Gold World News Flash |
- Very COOL Gold & Silver Coins… (& Slightly More Valuable Than Fiat)!
- Central Banks’ Paper Gold vs Physical Gold: Is The Dust Settling?
- By the Numbers for the Week Ending October 26
- Gold and Silver Disaggregated COT Report (DCOT) for October 26
- Gold Seeker Weekly Wrap-Up: Gold and Silver End Slightly Lower on the Week
- CNBC MOPE: Actual Existence of Gold Reserves is Irrelevant, It's the Bookkeeping That Matters!
- US Mint Will Not Issue 2012 Platinum Eagle Bullion Coins
- Commodity index weighting change to benefit precious metals
- A Golden Opportunity
- The Gold Price Looks to have Almost Finished it's Correction I Will Likely Buy Gold Early Next Week
- Guest Post: A Golden Opportunity
- Unlimited government debt will take gold up parabolically, von Greyerz says
- Germany . . . and Now the Netherlands is FREAKING OUT about their gold reserves
- Could the U.S. Election Release the Bulls?
- Gold falls at the close, logs third-weekly decline
- Latest Buzz from PirateMyfilm.com
- Gold Mining Margins Will Expand Further
- (MUST READ) Behind Closed Doors
- Behind Closed Doors
- What "Everybody Knows"
- The Sky's the Limit in Saskatchewan: Tom MacNeill
- Draghi's Dike Defended As Market Ends Week Range-Bound
- Gold Daily And Silver Weekly Charts - Orwell's Final Warning
- Argentines send money underground to evade exchange controls
- COT Gold, Silver and US Dollar Index Report - October 25, 2012
- Germany's isn't the only missing gold, Celente tells King World News
- James Turk: German Gold Has Been Gone Since 2001
- The US Elections, Dollar, Stocks, and Gold
- Profiting from Silver Mining in the Age of Resource Nationalism: Sean Rakhimov
- LGMR: Indian Gold Demand "Surprisingly" Absent as "Bearish Trend" Remains
| Very COOL Gold & Silver Coins… (& Slightly More Valuable Than Fiat)! Posted: 27 Oct 2012 12:00 AM PDT from coinweek: More of the ever-popular "Cool Coin" series as David Lisot continues his efforts to find the most interesting coins in all of numismatics: 1916 Standing Liberty Quarter XF45, 1847 Hawaii Cent, PCGS63, 1916 Pattern Walking Liberty Half PRF64, 1932 $20 St. Gaudens MS65, 1893-CC Morgan Dollar MS-64, 1873-CC Seated Dollar, F15.
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| Central Banks’ Paper Gold vs Physical Gold: Is The Dust Settling? Posted: 26 Oct 2012 11:30 PM PDT from Gold Silver Worlds:
The "good news" from earlier this week was that Germany's Court incited the Bundesbank to bring clarity with regard to their real gold holdings by providing access to their storage sites. Furthermore, a German Court of Auditors reported that the gold had "never been verified physically" up until now. It remains to be seen if and when light will be shed on this situation, but the pressure for clear answers keeps on increasing. Read More @ GoldSilverWorlds.com
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| By the Numbers for the Week Ending October 26 Posted: 26 Oct 2012 10:50 PM PDT This week's closing table is just below.
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| Gold and Silver Disaggregated COT Report (DCOT) for October 26 Posted: 26 Oct 2012 10:46 PM PDT NEW ORLEANS -- This week's Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the changes in weekly positioning by the disaggregated trader classes, as compiled by the CFTC, is just below. In the DCOT table above a net short position shows as a negative figure in red. A net long position shows in black. In the Change column, a negative number indicates either an increase to an existing net short position or a reduction of a net long position. A black figure in the Change column indicates an increase to an existing long position or a reduction of an existing net short position. The way to think of it is that black figures in the Change column are traders getting "longer" and red figures are traders getting less long or shorter. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report. Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week's technical changes, should be completed by sometime on Monday, October 29 – almost certainly by 18:00 ET.
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| Gold Seeker Weekly Wrap-Up: Gold and Silver End Slightly Lower on the Week Posted: 26 Oct 2012 10:00 PM PDT Gold fell $12.20 to $1700.50 in Asia before it rose to as high as $1718.50 by a little after 10AM EST, but it then fell back off into the close and ended with a loss of 0.04%. Silver dropped to $31.578 in Asia before it rebounded to $32.331 in New York, but it then also fell back off into the close and ended with a loss of 0.19%.
