Stacy Summary: Jibber jabber about gold. My view is that the market would not have responded as it has done this morning if it were not of any consequence that oil should be priced in dollars. Whether or not Fisk’s report is accurate, however, is another matter.
Price updates: 1036.30, 1036.60, 1036.80, 1043.20, 1038.90
Place your bets: At what price does profit taking begin, ie, how high does it get today? And what will the closing price be? And for the bonanza bet, at what time does it hit its high today?
  |
 |
 |
Most recent: 
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
151 thats me
5am here in canada, oct. 7th.
Gold is looking to hit 1,050… Where the hell have i been for a while. It took ages to hit 1000, now its lifting off like a bat out of hell.
i think today it will top out at 1071.
I said it would top out at 1040
I took some profit back at $1020 already. Sold a few bullion that I paid for most money for. But no way will I sell the rest off, unless gold hits like $5000. But I was kindda surprised that it went higher. I was expecting it to drop back to $950ish area for a few weeks and then spiking up again. I don’t think it can go any higher now, unless there is a huge event that causes the market to panic. May be the new normal level will be above $1000.
@Bob Thaler, you must be old. Good call on Eddy Haskell I thought I was the only one to think of him as prototype-psycho.
My guess
US AVG HOUSE PRICE == 5 TROY OZ
timewindow is around 7 years, aka one accounting cycle.
I am not going to be more precise than that as using numeric parameters is utterly pointless when you have as one of your parameters a currency that is 95% subseptable to high inflation and 97% subseptable to hyperinflation.
Testing.
There’s no fat in the health care industry?
Maybe they should also check DME’S, Home Health Agencies, Doctors with soft $ kick backs, cross ownership, nursing homes, too…..then go talk the insurers about their premium pools they divvy up every time they refuse a referral..
Get rid of the waste and everyone will be served better….not as much easy money but hell we’re talking peoples lives…
Today’s Mafia: Medicare Fraud – Less Risk, More Reward
http://www.thestockmasters.com/node/1744
@Phil: “so we can keep a count of Ft. Knox stash”..good thinkin’…audit ..what audit???? once again u bring to the table the hidden agenda….commoners to the left…elite insiders make the rules
@phil
cheers to you for mentioning her and for the help with the classical music…I have uploaded ‘pony’ which isn’t out on cd yet but the vinyl has been cleaned digitized and sounds good…also if you see anything you like just (log on anytime and) take it…it is supposed to be open to ‘public’…I wish someone would use it!!!
Annette Peacock – Pony (mp3)
http://tinyurl.com/y942jlo
@SG .. Thanks !
@y’all
for the more discerning…here is the FLAC!!!
Annette Peacock – Succubus
http://tinyurl.com/yattog3
@y’all
anyone seen Isis…oh nevermind!!!
Annette Peacock – Succubus (mp3)
http://tinyurl.com/yc73c67
YARR!
I’ma pirate and my guess is 1044.6
Next week 2 Bear Stearns hedge fund mngrs are going on trial:
http://www.cnbc.com/id/15840232?video=1286392299&play=1
How did these 2 unlucky bastards manage to get caught when no one else did? Almost feel sorry for them. NOT!
I predict it will close at 1041.80
@Stacy,……just out of curiosity ,…what’s your novel going to be about?
“Banks and credit unions made an eye-popping $24 billion in overdraft fees in 2008, according to a report released Tuesday by the nonprofit Center for Responsible Lending.”
Rest of article & graph: http://www.huffingtonpost.com/2009/10/05/as-economy-crashes-banks_n_310565.html
Did anyone read that Vanity Fair piece? It’s like the biggest hand job of all time.
Um . . . DNA barcode from IBM, of course
http://www.disinfo.com/2009/10/will-your-d-n-a-be-the-new-barcode/
Readers might like to know that at the website http://www.goldsurvivalguide.com, I am posting in my weekly wanderings column what I trust are accurate summaries of Max’s timely and incisive video interviews with luminaries of the financial and economic world.
Re: Gold,……..An old injun once said to me,..he said,..
“young running water” , (that was my name back then)
when you see the band wagons approaching, run to the hills and don’t look back.
In the business world, the rearview mirror is always clearer than the windshield.
$1200 -$1700 by years end. $2500 – $3000 in 2010.
http://theinternationalforecaster.com/
Well, one thing’s for sure, with each new high a new clown posse appears to pompously proclaim gold’s imminent colapse. It’ll take another breather eventually, but not much of one here.
Some other news today :
US treasury seeks action against Iranian banks
http://www.presstv.ir/detail.aspx?id=107952§ionid=351020104
Turkish Police Fire Tear Gas on IMF Protesters
http://www.nytimes.com/reuters/2009/10/06/world/international-us-imf-turkey-protests.html?_r=1&ref=global-home
Roman Polanski refused bail by Switzerland
http://www.guardian.co.uk/film/2009/oct/06/roman-polanski-bail-refused-switzerland
MSM is a retard on dope
@Frank Hope – Dow Jones Marketwatch has many headline stories on this and they mostly pin it on the Fisk story
@Frank Hope
I have many gold stocks up 80-120% this year
The MSM is saying that the reason gold is rising is because of inflation fears – totally ignoring the Fisk story of a international conspiracy to undermine the dollar. See for example “Gold Jumps to Record as Inflation Outlook Fuels Investor Demand”:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6HmCq6IQClk
Anyway, there is no way to predict today’s close. But I’m looking for gold to hit 1100 by the end of the year – that’s just a 10% increase over today’s price.
Maybe by the end of 2010 it will be 1500. The fact is you could have made lots more money this year by investiong in Brazil or Russia or China or Australia. Some of those funds are up more than 50% from their lows.
But the thing I like about gold is that it is somewhat disconnected from the global stock market performance as indicated by the S&P. The problem is that when the markets start to decline, they all decline in unison. So the whole idea of diversification just gets thrown out the window.
Gold at least moves somewhat independently of those other markets, giving some real diversification. And it will tend to hold up in a real crash which I’m still nervous could happen at the slightest provocation.
@phil
I think she is trying to get some of the rarer parts of her back catalogue reissued via japan..last I heard…you know she married gary peacock of course…I’m gonna post up ‘pony’ later…she actually toured with ‘The Damned’ in the 70′s…very avent garde a clue…the track succubus from same album reall rocks too!!!
make me think of stacy and snoots!!!
http://www.imtheone.net/
@Sherbert: which market is the close price set at???Possibly if/when the Chinese get in..close @ $1020
@SG … Annette Peacock … Great
Yeah, I wonder what she’s doing now.
!!!! Previous article Published: September 14 2009
@phil
just looking back over comments…annette peacock…Dude..Respect…’survival’ DUDE!
Central banks are set to become net buyers of gold this year for the first time since 1998, according to GFMS, the metals consultancy.
This reverses the trend of the past decade when central banks, particularly in Europe, reduced their holdings. Central banks have been net sellers of gold in only seven year since the ending of the Bretton Woods exchange rate agreement in 1971.
GFMS said the gold market stood at a crossroads. On the one hand, if government monetary and fiscal stimulus programmes failed to rejuvenate the world economy and deflation fears increased, gold could fall below $850 by the end of the year as investors returned to the safety of the US Treasury market.
On the other hand, dollar weakness and rising inflationary pressures could drive gold higher.
This was in spite of the fact that jewellery demand this year was likely to be the weakest for two decades after a drop of almost 25 per cent in the first half of 2009.
Worries over an imminent correction have mounted after the largest weekly increase for a decade in bets that prices would rise. The net long position held by speculators stood at a record 29.02m ounces for the week ending September 8, up 6.4m ounces, or 28.3 per cent, on the previous week, according to the Commodity Futures Trading Commission.
UBS said the net long position probably rose further last week.
On previous occasions when the long position has risen by more than 6m ounces in a week, said John Reade, precious metals analyst at UBS, gold prices fell 5.1 per cent on average over the following four weeks.
Mr Reade repeated his forecast for gold to drop to $950 in a month and advised “nimble investors” to take profits and re-enter the market after a correction.
From: Central banks set to be net gold buyers http://tinyurl.com/y8qkrff
@All – I notice that France still has not issued a denial of Fisk’s report
Correction, omitted the zeros.
High $1,049.50 at 12:20 EDT
Close $1,042.00
Very curious when the Centrals will bug down gold again. They wonna keep it under 1000 wraps is my feelin.
The Source: “Age of oil” over? http://bit.ly/dwE6P
New Robert Fiske Video .. Must See
http://www.youtube.com/watch?v=CBDPGkW6SCU
@Mother … where have you been ?
Too many YT videos ? ..or the perpetual motion invention ?
BTW .. I guess the next Goldprice competeion has to be “when” for 2000$ now !
PS:
I would wait until EOWeek before using that 2000$ price target !
;-(
those hapless idiots chasing miners on this boner run will be torched at tommorrows open by some heavy gap down action once Eddie Haskell, our Secretary of Deficits manufactures another bogus sound bite. I only buy this miners junk at lows and serious pullbacks otherwise its like trying to down a bat in a barn at midnight with a sling shot.
@Robert … Timmie who ?
LOL !
the graph is down, wil fix it soon..
@Richard@lattitude30N … “50% gold bullion’…really where did he get that from…”his sources in the middle east and Paris”
Aha .. so it’s “forbidden information” ?
I hope he’s right !
1043.14 $ .
1043
Gold never spikes for long. It trades exclusively off weakness in the dollar. A dollar bounce kills this boner. Intraday it rarely holds high spikes like this so I say back to base at 1020 level by end of day. The Government is watching the price closely. They know my target on wave readings is 1074, they will do a last scene in “On the Waterfront” at these levels. The hoods will come in with clubs and start pounding Terry Malloy down into the grime. Short term. If not intraday then most certainly gold will open tommorrow considerably lower on ‘news’ which will be manufactured courtesy of the psychopath Timmy ‘Eddie Haske’ Geithner.
go to http://www.mygoldprediction.com and place your bets with your excuse
@d3do
re: UFO….I’m still laffin’ brillant!!!
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading
http://silverbug2000.wordpress.com/2009/10/06/the-demise-of-the-dollar/
I guess it’s the West’s NWO versus the Rest’s NWO !
@ Phil I know, I bought some at £680
.
Gold + 26.00 and still climbing bet it hits +50 by days end
The Gold bugs are out maybe for good reason this time
@Richard@… and the other with a RFID chip and valued @ $10,000.00+ per oz.
LOL !
So we can keep a count of the Ft. Knox stash !
@SG ,…nothing better than mint sauce, to help bring back all the nostalgia .thanks !
The US is trapped in a massive zugzwang. They have to take action, but any move they make can only weaken them.
The Iranian war is a heavy driving force behind this. China and Russia are pressuring the US to keep Israel an the leash. However the US is not doing so actively enough and as a result are now threatened with a dollar implosion.
@Phil: “50% gold bullion’…really where did he get that from…”his sources in the middle east and Paris”…so he says…Didn’t Salbuchi from Argentina suggest a two tiered gold bullion…one @ spot for the commoners and the other with a RFID chip and valued @ $10,000.00+ per oz. as a part of a basket of currencies??
@Palantíri … “What makes the traders/investors/speculators jump like this on news of events that may or may not be taking place years in the future? ”
It’s called ; Buy the rumor ; Sell the news !
gold at 140
Trying to look at Kitco spot chart 5 min ago and page still hasn’t refreshed.
My out of the air guess is that Gold could reach 710 Euros…
What makes the traders/investors/speculators jump like this on news of events that may or may not be taking place years in the future? Is it based on the expectation that other traders will buy gold on the knowledge that other traders also will do the same, resulting in an internal hyping of the gold price as we now see? And when they see nobody else surfs this wave they try to sell out before other traders do the same, resulting in a different kind of tiny internal price drop hype…?
Just asking.
I’ve just bin watching a good interview with Fisky,…..seems a really genuine guy,..
http://www.youtube.com/watch?v=jjoGLA4mVxU
I’m usually pretty good at sortin’ the wheat from the chaff!!
Sniff, sniff,..: )
@Max .. you said in RT that 50% of he SDRs will be made up from Gold bullion.
Where did you get that from if I may ask ?
@frances
leaping liz…I mean jumping iguanas…I think we are supposed to use codewords like all the other catalysts types on the internet…also careful… didn’t you know, I see myself as a bit of a chameleon!!!
Gold today on Comex.
High 149.50
Close 142.00
More to come, pro’s are short up the ass, if they have one left.
@frances
186 countries took the money! Sounds like when Paulson locked sound bankers in a room and told them they weren’t leaving until they “voluntarily” took TARP.
So Asian countries were going along to get along during the crisis. In the mean time they are moving ahead with plans to protect themselves behind the scenes. SOunds reasonable to me.
Some headlines on Gold FWIW :
( while the party’s still going )
Gold hits record high while the dollar weakens — why? BloggingStocks (Weblog) 15:26
Gold surges to record high National Post – Financial Post 15:25
STOCKS NEWS AFRICA-S.Africa’s gold miners soar, track bullion Yahoo! 15:21
Gold Stocks Big Bang Part 3 GoldSeek.com 15:20
MarketWatch First Take: Gold floats on oil MarketWatch – Commentary 15:18
Metals Stocks: Gold hits record high as dollar slumps MarketWatch 15:18
Gold floats on oil MarketWatch – Market 15:14
PC Gold expects assay results from Conduit Zone discovery, to start deep drilling on Pickle… Proactiveinvestors – Editorial 15:14
UPDATE: Spot Gold Hits New Record Above $1,032/Oz On Weak Dlr FXstreet – Forex News 15:11
Gold price hits record high of $1,036.60 an ounce Yahoo! 15:07
Gold hits record high as dollar slumps MarketWatch – Market 15:04
etc. etc.
http://www.newsnow.co.uk/h/Business+&+Finance/Gold
@Nic … £652 /toz
I hate to spoil the party, but it was over £700 /toz mid year IIRC !
But hey, the GBP must reach 1:1 Euros soon .. or not ?
Especially if Blair takes the helm !
@Supergeek:
How do you know I’m a people? What if I’m one of the lizard-types Stacey warned us not to discuss?
@Larry:
Here are the two MarketWatch rumour-laden masterpieces:
http://www.marketwatch.com/story/potential-end-of-dollar-based-oil-deals-lifts-gold-2009-10-06
http://www.marketwatch.com/story/gold-floats-on-oil-2009-10-06
@larry the lamb
you talkin’ mint sauce!!!…awstraluns…baaah!!!
@ Dedo you’re on form today.
@y’all
This is supposed to be a gold jabber. What’s that? A peak above 1040. I’m lovin’ it. £652 /toz in real money and counting.
Right, feels like a feeding frenzy on gold. I sold 70% of gld position (long calls) at the open today. Technically gold looks ready for a leg up, but, one never knows ?
The political posturing within US government should boil down to “It is time to take the gloves off”, but do they have a prize fighter? Obama? c’mon………..
@frances
yeah I know.. but…people.. tend to cum if you call !
My bet, we close above last high of 1035!
Also watch silver, it owned gold hard in the run up to this
Go miners go!
@stacy ,…waiter ! please take the story from marketwatch back to the kitchen and ask the chef for some more sauce or sources . so far it’s just all ‘Growing speculation over the potential.. ‘ etc …still no sauce ….. the service here is terrible.
I have read all of Robert Fisk’s books…l put him up there with the likes of Chomsky. He is a journalistic scholar. He is no ones fool…that article today has no doubt created ripples through the out the world markets.
Meanwhile in Latvia . . .
Latvia and SEK (again)
Interesting for the Swedish krone at the moment are the goings on in Latvia, which may be moving toward a meltdown according to sources and some of their latest actions, as they refuse to go all out to introduce austerity in the state’s budget. The broader liquidity and risk picture suggests that the international community might let this one go now, since the contagion risk is lower now that so many believe things are headed the right way. This will inflict significant costs for Sweden, however, and explains why the SEK rally has derailed in recent days. Stay tuned there as the time line may be rather compressed and EURSEK is closing in on an interesting resistance area at 10.37.
http://www.saxobank.com/en/market-news-and-analysis/forex-strategy/pages/forex-trading-strategy.aspx
@Youri,…..I hear they come mostly at night,…..mostly!!
@ war discussion; as I do not look forward to the continual buildup in the war industry and the constant drum beating against Iran/Venezuela and other nations ( NK)…let us remember that the wind direction leads to India;so if any attack on a nuclear installation in Iran were to occur….that is untenable…also the necessary ground forces for an all out ground assault on Iran is not available…and the Pentagon is well aware of this..even if the Straits of Hormuz are closed to Iranian oil shipments ala the Cuban embargo…world leaders wouldn’t tolerate this overt action and might take economic counter measures ( refusing to participate in US treasury auctions) as a detourant(SP?)….also untenable….Max on Russia TV today is well spoken on these geo-political issues…Stop the Madness…more end the WAR marches and end the FED too
@Supergeek:
THERE IS NO NEED TO SHOUT.
@Marietta:
Asia did not tell the IMF to f*ck themselves when the dole of the sdr allotment 250B came on in August: (breakdown by country)
http://www.imf.org/external/np/tre/sdr/proposal/2009/0709.htm
Gold just keeps climbing +22.00 seems like it might go parabolic
$DXY keeps on tanking
@marietta .. LOL
One thing that worries me about Max spouting off like that is …
… they may pile on the Gold shorts just to spite him !
@Youri,…….Of course I wouldn’t,…that’s why it’s called a UFO !!,….silly : )
@max
Please be careful! Stay away from grassy knolls. Does Armani make a kevlar suit?
@stacy
ever thought about upgrading the comments page so one could comment to individual responses?
@ Phil, Youri
So how long after IMF, I mean US, bombs Iran will there be WWIII with Asian?
There was a book written by someone recently were the author was making a long term prediction that US would be going to war again in Asian. Japan would actually be allied against the Us. SOmething about unresolved issues re: WWII. I’ll try to find the reference.
@Max: way to go Max….”single finger, outstretched arm, bent elbow”….now that’s poignant
Dow Jones / Marketwatch:
Potential end of dollar-based oil deals help gold shine
http://www.marketwatch.com/story//potential-end-of-dollar-based-oil-deals-lifts-gold-2009-10-06
Again, I believe the market would NOT respond this way IF it was of no consequence if oil is priced in dollars. Whether or not Fisk’s report is true, however, is ANOTHER matter.
nor trying to be snob ,but i’ve been looking at price history rhodium ,it really fell hard in 2008 look like it may have run its race for the time being , the point being that many other metals have also performed well over last 10 years and perhaps even out performed gold so that is another reason why gold did not fall as much as other metals but even at this price gold is still down 20 % + when measured in price of other currencies like australian dollar ,so it will have to go much much higher just for people who bought in these currencies just to break even , something that is often forgotten as gold is nearly always talked about exclusively in us dollars , even if gold doubles in price unless you have a lot of money i think perhaps there are quicker and easier safer ways to make money though i get the point people are using gold to store the value of their paper money. the thrill of the chase is not for this larry , larry loser not larry legend. but larry non the less.
@Max … are you working for the Chinese ?
Max Keiser: Dollar to be buried way before 2018
@Dedo
Yeah sure :/ You wouldn’t recognize an UFO if it where in your face.
An Helicopter isn’t able to make such huge leaps trough the air and hasn’t have that sudden stop capabilities too.
There’s somtin up and it has to do with nuclear shit, that’s when they come.
@d3do
What do think on the count of three should we both shout FRANCES…really. really LOUD…if you agree just count it off!!!
max on RT today
http://www.youtube.com/watch?v=D7dH4e8HYFA
@Phil: that’s what lattitude30N is about
@d3do
‘kin hell dedo….you know the rule…never explain…it will only make it harder for the rest of us…and it also encourages people to be stupid!!!
@Richard@lattitude30N …” I pine for the pioneer days of old..when a man was a man and women were proud of it…”
Music to my ears !
… where’s my log cabin !
@youri carma: yes, thanx, that was the other bank ( Citi ) with a long forecast on gold…into 2010 @ $2000.00
At some level now that the individual massive amount of fiat currency is steadily all suffering during this current deflationary throws leading to the hyperstagflationary epoch we all(?) see in the not too distant future..the players are keeping the TBTF banks afloat even as the likes of JW and others tell the tale of their insolvency (ie: Ken Lewis of BofA on the way out the door late December) and the market uptick is the creation of a few insider firms’ activities to bolster their continued presence as a market player and give any foundation to the institutional players…wait for the Max/JW interview..I am certain the discussion will include a forecast that all pensions ( ala CALPERS) will become absorbed( nationalized??) to give a foundation under the US government so that it doesn’t receive a below AAA bond rating( and default)…I pine for the pioneer days of old..when a man was a man and women were proud of it…
The daily chart of the $DXY looks like a cardiac arrest. One thing I will say about the dollar it always seems to come back it might be missing a few more front teeth but I doubt it would ever end up like Zimbabwe
Is gold really the big solution? (maybe to end the fractional reserve system and take away the power of banks, but how long til it returns if the financial institutions don’t get bailed out again?) first the market is manipulated like any other, by china setting bottom prices and central banks selling off huge ammounts to paper gold. Second it is only worth what people pay for it; gold seems to be limited but i can think up many other things that are limited as well and so might as well be used as collateral. Third gold mining is done environmental unfriendly; i’m not on the CO2 madness side, but there is some real pollution of the air and waters. fourth the people who make money out of it are the mining companies and brokers/sellers, still the “elite” cashes in. fifth the people who mine the gold, locals or sometimes (imported) immigrants are treated like slaves/get slave wages. sixth the suppose wealth (sort of the IMF) that it suppose to bring the local economy/usual poverished nations end up in the pockets of the corrupt system the only reason for improvement like infrastructure and schools is done by/for the companies employees. Gold has been a reason for war, enslavement for centuries. Beside there is a self interest in promoting buying gold if you own gold. To be some more objective; it could provide a boundry for the fiat currency and make the economy more stable/less booms and busts obvious better choice than stocks or interest over savings, yet since the beginning of this monetary experiment in 1694 i think it has shown that it will never work; the power over money will always lour people in by corruption. In other words if a gold standard returns just a matter of time until the involved people become corrupt and reset the system to fit their own interests (as shown trough history).
@Youri,……A helicopter at night,….cool!!
@marietta
Or in more elogant terms:
“IMF why don’t you go out side and find yourself a place to hide and go F**cK yourself”
Asia Embraces Financial Independence http://tinyurl.com
Bank that BK’s was NOT in the “danger list”
Whoa… Didn’t See THAT Coming!
…Oct. 1 (Bloomberg) — There was a stunning omission from the government’s latest list of “problem” banks, which ran to 416 lenders, a 15-year high, as of June 30. One outfit not on the list was Georgian Bank, the second-largest Atlanta-based bank, which supposedly had plenty of capital.
It failed last week….
http://tinyurl.com/y8tmg4x
( Casey’s Research )
@Photoception
If those really were supposed to be secret talks, would you expect them to openly admit anything before they were finished?
@Dedo
What are you talking about? “‘kin liquidity” ??? If you make a point be clear please?
“Predictions are for Gypsies.”
Punch Imlach, four time winner of the Stanley Cup as coach of the Toronto Maple Leafs.
(John Kenneth Galbraith says it much more eloquently in his 2004 book: ‘The Economics of Innocent Fraud: Truth For Our Time’.)
UFO Hawaii – 10.3.2009 http://bit.ly/2762rS
http://www.bloomberg.com/apps/news?pid=20601082&sid=apt5We30uqlA
Some retard makes up some complete lie, reports it, and moves the global financial markets this morning. Wow.
. . if the Gulf region pricing oil in anything but dollars were no big deal I doubt the market would be reacting to the news like this
On the short term markets are irrelevant. It takes a while to smoothen out panic moves and reveal the shapes of truly important events.
A bit of panic in the market does not necissarily imply longer term relevance.
Besides, I think it is far more likely that the market is facturing in the rising possibility of an Iranian war.
@Phil; agree….regardless of todays/weeks activities in the gold market…IMO gold is a political metal whereas silver since it has more industrial uses is the play…I recently read that since China’s many gold mines produce small amounts they are exempt from accurate production accounting…no one keeps tads on their production…and now they have constructed a vault @ the HK airport to collect all their holdings overseas…the GATA attempts to audit Ft. Knox and now their conversations with the Chinese are setting the world on it’s ear…the soon release/auction/sale of the IMF 403.5 metric tonnes and the FED’s unaudited bullion stockpile will keep the price in check…but these short term upticks IMO are meant to bolster the major players ( ala GS, JPMorgan Chase, Barclays, UBS, etc…) After all the bonus season is upon us…It is unfortunate that the global financial marketplace has become a closed shop..I find finance and the discussion thereof, very invigorating; and Stacy is a better market analyst than we have given her credit..maybe it’s her distance while in London/Paris…
@marietta .. IMF .. nice !
So will the IMF targets Iceland, Ireland , Latvia, UK and Spain next ?
Love this story. All of Asia is telling IMF to go f themselves:
http://www.forbes.com/2009/10/05/asia-imf-funding-business-oxford-analytica.html
RT Gold : http://www.finanslinker.net/dukascopy/gold.html
BTW.. FINVIZ have an excellent (free) stock screener !
http://finviz.com/screener.ashx
@Youri,…..Hate to piss on your fire,…..but central banks have bin flooding the market with liquidity for freakin’ decades,….duh!!
You of all folk, should know how the markets are manipulated, and it’s nothing to do with ‘kin liquidity. : )
Australia raises interest rates.. http://news.bbc.co.uk/2/hi/business/8291968.stm
holysox 1030
TRAILER Ancient GOLD by Me
http://www.youtube.com/watch?v=dyF0DuSococ
@Mongo .. “fun to watch”
I agree ….. most interesting to see what new tricks the FED may come up with.
@Youri .. silver too cheap
Sure it is … it should be at ca. 65$ in relation to the current Gold price. But that old ratio of 15:1 was valid in the days of “coinage” .. whether that is true today in this digital fiat world is probably just a matter of taste, as industrial demand for silver will IMO not rise soon !
HOLYSOX>>>>1037
1037 and going strong
Citigroup says gold could rise above $2,000 next year as world unravels http://tinyurl.com/6glve3
Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world’s monetary system with liquidity, according to an internal client note from the US bank Citigroup.
I rather buy Silver than Gold says Jim Rogers http://icio.us/e0l4oi
oh shucks, 1031 . . . isn’t that one of those magic numbers that the animal entrails say will result in blastoff?
check that, in the time it took to write that it’s now 1033.
@Phil, thanx for your view on this.
This is going to be fun to watch/follow
PS@Richard@lattitude30N … ” didn’t GS forecast $1200 gold????this year???”
Forgot to add …
Remember when JPM was in trouble with a massive short silver position // Hunt Bros.
Well, the FED (JPM) changed the lending rules which made Hunt’s bank call in his credit line – the rest is history.
i.e. What I’m saying is that there is enough “magical / digital paper” out there to short the whole world , let alone gold !
“Russian steelmakers’ acquisitions in the U.S. were all unsuccessful,” said Dan Yakub, a Citigroup Inc. analyst in Moscow who recommends investors sell Evraz and who has a “hold” rating on Severstal. “The management wanted a global business, to get more flags on the map. They overestimated the potential of the U.S. market and underestimated the depth of the price collapse.”
From: Russian Steel Writedowns Loom; Slump Wrecks http://tinyurl.com/y8r9vkg
beware the sucker rally
@Phil,…..I’m a Holywood lad,…but I like puttin’ on the accent now and again,..: )
Gold just breached the all time high.
Look for a pullback here
@Richard@lattitude30N … ” didn’t GS forecast $1200 gold????this year???”
They also forecasted 300$ oil when oil was at 150$ !
AFAIK… Commercial Bullion banks have record short positions on Precious metals while the Speculators are strong long !
Who will win ?
Guess who !
I know you’d get it,….amazin’
http://www.thebulliondesk.com/
……GoldCore Precious Metals Update – Threat to Petrodollar Sees Gold Surge to Near Record Highs….among other articles of interest
BEST GOLD CHARD (JAVA) http://www.goldprice.org/live-gold-price.html
Brad Neely: Bring The Gold (Can get enough of this cartoon clip raely gold) http://www.youtube.com/watch?v=_qO66Rmi1Mw
BTW,….most yorkshire men speak with a “T” prefixing a lot of words ,….in case any of you foreigners didn’t understand,
Isn’t T that Tut right Tut Phil?
$DXY getting hit hard at open Gold is going NUTS
@Phil: didn’t GS forecast $1200 gold????this year???and who is in charge???And yes the shorts and longs probably will balance out the rise in price at some point…my take is it’s still an insiders short term gain move as is yours..
@Dedo .. ” ee ba gum ”
Are you from Yorkshire ?
right on richard
Like Phil said,..don’t be to hasty,..a lot of traders just place market orders above the high,..so a lot of activity is usually temporary…and reverses due to profit taking.
Wait ’till end Tut week,ee ba gum,…: )
just an opinion in he JJ segment: since we mostly all agree that the front running, HFT’a, naked short selling, insider trading and complicity within all the regulatory bodies and judicial oversight.. while the Chinese are cornering every commodity in monopoly proportions… .even as Mr. Barofsky intones, that well, the “banks lied”when they were offered the TARP funds…..where else would sound financial traders put their money than in strategic metals….it’s no longer a hedge against the market moves, it’s the only proper position to hold…
@Mongo ….
IMO, WS banks are looking for short-term quick.cash to bolster their balance sheets, so if they have long Gold positions, they will probably sell into strength – not to mention the large short positions many of them are holding.
My guess is they’ll always find enough “paper” to short gold and keep it down — and if things get out of hand, expect the Crimex to deliver “capped paper prices instead of physical !
@Stacy, You mean investors are selling gold to cover for losses? I am a slow learner but how much impact on gold price are we talking about, is those sellofs enough to stabilize any movement upwards?
Did you get the second version Stacy?
Well, either way, an observation:
The market correlations in 2009 are difficult to work out. Sometimes it just looks like risk on/risk off stuff but other times it’s not clear at all. The Aussie and SGD, for example have gone into the stratosphere, whereas the Euro is finding it hard going. Meanwhile don’t look at Sterling’s chart if you’ve just had lunch.
Gold is outshining them all. I can’t quite figure it all out.
hazzard a guess….end of today 1040ish?
@Stacy ..hope the breakout is real this time.
I am always suspicious when all these Govt. / WB / IMF headlines appear simultaneously !
We’ve seen 1040$ before, so I’m looking for an EOWeek close above this.
One time I bought gold at a new high and was seriously burn
GATA
the questions is how much and how long can you hold…then what will it buy afterwords
@Stacy, The question is… willitblend?
I am really curious how the NYSE and Wall Street will react to this.
crank up the organ grinder ben
@Phil – yes, this will trigger much selling by ‘investors’ who have massive losses to cover elsewhere . . . but it will also bring in a bunch of new investors . . .
BUY TUNA FISH THE PRICE IS GOING INSANE
Eh, ..Always believe in your soul, you’ve got the power to hold, you’re indestructible, always believe in…
@Mongo ..don’t get too excited , the NY “paper” market isn’t open yet !
( although Gold and Metal markets are of course )
@Mongo – yes, gold is going wild; oil is also rocketing . . . if the Gulf region pricing oil in anything but dollars were no big deal I doubt the market would be reacting to the news like this
Gold is going insane.. Ben is going to his chopper
IMF calls China and sais “Buy gold?”
China says “no.. we just bought 22000 tons!”