Gold World News Flash |
- London Precious Metals Catch Up with Indian Slump, China Ban, Fall to 2-Week Low
- Silver unable to sustain price rallies
- Silver Update 12/28/11: The Final Smackdown
- Embry - Physical Gold & Silver Tight Because of Eastern Buying
- John Embry: Physical Gold & Silver Tight Because of Eastern Buying
- China and Japan Deliver A Huge Blow To the U.S. Dollar!!!
- 2012 will be harder for metals price suppression, Embry tells King World News
- Gold Seeker Closing Report: Gold and Silver Fall Over 2% and 5%
- Is It Too Late To Buy Gold & Silver? - Mike Maloney
- Platinum: Fire Sale on the Rich Man's Gold. What Makes Platinum Precious Enough to be Called Rich Man's Gold
- Gold Near-Term Outlook 2012
- 40 Hard Questions That The American People Should Be Asking Right Now
- The Moment of Truth
- 2012 Offers Few Reasons for Optimism
- SLV Trustee BNY Mellon in Trouble?
- CNN POLL IS COMPLETE & UTTER BULLSHIT
- John Lee: Fire sale on the rich man's gold
- Harvey Organ's Daily Gold & Silver Report
- GOLD & SILVER SALE: WHILE SUPPLIES LAST
- Italian Bonds Return To 7%. Markets Plummet / Raid On Gold And Silver
- Hathaway - Central Banks to Begin Dumping Dollars for Gold
- The Gold Price Fell After Breaking Support, New Support at $1,535 - $1,500
- Gold Price Consolidates Below $1,600
- Gold Falls 2% on Dollar Strength, Stop-Loss Selling
- Peter Grant: Gold near-term outlook 2012
- $10,000 Gold is Coming in 2012/13! Here?s Why
- Tocqueville's Hathaway sees 'panic liquidation' in gold
- JB Slear on Today's Gold and Silver Smash
- HUI on Target for a Losing Year
- Citing 'financial repression,' FT's Gillian Tett sounds like Jim Rickards and Rob Kirby
| London Precious Metals Catch Up with Indian Slump, China Ban, Fall to 2-Week Low Posted: 28 Dec 2011 06:16 PM PST Bullion Vault
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| Silver unable to sustain price rallies Posted: 28 Dec 2011 06:00 PM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Silver has become the victim of the deflationary mindset trade with RISK AVERSION leading to a significant outflow of speculative money from the grey metal. I have said repeatedly that Silver will not go anywhere as long as INFLATIONARY FEARS are NOT foremost in traders' minds. Note the following Gold/Silver ratio chart which details this exact thing. This ratio began moving in favor of Silver only after the Federal Reserve first announced and then began its Quantitative Easing programs back in late 2008. You can see the line beginning a steady decline as Silver appreciated at a faster rate than Gold during rallies as well as holding its losses to a minimum compared to the Yellow Metal during any setbacks in prices for both metals. Not until the Fed confirmed the ending of the QE2 program and traders began worrying about a slowdown in the amount of liquidity being supplied to the markets d...
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| Silver Update 12/28/11: The Final Smackdown Posted: 28 Dec 2011 05:42 PM PST |
| Embry - Physical Gold & Silver Tight Because of Eastern Buying Posted: 28 Dec 2011 04:59 PM PST These are all precursors to a major move and I think it could get started quite quickly....
