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- Physical Gold Demand May Now Overwhelm The Manipulators
- Friday Charts: Jobs, Homes, And The World's Most Interesting (And Irrelevant?) Gold Chart
- Dollar Gold “Decidedly Bullish”, Targets $2400 by Mid-2013
- Junior Mining Stocks Could Soon Outstrip the Senior Ones
- Systemic Stress is Building, and it’s Bullish (for now)
- CARTEL DUMPS 1.5 X US ANNUAL SILVER PRODUCTION ON FUTURES MARKET
- POSSIBLE OPPORTUNITY IN OIL
- Silver & Margin Requirements Redux
- Technicals: Silver Update 10.5.12
- Unemployment Rate Drops to 7.8%
- Sean Brodrick on Global Economy, Gold, Silver & Gold Miners
- Sovereigns may prove bigger than commercials shorting gold, Fitzpatrick says
- Amplats fires 12,000 South African platinum miners
- Researchers Have Discovered Bacteria That Turn Toxic Chemicals Into 24-Karat Gold
- David Morgan: This Move Is Just Getting Started
- The Return of the Friday Smack-down?
- 70-Seconds: Metals, Dollar, Bonds, Stocks & Energy
- Asians Take Shine to Silver while Turkey, Syria Clash
- Silver Update: Silver Fakewardation 10.4.12
- Next Dollar Gold Target $2,400 by Mid-2013
- Marc Faber & Jim Rogers: Artificial Markets
- Bullion Shoots for $1,800 on Policy Talk & Sentiment
- Price Inflation “Takes Time” – Kyle Bass on Legacy Economies and Gold
- China To Challenge US Dollar Reserve Currency Status
- One Very Strange Use for Silver Coins
- Greg Hunter’s Weekly Wrap Up
| Physical Gold Demand May Now Overwhelm The Manipulators Posted: 05 Oct 2012 11:27 AM PDT Here is what Embry, who is Chief Investment Strategist at Sprott Asset Management, had to say: "The people on the long side have figured out the game and they know the wind is at their back. So when one of these raids is staged, there is just a wall of buying lined up at a certain place, and that's why these declines stop and then they reverse quite quickly." "The other factor that has to be acknowledged is the physical market for gold is getting very tight. The central banks in the West have probably gotten rid of most of what they can afford to get rid of, and there's no other obvious source. Even the mining, with what's going on in South Africa with the strikes, what's coming out of the ground is actually lower than what it would have been a year ago.... "So as physical demand accelerates, availability is declining, and that bespeaks higher prices. At this point, if you've got other people who are interested in keeping the price under control, why force it up if you can get what you want at a better price? At some point that attitude will change, but right now people are prepared to buy gold on weakness or smashes without really disturbing the market, just gently moving it up. That will change violently at some point, and I won't be really excited in this market until we see a $100 up day, and I think that's coming sooner than most people realize." When asked about the large commercial short position in gold, Embry responded, "If you used history as any guide, you would say be very careful here because you've got the open interest (in gold) at 489,000 contracts as of yesterday. That's up over 100,000 from the lows about three of four months ago. That's a big increase, and supposedly there is a lot of weak, speculative hands on the long side, with the commercials, the bullion banks, on the short side. But there will, in this market, be a commercial signal failure when the commercials are actually overrun. I think the fundamentals for gold are actually sufficiently compelling that we might be at that moment. But I wouldn't go 'all-in' on that basis until we see how it shakes out. But it's a great opportunity to buy physical. I think you have to get the physical right here because if this goes on, there is going to be less and less available, and at some point when a lot of people decide this is a good idea, there won't be any physical available at a reasonable price." http://kingworldnews.com/kingworldne...ipulators.html |
| Friday Charts: Jobs, Homes, And The World's Most Interesting (And Irrelevant?) Gold Chart Posted: 05 Oct 2012 11:17 AM PDT By Lou Basenese: It's Friday in the Wall Street Daily Nation. That means I'm ditching our regular routine of commentary-based articles and, instead, using charts to present some important investment and economic insights. This week, I'm dishing on jobs, since it was a prime focus during Wednesday's first Presidential debate. I'm addressing that pesky little rebound in real estate. (It's gaining momentum.) And finally, I'm sharing one of the most interesting gold charts I've ever seen. I'll leave it up to you to decide whether or not it's relevant as gold prices creep closer to $2,000 per ounce. So let's get to it… A Bad Hand in Misery Poker Both President Obama and Governor Mitt Romney made job creation a centerpiece in Wednesday's Presidential debate. At least both candidates got the message that jobs – and by extension, the economy – are the most important issues to Americans. I've brought attention to the Complete Story » |
