Gold World News Flash |
- A Red-Alert Threat to the Regime: by Gary North
- Gold is the final refuge against universal currency debasement
- Gold: Value locked in
- Golden Options to Profit From a Bad Economy
- Hourly Action In Gold From Trader Dan
- A Lack of Speculative Interest and Dollar Bounce Curb Crude, Gold Monday
- Daily Dispatch: Welcome to the Mania
- Porter Stansberry: Strategies for Survival
- The Cost of Fed Incompetence
- One Recession Ends, Another Begins
- Gold a Bubble? NOT - EVEN - CLOSE
- Gold Slips Slightly
- In The News Today
- LGMR: Gold Breaks $1300 as London Bullion Market Meets, Investment Demand Moves Price
- Grandich featured in Mining Weekly.com articles
- Crude Oil Supported by Economic Optimism, Gold Bumps Up Against $1300
- Return of Quantitative Easing Good for Gold
- GATA Chairman Murphy gets seven minutes on BNN in Canada
- How Realistic Is $5,000 Gold?
- $5,000 Gold Bandwagon Now Includes These 61 Analysts – Got Gold?
- Silver’s Top at 21.645 Bears Close Watching
- The Daily Gold Podcast #7
- Gold Prices Outperform
- My Interview with Tekoa de Silva of Kitco Radio
- Gold Breaks $1300 as London Bullion Market Meets, Investment "Set to Drive" Price
- Gold Breaks $1300 as London Bullion Market Meets, Investment "Set to Drive" Price
- barrick: gold demand soaring, easily moves above $1500 per oz
- Beyond The Point Of No Return
| A Red-Alert Threat to the Regime: by Gary North Posted: 27 Sep 2010 10:11 PM PDT This would mean that the supposed reserves of the world central banking system have been depleted. It would also mean that the bullion banks, which are privately owned, are in hock to the central banks, because they borrowed the gold from the central banks. Then they sold the gold. They cannot get the gold back to repay the loans, because the price of gold would skyrocket. So the bullion banks could default, and the central banks could be left holding IOUs from bankrupt private institutions. "If this were to take place, the financial dominoes would begin to fall. There would be outrage around the world by voters, and politicians would hold central bankers accountable for having in fact sold the gold, and hidden the fact by calling the transaction a lease."
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| Gold is the final refuge against universal currency debasement Posted: 27 Sep 2010 07:42 PM PDT
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| Posted: 27 Sep 2010 07:40 PM PDT Fast forward 10 years, add the financial crisis and growing concerns about rising sovereign debt levels, and that anti-gold philosophy has been turned on its head. "For two decades, the only question for central banks was how much and how soon should they sell their gold," says George Milling-Stanley of the World Gold Council, a producers' lobby group. "Increasingly, the question is how much and how soon should they buy."
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| Golden Options to Profit From a Bad Economy Posted: 27 Sep 2010 07:02 PM PDT James Cordier submits: In case you didn’t hear the good news, the recession is over. The official announcement came last week. Yes, indeed, it ended last year. So we can all quit our belly aching and get back to what we were doing. Whew – Glad that’s over. Curious that this profound announcement comes 45 days prior to an election. Regardless, many high net worth investors are not feeling the love. Bad enough are impending tax hikes and suffering practices and businesses. But throw in the fact that most asset based investments (other than gold) have been lackluster at best and you have a class of investors that is probably not yet ready to rejoice in the “slow but steady” growth. Complete Story »
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| Hourly Action In Gold From Trader Dan Posted: 27 Sep 2010 06:52 PM PDT View the original post at jsmineset.com... September 27, 2010 09:40 AM Dear CIGAs, Click chart to enlarge today's hourly action in Gold in PDF format with commentary from Trader Dan Norcini ...
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| A Lack of Speculative Interest and Dollar Bounce Curb Crude, Gold Monday Posted: 27 Sep 2010 06:52 PM PDT courtesy of DailyFX.com September 27, 2010 04:08 PM Friday ended with a bang for the commodities market with gold and oil shooting higher alongside a remarkable rally for equities (the consummate speculative asset. Today’s lack of follow through casts doubt over the taste for risk and the true driver of this market. North American Commodity Update Commodities - Energy A Rise in Marco Event Risk and the US dollar Keeps US Crude Anchored Crude Oil (LS Nymex) - $76.52 // $0.03 // 0.04% Following Friday’s impressive rally, crudes performance to start the week would leave both bulls and bears disappointed. While the US benchmark for the commodity would mark a two-week high on an intraday basis, the market essentially closed the day unmoved from where it opened. This lack of performance wasn’t unique to the energy bloc. In fact, this was the pace that most markets would take as traders sought out a clear driver for speculative interest but would ultimately ...
