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- Wheat-a-Bix Weir: "Something's up"
- Gold Investors: 2 Stocks To Buy Big, 3 To Avoid
- 5 Reasons Gold Is About To Make A Historic Run
- The Royal Canadian Mint tries to one up gold ETFs
- Pilgrims warned to watch out for gold fraud
- Gold prices ease as US dollar rallies ahead of Greek vote
- Gold is taking a break after three days of gains
- Central Banks Quietly Accumulating Gold …
- Canadas Mile of Gold regains its lustre
- Silver Summit Recap
- By the numbers: This is what a $1M, 100-kilogram gold coin looks like
- Expert Advice from “The Aden Forecast”
- Gold Rallying In Multi-Currency Terms Means Inflation On A Global Scale
- Gold Price Conspiracy: What Uncle Sam Doesnt Want You To Know
- Gartman Sees Gold in Euros at Record as Currency Slides
- Gold extend gains on seasonal demand
- An eye-opening interview with a Wall Street "fat cat"
- WATCH: Jim Rickards on Gold & Currencies
- Gold & Silver Market Morning, November 4, 2011
- Germany Is Rising To World Power Status And Primary European Leader
- Gold: The Hedge Against Political Stupidity
- Opponents Of Gold, Get On Your Mark
- Caretaker Government in Athens? - Greece Backs Away from Referendum Plans
- John Hathaway tells King World News that generations of gold analysts are out to lunch
- A Generation Of Gold Analysts Are “Out-To-Lunch”
- Bank of England: “Markets Mustn't Learn About Our Gold Transactions”
- Rate cut, Greek update lift gold
- Vikas Ranjan: Junior Gold Equities to Watch
- Greece, the Referendum
- Precious Metals Sentiment
| Wheat-a-Bix Weir: "Something's up" Posted: 04 Nov 2011 04:34 AM PDT Quote: I just got notification from the CFTC that they have posted a statement on the SILVER MARKET... THEN THEY REMOVED THE LINK! Something is up! Bix |
| Gold Investors: 2 Stocks To Buy Big, 3 To Avoid Posted: 04 Nov 2011 04:25 AM PDT By Vatalyst: It used to be that companies involved in gold mining and production moved in lockstep with the price of gold. That is not the case in recent years. The disconnect has become so strong that the likes of Jim Cramer advises against purchasing all but one gold mining stock, instead recommending direct investment in gold bullion or shares of a mutual fund that invests directly in gold, such as the exchange traded fund SGOL. I do not share Cramer's pessimism, and with a little care, it is possible to invest in a quality gold mining and production stock. Below, I've reviewed five of the largest gold mining operation for buy ideas. Two are buys, but three you should avoid. Barrick Gold Corporation (ABX) ABX is listed on the NYSE, and was recently trading at about $51 per share. Its 52-week range is $55.95 to $42.50. Its market capitalization is just Complete Story » |
| 5 Reasons Gold Is About To Make A Historic Run Posted: 04 Nov 2011 04:11 AM PDT |
| The Royal Canadian Mint tries to one up gold ETFs Posted: 04 Nov 2011 04:04 AM PDT |
| Pilgrims warned to watch out for gold fraud Posted: 04 Nov 2011 04:03 AM PDT |
| Gold prices ease as US dollar rallies ahead of Greek vote Posted: 04 Nov 2011 03:56 AM PDT |
| Gold is taking a break after three days of gains Posted: 04 Nov 2011 03:49 AM PDT |
| Central Banks Quietly Accumulating Gold … Posted: 04 Nov 2011 02:42 AM PDT |
| Canadas Mile of Gold regains its lustre Posted: 04 Nov 2011 02:39 AM PDT |
| Posted: 04 Nov 2011 02:33 AM PDT The Silver Summit is not for tossers. It is a celebration of the entrepreneurs in our midst who see the beauty of realized dreams as they gaze at mere rocks and by sheer will, turn them to metals. We are all, whether investors or survivors, wealthier as a result. |
| By the numbers: This is what a $1M, 100-kilogram gold coin looks like Posted: 04 Nov 2011 02:28 AM PDT |
| Expert Advice from “The Aden Forecast” Posted: 04 Nov 2011 01:54 AM PDT Gold to test the $1,800-$1,900 high level. |
| Gold Rallying In Multi-Currency Terms Means Inflation On A Global Scale Posted: 04 Nov 2011 01:39 AM PDT |
| Gold Price Conspiracy: What Uncle Sam Doesnt Want You To Know Posted: 04 Nov 2011 01:25 AM PDT |
| Gartman Sees Gold in Euros at Record as Currency Slides Posted: 04 Nov 2011 12:59 AM PDT |
| Gold extend gains on seasonal demand Posted: 04 Nov 2011 12:55 AM PDT |
