Gold World News Flash |
- Gold Seeker Closing Report: Gold and Silver Jump Almost 2% and 3% Higher
- Gold Soars, Futures Plunge As Free Reign For Bernanke Appears Assured
- Report Raises Questions About Central Bank Gold Holdings
- Commodity Technical Analysis: Gold Surges into Fibonacci Resistance
- The Long Gold Price Correction has Ended Time to Jump into Gold and Silver
- 'The big move' in gold is under way, von Greyerz tells King World News
- Four Elections And A Market Myth Funeral
- Weekend Report... The Buck Stops Here
- Greyerz - The Gold Train Is Picking Up A Head Of Steam
- Electile Dysfunction - Market Just Couldn't Keep It Up
- Vote Tuesday: Buy an Ounce of Silver!
- Chris Berry: Who's Ahead in the Graphite Race?
- The Bullish Case for Silver and Even More Bullish Case for Silver Stocks
- Black Hole Friday?
- 'Skynet' has taken over the markets, Norcini tells King World News
- Election 2012: How The Winner Will Destroy America
- Are Republicans or Democrats Better for Gold & Silver Performance?
- IT DOESN'T MATTER
- New Got Gold Report explains reluctance to go longer
- Porter, Show Me the Money!
- Massive Short Covering & Buy Stops Triggered In Gold & Silver
- New Video Got Gold Report Courtesy Release
- Do JPMorgan Chase and Scotiabank/Scotia Mocatta Operate the Silver Price Fixing Scheme as a Team?
- Silver Demand - Money Versus Commodity
- The Great Precious Metals Managed Retreat
- Corrections In Gold And Silver Could Provide Buying Opportunity Before Election
- LGMR: US Monetary Policy "Unlikely to Change" Whoever Wins Election, Fiscal Cliff "Could Propel Gold Higher"
- Advance Auction Day
- Gold surges
- Gold Investor Sentiment Higher for 3rd Month in a Row
| Gold Seeker Closing Report: Gold and Silver Jump Almost 2% and 3% Higher Posted: 06 Nov 2012 10:00 PM PST Gold traded modestly higher throughout most of trade in Asia and London, but it then accelerated its gains in late morning New York trade and ended near its early afternoon high of $1720.74 with a gain of 1.91%. Silver surged to as high as $32.25 and ended with a gain of 2.76%.
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| Gold Soars, Futures Plunge As Free Reign For Bernanke Appears Assured Posted: 06 Nov 2012 08:27 PM PST from Zero Hedge:
S&P 500 are plunging… (moar Bernanke trumped by moar Fiscal Cliff reality!!)
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| Report Raises Questions About Central Bank Gold Holdings Posted: 06 Nov 2012 07:43 PM PST By: John Browne Tuesday, November 6, 2012 For years I have cautioned that changes in the ownership of gold held in the vaults of key central banks around the globe may not have been accurately reported. A report issued last month in Germany has once again brought these issues to the fore. In today's environment of rampant money creation and questioning of central bank activities, such uncertainty is bound to spark the curiosity of an increasing number of investors. Since the depths of the 2008 financial crisis, central banks around the world have increased their gold holdings. As of January of this year, the International Monetary Fund estimated that official reserves had hit a six year high. Most of this growth has come from emerging and developing nations who are estimated to have swollen their gold reserves 25% by weight since 2008. Just a few years ago, India purchased 200 tonnes on ...
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| Commodity Technical Analysis: Gold Surges into Fibonacci Resistance Posted: 06 Nov 2012 06:43 PM PST courtesy of DailyFX.com November 06, 2012 05:40 PM Daily Bars Chart Prepared by Jamie Saettele, CMT Commodity Observations: Gold retraced all of Friday’s losses but reversed at the 38.2% retracement of the decline from the top. The sharp advance following a sharp decline does suggest that weakness was exhaustive and that a base is forming from which price can work higher. Commodity Trading Strategy Implications: Expect several days of sideways trade to correct today’s rally. LEVELS: 1685 1691 1702 1727 1749 1775...
