Gold World News Flash |
- International Forecaster October 2011 (#3) - Gold, Silver, Economy + More
- Technical Gold Market Update - October 10, 2011
- Gold, Silver And The US Dollar
- Still a Safe Bet: GOLD!!!
- Stock World Weekly: Darker Shade of Cloudy
- Rickards - People Should be Arrested & Gold Headed to $2,000
- Michael Pento - Here is Why Investors Need to Buy Gold
- Gold Market Update - Oct 09, 2011
- Bullish Dollar v. SP500
- Silver Market Update - Oct 09, 2011
- Can Markets Find the Road Back to Positive Territory?
- GOLD AT A MAJOR CROSSROADS
- Confessions of a Liquidity Junkie
- Alasdair Macleod: Quantitative easing, or when there’s nowhere left to run
- ‘History Decoded’ Fort Knox episode to be rebroadcast tonight
- Weekly metals review and Markopolis interview at King World News
- An internationally accessible posting of Fort Knox episode on ‘History Decoded’
- King World News posts Davies audio and precious metals demand reports
- US Mint Collector 2011 Silver Eagles, ATB Coins Return at Reduced Prices
- European Mission Accomplished: Everyone Is Now Thoroughly Baffled With Bullshit
- COT Silver Report – October 7, 2011
- It’s the money supply stupid, what some investors still don’t get about silver and gold
- Jim Rickards: People Should be Arrested & Gold Headed to $2,000
- How To Hide Your Gold: A Bloomberg Primer
- Gold Price Set to Drop into Aggressive Accumulation Zone
- Dexia to be Buried by Tomorrow / Silver and Gold OI Lowest in Many Years
- On the Edge with Max Keiser: Gold and Silver Legal Tender in Utah
- Gold is Not an Investment
- Michael Pento: Here is Why Investors Need to Buy Gold
- Alasdair Macleod: Quantitative easing, or when there's nowhere left to run
| International Forecaster October 2011 (#3) - Gold, Silver, Economy + More Posted: 10 Oct 2011 02:00 AM PDT The Bundestag committed $590 billion to the EFSF of which Germany will provide $283 billion or almost half to resurrect euro zone economies. What did come from all parties is that they will refuse to commit one more pfennig to bailing out the six wayward countries. They opposed any effort to leverage the allocated total, there would be no Eurobonds, and they voiced opposition as being implacably opposed to moving decisions on monetary and fiscal policy out of the hands of sovereign states. There should be no expansion of policy to the EFSF under any circumstances. The next question will be how long will the funds last? Probably six months to a year and then the problem starts all over again.
|
| Technical Gold Market Update - October 10, 2011 Posted: 09 Oct 2011 11:22 PM PDT It now looks like we were a little too bullish in the last update, for the way gold has acted over the past week suggests that another sharp drop is imminent before the dust finally settles on this reactive phase, that it likely to take it to or some way below its recent panic lows.
|
| Gold, Silver And The US Dollar Posted: 09 Oct 2011 08:34 PM PDT Last week, we wrote that gold and gold stocks could be at – or very close to – a bottom. So far so good, as the miners rallied out of oversold conditions. Gold found support at the 35 weeks Exponential Moving Average, and RSI held above 50. That's a good sign so far:
Sentiment in Gold is back at very low levels, which should be bullish for Gold (although it could always drop some more):
However, when we look at the daily chart, we can see a bear flag forming right now, and the move out of oversold conditions is accompanied by decreasing volume. That's a negative sign, and it looks like the Bear Flag could be taken out to the downside anytime now. That would cause both the RSI and MACD to turn down again.
Sentiment in the mining companies, as measured by the Bullish % Index is also at historically low levels, indicating that miners are severely oversold.
That brings us to silver. Here we can see that sentiment reached extremely low levels (30.03%), which COULD bode well for silver prices going forward.
When we look at patterns of "higher highs / higher lows" and "lower highs / lower lows", we can see that sentiment is a good indicator of what will happen to silver:
In the chart below, we can see that Silver recently retraced exactly 50% of the move from 3.50$ (the 1993 low) to the top of $49.82. The next Fibonacci Support level comes in at $21.18
Although the low $20′s might seem unlikely now, it's definitely something we have to keep an eye on. Even if silver drops towards the low $20 (or even slightly below), it would not harm the long term uptrend at all, as can be seen in the following chart (the yellow pattern is based on the price action of 2008):
When we look at the CFTC COT reports for silver, we can see that the Commercials A.K.A. "Smart Money" have reduced their net-short positions substantially, to bull-market lows.