| An eye-opening interview with a Wall Street "fat cat" Posted: 04 Nov 2011 12:40 AM PDT From David Galland, The Casey Report: ... Whether you call them fat cats, greedy bankers, soulless manipulators, or unindicted co-conspirators, the one sure thing, in the minds of most, is that they wield the power behind all thrones and that it is their whispered agreements, invariably made in darkened rooms full of cigar smoke, that decide the economic fates of us all. Over the years, I have met quite a few of these "Lords of Finance" and found them to possess the same wide range of traits, positive and negative, shared by all humans: fear, insecurities, self-delusion, high hopes, good intentions, social aspirations, good habits and bad. And of course, the greed that the Lords of Finance are said to possess in extra doses. Like Gordon Gekko, I have no problem with greed, as long as the pursuit of that which gives you pleasure does no harm to others. There is one trait, however, that, in my experience, is almost always present in a Lord of Finance – and that is an acute intelligence. When it comes to matters of finance, even the average Lord of Finance has a keenly honed mind that has been trained to precision to understand the complex pieces of investment markets. Which brings me to my interview. We'll call him LOF, because the only way he would agree to be interviewed was if it was anonymous. A former colleague of... Read full article... More on Wall Street: The big Wall St. banks are already trying to buy the 2012 election An outrageous new scandal could bring on a "Lehman 2.0" collapse The Wall Street protests could be secretly funded by billionaire socialist George Soros |
| WATCH: Jim Rickards on Gold & Currencies Posted: 03 Nov 2011 10:25 PM PDT James Rickards senior managing director of Tangent Capital Partners and Douglas Borthwick managing director and head of FX trading at Faros Trading talk about the U.S dollar and Treasuries China's economy and the potential for intervention by the Chinese government in the European sovereign-debt crisis. From Bloomberg Taking Stock 11.3.11.
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| Gold & Silver Market Morning, November 4, 2011 Posted: 03 Nov 2011 10:00 PM PDT |
| Germany Is Rising To World Power Status And Primary European Leader Posted: 03 Nov 2011 09:43 PM PDT As the lesser economic nations of Europe continue to sink into economic morass, Germany becomes the dominant factor in Euro-land credit negotiations. France is weaker than most understand and the balance of Europe is weaker yet. Angela Merkel is the most powerful figure in the current "Save Euro-land and the ECU events." She did not want to continue to bailout the balance of Europe but this is the pressure she is undergoing from both inside Germany and outside in surrounding Euro-land member nations. The dilemma cannot reasonably be solved to the extent all players are happy and pleased. "Chancellor Angela Merkel hosting the G8 summit in Heiligendamm." –Quoted Text, graphic, photo by Wikopedia This was a years ago meeting when many ideas and decisions were discussed that probably led up to the current mess. "Germany, officially the Federal Republic of Germany, is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km and has a largely temperate seasonal climate. With 81.8 million inhabitants, it is the most populous member state and the largest economy in the European Union. It is one of the major political powers of the European continent and a technological leader in many fields. It has the world's fourth largest economy by nominal GDP and the fifth largest by purchasing power parity. It is the second largest exporter and third largest importer of goods. The country has developed a very high standard of living and a comprehensive system of social security. Germany has been a home of many influential scientists and inventors, and is known for its cultural and political history." Worst of all, a very strong uneasiness is developing in non-German nations worrying about a return to rising German nationalism. German citizens for the most part would prefer to exit the Euro-land experiment and not be a party to giving handouts to their international neighbors. Meanwhile, the overall credit and economic picture has darkened considerably, as Greece's social problems are expanding and France is backing away from pressuring Germany to be the paymaster for all of Europe. Debate rages over the amount and extent of the credit plans. Some want a huge number to ensure all must not return to the credit well in just a few months. Others are more minimalist with their ideas and are scrambling to provide "Just Enough" to manage the crisis. The previous ESFS credit facility bailout approved for $440 Billion-Euros might be expanded to a huge 940 Billion Euros ($1.3 Trillion) to encapsulate the damages. One major argument is over the amount of help or lack thereof going to Greece. All the members know Greece is insolvent and cannot possibly pay back their loans. Consequently, any new help must be limited in scope as it will be a total loss. France And Germany Are At Odds On Use Of The ESFS