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| The Long Gold Price Correction has Ended Time to Jump into Gold and Silver Posted: 06 Nov 2012 05:04 PM PST Gold Price Close Today : 1714.10 Change : 31.90 or 1.90% Silver Price Close Today : 32.019 Change : 0.906 or 2.91% Gold Silver Ratio Today : 53.534 Change : -0.534 or -0.99% Silver Gold Ratio Today : 0.01868 Change : 0.000184 or 1.00% Platinum Price Close Today : 1554.30 Change : 15.60 or 1.01% Palladium Price Close Today : 619.35 Change : 17.15 or 2.85% S&P 500 : 1,428.39 Change : 11.13 or 0.79% Dow In GOLD$ : $159.74 Change : $ (1.38) or -0.85% Dow in GOLD oz : 7.727 Change : -0.067 or -0.85% Dow in SILVER oz : 413.68 Change : -7.76 or -1.84% Dow Industrial : 13,245.68 Change : 133.24 or 1.02% US Dollar Index : 80.60 Change : -0.110 or -0.14% What's happened in the silver and GOLD PRICE the last two days looks an awful lot like a key reversal. The GOLD PRICE rose $31.90 to close $1,714.10 while silver leapt 90.6 cents to 3201.9c. A Key Reversal takes place when a market breaks to a new low for the move, like gold's $1,672.40 yesterday and then closes higher than the day before, like gold's close yesterday at $1,682.20. But the needful other half of the Key Reversal is a higher close the next day, like gold's $1,714.10 close today, up $31.90. In fact, the same thing happened yesterday for the SILVER PRICE as well, with a new low at 3064c and a higher-than-the-day-before close at 3111.3. Today silver wreaked vengeance on the shots by gobbling up 90.6 cents and closing higher at 3201.9c. Let's clinch this down. Gold hit $1,720.33 today and was stopped only by the Kryptonite rays from $1,725 resistance. Once it jumps that lateral resistance at $1,725, coincidentally also the 20 DMA's location at $1,724.65, 'twill run like a scalded dog. Shucks, it don't stop there. The MACD and the RSI have both turned up, too, and both silver and gold have broken through, pierced, shattered, and penetrated the downtrend line from the early October highs. And platinum and palladium have both turned up. And the GOLD/SILVER RATIO made its high for the move yesterday and dropped today. Folks, it don't get no better than this. Of course, the risk you're wrong hovers even over the surest thing and closest reasoning, but still, it don't get no better than this. Buy silver and gold tomorrow, and never mind the price. The ONLY contradiction to that would be if gold opened tomorrow below $1,695 -- the ONLY contradiction. Here's a little guessing game: Which asset has managed the highest total return since Obama's first election in November 2008? Nope, not stocks, not the dollar, not oil, not even gold, but SILVER, with a 200+% return. Gold came in second a little over 110%. The long correction has ended. Time to jump back into silver and gold. Don't y'all make me have to tell you twice, as my Grandmamma might say. Today and yesterday takes place the Election Lottery where people take highly speculative positions anticipating some change arising from the election. For instance, lots of folks are buying stocks, probably anticipating a Romney election which they think will boost stocks. Or they're buying gold anticipating four more years of Obummer. Either way, it's just a bet. The genuine trend will avenge itself come Wednesday. US Dollar Index fell a squeentch today, 11 basis points (0.14%) to 80.602. Now of all people I would not be suspicious, yea, paranoid enough to suggest that the head of the Federal Reserve, the Bernancubus, would jimmy with international and dollar exchange rates in the run up to an election, any more than I would ever suspect that said Fed-head would announce QE3 to boost somebody's presidential campaign, or that Federal Government bean counters would announce wildly improved employment stats just to further the incumbent's campaign. Nope, not me -- I'd never do that. [The figure of speech is called "praeteritio" or "apophasis," and means to mention by not mentioning. Handy one, that!] Anyhow, the US dollar index aimeth yet up, and will aim up, as long as it stays above 80.25, whoever gets elected. Euro filled yesterday's gap and hit its crucial 62 day moving average. Gained 0.14% to $1.2816. I'd as soon own euros as have a root canal done by a diesel mechanic, without anesthesia. Japanese yen doesn't look much better. It lost 0.14% today to 124.45 cents per 100 yen, not enough to change anything at all on the chart. Remains below its 200 DMA, which resembles drawing to an inside straight at 5 card stud. Y'all recall that 138.61 points the Dow gained on 1 November and that 139.46 points it lost on 2 November? Well, today it gained 133.24 points, remaining stuck behind the barrier at 13,250. Dow ended at 13,245.68, up 1.02% while the S&P tagged along, adding 11.13 (0.79%) to 1,428.39. This action is sorry as gully dirt. Both the S&P500 and the Dow remain below the neckline of the Head and Shoulders formed from January to May of this year. Both broke down through the neckline thereof, both made June lows, both formed bearish rising wedges to slightly higher highs for the year. Back away from that chart a second. Both have formed Broadening Top formations and are hovering a bit above their 200 DMAs. Both now rest right on that old neckline. I reckon if the Nice Government Men pour buying into the market that might raise it, but nothing in the chart suggests stocks will rise under any other power. On 6 November 1861 was elected the first president of the Confederate States of America, Jefferson Davis. For those of you who want to know more about my daughter-in-law, Shawn Sanders, you can read this article from the Vail Daily about her work founding and running Little Chefs of Vail. Love just overflows out of some people, and must find a stream to run in. bitly.com/SzBh30 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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| 'The big move' in gold is under way, von Greyerz tells King World News Posted: 06 Nov 2012 03:52 PM PST 5:52p ET Tuesday, November 6, 2012 Dear Friend of GATA and Gold: Gold fund manager Egon von Greyerz today tells King World News that buyers of gold have not been discouraged by the recent paper-market games in advance of the U.S. presidential election and that today's sharp and sudden rise is the beginning of "the big move." An excerpt from the interview with von Greyerz is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/6_Gr... Of course we've all heard encouragement like this before, but maybe it is given credence by today's commentary by Kitco's senior metals analyst, Jon Nadler, whose position long has been that everyone should own some gold but should have bought it long ago and that, for many years now, gold has been suitable only for selling, even as its price over the last 13 years has risen from $260 to more than $1,700. Nadler's latest exhortation to sell gold was posted at Kitco at 9:50 a.m. ET: http://www.kitco.com/ind/Nadler/20121106.html That posting seems to have marked precisely gold's low for the day and the moment of its explosion: http://quotes.ino.com/chart/index.html?s=FOREX_XAUUSDO&t=&=&w=&v=s Even the great gold disparagers Dennis Gartman of The Gartman Letter and Jeff Christian of CPM Group can't do better than that. 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: Vancouver Resource 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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| Four Elections And A Market Myth Funeral Posted: 06 Nov 2012 03:28 PM PST Once upon a time there was a myth that the equity market can only go up, year after year, with the average annual return according to such esteemed counting institutions as Ibbotson, at 10% or more. Then, we got the November 7, 2000 presidential election, which took place when the S&P was 1432. Fast forward to today, skipping the second and third elections in the interim, and going straight to today's fourth presidential election. The closing S&P today? 1428. We have now had four presidential elections... and a funeral - that of the "stock market always rises" myth. But wait, it gets worse. The numbers above are nominal. When adjusting for the real purchasing power lost in the past 12 years, whose best indicator in a regime in which CPI data is constantly fudged and manipulated, is the price of gold, one can see that 3 presidential elections later, the S&P 500, when priced in gold terms, is now 83% lower. In other words, how is that wealth effect working out for you? And where will the stock market be in another 3 presidential elections in either nominal or real terms? One can only hope that Japan is not prologue...
