Where Is Gold Going In This Market

[farang000999]

worthwhile to read!

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

How about, 6. gold miners will under perform gold in nearly all circumstances!

[farang000999]

Gold goes up = "See I told you so!"

Gold goes down = "See I told you so!"

Gold bugs are proven right no matter what happens. What an enviable position.

[Naam]

Potential Rally Limitations for GLD

Now that we have traveled through some important valuation levels in GLD, it is vital for those considering bullish exposure to look at potential factors that could limit the upside in any rallies seen into the end of the year. One of the first places to look is India, which was the world's largest gold consumer in 2012, and is currently implementing measures to limit imports (and, by extension, consumer demand) for the metal.

The Reserve Bank of India (RBI) has placed most of its concerns on its widening current account deficit and plummeting currency, as the rupee hit new record lows against the U.S. dollar earlier in the month. Part of the central bank's strategy for dealing with these trends is to require stricter limitations on gold imports.

Recent measures enacted by the RBI require Indian gold importers to set aside 20% of all gold shipments for re-export. These requirements will apply to gold in all its reforms (unrefined materials, coins, etc.), with the remaining allotment held in customs bonded warehouses until at least 75% of the original shipment is sold overseas. Until this happens, the buyer will not be able to make additional gold purchases from foreign sources. These conditions will hand-cuff many buyers and reduce a large part of the incentive to buy gold in the first place.

Demand constraints in the world's largest gold market create a scenario where prolonged rallies in gold are unrealistic. These measures from the RBI will remain in place as long as the problems in the current account deficit (now seen at $87.8, which is 4.8% of GDP) remain India's central economic obstacle.

http://seekingalpha.com/article/1566862-gold-to-rally-no-says-india?source=email_rt_article_readmore

[Naam]

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?

what about my perception (a decade ago) that i will never need to swallow a blue pill once in a while?

[Jobo]

Naam your a comedian. Never fail to have a chuckle on your posts.

[Naam]

Naam your a comedian. Never fail to have a chuckle on your posts.

i stated a fact

[midas]

oops !

Gold Smuggling Takes Off in India

Gold is the preferred form of savings for farmers, Mr. Srivastava said. It is also the traditional gift for brides and purchased by millions of Indians during Hindu festivals, he added.

"We have always maintained that there is a very innate demand for gold in India," said P.R. Somasunderam, managing director of the World Gold Council's India office. "Trying to manage this demand, which is so diversified, by restricting supply will lead to undesirable consequences."

The value of the gold seized during the quarter was 270 million rupees, more than 10 times the 25 million rupees of precious metal retrieved from smugglers during the same period in 2012, said the official.

http://online.wsj.com/article/SB10001424127887323971204578626420651144876.html?mod=WSJ_hps_LEFTTopStories

Edited July 26, 2013 by midas

[farang000999]

Farmers/Peasants know a productive investment when they see one!

[ronz28]

Bank of England's massive gold short.

https://www.youtube.com/watch?v=UfqSJgoRDSk&feature=youtu.be&t=12m59s

[midas]

Bank of England's massive gold short.

https://www.youtube.com/watch?v=UfqSJgoRDSk&feature=youtu.be&t=12m59s

I think it's worth mentioning that you can skip the first 13 minutes. It doesn't get interesting until 13.3 minutes. Sounds like the emperor is down to his underpants

[midas]

Next investigate the gold market ……………………………….

JP Morgan Accused by US Regulator of Manipulating Power Market

http://www.foxbusiness.com/industries/2013/07/29/jp-morgan-accused-by-us-regulator-manipulating-power-market/

[churchill]

Crooks and they get away with it ..

JP Morgan agrees $410m settlement over energy market manipulation allegations - See more at: http://www.cityam.com/blog/jp-morgan-agrees-410m-settlement-over-energy-market-manipulation-allegations#sthash.pXFX02nL.dpuf

Halliburton admits destroying Gulf oil spill evidence

http://www.usatoday.com/story/money/business/2013/07/25/halliburton-guilty-plea-destroying-evidence-deepwater-horizon/2588105/

[churchill]

Rich Move Assets from Banks to Warehouses

http://www.spiegel.de/international/business/art-as-alternative-investment-creates-storage-business-tax-haven-a-912798.html

[cheeryble]

Crooks and they get away with it ..

JP Morgan agrees $410m settlement over energy market manipulation allegations - See more at: http://www.cityam.com/blog/jp-morgan-agrees-410m-settlement-over-energy-market-manipulation-allegations#sthash.pXFX02nL.dpuf

Halliburton admits destroying Gulf oil spill evidence

http://www.usatoday.com/story/money/business/2013/07/25/halliburton-guilty-plea-destroying-evidence-deepwater-horizon/2588105/

75]

Hardly got away with it...

Whilst $125m of the JPM fine is payback over a quarter billion $ is a penalty. As we haven't heard about criminal action against individuals my guess is it's just too difficult a case.....great shame, if some of those creeps went down my schadenfreude would overflow! I would like to see them chained in public stocks in California where they tried to steal from the ordinary Joe. Happily consumers will be getting a rebate.

[midas]

ISLAMABAD: Govt slaps temporary ban on gold import

In an attempt to address steep devaluation of the rupee against the dollar, Pakistan on Tuesday temporarily banned import of gold to save the precious foreign currency reserves.

After the Indian government’s decision to discourage gold import by imposing 8% duties, the buyers had shifted to Pakistan where the commodity was allowed to be imported duty free since 2001.

http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/

Edited July 31, 2013 by midas

[Naam]

Pakistan's decision to temporarily ban the import of gold did not prevent that the global price of the yellow metal to skyrocket. within minutes it surged $1.80 per ounce from $1.331.90 to 1,333.70

[midas]

Pakistan's decision to temporarily ban the import of gold did not prevent that the global price of the yellow metal to skyrocket. within minutes it surged $1.80 per ounce from $1.331.90 to 1,333.70

With the price of gold “plunging” over the past several months, why did Pakistan and India both feel the need to take such draconian measures against a barbarous relic that everyone is supposedly panic selling? If there is so much gold to be had and no one wants it, what’s the problem?

http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/

[Naam]

Pakistan's decision to temporarily ban the import of gold did not prevent that the global price of the yellow metal to skyrocket. within minutes it surged $1.80 per ounce from $1.331.90 to 1,333.70

With the price of gold “plunging” over the past several months, why did Pakistan and India both feel the need to take such draconian measures against a barbarous relic that everyone is supposedly panic selling? If there is so much gold to be had and no one wants it, what’s the problem?

http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/

the answer for the (irrelevant layman's) question "why... draconian measures..." is given by a currency chart. some countries just cannot afford importing a commodity which does not produce anything, blocks badly needed capital, drains the country's reserves, causing a negative trade balance and devalues its currency by 46% in just 3 years.

[yoshiwara]

Pakistan's decision to temporarily ban the import of gold did not prevent that the global price of the yellow metal to skyrocket. within minutes it surged $1.80 per ounce from $1.331.90 to 1,333.70

With the price of gold “plunging” over the past several months, why did Pakistan and India both feel the need to take such draconian measures against a barbarous relic that everyone is supposedly panic selling? If there is so much gold to be had and no one wants it, what’s the problem?

http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/

the answer for the (irrelevant layman's) question "why... draconian measures..." is given by a currency chart. some countries just cannot afford importing a commodity which does not produce anything, blocks badly needed capital, drains the country's reserves, causing a negative trade balance and devalues its currency by 46% in just 3 years.

INR.jpg

Its that worthless US dollar again!

[Naam]

Pakistan's decision to temporarily ban the import of gold did not prevent that the global price of the yellow metal to skyrocket. within minutes it surged $1.80 per ounce from $1.331.90 to 1,333.70

With the price of gold “plunging” over the past several months, why did Pakistan and India both feel the need to take such draconian measures against a barbarous relic that everyone is supposedly panic selling? If there is so much gold to be had and no one wants it, what’s the problem?

http://tribune.com.pk/story/584352/countering-devaluation-govt-slaps-temporary-ban-on-gold-import/

the answer for the (irrelevant layman's) question "why... draconian measures..." is given by a currency chart. some countries just cannot afford importing a commodity which does not produce anything, blocks badly needed capital, drains the country's reserves, causing a negative trade balance and devalues its currency by 46% in just 3 years.

INR.jpg

Its that worthless US dollar again!

bingo! Islamabad and Delhi don't want their citizens spend precious Pakistani and utmost valuable Indian Rupees buying a worthless fiat currency and then use it to buy Gold.

[churchill]

Perhaps Buying Art or Vintage Wine would be a better choice for the rural folk and for traditional wedding gifts

[midas]

The USA is veering into a psychological space not unlike the wilderness-of-mind that Germany found itself in back in the early 20^th century: the deep woods of paranoia where our own failures will be projected onto the motives of others who mean to do us harm.

We cannot come to terms with the salient facts staring us in the face: that we can’t run things as we’ve set them up to run. We refuse to take the obvious actions to set things up differently. Instead, we’ve tried to offset the accelerating losses of running our unrunable stuff with accounting fraud, aimed at pretending that everything still works. But the accounting fraud has only accelerated the gathering disorder in the banking system. That disorder has infected our currency and the infection is spreading to all currencies. What a surprise that the first pandemic to strike an overstressed global immune system was not bird flu after all, but a sickness of money.

http://kunstler.com/clusterfuck-nation/the-dreadful-summer-wind/

[mccw]

"Running out of gold to manipulate with" ?

The Kieser piece linked the other day revealed a 1500ton drop in the physical inventory of BoE vaults, leaving about 4500 ton remaining. So there is still a fair bit of physical knocking about just in London to be able to keep this price suppression game going a while longer yet.

I tried to find something half comment able on; that whole piece is really a load of sentionalism with minor references to the economy and zero explaination of his time of reckoning being "fall"; it vould have been written at any point in the last 5 years for all the non use it is.

[churchill]

Prepare for a new gold standard

http://www.nationmultimedia.com/opinion/Prepare-for-a-new-gold-standard-30212197.html

[yoshiwara]

Prepare for a new gold standard

http://www.nationmultimedia.com/opinion/Prepare-for-a-new-gold-standard-30212197.html

Thanong Khanthong is a fully paid up member of the gold bug fraternity and regularly pops up with his hysteria in The Nation.

[midas]

GATA's Chris Powell on 1200 Tonnes of Missing Gold at the Bank of England

At 3:54, Powell discusses the dramatic price of gold drop on April 12 and 15 and if it might be related to the BOE gold discrepancy.

https://www.youtube.com/watch?v=0OVOxXgBKwU&feature=player_embedded

[yoshiwara]

RT = Russian. News centre of integrity.

[Loptr]

The GOFO rates for gold have been a bit psychotic as of late. Sovereign holdings being called and over collateralized by the likes of JPM. What does it all mean? Me tinks the central bankers will soon be fighting the sovereigns for control over the monetary supplies as the global devaluation of currencies is wreaking havoc on consumer markets and prices.

http://www.zerohedge.com/news/2013-08-09/gold-collateral-situation-its-complicated-6-month-gofo-back-red

[yoshiwara]

The GOFO rates for gold have been a bit psychotic as of late. Sovereign holdings being called and over collateralized by the likes of JPM. What does it all mean? Me tinks the central bankers will soon be fighting the sovereigns for control over the monetary supplies as the global devaluation of currencies is wreaking havoc on consumer markets and prices.

http://www.zerohedge.com/news/2013-08-09/gold-collateral-situation-its-complicated-6-month-gofo-back-red

Hello, it must be zerofudge regurgitating Sunday to tack on to Here Is The News From Russia.

Edited August 11, 2013 by yoshiwara

[Loptr]

The GOFO rates for gold have been a bit psychotic as of late. Sovereign holdings being called and over collateralized by the likes of JPM. What does it all mean? Me tinks the central bankers will soon be fighting the sovereigns for control over the monetary supplies as the global devaluation of currencies is wreaking havoc on consumer markets and prices.

http://www.zerohedge.com/news/2013-08-09/gold-collateral-situation-its-complicated-6-month-gofo-back-red

Hello, it must be zerofudge regurgitating Sunday to tack on to Here Is The News From Russia.

I thought this was a thread on gold, not a critique of news sources. Where do you get your news, from the MSM?