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| Daily Dispatch: Welcome to the Mania Posted: 27 Sep 2010 06:52 PM PDT September 27, 2010 | www.CaseyResearch.com Welcome to the Mania Dear Reader, Chris here. David is busy putting the final touches to our next edition of The Casey Report before heading off to what appears to be our presciently timed Casey’s Gold & Resource Summit at the end of the week – so I, along with a number of my esteemed colleagues, will be with you for this week’s Daily Dispatch. As far as today goes, however, I must be brief. I have two excellent but rather longish articles from other members of the team I’d like to share with you. So without further ado, let’s get to it. First, I’d like to turn things over to Jeff Clark with his take on what a gold Mania phase could look like, and then Doug Hornig will take you through the evolution of robotic surgery and where the industry could go from here. Welcome to the Mania By Jeff Clark, Senior Editor, Casey's Gold & Resource Report Wi...
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| Porter Stansberry: Strategies for Survival Posted: 27 Sep 2010 06:52 PM PDT Source: Karen Roche of The Gold Report 09/27/2010 Finding undervalued blue chip companies with exposure to Asian growth ranks high on Porter Stansberry's to-do list these days. And it works as a hedge against inflation, too, according to the fellow who founded Stansberry & Associates Investment Research, because the companies' earnings and assets would grow as prices climb. There's a caveat, though. "If you're not willing to short stocks as well, don't buy stocks at all," he cautions readers of The Gold Report in this exclusive interview. "Stay in cash and gold." The Gold Report: The National Bureau of Economic Research announced last week that not only are we out of the recession but that in fact, it ended in June 2009. They did note that it was the longest recession since the Great Depression. Did this announcement surprise you? Porter Stansberry: On one hand, I expected the authorities to come out and say everything is getting better at some point, and I also expect...
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| Posted: 27 Sep 2010 06:52 PM PDT I have grown old yelling at my neighbors and family members to buy gold, silver and oil, to little-to-no avail, and I can see that they are getting bored with my same old million reasons why they should, and how their deliberate inaction only proves their stupidity, which I never tire of pointing out, so they can't say that they "didn't know" that they were stupid. So, recently, I was standing in the street outside of Griswald's house, telling Old Man Griswald how he was an idiot for not buying gold, silver and oil as the only rational defense against the inflationary horror unleashed when his own stupid government (that he and his loathsome Leftist friends elected over and over again) was deficit-spending so unbelievably much money, dutifully created by the foul Federal Reserve, which is a complete failure as an institution if ever there was one, having destroyed 98% of the buying power of the US dollar since the Fed's inception in 1913 by creating too much money and credit, when the...
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| One Recession Ends, Another Begins Posted: 27 Sep 2010 06:52 PM PDT The 5 min. Forecast September 27, 2010 11:32 AM by Addison Wiggin [LIST] [*] Surprise! The 5 called the “end” of the Great Recession in real-time… so why now is a double dip is "already under way"? [*] One “no fail” indicator of a new recession six-nine months out… and how it turned nine months ago [*] Why “record cash on corporate balance sheets” is nothing to crow about… And how to invest accordingly [*] The giant factor that will propel gold past $1,300… sooner or later [*] More bank failures, and no refuge in credit unions... indignant over HSA accounts... "eat the rich" sentiments... and more! [/LIST] Today, we take a belated bow for calling the “official” end of the recession… by declaring a "double dip" to be unofficially under way. Last week, the National Bureau of Economic Research (NBER) declared the Great Recession ended in June 2009. Turns out, looking back, we called it ...