However, perspective is everything. Of course we are in a bull market (since the early 2000′s), but if we look at the COT reports going back to 1986, we can see that the Commercial Net Short positions have been this low on several occasions, and it didn't always mean higher prices:
However, as the Open Interest fluctuates, it might be better to look at Commercial Net Short Positions as a Percentage of Open Interest (CNSPOI).
We think that everything comes down to the US Dollar. When the US Dollar falls, metals generally rise, and when the US Dllar rises, metals generally fall. We can see that the USD Sentiment is very positive, meaning we could see a pullback. However, the fact that we had a lower high in Price early 2011 combined with a higher high in sentiment, was foretelling us that something was going on in the USD market, just like in 2008 & 2009:
One last thing: when we compare FXI (a China ETF) with the Nasdaq Bubble, we can see that FXI is imitating the Nasdaq Index:
If China drops a bit more, it might be time to buy China and everything China-related (read: COMMODITIES)
|
| Posted: 09 Oct 2011 07:09 PM PDT  As early as 2008, financial advisers advised its customers to buy gold, as times were going to get tough. They could have been regarded as prophets of doom, at that time as with ever falling of the dollar, buying gold seems to be the only solution that people have to rely on. Prices of gold and silver are at historic record. Many questions are shaking the world today, because governments More Here... 
This posting includes an audio/video/photo media file: Download Now |
| Stock World Weekly: Darker Shade of Cloudy Posted: 09 Oct 2011 07:03 PM PDT Here's the Week Ahead Section excerpt from this week's Stock World Weekly...  A dominant theme in the markets over the past year has been the inverse correlation between the Dollar and equities. Starting in September, the Dollar has been steadily climbing, with regular pullbacks. It is during those pullbacks that equities have bounced back. This last week, the Dollar dropped from a high of 80.2 to Friday's low of 78.5, and that 2.1% drop in the Dollar coincided with a 2.1% gain in the S&P 500. Stocks enjoyed solid gains as the Dollar pulled back from recent highs. On Friday, however, stocks stumbled while the Dollar recuperated some losses. Regarding the stock market's performance on Friday, Lee Adler of the Wall Street Examiner wrote, "failure to penetrate trend resistance did nothing to clarify a cloudy technical picture. I'm inclined to think that the failure to break resistance is the overriding fact here, but on the other hand the 4 week cycle projection actually rose to 1225, and screening data retained a bullish bias. In that context, I have to view any pullback as a temporary prelude at another attempt to break through resistance and make new highs on this rally. Do I have a lot of confidence in this outlook? Uh… no. "Things could change on Monday. Treasury supply is immense next week, and that should give the market problems going into the latter part of the week." The continuing European debt crisis has so dominated the headlines for the last few weeks that little attention has been paid to the budget struggles of the U.S. Again, an October 1 deadline for Congress to pass a spending budget came and went. This marks the 14th year in a row that this deadline has been missed. Instead, a "continuing resolution" was passed on October 4 to extend federal funding through November 18. Meanwhile, the Congressional debt-reduction "Super Committee" is still meeting behind closed doors, trying to create a new budget that will reduce the deficit and increase employment. It needs to be agreed upon by a profoundly divided and fractious Congress. Indeed, the mood on Capitol Hill has been getting darker and less collegial, with testy standoffs and intemperate exchanges becoming commonplace. In a standoff last week, Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell sparred at length over arcane procedural rules while debating the Chinese currency bill. Finally, a frustrated Reid "invoked the rarely-used 'tactical nuclear option' to change the Senate rules by a simple-majority vote to make it impossible for the minority party to call for such votes... McConnell was irate at the rules change, calling it 'a big mistake.'" (Harry Reid Just used A 'Tactical Nuke' To Rewrite Senate Rules And Block The GOP) Regardless of the merits of Reid's action, this is illustrative of the increasingly hostile atmosphere in Washington. It does not bode well for future budget deliberations. With unemployment remaining at 9.1% and the broader U-6 unemployment rate running at 16%, the low readings on the Bloomberg Consumer Comfort Index are not surprising. This last week's reading of -50.2 continues the trend of the index being stuck below -40 since February. Readings below the -40 level are associated with recessions and their aftermaths. The "Occupy Wall Street" protests have been growing, with increasing numbers of people showing up in cities around the country to express their anger at the widespread corruption and unfairness in the U.S. financial system. (See an excellent interview by The Real News Network with Michael Hudson on the OWSers and their mission.) Whether due to anger about unemployment, or economic inequality, or rising prices, or a general sense of unfairness, or a combination, the protests that began with fewer than a dozen college students camping out in Zuccotti Park have spread like wildfire. Tens of thousands of people are now demonstrating on Wall Street. Protests are spontaneously breaking out in other cities across the United States. Marches and rallies have spread to 45 states. The Guardian U.K. reported that protestors are "complaining about tax breaks for oil companies, excessive lobbying in Washington, astronomical pay and bonuses for financiers, and the bailout of the banking sector." (Occupy America: protests against Wall Street and inequality hit 70 cities) While the message and demands of the protestors may be somewhat discordant, the outrage expressed is justified and long overdue. For a new trade idea, Pharmboy's interest in Illumina Inc. (ILMN, $27.18) was piqued by its dramatic selloff on Friday. Illumina develops and manufactures life science tools and integrated systems for genetic analysis. It provides "a line of genetic analysis solutions, with products and services that serve a range of interconnected markets, including sequencing, genotyping, gene expression, and molecular diagnostics." (Google finance) Pharmboy submitted, "This week we will look at a beaten down biotech that has made the news by missing its revenues for Q3, and withdrawing its full year forecast - Illumina. I smell an opportunity, but it must be at the right price. While I expect (potentially) more downside, that does not mean it is not a good company. Like many in its field, the company is dependent upon government spending (grants for academia). I think selling 1 put at the December $20 strike for $1 or better is a good way to possibly buy into this small, profitable company."