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| John Embry: Physical Gold & Silver Tight Because of Eastern Buying Posted: 28 Dec 2011 04:29 PM PST from King World News:
John Embry continues: Read More @ KingWorldNews.com
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| China and Japan Deliver A Huge Blow To the U.S. Dollar!!! Posted: 28 Dec 2011 04:17 PM PST  
This posting includes an audio/video/photo media file: Download Now |
| 2012 will be harder for metals price suppression, Embry tells King World News Posted: 28 Dec 2011 04:03 PM PST 12:03a ET Thursday, December 29, 2011 Dear Friend of GATA and Gold (and Silver): Sprott Asset Management's John Embry tells King World News that the fundamentals supporting gold and silver as insurance against monetary debasement remain in place, that Asian demand for the metals is strong, that the market manipulators have an easy time pushing futures prices down during the holiday week, and that he expects 2012 to bring lots more "quantitative easing" and sharply rising metal prices. An excerpt from the Internet is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/29_E... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Completes Operating Agreement Golden Phoenix Minerals Inc. (GPXM) has entered a joint venture operating agreement with Silver Global S.A., a Panamanian corporation, governing the operational and management aspects of their new joint venture company, Golden Phoenix Panama S.A., a Panamanian corporation formed to hold and operate the Santa Rosa gold mine in Canazas, Panama, and explore the mine's adjacent property. Golden Phoenix will be manager of the joint venture company. Silver Global will handle all social programs, political and community relations, and human resource matters for the joint venture company in Panama. Golden Phoenix and Silver Global also have agreed to work together on all future acquisitions within Panama and to bring such new opportunities to the joint venture company. Golden Phoenix will be earning in to a 60 percent interest (and potentially an 80 percent interest) in the Santa Rosa mine. Upon signing the joint venture agreement and completing the corresponding acquisition payment, Golden Phoenix will earn an initial 15 percent interest in the joint venture company. Tom Klein, CEO of Golden Phoenix, says the agreement "creates a solid foundation for the development and planned re-opening of Mina Santa Rosa." For Golden Phoenix's full statement on the joint venture operating agreement, please visit: http://goldenphoenix.us/press-release/golden-phoenix-completes-joint-ven... Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... 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 Sonora Aims to Follow First Majestic's Success Sonora Resources (OTCBB: SURE) is a silver mining exploration company focused on the development of prospective opportunities in Mexico. The company president and CEO is Juan Miguel Rios Gutierrez, who helped build First Majestic Silver Corp., which began trading for pennies and today is at more than $16 per share. Gutierrez was the fourth person to join First Majestic Silver, originally as general manager, then manager for new business initiatives and strategic planning. He left First Majestic Silver to work with Sonora Resources and yet maintains strong contacts with First Majestic. In fact, First Majestic is a large shareholder in Sonora and has a joint venture with the company. For more information about Sonora Resources, please visit: http://www.SonoraResources.com
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| Gold Seeker Closing Report: Gold and Silver Fall Over 2% and 5% Posted: 28 Dec 2011 04:00 PM PST Gold fell to $1581.38 by about 5:30AM EST before it rebounded to $1592.77 at about 9AM EST, but it then fell throughout most of trade in New York and ended near its late session low of $1549.40 with a loss of 2.44%. Silver bumped back up to $28.79 in London before it also fell back off in New York and ended near its late session low of $26.849 with a loss of 5.72%.
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| Is It Too Late To Buy Gold & Silver? - Mike Maloney Posted: 28 Dec 2011 03:30 PM PST With the recent price drop precious metals over the past month, many people are wondering if the pm bull market is coming to an end...
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| Posted: 28 Dec 2011 03:05 PM PST from Prophecyplat.com:
About 2000 years ago, Aristotle explained why gold remained the ideal choice of money throughout major nations and civilizations. In words that are just as relevant today, he said "Gold is durable, not like wheat, divisible, not like diamonds, convenient, not like lead, constant, not like real estate, and best of all, as jewelry, it has intrinsic value". Among the most rare, valuable and sought after metals on Earth, platinum shares these same characteristics with gold. Platinum Guild International names platinum as the "most precious" of the precious metals based on its relative scarcity as well as for the following reasons: (1) The annual supply of platinum is only about 6.4 million oz. – which is equivalent to only 7.4% of the annual gold production and 0.87% of silver's annual mine production.
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| Posted: 28 Dec 2011 03:02 PM PST by Peter Grant, USAGold.com:
That's pretty impressive given the dramatic delveraging sell-off from the 1920.50 record high we saw in September, which prompted all manner of commentary proclaiming the end of gold's decade-long rally. More recently — amid another bout of deleveraging associated with rising uncertainty about the fate of European Union — the yellow metal retested the September low at 1534.06 along with important channel support. While much was made of the technical damage done by the recent move below the 200-day moving average, gold continues to display good resilience, underpinned by solid fundamentals.
