Where Is Gold Going In This Market

[midas]

Assuming that what these “analysts” are describing isn’t prima facie fraud (attempting to sell what they don’t own); then what is being described here can only be short-selling. And when we look at both sides of these bullion-leasing transactions; all that we see is fraud and conspiracy.

It gets worse. Given the vast tonnages of gold-leasing; one of two possibilities must be true. Some of these gold-leasing contracts are pure paper-fraud, where there is no metal backing the transaction at all. Alternately, in order to supply these vast tonnages; some/most/all of this leased gold must be originating from Western central banks.

http://www.bullionbullscanada.com/gold-commentary/26280-the-fraud-and-conspiracy-of-bullion-leasing

[midas]

Granny’s Gold Bars Are Key to Vietnam Push to Boost Dong

“It’s been my habit for ages, buying gold whenever I can save up some money,” said Huong, 57, who watches the financial news every day to monitor the price of the precious metal. “With gold, I can save my fortune and later on have something valuable to pass down to my children and grandchildren.”

Private gold holdings “reflect both the Vietnamese cultural values as well as the lack of confidence in the dong,” said Trinh Nguyen, Hong Kong-based economist at HSBC Holdings Plc. “High inflation and depreciation of the dong in the past have caused people to keep their savings in gold.”

http://www.bloomberg.com/news/2013-07-14/granny-s-gold-bars-are-key-to-vietnam-push-to-boost-dong.html

Edited July 15, 2013 by midas

[churchill]

Things That Make You Go Hmmm... What If?

http://www.mauldineconomics.com/ttmygh/what-if

[midas]

double

Edited July 17, 2013 by midas

[midas]

Things That Make You Go Hmmm... What If?

http://www.mauldineconomics.com/ttmygh/what-if

Very good Churchill

What if, when that happens, there just isn't enough gold to go around?

Is this why Naam refuses to give the details of the location of his gold shop to Blackjack

Edited July 17, 2013 by midas

[Naam]

Things That Make You Go Hmmm... What If?

http://www.mauldineconomics.com/ttmygh/what-if

Very good Churchill

What if, when that happens, there just isn't enough gold to go around?

Is this why Naam refuses to give the details of the location of his gold shop to Blackjack

how did you find out that this is the reason?

[Naam]

here's a good one for the gilded bugs:

Peter Schiff Interview: Gold Poised for "Horrific Rally"

By Jimmy Mengel | Wednesday, July 17th, 2013

Monday we brought you a controversial analysis on the economy from Peter Schiff.

In his interview, he explained why all the talk of the Fed's QE tapering was a total bluff... that there is no exit strategy... and that they may “step on the gas” and start pumping up to $250 billion a month into the economy...

Obviously, this will all have serious ramifications for the precious metals market.

In part two of our interview with Schiff, we explore the bottom in gold — and why it is poised for a “horrific rally.”

In addition, he offers an interesting solution for those worried about the falling value of the dollar.

Ok, Peter... So let's say your predictions come to pass and the Fed ramps up the money printing. What does that do to gold in the long and short term?

It's going to spike in price. It's setting itself up for a horrific rally. You've had so much speculative liquidation. A lot of the gold that speculators have bought in the last few years has been liquidated over the last couple months.

When the market turns around, as it will, when the people who sold it want it back again because the prices are rising again, when people realize that we aren't in a recovery, the Fed won't stop easing... when people realize why gold has been going up for the last ten years, they'll want to buy it back.

But when they want to buy it back, where is going to come from?

I don't believe that the institutions and individuals buying gold the last couple months are interested in selling it. When gold goes to $1,500 or $1,600 again, they won't be blowing out of their position.

I think the gold being bought will never be sold.

There will be a huge rush to buy gold when the momentum turns. And we know miners aren't going to be producing it. Production won't be there, and the supply was just bought up and taken off the market.

I think this could be setting up for a spectacular, parabolic rise in the price of gold.

[midas]

here's a good one for the gilded bugs:

Peter Schiff Interview: Gold Poised for "Horrific Rally"

By Jimmy Mengel | Wednesday, July 17th, 2013

Monday we brought you a controversial analysis on the economy from Peter Schiff.

In his interview, he explained why all the talk of the Fed's QE tapering was a total bluff... that there is no exit strategy... and that they may “step on the gas” and start pumping up to $250 billion a month into the economy...

Obviously, this will all have serious ramifications for the precious metals market.

In part two of our interview with Schiff, we explore the bottom in gold — and why it is poised for a “horrific rally.”

In addition, he offers an interesting solution for those worried about the falling value of the dollar.

Ok, Peter... So let's say your predictions come to pass and the Fed ramps up the money printing. What does that do to gold in the long and short term?

It's going to spike in price. It's setting itself up for a horrific rally. You've had so much speculative liquidation. A lot of the gold that speculators have bought in the last few years has been liquidated over the last couple months.

