Gold World News Flash |
- Dollar Index Disguises Global Inflation Threat
- Asian Metals Market Update
- The Last Days Of America? 25 Signs Of Extreme Social Decay
- Gold Daily and Silver Weekly Charts – Have a Cuppa – Physical Gold Market ‘Fierce’ – $1810 Key Level
- Best SHTF Weapon – A Shotgun?
- London Trader – Bullion Banks Had To Halt Gold’s Advance
- Silver demand likely to depend on Indian investors
- Gold Seeker Closing Report: Gold and Silver Gain Almost 1%
- Amtrak Loses $833.8 million In Decade, on Snacks
- In The News Today
- The U.S. Suffers a Huge Gold Deficit As Record Amounts Are Exported To Switzerland, London, and Hong Kong
- Spain denies bailout request/Troika walks away from Greece/gold and silver rebound
- Metals Miscellany
- Mexican journalist tracks down his country's gold -- in London
- Harte Gold’s Sugar Zone Project Moving Ahead with Swift Timelines & Experienced Management on Board
- Jonathan Kosares: Dollar index disguises global inflation threat
- Gold was only $10 away from 'commercial signal failure,' London trader says
- 96% of Mexico's Gold Reserves in London & NY
- The Silver and Gold Price Remain in a Correction Despite this Gold Rose $8.70 Today to Close at $1,744.70
- London Trader - Bullion Banks Had To Halt Gold’s Advance
- Gold Rebounds Following Large Range Down Day
- Jim Rogers : Gold & Silver will both go much, much higher over the course of the bull market. The bull market has years to go
- Gold Daily and Silver Weekly Charts - Have a Cuppa - Physical Gold Market 'Fierce' - $1810 Key Level
- What Will the Price of Gold Be in January 2014?
- Gold and Silver Mining Stocks Hold Well Despite Metals' Correction
- Gold futures score first gain in three sessions
- Gold market too tight for waterfall decline, London trader tells King World News
- Two Reasons Why the Gold Market is Under Pressure
- Grandich Client Oromin Explorations
- London Trader - Competition To Buy Physical Gold Is Fierce
| Dollar Index Disguises Global Inflation Threat Posted: 17 Oct 2012 08:11 AM PDT When the U.S. Dollar Index peaked at 120.51 in January of 2002, few suspected that it was on the brink of a one-directional correction that would ultimately erase a third of its value. In fact, in just three short years, the dollar index shed, on average, a point a month before ultimately hitting a low of 80.77 in January of 2005. This sharp decline in the dollar index coincided with, and largely fueled, the first few years of the now decade-old bull market in gold.
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| Posted: 17 Oct 2012 12:03 AM PDT A weaker US dollar, higher stock markets, technical bullishness and huge physical demand of gold in India and other Asian nations has resulted in gains for gold and silver. Copper and crude oil are looking bullish. As long as the US dollar continues to weaken commodities will rise further.
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| The Last Days Of America? 25 Signs Of Extreme Social Decay Posted: 17 Oct 2012 12:00 AM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollpaseBlog.com
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| Gold Daily and Silver Weekly Charts – Have a Cuppa – Physical Gold Market ‘Fierce’ – $1810 Key Level Posted: 16 Oct 2012 11:27 PM PDT from Jesse's Café Américain:
I include an updated chart showing the formation of a potential cup and hand on the gold daily chart. London Trader describes the competition to buy physical gold at these levels as 'fierce' and is seeing heavy buying stepping in as even central banks wish to convert dollars and euros to gold. In a subsequent post London Trader says that there would have been at least a partial commercial capitulation if gold had broken through $1810 on its last move higher. Interestingly enough $1810 is where I would look for confirmation for a breakout from the cup and handle formation. Apparently quite a few of the shorts see this as well, and have set their stops there. Read More @ Jesse's Café Américain:
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| Best SHTF Weapon – A Shotgun? Posted: 16 Oct 2012 10:30 PM PDT by Henry Shivley, fromthetrenchesworldreport:
Reality Survival What type of emergency are you preparing for (economic collapse, terrorist attack, Electro-Magnetic Pulse, natural disaster, hyper-inflation, etc)? Nobody knows what exactly the future holds; therefore nobody knows specifically how to prepare. When selecting a weapon, the shotgun seems to prove more versatile than most of the others. This jack of all trades weapon can do all things from put food on the table (bird shot) to defend against hostiles (buck shot) and put down wild predators (slugs). I won't attempt to argue that there are better weapons for some specific applications. Many law enforcement agencies across the US have moved away from the shotgun toward AR platforms due to increased accuracy, effective range, greater ammo capacity, lighter weight and reduced recoil. That said the specific mission of a law enforcement carbine is limited to tactical applications (not so great at shooting birds). The shotgun is sufficient for combat engagements greater than 100 yards with slugs and is superior at ranges under 35 yards with Buck shot. The vast majority of tactical engagements one would expect to encounter in an emergency SHTF situation would be within those ranges (beyond that a tactical retreat should be considered if practical). Read More @ fromthetrenchesworldreport.com
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| London Trader – Bullion Banks Had To Halt Gold’s Advance Posted: 16 Oct 2012 10:15 PM PDT from KingWorldNews:
King World News will be releasing a total of three written interviews with the London Trader today. This is the second in a series of blockbuster interviews which uncovers what is happening behind the scenes in the gold and silver markets. Due to recent market action, these segments covering the gold and silver markets will be released as soon as possible. Here is what the source had to say in the second portion of the interview: "As gold was heading up to the $1,800 level recently, we were very close to a situation where we were going to see a commercial capitulation. Some of the weaker commercials were already starting to bail out of their shorts."
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| Silver demand likely to depend on Indian investors Posted: 16 Oct 2012 10:00 PM PDT At a time where strong physical demand is the only thing keeping weak silver longs from panicking, many are focused on seasonal Indian demand and the strengthening rupee. by Dr. Jeffrey Lewis, MineWeb.com
With the Indian rupee having gained 7.3 percent against the U.S. Dollar since the end of August alone, silver prices expressed in rupees will likely soften in the near term. This led at least one analyst to predict that silver's price direction in the short term could depend on Indian investors. Combined with seasonal demand, a strengthening rupee could impact physical demand for silver going forward at a time where strong physical demand is the only thing left keeping many weak silver longs from panicking.
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| Gold Seeker Closing Report: Gold and Silver Gain Almost 1% Posted: 16 Oct 2012 10:00 PM PDT Gold climbed up to $1747.20 by a little after 10AM EST before it pared its gains a bit midday, but it then rallied back higher again in the last hour of trade and ended just off its last minute high of $1747.69 with a gain of 0.65%. Silver surged to as high as $33.04 before it also fell back off at times, but it still ended with a gain of 0.8%.
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| Amtrak Loses $833.8 million In Decade, on Snacks Posted: 16 Oct 2012 09:40 PM PDT from Silver Vigilante:
Joe Biden's favorite mode of transportation – perhaps because it smells the most like austerity – has been suffering, as rail lines have been closing across the country in 2012. Amtrak's latest move will see it stop service on all routes that are 750 miles or fewer in length one year from now unless state governments pay to discontinue service. For example, the four-day-a-week service between Indianapolis and Chicago are on the chopping block. 35,000 people rode that line last year. Discontinued also would be service from San Diego to Santa Barbara.