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| 40 Hard Questions That The American People Should Be Asking Right Now Posted: 28 Dec 2011 02:51 PM PST from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Posted: 28 Dec 2011 02:49 PM PST from TFMetalsReport.com:
[...] Well, anyway, we've reached our own Moment of Truth. It's all on the line. This is the place. This is the time. Tonight, gold rests squarely upon the trendline from the lows of three years ago, back during The Great Financial Crisis. Back then, Dennis Gartman couldn't even spell "quantitative easing", much less define it. Back then, the great con artist Bobby P was trying to convince all of his clueless subscribers that gold was immediately headed to $275. Back then, the idiot GeorgeW was still president and my mother still referred to me by my given name. Its been a long, crazy road. Gold has approached the trendline at least seven times over the past three years. Each time, gold has held and the uptrend has continued. Will it do so again? Maybe. Notice that I did not say "definitely" or "absolutely". I said "maybe" and I mean it. Read More @ TFMetalsReport.com
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| 2012 Offers Few Reasons for Optimism Posted: 28 Dec 2011 02:43 PM PST By: John Browne Wednesday, December 28, 2011 As the year draws to a close, understandable confusion reigns in the minds of many investors. While short-term indicators, such as consumer confidence, appear to beckon recovery, the longer-term strategic issues remain shrouded in the smoke and mirrors of central bank monetary manipulation. From the perspective of someone who has keenly observed global economics for more than a half century, I see little reason to believe that our economic morass will soon improve. Indeed, I do not believe we will see meaningful change until the Breton-Woods era of U.S. dollar dominated paper money finally comes to an end. In other words, our current experiment in unlimited monetary expansion will continue until it explodes. In the meantime, there is holiday spending to cheer us. From early reports, it appears that consumer spending in November and December was ...
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| SLV Trustee BNY Mellon in Trouble? Posted: 28 Dec 2011 02:37 PM PST Now it appears the the trustworthiness of the trustee is coming into question. As the church lady would say: "Well, isn't that special?"
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| CNN POLL IS COMPLETE & UTTER BULLSHIT Posted: 28 Dec 2011 01:53 PM PST SHOCKING NEWS!!! THE CNN POLL SHOWING ROMNEY LEADING IN IOWA IS COMPLETE & UTTER BULLSHIT!!!! December 28, 2011, 5:45 pm New Iowa Poll May Understate Paul's Support By NATE SILVER I'm not always a big fan of dissecting individual polls — mostly because there are liable to be a plethora of them in Iowa and [...]
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| John Lee: Fire sale on the rich man's gold Posted: 28 Dec 2011 01:46 PM PST 9:40p ET Wednesday, December 28, 2011 Dear Friend of GATA and Gold: If you're starting to despair of gold's chances of escaping the market manipulations of central bankers, Prophecy Platinum Chairman John Lee would have you take a look at his metal, "the rich man's gold" -- exceedingly rare, largely consumed in manufacturing, cheap (for the moment anyway), having monetary properties, and without any large stockpile to be drafted into the support of market rigging. Lee's commentary is headlined "Fire Sale on the Rich Man's Gold" and it's posted at Prophecy's Internet site here: http://prophecyplat.com/news_2011_dec_platinum_rich_mens_gold.php CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT The United States Once Again Can Establish 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 Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing a silver commemorative coin: 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 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.
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| Harvey Organ's Daily Gold & Silver Report Posted: 28 Dec 2011 01:25 PM PST Italian bonds return to 7%. Markets plummet/Raid on gold and silver
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| GOLD & SILVER SALE: WHILE SUPPLIES LAST Posted: 28 Dec 2011 12:59 PM PST  GOT GOLD YOU CAN HOLD? GOT SILVER YOU CAN SQUEEZE? IT'S NOT TOO LATE TOO ACCUMULATE! 
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| Italian Bonds Return To 7%. Markets Plummet / Raid On Gold And Silver Posted: 28 Dec 2011 11:14 AM PST by Harvey Organ: Good evening Ladies and Gentlemen: Today bourses around the globe were in the red as many see the insolvency of the situation and not the lack of liquidity. The German Dax was down over 2% and the Dow fell by 140 points. Our bankers hit paper gold and paper silver down big time as they knew that they have no opposition in the paper field due to investors leaving the comex because of the MFGlobal scandal. The CME reported very late yesterday evening for the first time since Dec 22.2011. Somehow they did not file Friday Dec 23.2011 inventory movements. When they released Dec 27.2011 last night the registered gold inventory was down to 2.531 million oz from 2.89 million oz. That is a lot of gold leaving and no entry to show for it. Read More @ HarveyOrgan.Blogspot.com
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| Hathaway - Central Banks to Begin Dumping Dollars for Gold Posted: 28 Dec 2011 11:05 AM PST driving the price of gold higher will be central banks who are worrying about all of their dollar reserve assets that are being overtly debased.