|
| Rickards - People Should be Arrested & Gold Headed to $2,000 Posted: 09 Oct 2011 04:35 PM PDT  With gold and silver continuing to consolidate, today King World News has released the eagerly anticipated audio interview KWN Resident Expert Jim Rickards, Senior Managing Director at Tangent Capital Markets. Jim Rickards was not only talking gold, he also discussed the KWN interview with giant killer Harry Markopolos, where Markopolos accused Bank of New York Mellon and State Street of stealing $6 to $10 billion from the pension funds of tens of millions of Americans. Rickards stated, "This is not some technical dispute about pricing, this was the crime of the century. I mean what these banks did to their foreign exchange customers, the pensions, their endowments, their other institutional investors, their insurance companies, these are basically the savings and investments of all of the people of the Unites States of America."
This posting includes an audio/video/photo media file: Download Now |
| Michael Pento - Here is Why Investors Need to Buy Gold Posted: 09 Oct 2011 04:02 PM PDT  With continued volatility in global markets, today Michael Pento, of Pento Portfolio Strategies, continues to say global investors should accumulate gold. Pento begins with his take on the recent rally in stocks and what is happening with the economy, "The major averages celebrated last Friday's release of the Non-Farm Payroll report, which reported the U.S. produced a measly 103,000 jobs during the month of September. That number is less than the intrinsic increase in the labor force and inadequate to bring down the unemployment rate."
This posting includes an audio/video/photo media file: Download Now |
| Gold Market Update - Oct 09, 2011 Posted: 09 Oct 2011 03:56 PM PDT Clive Maund It now looks like we were a little too bullish in the last update, for the way gold has acted over the past week suggests that another sharp drop is imminent before the dust finally settles on this reactive phase, that it likely to take it to or some way below its recent panic lows. On gold's 4-month chart it is now apparent that a bear Pennant has been forming since the panic bottom, with the weak upside volume portending an imminent breakdown and steep drop. A reader pointed out to me during last week that gold's panic lows occurred in thin trading on the Hong Kong market, and for this reason we do not have to factor in the tail of the hammer candlestick when deciding where to draw the boundaries of the Pennant. The measuring implications of this Pennant call for a drop at least to the vicinity of the intraday lows of the Reversal Hammer and possibly somewhat lower towards the $1520 area - at this point the decline should have completely run its course and ...
|
| Posted: 09 Oct 2011 03:56 PM PDT Since 2000, upward trends in the dollar have generally resulted in poor stock market performance. There have been upward, tradeable spikes in the SP500 while the Dollar is bullish. However, 5 out of 7 bullish trends in the Dollar Index ... Read More...
|
| Silver Market Update - Oct 09, 2011 Posted: 09 Oct 2011 03:46 PM PDT Clive Maund It now looks like we were a little too bullish in the last update, for the way silver has acted over the past week suggests that another sharp drop is imminent before the dust finally settles on this reactive phase, that it likely to take it to or some way below its recent panic lows. On silver's 4-month chart it is now apparent that a bear Pennant has been forming since the panic bottom, with the weak upside volume portending an imminent breakdown and steep drop. A reader pointed out to me during last week that silver's panic lows occurred in thin trading on the Hong Kong market, and for this reason we do not have to factor in the tail of the "Dragonfly Doji" candlestick shown on the chart when deciding where to draw the boundaries of the Pennant. The measuring implications of this Pennant call for a drop at least to the vicinity of the intraday lows of the Dragonfly Doji and possibly somewhat lower towards the $24 area - at this point the decline should ha...
