Where Is Gold Going In This Market

[flying]

Also...................

Feb. 29 Comex March silver futures first notice day

Feb. 29 Comex March copper futures first notice day

Feb. 29 Nymex March palladium futures first notice day

Last night Harvey Organ said:

"This is the first time in quite a while that gold and silver rose big time a day before first day notice. The bankers try and influence our longs not to take delivery so they generally raid. Today was different."

Guess Harvey spoke too soon

Edited February 29, 2012 by flying

[LannaFarang]

Bit of a free fall as Bernake is testifying still and looking less and less like QE3 on the table.

Don't follow the herd. Bernanke is lying.... again. QE3 is already here. Look at the massive increase in unadjusted M2 numbers over the past couple of months. And the increase in assets on the Fed's balance sheet. Where have they come from....the tooth fairy?

The best rule to follow is to listen to what Bernanke says he is doing and to realise that he is really doing the opposite.

[Jayman]

Bit of a free fall as Bernake is testifying still and looking less and less like QE3 on the table.

Don't follow the herd. Bernanke is lying.... again. QE3 is already here. Look at the massive increase in unadjusted M2 numbers over the past couple of months. And the increase in assets on the Fed's balance sheet. Where have they come from....the tooth fairy?

The best rule to follow is to listen to what Bernanke says he is doing and to realise that he is really doing the opposite.

Not about if I believe it but rather the market listens and believes it. You can't deny that gold dropped $100 whether you believe what he said or not is not the point.

http://www.bloomberg.com/news/2012-02-29/gold-falls-most-this-year-as-bernanke-gives-no-signal-of-any-new-stimulus.html

[flying]

Actually I have long said $100/day swings would become the norm & I still

fully expect it.

I do not think metals or any commodity is going to be a place for anyone with weak nerves.

But still it is true what Jay says about markets & if your a in/out type of trader

you cannot argue with it.

But if your premise is based on what you see/know to be occurring I do not think you should get too excited by these

blips & be ready for much more violent swings in both directions.

[Naam]

Cartel Dumps 102.5 Million Ounces of Paper Silver in 7 Minutes, Yet RAID FAILS!

the "raid" had a timing device to delay ignition which caused silver to fall 9% within 21 minutes.

p.s. neither Silver nor Gold fell "allegedly or apparently" but actually in reality.

pps. of course the raids and manipulations by various cartels are only on paper. the "intrinsic" value of our physical Silver and Gold which we keep under our mattresses and/or buried in the back garden is not at all affected!

Edited March 1, 2012 by Naam

[Naam]

Guess Harvey spoke too soon

the "anals" were all wrong Flying. today i did not e-mail you the usual comment on commodities which says

For today, we would favour a case for some upside in precious metals, based on a modest risk-on stance. The market should become more active during New York trading as participants square their positions for month-end.

Gold support is at $1,769 and $1,755. Resistance is $1,794 and $1,804. Silver support is at $35.87 and $34.66, resistance is at $37.76 and $38.43.

[flying]

Bit of a free fall as Bernake is testifying still and looking less and less like QE3 on the table.

Don't follow the herd. Bernanke is lying.... again. QE3 is already here. Look at the massive increase in unadjusted M2 numbers over the past couple of months. And the increase in assets on the Fed's balance sheet. Where have they come from....the tooth fairy?

The best rule to follow is to listen to what Bernanke says he is doing and to realise that he is really doing the opposite.

The bankers used the cover of Bernanke's speech to congress in that he was "taking the punchbowl" away.

This again is complete balderdash as somebody has to finance the big USA deficit of 1.2 trillion dollars.The USA is continually engaging in QEIII and you could tell by the rising M2 levels and the increase in the Fed balance sheet. Yesterday I remarked that it was unusual for the bums not to attack the day before first day notice. It was the first time I could recall that this occurred. However, we all know that the bankers had a master plan and the attack was to start at exactly 10 o'clock and precisely the time Bernanke began to talk.

Amazing how the bankers knew in advance what to do.