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| The Gold Price Fell After Breaking Support, New Support at $1,535 - $1,500 Posted: 28 Dec 2011 10:52 AM PST Gold Price Close Today : 1562.90 Change : (31.30) or -2.0% Silver Price Close Today : 2719.20 Change : 150.5 cents or -5.2% Gold Silver Ratio Today : 57.476 Change : 1.924 or 3.5% Silver Gold Ratio Today : 0.01740 Change : -0.000602 or -3.3% Platinum Price Close Today : 1384.00 Change : -53.10 or -3.7% Palladium Price Close Today : 632.45 Change : -31.05 or -4.7% S&P 500 : 1,249.64 Change : -15.79 or -1.2% Dow In GOLD$ : $160.72 Change : $ 1.36 or 0.9% Dow in GOLD oz : 7.775 Change : 0.066 or 0.9% Dow in SILVER oz : 446.87 Change : 18.56 or 4.3% Dow Industrial : 12,151.41 Change : -139.94 or -1.1% US Dollar Index : 80.50 Change : 0.702 or 0.9% The GOLD PRICE fell 2% ($31.30) on Comex to $1,562.90. If it had only stopped there, it wouldn't have been so bad, but it lost another ten bucks in the aftermarket. Meanwhile the SILVER PRICE lost 5.2% (150.5c) to close at 2719.2c. Low came at 2689c. Low for gold at $1,549.66. No surprise here, since we all knew that if SILVER and GOLD broke support, they would fall a good piece. Silver must now reckon with 2615c and gold with $1,535 - $1,500, maybe even $1,475. The break today for the GOLD PRICE came around $1,582. For silver it was 2850c, whence it fell a dollar and a half. SILVER's condition is more precarious. Below that 2615c shelf lies very little support to catch silver. Oh, there's a little bit at 2500c, and another little bit at 2250c, but below that it's 2000c or lower. Here's a little straw in the wind. The premium on US 90% silver coin, a reliable indicator, has risen. Generally that means silver is nearing some bottom or getting ready to rise, since it implies that sellers are becoming much more reluctant to part with their silver. Silver's RSI is also very low and oversold, but of course oversold can always get more oversold.. Big success story is the GOLD/SILVER RATIO, which reinforces for us the wisdom of trading the gold/silver swapping strategy. Our customers who this time last year swapped out of silver into gold, even though later events showed that we swapped too early, can now swap that gold back into silver and realize gains of more than 25% in silver ounces. You think they're crying? Not much. Market played with our 57.50:1 ratio target today, but never really climbed above that. Comex closed at 57.476. Unless silver gives a dead cat bounce tomorrow, we ought to see our ratio target met at 57.5:1. If you do not have an open order with us, I can only say, "Please take a place in line." We were swamped today, and I apologize for the delays, but if we had 200 people working here it wouldn't suffice at times like these. Leave a message, be patient, we will get to you. Adding to the frenzy were people who have been waiting for silver and gold to hit these levels to BUY. I can't argue with them, because I've been here so many times before. Surest way to lose is to keep holding out for just another dime lower. You never get it, because greed is never satisfied. Best to pick a number you can live with, and buy when the market hits that number, sucking in your gut and outraging your fears. Remember the proverb, "Bulls get rich, and bears get rich, but pigs get slaughtered." FEAR took over the wheel again today. News reports claim that investors are worried about Italy's sale of long term debt tomorrow. News reports do not say why they weren't worried about it yesterday, when it was every bit as big a problem. If Diogenes thought he had a tough time finding an honest man 2,500 years ago, that couldn't compare to the difficulty of finding a rational man today. Stocks bounced off the fatal 12,300 level by 139.94 points (1.14%) to close at 12,151.41. S&P500 ricocheted also, down 15.79 (1.25%) to 1,249.64, and "in negative territory for the year" as the current prating and prattling mantra expresses it. Fear is fatal to stocks, and fear won't go away. The specter of Europe is haunting stocks. The new year will not exorcise the demon. US dollar index today rose 0.9%, 70.2 basis points, to the top of its recent range at 80.499. Once it cleared that 79.80 mark, it shot up like a bottle rocket. Fear will also drive the dollar higher, even though that's like fleeing a lion and finding safety in a bear's den. Euro dropped 0.98% today and hit a 15 month low at 1.2941. 1.2000 doesn't look so far away now, does it? Japanese Yen climbed today as if it meant to gain ground, but at day's end was lower than yesterday by 0.12% at 128.28c/Y100 (Y77.95-$1). Dollar is king in the land of scrofulous, scurvy, scruffy, and scary fiat currencies. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2011, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. 