|
| Can Markets Find the Road Back to Positive Territory? Posted: 09 Oct 2011 03:37 PM PDT By Frank Holmes CEO and Chief Investment Officer U.S. Global Investors As we began last quarter, we asked: “Is the market set to take off?” In a world full of uncertainty during the third quarter, global investors gave a definitive answer: No. U.S. stock markets suffered through the worst quarter since 2008, with the S&P 500 Index dropping nearly 14 percent for the quarter; more than half of this drop occurred in September alone. Only 54 companies in the S&P 500 saw positive returns during the month, while more than 200 dropped at least 20 percent, TheStreet.com reports. The third quarter’s carnage was ubiquitous and almost universal. Only three out of 94 country indices (Venezuela, Tunisia and Jamaica) were positive in U.S. dollar terms during the quarter, according to Bloomberg. The average return for the 9,402 mutual funds tracked by Morningstar was a negative 17.8 percent for the quarter. According to Lipper, international-stock and emerging markets...
|
| Posted: 09 Oct 2011 02:02 PM PDT By Toby Connor, Gold Scents First the pros:  Sentiment & breadth have reached extreme bearish levels (contrary indicator). 
 Chart courtesy of sentimentrader.com It's possible that gold has formed a small T-1 continuation pattern (A move followed by a sideways range often precedes another move of almost equal extent in the same direction as the original move. Generally, when the second move from the sideways range has run its course, a counter move approaching the sideways range may be expected.)  There is a small problem with this interpretation as the second leg of a T-1 pattern is generally slightly smaller than the first leg. The cons: The current intermediate cycle is too short. Barring a shortened cycle, which does occur rarely, there should be one more leg down into the normal timing band for an intermediate degree cycle bottom (20-25 weeks).  Also the HUI mining index is potentially forming a megaphone topping pattern. If gold does have one more move down into a true D-Wave bottom then the bounce off the lower trend line should fail followed by one more aggressive move lower.  Also there is a much larger T-1 pattern in play that fits the normal parameters much better than the smaller version. 
You can see from the chart above that unlike the smaller T-1 the larger version does feature a second leg slightly smaller than the first, and if this pattern is playing out then we need one more move lower to test the midpoint consolidation zone. Right now the battle is being fought at the $1600 level. So far every time gold reaches that level buyers step in.  If however gold closes below $1600 that would be a serious warning sign that the current daily cycle will be left translated and that gold is indeed caught in a true D-Wave decline. If that's the case it still needs to test the consolidation zone of the large T-1 pattern and the intermediate degree cycle will bottom in the normal timing band (November). If this scenario unfolds then we can look for an A-wave advance to begin once that final D-Wave bottom is in place. As I have noted before A-waves usually test but fail to exceed the prior C wave top. They are almost always followed by a lengthy 1-1 1/2 year consolidation before the next leg up can begin.  In my opinion next week is going to be critical. Either the current daily cycle is going to break down below $1600 in a left translated manner, in which case we will probably see gold continue sharply lower to test the 75 week moving average and the consolidation zone of the large T-1 pattern. Or if gold can gain some traction and breakout of the recent trading range to the upside then the smaller T-1 pattern comes in to play and we should see gold make another run at $2000. To access the trial subscription click here and then click on the subscribe link on the right-hand side of the homepage.        Toby Connor A financial blog primarily focused on the analysis of the secular gold bull market. If you would like to be added to the email list that receives notice of new posts to GoldScents, or have questions, email Toby.
|
| Confessions of a Liquidity Junkie Posted: 09 Oct 2011 02:01 PM PDT By Jeff Nielson, Bullion Bulls Canada It is (at best) pathetic when we observe a hopelessly addicted junkie attempt to "justify" his/her addictive behavior. However, when that junkie wears very expensive suits and presides over (supposedly) one of the world's most prestigious institutions such behavior becomes both deplorable and intolerable. Who could warrant such an ignominious introduction? In a 21st century economy nearly decimated with the monetary depravity of Western bankers there is a long list of candidates. However, in this case I'm referring to the Bank of England's Chief Liquidity-Junkie, Mervyn King.