When the market turns around, as it will, when the people who sold it want it back again because the prices are rising again, when people realize that we aren't in a recovery, the Fed won't stop easing... when people realize why gold has been going up for the last ten years, they'll want to buy it back.

But when they want to buy it back, where is going to come from?

I don't believe that the institutions and individuals buying gold the last couple months are interested in selling it. When gold goes to $1,500 or $1,600 again, they won't be blowing out of their position.

I think the gold being bought will never be sold.

There will be a huge rush to buy gold when the momentum turns. And we know miners aren't going to be producing it. Production won't be there, and the supply was just bought up and taken off the market.

I think this could be setting up for a spectacular, parabolic rise in the price of gold.

oh oh. Even if you kidnapped Naam and water boarded him now he will never give up the details of where he buys his gold

[midas]

Just a coincidence?

As Beurs reports (via google translate), Rabobank has given no explanations for the move, simply stated that customers can no longer acquire precious metals after September 1st, and will have up to 1 year to transfer open accounts to another institution:

Rabobank grabs the slump in the gold and silver market to get rid of accounts linked to these precious metals. It follows in the footsteps of ABN AMRO that made ​​possible the delivery of physical gold and silver a few months ago. It is striking that another Dutch bank takes a decision that the liquidity of physical gold and silver limited.

From September 1, customers can no longer precious metals purchases. Who then some in his account has standing, given a year to the balance to sell or transfer to another bank. The bank would be interested in such investment have seen decline for some time. Hence the decision to the product no longer to offer .

“Why does Rabo it?”, Asks Pascal Paepen of De Morgen himself. , “I do not know” was his answer.Were there a little too much to lose customers who had speculated? Or would the bank no longer dealing with products that are not in the market? The popularity of the precious metals account may significantly decreased by the rise of all kinds of ‘trackers’ and ‘ETFs’.

[midas]

Bernanke did discuss gold Thursday. He said gold is probably in a bearish posture at present because investors believe gold is “disaster insurance,” and at present the U.S. and world economies are not as bleak as they have been the past few years. He also said low inflationary pressures could also be pressuring gold prices. The Fed chief also said “nobody really understands how gold is priced.” While most gold market watchers would agree with Bernanke that gold could be called “disaster insurance,” the thing most investors in gold do “understand” (and apparently Bernanke does not) is that disasters can and do occur, and many times without warning. Recorded world history is fraught with all kinds of them.

http://www.kitco.com/news/2013-07-18/KitcoNews20130718-Gold-Firmer-on-Chart-Consolidation-Bernanke-Opines-on-the-Metal.html

[churchill]

A Full-Page Ad In The New York Times Is Designed To Induce An Orgy Of Goldenfreude

Read more: http://www.businessinsider.com/full-page-ad-in-the-new-york-times-is-a-tremendous-orgy-of-goldenfreude-2013-7#ixzz2ZTngNQBe

Edited July 19, 2013 by churchill

[Naam]

why do experts predict only $ 5,000/ounce?

intrinsic value down? shelves restocked with physical?

[theblether]

Looks like my prediction of $1250 by 01.01.2015 id on the high side now. I really must try to do better.

[churchill]

Gold futures hiccup indicates demand outpacing supply

http://www.reuters.com/article/2013/07/19/derivatives-gold-idUSL1N0FP1CB20130719

Gold Short Squeeze

http://www.kitco.com/ind/Hamilton/2013-07-19-Gold-Short-Squeeze.html

Edited July 20, 2013 by churchill

[midas]

JPM Eligible Gold Plummets By 66% In One Day To Just Over 1 Tonne, Total Gold At Fresh All Time Low

Finally, those who believe there is a connection between the ongoing run on JPM's vault gold, the suppressed price of the metal, the redemption of Bundesbank gold, and the fact that 3M GOFO has now been negative for 10 straight days or the longest period in history it has been below zero, and indicating an unprecedented gold collateral shortage, you are correct. ( p\lus the fact that Naam is so annoyingly keeping mum about where he gets his stash )

http://www.zerohedge.com/news/2013-07-19/jpm-eligible-gold-plummets-66-one-day-total-gold-fresh-all-time-low

[Naam]

Kitco

The yellow metal was hammered to its most-oversold levels by far of its entire dozen-year secular bull near the end of last month. In just 9 months, gold plunged far enough to surrender a third of its value! This pummeled it down to an unprecedented three-quarters of its 200-day moving average. Such an extreme selloff would herald a giant mean-reversion recovery for any asset, and gold is certainly no exception.

that of course applies only to "paper gold". reality is that physical gold is available -if at all- only at huge premiums above paper gold price.

reasons for the scarcity of gold:

-the shelves in the gold shops are empty,

-only fools will part with a commodity commanding utmost high intrinsic value in exchange for worthless printed paper,

-miners will stop production any time from now and do not sell what is already mined.

[midas]

The Many Amazing Uses Of Stretchable Gold

stretchable gold could be applied directly to the surface of the brain to help people suffering from all kinds of injuries and ailments, because when connected to a power source, the material could deliver tiny jolts of electricity to specific areas. In fact, Kotov and team are already looking at performing experiments on rat brains as a next step in their research.

The foil could likewise be implanted directly onto the heart where it could act as a stretchable, low impact pacemaker or otherwise regulate heart functioning. It could be also be incorporated into a catheter system that could be inserted into an artery near the heart and transmit information about heart performance back to an external device.

http://www.gizmodo.com.au/2013/07/the-many-amazing-uses-of-stretchable-gold/

[churchill]

Fed rethinks move allowing banks to trade physical commodities

http://mobile.reuters.com/article/idUSBRE96I17A20130719?irpc=932

[churchill]

Unbelievable so probably true

'A journalist on scene on Wall Street this evening has just sent us footage of a massive fleet of Firetrucks and ambulances in front of JP Morgan’s headquarters at 1 Chase Manhattan Plaza, with fire-fighters stating that a fire is engulfing the BASEMENT of JPM’s headquarters…which just so happens to be JPM’s gold depository.'

http://www.silverdoctors.com/breaking-massive-fire-reported-in-basement-of-1-chase-manhattan-plaza-force-majeure/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+Silverdoctors+%28SilverDoctors%29

[jacnl2000]

Thank you very much for the link: guess both "tunnelexperts" have quite familiar faces ...

Rethink … what?

At governmental level the people already became shareholders of a pretty large dept.

Will further entrenchment* (of the people’s money) sufficiently fertilize economy?

Maybe somebody simply suggested a change from gold to wind and other more profitable forms of farming…

* managerial entrenchment of Weisbach (1988) comes to mind…

Edited July 21, 2013 by jacnl2000

[Naam]

worthwhile to read!

http://seekingalpha.com/article/1563272-lessons-learned-from-the-gold-crash?source=email_rt_article_related_1

[mccw]

"""Yesterday, 10:14 AM ETMetal miners is the strongest sector in early trading as gold futures climb as high as $1,325/oz.: GDX +4.9%, GDXJ +5.8%, NUGT +15.1%. Newmont Mining (NEM +4.6%) tops all S&P 500 gainers; also RGLD +6%, ABX +5.3%, GG +4.6%, KGC +4.6%, BVN +4.2%, GFI +3.8%. Silver miners (SIL +4.4%): CDE +7%, SLW +5.6%, HL +3.2%."""

-seeking alpha app

[mccw]

Any one invested in miners?

I've been pondering a dabble for a while since it looks like the only sector not over bought to me at moment

[churchill]

I am invested and have held over the last few difficult months ... happy to see a decent rise and hope the bottom is finally in ....

What Does a Bottom Look Like for Gold and Silver Miners? - See more at: http://www.gotgoldreport.com/2013/07/what-does-a-bottom-look-like-for-gold-and-silver-miners-.html#more

as stated on the other Gold thread http://www.thaivisa.com/forum/topic/649919-which-gold-stock-to-buy-now/?p=6641910

these stocks have had a very good run in the last 3 weeks and added further to gains yesterday .....but still have a long way to go imo..

[Naam]

looking at the stock chart of Barrick Gold

a favourite of The Right Honourable globally

renowned Guru Marc GloomDoom Faber, Esq.

Edited July 24, 2013 by Naam

[Naam]

these stocks have had a very good run in the last 3 weeks and added further to gains yesterday .....but still have a long way to go imo..

Barrick +18% last three weeks is excellent... for those who bought at the bottom.

Barrick -60% in two years is... disappointing

Edited July 24, 2013 by Naam

[midas]

worthwhile to read!

http://seekingalpha.com/article/1563272-lessons-learned-from-the-gold-crash?source=email_rt_article_related_1

Lesson #1: Gold is not a safe haven

Lesson #5: Physical demand is not enough to support the price

no mention that the paper gold market is 100 times the size of the physical gold market or that COMEX has only been around since 1933 . Obviously Comex sets the price with that kind of imbalance. What about the perception of gold as a safe currency before COMEX was created?

[mccw]

these stocks have had a very good run in the last 3 weeks and added further to gains yesterday .....but still have a long way to go imo..

Barrick +18% last three weeks is excellent... for those who bought at the bottom.

Barrick -60% in two years is... disappointing

Looking at that chat is what makes me think maybe its an ok time to enter- if the other way up and buying right at the top I wouldn't consider it.

[mccw]

(Barrick has now lost 5.5% / all of the gain from when I posted update the other day. )

[farang000999]

Marc Faber and Peter Schiff are salesman and nothing more.