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| Gold Price Consolidates Below $1,600 Posted: 28 Dec 2011 10:37 AM PST "As a consequence, we can expect less downside volatility – and a more sustainable bull market with much higher prices in the years to come."
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| Gold Falls 2% on Dollar Strength, Stop-Loss Selling Posted: 28 Dec 2011 10:10 AM PST debt crisis is threatening the global economy, causing a liquidity shortage in markets forcing investors to abandon their gold positions to cover losses elsewhere.
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| Peter Grant: Gold near-term outlook 2012 Posted: 28 Dec 2011 09:54 AM PST 5:49p ET Wednesday, December 28, 2011 Dear Friend of GATA and Gold: Market analyst Peter Grant of Centennial Precious Metals in Denver today reviews gold's year -- up 14 percent despite the recent downturn -- and offers his forecast for the metal's price for the early part of 2012, which he thinks will be supported by excellent fundamentals as well as ever-lengthening zero-interest-rate policies at central banks. Grant's commentary is headlined "Gold Near-Term Outlook 2012" and it's posted at Centennial's Internet site, USAGold, here: http://www.usagold.com/amk/specialreport123011.html CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Drills 384.9 Meters Grading 0.623 g/t PGM+Au, Company Press Release VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the final drill results from 2011 drilling at the company's fully owned Wellgreen platinum group metals, nickel, and copper project in the Yukon Territory. Borehole WS11-192 intercepted 384.9 meters of 0.45 percent nickel equivalent starting from 9.45 meters depth. Included in this greater interval of continuous mineralization is a platinum group metals-rich zone with a combined platinum-palladium-gold grade of 1.358 grams per ton over 19.23 meters (nickel equivalent 0.74%). The final drilling results for 2011 have shown the Wellgreen Central-East and Central-West deposits to be one contiguous body, whereby there is good potential to broaden significantly the Central-West resource base, which currently contributes only about a quarter of the current 43-101 compliant resource at Wellgreen. Overall the drilling program met with good success in expanding the resource to the east and south. The long drill intercepts suggest the deposit remains very much open in those directions. For the complete drilling results and the full company statement, please visit: http://prophecyplat.com/news_2011_dec08_prophecy_platinum_wellgreen_dril... Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... 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 Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf
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| $10,000 Gold is Coming in 2012/13! Here?s Why Posted: 28 Dec 2011 09:52 AM PST I am increasingly confident that the consequences of fragile sovereign debt, precious metals market manipulation, insufficient physical supply, and the need for a safe haven investment refuge, will contribute to rampant price inflation and drive precious metals bullion and mining stock to a parabolic peak price of $10,000 sometime in 2012 or 2013 at the latest. You may think my views are crazy or perhaps that my imagination is way out of hand or, at best, that I don't have access to the appropriate reality checks but the reality of the situation is that we are going to see $10,000 gold in the next* year (or two)! Read on for what I believe to be very sound reasons for coming to such a conclusion. Words:*1102 So says [B]Arnold Bock (www.FinancialArticleSummariesToday.com)[/B]*in an updated version of an article written back in 2010*in which*the passage of time has only strengthened his assertion. Please note that this paragraph must be included in any article re-posting to avoid copyrig...