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| Gold a Bubble? NOT - EVEN - CLOSE Posted: 27 Sep 2010 06:52 PM PDT by Jonathan Kosares With the number of financial bubbles inflating and bursting over the past decade and a half, it isn’t surprising that financial analysts have their “bubble-dar” honed and active. What is surprising though is the large number who have resoundingly dubbed the gold market as “the next big bubble.” But is it? Most gold owners reject claims that gold is in a bubble, but they might not be sure exactly why. The most concrete and convincing evidence against gold being in a bubble, though, is right in front of us. In the last 15 years, there have been two generally acknowledged, easily quantifiable bubbles: NASDAQ’s tech bubble in 1999, and the briefer Crude Oil bubble in 2008. (Many would say housing was also a major bubble, but doing so may prove erroneous. Extreme home value loss is limited to certain areas of the country, and is not nearly as conclusive as the tech...
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| Posted: 27 Sep 2010 06:52 PM PDT courtesy of DailyFX.com September 27, 2010 06:34 AM Daily Bars Prepared by Jamie Saettele Sights remains on round figures such as 1300, 1400, 1500, etc. Watch channel resistance going forward. The line is at 1318 today and increases about $3 a day. Of note are the blue colored bars on the chart. These bars indicates an RSI that is above 75. This happened back in November 2009 and May. In both instances, Gold continues higher before reversing....
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| Posted: 27 Sep 2010 06:52 PM PDT View the original post at jsmineset.com... September 27, 2010 09:32 AM Trader Dan’s Commentary Where did we hear this before? Oh yes, it was exactly what Jim said would occur years ago back when it seemed as if everyone and their dog were running and turning tail on gold every time an announced gold sale was taking place. What this article does not cover is that while European Central Banks may be "halting" gold sales, other Central Banks from the far East are in the process of increasing gold purchases. The effect is one of reduced supply at a time of increasing demand. Last time I checked that generally entailed higher prices. European Central Banks Halt Gold Sales Published: Monday, 27 Sep 2010 | 4:27 AM ET Jack Farchy, Financial Times Europe's central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the euro zone plus Sweden and Switzerland are bound by the Central B...
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| LGMR: Gold Breaks $1300 as London Bullion Market Meets, Investment Demand Moves Price Posted: 27 Sep 2010 06:52 PM PDT Spot Gold Prices broke above $1300 an ounce early in London trade on Monday, pulling silver to new 30-year highs above $21.60 as world stock markets crept higher. US crude oil contracts held north of $76 per barrel while the US Dollar recovered from new 5-month lows to the Euro, hit overnight in Asian trade. Major economy government bonds rose, pushing interest rates down across the board and nudging 10-year UK gilt yields back below 3.00%. "The conditions for the kind of sharp fall in Gold Prices that followed the 1970s' bull market are entirely absent today," said investment author and pension-fund manager Shayne McGuire this morning at the London Bullion Market Association's annual conference. After gaining 1000% in the previous 10 year, he said, gold only fell against a backdrop of "sky high interest rates, low equity valuations and - most importantly - low debt-to-GDP ratios in the developed world." Held this year in Berlin - and again sold out, as in Edi...
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| Grandich featured in Mining Weekly.com articles Posted: 27 Sep 2010 06:52 PM PDT The following is automatically syndicated from Grandich's blog. You can view the original post here. Stay up to date on his model portfolio! September 27, 2010 06:06 AM * Junior stocks face tougher sell – Grandich, by Liezel Hill* Mining weekly.com • September 25, 2010* .* Gold ‘not cheap’, but no bubble either, by Liezel Hill* Mining weekly.com • September 25, 2010 [url]http://www.grandich.com/[/url] grandich.com...
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| Crude Oil Supported by Economic Optimism, Gold Bumps Up Against $1300 Posted: 27 Sep 2010 06:52 PM PDT courtesy of DailyFX.com September 26, 2010 10:51 PM Crude oil may try to add to the strong gains of last week, while gold tries to break through the psychologically significant $1300 level. Commodities – Energy Crude Oil Supported by Economic Optimism Crude Oil (WTI) - $76.49 // $0.00 // 0.00% Commentary: Crude oil is starting the new week on a flat note, as the commodity digests solid gains from last week. The period’s 3.8% gain, capped by a three-day win streak between Wednesday and Friday, was noteworthy considering the stark underperformance by oil in the weeks prior. The obvious question is whether crude oil is now in the midst of a more significant uptrend or whether the commodity is poised to fall back down again. Eyeing the fundamentals for guidance yields contrasting views. On the one hand, supplies are elevated with multi-decade high inventories in the U.S. and immense spare capacity within OPEC. On the other hand, the global growth outlook has improved...
