapolation of historical data and the repetition of conventional wisdom offers no guidance on what lies ahead."

He gets it.

[cloudhopper]

A bold prediction !

Gold & Silver Commercial Signal Failure Today

http://kingworldnews...lure_Today.html

"You should start to see gold firm up by 5 am EST. "

This guy doesn't.

[churchill]

Global imbalances? Blame the west

'QE2 will only make matters worse. It will increase distrust of the US. It has already caused a forced competitive devaluation of the dollar. It will prolong the domestic excesses of the US economy and thus cannot help rectify global imbalances. It will cause further flight from money as a store of wealth into hard assets, like commodities, that will feed back into inflation (and is already doing so in China). It will ultimately boost the cost of US sovereign debt when foreigners stop buying assets in a currency so wantonly debased by the authorities. If that helps the world get better, we’ll be damned!'

http://ftalphaville.ft.com/blog/2010/10/29/387571/global-imbalances-blame-the-west/

[churchill]

NY Fed overstated gold depositors and their holdings, FT discovers

http://www.gata.org/node/9229

[cloudhopper]

NY Fed overstated gold depositors and their holdings, FT discovers

http://www.gata.org/node/9229

I don't get this one Churchill seems like a non-issue re the OP.

[edgarfriendly]

i dont get 99.99% of the shit 99.99% of the 'posters' on here come out with.

ef

:jap:

link, link, link, link, link, link....

[flying]

A bold prediction !

Gold & Silver Commercial Signal Failure Today

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/29_Gold_%26_Silver_Commercial_Signal_Failure_Today.html

It is doing well here in the US today.

Would like to see it close above the $1350/0z mark

Currently at $1358.80

[flying]

Well markets closed & gold stayed up.

closing at $1360.80.....up almost 4% for the month

Silver never out done closed up 3% at $24.77 & up over 12% for the month

Edited October 29, 2010 by flying

[cloudhopper]

A bold prediction !

Gold & Silver Commercial Signal Failure Today

http://kingworldnews...lure_Today.html

"You should start to see gold firm up by 5 am EST. "

This guy doesn't.

Well I have to admit shock and awe - he only missed it by an hour.

[cloudhopper]

i dont get 99.99% of the shit 99.99% of the 'posters' on here come out with.

ef

:jap:

link, link, link, link, link, link....

That's OK Edgar, .01% is a good start and your mom can explain how links work.

[Naam]

Well markets closed & gold stayed up.

closing at $1360.80.....up almost 4% for the month

Silver never out done closed up 3% at $24.77 & up over 12% for the month

4.00% in USD

1.14% in €UR

0.24% in JP¥

:jap:

[flying]

Well markets closed & gold stayed up.

closing at $1360.80.....up almost 4% for the month

Silver never out done closed up 3% at $24.77 & up over 12% for the month

4.00% in USD

1.14% in €UR

0.24% in JP¥

:jap:

Now you see that?

If you would listen to Mrs Naam & move to the GNOE

you would be happy today too

[cloudhopper]

Another fractional reserve gold sighting.

http://www.reuters.com/article/idUSHAN46777220101029

I wonder if this is essentially what the sovereigns are doing...

[Naam]

Now you see that?

If you would listen to Mrs Naam & move to the GNOE

you would be happy today too

the GNoE™ doesn't want foreign retirees. if it wasn't for that Osama bàstàrd we would be still living there happily ever after

[flying]

the GNoE™ doesn't want foreign retirees. if it wasn't for that Osama bàstàrd we would be still living there happily ever after

Well yesterday I would have given you the all clear.....Today they want to crank the Terror spin up again.

Elections in 3 days ya know

[cloudhopper]

Embry interview-

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/10/29_John_Embry.html

[churchill]

A big week coming !

Could we get a USD Spike - Gold crash ? I don't think so but this from Schmidt's Gold Thoughts -

http://www.kitco.com/ind/Schmidt/oct292010.html

"Risk now is not how low will U.S. dollar fall, but how high will it rise. Bernanke and his Keynesian hooligans have created another asset price distortion. This Gold bubble may go the way of all predecessor bubbles, into pain and agony."

and from Pimco

"Run Turkey, Run•The Fed’s announcement of a renewed commitment to Quantitative Easing has been well telegraphed and the market’s reaction is likely to be subdued.

•We are in a “liquidity trap,” where interest rates or trillions in asset purchases may not stimulate borrowing or lending because consumer demand is just not there.