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| Posted: 16 Oct 2012 09:31 PM PDT My Dear Extended Family, The gold market today was interesting. The gold banks supplied gold in a holding action from late morning to early afternoon EST. The level of their activity was at $1745 for 2.5 hours in cash. I am sure they took notice that all the gold related trading items, including shares, Continue reading In The News Today
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| Posted: 16 Oct 2012 09:30 PM PDT by Steve St. Angelo, Gold Seek:
In a stunning development over the first seven months of the year, the United States has run up a huge gold deficit as it has exported a record 424 metric tonnes of gold. This is indeed a significant amount when the U.S. exported a total of 488 metric tonnes for the entire year in 2011. According to the USGS July Gold Mineral Industry Survey, the U.S. only imported 188 metric tonnes of gold between Jan-Jul, but exported 424 metric tonnes leaving a huge shortfall. Some of this deficit was made up by the U.S. domestic gold mine supply. However, if we add up all the domestic gold mine supply plus the gold imports in the first seven months of 2012, the United States still ran a large 102 metric tonne gold account deficit. The U.S. produced 134 metric tonnes of gold between January & July of 2012:
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| Spain denies bailout request/Troika walks away from Greece/gold and silver rebound Posted: 16 Oct 2012 09:29 PM PDT by Harvey Organ, HarveyOrgan.Blogspot.ca:
Good evening Ladies and Gentlemen: Gold closed up by comex closing time to the tune of $8.70 to $1744.70. Silver also rebounded finishing up by 21 cents to $32.92. The big news today was the resignation of Victor Pandit of Citibank. Their earnings reported yesterday was state of the art, phoniness. The troika walked away from Greece today setting a showdown sometime in November when the cash runs out. Spain denied that it had sought a bailout request. We will go over all of these stories and others but first……………………………………. Read More @ HarveyOrgan.Blogspot.ca
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| Posted: 16 Oct 2012 06:53 PM PDT October 16, 2012 [LIST] [*]Mysterious silver traders (or a guy on a laptop in his boxers) promise big silver move and $50 by year-end [*]Weak hands: the numbers that help explain gold's recent tumble [*]A ground-floor investment locale, or close to it: Chris Mayer in "the Cuba of the East" [*]New fronts in "The War on You": Pre-written traffic tickets, getting labeled a "terrorist" for wondering why your county commissioners are blowing money on surveillance cameras [*]Young foreclosure entrepreneur on her way to reality TV... the real warning coming from Iran... real-world refi tales from owners of rental property... and more! [/LIST] Silver is starting the day at $32.84. But a mysterious group of traders billing themselves as "Wynter Benton" is promising to move it big during the next six trading days... on the way to $50 before year-end. "The Leader wishes to inform our followers that the group will be demonstrating our ability to ...
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| Mexican journalist tracks down his country's gold -- in London Posted: 16 Oct 2012 06:49 PM PDT 8:38p ET Tuesday, October 16, 2012 Dear Friend of GATA and Gold: The Mexican journalist Guillermo Barba, who last year revealed via GATA that the Bank of Mexico was refusing to disclose the location and form of the 93 tonnes of gold it supposedly had purchased recently -- http://www.gata.org/node/10487 -- announced this week that he has pried the answer out of the bank, using Mexico's freedom-of-information law just as GATA has been using U.S. FOI law. Ninety-four percent of Mexico's gold, Barba reports, is said to be vaulted at the Bank of England in London -- that is, at the center of the fractional-reserve gold banking system. So much for Mexico's sovereignty -- and so much for Mexico's gold. Barba's report is posted at his blog here: http://inteligenciafinancieraglobal.blogspot.mx/2012/10/bank-of-mexico-r... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet Company Press Release VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel. The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace. Prophecy Chairman John Lee commented: "Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly." Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs. For the complete company statement with full tabulation of the drilling results, please visit: http://prophecyplat.com/news_2012_sep11_prophecy_platinum_drill_results.... Join GATA here: New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata
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| Posted: 16 Oct 2012 06:27 PM PDT "We currently have an advanced exploration project…we have 500,000 ounces, roughly defined down to about 600 meters," says Tim Campbell, Vice President for Harte Gold Corporation (TSX: HRT | FSE: H4O) (HarteGold.com) about their Sugar Zone gold property in Ontario. In this interview, Tracy Weslosky, Publisher of ProEdgeWire (ProEdgeWire.com) asks Tim to give investors an overview of their project development timelines that are focused on moving towards processing and production by summer 2013. Tim adds that with the drilling that has taken place so far in 2012, the resource size is anticipated to be larger, between 1 million to 1.25 million ounces of gold with good mineralization down to 1,000 meters. Other key topics such as community relations, community engagement and job creation are also highlighted. A strategic location, an experienced management team and accelerated timelines are key traits that make Harte Gold a standout player in the gold sector.