Since 11/7/2000, the first election of Bush, the S&P 500 is down 0.25%. The USD has lost a remarkable 30% of its purchasing power relative to the world's major currencies (36% Trade-weighted). But it gets better because energy costs (WTI) have risen 65% since then. The Long Bond has gained a remarkable 50% while the clear winners in a Greenspan/Bernanke era has been precious metals - up around 550% since November 2000. Still - could be worse - could be European stocks which are down 50% since the November 2000 election... Chart: Bloomberg
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| Weekend Report... The Buck Stops Here Posted: 06 Nov 2012 02:37 PM PST In this weekend report I want to take a good hard look at the US Dollar as it's so critical to so many different areas of the markets. Generally speaking, if the dollar is rising then gold and the precious metals stocks are falling. Read More...
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| Greyerz - The Gold Train Is Picking Up A Head Of Steam Posted: 06 Nov 2012 02:34 PM PST  With gold, silver, and the entire commodity complex on fire today, Egon von Greyerz told King World News, "... the physical buyers are continuing their aggressive purchases." Here is what Greyerz had this to say: "Eric, this is just the action that I've been predicting for a while. I expected the pressure to last until the election. It's clear that November will be a strong month. This is the start of the big move. This is the start of the move that will last until at least next summer before a major correction."
This posting includes an audio/video/photo media file: Download Now | |
| Electile Dysfunction - Market Just Couldn't Keep It Up Posted: 06 Nov 2012 02:17 PM PST The early day surge in stocks and commodities (and sell-off in bonds) managed to get S&P 500 futures up to their 50DMA and the pre-NFP levels (which coincides with Bernanke's Bottom). Volume surged on the way up there and once hit we faded all the way back to VWAP (surprise!) retracing the knee-jerk spike as no news was discounted back out (and equities reverted to where risk-assets in general had been waiting). Commodities followed a similar path up but held on to their gains - especially Gold. Somewhat worryingly (given their dominance in fund holdings) for the market, GOOG and AAPL were both red. Today seemed much more about algos and technicals than about election bets - especially given the somewhat anti-consensus moves early on - and on the basis of that, the fade into the close suggests risk-reduction was the game plan for the big boys, even though we end the day in the green in the major indices. The USD is practically unchanged on the week with stocks and commodities up and TSYs down.
S&P 500 futures knee-jerk ramp followed by leak back to VWAP perfectly
Leaving stocks bouncing down from Bernanke's Bottom once again...
and Financials unchanged since QE3 and Healthcare the only sector in the green...
and early equity exuberance faded bacdk to reality across the rates. volatility, and credit markets...
Bonds and Stocks recoupled from yesterday's divergence but Gold outperformed...
Commodities spiked higher as Europe closed and held those gains...
Treasuries are set to rally if seasonals are anything to by - and the rally is even more impressive in election years (blue) relative to all years (green)...
but as Citi note - the difference between a Democratic victory and Republican victory is notable...
And equity market complacency in the short-term is remarkably high in options land - and we note that VIX options term structure is its flattest in over 15 months - as the front of the curve rises (not back-end dropping) dominated by short-term hedging around the election (VIX near is 19.24%, VIX far is 17.42% - i.e. Inverted)...
It may seem odd to claim today was not a risk-on day - as we are being taught by the mainstream media - but ion the basis of the no volume ramp and higher volume leak back, the technical levels of the peak, the weakness in critical leaders (GOOG and AAPL), and strength in Gold (safety) suggests this was not about any size looking to add - in fact we would argue the spike was much more useful for those looking to exit on size. As Maria B might say 'off the highs'... Charts: Bloomberg and Capital Context
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| Vote Tuesday: Buy an Ounce of Silver! Posted: 06 Nov 2012 02:10 PM PST Everyone is asking: "Are you going to throw your vote away?" The Silver Liberation Army isn't! That's why we are buying silver on this election Tuesday. Remember, remember, the sixth of November, so you buy your silver.
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| Chris Berry: Who's Ahead in the Graphite Race? Posted: 06 Nov 2012 01:53 PM PST The Critical Metals Report: Chris, you have been watching the graphite space for a long time. Prices shot up at the end of 2011 to as much as $2,700/tonne, but have come down since. What is behind this volatility and where could prices go from here? Chris Berry: We need to remember that graphite is an industrial mineral. As such, it is subject to the vagaries of global growth. We've seen a softening of GDP growth in many countries throughout the world, notably in China. This, more than anything, has pushed graphite prices down. While graphite prices are high by some historical measures, the recent decrease is a welcome sign and adds validity to our long-term super cycle thesis supporting higher commodity prices—though not indefinitely higher and not in a linear fashion. I am reading a book called "The $10 Trillion Dollar Prize" that attempts to predict the size of the consumer market in China and India by 2020. The book states that a Chinese citizen born in 2009 will consume 38 ti...
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| The Bullish Case for Silver and Even More Bullish Case for Silver Stocks Posted: 06 Nov 2012 01:45 PM PST We summarized our previous commentary on gold and the US Presidential Elections by stating that based on Friday's decline, it seems that the bottom in the precious metals sector might have just been reached. Read More...
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| Posted: 06 Nov 2012 01:00 PM PST Guess the question is obvious: What the @#$% happened to Gold Friday? Read More...
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| 'Skynet' has taken over the markets, Norcini tells King World News Posted: 06 Nov 2012 12:54 PM PST 2:55p ET Tuesday, November 6, 2012 Dear Friend of GATA and Gold: Interviewed by King World News, futures market analyst Dan Norcini surveys today's surprising pop in gold and silver and says there has been massive short covering and hedge funds have charged back in, scooping up contracts they had just sold. Referring to the evil machines that battled humanity in the "Terminator" movies, Norcini adds, "This is 'Skynet' out of control. ... The markets are broken. The computers are in control." An excerpt from Norcini's interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/6_Ma... 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: Vancouver Resource 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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| Election 2012: How The Winner Will Destroy America Posted: 06 Nov 2012 12:23 PM PST Authored by Brandon Smith of Alt-Market.com,
Of all the hollow and uninspired elections that this country has suffered through over the past several decades, one might think that at some point long ago the American public would have finally struck a plateau of disenfranchisement; that we could sink no further into despondency, that there is a saturation limit to the corruption of our voting process. Unfortunately, there has been no such luck. I have to say that in all honesty I have never seen more people gut jumbled and disgusted with our electoral system than I have in 2012. Sure, there is still a hyper-gullible segment of the populous that continues to play the game, but even those idiots are beginning to admit that the choices offered are dismal at best, catastrophic at worst. The fog of the false Left/Right paradigm is starting to lift, and all that lay in its wake is a hoard of lost wide-eyed flabbergasted followers without a coattail or a talking point to cling to. Sudanese refugees have a better chance of survival than these people do… Even in the more obvious of fraudulent past elections there was at least an attempt by the establishment to present a pageant of conflicting ideologies (George W. Bush vs. John Kerry comes to mind). There has always been the Democrat who pretends to be anti-war, or the Republican who pretends to be small government, or the Democrat who pretends to defend our right to privacy, and the Republican who pretends to be pro-2nd Amendment. But in 2012, even the theater of rhetoric has disappeared. Both primary party candidates seem to be sharing the same intestinal tract and the same teleprompter, and now, the average American is asking a new set of questions. They do not wonder how these men will change things for the better. Not at all. Instead, they wonder which one will do LESS DAMAGE while in office. This is the terrible reality we have come to understand in our society today. It is a sad awakening, but a necessary one. As you read this now, the new President of the United States is being "chosen" or has been chosen. Whoever the "winner" happens to be is ultimately irrelevant. They do not count. They are mascots. Middle management cronies running through the motions to distract the masses while enacting the policies of their superiors. They are fry cooks serving greasy overpriced democracy with no real sustenance. What does matter, though, is what comes next. I'm sorry to say that the idea that one man will do less damage than the other is a naïve sentiment. Democrat? Republican? Obama? Romney? The crimes and calamities wrought will be exactly the same. Take a look into my crystal ball and see the future. Here is how the winner will destroy America…
In 2012, it will not be about voting. It will not be about "winning". It will not even be about getting to the next election. It will be about survival. As big a joke as the 2012 elections have become even to the generally unaware, I am not laughing. I do not need to look at the promises of either candidate. I do not need to weigh their half-assed quick fix policies. All I have to do is look at the current downward trend and understand that the president, whoever he may be, will continue it. If anything is to truly change, it will be because we as Americans finally walk away from the game, enacting our own solutions and our own opposition instead of handing over our power to sniveling errand boys wrapped in flags and expensive suits and self-rightousness every four years. 2012 is going to be the beginning of upheaval and renewal, for better or for worse, and it is certain that the guy in the White House into 2013, Republican or Democrat, is going to be a part of the problem, nothing more…
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| Are Republicans or Democrats Better for Gold & Silver Performance? Posted: 06 Nov 2012 12:21 PM PST SmartKnowledgeU
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| Posted: 06 Nov 2012 12:09 PM PST It's just rearranging the deck chairs on the Titianic. Election 2012: How The Winner Will Destroy America
After all the hollow and uninspired elections that this country has suffered through over the past several decades, one might think that at some point long ago the American public would have finally struck a plateau of disenfranchisement; that we could sink no further into despondency, that there is a saturation limit to the corruption of our voting process. Unfortunately, there has been no such luck. I have to say that in all honesty I have never seen more people gut jumbled and disgusted with our electoral system than I have in 2012. Sure, there is still a hyper-gullible segment of the populous that continues to play the game, but even those idiots are beginning to admit that the choices offered are dismal at best, catastrophic at worst. The fog of the false Left/Right paradigm is starting to lift, and all that lay in its wake is a hoard of lost wide-eyed flabbergasted followers without a coattail or a talking point to cling to. Sudanese refugees have a better chance of survival than these people do… Even in the more obvious of fraudulent past elections there was at least an attempt by the establishment to present a pageant of conflicting ideologies (George W. Bush vs. John Kerry comes to mind). There has always been the Democrat who pretends to be anti-war, or the Republican who pretends to be small government, or the Democrat who pretends to defend our right to privacy, and the Republican who pretends to be pro-2nd Amendment. But in 2012, even the theater of rhetoric has disappeared. Both primary party candidates seem to be sharing the same intestinal tract and the same teleprompter, and now, the average American is asking a new set of questions. They do not wonder how these men will change things for the better. Not at all. Instead, they wonder which one will do LESS DAMAGE while in office. This is the terrible reality we have come to understand in our society today. It is a sad awakening, but a necessary one. As you read this now, the new President of the United States is being "chosen" or has been chosen. Whoever the "winner" happens to be is ultimately irrelevant. They do not count. They are mascots. Middle management cronies running through the motions to distract the masses while enacting the policies of their superiors. They are fry cooks serving greasy overpriced democracy with no real sustenance. What does