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| Tocqueville's Hathaway sees 'panic liquidation' in gold Posted: 28 Dec 2011 09:42 AM PST 5:35p ET Thursday, December 29, 2011 Dear Friend of GATA and Gold: Tocqueville Gold Fund manager John Hathaway today comments to King World News about indicators of a bottom in gold, including "panic liquidation." An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/28_H... Meanwhile, full audio of GoldMoney founder James Turk's most recent interview with King World News is posted here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/28_... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover 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: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing a silver commemorative coin: 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 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
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| JB Slear on Today's Gold and Silver Smash Posted: 28 Dec 2011 09:41 AM PST Gold and silver delivery man JB Slear states that physical metal purchasing has picked up DRAMATICALLY with today's PM smash.
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| HUI on Target for a Losing Year Posted: 28 Dec 2011 09:31 AM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] The mining stocks are on course for a losing year, one which has been extremely disappointing for those who bought the shares in anticipation of higher gold and silver prices, only to see that take place but then having to witness the spectacle of the shares themselves lagging poorly over the last 12 months. Between Hedge funds playing that infernal Spread trade and "Risk Aversion" related selling, they could not get anything going. Toss in the fact that more and more those looking for leveraged exposure to gold and/or silver, can buy the ETF's directly, thereby eliminating exposure to such variables as poor management, strikes, nationalization fears, environmentally-related litigation issues, risking input costs, and it seems that the shares are falling out of favor with the hot money crowd. Something will have to change on this front next year to see this sector attract consistent buying. Di...
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| Posted: 28 Dec 2011 09:28 AM PST Suppressing the gold price is a crucial piece of the "financial repression" cited here, as a rising gold price would advertise the theft perpetrated by government bonds paying a negative interest rate. * * * Ties Between Sovereigns and Banks Set to Deepen By Gillian Tett http://www.ft.com/intl/cms/s/0/7830bb98-2cbc-11e1-aaf5-00144feabdc0.html A few weeks ago, some senior officials at Bank of Tokyo Mitsubishi spotted a fascinating fact: For the first time the volume of Japanese government bonds sitting on the bank's balance sheet swelled above corporate and consumer loans. Yes, you read that right: At an entity such as Bank of Tokyo Mitsubishi, it is now the government -- not the private sector -- which is grabbing most credit, as the bank gobbles up JGBs, notwithstanding rock-bottom low rates. Welcome to a key theme of 2012. During the past four decades, it was widely assumed in the Western world that the main role of banks and asset managers was to provide funding to the private sector, rather than act as a piggy bank for the state. But now that assumption -- like so many of the other ideas that dominated before 2007 -- is quietly crumbling. And not just in Japan. ... Dispatch continues below ... ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf In Europe, Nicholas Sarkozy, French president, indicated this month that he is keen for banks to use their E489 billion European Central Bank bonanza to purchase more eurozone government bonds. Asset managers in places such as Spain and Ireland are now facing pressure to acquire more sovereign debt, or quasi-sovereign bonds, as debt pressures bite there. More subtly, British banks are being required to buy more sterling bonds, as a result of regulatory reform. Even in the US, government officials and bank leaders have recently taken to muttering that American banks have an unusually low holding of US government bonds, by international standards. The unspoken assumption, then, is that as western debt levels rise, banks and asset managers' holdings of state debt will grow too -- never mind that western sovereign debt is looking riskier by the day. Now in part this is simply a knee-jerk consequence to the current crisis. And in a sluggish world where private sector demand for credit is limited, it arguably might make macro economic sense for the banks to lend more to government. But the really big question now, that investors would do well to ask, is whether this trend also reflects a stealthy slide towards a wider process of quasi-financial repression. To understand this, it is worth taking a look at a fascinating recent working paper by Carmen Reinhart and M. Belen Sbrancia, published by the Bank for International Settlements* but drawing on earlier work for the International Monetary Fund. The arguments in this paper are complex. For an excellent description, see John McDermott's posts on FT Alphaville: http://ftalphaville.ft.com/blog/2011/12/12/793411/financial-repression-p... But what Reinhart and Sbrancia argue is that if you want to understand how the West cut its debts during the last great bout of deleveraging, namely after the Second World War, then do not just focus on austerity or growth; instead, the crucial issue is that during that period, the state engineered a situation where the yields on government bonds were kept slightly below the prevailing rate of inflation for many years. This gap was