saveyourassetsfirst3 |
- Silver still a runaway winner from the coming economic mayhem
- A Backdoor Bet On A Strong Dollar: Gold Put Spreads
- Allied Nevada Gold Corp's CEO Discusses Q3 2011 Results - Earnings Call Transcript
- Fed Intervention And The Market: A New Update
- Silver: The People’s Money
- The Dollar is Done - Deal with It
- LISTEN: Todays Gold Market Action
- Germany: Gold Reserves Cannot Be Touched
- Gold Price Moving Closer to Significant Level
- Vikas Ranjan: Junior Gold Equities to Watch
- Germany to G20: German Gold “Must Remain Off Limits”…
- Silver Market Update
- View From the Turret: All About the Headlines
- In the midst of a global crisis, this country's credit rating is being upgraded
- LISTEN: The Great Global Unraveling
- BrotherJohnF: Silver Update – “Margin Chagrin”
- Gold & Silver Market Morning, November 7, 2011
- CME To Smash Gold and Silver
- Even Paul Krugman Says a “Gigantic Bank Run” is Coming
- Gold & Silver Edge Higher Overnight
- Surprise! G-20 Considers Gold as Money
- The Supply and Demand for Gold
- CFTCs evasion after 3 years investigating silver is answer enough
- Gold Market Update
- Richard Maybury: The War that Will Kill the Dollar
- Why Precious Metals Stocks Are Likely to Rally from Here…
- Bullion banks, CME try to hobble CFTC, Maguire tells King World News
- Gold in Modern Times (1800 onwards)
- Bundesbank: central bank reserves will not help fund EFSF
- G-20 Demands German Gold To Keep Eurozone Intact
| Silver still a runaway winner from the coming economic mayhem Posted: 07 Nov 2011 06:19 AM PST If you could only invest in one asset class to hold until the next big bubble is fully inflated then it has to be silver. Gold is already increasingly popular for the same reason. It is a precious metal of fixed supply and proven monetary value in a world of electronic money creation. Just look at the staggering sums of money magicked out of thin air by the eurozone debt deal at the end of last month. |
| A Backdoor Bet On A Strong Dollar: Gold Put Spreads Posted: 07 Nov 2011 06:09 AM PST This article originally appeared in the November issue of Registered Rep. Magazine Gold has been on a lot of investors' minds recently. Rightfully so. After an unrelenting run-up over the summer, bullion prices ushered in autumn with a wobble that really worried gold bulls. Worry soon turned to liquidation, knocking $300 off the yellow metal's cost. The cause? Put simply, fear. Fear of a replay of the economic upheaval seen in 2008. This time, however, investors and traders expect the U.S. dollar to strengthen rather than weaken. Much of this perception is the consequence of the Federal Reserve's announced "twist" operation. By June 2012, the Fed anticipates buying $400 billion of long-term Treasury securities, financed by the sale of a like amount of short Treasuries from its balance sheet. The Fed's action should put downward pressure on longer-term interest rates while raising yields on shorter maturities. It's a nation's short Complete Story » |
| Allied Nevada Gold Corp's CEO Discusses Q3 2011 Results - Earnings Call Transcript Posted: 07 Nov 2011 05:59 AM PST Allied Nevada Gold Corp. (ANV) Q3 2011 Earnings Conference Call November 7, 2011 11:00 ET Executives Tracey Thom – Vice President, Investor Relations Scott Caldwell – President and Chief Executive Officer Hal Kirby – Vice President and Chief Financial Officer Analysts Tara Hassan – National Bank Financial Steven Butler – Canaccord Genuity David Brigham – Brigham & Associates Sam Crittenden -- RBC Capital Markets Adam Graf – Dahlman Rose Ron Stewart – Dundee Securities Shawn Campbell – Macquarie Mike Kozak – Cormark Securities Presentation Operator Good morning, ladies and gentlemen and thank you for standing by. Welcome to the Allied Nevada Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct the question-and-answer session with instructions provided. (Operator Instructions) I would like to remind everyone that this conference call is being recorded today, Monday, November 7, 2011 11.00 AM Complete Story » |
| Fed Intervention And The Market: A New Update Posted: 07 Nov 2011 05:59 AM PST By Doug Short: At present we are in the early stages of the latest Federal Reserve intervention, Operation Twist, which was officially announced on September 21, after several days of rumors. We've now seen several bouts of aggressive Fed attempts to manage the economy following the collapse of the two Bear Stearns hedge funds in mid-2007 about three month before the all-time high in the S&P 500 (SPY). Initially the Fed Funds Rate (FFR) underwent a series of cuts, and with the bankruptcy of Bear Stearns, the Fed launched a veritable alphabet soup of tactical strategies intended to stave off economic disaster: PDCF, TALF, TARP, etc. But shortly after the bankruptcy filing, the Fed really swung into high gear. The FFR fell off a cliff and soon bounced in the lower half of the 0 to 0.25% ZIRP (Zero Interest Rate Policy). The thud to the FFR bottom coincided with the first of Complete Story » |