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| CNBC MOPE: Actual Existence of Gold Reserves is Irrelevant, It's the Bookkeeping That Matters! Posted: 26 Oct 2012 08:46 PM PDT With this week's reports that Germany repatriated 1,000 tons of its gold reserves from the Bank of England between 2000-01, and is repatriating 150 tons of its gold reserves from the NY Fed over the next 3 years, clearly the … Continue reading
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| US Mint Will Not Issue 2012 Platinum Eagle Bullion Coins Posted: 26 Oct 2012 08:30 PM PDT by Michael Zielinski, CoinUpdate.com:
For the fourth consecutive year, the United States Mint will not offer American Platinum Eagles in bullion format. As such, the only 2012 Platinum Eagle produced and issued will be the proof version struck for collectors. Within his opening letter to the US Mint's 2011 Annual Report, Deputy Directory Richard A. Peterson had raised the possibility of bringing back the platinum bullion offering in 2012. He stated, "We are evaluating, in conjunction with our authorized purchaser distribution channel, the optimum way to bring back American Eagle Platinum Bullion Coins in 2012." However, it appears that the Mint has decided to forgo the offering for another year.
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| Commodity index weighting change to benefit precious metals Posted: 26 Oct 2012 08:00 PM PDT from Gold Money:
"Safe haven" trades have increased in popularity over the last 24 hours, with news of disappointing Q3 earnings from Apple and lack of agreement over the terms of the next tranche of aid to Greece spooking investors. US Treasury and German Bund yields have nudged lower as a result, while the dollar is finding buying support around 80.00 on the Dollar Index. Though reports of strong Indian gold buying on Wednesday for the Dussehra festival helped push December Comex gold up 0.7% yesterday for a close at $1,713/oz, precious metals and commodities have sold off this morning – with gold trading just above $1,700, while silver has once again fallen below $32, after a promising showing yesterday that saw the metal finding support above $32. Dan Norcini reports on an interesting development in the composition of the Dow Jones/UBS Commodities Index, which as of next year will be increasing the precious metals component of their commodity index.
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| Posted: 26 Oct 2012 07:49 PM PDT by Patrick Barron and Godfrey Bloom, Mises:
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| The Gold Price Looks to have Almost Finished it's Correction I Will Likely Buy Gold Early Next Week Posted: 26 Oct 2012 06:50 PM PDT Gold Price Close Today : 1,710.90 Gold Price Close 19-Oct : 1,722.80 Change : -11.90 or -0.7% Silver Price Close Today : 32.01 Silver Price Close 19-Oct : 32.07 Change : -0.062 or -0.2% Gold Silver Ratio Today : 53.447 Gold Silver Ratio 19-Oct : 53.715 Change : -0.27 or -0.5% Silver Gold Ratio : 0.01871 Silver Gold Ratio 19-Oct : 0.01862 Change : 0.00009 or 0.5% Dow in Gold Dollars : $ 158.37 Dow in Gold Dollars 19-Oct : $ 160.11 Change : $ (1.74) or -1.1% Dow in Gold Ounces : 7.661 Dow in Gold Ounces 19-Oct : 7.745 Change : -0.08 or -1.1% Dow in Silver Ounces : 409.46 Dow in Silver Ounces 19-Oct : 416.04 Change : -6.58 or -1.6% Dow Industrial : 13,107.21 Dow Industrial 19-Oct : 13,343.51 Change : -236.30 or -1.8% S&P 500 : 1,411.94 S&P 500 19-Oct : 1,433.19 Change : -21.25 or -1.5% US Dollar Index : 80.043 US Dollar Index 19-Oct : 79.633 Change : 0.410 or 0.5% Platinum Price Close Today : 1,544.80 Platinum Price Close 19-Oct : 1,613.00 Change : -68.20 or -4.2% Palladium Price Close Today : 595.70 Palladium Price Close 19-Oct : 623.30 Change : -27.60 or -4.4% I'm re-thinking the silver and GOLD PRICE: they may have posted their lows this week at 3118.4 cents and $1,698. Possibility is great enough to tempt me to buy a little bit here. Note that the GOLD/SILVER RATIO fell from 53.715 to 53.418. Not big, but the right direction (down when silver and gold are rising) for higher silver and gold prices. What's this meditation's other side? It's Friday, so people who were holding profitable short positions tend to close them out at the weekend. That might buoy up the market for one day alone. Also, the weekly silver and gold charts so the August breakout and peak, then a decline toward the downtrend line (which both metals broke in August). A kiss good-bye move might touch that downtrend line. Palladium and platinum argue for an end to the decline. Palladium has given up most of what it has gained since July (from $556 to $705.8 and back to $586.65 three days ago). Platinum has given up a little more than 50% of the same crazed move ($1,378.50 to $1,734.50). Today it closed $1,544.3 just below its 200 DMA (1,552.86), frequent end target of a correction. The GOLD PRICE today fell back $1.10 to $1,710.90. The SILVER PRICE frittered away 3.8 cents to 3201.1c. Thing that catches my eye is this: after the big losses of last week, this week they barely declined. At least the rate of fall is shrinking. There's a landing for silver and gold here somewhere. Besides, metals have reached the point where downside risk has shrunk to manageable size. From 3201.1, even a