Where Is Gold Going In This Market

[midas]

'

E-gold Founder Backs New Bitcoin Rival That Will Have Gold Reserves

Now this is an interesting e-currency. FT reports:

Coeptis’s “global standard currency” would be fully backed by reserves of gold, held in a trust, effectively turning the precious metal into a medium of exchange.Douglas Jackson is consulting for a membership organisation called Coeptis that hopes to launch a new version of his gold-backed currency, which attracted millions of users at its height.The aim is to lure many of the people who have been attracted to Bitcoin and other virtual currencies this year, including businesses that are looking for a cheap way to process payments outside the traditional banking system.The founder of one of the earliest virtual currencies has re-emerged with a rival to Bitcoin, more than five years after his first venture, e-gold, was shut down by the US Department of Justice.

see http://www.economicpolicyjournal.com/2013/11/e-gold-founder-backs-new-bitcoin-rival.html

Douglas Jackson is the founder of e-gold, which was shut down by U.S. authorities a little over five years ago under accusations of money laundering

and if that doesn't stick, he will be assassinated, bombed, or sent to Guantánamo Bay. The poor bastard will have to live the rest of his life under witness protection like conditions

[midas]

Alasdair Macleod details out the reasons why the West is now in dangerously short supply of gold bullion stores. Accelerating the West to East flow is the current broken price discovery mechanism for the metal – Alasdair shows how gold is substantially undervalued and why that undervaluation is likely to correct itself spectacularly, precipitating a financial crisis.

http://www.peakprosperity.com/blog/83626/there-too-little-gold-west

Edited December 7, 2013 by midas

[Khun Jean]

If a bitcoin exchange adds XAU/BTC then you practically have a gold medium exchange.

Edited December 8, 2013 by Khun Jean

[midas]

If a bitcoin exchange adds XAU/BTC then you practically have a gold medium exchange.

how about this

http://libertyblitzkrieg.com/2013/11/29/e-gold-founder-is-launching-a-new-gold-backed-currency/

[SheungWan]

Alasdair Macleod details out the reasons why the West is now in dangerously short supply of gold bullion stores. Accelerating the West to East flow is the current broken price discovery mechanism for the metal – Alasdair shows how gold is substantially undervalued and why that undervaluation is likely to correct itself spectacularly, precipitating a financial crisis.

http://www.peakprosperity.com/blog/83626/there-too-little-gold-west

Has he been predicting the price going up all the time it has been going down?

[midas]

Alasdair Macleod details out the reasons why the West is now in dangerously short supply of gold bullion stores. Accelerating the West to East flow is the current broken price discovery mechanism for the metal – Alasdair shows how gold is substantially undervalued and why that undervaluation is likely to correct itself spectacularly, precipitating a financial crisis.

http://www.peakprosperity.com/blog/83626/there-too-little-gold-west

Has he been predicting the price going up all the time it has been going down?

That article predicts more gold flowing to the east and he is not wrong

According to Hong Kong customs data, in the month of October (with the usual one month delay), China imported 148 total tons of gold in a month in which the price of gold, once again plunged. Curiously, unlike momentum chasers of paper ETF promises to get gold delivery, China continues to BTFD in gold, and the 148 tons of import in the past month was the second highest monthly import ever through Hong Kong, second only to the 224 tons imported in March of 2013.

China is laughing all the way to it's gold vaults at the idiocy of the central bwanksters manipulating the price of paper gold

[Naam]

China is laughing all the way

[SheungWan]

Alasdair Macleod details out the reasons why the West is now in dangerously short supply of gold bullion stores. Accelerating the West to East flow is the current broken price discovery mechanism for the metal – Alasdair shows how gold is substantially undervalued and why that undervaluation is likely to correct itself spectacularly, precipitating a financial crisis.

http://www.peakprosperity.com/blog/83626/there-too-little-gold-west

Has he been predicting the price going up all the time it has been going down?

That article predicts more gold flowing to the east and he is not wrong

According to Hong Kong customs data, in the month of October (with the usual one month delay), China imported 148 total tons of gold in a month in which the price of gold, once again plunged. Curiously, unlike momentum chasers of paper ETF promises to get gold delivery, China continues to BTFD in gold, and the 148 tons of import in the past month was the second highest monthly import ever through Hong Kong, second only to the 224 tons imported in March of 2013.

China is laughing all the way to it's gold vaults at the idiocy of the central bwanksters manipulating the price of paper gold

So tell us the gold bullion price per oz

[SheungWan]

Its gone awfully quiet in here. Has the world ended already?