The actions of an addict are uniform and predictable. 1) When an addict has used-up his latest "fix" and begins to get the inevitable craving for more "junk" to feed the addiction, the addict never, ever acknowledges that his drug-use is the cause of the problem. Rather, the addict fixates on only a single thought: that getting another "fix" will temporary stop the withdrawal pains caused by that addiction. 2) During the addict's desperate quest for his next fix, the addict loses the capacity for rational thought. To the addict, "the future of the world" hinges on him getting more of his drug. 3) Lastly, the addict lives his life in perpetual denial. The addict never acknowledges that obtaining another fix never solves anything, but only makes the addiction worse. Most importantly, the addict absolutely refuses to ever consider the truth: that the only way to ever solve his problem is through weaning himself off of his drug. Viewed through this prism, King's words and deeds are nothing more than the rationalizations of a hopelessly-addicted junkie. What was King's justification after injecting himself (and the global economy) with another $110 billion of money-printing? "This is the most serious financial crisis we've seen, at least since the 1930's, if not ever. We're having to deal with very unusual circumstances, but to act calmly to this and to do the right thing." Let's concede King's point that this is "the most serious financial crisis…ever", since it is something which I fully believe myself. The remarks in themselves are proof of King's addictive mentality. First of all, King (like all addicts) refuses to acknowledge that it was excessive liquidity (and debt) which has caused all of the current financial problems. It is the most trite of tautologies that you "cannot put out a fire with gasoline". This brings us to the second, glaring deficiency in King's pseudo-logic: the complete absence of any "end game". While he is absolutely adamant that injecting himself with another fix was "the right thing" to do, he is utterly unable to identify a single way in which another fix will help to solve the problem in any way. More articles from Bullion Bulls Canada….
|
| Alasdair Macleod: Quantitative easing, or when there’s nowhere left to run Posted: 09 Oct 2011 02:01 PM PDT GATA 1:47a BST Monday, October 10, 2011 Dear Friend of GATA and Gold: Writing at GoldMoney, economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London in August, reflects today on the "quantitative easing" that constitutes the rescue of Europe's insolvent banks and will do the same in the United Kingdom and United States. Macleod writes: "The idea that QE is primarily to help the economy recover is Keynesian guff, a cover for the true reason. Without it, the U.S. and U.K. would have to compete for global savings at far higher interest rates. What price $2 trillion in new Treasuries with no QE? What price L175 billion in new gilts? The debt trap has already sprung. And few investors yet seem aware of the irony that loading up banks with Treasuries and gilts is exactly what the eurozone banks have already done for the PIIGS. Whatever the current difficulties faced by European banks and the U.S. and U.K. governments and their banking systems, there is only one option for all of them: Buy time by printing yet more money. This is why the banking system in the eurozone and elsewhere will survive. Banks need governments as much as governments need them. The cost of this survival will be borne by the unwitting saver, who has been frightened into cash only to find it being debased more rapidly than before." Macleod's commentary is headlined "Quantitative Easing, Or When There's Nowhere Left to Run" and you can find it at GoldMoney's Internet site here: http://www.goldmoney.com/gold-research/quantitative-easing-or-when-there… Macleod, GATA consultant Edwin Vieira, and your secretary/treasurer will be among the speakers at the October 20 fall dinner meeting of the Committee for Monetary Research and Education in New York: http://www.gata.org/node/10334 CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Company Press Release, October 27, 2010 VANCOUVER, British Columbia — Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include: – Hole E10-66 intersected 17.4g gold/ton over 1.54 metres. – Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres. – Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre. Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest." For the company's full press release, please visit: http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 Prophecy Platinum Drills 120.9 Meters Company Press Release VANCOUVER, British Columbia, Canada — Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory. Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent). The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011. The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen. For drill result tables and maps, please see the company's full press release here: http://www.prophecyplat.com/news_2011_sep26_prophecy_platinum_wellgreen_…
|
| ‘History Decoded’ Fort Knox episode to be rebroadcast tonight Posted: 09 Oct 2011 02:01 PM PDT GATA 2:49p BST Sunday, October 9, 2011 Dear Friend of GATA and Gold: The History Channel is scheduled to rebroadcast the Fort Knox episode of "Brad Meltzer's 'Decoded,'" in which GATA has a big part, tonight at 11 p.m. U.S. Eastern time and U.S. Pacific time: http://www.history.com/schedule/ CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Signs Definitive Agreement to Acquire and Reopen Santa Rosa Gold Mine in Panama Company Press Release SPARKS, Nevada — Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) has signed a definitive agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine in Panama, now owned by Silver Global S.A., a Panamanian corporation. Santa Rosa produced more than 100,000 ounces of gold from 1996 to 1998 before being closed in part to low gold prices, which are now more than five times higher. Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama S.A., formed to hold and operate the mine. Tom Klein, CEO of Golden Phoenix says: "The agreement establishes a solid framework from which we can advance Mina Santa Rosa to production-ready status." For Golden Phoenix's complete statement, please visit: http://goldenphoenix.us/press-release/golden-phoenix-signs-definitive-ac… Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 For Continuous Wealth Creation, the Hera Research Newsletter The life cycles of companies that produce natural resources allow investors to allocate assets among companies at different stages of development and to profit from transitions between stages. Based on natural resource company life cycles, the Hera Research Newsletter maximizes profits through deep, fundamental analysis at each stage of development and by moving gains back to earlier-stage companies in a continuous wealth-creation process. Hera Research covers a pipeline of high-quality natural resource companies at different stages of development. The companies span discovery and production of gold, silver, and platinum group metals, select base metals, oil and gas, green energy, agriculture, rare earth elements, uranium, and more. Discover the unique value of the Hera Research Newsletter by visiting: http://www.heraresearch.com/newsletter.html Or call Ron Hera at 360-339-8541×101.