not vast. But since asset managers and banks continued to buy those bonds at unfavourable prices, this implicit, subtle subsidy from investors helped the government to cut its debt pile over several years. Indeed, Reinhart and Sbrancia calculate that such "repression" accounted for half of the post-Second World War fiscal adjustment in the US and UK, due to the magic of compounding. Now these days it is hard to imagine any Western government overtly calling for a second wave of such "repression." After all, as Kevin Warsh, a former Fed governor, recently pointed out, the drawback of financial repression is that it curbs private-sector investment and credit growth. And in any case, it is a moot point whether such repression could even be implemented today, given the globalised nature of markets. Nevertheless, the political incentives to flirt with this concept are clear. After all, the beauty of a stealth subsidy is precisely that: It is too subtle for most voters to understand. It is also arguably a more equitable form of burden sharing, and thus less politically divisive, than, say, state spending cuts. Moreover, governments do not necessarily need to be "repressive" to achieve the "repression" trick. As the economist Alan Taylor observes, if investors are so terrified that they cannot see alternative investment choices, they may end up buying government bonds by default -- even at unattractive prices. Indeed, that is arguably what is already occurring today in the Treasuries market, or the world of JGBs. And, perhaps, in the eurozone too. After all, when eurozone banks were given E442 billion of ECB money two years ago, they used half of this to buy government bonds -- without compulsion at all. Whatever you want to call it, then, the state and private-sector finance are becoming more entwined by the day. It is a profound irony of 21st-century "market" capitalism. And in 2012, it will only deepen. ----- * -- BIS working paper 363: "The Liquidation of Government Debt" by Carmen Reinhart and M. Belen Sbrancia (with discussion by Ignacio Visco and Alan Taylor.) Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... 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 Drills 384.9 Meters Grading 0.623 g/t PGM+Au, Company Press Release VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the final drill results from 2011 drilling at the company's fully owned Wellgreen platinum group metals, nickel, and copper project in the Yukon Territory. Borehole WS11-192 intercepted 384.9 meters of 0.45 percent nickel equivalent starting from 9.45 meters depth. Included in this greater interval of continuous mineralization is a platinum group metals-rich zone with a combined platinum-palladium-gold grade of 1.358 grams per ton over 19.23 meters (nickel equivalent 0.74%). The final drilling results for 2011 have shown the Wellgreen Central-East and Central-West deposits to be one contiguous body, whereby there is good potential to broaden significantly the Central-West resource base, which currently contributes only about a quarter of the current 43-101 compliant resource at Wellgreen. Overall the drilling program met with good success in expanding the resource to the east and south. The long drill intercepts suggest the deposit remains very much open in those directions. For the complete drilling results and the full company statement, please visit: http://prophecyplat.com/news_2011_dec08_prophecy_platinum_wellgreen_dril...
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With near panic in the gold and silver markets, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management to get his take on where he sees gold, silver and the mining shares headed. When asked about the action in gold, Embry said, "It's disappointing in the sense that it shouldn't be happening. I can't say that I'm totally surprised, you are in the quietest period of the year. These guys (manipulators) are sociopaths. They've basically taken the opportunity here to just take gold and silver to the cleaners in the paper market in an extraordinarily quiet period."
Gold is consolidating below $1600 as we enter the last week of the year. The last London gold fix of 2010 was $1405, so barring any dramatic price changes in the last week of the year, the yellow metal is on-track for yet another double-digit gain of about 14%.
If you spend much time watching the mainstream news, then you know how incredibly vapid it can be. It is amazing how they can spend so much time saying next to nothing. There seems to be a huge reluctance to tackle the tough issues and the hard questions. Perhaps I should be thankful for this, because if the mainstream media was doing their job properly, there would not be a need for the alternative media. Once upon a time, the mainstream media had a virtual monopoly on the dissemination of news in the United States, but that has changed. Thankfully, the Internet in the United States is free and open (at least for now) and people that are hungry for the truth can go searching for it. Today, an increasing number of Americans want to understand why our economy is dying and why our national debt is skyrocketing. An increasing number of Americans are deeply frustrated with what is going on in Washington D.C. and they are alarmed that we seem to get closer to becoming a totalitarian police state with each passing year. People want real answers about our foreign policy, about our corrupt politicians, about our corrupt financial system, about our shocking moral decline and about the increasing instability that we are seeing all over the world, and they are not getting those answers from the mainstream media.
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