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| Return of Quantitative Easing Good for Gold Posted: 27 Sep 2010 06:52 PM PDT By Frank Holmes CEO and Chief Investment Officer The Federal Reserve said two words in its statement this week that should make every gold investor happy: Quantitative Easing. The Fed hinted that we may see additional QE measures as early as November. The news is good for gold investors because it means there could be more dollars chasing a finite amount of resources, further devaluing the U.S. dollar. We’ve already seen an intervention by Japan’s central bank to weaken the yen in an effort to boost the nation’s sagging export sector. Japan is currently the world’s third-largest economy. Another key driver for gold has been diminishing supply from gold mines. This chart from JP Morgan shows the all-in cost to produce and replace an ounce of gold for a handful of miners. Despite $1,300 gold, margins are still relatively modest. The costs vary widely depending on the company, but the peer average is $880 an ounce. Gold miners will be looking for...
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| GATA Chairman Murphy gets seven minutes on BNN in Canada Posted: 27 Sep 2010 06:48 PM PDT 4p ET Friday, September 24, 2010 Dear Friend of GATA and Gold: GATA Chairman Bill Murphy was interviewed after all by Canada's Business News Network for about seven minutes starting at 3:13p ET today. The interview seemed to go well and we're hopeful that BNN will post it at the network's video archive so that everyone around the world may see it for some time. We'll let you know. The interview was awfully well-timed, insofar as much of the day's comment on BNN was about gold and currencies. CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy to Become Coal Producer This Year Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen. For Prophecy's complete press release about its production plans, please visit: http://www.prophecyresource.com/news_2010_may11.php Join GATA here: Toronto Resource Investment Conference The Silver Summit New Orleans Investment Conference * * * Support GATA by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: * * * Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Sona Resources Expects Positive Cash Flow from Blackdome, On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia. Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013." For complete information on Sona Resources Corp. please visit: www.SonaResources.com A Canadian gold opportunity ready for growth
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| Posted: 27 Sep 2010 06:14 PM PDT Taking into account 11 key measurements based on historical movements and price ratios, gold is likely to exceed $5,000 and silver is likely to exceed $200 within the next 5 years. If silver reverts to its historical ratio of 16 to 1 with gold, then it could rise even higher. Let me explain. Words: 795
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| $5,000 Gold Bandwagon Now Includes These 61 Analysts – Got Gold? Posted: 27 Sep 2010 06:14 PM PDT This little band of gold enthusiatists started out few in numbers a few years back but has made a parabolic move over the past year or so much like their projections for the future price of gold. They now number an unbelieveable 103 who have stated, with sound reasons in their opinions, why gold could quite possibly go to a parabolic top of at least $2,500 an ounce - to even as much as an unimaginable $15,000 - before the bubble finally pops! In fact, the majority (61) maintain that $5,000 or more for gold is likely. Words: 777
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| Silver’s Top at 21.645 Bears Close Watching Posted: 27 Sep 2010 06:01 PM PDT Ordinarily we advise using a stop-loss of just a few pennies or less, but in this case the Hidden Pivot target we were looking to short seemed capable of sending the futures into a nasty corrective dive. This did in fact occur, although we expected – still expect – more than the 28-cent sell-off that has taken place so far. However, if the futures should instead come roaring back today or tomorrow, we would take that not as a sign that an important Hidden Pivot target had failed to work, but that it had been able to contain the rally only briefly.
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| Posted: 27 Sep 2010 06:00 PM PDT In episode 7, Dave Skarica and Trendsman discuss the short-term outlook in the precious metals sector and in particular, Silver, Juniors, the US Dollar and potential political dynamics.