October 16, 2012 (Source: Proedgewire)
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| Jonathan Kosares: Dollar index disguises global inflation threat Posted: 16 Oct 2012 06:24 PM PDT 8:20p ET Tuesday, October 16, 2012 Dear Friend of GATA and Gold: The U.S. dollar index fails to measure the currency's purchasing power but only its relative strength against other depreciating currencies, Jonathan Kosares of Centennial Precious Metals notes in commentary published today, "Dollar Index Disguises Global Inflation Threat." The dollar index, Kosares shows, is essentially unchanged over the last seven years even as basic goods have become 45 percent more expensive in that time. Kosares' commentary is posted at Centennial's Internet site, USAGold.com, here: http://www.usagold.com/publications/2012octsp.html CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. Join GATA here: New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "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 she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard
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| Gold was only $10 away from 'commercial signal failure,' London trader says Posted: 16 Oct 2012 06:12 PM PDT 8:11p ET Tuesday, October 16, 2012 Dear Friend of GATA and Gold: Bullion banks shorted gold madly last week because the rising price was within about $10 of triggering a "commercial signal failure" and making the gold market "disorderly," the King World News London trader source says in the second segment of his interview today. Presumably "disorderly market" means "free market." The second part of the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/16_L... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "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 she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard Join GATA here: New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/.
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| 96% of Mexico's Gold Reserves in London & NY Posted: 16 Oct 2012 05:27 PM PDT Letter to Hugo-Salinas Price: Forget a Silver Backed Currency, Mexico's Got to Bring its Gold Reserves Home Banxico claimed that revealing the location of its gold would "harm the financial, economic or monetary stability of the country." "At month's … Continue reading
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| Posted: 16 Oct 2012 05:12 PM PDT Gold Price Close Today : 1744.70 Change : 8.70 or 0.50% Silver Price Close Today : 32.922 Change : 0.215 or 0.66% Gold Silver Ratio Today : 52.995 Change : -0.082 or -0.16% Silver Gold Ratio Today : 0.01887 Change : 0.000029 or 0.16% Platinum Price Close Today : 1657.10 Change : 11.40 or 0.69% Palladium Price Close Today : 637.95 Change : 6.35 or 1.01% S&P 500 : 1,454.92 Change : 14.79 or 1.03% Dow In GOLD$ : $160.62 Change : $ 0.73 or 0.46% Dow in GOLD oz : 7.770 Change : 0.035 or 0.46% Dow in SILVER oz : 411.77 Change : 1.19 or 0.29% Dow Industrial : 13,556.37 Change : 127.55 or 0.95% US Dollar Index : 79.32 Change : -0.445 or -0.56% Today the GOLD PRICE rose $8.70 to $1,744.70. Silver rose also, 21.5 cents to 3292.2c, but without successfully penetrating 3300c. 'Twould be a mistake to view metals' bounce today as the bottom of this drop -- not enough time yet, not enough price. Minimum target is the 50 DMA at $1,712.64 for gold. The GOLD PRICE made a new intraday low for the move yesterday at $1,729.70. Today's low hit only $1,736.46, while the high reached $1,748.20. About $1,755 it will meet resistance as determined as the Confederate line at Fredericksburg in 1862. For now, the momentum remains gravityward. The SILVER PRICE pierced 3300c today and reached 3304c but fell back. This is neither zeal, nor enthusiasm, nor strength. More downside's a-coming. If markets won't give you a philosophical and patient turn of mind, won't anything. We simply have to wait with longsuffering while this little correction plays itself out, biding our time until we buy again. Don't let the waiting rile you. Don't y'all get tired of hogwash? I believe if I see one more news report that "the Euro crisis is solved because some German politician belched favorably toward a Spanish bailout" I am just going to turn in my keyboard and call it a career. I'm about to where I don't believe anybody in the world can count, or add, or subtract. America, Europe, Japan, China -- they're all flat busted. The borrowing-money-into- existence system, the borrowing-to-consume, the government-can- run-an-economy system is dead as a hammer, and ain't coming back. That rotten US dollar is just like a trashy girl. She keeps on lying to you, and you just can't believe anybody could lie that much and that consistently. Now she's done it again. Dollar dropped below that 79.50 I said yesterday it needed to hold. Well, I reckon I'm just like that sucker boyfriend that still wants to believe her. Last bottom was 79.10, so the dip today to 79.30 might not prove fatal to a rally. Worse, today's close at 79.319 (down 44.5 basis point or 0.57%) leaves the dollar looking up at its 20 DMA (now 79.61). Currencies today stand at US$1 = Y78.88 = E 0.7660. Think of the world as a rather large concentration camp where all the inmates are swapping rumors all the day long about the war finally being over, or an amnesty coming. That's what happening with the euro, Currency of Bums. Today it gapped up to $1.3055 (+0.84%) on rumors so flimsy a six year old wouldn't bite on 'em. All is illusion, wet cardboard waiting for some doubter to stick a finger thru it. In spite of today, the euro remains in a downtrend unless it can climb over 1.3100. Yen keeps going out of this world backwards. Tumbled another 0.23% today to 126.78c. If y'all go look at the Dow/Gold chart, it will become plain that stocks are rallying against gold, having gapped up through their 20 DMA two days ago. Target of this COUNTER-trend rally is at least the 200 DMA (7.80 oz), maybe higher before it plays out. Make this plain: stocks have more to rise, gold and silver further to fall. Wall Street was enough to warm a banker's frozen heart today. Dow rose 127.55 (0.95%) to 13,556.37. S&P500 outran it, up 14.79 (1.03%) to 1,454.92. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, 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. No, I don't. 