|
| Weekly metals review and Markopolis interview at King World News Posted: 09 Oct 2011 02:01 PM PDT GATA 4:10a BST Sunday, October 9, 2011 Dear Friend of GATA and Gold (and Silver): The weekly precious metals review with Bill Haynes of CMI Gold & Silver and futures market analyst Dan Norcini has been posted at King World News here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_K… And full audio of the King World News interview with whistleblower Harry Markopolis has been posted here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_H… CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT For Continuous Wealth Creation, the Hera Research Newsletter The life cycles of companies that produce natural resources allow investors to allocate assets among companies at different stages of development and to profit from transitions between stages. Based on natural resource company life cycles, the Hera Research Newsletter maximizes profits through deep, fundamental analysis at each stage of development and by moving gains back to earlier-stage companies in a continuous wealth-creation process. Hera Research covers a pipeline of high-quality natural resource companies at different stages of development. The companies span discovery and production of gold, silver, and platinum group metals, select base metals, oil and gas, green energy, agriculture, rare earth elements, uranium, and more. Discover the unique value of the Hera Research Newsletter by visiting: http://www.heraresearch.com/newsletter.html Or call Ron Hera at 360-339-8541×101.
Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 Golden Phoenix Signs Definitive Agreement to Acquire and Reopen Santa Rosa Gold Mine in Panama Company Press Release SPARKS, Nevada — Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) has signed a definitive agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine in Panama, now owned by Silver Global S.A., a Panamanian corporation. Santa Rosa produced more than 100,000 ounces of gold from 1996 to 1998 before being closed in part to low gold prices, which are now more than five times higher. Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama S.A., formed to hold and operate the mine. Tom Klein, CEO of Golden Phoenix says: "The agreement establishes a solid framework from which we can advance Mina Santa Rosa to production-ready status." For Golden Phoenix's complete statement, please visit: http://goldenphoenix.us/press-release/golden-phoenix-signs-definitive-ac…
|
| An internationally accessible posting of Fort Knox episode on ‘History Decoded’ Posted: 09 Oct 2011 02:01 PM PDT GATA 3:23a BST Sunday, October 9, 2011 Dear Friend of GATA and Gold: While the recent Fort Knox episode of the History Channel television program "History Decoded" in which GATA figures heavily is not accessible at the History Channel's Internet site outside the United States and Canada, it appears to have been posted in the clear in its entirety, 44 minutes, accessible internationally, at least for the time being, here: http://www.watchonlineseries.com/brad-meltzer%e2%80%99s-decoded-se2ep1-f… CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover Multi-Million-Ounce Gold and Silver Deposits in Canada Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : – A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. – The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. – A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600.
Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 The United States Once Again Can Establish a Stable Dollar Worth Its Weight in Gold Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, has released a plan to restore economic growth through a stable dollar. The plan, titled "The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies," responds to the recurrent economic crises of the last century and outlines a detailed proposal for America's leadership on "how we get from here to there." That is, how we get from the present unstable paper dollar to a stable dollar as good as gold. James Grant, author and editor of Grant's Interest Rate Observer, says of the Lehrman plan: "If you have ever wondered how the world can get from here to there — from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren — wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman the country has finally found him." To learn more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata
|
| King World News posts Davies audio and precious metals demand reports Posted: 09 Oct 2011 02:01 PM PDT GATA 11p BST Saturday, October 8, 2011 Dear Friend of GATA and Gold (and Silver): The full audio of the latest King World News interview with Hinde Capital CEO Ben Davies has him talking about the gargantuan money printing that will be necessary to "recapitalize" the zombie banks of Europe and advising buying the dips in gold and silver. The audio is 19 minutes long and you can find it at King World News here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/8_B… Meanwhile, King World News conveys reports from a couple of major Australian coin and bullion dealers about unprecedented retail demand for the precious metals: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/9_Gl… CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic — one Republican called it radical — but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To Read more…. and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 Be Part of a Chance to Discover Multi-Million-Ounce Gold and Silver Deposits in Canada Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : – A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. – The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. – A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600.