Emergency Credit Facility. France wants to turn the ESFS credit facility into a real bank so they can transfer and use funds from the European Central Bank. Germany disagrees and would prefer to only insure part of the credits for ESFS bond sales. We think the German plan limits the un-ending, opened-ended liability trap it could enter by using the French proposal. Germany's idea places a firm cap on the losses they know are sure to come. We think this is what happens in the final agreement…a limiting of failures and losses. Then later on, when insolvency strikes most of Europe, Germany can legally cut the string to Euro-land and move-on to save them selves. Note that last week analysts are now quoting Euros in the old German D-Mark valuations. Last week, representatives were working to decide how much should the current Greek bondholders lose on current open bonds. They are talking of more than 21% but we think the haircut goes to a higher number of 50%. These losses will be mostly against European and American bankers along with hedge funds. Other foreign investors might include Japan and China as well as some others. The latest and last payment to Greece, open and agreed upon is 5.8 Billion Euros out of an approved package of 8 Billion Euros. German Finance Minister Wolfgang Schaeuble tried to sooth "Nationalistic Fears" rapidly growing in the minds and hearts of Germany's neighbors. Germany has the funds and the credit. They can cover the mess to the extent they choose to but pressures in the Fatherland are growing swiftly. Many Germans would rather cut the string right now; cut off all credit, take the losses and exit Euro-land immediately. We would agree as this might get us closer to the end of this depression ever faster. However, the result of that move would smash all of Europe into depression, unrest and social violence. Further, 40% of Germany's products are exports. If you ruin your buyers' ability to buy your stuff, you have ruined your own economic game plan. This cannot and won't happen. Middle ground will be the obvious outcome in our view. Germany will take some larger losses to protect Euro-land for now and all of its member states. Later, the ECB and ECU separation will be more politically palatable. However, further ahead in time this "No final Resolution Plan" is only an unfortunate set-up for a final and game-ending disaster. The longer the "let's pretend" games continue, the worse the smash later. Just like the near demise of Austria after World War I, they are heading in the same direction once again. Yet, Austrian Prime Minister Michael Spindelegger was complaining out loud that the European Union has 17 countries and that Germany and France should not be allowed to make all the decisions. Of course, the problem with this is "Those with the gold make the decisions. The rest just follow like sheep and that is the reality of it." ECU members would be wise to plan for insolvency management. The final decisions will be made by Germany. They will give away the smallest amount possible. Further, we can see them for certain not providing unlimited credit and cash to others in Europe. We view their plan as one where they appear to "Go along to get along" but in the end insolvency will strike many member nation-states of Europe. Then sadly and unfortunately, the entire world enters World War III to fight for the best energy position as Great Depression II nears its ending.         This posting includes an audio/video/photo media file: Download Now |
| Gold: The Hedge Against Political Stupidity Posted: 03 Nov 2011 09:10 PM PDT ¤ Yesterday in Gold and SilverGold was down between ten and fifteen dollars through most of the Far East trading day, but the price picked up a little shortly after the London open. Then shortly after 12 o'clock noon local time, a rally began, but it should be obvious that a not-for-profit seller entered the market around 1:00 p.m. British Summer Time...which was twenty minutes before Comex trading began at 8:20 a.m. in New York. The three attempted rallies of note that occurred in the New York trading session after that, also ran into the same not-for-profit seller. The last rally got capped at half-past lunchtime in New York...and from there, the gold price traded sideways for the rest of the day. The low during Comex trading came at the London p.m. gold fix at 10:00 a.m. Eastern time. Three of the four interventions were so obvious that even Stevie Wonder could see them. One can only wonder what the gold price would have done to the upside if JPMorgan et al hadn't shown up when they did. Gold closed at $1,764.40 spot...up $27.00 on the day. Net volume wasn't overly heavy at 153,000 contracts.