matter, though, is what comes next. I'm sorry to say that the idea that one man will do less damage than the other is a naïve sentiment. Democrat? Republican? Obama? Romney? The crimes and calamities wrought will be exactly the same. Take a look into my crystal ball and see the future. Here is how the winner will destroy America… 1) He Will Continue The Policy Of Dollar Devaluation Neither candidate has expressed any interest through the election or even before it to protect the value of our currency, and both candidates have supported steps towards quantitative easing and fiat printing in order to delay an inevitable national debt crisis. Both Romney and Obama have sung the praises of Ben Bernanke (Romney changed his tune just in time for his campaign, but who's buying that?) and the private Federal Reserve despite the consistent failures of that despotic institution to produce any tangible economic results with their Keynesian methods. The dollar will see a vast devaluation during the term of this candidate and a loss of world reserve status, leading to stagflation (a combination of the worst elements of deflationary and inflationary crises in the same event). Skyrocketing prices and crumbling unemployment will be the highlights of his presidency, because he will never take measures to reign in or dismantle the primary root cause of the problem; the Federal Reserve itself. Neither candidate has offered a practical or operable solution to the $16 trillion official national debt problem we now face, let alone the tens of trillions of dollars in entitlement obligations that the Treasury Department never talks about. A nation can only live off food stamps and credit for so long before it implodes like a wet paper sack. And this is exactly what we have become; an entire culture of debt addicts and money hounds searching for our next fix of foreign or central bank cash. The fact is, both Obama and Romney would INCREASE spending while using fiat injections to buttress an ever weakening economy in the name of "stability". The new president will claim that if spending cuts are initiated, it will send the U.S. financial system into a tailspin and a "return" to recession conditions. This will of course be a lie. We have not left recession/depression conditions since 2008. There is no such thing as a mainstream "anti-war candidate" in 2012. Not even a fake one. Obama's measures of state violence and complete lack of respect for the sovereign internal matters of foreign nations surpass the madness of George Bush Jr. He has even gone so far as to assert that his office has the right to assassinate American citizens without trial, evidence, or due process of the law. Not only has he asserted the right to this power, he has used it! Romney's position, hilariously, is that Obama has not gone far enough! Either way, the winner in 2012 is going to leap like a vile locust into new countries and unleash a plague of laser guided death. The next president WILL be a war hungry president. 4) He Will Lock Down The Web And Limit Internet Speech Both Romney and Obama have expressed a desire to establish cybersecurity measures which include vast new governmental authority over the functions and operations of the internet. The ultimate goal? To gain legal precedence for the right to dictate web content, up to and including the ability to label any website a subversive threat to national security or a recruitment tool for "extremists". With the establishment spreading completely baseless accusation of cyberthreats coming from every corner of the globe (but mostly from Iran) it would seem that they are conditioning the public for a future encounter with a cyber event, and telling them who to blame when it occurs. The problem is, the most prominent cyber security threats to the internet in the past few years have come not from the Middle East, or Russia, or China, but the U.S. and Israel (Stuxnet anyone?). Keep this in mind when our new president blames the next cyber attack on a convenient political target and then uses the event as an excuse to regulate the web. 5) He Will Erase American Civil Liberties This president will find a reason, or he will create a reason to diminish Constitutional protections including our right to trial and due process. Both candidates have offered unflinching support for the National Defense Authorization Act and its provisions for indefinite detainment. Neither man has ventured any sincere concerns over the broad nature of the language involved in the labeling of "terrorists" and "extremists". Literally anyone can now be categorized as an enemy combatant and a threat to national security for almost any reason, and this appears to be the way Obama and Romney like it. That is to say, they both want totalitarian powers, or at the very least, they have made no effort to turn them down. It is important to note that there has never been a government in history that sought out such powers and did not actually use them. Only a fool would assume his favorite elitist candidate in 2012 will not utilize the extreme authorities now amassed for the executive branch over the past decade. 6) He Will Embrace A Globalist Dynamic And Abandon American Sovereignty Both Barack Obama and Mitt Romney are surrounded by "advisers" who are also members of the Council On Foreign Relations, an institution which openly calls for the dissolution of American sovereignty on a regular basis and the creation of a centralized global system dominating the financial, social, and political life of every nation in the world. With the economic stability of the U.S. on the verge of oblivion, it is very likely that a historic crisis will ensue during the first term of the next president, and that he will in response suggest a new global system as the solution. This system has already been created, in part, by the IMF and World Bank in concert with member governments and revolves around the issuance of a new world reserve currency (Special Drawing Rights) as the centerpiece. I can guarantee with absolute certainty that the next president, regardless of who he happens to be, will promote an IMF rescue package coupling the dollar to the SDR and turning over full economic control of America to an international body. He will make it sound rational, reasonable, and even advantageous, but in the end, he will be selling the globalist snakeoil he was conscripted to sell before his election campaign ever started. In 2012, it will not be about voting. It will not be about "winning". It will not even be about getting to the next election. It will be about survival. As big a joke as the 2012 elections have become even to the generally unaware, I am not laughing. I do not need to look at the promises of either candidate. I do not need to weigh their half-assed quick fix policies. All I have to do is look at the current downward trend and understand that the president, whoever he may be, will continue it. If anything is to truly change, it will be because we as Americans finally walk away from the game, enacting our own solutions and our own opposition instead of handing over our power to sniveling errand boys wrapped in flags and expensive suits and self-rightousness every four years. 2012 is going to be the beginning of upheaval and renewal, for better or for worse, and it is certain that the guy in the White House into 2013, Republican or Democrat, is going to be a part of the problem, nothing more… You can contact Brandon Smith at: brandon@alt-market.com Alt-Market is an organization designed to help you find like-minded activists and preppers in your local area so that you can network and construct communities for mutual aid and defense. Join Alt-Market.com today and learn what it means to step away from the system and build something better. To contribute to the growth of the Safe Haven Project, and to help us help others in relocating, or to support the creation of barter networks across the country, visit our donate page here.