fall to 3050c is only 4.5% From $1,710.90 to $1,650, 4.6%. Unless Monday shows a freefall, I will buy at least some silver below 3200c or gold below $1,700. A little anyway, just in case they might have finished their decline. SILVER and GOLD are completing the correction of the August - September rally. Start nibbling at them, but give them a little time. Presidential election uncertainty still overhangs silver and gold as well as all markets, even though it won't make any difference to metals' inevitable and relentless bull market. Buy when everybody else's spine is turning to Jell-O. As I said, I have to re-think this gold and silver thing. They may have bottomed this week. Stocks took a bad beating with a stout stick. Dollar index rose .05%, but didn't jump high enough over 80 to prove a rally. Platinum and palladium lost more than 4%. Euro and Yen both faded this week. The treacherous US dollar index climbed from 79.633 to 80.043. At last, it has closed above 80, first hurdle of a dollar rally. However, today the dollar lunged to 80.27 only to be slapped back in a few hours to 79.923. Rest of the day leveled out, leaving behind a toppy formation that looks like a head and shoulders. Of course, that might also be a continuation pattern, too My surprise dollar rally suspicion would be gainsaid next week if the dollar index closes below 79.70. Really, it ought to advance above today's high, 80.27, by Tuesday. Otherwise it will just be spinning tires and wasting buying power and attention. Whether the dollar rallies or not, this week the yen and euro fainted. Euro relentlessly slid this week, stopping today at $1.2938 (US$1= E0.7729). Momentum is down: euro sank below the 20 DMA ($1.2974) and stands only a few points above the 200 DMA at 128.36. Euro turns smartly down should it break that 200 DMA. Yen has played a jerky game this week. Gapped down, looked like it had found its feet, then gapped down again to a low at 124.48 cents per 100 yen (US$1 = Y79.68). About to drop further, right? Nope, turned smack around and rose 0.82% to close today at 125.56, filling the gap and reaching for the 200 DMA at 125.97. Direction is firmly down as long as the yen remains below that 200 DMA. Right now, the Japanese Nice Government Men are winning the Race To Depreciate, the euro is running second while the dollar keeps gaining weight. Ben Bernanke won't enjoy his martini tonight. Stocks are badly confused. Today the Nasdaq, Nasdaq 100, and midget Nasdaq indices, along with the Dow industrials, all rose minutely. The broader S&P500 and Russell 2000 both dropped a wee bit. Dow had another raggedy day, spent almost all the day deeply under water, as low at 13,046, then found friends to buy about 1:30, and fluttered around unchanged, climbed a little, but closed only 3.53 (0.03%) higher at 13,107.21. S&P 500 ran about the same, but when the bell rang it was 1.02 lower (0.07%) at 1,411.94. I'm not at home in Tennessee, but I got a text from my daughter that the hard copies of At Home in Dogwood Mudhole have arrived from the printer. They'll begin shipping on Monday. I appreciate y'all's patience. You can still buy At Home in Dogwood Mudhole at http://store.the-moneychanger.com/products/at-home-in-dogwood-mudhole-vol1 in hard copy (yes, I'll still autograph it if you order by Monday, 29 October). Or you can download it instantly (once you pay for it, of course) in PDF, Kindle, or ePub format. 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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| Guest Post: A Golden Opportunity Posted: 26 Oct 2012 05:27 PM PDT Submitted by Patrick Barron via the Ludwig von Mises Institute, The euro debt crisis in Europe has presented Germany with a unique opportunity to lead the world away from monetary destruction and its consequences of economic chaos, social unrest, and unfathomable human suffering. The cause of the euro debt crisis is the misconstruction of the euro that allows all members of the European Monetary Union (EMU), currently 17 sovereign nations, to print euros and force them on all other members. Dr. Philipp Bagus of King Juan Carlos University in Madrid has diagnosed this situation as a tragedy of the commons in his aptly named book The Tragedy of the Euro. Germany is on the verge of seeing its capital base plundered from the inevitable dynamics of this tragedy of the commons. It should leave the EMU, reinstate the deutsche mark (DM), and anchor it to gold. The Structure of the European Monetary UnionThe European System of Central Banks (ESCB) consists of one central bank, the European Central Bank (ECB), and the national central banks of the EMU, all of which are still extant within their own sovereign nations. Although the ECB is prohibited by treaty from monetizing the debt of its sovereign members via outright purchases of their debt, it has interpreted this limitation on its power not to include lending euros to the national central banks taking the very same sovereign debt as collateral. Of course this is simply a backdoor method to circumvent the very limitation that was insisted on when the more responsible members such as Germany joined the European Monetary Union. Corruption of the European Central Bank into an Engine of InflationWhen the ECB was first formed