Here's the New York Spot Gold [Bid] price on its own, where the three interventions clearly stand out.
The silver price was also under pressure all through the Far East trading session. It's low of the day came shortly after the London open...and was down about 85 cents from Wednesday's New York close. It gained back about 50 cents of that loss in pretty short order...and then traded sideways into a slightly later than normal London silver fix which came around 12:15 p.m. local time. As you can see from the Kitco chart below, every rally attempt ran into a not-for-profit seller before the price was about to blast off to the moon and the stars. The high price tick of the day...$35.00 spot...came minutes after 9:00 a.m. Eastern. The New York low [$33.75 spot] also came at the London p.m. gold fix...minutes after 3:00 p.m. local time...and minutes after 10:00 a.m. in New York. Like gold, silver also traded sideway from 12:30 p.m. Eastern time onwards. The silver price closed at $34.80 spot...up a magnificent 21 cents on the day and, like gold, one can only fantasize about where the real close would have been if true market forces had been allowed to play out as they so desperately wanted to do. Net volume was not overly heavy...around 33,000 contracts.
And, like I did for gold, here's the New York Spot Silver [Bid] price on its own. Not too many shades of grey here, either.
The dollar was all over the map yesterday...and if you can find much of a co-relation between what the gold price did and the wild gyrations of the dollar, you're a better person that I am, as I couldn't see much of anything. Both gold and silver wanted to blast off regardless of what the dollar was doing. The only co-relation I could find was the fact that the dollar peaked in New York at precisely 10:00 a.m. Eastern time...just minutes before the London p.m. gold fix. And there's no chance at all that that was a random market event.
The gold shares followed the gold price fluctuations pretty closely yesterday...although there was a rally during the last seventy-five minutes of trading that was not co-related to the dollar at all. The HUI finished up a very respectable 3.05%...and virtually on its high of the day.
Despite the poor close in the silver price yesterday, the stocks did very well for themselves...and Nick Laird's Silver Sentiment Index closed up 4.61%.
(Click on image to enlarge) The CME's Daily Delivery Report showed little activity, as only 24 gold and zero silver contracts were posted for delivery on Monday. There was no reported change in GLD yesterday. It's now been a full week where there's been no in or out activity. Over at SLV, there was another tiny withdrawal...the second one in as many days. This time it was 194,614 troy ounces. And, for the second day in row, there were no sales report by the U.S. Mint. There was some activity over at the Comex-approved warehouses on Wednesday. They didn't receive any silver on that day, but they did ship 451,471 ounces out the door. As usual, I have a lot of stories for you again today. The end game for the world's financial and monetary system is coming up on us hard...and I have no idea how the powers that be will be able to keep it all glued together for much longer. John Hathaway tells King World News that generations of gold analysts are out to lunch. Markets mustn't learn about our gold transactions, Bank of England says. Silver is a ten or twenty bagger: Robin Griffiths. ¤ Critical ReadsSubscribeCFTC's Gensler Testifies on MF Global's DownfallThe top regulator tasked with overseeing the bankrupt brokerage firm MF Global said Thursday that the search continued for more than $630 million in missing customer money, warning that the protection of client assets is essential to doing business on Wall Street. Gary Gensler, chairman of the Commodity Futures Trading Commission, said his agency was investigating the firm, a powerhouse commodities brokerage run by a former New Jersey governor, Jon S. Corzine. "The most troubling aspect about the MF Global situation is the shortfall of customer money at the firm. Segregation of customer funds is the core foundation of customer protection in the commodity futures and swaps markets," he said in prepared testimony. "Segregation must be maintained at all times. Simply put, that's every moment of every day, down to the nanosecond." I wonder how much this MF Global situation will slow down the CFTC's ongoing 3-year investigation into the silver price rigging scheme? Just asking. This story was posted over at The New York Times yesterday...and I thank Washington state reader S.A. for sending it along. The link is here.  