| Dollar Gold “Decidedly Bullish”, Targets $2400 by Mid-2013 Posted: 05 Oct 2012 10:48 AM PDT Dollar Gold "Decidedly Bullish", Targets $2400 by Mid-2013 as Indian Demand Turns Higher WHOLESALE U.S. Dollar gold prices slipped 0.4% from new 11-month highs in London trade Friday morning, dipping beneath $1790 per ounce as European stock markets crept higher. Wholesale silver bullion prices eased back below $35.00 per ounce – but also held 1.1% up for the week – as commodities held flat and major-economy government bonds ticked lower. The Euro currency held above $1.30 despite a sharp drop in Germany's industrial orders data. Latest US jobs market data were due just ahead of the start of New York trade, with analysts expecting on average a rise of 113,000 last month from August. "The labour market needs to improve for QE3 to end and, if it does not improve as the Fed wants, other [monetary policy] measures will be introduced," reckons Standard Bank strategist Steven Barrow. "If the third round of quantitative easing leads to further weakness of the US Dollar, [other] central banks may be prompted to switch more cash reserves into gold," says Evy Hambro, co-manager of the UK's giant Blackrock Gold & General mining-stock fund. The chart of Dollar gold prices, says a new report from Hambro's team, "has turned decidedly bullish with the 50-day moving average rising above the 200-day moving average. "The last time this happened was in February 2009…shortly after the implementation of QE1. Then, gold was $900 and never looked back. Should we witness a similar rally, prices would be taken to $2,400 by midsummer next year." Bank analysts and trading desks today cited "further support" for gold prices from geopolitical tension over fighting on the Syria-Turkey border, plus the fast-spreading industrial unrest in South Africa – world #6 for gold mining output. Japan's Toyota Motor Corp. said workers would return today to its Durban plant after it granted the 5.4% pay rise demanded during 4 days of wildcat stoppages. Toyota's car sales in China were 40% down in September from the same month last year, it said today, amid violent protests and consumer boycotts sparked by Japan's purchase of disputed islands in the East China Sea. "The gold market and for that matter most markets love big figures and tend to gravitate towards them," says David Govett at privately-owned commodities broker Marex Spectron. "The $1800 level may not be the most important figure technically, but…if we can break above and hold this should give us impetus towards the mid-1800s." Calling momentum in the gold price "impressive" however, one London market-maker says "Buyers have been meeting a good deal of sellers – the [mining] producers. "Hence we find it impressive that the market did not pull back." Looking at the $1791-1800 price level, "Thick producer and physical offers were present on the last 2 attempts through this area," agrees Swiss refinery MKS's Moudi Raad in Geneva. "I think we will have to see some significant macro news to push us through this." Over in India, meantime – home to the world's heaviest gold consumers, with private households accounting for 1 ounce in every 5 sold worldwide over the last decade – importers of gold bullion have been re-stocking their inventory on the recent dip in Rupee gold prices, the Economic Times reports. "There has been a sustained pickup in the last 10-15 days as people are comfortable with the current rates," the paper quotes Harshad Ajmera of the JJ Gold House wholesalers in Kolkata. Next month brings the Hindu festival of Diwali, typically the peak season for India gold demand amid the post-harvest wedding season. Adrian Ash Gold price chart, no delay | Buy gold online at live prices Adrian Ash is head of research at BullionVault, the secure, low-cost gold and silver market for private investors online, where you can buy gold today vaulted in Zurich on $3 spreads and 0.8% dealing fees. (c) BullionVault 2012 Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.