around the turn of the new millennium, the bond markets assumed that it would be operated along the lines of the German central bank, the Bundesbank, which ran probably the least inflationary monetary system in the developed world. However, they also assumed that the EMU would not allow one of its members to default on its sovereign debt. Therefore, the interest rate for many members of the EMU fell to German levels. Unfortunately, many nations in the EMU did not use this lower interest rate as an opportunity to reduce their budgets; rather, many simply borrowed more. Thus was born the euro debt crisis, when it became clear to the bond market that debt repayment by many members of the EMU was questionable. Interest rates for these nations soared. Over the past few years the European Union itself has established several bailout funds, but the situation has not been resolved. In fact, things are even worse, for it now appears that even larger members of the EMU succumbed to the debt orgy and may need a bailout to avoid default. Thus we have arrived at the point predicted by Dr. Bagus in which the euro has been plundered by multiple parties and the pot is empty. The ECB and many sovereign members of the EMU want unlimited bond buying of sovereign debt by the ECB. Only Germany opposes this plan, but it is the lone voice against this new bout of monetary inflation. The Historical Context of German Antipathy to Monetary InflationIn 1923 Germany experienced one of the world's worst cases of hyperinflation and the worst ever for an industrialized nation. The reichsmark was destroyed by its own central bank, plunging the German people into misery and desperation. Now, after only a dozen years of relative monetary discipline, the euro faces the same fate as country after country demands to be bailed out of its mounting debts by unlimited printing of money by the ECB. Because Germany is part of the EMU, it must accept these newly printed euros. This threatened monetary inflation of unlimited amounts has shaken German bankers to the core. It is the nightmare scenario that they feared when, against their better judgment, the German politicians agreed to give up their beloved deutsche mark and place the economic fate of the nation in the hands of a committee of foreigners not as concerned about monetary inflation. But Germany can put a stop to this destruction and save the world while it saves itself. It can leave the EMU, reinstate the deutsche mark, and tie it to gold. A Golden Deutsche Mark Is Possible and DesirableDespite the haughty pronouncements of EU officials, there is nothing that can stop a sovereign country from leaving the EMU and adopting a different monetary system. The most likely scenario would be a one-for-one redenomination of German banks' euro-denominated accounts for deutsche marks. Thereafter, the DM would float freely in currency markets in the same way as British pounds and American dollars. The Bundesbank would be responsible for monetary policy just as it was before Germany joined the EMU. By leaving the EMU Germany would insulate itself from the consequences of the euro as a tragedy of the commons; i.e., monetary inflation by third parties would end, Germany would not experience higher prices due to the actions of third parties, and the capital-destroying transfers of wealth would end. Yet Germany should go one step further. It should anchor the DM to gold. Germany is the world's fourth-largest economy, behind only the United States, China, and Japan. Furthermore, Germany owns more of the world's gold than any other entity except the United States, more than either China or Japan and more than any other European country. A prerequisite to market acceptance of any gold money would be confidence in the integrity of the sponsoring institution. Not only is the Bundesbank known for its integrity and reverence for stable money; Germany itself has a worldwide reputation for the rule of law, advanced financial architecture, and a stable political system. For these reasons, Germany would prove to the world that a gold-backed money is not only possible but desirable. Expect a cascade of similar pronouncements once Germany's trading partners realize the importance of settling international financial transactions in the best money available — which initially at least would be a golden DM. Germany Should Seize the Moment!Of course the beneficial consequences of tying money to gold go beyond ending price inflation and capital-destroying wealth transfers. We can expect all the beneficial consequences of a return to limited government, for government could no longer fund itself through the unholy alliance with an inflationary central bank that creates fiat money in order to monetize government's profligate spending. The people would no longer be so subservient to government, pleading and begging for special interests at the expense of the rest of society, for government would be forced to go to the people for approval to increase its budget. The list of benefits goes on and on. Suffice it to say that it all begins with truly sound money, money anchored in gold. Germany can lead the way and earn the just respect of a grateful world. It is in the right place at the right moment in history. It should seize the moment!