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| New Got Gold Report explains reluctance to go longer Posted: 06 Nov 2012 12:00 PM PST 2p ET Tuesday, November 6, 2012 Dear Friend of GATA and Gold: Gene Arensberg's new Got Gold Report has been published in the clear today and explains why he has been reluctant, based on the futures positions of the largest traders, to go longer, though maybe today's action will change the outlook. Arensberg also reviews some of his favorite junior miners. The GGR is posted in the clear here: http://www.gotgoldreport.com/2012/11/new-video-got-gold-report-courtesy-... 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: Vancouver Resource 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: 06 Nov 2012 11:51 AM PST Synopsis: Porter Stansberry is running out of time to save 100 ounces of silver. By Marin Katusa, Chief Energy Investment Strategist After a very busy October on the road (seven countries in 25 days), it feels great to be back in the heart of the junior resource sector at my desk in downtown Vancouver. As I look at my calendar, I'm reminded that it's now six months into the friendly bet I have with my friend Porter Stansberry regarding the spot price of oil on May 1, 2013. The wager: 100 ounces of silver to the winner. Porter is smart, successful, and a fun guy to be around. If you ever have the chance to see him speak at a conference, I would strongly recommend you do, as not only will you be entertained but also enlightened by Porter's perspective. Doug Casey and I are always intrigued by what he has to say and have nothing but the utmost respect for him. That being said: Porter may be smart – but I'm smarter. The quick...
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| Massive Short Covering & Buy Stops Triggered In Gold & Silver Posted: 06 Nov 2012 11:49 AM PST  On the heels of some wild trading in many key global markets, today acclaimed trader Dan Norcini told King World News, "Once gold took out $1,700, they set off the buy stops and generated more algorithm buying. All of the hedge funds that were selling gold and silver on Friday are now buying those contracts back."
This posting includes an audio/video/photo media file: Download Now | |
| New Video Got Gold Report Courtesy Release Posted: 06 Nov 2012 11:39 AM PST HOUSTON -- On Sunday, November 4, we shared a new video Got Gold Report update with our valued paying Subscribers in the GGR Video section of the Subscriber Pages. Today, after a short delay and as a courtesy to our entire readership, we have added that video update – in its entirety – to our YouTube hub for the general public. We hope you find it worthy of your time. More… This report takes a look at one of our most important indicators, the rate of change in the positioning of the largest, best funded and presumably the best informed large traders of gold futures – the Large Commercial Hedgers in New York. It explains one reason why we have been reluctant to reenter our gold and silver trades since being profitably stopped out on October 15 and one of the important signals we look for to support our taking a new long position. We also take a look at several of our Subscriber Charts for gold, silver and mining shares. We end the video with a look at two of the fully fledged Vulture Bargain issues we believe are exceptionally cheap, with compelling reasons for near term price improvement. Timberline Resources (NYSE Mkt: TLR) and Channel Resources (TSX: CHU.V or CHJRF).
We rely pretty heavily on the changes in positioning of the natural hedgers who use the COMEX and futures to limit their price risk. Their positioning sends us signals. Importantly, it is not just the high or low level of their positioning that we take into account. For just one of many examples, very large weekly changes all out of proportion to the movement in the price of precious metals can be a reliable short term "tell." Sizable changes in the opposite direction from "normal" are another potential semaphore we should not ignore. The signal we focus on in this video is the pace of reduction in hedges by the Big Hedgers as gold and silver correct in price. Typically during metals pullbacks a fast pace of net hedge reduction is a bullish influence to our deliberations and vice versa. Here at Got Gold Report we also enjoy gaming the smallest, most volatile junior miners and explorers with a small portion of our overall trading line – for fun and, hopefully, for profit. The past two years have been brutal for the prices of most juniors, removing an enormous amount of the inherent price risk. But our view is that the market for juniors has recently bottomed, with a new cyclical bull market just now beginning. Thus, we believe an unusually robust opportunity currently exists for some of the companies we refer to euphemistically as The Little Guys. Below are two charts of the small junior mining and exploration companies we mention in this report. Note that the trading is compared to popular indexes which track small mining shares.
There are currently artisanal miners working the Tanwaka prospect, so we can reasonably assume that there is considerably more gold to be found by this undervalued explorer. Due diligence a must on both. Link to view the GGR Video on YouTube Disclosure: Members of the GGR team hold long positions in the companies mentioned.
