Where Is Gold Going In This Market

[churchill]

Naam Happy

#Gold Surges 7% in #CHF - from 1505 to 1613 Swiss francs Per Ounce

[churchill]

Gold still endures as a wealth protection

'Although demand is growing fast, the supply from mines is flat. Most of the world’s easy high-grade ore has already been mined. Gold is not in a bubble – it represents under 1 per cent of global financial assets. Remarkably few people own gold coins. The total market capitalisation of all of the world’s gold stocks is only a little more than the capitalisation of ExxonMobil and Apple combined.'

http://www.irishtimes.com/newspaper/finance/2011/0906/1224303585605.html

[Naam]

Naam Happy

#Gold Surges 7% in #CHF - from 1505 to 1613 Swiss francs Per Ounce

gold did not surge but the Swiss National Bank weakened the Swiss Franc by a mere announcement that it will defend a EUR/CHF floor of 1.20 with all necessary means. the announcement also affected the USD price of gold which dropped within minutes $ 50/ounce but later recovered $ 30.

[churchill]

Naam Happy

#Gold Surges 7% in #CHF - from 1505 to 1613 Swiss francs Per Ounce

gold did not surge but the Swiss National Bank weakened the Swiss Franc by a mere announcement that it will defend a EUR/CHF floor of 1.20 with all necessary means. the announcement also affected the USD price of gold which dropped within minutes $ 50/ounce but later recovered $ 30.

All in a few hours

And this week' Russian Central Bank to Buy 3 Tons of Gold This Week, RIA Says'

I hope you held onto your miners Naam !

[Naam]

I hope you held onto your miners Naam !

i have sold my miners in december and january. they performed, i cashed in... as simple as that.

p.s. mineweb? =

[edgarfriendly]

very difficult to even get in the store today, impossible to buy/sell unless u got ur queue number,

the everyday residents are in their hundreds outside the unopened mall, running up the stairs to get q numbers and then spend the day staring at the price in the windows...

kinda vulgar, and dam_n annoying to not be able to get a q number without joining the herd!

i foresee this is the new normal, at least for the 'foreseeable future'

i might have to take a trip to ploppaya pattaya if the stores are deserted down there!

grrr...

ef

[joker7]

I bought into AEM [Agnico] at $64. Bottomed out at $55 didnt panic I now see it heading towards >$78.

[Naam]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

[ExpatJ]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Apparently still an effect of the Swiss intervention yesterday- big institutions selling gold to cover their Swiss Franc losses

[flying]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Jai yen yen :jap:

[midas]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Jai yen yen :jap:

yes it will be interesting to compare the rate of drop eventually with..........

20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed

http://theeconomiccollapseblog.com/archives/20-quotes-from-european-leaders-that-prove-that-they-know-that-the-financial-system-in-europe-is-doomed

[flying]

From Harvey's

I know most already know this but......

Swiss Pledge Unlimited Currency Purchases

By Klaus Wille - Sep 6, 2011 5:48 AM CT

The Swiss central bank imposed a ceiling on the franc’s exchange rate for the first time in more than three decades and pledged to defend the target with the "utmost determination."

The Swiss National Bank is "aiming for a substantial and sustained weakening of the franc," the Zurich-based bank said in an e-mailed statement today. "With immediate effect, it will no longer tolerate a euro-franc exchange rate below the minimum rate of 1.20 francs" and "is prepared to buy foreign currency in unlimited quantities."

http://www.bloomberg.com/news/2011-09-06/swiss-national-ba

nk-sets-minimum-exchange-rate-of-1-20-against-the-euro.html

-END-

This is what currency wars do to a nation. The Swiss Franc was really the only good safe haven

even though it had two banks in trouble, namely UBS and Credit First Suisse. Now the only currency with a safe haven status is gold and silver. If you were a Swiss citizen last night and held gold it would be worth:

1,497.00. This morning, that gold would be worth: 1,620.00 for a 10% gain overnight. This is the power of gold.

[Naam]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Jai yen yen :jap:

yes it will be interesting to compare the rate of drop eventually with..........

20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed

http://theeconomiccollapseblog.com/archives/20-quotes-from-european-leaders-that-prove-that-they-know-that-the-financial-system-in-europe-is-doomed

who pray tell mentioned "The Financial System In Europe Is Doomed" besides you?

[Naam]

If you were a Swiss citizen last night and held gold it would be worth: 1,497.00. This morning, that gold would be worth: 1,620.00 for a 10% gain overnight. This is the power of gold.

if you were a Swiss citizen and had changed your Swiss Francs day yesterday before 10.00hrs CET into Dollars or EURos you would have gained 10%...

and if you had played the lotterie last saturday with a fistful of Swiss Francs and won the jackpot then...

thus is the power of arbitrarily publishing bullshit.

source: www.naams_bullshit.org

[ExpatJ]

I think the reason for the fall in gold, the global increase in stock prices, and the sudden drop in cost of bond borrowing for the Spanish/Italian governments in the last few hours is that the ECB must have begun buying up Italian /spanish bonds again- its not being reported yet, but that's my bet...

[Naam]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Apparently still an effect of the Swiss intervention yesterday- big institutions selling gold to cover their Swiss Franc losses

apparently a mere assumption

[churchill]

Naam !