| Posted: 07 Nov 2011 04:58 AM PST In my writing a couple of themes occur with regularity: how "fractional-reserve banking" (with purely fiat currencies) is nothing less than serial stealing from the general population; and how gold and silver can protect people from this cycle of theft. With respect to fractional-reserve banking, the theft is obvious. The bankers print up vast quantities of their paper currencies 'out of thin air', at no cost to themselves – but with the full benefit of that money. Thus their own "wealth" increases exponentially, and without the bankers earning a single penny of it. However, by diluting our currencies in this reckless manner they drive down the value of our money – reflected in higher prices (i.e. reduced purchasing power). We get poorer and poorer; they get richer and richer. Given that we have a corporate propaganda machine which has spent more than forty years trying to disguise this serial stealing, it is no surprise that it often takes a long time for this reality to sink into peoples' minds. Sadly, even once people understand the stealing which is taking place, they often aren't able to piece together how precious metals are the "cure" for this chronic condition. When I speak of precious metals being our salvation from the bankers' world of debauched paper, for the average person what I mean specifically is that silver is their primary protection from the banksters' stealing-via-dilution. In referring to silver as "the people's money" I am not saying anything new here. Rather I am simply reiterating one of the oldest economic truths of our species. To understand this first requires understanding two more of the most ancient concepts of humanity. To begin with, people must know the answer to the question "what is money?". Once they have a clear understanding there, it becomes crystal-clear why gold and silver are the best "money" our species has ever known – and the only "good money" in existence today. Next readers need to understand the historic price ratio between gold and silver, or in other words they need to understand the 5,000 year old price relationship between the Metal of the Sun (gold) and the Metal of the Moon (silver). This historic 15:1 ratio is absolutely reinforced by the fact that this is also the approximate relative proportions of gold and silver in the Earth's crust. Thus 15:1 is the "natural" price ratio between gold and silver, and over the long term gold and silver prices must revert to that ratio. Given that 15:1 ratio (and the much greater, current ratio today), this leads to an obvious inference. Gold, by virtue of being less common and thus more valuable is the "money" of the wealthy and governments. Conversely, by virtue of being more plentiful (but still "precious") silver has always been the Money of the People. |
| The Dollar is Done - Deal with It Posted: 07 Nov 2011 04:36 AM PST Psychologists tell us that there are five stages of grief over loss of whatever kind, usually death, or breaking up with a loved one, which are: denial, anger, bargaining, depression, acceptance. I've applied these to the loss of the dollar, as I see most people today are still stuck in denial, and here's how to deal with that. |
| LISTEN: Todays Gold Market Action Posted: 07 Nov 2011 04:17 AM PST
Al Korelin and Rick Ackerman talk about todays gold market action. 11.7.11 More @ KEReport
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| Germany: Gold Reserves Cannot Be Touched Posted: 07 Nov 2011 04:13 AM PST from Reuters.com:
"German gold reserves must remain untouchable," Roesler, who is head of the Free Democrats (FDP), a junior partner in Chancellor Angela Merkel's coalition, told ARD television. The Bundesbank (German central bank) and a spokesman for Merkel already said over the weekend that they too ruled out the idea reported discussed at the summit of Group of 20 leading economies last week. |
| Gold Price Moving Closer to Significant Level Posted: 07 Nov 2011 04:11 AM PST by Roman Baudzus, GoldMoney.com:
This speculation has increased as a result of the sluggish growth in the US economy in recent months, combined with the Fed's continuing insistence that deflation remains more of a threat than inflation. The Fed is currently maintaining the size of its balance sheet via "Operation Twist" – a programme that involves selling short-term Treasuries and using the proceeds to buy longer-dates Treasuries. But many fear that this programme is not be enough. Ben Bernanke has stated repeatedly that he will use all means at his disposal to fight deflation – moves that will inevitably involve money printing. |
| Vikas Ranjan: Junior Gold Equities to Watch Posted: 07 Nov 2011 01:55 AM PST |
| Germany to G20: German Gold “Must Remain Off Limits”… Posted: 07 Nov 2011 01:35 AM PST |
| Posted: 07 Nov 2011 12:44 AM PST Silver did what was expected of it last week, by reacting back to support in the $33.50 area, although it very briefly touched $32 intraday on Tuesday, and then, also as expected it bounced back. On the 4-month chart the action last week looks like a normal reaction, that may be a bull Flag, within a young uptrend that was signalled by the clear break above important resistance in the $33 area, which marked the top of the now completed intermediate base pattern. |
| View From the Turret: All About the Headlines Posted: 07 Nov 2011 12:00 AM PST
For the past three months, markets have been trading in a volatile pattern – based almost exclusively on headline events. This week will likely be no different When major capital flows (into – or out of risk-based assets) occur based on debt arrangements in Europe, budget announcements in the US, or even the lack of a single signature on a bailout proposal; it can be extremely difficult to set up high-conviction trades. In today's uncertain environment, we have paired back our exposure levels dramatically and become much more selective in which opportunities we will pursue. Standards for new trades become much more rigorous because volatility and uncertainty increase our chances of getting stopped out of positions. This doesn't mean that we are becoming "inactive" in the market. In fact, during uncertain periods like this, the research process needs to become even more intensive to make up for the choppy action. But when it comes to pulling the trigger on individual trades, the size of each trade is becoming smaller, and the number of active trades is also lower.
To the left is a pie chart from the Mercenary Live Feed showing our current exposure levels. The graphic is based off 200% of our equity – incorporating the ability to use margin during times of high conviction. At this point, less than 30% of our capital is allocated, and our bearish exposure is largely offset by niche bullish trades on our books. Heading into this new week of trading, we're watching a number of areas for potential setups – knowing that the environment dictates risk management as our first priority…
Precious Metals Are For Safety One of the areas that continues to be attractive in an uncertain environment is the precious metals asset class. With currency risk representing a significant challenge for investors, consumers, and corporations, gold has become a universal currency – not subject to the ravages of a printing press. In late September, gold prices were hit hard by portfolio liquidation. The price of gold in particular had broken out of its upward channel and was then subject to contagion issues as portfolio managers met redemptions and were forced to sell whatever they could to raise cash. Looking for a Professional Trading Platform? Check out the DMA platform from TradeStation Prime Services. It's the platform we use for our Mercenary Trader executions. Click here for more information. Interestingly, Gold spot prices only fell back to their long-term trend line, where they found significant support. We have picked up long exposure via the SPDR Gold Trust (GLD) and currently have a profitable position with a relatively tight stop point. This year we have switched our exposure back and forth between gold miners and actual spot gold. There have been times when a speculative play on the miners made more sense because of their leverage to gold prices and the production / profitability opportunities. At this point, we're more focused on the actual gold price as the price action for miners as a group has become more choppy. Silver is another way to play the precious metal sector, but silver has become more of a "risk-based" asset and often behaves a bit differently than gold. We do have a pending order for the iShares Silver Trust (SLV) on the books right now, but we will need to see positive action before our stop-limit buy order is executed.