Gold fell by 67.00 dollars to $1720.00. Silver was hit for a loss of $2.42 to $34.72. The new longs which entered the comex these past few days got annihilated as they did not understand how the banking cartel work their criminal magic.

http://harveyorgan.blogspot.com/

[churchill]

US Bond Selling Spooks Markets

http://au.ibtimes.com/articles/307012/20120301/us-bond-selling-spooks-markets.htm

[midas]

Although yesterday’s Congressional testimony by “Helicopter Ben” Bernanke was fundamentally meaningless, it caused gold and silver prices to take a spectacular dive. They got hit after the ‘Nank, prevaricating as usual, said the central bank wasn’t rushing to crank up a QE3 stimulus. While this may be true as far as it goes, it belies the fact that the money spigots have been wide open for years and will remain so, probably, until the financial system collapses

Concerning the savaging that precious metals received, they are all but certain to recover, since the forces that have been driving them steeply higher for more than a decade are still very much in place.

http://www.rickackerman.com/2012/03/bullion-shakedown-stampedes-the-ignorant/

[lannarebirth]

Although yesterday’s Congressional testimony by “Helicopter Ben” Bernanke was fundamentally meaningless, it caused gold and silver prices to take a spectacular dive. They got hit after the ‘Nank, prevaricating as usual, said the central bank wasn’t rushing to crank up a QE3 stimulus. While this may be true as far as it goes, it belies the fact that the money spigots have been wide open for years and will remain so, probably, until the financial system collapses

Concerning the savaging that precious metals received, they are all but certain to recover, since the forces that have been driving them steeply higher for more than a decade are still very much in place.

http://www.rickacker...s-the-ignorant/

That may all be true, but if it is you have to ask yourself if an investment is a bit "frothy" if it can be moved so easily by the words of a talking head.

[midas]

Although yesterday’s Congressional testimony by “Helicopter Ben” Bernanke was fundamentally meaningless, it caused gold and silver prices to take a spectacular dive. They got hit after the ‘Nank, prevaricating as usual, said the central bank wasn’t rushing to crank up a QE3 stimulus. While this may be true as far as it goes, it belies the fact that the money spigots have been wide open for years and will remain so, probably, until the financial system collapses

Concerning the savaging that precious metals received, they are all but certain to recover, since the forces that have been driving them steeply higher for more than a decade are still very much in place.

http://www.rickacker...s-the-ignorant/

That may all be true, but if it is you have to ask yourself if an investment is a bit "frothy" if it can be moved so easily by the words of a talking head.

Maybe so but each person must chose between “frothiness “ versus having assets in any third party accounts that these days risk disappearing at the blink of eye orkeeping faith in pieces of paper that has a long history of failure.

[flying]

That may all be true, but if it is you have to ask yourself if an investment is a bit "frothy" if it can be moved so easily by the words of a talking head.

Seems like the financial/investment/casino world has been like that for years now.... At times I wonder if it is all orchestrated raids etc set & timed to use speeches as excuses

That aside i did note that Armstrong said Feb had to finish higher than December which it did not

Also was he saying we will see a crash in prices then rocket to new highs in 2017?

That is a but long for me but I have noted other cyclist claiming 2016 as a high for metals

Edited March 1, 2012 by flying

[Jayman]

Much talk about yesterdays big move down in gold being caused by 1 seller of about 1.8 Million oz.

http://www.goldalert.com/2012/02/large-seller-in-the-market-as-comex-gold-hits-1708/

[Jayman]

Funny what the experts have to say about the current tech analysis of gold.

I have no idea what moves gold. The yellow metal made its February high AND low in the span of a few hours on Wednesday. The decline, directly from the top, was the largest one day decline since December 14th but that decline occurred AFTER several weeks of weakness when one would expect a panic capitulation type of move. This decline is seemingly out of the blue. Regardless, the price is coming into the confluence of the 20 and 200 day averages. A break exposes 1640. 1740 and 1760 are resistance.

Bottom Line – no idea

Edited March 1, 2012 by Jayman

[churchill]

Much talk about yesterdays big move down in gold being caused by 1 seller of about 1.8 Million oz.

http://www.goldalert...gold-hits-1708/

No so much a sell as a dump .. Same happened the day the Swiss announced their peg ...

One would think that a sale of that size would be done over time so as to achieve the best price ... spread in smaller lots over 1 or 2 days ..

Edited March 2, 2012 by churchill

[midas]

Even bigger incentive to keep gold under your bed….