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| London Trader - Bullion Banks Had To Halt Gold’s Advance Posted: 16 Oct 2012 04:41 PM PDT  Today the "London Trader" discussed recent comments on KWN about the possibility of a commercial signal failure, which would have created a major price spike in gold. The source asked, "Why do you think the bullion banks threw everything they had at the gold market at the $1,800 level?" The answer, "We were within a hair of a major price explosion, and disorder in the gold market."King World News will be releasing a total of three written interviews with the London Trader today. This is the second in a series of blockbuster interviews which uncovers what is happening behind the scenes in the gold and silver markets. Due to recent market action, these segments covering the gold and silver markets will be released as soon as possible. Here is what the source had to say in the second portion of the interview: "As gold was heading up to the $1,800 level recently, we were very close to a situation where we were going to see a commercial capitulation. Some of the weaker commercials were already starting to bail out of their shorts."
This posting includes an audio/video/photo media file: Download Now |
| Gold Rebounds Following Large Range Down Day Posted: 16 Oct 2012 03:52 PM PDT courtesy of DailyFX.com October 16, 2012 01:46 PM Daily Bars Prepared by Jamie Saettele, CMT “Gold has finally done something after consolidation at the top of the multiyear range for several weeks. The sharp break has resulted in a test of the 23.6% retracement of the advance from the late 2011 low. The area is also defined by September congestion. This is a level that could produce a low although 1715 (9/13 low) is probably stronger. The drop has shifted reward/risk to bulls against the 9/7 low at 1689.” LEVELS: 1691 1715 1729 1749 1757 1780...
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| Posted: 16 Oct 2012 02:13 PM PDT Daily Bell: Hello, again. Let's jump right in.... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]] 
This posting includes an audio/video/photo media file: Download Now |
| Gold Daily and Silver Weekly Charts - Have a Cuppa - Physical Gold Market 'Fierce' - $1810 Key Level Posted: 16 Oct 2012 02:11 PM PDT |
| What Will the Price of Gold Be in January 2014? Posted: 16 Oct 2012 01:56 PM PDT While many of us at Casey Research don't like making price predictions, and certainly ones accompanied by a specific date, it's hard to ignore the correlation between the US monetary base and the gold price. Read More...
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| Gold and Silver Mining Stocks Hold Well Despite Metals' Correction Posted: 16 Oct 2012 01:34 PM PDT Despite a lukewarm, lackluster first half of the year, Gold has so far risen by 13 percent in 2012, nothing to sneeze at. The price of gold rose by about $215 in 2012, with most of the gains, $165 worth, having materialized in the last two months. Read More...