Edited December 14, 2013 by SheungWan

[midas]

Its gone awfully quiet in here. Has the world ended already?

voila !

[Naam]

Its gone awfully quiet in here. Has the world ended already?

the wet dreams of some goldbugs have ended. but hardcore bugs are still dreaming although they refrain to publish their dreams to avoid being ridiculed by hard facts.

but as always... exceptions prove the rule.

[midas]

Its gone awfully quiet in here. Has the world ended already?

the wet dreams of some goldbugs have ended. but hardcore bugs are still dreaming although they refrain to publish their dreams to avoid being ridiculed by hard facts.

but as always... exceptions prove the rule.

I don't consider myself to be even a gold bug because I care as much about my bullion as someone who pays his annual car insurance. In my view it's just better to have it than not.

But at the end of the day who are the most delusional?……… The so-called hard core goldbugs or the believers that fiat currencies will not be affected by what's coming

[midas]

[Naam]

Its gone awfully quiet in here. Has the world ended already?

the wet dreams of some goldbugs have ended. but hardcore bugs are still dreaming although they refrain to publish their dreams to avoid being ridiculed by hard facts.

but as always... exceptions prove the rule.

I don't consider myself to be even a gold bug because I care as much about my bullion as someone who pays his annual car insurance. In my view it's just better to have it than not.

But at the end of the day who are the most delusional?……… The so-called hard core goldbugs or the believers that fiat currencies will not be affected by what's coming

"what's coming" is an assumption but a fact is that "by the end of today" a huge amount of fiat money can buy a huge amount of gold.

[PeterSmiles]

http://www.bloomberg.com/news/2013-12-15/gold-funds-see-unprecedented-31-slump-with-world-losing-faith.html?cmpid=yhoo

Gold Funds See Unprecedented 31% Slump With World Losing Faith

investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.3 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show.

[midas]

http://www.bloomberg.com/news/2013-12-15/gold-funds-see-unprecedented-31-slump-with-world-losing-faith.html?cmpid=yhoo

Gold Funds See Unprecedented 31% Slump With World Losing Faith

investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.3 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show.

Outflows of gold from ETFs amounted to 24.3 million ounces, nearly 700 metric tonnes, in 2013. Imports from Hong Kong to China totaled 26.6 million ounces or 754 metric tonnes through September alone.

Edited December 16, 2013 by midas

[SheungWan]

http://www.bloomberg.com/news/2013-12-15/gold-funds-see-unprecedented-31-slump-with-world-losing-faith.html?cmpid=yhoo

Gold Funds See Unprecedented 31% Slump With World Losing Faith

investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.3 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show.

Outflows of gold from ETFs amounted to 24.3 million ounces, nearly 700 metric tonnes, in 2013. Imports from Hong Kong to China totaled 26.6 million ounces or 754 metric tonnes through September alone.

Then show us the graph with radical divergence of bullion and ETF prices.

[midas]

http://www.bloomberg.com/news/2013-12-15/gold-funds-see-unprecedented-31-slump-with-world-losing-faith.html?cmpid=yhoo

Gold Funds See Unprecedented 31% Slump With World Losing Faith

investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.3 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show.

Outflows of gold from ETFs amounted to 24.3 million ounces, nearly 700 metric tonnes, in 2013. Imports from Hong Kong to China totaled 26.6 million ounces or 754 metric tonnes through September alone.

Then show us the graph with radical divergence of bullion and ETF prices.

[mccw]

""""

Yesterday's rise of $15 per ounce in gold was erased Tuesday morning in Asia and London, as the US Dollar rose and world stock markets held flat overall.

Trading back at last week's closing level of $1238 per ounce, gold tracked broader commodity markets, where Brent crude oil retreated to $109 per barrel.

Gold for UK investors edged up to £761 per ounce as the British Pound fell to 3-week lows following the weakest reading of Consumer Price Inflation in four years at 2.1% per year.

US inflation data were due with the start of Tuesday's New York trading, with consensus forecasts for a 3-month high of 1.3% per year.

Maintaining its inflation target at 2.0%, the Federal Reserve today starts a two-day meeting to decide US monetary policy for the next 6 weeks, including a possible "taper" of $85 billion in monthly asset purchases.

"The bullion market is likely to continue to mark time ahead of the FOMC statement," says a note from global bank and London bullion market-maker HSBC.