 Social Media Shorts Last week's successful IPO by Groupon Inc. (GRPN) proved that there is still an appetite for social media investment opportunities. But as we mentioned over the weekend, there are a number of challenges GRPN investors must consider… With a limited number of social media opportunities available for traders, there is currently a supply / demand imbalance in terms of shares available for trading. But as lockup periods expire and new offerings like Zynga and eventually Facebook come to market, equilibrium could bring share prices sharply lower. Pandora Inc. (P) looks particularly vulnerable sitting just below its $16 IPO price point, and China social site Youku.com Inc. (YOKU) has been trading in a negative pattern since peaking in late April. YOKU offers an interesting opportunity because the stock is not only part of the "social media" group that appears vulnerable to a bubble burst, but the stock is also part of the "domestic China" area that has been under scrutiny lately. Since this company manages a Chinese social media site, investors have to worry not only about the government censorship issues, but also about the regulations of China companies trading on US exchanges. These risks could turn out to be a major drawback on the stock – even after it has already lost more than 2/3 of its peak market value. Over the last four weeks, YOKU has been trading in a relatively narrow band near $20. A break of near-term support could ignite another leg lower, with the next stop being the $13 offering price.
High Multiple Speculative Shorts  One of the areas we have had the most success with this year is shorting high-multiple "cult stock" ideas after they have begun to break down. Considering the momentum that many of these stocks have carried (often far longer than we expected them to run), timing has been a very important factor in setting up these trades. It's not enough just to identify an over-priced speculative stock and lay out a short position. To increase our chances of success, we have had to wait for an initial break to occur, and then enter a the stock for a continuation trade… Two great examples of this process are Netflix Inc. (NFLX) in which we captured roughly 44% profits in 24 trading days, and Green Mountain coffee Roasters (GMCR) - a trade that is currently still open with 22% unrealized gains. In today's environment, high-multiple speculative stocks are particularly vulnerable to panicked traders liquidating risk when negative headlines spark market selloffs. We currently have our eye on Salesforce.com (CRM) as a speculative short candidate. Earlier this year, the stock broke its long-term bullish trendline on strong volume – only to find support and settle into a holding pattern. For the time being, CRM has managed to pull above its 50 day average and maintain a premium price. But with the stock currently trading at more than 70 times next year's earnings estimates, and plenty of competition in the area, it's easy to make a case for a continuation of this year's breakdown.
Shortly before the open, equity futures are lower as traders continue to worry about the situation in Europe. We'll have plenty of headlines to track as the drama unfolds, and a number of open trades to manage as we keep our risk levels in check. During times like this, it is important to take a "big-picture" perspective rather than allowing trades to be influenced by the minute-by-minute volatile action. Keep that capital protected as a trader with meager funds has little chance at success. Trade 'em well this week…
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| In the midst of a global crisis, this country's credit rating is being upgraded Posted: 06 Nov 2011 11:50 PM PST From Bloomberg: Fitch Ratings upgraded the outlook for South Korea's long-term foreign currency rating to "positive" from "stable," and affirmed the A+ grade. "Sovereign creditworthiness is strengthening as the sovereign and external balance sheets grow more resilient," Andrew Colquhoun, head of Asia-Pacific Sovereigns at Fitch, said in an e-mailed statement today. Asia's fourth-largest economy has amassed foreign-exchange reserves of $311 billion and the nation's "moderate public debt and long-standing fiscal prudence are key rating strengths," Fitch said. South Korea's economic growth slowed in the third quarter as companies cut spending on concern that the global slowdown and Europe's debt crisis will curtail demand for Asian exports. South Korea secured currency-swap agreements with other nations to shield it from any fallout from Europe's fiscal woes and a faltering recovery in the U.S. and other developed economies. The nation agreed with China to almost double their won-yuan swap line to 64 trillion won ($57 billion) from 38 trillion won. A similar deal was signed with Japan on Oct. 19. Moody's Investors Service