Evidently if you are a friend of Obama and you steal $1.2 billion from other people’s accounts , you will only get a slap on the wrist

" Smells more like 1920's Chicago "

NYT: No Criminal Case, But MF Global May Possibly Face a Fine of Up To $140,000

http://jessescrossro...y.html?spref=tw

Edited March 2, 2012 by midas

[flying]

Anyone notice Gold & Platinum almost at parity?

Has been awhile & of course platinum had usually led gold previously

[churchill]

Interesting short interview .. http://www.imf.org/external/pubs/ft/survey/so/podcast.aspx#131

Drowning in Debt

March 01, 2012

Historically, the foremost creditor nation has shaped the global economy. In the future this role will fall to China, says Coggan

To coincide with the release of March’sFinance & Development, we interview one of the contributors to this quarter’s magazine, Philip Coggan. In a new book, Coggan argues that the extraordinary rise in debt levels in recent years will reshape our world order.

as

Bank of China, CME to seek wider use of yuan

Strategic tie-up provides for trading in contracts related to oil, grain, gold

http://usa.chinadaily.com.cn/epaper/2012-03/01/content_14730326.htm

[Jayman]

Much talk about yesterdays big move down in gold being caused by 1 seller of about 1.8 Million oz.

http://www.goldalert...gold-hits-1708/

No so much a sell as a dump .. Same happened the day the Swiss announced their peg ...

One would think that a sale of that size would be done over time so as to achieve the best price ... spread in smaller lots over 1 or 2 days ..

You're assuming it was intended to sell and get the best price rather than intervene and cause a huge drop which it did.

[churchill]

Anyone notice Gold & Platinum almost at parity?

Has been awhile & of course platinum had usually led gold previously

I was thinking of switching some gold to platinum mid Feb .. If only .

Jewelers Want Platinum for Asians

http://www.chinacomm...-commodities-2/

Perhaps they will now switch back to gold ...

Edited March 2, 2012 by churchill

[churchill]

Much talk about yesterdays big move down in gold being caused by 1 seller of about 1.8 Million oz.

http://www.goldalert...gold-hits-1708/

No so much a sell as a dump .. Same happened the day the Swiss announced their peg ...

One would think that a sale of that size would be done over time so as to achieve the best price ... spread in smaller lots over 1 or 2 days ..

You're assuming it was intended to sell and get the best price rather than intervene and cause a huge drop which it did.

No that's what I meant ..

[Jayman]

Much talk about yesterdays big move down in gold being caused by 1 seller of about 1.8 Million oz.

http://www.goldalert...gold-hits-1708/

No so much a sell as a dump .. Same happened the day the Swiss announced their peg ...

One would think that a sale of that size would be done over time so as to achieve the best price ... spread in smaller lots over 1 or 2 days ..

You're assuming it was intended to sell and get the best price rather than intervene and cause a huge drop which it did.

No that's what I meant ..

ok.. then we are on the same page.

[Naam]

MF Global

i always said i wouldn't trust a broker with more than the value of a good dinner for two persons including a bottle of wine.

[lannarebirth]

MF Global

i always said i wouldn't trust a broker with more than the value of a good dinner for two persons including a bottle of wine.

And nine times out of ten you're sorry you bothered dining with them at all. Most brokers are salesmen and their income is derived by what they can convince you to buy, good or bad. The best of them have some insight (really rare) and have their money on it too.

[churchill]

India resists call to cut Iran oil imports

http://www.ft.com/intl/cms/s/0/0f1daa50-61c6-11e1-94fa-00144feabdc0.html#axzz1nx3KmUlN

Iran to accept gold for oil payment

http://www.chinadaily.com.cn/usa/world/2012-03/01/content_14725651.htm

Edited March 2, 2012 by churchill

[Naam]

MF Global

i always said i wouldn't trust a broker with more than the value of a good dinner for two persons including a bottle of wine.

And nine times out of ten you're sorry you bothered dining with them at all. Most brokers are salesmen and their income is derived by what they can convince you to buy, good or bad. The best of them have some insight (really rare) and have their money on it too.

there's some misunderstanding LRB i don't dine with brokers. just used the dinner and wine as "value sample".

[Naam]

India resists call to cut Iran oil imports

there's no rational reason for India to cut established business connections.

[Naam]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

[midas]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

By doing this Iran may as well put up signs saying please bomb us

[lannarebirth]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

I'd say to them, "sure I'll pay you in Gold if you give me a discount".