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| Junior Mining Stocks Could Soon Outstrip the Senior Ones Posted: 05 Oct 2012 10:44 AM PDT Based on the October 5th, 2012 Premium Update. Visit our archives for more gold & silver analysis. It would behoove those who still cling to a misguided faith in fiat currencies to pay close attention to what is happening in Iran. The rial swooned in a free fall as much as 18% on Monday to a record low against the US dollar. The collapse was so steep that Iranian currency websites blanked out the rate. The currency has reportedly lost 80% of its value since the end of 2011. It is literally getting to a point that it will not be worth the paper on which it is printed.
The economic sanctions imposed on Iran over its disputed nuclear program are hitting Iran where it hurts. Inflation is raging at an annual rate of 24 per cent, Iran has been all but frozen out of the global banking system, and its oil exports have been slashed. Britain, France and Germany are pushing for EU sanctions on Iran to be tightened further later this month, to close some of the larger loopholes. Iran's weak currency makes imports to the country more expensive and although a weak currency can theoretically make exports more attractive, Iran is in a bind since most countries don't want to trade with it.
And in a classic scenario, the Iranian government has tried to step in to make things better and bring the currency under control but has only made them worse. Last week it launched an exchange center aimed at stabilizing the rates, but the rial's fall has since increased. Previous attempts also include a sharp rise in interest rates in February and an order for an imposed exchange rate to be used both in banks and on the open market. At the time, the police were sent to change bureaus to implement the order but change bureau owners simply shut down and refused to comply.
Many Iranians have lost faith in the rial and are contributing to its instability by rushing to convert their assets and properties to foreign currency and gold. Turkish gold sales to Iran have soared as Iranians turn to the precious metal to protect savings. Wait a sec. Isn't it for times like these, when the you-know-what hits the fan, that one needs to have physical gold put aside?
Gold has proven itself to be good money time and time again throughout history. It possesses all the properties to make it so: divisible, portable, recognizable and, most importantly, scarce – making it a stable store of value.
Investor and newsletter publisher Dennis Gartman told CNBC Tuesday that "Gold is just another currency. It is doing well in other currency terms… I am not a gold bug. I don't think the world is coming to an end, but I think everyone needs to own some gold."
We bet there are plenty of Iranians who wish now that they would have thought of buying gold earlier.
Let's now move on to today's technical part with the analysis of the general stock market. We will start with the very long-term chart (charts courtesy by http://stockcharts.com.) In the long-term S&P 500 Index chart, we see very much what was described in Tuesday's Market Alert that we sent our subscribers this week.
The S&P 500 didn't really decline below 2008 lows last week and it holds up quite well also this week. At this time the move above the 2008 high appears to be verified. Additionally, the DIA ETF touched the neck level of the previously-completed reverse head-and-shoulders pattern, which is a bullish development as it further verifies the breakout.
The Transportation Average and financials don't confirm the above bullish developments, but their impact is not short-, but medium-term. So, it seems that a rally in stocks is in the cards. The situation is now more bullish than not.
Stocks verified the move above their 2008 top and the picture here is now bullish.
Let us now have a look at the intermarket correlations to see what this bullish picture in the general stock market could mean for the precious metals.
The Correlation Matrix is a tool which we have developed to analyze the impact of the currency markets and the general stock market upon the precious metals sector. Generally, the short-term 30-day coefficients are still in the classic mode this week. The USD Index is negatively correlated with gold, and the general stock market is positively correlated with the precious metals.
Here we can see that the general stock market has bullish implications in the short and medium term. As we can see, the correlations between the USD Index and the precious metals in general are quite strong and it would be advisable to take this currency into account as well, when making your investment and speculative decisions.
However, the most important implication for the following part of the essay is that the general stock market is strongly and positively correlated with the junior sector (note high values of correlation coefficients in the row that is 3rd from the bottom). This means that the positive situation (technically speaking) in stocks is positive also for juniors.