sent officials to Seoul in May to conduct an annual review of the nation's sovereign rating, followed by Fitch in September and Standard and Poor's last month. Overseas shipments rose 9.3 percent in October from a year earlier, the slowest pace in two years, while consumer prices gained 3.9 percent from a year ago, moderating from September's 4.3 percent gain to within the central bank's target range of 2 percent to 4 percent. To contact the reporters on this story: Jun Yang in Seoul at jyang180@bloomberg.net; William Sim in Seoul at wsim2@bloomberg.net. To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net. More on Asia: Marc Faber: Buy these dividend stocks now Amazing story of an Asian nation that's going on the gold standard Three reasons gold is guaranteed to go much higher in the long run |
| LISTEN: The Great Global Unraveling Posted: 06 Nov 2011 10:02 PM PST Dominic Frisby talks to Adam Parkin, fundmanger and economist and Michael Hampton, author and trader based in Hong Kong. They discuss the great global unraveling. According to Michael we're heading towards a situation where we have to acknowledge we can't borrow any longer. Michael discusses the differences between money and credit. He expects Greece to leave the euro and the euro, in its current form, not to exist anymore in 3 years from now. Adam discusses the possible outcome of having a Northern euro and Southern euro. They discuss the implementation of an imposed global currency and the dangers of that. Michael is in favour of more personal freedom and discipline. Michael and Dominic argue about the pros and cons of a monetary system based on gold and talk about actions taken by Nixon's administration and other historical events. The monetary system needs discipline says Michael. Michael points out that he doesn't like to see certain powerful people profit from a high gold price. Dominic stresses that the classical gold standard worked better than the pure fiat standard we're now on. They also discuss the differences between Argentina, Greece and Iceland. Finally they talk about the disconnect between the price of gold and the price of mining shares. |
| BrotherJohnF: Silver Update – “Margin Chagrin” Posted: 06 Nov 2011 10:01 PM PST Brother John discusses the bankruptcy of MFGlobal and the margin situation in your 11.6.11 Silver Update. ~TVR |
| Gold & Silver Market Morning, November 7, 2011 Posted: 06 Nov 2011 09:00 PM PST |
| Posted: 06 Nov 2011 08:50 PM PST Precious Metals Stock Review |
| Even Paul Krugman Says a “Gigantic Bank Run” is Coming Posted: 06 Nov 2011 08:47 PM PST
In his Nov. 1 post, the economist every one enjoys making fun of believes the endgame for the euro lies in the breadbasket of the European sovereign debt market, Italy, leading to one of two lynchpin countries, France, to collapse next. Then, it's bedlam. "The question I'm trying to answer right now is how the final act will be played," Krugman writes. "At this point I'd guess soaring rates on Italian debt leading to a gigantic bank run, both because of solvency fears about Italian banks given a default and because of fear that Italy will end up leaving the euro. This then leads to emergency bank closing, and once that happens, a decision to drop the euro and install the new lira. Next stop, France." Krugman states the obvious, of course, but he offers no recommendation for Europeans to protect themselves from the all-but-certain currency devaluations as a result of a broken euro—not that he is expected to do so. But it's times like these, one would think that this quack of economics had a suggestion for Europeans to protect themselves from a currency collapse. Or maybe the collapse of euro is how Treasury will be able to fund its upcoming $628 billion offering in the coming five months without going to war in another part of the world, as he had once suggested. Read More @ beaconequity.com |
| Gold & Silver Edge Higher Overnight Posted: 06 Nov 2011 08:44 PM PST
Greece's politicians agreed on Sunday to form a unity government to approve a euro zone bailout, but uncertainty remained over who will lead the new Greek government amid bitter political divisions and the unspecified timing of early elections. Fuelling this gloomy outlook were events in Italy, where Prime Minister Silvio Berlusconi has one day left before a parliament vote on public finance after his government failed to adopt reforms to defuse a dangerous debt crisis. Italy, the euro zone's third-biggest economy, poses a far graver risk to the 17-nation currency bloc than Greece. With its borrowing costs soaring and 1.9 trillion euros in public debt, it is too large to bail out. Read more @ Reuters.com |