Debt Increased $203 Billion in Oct.--$650 for Every Man, Woman and Child in AmericaThe federal government's debt increased by $203,368,715,583.63 in the month of October, according to the U.S. Treasury. That equals about $650 per person for each of the 312,542,760 people the Census Bureau now estimates live in the United States. At the end of September, the total national debt stood at $14,790,340,328,557.15, according to the Bureau of the Public Debt. By the end of October, it had risen to $14,993,709,044,140.78. This story was posted over at the cnsnews.com website yesterday...and I thank reader 'David in California' for sharing it with us. The link is here.  Iran: the damning nuclear evidenceIran is attempting to engineer and test nuclear weapons at a series of banned production sites in defiance of United Nations sanctions, according to a report to be released next week. The research by the UN's watchdog, the International Atomic Energy Agency, will add a substantial layer to seven years of investigations that is likely to inflame tensions in the Middle East. Yukiya Amano, the organisation's director-general, is unlikely to draw a definitive conclusion that Iran is making nuclear weapons, but according to Western diplomats the facts will make any other conclusion implausible. Roy Stephens sent me this story out of Wednesday's edition of The Telegraph...and the link is here.  UK and U.S. 'draw up joint plan to attack Iran': Evidence of nuclear programme raises tension in Middle EastThe UK and U.S. are drawing up plans to attack Iran amid growing tensions in the Middle East, it was claimed last night. Barack Obama and David Cameron are preparing for war after reports that Iran now has enough enriched uranium for four nuclear weapons. President Mahmoud Ahmadinejad's hard-line regime in Tehran has been linked to three assassination plots on foreign soil, according to senior officials in Whitehall. Iran has come sharply back into focus following the end of the Libya conflict...and the unrest has been inflamed by sabre-rattling from top politicians in Israel. This story was posted over at The Daily Mail less than half an hour after the previous story on this issue was posted in The Telegraph. I thank reader 'h c' for bringing it to my attention...and the link is here.  Israel Considers Pre-Emptive Attack On IranIsraeli Prime Minister Benjamin Netanyahu is trying to rally support in his cabinet for an attack on Iran, according to government sources. The country's defence minister Ehud Barak and the foreign minister Avigdor Lieberman are said to be among those backing a pre-emptive strike to neutralise Iran's nuclear ambitions. But a narrow majority of ministers currently oppose the move, which could trigger a wave of regional retaliation. The debate over possible Israeli military action has reached fever pitch in recent days with newspaper leader columns discussing the benefits and dangers of hitting Iran. This story was posted over at sky.com on Wednesday. Is it just me, or are you hearing war drums as well? All this anti-Iran war rhetoric has just appeared out of nowhere now that Libya is no longer on the West's hit list. I borrowed this story from yesterday's King Report...and the link is here.  Caretaker Government in Athens? - Greece Backs Away from Referendum PlansAmid growing fears of a government collapse in Athens, Prime Minister Giorgios Papandreou on Thursday scrapped plans for a bailout referendum and moved to start talks on a national unity government. He has, however, refused to step down, saying that new elections would mean a Greek exit from the euro zone. German Chancellor Angela Merkel seems to have gotten her way yet again. Not even a day after she and French President Nicolas Sarkozy suspended aid payments to Greece pending the results of a bailout referendum called by the government in Athens, Prime Minister Giorgios Papandreou has backed away from his plan. On Thursday, a government spokesman in Athens announced that Papandreou was ceding to demands that he enter into negotiations with the opposition on the formation of a cross-party caretaker government. Shortly thereafter, plans were scrapped to hold the controversial referendum, a decision confirmed by Greek Finance Minister Evangelos Venizelos. Things are changing so fast in Europe that virtually every story I'm running in this column regarding European events risks the chance that it may be irrelevant by the time you clap eyes on it. This Roy Stephens offering was posted over at the German website spiegel.de yesterday...and the link is here.  |
