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- Technical Trades of the Week – SPX, Dollar, Nat Gas
- The Gold Bubble: Why It Just Won't Burst
- Bullish Reaction, Bearish Response From Markets After QE 6.5% Announcement
- Buy Today's Selloff In Silver
- Xstrata Copper Backs Off Philippine Project
- SPY Soars As U.S. Borrowed 51.6¢ Of Every Dollar Spent In November 2012
- Bullion in an Uncertain World
- The Daily Nugget – Gold unimpressed by Fed
- Gold & Silver Fall Hard from 2-Week High as New Fed Easing Spooks Traders
- Gold-Confiscation Coming To India?
- Jim Sinclair On Today's Gold Price Decline
- Jim Sinclair: Gold Does Not Need You Or Me
- Jeffrey Christian: Misunderstood
- Kaminak Reports Maiden Inferred Mineral Resource Estimate of 3,236,000 ounces of Gold at the Coffee Project, Yukon
- Federal Reserve Ups Money Printing For 2013
- Quelle Surprise! OCC Confirms that Big Banks are Badly Managed, Lack Adequate Risk Management Controls
- Andy Hoffman: The Day Our Currency Died
- SilverFuturist: More silver jewelry than coins sold
- Silver: Premiums Soar, Shortages Loom
- Andy Duncan: Sword of Marathon
- The Law of Diminishing Returns
- Gold miners under pressure as investors start to vent anger at rising costs and diminishing profits
- Gold & Silver Fall Hard from Two-Week High
- Gold Falls on Fed’s QE4 & ZIRP Tied to Unemployment
- Links 12/13/12
- Gold demand increases 15pc
- Dubai to post record $335bn non-oil trade for 2012 up 13 per cent on 2011
- Neil Barofsky: Too Big to Jail – Our Banking System’s Latest Disgrace
- Gold price slips back to $1700 as Glen Stevens from the RBA says the eventually interest rates will surely rise
- Lee Quaintance and Paul Brodsky: For Gold Market Rigging, Look East Too
- Porter Stansberry: Gold and Real Estate Are My Hedges for the Fiscal Cliff
- Levy on gold could be budget windfall, U.S. lawmakers say
- RMPM to enroll 10,000 jewellers, distributors for My Gold Plan
- Three King World News Blogs
- Gold: 'Monetary Collapse Insurance'
| Technical Trades of the Week – SPX, Dollar, Nat Gas Posted: 13 Dec 2012 12:03 PM PST Yesterday's price action was very bearish yet again and we are patiently waiting for a counter trend pullback to happen. While there are some good looking plays out there I really do not want to get long until the market clears the air with a bout or three of strong...  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Gold Bubble: Why It Just Won't Burst Posted: 13 Dec 2012 11:55 AM PST By There has been a lot of focus on the price of gold recently. Some say it is expensive, or that it is time to sell. Charts have been constructed that pit gold against the Consumer Price Index in an attempt to disprove the market's perception of gold as the greatest hedge against inflation. For several years there has even been talk of a gold bubble. This leaves one to wonder why market leaders like Morgan Stanley claim gold to be the best commodity going into 2013. While comparing the CPI to certain commodities it is important to note that inflation does not affect all prices uniformly; and by the time the price structure has adjusted to inflation, prices have all been affected in different magnitudes. It is fruitless to ask how a commodity such as gold or silver will trade against the CPI, which is simply an Complete Story » | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bullish Reaction, Bearish Response From Markets After QE 6.5% Announcement Posted: 13 Dec 2012 11:43 AM PST By Danny Furman: Gold was down 1% in overseas trading after a classic head-fake on news yesterday from the Fed. Monthly asset purchases will increase to an expected $85 billion and rates will not be raised until unemployment is reported below 6.5%, or in other words a hell of a long time from now. Gold mining stocks (GDX) surged yesterday, which to me implies massive speculation based on the announcement. Investors should all be aware that both gold (GLD) and the S&P 500 (SPY) are essentially flat since QE3 was announced just three months ago. Market action yesterday, highlighted by a massive buying surge in both stocks and precious metals followed by steady selling to close at the day's lows, is overwhelmingly bearish. Gold has since fallen below $1700/oz. Markets may be starting to realize that easing measures pursued by the Fed have not stimulated overall economic activity effectively or sufficiently. In Complete Story » | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Dec 2012 11:37 AM PST By Gold and silver have pulled back significantly from their recent highs hit on October 4th this year, after spiking significantly following global central bank actions in August and September, and today's silver selloff is a buying opportunity. Today traders are taking profits as the fear of a capital gains tax hike as a result of the fiscal cliff negotiations stalling in Washington. The precious metals-- particularly silver and the stocks in the sector-- are taking a beating today. At the time of this writing, the most popular gold and silver ETFs, the SPDR Gold Trust (GLD) and the iShares Silver Trust (SLV) are trading lower. GLD is down 1.0% and the SLV is getting crushed, down 3.3% today and dropping further as I write. The ETFs that track the miners of these metals such as the Market Vectors Gold Miners ETF (GDX) and the Complete Story » | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Xstrata Copper Backs Off Philippine Project Posted: 13 Dec 2012 11:23 AM PST By Bob Johnson: This article follows two related articles, A Sea Change In Mining: 1 Stock To Buy, 1 To Hold And 2 To Sell Country Risk: $1 Trillion Of Mineral Resources At Stake In Philippines Xstrata Scrubs Tampakan Mine for Present In a press release from General Santos City in the Southern Philippine Island of Mindanao, Xstrata Copper (XSRAY.PK) has put a hold on its planned $5.6 billion development at Tampakan. Construction is delayed from 2013 to at least 2015 and production from the mine cannot start earlier than 2019. There have been a number of problems since Xstrata started its work in the area 10 years ago. Security issues include trespass, shootings and unruly demonstrations; this limits field activities in the project area. The largest problem, however, is political. There is uncertainty regarding provincial regulations. South Cotabato passed regulations that are more restrictive than national policy. Presidential Order Complete Story » | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SPY Soars As U.S. Borrowed 51.6¢ Of Every Dollar Spent In November 2012 Posted: 13 Dec 2012 10:52 AM PST By Kirk Lindstrom: In my February 2011 article "How to Play Expected Inflation from the TIPS Spread" I wrote I was long SPY, as one way to benefit from expected inflation. "I also believe it is a good time to own equities including SPY, the exchange traded fund for the S&P500, for both inflation protection and income." As long as the US government spends more than it takes in and the Federal Reserve continues with its policy of buying the debt from the government at very low rates, I believe this relationship will hold true. Yesterday (12/12/12), Fed chairman Ben Bernanke said, "Against a macroeconomic backdrop that includes both high unemployment and subdued inflation, the FOMC will maintain its highly accommodative policy. Today the Committee took several steps. First, it decided to continue its purchases of agency mortgage-backed securities (MBS), initiated at the September meeting, at a pace Complete Story » | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 13 Dec 2012 10:11 AM PST In a volatile, high-risk, volatile world prudence calls for managing against a range of risks by looking at how assets inter-relate, rather than searching for the one or two assets that might perform best in a more certain and low-risk world.  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Daily Nugget – Gold unimpressed by Fed Posted: 13 Dec 2012 09:58 AM PST    Gold price below $1,700? But the Fed have just doubled QE, isn't gold supposed to go up? Not anymore, as I wrote in our gold investment news on Tuesday – gold almost appears bored by the Fed. Expectations of the Fed's money printing schemes had already been taken into account by markets, and of course concerns that this round of QE could be 'limited' (inflation) are making investors cautious. It seems markets wanted unlimited QE as we saw announced previously. We are, obviously, also coming to year end. Many are looking to liquidate and square up their positions before the Christmas break. All of these factors are clearly short-term. In the long-term these moves by the Fed are clearly good news for gold. Physical gold investment demand appears to be holding steady, however the price cannot hold against those investors looking to sell and quickly book profits. As we said above the Fed have linked this round of money printing to employment, saying these rates will remain low until unemployment is back below 6.5% – which they do not see happening until 2015. Following the announcement gold reached a two week high of $1,723.01 an ounce before dropping to $1,693.80. Analysts believe the yellow metal will remain a narrow range until the end of the year (assuming we don't see similar trading action we did around last Christmas) given the time of year and US budget talks causing many to be cautious and look for liquidity. The Fed's statement that it is prepared to risk higher inflation in order to sort out those pesky unemployment figures suggests targets could be moved to anywhere they fancy, if not 3% why not 3% or 5%? Whilst this would be bullish for gold we must also remember that for as long as QE remains in play and maintains low interest rates, this will supress rates across the yield curve meaning zero-yielding gold will look more attractive to investors. Silver fared slightly worse, falling by more than 2 per cent. Unlike gold, it is down on the year. Yesterday really did separate the men from the boys – those who see gold as a hedge against Fed announcements and those who invest in gold bullion for the long-term, regardless of announcements and other chatter. However yesterday's markets understood the implications and results of QE – the fact remains that central banks cannot permanently shield society from the effects of over-spending and living out of their means. Perhaps those selling gold yesterday were only reading the seven reports mentioned in this Reuters article. Clyde Russell has studied 7 reports 'which included among others articles from Goldman Sachs, Morgan Stanley, Deutsche Bank, Barclays and ANZ Banking Group, five didn't contain the words China and India.' If people writing, and reading, these reports are not aware of the driving force these two nations have on the gold market then no wonder they are looking to sell gold. According to Russell the reports focussed heavily on QE and the potential for more in the coming year. They are ignoring the major role central bank buying has played on the market and the increase in ETF holdings this year. Yesterday, soon-to-be Governor of the Bank of England Mark Carney suggested central banks turn away from the rule-book and try some new tactics on getting us out of this slump. Whilst he insists he was speaking only with Canada in mind, his calls for abandoning inflation targets will set some minds going here in the UK. If you enjoy the Daily Nugget and would like to keep in touch with our original commentary and research, why not follow us on Twitter or you could subscribe to our Gold Investment news RSS feed. Please Note: Information published here is provided to aid your thinking and investment decisions, not lead them. You should independently decide the best place for your money, and any investment decision you make is done so at your own risk. Data included here within may already be out of date. TAGS: Central Banks, Gold bullion, Gold Investment, Gold prices CATEGORIES: Gold bullion, Latest gold news About the Author Jan SkoylesJan Skoyles is Head of Research at The Real Asset Company, a platform for secure and efficient gold investment. Jan first became interested in precious metals and sound money when she met Ned Naylor-Leyland whilst working alongside him in the summer of 2010. Jan then went on to write her undergraduate dissertation on the use of precious metals in the monetary system. After graduating from Aston University Jan joined The Real Asset Co research desk. Her work and views are now featured on a range of sites including Kitco, GATA, lewrockwell.com and The Telegraph. She has appeared on news channels including Russia Today to discuss the gold price and gold investing. You can keep up with Jan's commentary by subscribing to our RSS feed Gold Investment News.View all posts by Jan Skoyles →  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold & Silver Fall Hard from 2-Week High as New Fed Easing Spooks Traders Posted: 13 Dec 2012 09:51 AM PST GOLD and silver fell hard overnight and early Thursday in London, dropping as European stock markets also fell and the US Dollar rose despite yesterday's latest "easy money" policy from the Federal Reserve. Holding its key interest rate in the record low range of 0% to 0.25% for the 48th month running, the Fed's open market committee swapped its guidance for any rise in interest rates from mid-2015 to a target unemployment rate of 6.5% or below. The Fed also confirmed it will begin a new round of quantitative easing in January, spending $45 billion per month to buy US government debt with no limit on the program's total purchases. "Any QE should be positive for the yellow metal," said one wholesale gold dealer before Wednesday's announcement. Yet after jumping $10 an ounce to a 2-week high of $1723 on the news, the Gold Price then fell back, dropping through $1700 at the start of Asian trade. "What is behind this weakness?" asks Dubai-based gold dealer INTL FCStone. "We suspect that with the Fed now on a prolonged easy stance, the lack of progress coming out of Washington with respect to the fiscal cliff talks [regarding $600bn of scheduled US spending cuts and tax hikes] is causing increasing concern. "We would rather watch things from the sidelines for the time being, as the markets are getting too choppy to trade." More than 60% of the new, open-ended QE program will be spent on medium and long-term US Treasury bonds, the New York Fed said yesterday. Yet longer-dated US bonds fell early Thursday, pushing the interest rates they offer to investors higher. The US Dollar meantime reversed an overnight drop versus the Euro and British Pound, helping the gold price in those currencies recover a little from 1-week lows. Silver fell to $32.79 on Thursday morning, down $1.00 per ounce from Wednesday's 2-week high. "We remain gold bulls," says Swiss investment and bullion bank UBS in a new commodities review today. "Ongoing uncertainty around US fiscal issues, together with the view that major central banks will maintain loose monetary policies for longer, are key supports of our outlook. "Gold's 'X-factor' is a resolution [to the fiscal cliff] that includes a lift to the debt ceiling which, in turn, increases the likelihood of ratings agency action [ie, downgrading the United States' long-term credit rating], boosting gold's popularity in 2013." The Bank of Japan is meantime planning to allow hedge funds and other financial speculators to receive money from its quantitative easing program, according to Bloomberg, removing the current restriction on interbank lending. Bloomberg's "insider sources" also say the BoJ wants to avoid boosting Japan's huge government debts, and so will target private-sector assets with its newly-created money instead. "While the Yen has fallen almost 5% against the Dollar in the past month," notes the newswire, "it's still stronger than the ¥100 per Dollar that Nissan Motor Co. chief executive Carlos Ghosn said is the currency's 'neutral range'." The Swiss National Bank remains "prepared to buy foreign currency in unlimited quantities" it said again today, creating and selling Francs on the FX market to its hold its value beneath €1.20. Swiss banking giant UBS this week joined its rival Credit Suisse in setting its short-term interest rate for depositors below zero, charging account holders for running a positive balance. 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 and silver vaulted in Zurich for just 0.5% in 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.  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold-Confiscation Coming To India? Posted: 13 Dec 2012 09:42 AM PST As one of the loudest voices warning of the risks of "bullion confiscation" by our governments; it was no surprise to me to see the Corporate Media singing the virtues of bullion confiscation. What was a surprise is where this "initiative" purportedly originates: India. Readers who follow the precious metals market are familiar with the dynamics here. Western Sheep choose to hold the bankers' fraudulent paper currencies – despite our governments openly/explicitly driving the values of those currencies to zero with their "competitive devaluation." It was this foolhardy mistake which is a major factor behind the greater-than-50% decline in the U.S. standard of living over the past 40 years. Meanwhile the "peasants" in India (as well as many/most urban residents) do not engage in similar, suicidal behavior. They park their wealth in gold (and silver) bullion – immune to the print-and-dilute theft inherent in every fiat-currency system. It is one of the key reasons why Asian standards of living are rising, while those of the West plummet downward at the fastest rate in history. In my own naivete, I had assumed that our predatory Western governments would target their own people for bullion confiscation, and look to steal the modest amount of savings of the shrewd minority in our societies who do hold precious metals. But apparently the bankers and Oligarchs have their sights set on a bigger prize: the largest private holdings of bullion in the world, in India. Let's be clear that this is obviously a Western proposal, as indicated by the English-speaking "front" organization used to deliver this propaganda. What is the substance of the proposal? …Households and temples carry about 25,000 metric tons [of gold] and a successful plan to gather at least 10 percent of the gold reserves for lending to jewelers will ensure supplies for three years… So here we see the modest goal of the Western Oligarchs: harvesting (i.e. confiscating) "at least 10 percent" of Indians' gold, and to apparently repeat this harvest every three years – since the propagandists putting forth this trial-balloon claim that a 10% harvest would only deal with the supposed "problem" faced by India for three years. We see further evidence that the entity spewing this banker propaganda is nothing but a Western mouthpiece, as any genuine "Indian" entity would understand that proposing to plunder the gold from India's religious temples would be an absolute "non-starter" for its ¾ billion population. Just as phony as the organization itself is the supposed "problem" which this bullion-confiscation scheme claims to address: what it calls India's "current account deficit." Here a quick definition is in order for those not conversant with this economic jargon. A current account deficit (or surplus) represents the flow of "money" into/out of an economy. Just as nations have "trade deficits" (and surpluses), so too it is a necessary proposition of arithmetic that each year there will be some nations with net in-flows of capital, and others with net out-flows. What is phony here is the lie behind the mythical "current account deficit" of India. As the world's largest importer of gold bullion, each year India has a large out-flow of the bankers' bogus paper currencies and a large in-flow of real money: gold. Obviously you cannot have a "current account deficit" (or surplus) in exchanging one form of money for another. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Jim Sinclair On Today's Gold Price Decline Posted: 13 Dec 2012 08:59 AM PST After yesterday's announcement from the US Fed to continue their bond buy program of $ 85 billion dollar per month, the gold price initially rallied but closed the day flat. Surprisingly, in the Asian market trading session, gold and silver took a dive. The idea that precious metals prices go down right after one of the the most bullish possible events, is highly suspicious (to say the least). That's the type of situation when a real expert needs to explain his opinion. Jim Sinclair commented on today's gold price action. What follows are his wise words :
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| Jim Sinclair: Gold Does Not Need You Or Me Posted: 13 Dec 2012 08:53 AM PST Gold will trade at $3500 and above on its own merits with Eastern demand in the cash market being the engine of price. The Fed via Goldman has capped gold in the paper market for months. They were so obvious between $1775 and $1800 that Petunia can call the strategy. Goldman is, in all practical senses, the Exchange Stabilization Fund because ESF is only a brokerage account. There is no fund in terms of what one thinks a fund's office should look like. Read the law. The President or US Secretary of the Treasury may appoint ANY person or entity to act on their behalf as the manager of the Exchange Stabilization Fund. The Exchange Stabilization Fund has a broad mandate that allows it to trade many things including GOLD. The USA is not the center of the Gold price in the full valuation move into 1980. Right now the geniuses in charge of the ESF are driving gold via the paper market directly into Eastern hands. There is much speculation about the amount of Gold the USA holds and its deliverability as much gold and silver was used in the Manhattan Project and no audit has ever been carried out. The gold price will in the not too distant future go through the cap and that will take it to full valuation above $3500. If you're speculating in gold in futures without at least 20 years of positive history and training as or under a professional you have a financial death wish. If your reason for owning gold and silver is an exchange failure you are fundamentally challenged. The volatility in gold and counter intuitive moves, thanks to Goldman as broker for the Exchange Stabilization fund investor, will migrate back to good gold shares with the real beef. Respectfully, Keep on reading @ jsmineset.com | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Jeffrey Christian: Misunderstood Posted: 13 Dec 2012 08:40 AM PST
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| Posted: 13 Dec 2012 07:51 AM PST December 13, 2012 Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) today announced the maiden National Instrument 43-101 Mineral Resource Estimate on the Coffee Gold Project, Yukon, Canada, of 64 million tonnes grading at 1.56 grams per tonne gold ("g/t Au") for 3,236,000 ounces of gold at a base case cut-off of 0.5g/t Au for Oxide and Transitional material and a 1g/t Au cut-off for Sulphide material. The Company presently has C$16 million in cash and no debt and is fully funded for its planned 2013 exploration program. Images of the block model at various cut-off grades are available on the Kaminak website at www.kaminak.com.
Table 1: Coffee Gold Project NI 43-101 Inferred Mineral Resource Statement at Base Case Cut-Off, and for comparative purposes the 1g/t Au and 1.5g/t Au cut-off is also shown.
"This resource estimate represents a major milestone for Kaminak and highlights the deposit quality and ongoing exploration potential of the Coffee Gold Project," stated Rob Carpenter, Kaminak President & CEO. "At a discovery cost of approximately $15 per ounce gold, we have advanced Coffee from initial discovery to a +3 million ounce inferred resource in a little more than 2.5 years. The drilling strike rate and continuity of the mineralized structures at shallow depths show that our strategy and targeting technique, that is drilling gold-in-soil anomalies, is highly effective in this geological terrain. Based on the surface footprints of currently known gold in soil anomalies, Kaminak geologists see considerable expansion potential along strike from the current resource and elsewhere on the 150,000 acre Coffee Project. We are preparing to continue with our aggressive pace of exploration in March 2013 and, given that the initial column leach metallurgical results suggest that the oxide mineralization may be amenable to heap leach processing, plans are also being made to undertake a comprehensive metallurgical testing program and commence preliminary economic studies in 2013." Depth Profile of Oxide & Transitional Resources
Metallurgical Gold Recovery
* The Supremo Transitional/Deep Oxide sample is visually representative of gold mineralization at Supremo in the range of 150 to 250 metres below surface; however, it should not be considered representative of all Transitional mineralized rocks at Coffee. It is assumed that the Transition zone recoveries will vary based on the relative proportion of oxide and sulphide material in the sample. Coffee Gold Project Inferred Mineral Resource Estimate Model Parameters
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When it comes to the precious metals marketplace, no one is more controversial than Jeffrey Christian of CPM Group. He is extremely bright and has an incredible grasp of the metals markets and economic history. When he's not duking it out with GATA or making predictions about the decline of gold and silver prices, he's running CPM Group, a large commodities operation in New York. Some people believe that he's the front man for the elites and others believe that he's part of the gold cartel. But as always the truth is much more complex. He makes a convincing case for why markets are behaving in very dysfunctional way, however, we take issue with his explanation of why precious metals get slammed every month around the time the Non-Farm Employment report is released. You be the judge.
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