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| Unlimited government debt will take gold up parabolically, von Greyerz says Posted: 26 Oct 2012 04:47 PM PDT 6:42p CT Friday, October 26, 2012 Dear Friend of GATA and Gold: Gold fund manager Egon von Greyerz today tells King World News that he's confident that gold will keep rising because government debt will keep rising as well -- unlimited debt going up parabolically will take gold with it. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/26_G... 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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| Germany . . . and Now the Netherlands is FREAKING OUT about their gold reserves Posted: 26 Oct 2012 04:22 PM PDT Uneasiness in the Netherlands about national gold reserve
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| Could the U.S. Election Release the Bulls? Posted: 26 Oct 2012 04:18 PM PDT Could the U.S. Election Release the Bulls? The Bear. Or the Bull. That is the question. With polls tightening, traders around the world are looking for that perfect hedge to be in the green regardless of who takes office in the coming presidential election in November. Caution is key prior to the outcome of big events such as this one. The presidential announcement will likely cause a spike in the market that could swing in either direction. So in order to hedge against risk the safest move is to wait until after the announcement to take a position and then ride the emerging wave. Your currency analyst, Justin Burkhardt Disclaimer: I have no positions in any of assets mentioned, but may initiate a (long or short) position in the EURUSD over the next 72 hours 
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| Gold falls at the close, logs third-weekly decline Posted: 26 Oct 2012 03:22 PM PDT 26-Oct (MarketWatch) — Gold futures fell at the close on Friday, to mark their third-weekly decline in row, as investors scrutinized U.S. data on GDP and consumer sentiment as well as economic indicators from Spain and South Korea. Gold rebounded from the day's lows after a modestly better-than-expected rise in third-quarter U.S. GDP print "improved risk appetite," said Peter Grant, chief market analyst at USAGOLD, but "but the negative revision to October sentiment tempered enthusiasm somewhat." … "Gold has indeed been inversely correlated to the dollar of late.," said Grant. But "one should not get married to the inverse correlation between the greenback and gold." The dollar index has passed back and forth across the 80 level many times in the years after it first approached it in 2004, he said. "The midpoint of the range that has developed is 80.20, so essentially the dollar … is unchanged" since then, and "yet gold has quadrupled in value over the same period." [source]
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| Latest Buzz from PirateMyfilm.com Posted: 26 Oct 2012 03:10 PM PDT sherbert (Owner) Follow I'm ready to start working on Air SLA – the Silver Liberation Army travels to Athens! Rebuzz Reply 0% funded – 0% Follow Air SLA $750 needed 1 follower
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| Gold Mining Margins Will Expand Further Posted: 26 Oct 2012 03:01 PM PDT Longtime readers know that we are a fan of intermarket analysis. The movement of certain markets influences other markets so it is always wise to analyze a handful of markets rather than just a single market by itself. Read More...
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| (MUST READ) Behind Closed Doors Posted: 26 Oct 2012 02:47 PM PDT FGMR - Free Gold Money Report April 23, 2001 - This past December in "The Smoking Gun" I provided substantive proof that the Exchange Stabilization Fund was intervening in the gold market. From publicly available reports prepared by the Federal Reserve, I established that the weight of gold held as a component of the US Reserve Assets has been changing, and that these changes - some of which are of significant size - result from activity by the ESF. These Federal Reserve reports conclusively demonstrate that the ESF has been intervening in the gold market since at least 1996. Though these Federal Reserve reports make clear that the ESF is involved in the gold market up to its 'earmarks', a lot of people remain skeptical. I don't know why that is. It is worth noting that many of the most obstinate skeptics who deny US government involvement in the gold market live overseas and have little, if any, experience or understanding of the way the US government really wor...