| Surprise! G-20 Considers Gold as Money Posted: 06 Nov 2011 08:41 PM PST Despite how governments and central banks try to dismiss gold, Zerohedge points out that actions speak louder than words: … we learn that gold after all is money, after the G-20 demanded that EFSF (of €1 trillion "stability fund" yet can't raise €3 billion fame) be backstopped by none other than German gold. Per Reuters, "The Frankfurter Allgemeine Sonntagszeitung (FAS) [...] |
| The Supply and Demand for Gold Posted: 06 Nov 2011 06:10 PM PST New World Economics |
| CFTCs evasion after 3 years investigating silver is answer enough Posted: 06 Nov 2011 06:05 PM PST |
| Posted: 06 Nov 2011 06:01 PM PST |
| Richard Maybury: The War that Will Kill the Dollar Posted: 06 Nov 2011 06:00 PM PST A war-mongering U.S. government could be less than 18 months away from decimating the last 5% of value left in the dollar, says Richard Maybury, the author of the U.S. & World Early Warning Report.... Visit the aureport.com for more information and for a free newsletter |
| Why Precious Metals Stocks Are Likely to Rally from Here… Posted: 06 Nov 2011 05:25 PM PST
Based on the November 4th, 2011 Premium Update. Visit our archives for more gold & silver analysis. Is Greece the canary in the coal mine? Less than a week after European leaders crossed the T's and dotted the I's on the debt-restructuring plan for Greece, the prime minister's ruling party called for a surprise referendum on the E.U. debt deal. Then on Thursday he called it off. Sovereign debt and fiat currencies are all paper.
All that is happening only heightens talk about gold as money. But first, let's have a definition of money, it being a subject that interests almost everyone on the planet. Like Voltaire said: "When it's a question of money everyone is of the same religion." Wikipedia defines money as: "Anything that is generally accepted in payment for goods and services and in repayment of debts. The main uses of money are as a medium of exchange, a unit of account, and a store of value." No other commodity has been as universally valued over time and across as many societies as gold and silver. There is an emotional and cultural attachment to it handed down to us through the generations. It is undoubtedly a store of value, it is a unit of account, but is it used as a medium of exchange? Not really, other than in Utah which took steps recently toward making gold legal tender. Other states have proposed similar measures. But people today are completely unfamiliar with the use of gold as money since everyone uses paper money or bank credit money, such as checks and credit cards. According to the Austrian economist Carl Menger, its acceptability in trade is the defining property for money and gold does not fit that criteria. According to Menger, while money undoubtedly does serve as a store of value and a unit of account, these properties are derivative, not definitional properties. The reason that a medium of exchange (money) necessarily is also a store of value is the anticipation of its exchange value in the future. The question of whether any particular good is money, can be articulated thus: Is it accepted as the final means of payment for transactions? At present almost all the nations have their own fiat money or else they belong to a currency union such as the European Union. Some nations use the US dollar. Hardly anywhere do we see gold accepted as a means of payment. So gold must fail the definitional test of being money. So gold is not really money anymore (not yet?), but keep in mind that it does have most of the desirable properties of money. It is durable, portable and easily divisible into bars and coins that share uniform properties. It is easily recognizable. Gold's value and purchasing power are stable over time, as its supply grows slowly and it cannot be created ad infinitum as fiat paper currency can be. For nearly three thousand years since the first gold coins were struck in Lydia in 700 BC, Gold's primary use has been recognized as a medium of exchange. The history of gold as money in coin form spans 2630 years, from 700 BC to about 1930 AD. In comparison, the history of paper and base metal and silver coin in circulation spans only about 40 years, from 1930 to 1970. And the history of paper and base metal coin with no connection to Gold or silver, also spans a period now approaching 40 years – from 1970 until today. So it's 2, 630 years of history for gold as money versus about 40 years for fiat currencies not tethered to gold. Leaving history alone, let's see how the situation looks in the precious metals market this week. We'll begin the technical part of this essay with the analysis of mining stocks. We will start with the very long-term XAU chart (charts courtesy by http://stockcharts.com.) In the very long-term XAU gold and silver miners' index chart, we see that index levels are once again trying to move above their 2008 highs. Once this is accomplished, the next stop appears to be considerably higher, and an upside target levels of 220 and 