| Opponents Of Gold, Get On Your Mark Posted: 03 Nov 2011 09:10 PM PDT  As the essential Nathan Lewis, of Forbes and Gold: The Once and Future Money fame, once put it, "monetary interpretations of the [Great] Depression had fallen out of favor somewhat by the 1970s. It wasn't until the 1980s, as a political drive for a gold-linked currency gathered force, that academics revived old notions about an unstable gold standard." Well, academics, you'd better dust off those old notions and start spiffing them up. Because the same individual who set your thoughts a-reeling in 1982 is making waves again in 2011. |
| Caretaker Government in Athens? - Greece Backs Away from Referendum Plans Posted: 03 Nov 2011 09:10 PM PDT  Amid growing fears of a government collapse in Athens, Prime Minister Giorgios Papandreou on Thursday scrapped plans for a bailout referendum and moved to start talks on a national unity government. He has, however, refused to step down, saying that new elections would mean a Greek exit from the euro zone. German Chancellor Angela Merkel seems to have gotten her way yet again. Not even a day after she and French President Nicolas Sarkozy suspended aid payments to Greece pending the results of a bailout referendum called by the government in Athens, Prime Minister Giorgios Papandreou has backed away from his plan. |
| John Hathaway tells King World News that generations of gold analysts are out to lunch Posted: 03 Nov 2011 09:10 PM PDT  "I was at a meeting the other day where there was a commentary on Newmont Mining and the assumptions that had to be made to support the stock here. I won't mention the name of the firm but the analysis was based on a drop in the gold price to $1,000 in five years. That left the analyst with a target price on Newmont of $56 and I believe the stock is $68 today. If that analyst were to use the same methodology and assume a $1,700 price in five years, that same methodology would get Newmont to $200. So these analysts are totally behind the curve. I would say there is a generation of sell-side analysts that are just going to be completely out to lunch on this whole thing." |
| A Generation Of Gold Analysts Are “Out-To-Lunch” Posted: 03 Nov 2011 08:33 PM PDT
John Hathaway continues: Continue reading @ King World News |
| Bank of England: “Markets Mustn't Learn About Our Gold Transactions” Posted: 03 Nov 2011 08:32 PM PDT
Dear Friend of GATA and Gold: Denying a recent freedom-of-information request from a citizen of the United Kingdom, the Bank of England has insisted on secrecy for its swapping and leasing of gold from the national reserves. Replying on October 24 to GATA supporter James Burn, who sought a more precise accounting of the British gold reserves, Bank of England spokeswoman Jackie Keating wrote that the gold swap and leasing information is "market sensitive" and its disclosure "would allow enquirers to find out what gold transactions have been taking place." This, the bank's spokesman wrote, would impair the interests of both the British government and the bank's "private customers," to whom the bank "owes a duty of confidentiality." The statement thus confirms that the Bank of England is surreptitiously active in the gold market on behalf of both the British government and the bank's "private customers" and that the interest of British citizens in knowing how their government is meddling in supposedly free markets is quite secondary. Thanks to our friend Bern, it thus has been demonstrated again that there is plenty of financial journalism to be done simply by pressing central banks with questions about their surreptitious activity in the gold market. Who will be the first mainstream financial journalist to attempt this and to have enough resentment about being shut out of the public's business that he publishes a news story about it? Is there such a mainstream financial journalist willing to risk his invitation to a few very nice Christmas parties and his access to highly placed official sources? The Bank of England's reply to Bern has been posted at GATA's site. |
| Rate cut, Greek update lift gold Posted: 03 Nov 2011 08:24 PM PDT |
| Vikas Ranjan: Junior Gold Equities to Watch Posted: 03 Nov 2011 07:00 PM PDT Junior gold explorers from British Columbia to Colombia are poised to pounce. And they are not your ordinary explorers. The Ubika Gold 50 Index has uncovered one explorer that also produces; another... Visit the aureport.com for more information and for a free newsletter |
| Posted: 03 Nov 2011 06:55 PM PDT Gold Forecaster |
| Posted: 03 Nov 2011 06:50 PM PDT The Daily Gold |
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