Kazakhstan's central bank said on Wednesday it would be buying up the Central Asian nation's entire gold bullion output until at least 2014-15 to ease its exposure to the sagging dollar.

http://uk.finance.yahoo.com/news/Central-bank-buy-Kazakh-gold-targetukfocus-4238269980.html?x=0

[churchill]

and ! this August its gold reserves rose by 13.1% to $3.95 billion

http://silkroadintelligencer.com/2011/09/07/kazakhstan’s-foreign-reserves-increase-by-08-in-august-central-bank/

produced 21.4 metric tons of gold in the first seven months, an increase of 48% from a year earlier - Blomberg Wire

Edited September 7, 2011 by churchill

[Naam]

an hour ago Naam increased his gold reserves by 50 ounces.

source: http://www.naams_info.org

[churchill]

an hour ago Naam increased his gold reserves by 50 ounces.

source: http://www.naams_info.org

You're in good company ....

Marc Faber - This Will End in Disaster & You Must Own Gold

'You know if you look at the last two to three years, if you owned some equities around the world, if you owned some property, if you owned some gold and if you owned some cash, you didn’t do all that badly. But recently stocks have been down and gold has been up, so I think gold is a good hedge against financial assets.”

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/7_Marc_Faber_-_This_Will_End_in_Disaster_%26_You_Must_Own_Gold.html

and of course your not one of these !! or ...?

NEW YORK (MarketWatch) — “The smart money got out of gold last year.”

http://www.marketwatch.com/story/euro-crisis-helps-gold-shine-2011-09-07

[midas]

an hour ago Naam increased his gold reserves by 50 ounces.

source: http://www.naams_info.org

[ExpatJ]

an hour ago Naam increased his gold reserves by 50 ounces.

source: http://www.naams_info.org

I did the same, but one month ago

[Naam]

Massive sales of gold by the Central Bank of the United Antarctic Penguin & Polarbear Republic depressed the price of the yellow metal yesterday. Informed circles report that a total of 11 ounces were sold to the highest bidder.

source: http://www.naams_bullshit-info.org

[BEENTHEREDONETHAT]

I bought gold in 1980 for a bit over $800 so when it reaches $2,856 it will be about equal in 1980 dollars to what I paid for it. I'm patiently waiting.

based on the inflation data CPI which is 82 in 1980 and 211 at present and extrapolating this data and applying the method of partial differentiation on this

1$ in 1980 = 3.57$ today

Source(s):

www.inflationdata.com

[midas]

Buying gold and silver in liquid ban in France on 1 September 2011

http://translate.google.nl/translate?sl=auto&tl=en&js=n&prev=_t&hl=nl&ie=UTF-8&layout=2&eotf=1&u=http://www.egaliteetreconciliation.fr/Achat-d-or-et-d-argent-en-liquide-interdits-en-France-au-1er-septembre-2011-7960.html

[midas]

gold dropping like a stone. what do the experts have to say? perhaps the central bank of the Christmas Islands sold a couple of ounces?

Jai yen yen :jap:

yes it will be interesting to compare the rate of drop eventually with..........

20 Quotes From European Leaders That Prove That They Know That The Financial System In Europe Is Doomed

http://theeconomiccollapseblog.com/archives/20-quotes-from-european-leaders-that-prove-that-they-know-that-the-financial-system-in-europe-is-doomed

who pray tell mentioned "The Financial System In Europe Is Doomed" besides you?

well you must concur with Mish Shedlock's summary to some extent otherwise you wouldn't be able to

account for your information yesterday on http://www.naams_info.org ?

"

If the crisis in Europe is over, gold will pull back hard, regardless of what the dollar does and regardless of what Bernanke does.

However, today is just "Another Futile We are Saved" type of day. Nothing has changed, no problems have been solved, in Europe, In Japan, or in the US."

http://globaleconomicanalysis.blogspot.com/2011/09/stocks-rally-in-yet-another-futile-we.html

[Naam]

Buying gold and silver in liquid ban in France on 1 September 2011

runour has that much more drastic and restrictive legislation has been prepared in Germany.

[midas]

If the crisis in Europe is over ( or appears to be over ? ), gold will pull back hard, regardless of what the dollar does and regardless of what Bernanke does."

http://globaleconomicanalysis.blogspot.com/2011/09/stocks-rally-in-yet-another-futile-we.html

I am wondering if what Karl Denninger describes below here could be a potential danger to the gold price? Because if they achieve what looks like some kind of ‘ recovery ‘in Europe’s stock-market even through these kind of false measures , then as Mish said could this result in a hard pullback in gold prices?

Oh No - Official Fraud In Europe Now?

" Remember that this "event" in the United States - Kanjorski's hearing - marked the bottom in the markets in 2009 almost to the literal day.

The reason is that it removed the need to let anyone see any sort of truth in a bank balance sheet beyond the fact that you could pay the light bill. It also led to the FDIC seizing dozens of institutions in the following two years where the actual hidden losses were as high as 40% of the bank's alleged "assets"!"

http://market-ticker.org/akcs-www?post=193641

Edited September 8, 2011 by midas

[churchill]

Currency wars beginning ....... So gold & silver are the natural place to let off all the steam ... let them rise

S.Korea steps up war on kimchi bonds,rejigs taxes

http://www.reuters.com/article/2011/09/07/korea-economy-tax-idUSL3E7K708720110907

Caging unilateral risk

http://ftalphaville.ft.com/blog/2011/09/08/672631/caging-unilateral-risk/

[12DrinkMore]

Buying gold and silver in liquid ban in France on 1 September 2011

runour has that much more drastic and restrictive legislation has been prepared in Germany.

Rumours, rumours

You generally come down very hard on anybody citing rumours and unsubstantiated information.

So come on then, abide by your own rules and give us the facts.....