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| Do JPMorgan Chase and Scotiabank/Scotia Mocatta Operate the Silver Price Fixing Scheme as a Team? Posted: 06 Nov 2012 11:27 AM PST "We are much closer to a bottom than a top...but I'm always on the lookout for "in your ear"." [COLOR=#7f4028] Yesterday in Gold and Silver It was a reasonably quiet trading day in gold on Monday...but there was some structure to the trading action. After gaining about five bucks or so in early Far East trading on Monday, gold then tracked sideways right up until shortly after 3:00 p.m. in Hong Kong. Then gold dipped to its low of the day, which occurred a bit over an hour later at around 8:30 a.m. GMT in London. From that low, gold climbed slowly higher, reaching its high tick about ten minutes after the 1:30 p.m. Comex close in New York...and from there it traded more or less sideways into the 5:15 p.m. Eastern time electronic close. The gold price closed at $1,685.00 spot...up $8.10 from Friday's close. Net volume was pretty light at around 109,000 contracts. Monday's silver chart was a virtually carbon copy of Monday's gold chart, with the on...
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| Silver Demand - Money Versus Commodity Posted: 06 Nov 2012 11:25 AM PST The silver market often seems to be like burning both ends of a candle at the same time. Basically, somewhere in the middle the two flames are bound to meet and cause an explosion in price. Many long term precious metal investors have wondered whether silver is just another commodity component of the CCI, or if it will eventually reassert itself as money? In many ways, silver still behaves like any other commodity market that trades largely based on technical indicators, signals and chart patterns. In large part, this appearance is maintained by the market makers, who are the big bullion banks dominated by J.P. Morgan Chase. At the Mercy of the CFTC, CME and the CCI Currently holding above support noted at $31.50, the COT structure remains bearish for silver. Although Open Interest fell somewhat during the recent downside correction, a lot of speculative longs remain in the Chicago silver futures market. Meanwhile, less and less physical metal is available to in...
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| The Great Precious Metals Managed Retreat Posted: 06 Nov 2012 11:24 AM PST Many observers, notably GATA, have characterized the more than decade long run up in the precious metals markets as a managed retreat orchestrated by the big bullion banks. These banks typically profit by using their large transaction size and deep pockets when the market is vulnerable to induce substantial price variations, often by triggering stop loss orders placed by short term speculators. Price Suppression More a Reality Than a Theory Perhaps one of the more popular criticisms of price suppression theories is that if the silver and/or gold markets were so managed in this way by the bullion banks, why have their prices risen so steadily over time? First of all, this critique is weak because even largest corporate banks would have a hard time holding back the long term flow of investment funds into the precious metals markets. They may be able to trigger short term fluctuations, but the long term trend will overcome those variations. On the other hand, if the...
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| Corrections In Gold And Silver Could Provide Buying Opportunity Before Election Posted: 06 Nov 2012 11:23 AM PST We are experiencing a pullback in precious metals and mining stocks as investors react momentarily to a purported better than expected jobs report. It is reported that the unemployment rate increased despite adding 171,000 new jobs. The numbers look abysmal. However, the media reports that the economy is picking up and no more QE will be needed. Hence, precious metals are hammered. We have seen this before where investors are shaken out during corrections while the long term gold and silver players add more on pullbacks. Now gold and silver are in correction mode and beginning to reach key reversal levels. Our readers know that there will be pullbacks to shakeout investors from the long term upward trend and a base may be formed to be able to regain the technical strength to break through all time highs. The U.S. will continue to keep interest rates at record lows to pay down skyrocketing debts. This will devalue the dollar causing a long term inflation which will continue to cause the value of gold and silver to be the ultimate safe haven at this time.
Precious metals are selling off and the weak hands may be shaken out soon as we reach oversold levels. Investors may be misdirected out of their core positions in precious metals and miners at at time when we may see a reversal and a move into new all time highs in gold and silver. Gold (GLD) is the most oversold since May, where we saw a major reversal and eventual breakout in August on the open ended QE3 announcement. Notice now that gold has pulled back to that breakout area, its 50% retracement and six month uptrend. It is also pulling back to the 200 day moving average. This is a healthy and normal correction with an extremely strong technical support area. We may see a possible reversal and the strong hands regain control at these critical technical levels. We are once again going through a time for testing of our essential position in wealth in the earth equities. Investors are experiencing pain at a time that it is easy to throw in the towel and run to the sidelines in the form of cash and treasuries. For many of my readers we know this could be a snare exactly at the wrong time. We have Central Banks all over the world devaluing currencies through quantitative easing, the Fiscal Cliff is around the corner which could mean another credit downgrades and don't forget about nuclear Iran. These are all fundamental forces which could send not only oil and gold higher but silver soaring.
Silver has made a 50% retracement of its July to October move and is the most oversold since the July reversal. Silver looks like it is coming into major support at $30 at the 200 day moving average and rising uptrend. The demand for silver could rise rapidly as an alternative to fiat currency not only for American citizens, but in all the regions where currency debasement are taking place. Silver is one of the easiest alternatives for the common individual to diversify his holdings away from fiat currency as it is more affordable and fungible than gold. Also gold is currently overvalued to silver according to the historic mean of the gold-silver ratio. Silver provides a cheap alternative for the working-middle class citizen. Look for $30 to be a strong base for the silver price. We reiterate, the markets are like a casino, where the House tries to discourage the majority of the players who go home empty handed, while a select few go home winners. We have learned that market makers look at the same charts that we do and use them to fake out investors only to put in important reversals at support areas. This is exactly what is happening now. Charts can serve to fake us out. The shorts are taking advantage of the low volume and uncertainty originating from Hurricane Sandy and the upcoming U.S. election. Remember politicians tend to make promises during campaigns which are forgotten as soon as the election is over. Not much will change in our view. Whoever is elected will be facing significant hurdles both economically and geopolitically. Many of the major players and banks in Manhattan have not yet returned to the market due to the Hurricane and Election. The volume is low at a time during which the next base is being established for eventual lift-offs into new highs possibly right after the vote.