Speaking of juniors, let's have a look at their long-term chart. In the Toronto Stock Exchange Venture Index (which is a proxy for the junior miners as so many of them are included in it), we see a confirmed move back above the recent bearish head-and-shoulders pattern. This long-term pattern was clearly visible and confirmed – and yet, it was invalidated, which proves that strength of the sector. The situation is now bullish, and the long-term picture for the precious metals juniors looks very favorable at this time.
Speaking of juniors and their timing, please take a look below at our SP Junior Indicator: As you can see, the indicator moves somewhat in tune with juniors, with the main difference being that it moves horizontally. Thanks to this and overbought / oversold levels (dashed lines), we can see if juniors are currently overvalued relative to senior mining stocks or vice-versa. When the indicator is overbought and starts to decline, it's time to limit one exposure to the junior sector, and when its oversold and starts to move higher, it's time to increase one's juniors' holdings. As you can see this approach was useful not only in 2008 but also in the most recent years. The key point here is that the SP Junior Indicator is moving higher after being oversold for several weeks – which makes it a very good time for one to think of increasing their exposure to the junior miners. Please keep in mind that both above charts are of long-term nature, which means that they don't tell us anything about the short-term price moves – a correction may or may not be seen based on them, all they tell is that no matter if a correction is seen or not, juniors will likely thrive in the following months.
Summing up, the picture for the general stock market appears bullish at this time, and since it's positively correlated with gold, silver and precious metals mining stocks, it bodes well for these assets. The situation on the USD Index and the fact that the precious metals sector is overbought on a short-term basis, however, suggests that a correction is quite likely to be seen soon.
Still, no matter if a correction is seen soon or not, the case for the junior mining stocks seems really favorable, as the move back above the recent bearish head-and-shoulders pattern appears to have been verified. Additionally, the SP Junior Long-term indicator suggests that juniors are likely to outperform senior miners in the weeks to come.
Meanwhile, if you are considering purchasing gold (or you've been looking for a good place to direct your friends to when they ask you how to do it) we suggest that you look at our newly-released how to buy gold section, in which we awarded each method from 1 to 5 stars according to their usefulness to investors and traders.
Thank you for reading. Have a great weekend and profitable week!
Przemyslaw Radomski, CFA Editor * * * * *
Interested in increasing your profits in the precious metals sector? Want to know which stocks to buy? Would you like to improve your risk/reward ratio?
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All essays, research and information found above represent analyses and opinions of Mr. Radomski and Sunshine Profits' associates only. As such, it may prove wrong and be a subject to change without notice. Opinions and analyses were based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are believed to be accurate, Mr. Radomski and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above belong to Mr. Radomski or respective associates and are neither an offer nor a recommendation to purchase or sell securities. Mr. Radomski is not a Registered Securities Advisor. Mr. Radomski does not recommend services, products, business or investment in any company mentioned in any of his essays or reports. Materials published above have been prepared for your private use and their sole purpose is to educate readers about various investments.
By reading Mr. Radomski's essays or reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these essays or reports. Investing, trading and speculation in any financial markets may involve high risk of loss. We strongly advise that you consult a certified investment advisor and we encourage you to do your own research before making any investment decision. Mr. Radomski, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.
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| Systemic Stress is Building, and it’s Bullish (for now) Posted: 05 Oct 2012 09:47 AM PDT
Using the spread between 30 year and 2 year US Treasury yields, we can gauge when policy makers are in control of market participants' perceptions and when they are losing control to the free market's will. Operation Twist was announced in September of 2011 in the aftermath of the first phase of the Euro crisis as the yield curve had exploded higher, taking the monetary stress barometer, gold, with it. Over bought on unbridled momentum, gold entered an extended correction in line with the yield curve, which complied with policy makers' goal of calming down the system. As shown many times in the past, gold and the 30-2 yield curve generally travel together. By the time Op Twist's extension was announced in June, an already mature gold correction and an in-line yield curve unsurprisingly did not respond to the manipulators' directive. The operation whereby the Federal Reserve would buy up long-term bonds and sanitize the process by selling off short-term ones was exposed as the macro parlor trick that it is. It resulted in little more than a deflationary pretense against which inflationary policy could be promoted anew. In hindsight, the free market knew that a bald faced and more honest inflation regimen would be engaged by policy makers desperate to keep power, as the yield curve shook off the Twist manipulation and looked ahead to full-on inflation or 'i2k12′ (Inflationary 2012) as NFTRH coined it early in the year. A rising yield curve is all about the promotion of inflation. The weekly view of the 30/2 yield curve and gold shows the Greenspan era inflationary regime, which was promoted against the bear market early last decade. This was the kickoff to what NFTRH terms the age of 'Inflation onDemand'. Greenie's version of ZIRP resulted in a credit bubble and mal-investment far and wide. When he tried to take it back by raising short-term interest rates, the yield curve complied but a system already too far out on the leveraged limb eventually began to fall apart. The system was beyond normal austere policy making. To put it in non-technical terms, FrankenMarket needed juice and it needed it fast. Enter the man for the job, Greenspan lackie Ben Bernanke, the new Federal Reserve chief, fresh with monetary and economic management ideas straight out of academia. Enter a whole new level of management where an epic macro game of 'all or nothing' came into play. As US financial institutions began to fail, the curve began to rise as the Fed cut rates as fast as it could. Inflation was again being promoted, but the act of inflating did not stop the oncoming liquidation of Q4, 2008. The curve declined from the 2008 stress spike as it usually does during deflationary liquidations. These periods of deflationary pressure serve to build up the next stress spike in the curve. As QE1 eventually took hold, the curve rose into the events surrounding the 2010 'Flash Crash', at which point QE2 was promoted. This launched an intense phase of inflationary cost pressures that culminated in the curve topping out in late 2010, with commodities following suit in early 2011. This resulted in the deflationary pressures that held sway for the balance of 2011 before eventually giving way to a new inflationary regime that was born in the summer of 2012. Enter NFTRH's long-awaited i2k12. But the nominal 30 year bond yield has been declining since… forever; deflation is the play! No sir, a wellspring of goodwill was passed on to Alan Greenspan by Paul Volcker in the mid-80′s and Sir Alan borrowed against this goodwill for all it was worth until finally, the system could not take it anymore. The great bull market of 1980 to 2000 expired and the age of Inflation onDemand began. The monetary metal was rightly contained until the current era where inflationary policy is used ever more desperately to battle the next oncoming liquidation. There are no bond vigilantes anymore. There is just a massive market in US Treasury bonds being worked over by really smart people employing really dangerous operations. The middle chart above shows a curve that is ready to continue upward into building inflationary stress. The last chart shows that gold has not been deterred despite what is made to appear to be an ongoing deflationary continuum. The current inflation could run until the curve reaches new highs and/or the Continuum paints another red arrow at the downtrend line. Or it could just run until the system ends; it's a which ever comes first type of scenario. That's our system folks; very high risk and high reward. But it is terminal. Hence the case for gold. The barbarous relic would help people bridge the gap between the dying system and the one that comes next. That is why it is not taking the bait anymore on the periodic liquidations. Be safe first… speculate second. Safety means eliminate debt and own things of value. I fully believe that happiness can be achieved in these painful times. But you have got to take control and not take the mainstream media bromides to heart. I am not sure where this post came from or even where it went to. But there it is anyway. A great weekend to you. Website: http://www.biiwii.com; Free eLetter.
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| CARTEL DUMPS 1.5 X US ANNUAL SILVER PRODUCTION ON FUTURES MARKET Posted: 05 Oct 2012 09:40 AM PDT Farkin crooks............... In an attempt to flash-smash silver and prevent a weekly close above the critical $35 level, the cartel dumped an estimated 51 MILLION OUNCES of paper silver on the futures market in only 5 minutes on this morning's non-farm payrolls release between 8:30 and 8:35 AM EST. Net Dania's spot silver chart, which is not a precise futures volume measure but approximates the volume, indicates nearly 10,500 contracts were dumped in a span of merely 5 minutes, and half of those were dumped in a span of 2 minutes between 8:30 and 8:32am EST. http://www.silverdoctors.com/cartel-...se/#more-15018 |
| Posted: 05 Oct 2012 08:56 AM PDT Generally speaking, I'm not one to put much faith in conspiracy theories. I don't think the price of gold and silver is being suppressed by the government or the Fed. Our money supply is no longer tied to gold so there is no logical reason for the Fed to care what the price of gold is. No matter how high or low it goes it's not going to affect the Fed's ability to counterfeit dollars at will. Oil on the other hand I can see a very good reason to attempt manipulation. If the price of oil rises too high it stifles economic growth and will eventually trigger the next recession. During the last commodity bull market we have a clear history of politicians trying to impose price controls on energy, but no history of price control on precious metals. Over the next month rising oil prices might not be too kind to incumbent politicians. So I could see a logical reason to attempt suppression of the oil markets over the next month. It is late enough in the intermediate cycle that yesterday should have marked a bottom for oil. If oil were to continue down for the rest of the month moving well out of the timing band for an intermediate bottom I could make a case for something fishy going on, especially if the dollar continues to fall during this time. However as most people already know artificially depressing price always has the opposite effect by creating too much demand. Eventually that demand overwhelms the attempts at manipulation and the asset or commodity will resume its secular trend at a much faster pace than would have occurred naturally. The opportunity is that if we see oil held artificially low over the next month, and well past the intermediate cycle timing band, to create a favorable environment for incumbent politicians, then we can expect an exceptionally violent snap back rally once demand overwhelms the manipulation. The trade would be to buy energy stocks or oil futures right after the elections if oil continues to remain in a downtrend into November.        |
| Silver & Margin Requirements Redux Posted: 05 Oct 2012 08:52 AM PDT Wary silver investors may be wise to watch out for a pre-election margin hike. Especially if silver's price gets too frothy or starts dragging the price of gold up along with it, since such events could signal the reemergence of unpopular inflationary pressures.  |
| Technicals: Silver Update 10.5.12 Posted: 05 Oct 2012 08:00 AM PDT |
| Unemployment Rate Drops to 7.8% Posted: 05 Oct 2012 07:58 AM PDT We can just hear it now. The current actors in Washington will be pounding the table that they have 'brought down the official headline unemployment rate since taking office' – by a whopping one-tenth of a percentage point too. The American people know that the numbers today are in spite of the current cast and crew in Washington and their push to turn the U.S. into the next European socialist state, not because of their efforts. It is a testament to the resilience of the U.S. economy and the resourcefulness of Americans that they could overcome so many Big Government headwinds. Of course, that's if one believes the numbers, seasonal adjustments and upward revisions as reported by the Bureau of Labor Statistics. Be sure and listen to what Mr. Rick Santelli has to say in the CNBC video below on that score. Great time to go fishing. So we likely shall. The markets will settle by Tuesday more likely than not. After the Debate Disaster in Denver, the Pretender in Chief (P-I-C) sure needed (and has apparently gotten) some help, but our sense is that the Press has now turned on POTUS, just as they did with James Earl Carter in 1980, with mere weeks to go in the race.
Source: CNBC Edit at 11:55. Yep, it was Johnny Mathis and Deniece Williams with the classic rendition Cr. 1978. Thanks to Vulture S.C.C. for the YouTube link. |
| Sean Brodrick on Global Economy, Gold, Silver & Gold Miners Posted: 05 Oct 2012 07:38 AM PDT |
| Sovereigns may prove bigger than commercials shorting gold, Fitzpatrick says Posted: 05 Oct 2012 07:31 AM PDT |
| Amplats fires 12,000 South African platinum miners Posted: 05 Oct 2012 07:27 AM PDT Amplats fires 12,000 South African platinum miners (link) BBC News, Oct 5, '12 "The world's biggest platinum producer, Anglo American Platinum, has fired 12,000 striking South African miners after a protracted strike over wages. Amplats said three weeks of illegal strikes by 28,000 workers had cost it 39,000 ounces in lost output - or 700m rand ($82.3m; £51m) in lost revenue." |
| Researchers Have Discovered Bacteria That Turn Toxic Chemicals Into 24-Karat Gold Posted: 05 Oct 2012 07:23 AM PDT http://www.businessinsider.com/bacte...o-gold-2012-10  :afraid::afraid::afraid::afraid::afraid::afraid::a fraid::afraid::afraid::afraid::afraid::afraid::afr aid: Researchers at Michigan State University have discovered bacteria with the remarkable ability to turn toxic chemical compounds into 24-karat gold. The breakthrough, detailed in a combination art and biotechnology exhibition called "The Great Work of the Metal Lover," is described by researcher Adam Brown as modern day "neo-alchemy." Here's what you should know: What is this bacteria, exactly? The microbe, Cupriavidus metallidurans, possesses the unique ability to survive in extremely toxic environments. A few years ago, researchers discovered the bacteria growing on gold nuggets at two separate sites hundreds of miles apart in Australia. That got scientists thinking: Does this bacteria just happen to live in the vicinity of gold, or do they actually create gold? Well... do these bacteria actually turn chemicals into gold? Yes. Kazem Kashefi, assistant professor of microbiology and molecular genetics, and Adam Brown, associate professor of electronic art and intermedia, discovered that C. metallidurans could grow and prosper if placed on gold chloride, an otherwise worthless yet toxic chemical. Using a portable laboratory made out of the bacteria, a glass bioreactor, and 24-karate gold-plated hardware, the team continually fed the bacterium "unprecedented amounts of gold chloride," says R&D Mag. Not only were the bacteria extraordinarily resistant to gold chloride's toxicity, but in about a week, they converted the toxic chemical into 99.9 percent pure gold. The details are a bit complicated, says Jesus Diaz at Gizmodo, but basically, "Cupriavidus metallidurans can eat toxins and poop out gold nuggets." What does this mean for gold production? Although the Michigan State University experiment was successful, it could be "cost prohibitive to reproduce [this] experiment on a larger scale," says R&D Mag. So don't expect to grow your own gold at home anytime soon. |
| David Morgan: This Move Is Just Getting Started Posted: 05 Oct 2012 07:12 AM PDT In this interview, David shares his thoughts on the gold, silver, and mining share market. He feels at this time, we are just getting started on the next move higher in both the metals and shares. from silverguru: He discusses the summertime sentiment, which was extremely negative with the majority of retail investors looking to exit. According to David, they should be doing the exact opposite… ~TVR |
| The Return of the Friday Smack-down? Posted: 05 Oct 2012 06:24 AM PDT Looked at the PM ticker this morning and actually experienced a mild deja-vu.;) Who remembers "the good 'ol days" when a smack-down was pretty much guaranteed on Friday?:lollypop: I've noticed though that lately, smack-downs happen on any day and tend to be only very short-lived spikes instead of lasting. The banksters are going to have to figure out some other way, or go home. Might be a chance today to add to the pile.:musical_note::eating::musical_note: R. |
| 70-Seconds: Metals, Dollar, Bonds, Stocks & Energy Posted: 05 Oct 2012 05:29 AM PDT The key to navigating stocks which everyone thinks are overbought is to trade small position sizes and focus on the shorter time frames like the four-hour charts. This chart is my secret weapon.  |
| Asians Take Shine to Silver while Turkey, Syria Clash Posted: 05 Oct 2012 05:17 AM PDT Gold reached an 11 month high on Friday riding its 5th day of gains as quantitative easing from central banks continue to see the yellow metal shine as an inflation hedge while investors await the key US jobs data at 1230 GMT.  |
| Silver Update: Silver Fakewardation 10.4.12 Posted: 05 Oct 2012 05:05 AM PDT |
| Next Dollar Gold Target $2,400 by Mid-2013 Posted: 05 Oct 2012 04:56 AM PDT Wholesale US dollar gold prices slipped 0.4% from new 11-month highs in London trade Friday morning, dipping beneath $1,790 per ounce as European stock markets crept higher.  |
| Marc Faber & Jim Rogers: Artificial Markets Posted: 05 Oct 2012 04:44 AM PDT While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly our political leaders that summed up perfectly the dreadful reality in which we find ourselves. The punchline: "It is very dangerous to have ignorant people believing that they know something." from zerohedge.com: Rogers is bullish China long-term but buying Chinese stocks only selectively… Faber sees under-the-surface weakness in US equities and while central banks could print us to Dow 30,000; gold and other commodities will be astronomical by then… Faber is bearish AAPL, believes its a bubble – but too dangerous to short… Both are uber-bearish central-bankers and politicians… Marc Faber: "Both candidates are clueless and completely artificial…" Jimmy Rogers: "It's worse than clueless, because they think they know what they're doing.. and so they are dangerous! If they were just clueless and looked out the window, we wouldn't have a problem, but they think they have the solution – but their solutions are what's making the situation worse…" Marc Faber: "That is precisely the point. It is very dangerous to have ignorant people believing that they know something!" |
| Bullion Shoots for $1,800 on Policy Talk & Sentiment Posted: 05 Oct 2012 04:42 AM PDT Gold price sentiment has continued to surge – traders have made the biggest bets on a gold rally since seven months ago and the gold-backed ETP holdings have reached another record high at 2,565 metric tons.  |
| Price Inflation “Takes Time” – Kyle Bass on Legacy Economies and Gold Posted: 05 Oct 2012 04:39 AM PDT from wealthcycles.com: Kyle Bass loved playing the strategy board game Risk as a child and says the case of Iceland initially intrigued him as it has us in recent months. (See Iceland Rebound Model for Distressed European Nations and Iceland Economic Recovery Does Not Quell Eurozone Aspirations for more.) Fast forward a handful of years, and today Bass is a billionaire, paid handsomely to safeguard capital and provide opportunities to grow what he protects. Bass was one of those who was profiled in Michael Lewis' compilation of Vanity Fair articles titled Boomerang. From recent and historic interviews, we can recreate the worldview that helped Bass save or create billions in client capital, before taking his well deserved pay from that success. It bears reminding that profit is not a dirty word. In fact, it is angelic. Profit is the sign that social wealth improved; a consumer rewards an entrepreneur with profits only if the consumer feels his or her needs are satisfied better than the entrepreneur's competition could satisfy them. Keep on reading @ wealthcycles.com |
| China To Challenge US Dollar Reserve Currency Status Posted: 05 Oct 2012 04:38 AM PDT from goldcore.com: Today's AM fix was USD 1,786.50, EUR 1,380.92, and GBP 1,109.01 per ounce. Silver is trading at $35.08/oz, €27.13/oz and £21.84/oz. Platinum is trading at $1,707.00/oz, palladium at $664.50/oz and rhodium at $1,180/oz. Gold edged up $3.40 or 0.19% in New York yesterday which saw gold close at $1,778.50. Silver initially climbed to $34.848 then it fell off in afternoon trading and finished with a loss of 0.06%. Keep on reading @ goldcore.com |
| One Very Strange Use for Silver Coins Posted: 05 Oct 2012 04:36 AM PDT from sovereignman.com: "Corruptissima republica plurimae leges. [The more numerous the laws, the more corrupt the state.]" -Tacitus, the Annals ca. AD 69 The nature of what is 'legal' has become a truly bizarre concept these days. Developed nations of the west have hundreds of thousands of pages of rules, codes, regulations, laws, decrees, executive orders, etc., many of which are contradictory, archaic, and incomprehensible. Across these 'free' nations, the law is selectively enforced, selectively applied, and completely set aside whenever it pleases the state. As such, even the most harmless of activities (operating a lemonade stand, collecting rainwater, etc.) can be cast as illegal… while the direct theft of people's wealth through taxes and manipulation of the currency is considered legal. Keep on reading @ sovereignman.com |
| Posted: 05 Oct 2012 04:36 AM PDT Republican challenger Mitt Romney scored a big victory against President Obama in the first Presidential debate. from usawatchdog: This week, Syria and Turkey traded shots across their borders. Syria fired mortars into Syria, and Turkey shelled Syrian troops. Gross says the U.S. government is hooked on "budgetary crystal meth," buy gold and silver. Join Greg Hunter of USAWatchdog.com as he gives his analysis of these stories and more in the Weekly News Wrap-Up. ~TVR |
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