•The Fed’s announcement will likely signify the end of a great 30-year bull market in bonds and the necessity for bond managers and, yes, equity managers to adjust to a new environment'

....... 'Still, while next Wednesday’s announcement will carry our qualified endorsement, I must admit it may be similar to a Turkey looking forward to a Thanksgiving Day celebration. Bondholders, while immediate beneficiaries, will likely eventually be delivered on a platter to more fortunate celebrants, be they financial asset classes more adaptable to inflation such as stocks or commodities, or perhaps the average American on Main Street who might benefit from a hoped-for rise in job growth or simply a boost in nominal wages, however deceptive the illusion. Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic. Granted, the U.S. has, at times, paid down its national debt, but there was always the assumption that as long as creditors could be found to roll over existing loans – and buy new ones – the game could keep going forever. Sovereign countries have always implicitly acknowledged that the existing debt would never be paid off because they would “grow” their way out of the apparent predicament, allowing future’s prosperity to continually pay for today’s finance"

http://www.pimco.com/Pages/RunTurkeyRun.aspx

[flying]

This Gold bubble may go the way of all predecessor bubbles, into pain and agony."

You know these folks who keep saying gold bubble are nuts.

All we have seen so far in Golds rise is a dropping dollar as a cause.

When the gold bubble starts they will be shocked.

[crusader79]

Latest from the loquacious Schiff (his speculation about the true thinking/motivation of the Fed is interesting):

And the normally very reticent Zulauf:

http://quoteainsuran...ag=felix-zulauf

[churchill]

Latest from the loquacious Schiff (his speculation about the true thinking/motivation of the Fed is interesting):

And the normally very reticent Zulauf:

http://quoteainsuran...ag=felix-zulauf

I agree with Schiff perhaps a short term spike in USD and a sell off in gold - But if it happens only short term - I think Gold and Silver are greatly underowned and being small markets could be in for big up moves once pension funds and all want to and need to increase their exposure /

[churchill]

Is not the world currency market a mess with no agreement in sight at the coming G20, The Yuan is undervalued but they will not revalue quickly without causing problems , Bernanke & Co need the USD lower so to help create jobs and need to keep printing to buy bonds,- The Yen , Swiss Franc commoditiy currencies are getting stronger as people look for somewhere to go to escape/ The Euro with its own problems - Spain / Greece / Ireland

The US needs to keep on spending but it cannot afford to do so - It needs to save / The housing market / mortgages are a distaster /

I think the US needs to reset with lower expectations and probably quite a bit of hardship ?

As the Fed prints stocks / PM's higher - and What will happen as yet more funds come to S/E Asia ?

Many don't agree but is GB leading the way ? Bite the bullet , cut spending , pensions etc - GBP Heading higher ?

Edited October 31, 2010 by churchill

[DarwinK]

Is not the world currency market a mess with no agreement in sight at the coming G20, The Yuan is undervalued but they will not revalue quickly without causing problems , Bernanke & Co need the USD lower so to help create jobs and need to keep printing to buy bonds,- The Yen , Swiss Franc commoditiy currencies are getting stronger as people look for somewhere to go to escape/ The Euro with its own problems - Spain / Greece / Ireland

The US needs to keep on spending but it cannot afford to do so - It needs to save / The housing market / mortgages are a distaster /

I think the US needs to reset with lower expectations and probably quite a bit of hardship ?

As the Fed prints stocks / PM's higher - and What will happen as yet more funds come to S/E Asia ?

Many don't agree but is GB leading the way ? Bite the bullet , cut spending , pensions etc - GBP Heading higher ?

Well maybe....but maybe not:

http://www.pimco.com/Pages/GCBFocusJuly2010FactsontheGround.aspx

[crusader79]

Well, this cheered me up....think I'll go back to bed:

Therefore, I am confident in predicting the following sequence of events:

• By March of 2011, once higher commodity prices reach the marketplace, monthly CPI will be at an annualized rate of not less than 5%.

• By July of 2011, annualized CPI will be no less than 8% annualized.

• By October of 2011, annualized CPI will have crossed 10%.

• By March of 2012, annualized CPI will cross the hyperinflationary tipping point of 15%.

2012 will be the bad year: I predict that hyperinflation's tipping point will be no later than the first quarter of 2012. From there, it will accelerate. By the end of 2012, I would not be surprised if the CPI for the year averaged 30%.

By that point, the rest of the economy—unemployment, GDP, all the rest of it—will be in the toilet. By that point, the rest of the economy will no longer matter: The collapsing dollar will make 2012 the really really bad year of our Global Depression....

http://gonzalolira.b...s-arriving.html

[Pranakhon]

Subject:: Marc Faber's recent prognosis on gold

A comment on a zerohedge.com thread had a poster claiming that recently Faber said after climbing to $1,500 gold, along with bonds, would crash in a deflataionary colllaspe. I listened to rhe Bloomberg interview attached to the article and never heard that, only that there would be a correction and then further upward movement in early '11. Can anyone confirm Faber did actually say that and/or express your views on the matter. I understand the deflationary effects on all assets but a pog crash??!! TIA..