230 (previous highs) seems reasonable. We have a bullish situation at hand. In the long-term HUI Index chart, the outlook is also bullish. It's important to note that the RSI level here is still not yet in the overbought range. In the past, tops have previously formed when the RSI level was close to 70. This is not the case today, and although price corrections along the way have been significant, the time that it took was pretty insignificant. Gold stocks are now close to the 600 level and once this is taken out will likely approach 640. This is the trading range of the September highs and could very well be reached again. The situation here remains bullish at this time. In the short-term GDX ETF chart, we have seen a breakout which has not yet been confirmed. Based on this factor alone, the situation is only slightly bullish. However, other factors mentioned earlier (XAU and HUI charts) suggest that a move higher is more likely than not. The next target is at the $67 level – at the previous highs. As far as analysis of the junior mining stocks is concerned, we take the long-term approach, so in most cases we review it on a monthly basis. While we will leave our stock picks to our subscribers, we would like to provide you with a quick overview of the whole sector. We will use the TSX Venture index as a proxy for the junior sector. Over a month ago, our SP Long-term Junior Indicator had flashed a buy signal which suggested moving back to the junior sector, and so far it appears to have been a profitable move. The above indicator flashes a buy signal when it moves below the lower dashed line and starts to rise and it flashes a sell signal when the indicator is above the upper dashed line and starts to decline. In this case, we've seen the former and it the outlook for juniors is bullish. As you see, the outlook for juniors reinforces the outlook for senior mining stocks. This is also in line with our outlook on precious metals themselves. The latter was reflected in our latest essay on precious metals and the stock market. In that essay, we wrote the following: As of now, we are still inclined to think that in the very-short term a move up in gold is more possible than not. This obviously doesn't alter our long-term bullish outlook in any way. (…) the analysis of long-term interest rates and of the general stock market suggests possible higher prices across the PM sector in the immediate (!) term. The situation was bullish last week and continues to be so today. At present, this is also backed up by the developments in miners. Summing up, the gold and silver mining stocks appear poised to move higher across the board. This is additionally confirmed by the information coming from the junior market. To make sure that you are notified once the new features are implemented, and get immediate access to my free thoughts on the market, including information not available publicly, we urge you to sign up for our free e-mail list. Gold & Silver Investors should definitely join us today and additionally get free, 7-day access to the Premium Sections on our website, including valuable tools and unique charts. It's free and you may unsubscribe at any time. Thank you for reading. Have a great and profitable week! P. Radomski * * * * * Interested in increasing your profits in the PM sector? Want to know which stocks to buy? Would you like to improve your risk/reward ratio? Sunshine Profits provides professional support for Gold & Silver Investors and Traders. Apart from weekly Premium Updates and quick Market Alerts, members of the Sunshine Profits' Premium Service gain access to Gold Charts, Gold Investment Tools and Analysis of Gold & Silver Prices Naturally, you may browse the sample version and easily sign-up for a free weekly trial to see if the Premium Service meets your expectations. All essays, research and information found above represent analyses and opinions of Mr. Radomski and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Mr. Radomski and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above belong to Mr. Radomski or respective associates and are neither an offer nor a recommendation to purchase or sell securities. Mr. Radomski is not a Registered Securities Advisor. Mr. Radomski does not recommend services, products, business or investment in any company mentioned in any of his essays or reports. Materials published above have been prepared for your private use and their sole purpose is to educate readers about various investments. By reading Mr. Radomski's essays or reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these essays or reports. Investing, trading and speculation in any financial markets may involve high risk of loss. We strongly advise that you consult a certified investment advisor and we encourage you to do your own research before making any investment decision. Mr. Radomski, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