|
| US Mint Collector 2011 Silver Eagles, ATB Coins Return at Reduced Prices Posted: 09 Oct 2011 01:54 PM PDT Sales of several silver collector products from the United States Mint have once again resumed following a suspension that had been in place for nearly two weeks. Some of the products have returned at their previous price points while others are now available at a lower price. The returns follow the September 26 suspension that pulled from [...]
|
| European Mission Accomplished: Everyone Is Now Thoroughly Baffled With Bullshit Posted: 09 Oct 2011 01:54 PM PDT Some time ago we suggested that in lieu of actual practicable solutions (and a promise to recapitalize several trillion worth of insolvent banks absent some magic money printing tree or gold coin defecating unicorn, is so stupid only the market ramping vacuum tube algos can believe, if only for a few hours), the only thing left for Europe's leaders is to baffle absolutely everyone with relentless bullshit. Judging by the following Bloomberg news screencapture, they have now succeeded. Presented without further snark.
h/t Charlie
|
| COT Silver Report – October 7, 2011 Posted: 09 Oct 2011 01:53 PM PDT |
| It’s the money supply stupid, what some investors still don’t get about silver and gold Posted: 09 Oct 2011 01:53 PM PDT It is true this upward movement in price for precious metals is seldom a straight line. Sometimes the market enthusiasm overreaches itself and prices dip back, like silver in April or gold last month. Would a global asset sell-off like the one in late 2008 pull gold and silver prices down for a while? Yes but not for long as central banks will fear deflation and print even more money.
|
| Jim Rickards: People Should be Arrested & Gold Headed to $2,000 Posted: 09 Oct 2011 01:45 PM PDT from King World News:
With gold and silver continuing to consolidate, today King World News has released the eagerly anticipated audio interview KWN Resident Expert Jim Rickards, Senior Managing Director at Tangent Capital Markets. Jim Rickards was not only talking gold, he also discussed the KWN interview with giant killer Harry Markopolos, where Markopolos accused Bank of New York Mellon and State Street of stealing $6 to $10 billion from the pension funds of tens of millions of Americans. Rickards stated, "This is not some technical dispute about pricing, this was the crime of the century. I mean what these banks did to their foreign exchange customers, the pensions, their endowments, their other institutional investors, their insurance companies, these are basically the savings and investments of all of the people of the Unites States of America." Jim Rickards continues:Read More @ KingWorldNews.com
|
| How To Hide Your Gold: A Bloomberg Primer Posted: 09 Oct 2011 01:40 PM PDT A world insolvency crisis, a Thermidorian reaction in Egypt, a hard landing in China, the first non-PIIGS nationalized bank... The world is on fire yet despite all of the above (or rather due to) what is the topic of one of the most commented articles on Bloomberg over the past week? Why how to hide one's gold. Bloomberg's Ben Steverman writes: "If you're looking for a safe place to put your investments, Chad Venzke has a suggestion: Dig a hole in the
Yet, as many of the more pragmatic survivalists have pointed out, in a game of rock, gold or lead, it is the latter that usually wins:
So, without posting videos of their personal explots in this matter, we querry Zero Hedge readers, many of whom are certainly not in the pro-fiat camp, to share their perspectives on what in their view is the best storage place for the one true currency.
|
| Gold Price Set to Drop into Aggressive Accumulation Zone Posted: 09 Oct 2011 01:40 PM PDT from CliveMaund.com: It now looks like we were a little too bullish in the last update, for the way gold has acted over the past week suggests that another sharp drop is imminent before the dust finally settles on this reactive phase, that it likely to take it to or some way below its recent panic lows. On gold's 4-month chart it is now apparent that a bear Pennant has been forming since the panic bottom, with the weak upside volume portending an imminent breakdown and steep drop. A reader pointed out to me during last week that gold's panic lows occurred in thin trading on the Hong Kong market, and for this reason we do not have to factor in the tail of the hammer candlestick when deciding where to draw the boundaries of the Pennant. The measuring implications of this Pennant call for a drop at least to the vicinity of the intraday lows of the Reversal Hammer and possibly somewhat lower towards the $1520 area – at this point the decline should have completely run its course and we will be looking to buy aggressively.