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| Posted: 26 Oct 2012 02:47 PM PDT FGMR - Free Gold Money Report April 23, 2001 - This past December in "The Smoking Gun" I provided substantive proof that the Exchange Stabilization Fund was intervening in the gold market. From publicly available reports prepared by the Federal Reserve, I established that the weight of gold held as a component of the US Reserve Assets has been changing, and that these changes - some of which are of significant size - result from activity by the ESF. These Federal Reserve reports conclusively demonstrate that the ESF has been intervening in the gold market since at least 1996. Though these Federal Reserve reports make clear that the ESF is involved in the gold market up to its 'earmarks', a lot of people remain skeptical. I don't know why that is. It is worth noting that many of the most obstinate skeptics who deny US government involvement in the gold market live overseas and have little, if any, experience or understanding of the way the US government really works. ...
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| Posted: 26 Oct 2012 02:24 PM PDT Synopsis: A pop star's financial disaster serves as a warning to us all. Dear Reader, Vedran Vuk here, filling in for David Galland. In today's issue, I'll start by discussing a risk many don't consider very deeply – the trustworthiness of our personal money managers. While most of us are peeled to the screen watching the S&P 500 and gold prices, our greatest vulnerability might be those closest to us. Then, we'll have an article from Dennis Miller of Money Forever which warns of the vultures of inflation and taxes circling above. Finally, I have an interesting graph on gold miners and their short sellers. Don't Be Like Leonard Cohen By Vedran Vuk, Senior Analyst I must apologize ahead of time for next week's issue. While it should be a good issue, it might not cover the latest financial news since I'll be making a trip to Austin, TX to see Leonard Cohen in concert on Thursday. If a financial apocalypse happens between T...
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| The Sky's the Limit in Saskatchewan: Tom MacNeill Posted: 26 Oct 2012 02:24 PM PDT The Gold Report: Tom, few if any Canadian provinces are booming the way Saskatchewan is. Québec used to be Canada's top province for mineral exploration and now some believe the recent election of the Parti Quebecois could curtail resource investment in the province. Is Saskatchewan just an election away from boom to gloom? Tom MacNeill: I seriously doubt that. Saskatchewan is fundamentally different than Québec in that Saskatchewan doesn't politicize as many things. More important, a lot of the changes happening under the current Saskatchewan administration were initiated by a left-wing government starting with the Roy Romanow and Lorne Calvert Saskatchewan New Democratic Party (NDP) administrations. We've come out of the dark ages here. We had very left-leaning governments that led us on a path to overt nationalization of certain parts of industries in the 1970s. In the 1980s, the pendulum started swinging in the other direction. A big part of the changes with leveling the royalty ...
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| Draghi's Dike Defended As Market Ends Week Range-Bound Posted: 26 Oct 2012 02:22 PM PDT As we noted this morning, today seemed more about defense than offense (even though stocks managed to rally off Draghi's Dike twice). Dow 13,000 and S&P 1400 remain safe. Today's theme is 'V-shaped-recoveries' as AMZN managed some magic last night, AAPL managed some super-magic intraday - bouncing off its 200DMA and then fading into VWAP to close on volume, and S&P futures oscillating between post-Tuesday highs and lows all day (with the ubiquitous dump to VWAP into the close after the 3pm ramp on cue).
Dow was weakest -1.7% on the week as Nasdaq managed to riggle back up today to a 0.6% loss on the week. The USD gained 0.5% on the week, perfectly matching the 0.5% loss in Gold. Silver ended the week unchanged and Oil -4.8%. Treasuries recovered their losses from yesterday to end the week mixed (5Y +1bps, 30Y -3bps) and VIX leaked back under 18% by the end of the week as realized vol has increased (and protection was lifted). Equity markets were very much on their own in the land of happy ponies and cuddly unicorns today with risk-assets in general bleeding lower into the close. Sunday is sure gonna be fun... Some significant intraday vol this week but Tuesday's big plunge (GOOG) was the major event and the rest was oscillation at Draghi's Dike lows...
leaving the S&P at the lows after 3 decent pushes lower...note we sqw volume and size-blocks come in at the highs into the close as the stop-run worked and enabled a few more out...
Credit markets were mixed - HY bonds (green) underperformed this afternoon; IG spreads (dark red) outperformed and HY spreads (red) and stocks (blue) reracked together
AAPL's round the world trip - twice - ending with a voluminous plng eback down to VWAP after selling into yesterday's VWAP... the bounce at the lows was within a pt or so of the 200DMA...