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| Posted: 27 Sep 2010 05:46 PM PDT Forexyard submits: The price of spot gold continues to rise, moving closer to the psychological level of $1,300 as the dollar falls out of favor. During the European trading session on Monday, spot gold prices held close to their all-time high, trading at $1,200, from an opening day price of $1,2981. Complete Story »
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| My Interview with Tekoa de Silva of Kitco Radio Posted: 27 Sep 2010 05:39 PM PDT Tekoa Speaks With Jordan Roy-Burne, CMT on Bullish Chart Formations in Gold and Silver, "Missing the Move" Biggest Risk Here - by Tekoa , Sep 23, 2010 Look for the Sep 23 Download Link Here: http://www.kitco.com/ind/kitcoradio/index.html
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| Gold Breaks $1300 as London Bullion Market Meets, Investment "Set to Drive" Price Posted: 27 Sep 2010 05:36 PM PDT
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| Gold Breaks $1300 as London Bullion Market Meets, Investment "Set to Drive" Price Posted: 27 Sep 2010 05:36 PM PDT
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| barrick: gold demand soaring, easily moves above $1500 per oz Posted: 27 Sep 2010 05:28 PM PDT http://www.reuters.com/article/idUSTRE68Q1QF20100927 Barrick Gold, the world's number one miner of the precious metal, said on Monday gold prices could "easily" outperform recent record highs to rise above $1,500 an ounce in the next year. "From what we're hearing, there are still significant new buyers coming into the market," Jamie Sokalsky, the company's chief financial officer, told Reuters on the sidelines of the London Bullion Market Association here. "My view is that we could see much stronger prices still from here," he said, adding: "I can see gold easily taking out new highs and going above $1,500 an ounce in the next year." Spot gold rose to a record high of $1,300 an ounce on Monday. Delegates at the LBMA meet were bullish on prices earlier on Monday, delivering an average forecast of $1,406 an ounce for this time next year. Sokalsky said compared with where gold was in the early 1980s, at around $2,300 an ounce on an inflation-adjusted basis, prices still had substantial upside. "Given all the factors that are there to support gold -- macroeconomic factors, supply and demand factors, geopolitical tensions, a still-simmering sovereign debt crisis -- I think the ledger has so many more reasons to buy gold that to sell," he said. He said the company's recent closure of its hedges -- forward sales of gold made to lock in prices of future production -- meant it now had greater leverage to the rising gold price. DEMAND SOARS Demand for gold has soared in recent years as the financial crisis boosted the precious metal's appeal as a haven from risk, while concerns quantitative easing may debase paper currencies have fueled buying of bullion as an alternative asset. Supply has struggled to keep pace, with central bank selling, once a significant source of bullion to the market, falling off sharply and scrap supply erratic despite rising prices. Sokalsky reiterated Barrick's output forecast of 7.6-8 million ounces for 2010, but said the company's $500 million Cortez Hills mine, which went into production in the first quarter of this year, was likely to outstrip its current production target. "The first two quarters have been great quarters for the mine, so we expect to exceed that guidance of 1.1 million ounces...probably in the neighborhood of 5-10 percent," he said. Barrick's cash costs for the year were likely to be at the upper end of its existing $425-455 an ounce guidance as rising gold prices increased royalty obligations, he added. Nonetheless he said margins remain healthy. "We are seeing significant margin expansion," he said. "In the second quarter our margin against cash costs was over $700 per ounce." He said when two projects currently under construction -- Pueblo Viejo in the Dominican Republic and Pascua-Lama on the Chile-Argentina border -- are in full production, they will contribute 1.5 million ounces a year for the first five years at cash costs below $200 per ounce. "These are very good long-life projects that, once in operation, will look to lower our overall cost base," he said.
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| Posted: 27 Sep 2010 05:16 PM PDT We live in an amazing world. Everybody has big budget deficits and big easy money but somehow the world as a whole cannot fully employ itself," said former Fed chair Paul Volcker in Chris Whalen's new book Inflated: How Money and Debt Built the American Dream. "It is a serious question. We are no longer talking about a single country having a big depression but the entire world." More Here..The US and Britain are debasing coinage to alleviate the pain of debt-busts, and to revive their export industries: China is debasing to off-load its manufacturing overcapacity on to the rest of the world, though it has a trade surplus with the US of $20bn (£12.6bn) a month. Premier Wen Jiabao confesses that China's ability to maintain social order depends on a suppressed currency. A 20pc revaluation would be unbearable. "I can't imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs," he said. (snippet) We have a new world order where China and India are buying gold on every dip, where the West faces an ageing crisis, and where the sovereign states of the US, Japan, and most of Western Europe have public debt trajectories near or beyond the point of no return. The managers of all four reserve currencies are playing fast and loose: the Fed is clipping the dollar; the Bank of England is clipping sterling; the European Central Bank is buying the bonds of EMU debtors to stave off insolvency, something it vowed never to do just months ago; and the Bank of Japan has just carried out two trillion yen of "unsterilized" intervention. Of course, gold can go higher. 
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