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| Bullion banks, CME try to hobble CFTC, Maguire tells King World News Posted: 06 Nov 2011 05:10 PM PST |
| Gold in Modern Times (1800 onwards) Posted: 06 Nov 2011 04:30 PM PST goldipedia |
| Bundesbank: central bank reserves will not help fund EFSF Posted: 06 Nov 2011 04:11 PM PST Bundesbank: central bank reserves will not help fund EFSF FRANKFURT/BERLIN | Sat Nov 5, 2011 3:55pm EDT (Reuters) - Germany on Saturday rejected media reports that Bundesbank reserves would be used to fund the euro zone's rescue facility after German newspapers said Group of 20 leaders had discussed the idea of tapping central banks. The Frankfurter Allgemeine Sonntagszeitung (FAS) reported that Bundesbank reserves -- including foreign currency and gold -- would be used to increase Germany's contribution to the crisis fund, the European Financial Stability Facility (EFSF) by more than 15 billion euros ($20 billion). The European Central Bank (ECB) would own the reserves, according to the paper, citing sources at the G20 meeting held in Cannes this week. The Welt am Sonntag newspaper, citing similar plans, said 15 billion euros would come from special drawing rights (SDR) that the Bundesbank holds. "Germany's gold and foreign exchange reserves, which the Bundesbank administers, were not at any point up for discussion at the G20 summit in Cannes," government spokesman Steffen Seibert said. G20 leaders in Cannes discussed the idea that the European System of Central Banks could pawn their total foreign exchange reserves of 50-60 billion euros to a trust of the European crisis fund in the form of special drawing rights from the International Monetary Fund (IMF), the newspapers said. "We know this plan and we reject it," a Bundesbank spokesman said. Seibert said several partners had raised the question in Cannes whether SDRs could be used to strengthen the EFSF but Germany had rejected this plan and discussions at Monday's Eurogroup on Monday would not discuss this topic. The newspapers had said the issue was taken off the agenda at the G20 following Bundesbank opposition but that it would be debated on Monday at a Eurogroup meeting of euro zone finance ministers. (Reporting by Harro ten Wolde, Annika Breidthardt and Marc Jones; Editing by Mark Heinrich) http://www.reuters.com/article/2011/...7A428Y20111105 |
| G-20 Demands German Gold To Keep Eurozone Intact Posted: 06 Nov 2011 12:13 PM PST From ZeroHedge: Going back to the annals of brokeback Europe, we learn that gold after all is money, after the G-20 demanded that EFSF (of €1 trillion "stability fund" yet can't raise €3 billion fame) be backstopped by none other than German gold. Per Reuters, "The Frankfurter Allgemeine Sonntagszeitung (FAS) reported that Bundesbank reserves — including foreign currency and gold — would be used to increase Germany's contribution to the crisis fund, the European Financial Stability Facility (EFSF) by more than 15 billion euros ($20 billion)." And who would be the recipient of said transfer? Why none other than the most insolvent of global hedge funds, the European Central Bank…There are three observations to be made here: i) when it comes to rescuing insolvent countries, Germany is delighted to sacrifice euros at the altar of the 50-some year old PIIGS retirement age; ask for its gold however, and things get ugly; ii) the Eurozone, the ECB and the EFSF are dead broke, insolvent and/or have zero credibility in the capital markets, and they know it and iii) due to the joint and several nature of the ECB's capital calls, while Germany may have had enough leverage to tell G-20 to shove it, the next countries in line, especially those which are already insolvent and will rely on the EFSF for their existence once the ECB's SMP program is finished, may not be that lucky, and in exchange for remaining in the eurozone, the forfeit could well be their gold.
Read more @ ZeroHedge.com |
Germany Economy Minister Philipp Roesler said on Monday the country's gold reserves with the central bank cannot be touched, adding his voice to opposition to an idea reportedly discussed at the G20 summit of using reserves to boost euro zone bailout funds.
After reaching its correction-low of $1,532 per troy ounce, the gold price has recovered in recent weeks, reaching close to $1,770 per troy ounce in early trading today. Gold prices remain well supported by "easy" central bank policies. Last week saw the European Central Bank lowering its key interest rate by 0.25%, while officials at the US Federal Reserve are dropping hints about new bond purchases by the Fed.
Welcome to yet another critical week for global investors…
A "gigantic bank run" is imminent, so says Nobel Prize winner economist Paul Krugman.
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