Commodities in general lost ground on the week (Silver unch) but Gold matched the USD's implied-loss of value and both PMs rallied for the last two days (admittedly with some lumpiness)...
and perhaps the most-telling charts are of equity performance relative to its capital structure (Vol/Rates/Credit ) on the left and broad-risk-assets (CONTEXT) on the right - which were both signaling far less confidence into the weekend...
Go Giants! Charts: Bloomberg and Capital Context
Bonus Chart: AAPL Longer-Term: Highest volume in 6 months and bounced off 200DMA...
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| Gold Daily And Silver Weekly Charts - Orwell's Final Warning Posted: 26 Oct 2012 02:19 PM PDT |
| Argentines send money underground to evade exchange controls Posted: 26 Oct 2012 02:02 PM PDT Coming soon to another country with rigged markets near you? * * * By Katia Porzecanski http://www.businessweek.com/news/2012-10-26/pesos-go-underground-as-doll... Argentine President Cristina Fernandez de Kirchner's foreign-exchange controls are driving pesos underground. A quarter of Argentines are keeping their pesos at home, up from 19 percent a year ago, according to a survey conducted in September by the Catholic University of Argentina and TNS Gallup. The increase reflects how people are shifting money out of banks to trade dollars in a cash-dominated black market where the cost of the U.S. currency has surged 35 percent this year, according to Buenos Aires-based research company EconViews. The migration of cash out of the financial system is stripping banks of funding and undermining Fernandez's efforts to hold down interest rates and bolster an economic rebound. The 30-day deposit rate has jumped 1.8 percentage points in the past four months to 14.8125 percent. A three-day decline of 0.8 percentage point that pared the increase in the benchmark rate will prove short-lived as annual inflation of 24 percent drives more Argentines to move money into the underground economy, said Eric Ritondale, an economist at Econviews. ... Dispatch continues below ... 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 "Money's moving out of the banking system and out of the formal economy," Ritondale said in a telephone interview from Buenos Aires. "As much as the government wants to promote the use of pesos, the truth is they won't be able to achieve it. You can't get it done" with interest rates below inflation. The so-called badlar rate, which banks pay on deposits of 1 million pesos ($210,400) or more, will climb to 17 percent by the end of this year, Ritondale said. That's more than double similar rates in Brazil and almost five times those in Mexico. The average interest rate offered among private banks for time deposits less than 100,000 pesos fell to 12.64 percent on Oct. 22 from an eight-month high of 12.85 percent on Oct. 19, central bank data show. Total peso deposits increased at the slowest pace in a year in September, central bank data show. Fernandez's controls are making it harder for Argentines to buy dollars to protect against inflation and a weaker currency. The university survey, conducted from Sept. 21 to Sept. 30, found that 11 percent of individuals said they choose to buy dollars to keep at home or put in a bank as a preferred method for savings based on convenience, down from 21 percent a year ago, after the restrictions were set in place. "Banks aren't offering attractive interest rates," Angeles Arano, one of the researchers at TNS Gallup who conducted the poll, said in a telephone interview from Buenos Aires. "There's no incentive for people to put their money in the system." Argentine bonds fell today after the country lost a bid to reverse U.S. lower-court rulings that may help creditors collect $1.4 billion on defaulted debt. Dollar-denominated notes due in 2015 dropped 4.42 cents to 85.12 cents on the dollar at 11:50 a.m. New York time, pushing yields up 2.02 percentage points to 13.55 percent, according to data compiled by Bloomberg. The U.S. Appeals Court in New York ruled that Argentina, which carried out a record sovereign default in 2001, can't discriminate against holders of the defaulted bonds in favor of holders of the securities it restructured. A three-judge panel upheld orders issued by U.S. District Judge Thomas Griesa in Manhattan. Of the 41 billion pesos pumped into the nation's monetary base this year by the central bank, 84 percent are circulating among individuals, according to the latest central bank data. That compares with 59 percent in the same period last year. In total, just 21 billion pesos are in the banking system, about 8 percent of the monetary base on Oct. 12. Cash in the hands of individuals accounted for 51 percent of private money supply, compared with 49 percent a year ago, EconViews found in an Oct. 22 study of central bank data. The country's money multiplier ratio, an indication of how much central bank-created cash is making its way through the financial system, fell to 1.495 on Oct. 5, the lowest since December 2007. Bank deposits expanded 37 percent in September from a year earlier, while lending grew 40 percent, central bank data show. Last month liquidity in the banking system dropped 0.3 percentage point from August to 35.5 percent, the lowest since December. The central bank defines liquidity as the percentage of cash, deposits in current accounts and central bank notes relative to total deposits. The badlar will resume its climb as liquidity drops and Fernandez's recent measures, including forcing insurance companies to allocate $1.5 billion in state-sponsored projects, deter investment, according to Maria Jose Anastasio, a portfolio manager at Standard Bank Argentina SA. 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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| COT Gold, Silver and US Dollar Index Report - October 25, 2012 Posted: 26 Oct 2012 01:32 PM PDT COT Gold, Silver and US Dollar Index Report - October 25, 2012