Remember, that the long range technical picture of the upward trajectory of wealth in the earth equities is still intact and undergoing a needed period of rest and rehabilitation in this ongoing long term upward cycle. We had a powerful move up-move this summer as an open ended QE3 was announced. Despite the recent myopic focus of investors from the jobs report, the world ignores major gold and silver swans such as the recently announced open ended QE3 and its impact on the U.S. dollar. We are deluged by global instabilities, fiscal cliffs and unsustainable sovereign debt. Public sentiment in the junior miners is at a record low. Some small explorers are selling at fractions of their true value. We may be far from a bubble in precious metals indicated by this negative sentiment in the sector. At the time of a bubble, junior mining equities would be selling at multiples of their true value. Instead, they currently represent fire-sale purchases as some great assets are being completely overlooked by the masses. The juniors continue to be bought by major players such as the emerging nations who are placing large bets on the long term upward trend in our chosen sectors of gold, silver, uranium and rare earths. Note China continues to purchase undervalued miners in North America and is opening banks to finance mine development. This was approved by our own Federal Reserve. The meaning of this activity is that this volatility in precious metals and mining equities while striking panic is just a test to shake us out. This is precisely a time not to be concerned. The more sophisticated buyers may be taking advantage of the situation to hold on and indeed add to positions for those who were not able to get in before this summer breakout. Remember, bull trends in gold and silver rise on walls of worry. Healthy pullbacks afford secondary opportunities. We may be basing and bottoming right now. A powerful reversal could occur after the election. In fact, the junior miners are outrageously oversold and represent a deeply discounted contrarian opportunity. Many of our readers were concerned by some brokers putting downgrades on the uranium miners. These bearish downgrades are lovely music to our ears. Remember these are the same banks which may be financing these companies at record lows. Is the same old game of smart money buying low when nobody wants it and selling it to the masses at record highs being played? There may be additional short selling for the period immediately ahead before the election. The negative sentiment and oversold conditions in precious metals and mining equities are the major ingredients for the coming reversal which could be a year end rally in precious metals and miners into new highs. Disclosure: Long Gold, Silver and The Miners Please do your own due diligence. Want to read more? Subscribe to my premium service by clicking here…
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| Posted: 06 Nov 2012 11:22 AM PST London Gold Market Report from Ben Traynor BullionVault Tuesday 6 November 2012, 07:00 EST WHOLESALE MARKET gold prices extended their gains from a day earlier Tuesday, rising above $1690 an ounce in London this morning – 1% up on yesterday's two-month low – while stocks and commodities also ticked higher and US Treasury bonds fell, as voters head to the polls for the US presidential election. Silver prices climbed to $31.43 an ounce – 2.4% up yesterday's low. "A Romney victory in the presidential race could push interest rates up," says a note from HSBC, "[while] an Obama re-election could lower them. Lower interest rates historically have helped gold prices and higher rates have been gold-negative." "Even if Romney wins," adds a note from UBS, "monetary policy in the short-to-medium-term is unlikely to change...[quantitative easing] will remain in place at least for the next fourteen months should subdued growth expectations play out, and gold participants need to be...
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| Posted: 06 Nov 2012 11:19 AM PST November 6, 2012 [LIST] [*]Why voting "legitimizes the corruption": The 5 attempts the impossible and helps make nonvoting respectable... [*]"Black box" vote fraud, Germany's homebound gold and 20,000 missing missiles in Libya: Three "gray swans" to watch for post-election... [*]Frank Holmes with two charts to cheer up gold stockholders... [*]Your very own diamond-studded credit card... readers begin pitching a line of defense in the "War on The 5"... enough of the "huckster crap"... and more! [/LIST] Heh. You thought The 5 was daft. But our argument against voting has turned into a meme among mainstream sources. Staying away from the polling place "feels like a third choice," a Wisconsin librarian told NBC News recently. "We tend to think we have two choices because third parties are not viable. But there is a third choice -- to let other people decide because sometimes either choice goes against everything we believe in." Des...
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| Posted: 06 Nov 2012 11:01 AM PST 06-Nov (USAGOLD) — Gold has rebounded sharply intraday, recapturing the $1700 level. All of the post NFP losses have now been retraced, and then some. This is already the biggest one-day rise in two-months, a comes on the heels of the largest one-day decline in five months, that we saw on Friday. This bounce comes from just in front of the 100-day moving average.
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| Gold Investor Sentiment Higher for 3rd Month in a Row Posted: 06 Nov 2012 11:01 AM PST |
S&P futures are now unchanged from Monday's close – having lost 14 points from the close and over 18 from the highs. Meanwhile, gold is soaring and the USD is being sold. It would appear that as the odds of an Obama victory rises that the fiscal cliff reality becomes even more critical BUT given Bernanke's four-more-years, they have no need to do anything about it since he will just monetize away… Gold realizes its the 'stock' and equities have already priced in the 'flow' but forgot to price in the fiscal cliff (as we have noted)… We assume Schumer will be on the phone first thing in the morning demanding moar doing his job…
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