"However, post the FOMC meeting, we are more favorable...Speculators still hold significant short positions. The approaching year end may lead to a covering of spec shorts, which is price supportive in our view."

ETF trust fund holdings of gold have dropped 40% by value this year to $119 billion, says UK-based Barclays Capital.

The giant SPDR Gold Trust, the world's largest gold ETF, shed another 1% of its bullion holdings yesterday to reach 818 tonnes, the lowest level since January 2009.

Losing some 800 tonnes by weight in 2013, a further 100 tonnes of gold ETF holdings would become cash negative for investors who bought during the bull market at a price below $1200, BarCap adds.

"Fed tapering and a general reduction in liquidity are the big game-changers in these markets," BarCap's commodities team says. "The risk is for further price downside ahead."

Adrian Ash

BullionVault

""""

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[mccw]

"""

Wall Street's precious metals analysts have gone gloomy on gold.

Especially in the wake of the Federal Reserve's announcement to begin tapering its stimulative asset purchase program, experts think it'll only get worse as the Fed eventually begins to tighten monetary policy in coming years.

"We expect gold to continue to fall as better data from the US continues to see interest rates rise, causing reduced demand for non-yielding gold," wrote Goldman Sachs' Eugene King. "We expect outflows from ETFs to continue and a reduced rate of central bank buying. Better jewellery demand on a lower price and physical buying of bar and coin in India and China, in our view, will be insufficient to support the price. We forecast gold at US$1,144/oz in 2014."

Gold fell to $1,188 on Thursday, the lowest level since August 2010.

Yesterday, UBS's precious metals analysts made similar comments. And even earlier this week it was Barclays.

"""

-biz insider

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[Naam]

where's the World Gold Council when you need some supporting rubbish news to reassure goldbugs? not even the slightest hints from resident bugs that there is light at the end of the tunnel such as

"The treasurer of the United Pygmy Elephant Hunters Association announced that another 1½ ounces of 9999 fine gold were added to the Reserves."

[farang000999]

Trying to sell a house in the USA... I hope Janet Yellen stops this taper nonsense as there is no inflation to speak of.

[SheungWan]

http://www.bloomberg.com/news/2013-12-15/gold-funds-see-unprecedented-31-slump-with-world-losing-faith.html?cmpid=yhoo

Gold Funds See Unprecedented 31% Slump With World Losing Faith

investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years. Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.3 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show.

Outflows of gold from ETFs amounted to 24.3 million ounces, nearly 700 metric tonnes, in 2013. Imports from Hong Kong to China totaled 26.6 million ounces or 754 metric tonnes through September alone.

Then show us the graph with radical divergence of bullion and ETF prices.

So sorry, but that graph does not answer my question.

Gold prices please, or should we assume you don't have anything to show?

No, I didn't think so.

[midas]

In India, smugglers move gold like narcotics

(Reuters) - Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.

http://in.reuters.com/article/2013/12/03/india-gold-smuggling-idINDEE9B20HY20131203

Edited December 24, 2013 by midas

[midas]

Drop in gold prices fuels buying frenzy

JEDDAH – The gold shops in Jeddah are now flourishing as more customers are buying various gold types thanks to the international drop of gold prices.

http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20131223190305

Edited December 25, 2013 by midas

[SheungWan]

Drop in gold prices fuels buying frenzy

JEDDAH – The gold shops in Jeddah are now flourishing as more customers are buying various gold types thanks to the international drop of gold prices.

http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20131223190305

So the price of gold has gone down then. But 'er isn't the price of physical gold going up?

Copying and pasting must be soooooo confusing!

[JSixpack]

Gold Useless in Economic Apocalypse

[lomatopo]

Bill Gross ... 'Gross wrote today in thepost: “2013 Fearless Forecasts: 1) Stocks & bonds return less than 5%. 2) Unemployment stays at 7.5% or higher 3) Gold goes up.”

http://www.bloomberg.com/news/2012-12-30/pimco-s-gross-sees-less-return-stubborn-unemployment.html

Fearless?

[midas]

Gold Useless in Economic Apocalypse

no mention whatsoever of soap?

Jsixpack wrong again with his predictions

[Naam]

Gold to post worst year in over 3 decades

Off 1.3% in morning action to $1,188 per ounce, gold is set to close the year on the lows, down nearly 30% for its worst performance in 32 years.

http://seekingalpha.com/currents/post/1486671?source=email_rt_mc_readmore