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| Germany's isn't the only missing gold, Celente tells King World News Posted: 26 Oct 2012 01:24 PM PDT 2:21p CT Friday, October 26, 2012 Dear Friend of GATA and Gold: Market analyst Gerald Celente today tells King World News that Germany's gold isn't the only gold that has disappeared -- all official gold reserves are likley gone as well, the proof being the refusal of central banks to answer questions about their reserves and permit them to be audited. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/26_C... 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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| James Turk: German Gold Has Been Gone Since 2001 Posted: 26 Oct 2012 01:17 PM PDT "There are forces in motion under the surface that indicate a paradigm shift in prices and sentiment is coming." ...
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| The US Elections, Dollar, Stocks, and Gold Posted: 26 Oct 2012 01:07 PM PDT With the US presidential election drawing near, it is beginning to look like Mitt Romney may actually have a shot at the white House. This prompts gold investors to wonder how such an outcome might affect financial markets and especially gold. Read More...
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| Profiting from Silver Mining in the Age of Resource Nationalism: Sean Rakhimov Posted: 26 Oct 2012 12:20 PM PDT The Gold Report: You have written that the pace of global resource nationalism is gaining momentum, affecting the supplies and prices of many commodities. You believe resource nationalism in all of its current forms is likely to affect silver more than other metals, particularly investable silver. Would you explain why? Sean Rakhimov: The effect of resource nationalism on the physical supply market has not been significant yet, but I do think it's going to affect future supply. Large-scale projects like the Navidad in Argentina owned by Pan American Silver Corp. (PAA:TSX; PAAS:NASDAQ), the Corani and Santa Ana projects in Peru owned by Bear Creek Mining Corp. (BCM:TSX.V) and most recently the Malku Khota project in Bolivia owned by South American Silver Corp. (SAC:TSX; SOHAF:OTCBB) are already affected. Combined, these projects represent about a billion and a half ounces that were expected to be coming on-line at this time. Yet sales are nowhere on the horizon and it's largely d...
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| LGMR: Indian Gold Demand "Surprisingly" Absent as "Bearish Trend" Remains Posted: 26 Oct 2012 12:07 PM PDT London Gold Market Report from Ben Traynor BullionVault Friday 26 October 2012, 08:00 EDT U.S. DOLLAR gold prices traded just above $1700 an ounce throughout Friday morning in London, following an overnight reversal of yesterday's rally, while European stock markets traded lower this morning following losses in Asia, ahead of the release of US GDP data later today. "The trend remains bearish so long as gold trades below $1723," says the latest note from Scotiabank technical analyst Russell Browne. "People are still looking a bit at the downside rather than the upside for the time being, waiting for it to break $1700," adds Ronald Leung, director at Lee Cheong Gold Dealers in Hong Kong. Silver prices traded just above $31.70 per ounce for most of the morning, 1.2% down on last Friday's close, while other commodities also edged lower and major government bond prices gained. "Commodities have come under renewed pressure, owing to the Asian equity markets weakening in ...
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Much has been written lately with regard to the central banks' gold holdings. One of the triggers was the news out of Germany, where the debate about Germany's real gold holdings became very hot this week. Among others, financial journalist 
The euro debt crisis in Europe has presented Germany with a unique opportunity to lead the world away from monetary destruction and its consequences of economic chaos, social unrest, and unfathomable human suffering. The cause of the euro debt crisis is the misconstruction of the euro that allows all members of the European Monetary Union (EMU), currently 17 sovereign nations, to print euros and force them on all other members. Dr. Philipp Bagus of King Juan Carlos University in Madrid has diagnosed this situation as a tragedy of the commons in his aptly named book 
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