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| Gold futures score first gain in three sessions Posted: 16 Oct 2012 01:31 PM PDT 16-Oct (MarketWatch) — Gold futures closed higher Tuesday to score their first gain in three sessions, finding support as the U.S. dollar stumbled on news of potential progress for a Spain bailout. Gold for December delivery rose $8.70, or 0.5%, to settle at $1,746.30 an ounce on the Comex division of the New York Mercantile Exchange. …"The tone has been generally corrective/consolidative since September gains stalled ahead of $1,800," said Peter Grant, chief market analyst at USAGOLD, in an emailed response to questions on gold. Given yesterday's return to levels last seen in mid-September, "perhaps there is a growing acknowledgment that monetary policy is not a panacea — a sentiment reiterated by [Fed Chairman Ben] Bernanke over the weekend," he said. "The recent narrowing of the [U.S.] presidential race polls also has heightened the risk of a regime change at the Fed," Grant said. "While [Republican presidential candidate Mitt] Romney has pledged to sack Bernanke if he wins the election, I really don't imagine he would appoint a true monetary hawk as Fed chairman." "Nonetheless, the rise in uncertainty has some wondering whether there might be an eventual end to the central bank's super-accommodative policy stance," he said. [source]
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| Gold market too tight for waterfall decline, London trader tells King World News Posted: 16 Oct 2012 01:28 PM PDT 3:25p ET Tuesday, October 16, 2012 Dear Friend of GATA and Gold: Buy orders for gold -- the real stuff, not paper -- are constantly being raised under the market and a waterfall decline in the price is highly unlikely, the King World News London trader source says in an interview today. The market is tight, he says, adding: "This has become a competition for the central banks and sovereign buyers to get rid of their dollars and euros as fast as they can, and swap them for something of real value." An excerpt from the interview, the first of three excerpts planned today, is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/16_L... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata Join GATA here: New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet Company Press Release VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel. The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace. Prophecy Chairman John Lee commented: "Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly." Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs. For the complete company statement with full tabulation of the drilling results, please visit: http://prophecyplat.com/news_2012_sep11_prophecy_platinum_drill_results....
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| Two Reasons Why the Gold Market is Under Pressure Posted: 16 Oct 2012 01:20 PM PDT There are two reasons why the price of gold has been under pressure in the last few days. One of them is legitimate; while the other is completely without grounds. Read More...
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| Grandich Client Oromin Explorations Posted: 16 Oct 2012 01:17 PM PDT The following is automatically syndicated from Grandich's blog. You can view the original post here. Stay up to date on his model portfolio! October 16, 2012 10:46 AM OLE filed this with Sedar yesterday. For me, the following was of great interest: “…The financings completed in August and November 2010 provided a significant cash position to the Company through the current date. Exercises of share purchase warrants in the fourth quarter of the 2011-2012 fiscal year added $864,855 in cash proceeds. The Company's net working capital position at August 31, 2012 was $1,132,497. We believe this is sufficient working capital to finance the Company's plans for the balance of the 2012-2013 fiscal year. If a transaction involving the sale of the Company's interest in the OJVG Gold Project occurs or is agreed to within that timeframe the Company may avoid the need for further financing. The sourcing of such a transaction is currently a topic in management's efforts, and in those...
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| London Trader - Competition To Buy Physical Gold Is Fierce Posted: 16 Oct 2012 12:28 PM PDT  With many global investors still concerned about the recent price action in gold and silver, today King World News interviewed the "London Trader" to get his take on these markets. The source assured KWN that "... we are not going to see a waterfall decline in the gold market." The source also said, "... the competition to buy physical is extremely fierce right now."King World News will be releasing a total of three written interviews with the London Trader today. Due to recent market action, these interviews covering the gold and silver markets will be released as soon as possible. Here is what the source had to say: "In the past we have seen waterfall type declines when small speculators are heavily leveraged. But the market has changed. When the physical market was not as strong as it is now, these corrections would go $200 to $300 in gold. As an example, we went from a previous peak of about $1,900 down to around $1,500, or roughly $400 in that case."
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Are we on the verge of societal collapse? Many of the greatest empires throughout world history were not conquered by outside forces. Rather, they crumbled inwardly as extreme social decay set in. There have been many that have compared the last days of the Roman Empire to what America is going through right now. In the decades following World War II, the United States was the most powerful and the most prosperous nation on the entire planet, but now things are rapidly changing. There are literally thousands of signs that our society is collapsing all around us. All you have to do to see this is turn on a television or pick up a newspaper. I spend a lot of time discussing our nightmarish economic and political headaches in this column, but the truth is that our problems go much deeper than that. Even if a major miracle happened and we got the "right person" into the White House, the Federal Reserve was shut down, our 16 trillion dollar national debt was paid off, our trade deficit went to zero, a solution was found for the 
Gold and silver bounced today, but follow through is everything.
Amtrak rail service lost $84.5 million alone on its food and beverage services in 2011, and $833.8 million over 10 years. "It has never broken even on these services," wrote 
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