|
| Dexia to be Buried by Tomorrow / Silver and Gold OI Lowest in Many Years Posted: 09 Oct 2011 01:31 PM PDT by Harvey Organ, Good evening Ladies and Gentlemen: Tonight's commentary will be on the short side. Before commencing I would like to report that we had two banks that entered the morgue Friday night: 1. Sun Security Bank of Ellington Mo. Gold finished the comex session at $1634.50 down $17.40 on the day. Silver fell $1.06 to $30.96. Most of the fall in the metals occurred after 12 o'clock when London and the physical markets were put to bed. I felt on Thursday that a raid of this type was imminent (due to light volume) and the bankers decided to attack only after 12 pm to conserve badly needed physical. Let us head over to the comex and assess the damage: Read More @ HarveyOrgan.Blogspot.com
|
| On the Edge with Max Keiser: Gold and Silver Legal Tender in Utah Posted: 09 Oct 2011 01:29 PM PDT In this edition of the show Max interviews David Morgan from Silver-Investor.com. He will talk about the new law implemented in the state of Utah making gold and silver legal tender. So from now on the merchants in the state of Utah will start accepting gold and silver coins on a voluntary basis. There is a depository that was set up where people can put their gold and silver into and are being issued a debit card which makes the whole transaction process pretty transparent. And now you can walk to any store and buy whatever you want to buy with your debit card.
|
| Posted: 09 Oct 2011 01:26 PM PDT by James Turk, GoldMoney.com:
Because gold is an element of nature, it is often thought to be a commodity like the other metallic elements in the periodic table. However, it is fundamentally different from all commodities for several reasons:
|
| Michael Pento: Here is Why Investors Need to Buy Gold Posted: 09 Oct 2011 01:17 PM PDT from King World News:
Michael Pento continues: Read More @ KingWorldNews.com
|
| Alasdair Macleod: Quantitative easing, or when there's nowhere left to run Posted: 09 Oct 2011 12:49 PM PDT 1:47a BST Monday, October 10, 2011 Dear Friend of GATA and Gold: Writing at GoldMoney, economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London in August, reflects today on the "quantitative easing" that constitutes the rescue of Europe's insolvent banks and will do the same in the United Kingdom and United States. Macleod writes: "The idea that QE is primarily to help the economy recover is Keynesian guff, a cover for the true reason. Without it, the U.S. and U.K. would have to compete for global savings at far higher interest rates. What price $2 trillion in new Treasuries with no QE? What price L175 billion in new gilts? The debt trap has already sprung. And few investors yet seem aware of the irony that loading up banks with Treasuries and gilts is exactly what the eurozone banks have already done for the PIIGS. Whatever the current difficulties faced by European banks and the U.S. and U.K. governments and their banking systems, there is only one option for all of them: Buy time by printing yet more money. This is why the banking system in the eurozone and elsewhere will survive. Banks need governments as much as governments need them. The cost of this survival will be borne by the unwitting saver, who has been frightened into cash only to find it being debased more rapidly than before." Macleod's commentary is headlined "Quantitative Easing, Or When There's Nowhere Left to Run" and you can find it at GoldMoney's Internet site here: http://www.goldmoney.com/gold-research/quantitative-easing-or-when-there... Macleod, GATA consultant Edwin Vieira, and your secretary/treasurer will be among the speakers at the October 20 fall dinner meeting of the Committee for Monetary Research and Education in New York: http://www.gata.org/node/10334 CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Company Press Release, October 27, 2010 VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include: -- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres. -- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres. -- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre. Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest." For the company's full press release, please visit: http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or 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 Prophecy Platinum Drills 120.9 Meters Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory. Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent). The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011. The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen. For drill result tables and maps, please see the company's full press release here: http://www.prophecyplat.com/news_2011_sep26_prophecy_platinum_wellgreen_...
|
With gold appreciating against nine of the world's major currencies, one could easily conclude that gold has been an attractive "investment", but appearances can deceive. Gold does not generate cash flow, so it cannot be an investment. An ounce of gold purchases the same amount of crude oil as it did 10 years ago. When viewed this way, gold is not an investment, because it would not have increased your wealth over these periods. Rather, gold would simply have preserved your purchasing power.
With continued volatility in global markets, today Michael Pento, of Pento Portfolio Strategies, continues to say global investors should accumulate gold. Pento begins with his take on the recent rally in stocks and what is happening with the economy, "The major averages celebrated last Friday's release of the Non-Farm Payroll report, which reported the U.S. produced a measly 103,000 jobs during the month of September. That number is less than the intrinsic increase in the labor force and inadequate to bring down the unemployment rate."| You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment