November 23, 2017 
 Thursday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By REAP

01/17/2012  1:25PM

Bluejay, here's some very interesting statistics reported by Price Waterhouse PwC:

Eighty percent of gold company executives expect gold to continue rising in 2012 and a majority says it will peak at $2,000, according to the results of a new survey by PwC.

PwC’s 2012 Gold Price Report surveyed companies representing 26.5 million ounces of gold mined in 2011, and 37.75 million ounces to be mined in 2012.



AND


PwC calculates a total of 544 gold acquisitions were made in 2011 at an approximate value of $11.2 billion. As of November 30th, the M&A volume increased 12.6% from the same period last year but the value dropped by 38.4%.


This M&A activity might suggest that a Private Placement of stock with some mining companies could be a viable way to go.

Ron
 By bluejay

01/09/2012  11:15PM

Gold $1620.20 UP $9.20
Silver $29.13 UP $0.08

Interesting gold facts:

http://www.numbersleuth.org/worlds-gold/
 By bluejay

01/07/2012  9:49AM

Keeping your eye on the ball

From Bob Chapman:

) History. For 30 centuries, gold and silver have held the monopoly as the only real moneys and “World Reserve Currencies”.
During that time, there’ve been numerous attempts to install fiat monetary systems. But every fiat currency in the past 3,000 years has collapsed—usually within 30 to 60 years from their inception. The fiat dollar is already 41 years old. If history repeats itself, the fiat dollar must also collapse. Until that collapse, the price of gold denominated in fiat dollars must rise.
 By bluejay

01/04/2012  4:32PM

The following are excerps from the article "Gold To Be Bold In 2012 With Its Own Contracting Fibonacci Spiral" spoken by David Petch on January 3, 2012:

Adding together the sum of parts( of the Contracting Fibonacci Spiral), the price of gold will move up in price in 2013, 2016, 2018, 2019 and 2020, with each subsequent leg moving less in percentage terms than the prior move.

Gold advanced 4 foldish from 1999 until 2008 ($252/ounce to $1046/ounce). This suggests that gold should top out below $4000/ounce over the course of the next year (Personally, the highest I think it can reach is $3074/ounce). The price of gold is likely to top out near $7-10,000/ounce by 2020, but each advance will be lower in percentage terms of the former leg.
 By bluejay

01/04/2012  11:06AM

Gold $1614.90 UP $11.30
Silver $29.22 DOWN $0.49

Go to:

http://www.bobchapman.blogspot.com/ and listen to Mike Maloney's thoughts concerning the precious metals.
 By bluejay

12/29/2011  12:31PM

Gold $1548.00 OFF $8.30
Silver $27.47 UP $0.32

The metals have recovered from early morning lows where Gold hit $1522 while Silver traded nearly at $26.

Even though, for the moment, the bankers and the central bank miscreants manipulate the precious metals lower to make their power thrones more comfortable, it is imperative that future financial survivors add to and maintain their positions.

In retrospect, here are some wise words from Martin Armstrong delivered in a July 13, 2011 article concerning gold:

The key area to watch for year-end will be last year’s close of $1421.40. A close below this area would imply a retest of support for 2012 before a surge back to the upside. A close ABOVE this level will warn that 2012 will produce a new high, but we could then retest support for up to two years into 2014 and rebuild again with the high being extended even further out most likely into January 2020. That would be forming at an astronomical new price level depending solely upon the monetary system. The dollar as we know it will disappear. The default will involve a new currency swapped for the old as was the case with the Continental Currency when the US was formed. That was Europe’s problem. They retained the old debts, revalued them with the new higher currency the Euro, and now wonder why Greece, Italy, Portugal, and Ireland are in trouble? Hello! Does anybody understand currency?
 By bluejay

12/22/2011  10:52AM

From yesterday's International Forecaster:

"The big ultimate question is, who will bail out the US? The answer is no one and that is why ultimately there will be a meeting of all nations, which will revalue and devalue all currencies against one another and have a multinational default and debt settlement. That means everyone gets to pay some of the losses, except of course those who own gold and silver related assets. All the elitists know that they can monetize money and credit only for so long before hyperinflation takes place. Thus, there will be an end game."
 By bluejay

12/18/2011  10:46AM

A few recent thoughts from Jim Sinclair:

Gold is the most manipulated market on the planet. Painting charts to accumulate has been a fact since 2003. China is a master painter of the world cash gold chart. That is why in this entire gold bull market every major up move in gold has been proceeded by a horrid technical formation or break that reversed out of nowhere.
 By bluejay

12/17/2011  11:30PM

"All major US, UK and European banks are broke and they are staying alive by using inside information, which puts them on the right side of every trade." Bob Chapman
 By bluejay

12/16/2011  12:24PM

Gold $1594.70 UP $24.00
Silver $29.51 UP $ 0.23

The following startling excerpt was just recently made available concerning gold by Martin Armstrong in his dated 12-15-11 artile entitled, Whats's Up With Gold:

"The weekly closing below $1605 will confirm what is coming down the pike. There just has to be a cleaning out of tired longs who have been sitting there counting their profits like chickens based upon unfertilized eggs. All the indicators have been warning that a correction is
coming. The fundamental mantra
about fiat currency is getting old. The market is poised for retest of the 1225-1325 area going into 2012 which is the key support.


So, what to do? Although, Jim Sinclair says gold is poised to move higher and above $2000 and Bob Chapman's call to continue buying gold and silver in this continuing down phase due to international expanding debt problems, one has to wonder.

Since Martin Armstrong first alerted readers of expected downward pressures in the price of gold to develope right around Labor Day when the metal was much higher, it is expected with his high batting average compared to the other two that the odds favor his continued success.

The bottom of the monthly ascending channel line now stands at about $1400. It is possible for this line to be temporarily breached and still remain long term bullish.

Now, instead of buying gold coins down every $50 I've change my plan to purchase them down every $75 from the preceding purchase.

It appears if Armstrong is correct in his technical analysis of gold that the naked short selling wrecking crew element will be pressuring lower the gold and silver related companies. So, be prepared.

For every gold party there is always a price to pay. We are just now in the midst of the hangover session. During this period there will be opportunities and it is fully expected China will take full advantage of all of them by adding to their growing hoard.
 By bluejay

12/14/2011  8:02PM

Gold $1571.40 OFF $59.50
Silver $29.02 OFF $ 1.82

We are reminded by the media on an hourly basis during this sell-off that it's all over for gold. Well, that's the theme they're trying to sell us and scaring some people in the process. Some folks are not getting scared but are really excited about lower gold prices, these are the Chinese.

China holds about 1% of their reserves in gold. Their expressed interest is in building up that percentage to 10% which is equivalent to three years of world gold production. Where's that gold coming from?

The Chinese do have some consideration for price but it is supected they are more interested in building up their holdings in a slow and methodical way. It is believed that prices have been somewhat restrained from advancing by them awaiting Europe to unload their gold reserves.

It looks like the European Central Bank is being set-up to sell their gold reserves at a rediculously low price, closely following in the footsteps of what dum-dum Gordon Brown did to his country when gold was under $300. And as I remember, Gordie made the case for going into a small basket of currencies and selling gold far superior than holding a dust accumulating asset that had no return. What a buffoon!

The media is full of weirdo's, that just don't want to get it, one of which is Dennis Gartman http://www.theglobeandmail.com/report-on-business/top-business-stories/dennis-gartman-out-of-gold-proclaims-death-of-a-bull/article2269368/ and another is Jon Nader from kitco.com. Beware of these people and their out-of-touch ideas.

Sure, gold could go lower but this is only a temporary pause within a powerful bull market. Aside from naysayers attacking gold, it is still the safest assset class as long as you have physical possession of it and don't trust someone else to hold it for you. The recent negative events surrounding MF Global is a game changer in allowing someone else to hold any part of your wealth.

As mentioned, I've been in the market acquiring gold coins on this spell of weakness. Seems odd that the Southern California coin dealer I use has extremely limited supplies of Mexican 50 Peso gold coins along with others.

I just read the following tonight from a Warren Bevan's report in kitco.co from a few days ago entitled, Gold Shortages Are Real:

The fact that large gold buyers are having trouble acquiring physical is encouraging though, as a major miners CEO was interviewed this past week he told of large buyers contacting the company directly in hopes of buying physical gold from the company and skipping the now dodgy futures market.

This is a major shift and speaks volumes about the lack of trust in the futures market now after the failure and robbery undertaken by MF Global.

This current cascading gold market is just searching for a bottom. Where is stops in time and price is anyone's guess. If gold is off another $50 or so tomorrow I'll be back on the phone.
 By bluejay

12/12/2011  8:12PM

Tonight from the Casey Daily Dispatch:

Bottom line: We believe that a mania of epic proportions still lies ahead(for gold). No telling exactly when that train will leave the station, so we want to get on board now while the market is weak and prices are low. However, we also don't want to go all in, not because we're concerned about the eventual end game for this market, but because we want to have cash to deploy at lower prices before the mania, should a much greater correction give us the chance to do so.
 By bluejay

12/12/2011  7:49PM

Gold $1655.00 OFF $32.30
Silver $31.01 OFF $ 0.35
U.S. Dollar 79.55 UP 0.60

Selling down below symmetrical triangle support at $1675 on the surface normally would be negative but with so many orchestrated manipulations in the gold market by fiat based central banks, one has to weight in the miscreants hand at chart painting.

It's been beneficial for many experienced market participants in the past to embrace the fear that is brought to them with declining markets. Jim Sinclair said a few days ago that gold will lash around within 300 and 400 dollars during this bull market and you should be prepared.

The bottom line according to Jim is, buy the declines and sell a little on the good advances. If you get scared out of your gold on declines you will be on your own later and will be the pavement for the keepers of gold.

I purchased two Mexican gold coins today below gold's price on eBay. Tomorrow, I'm thinking of buying a few 50 Peso coins from golddealer.com.
 By bluejay

12/12/2011  12:43AM

Gold $1687.30 OFF $24.00
Silver $31.36 Off $ 0.87
U.S. Dollar 78.95 UP 0.36

Gold got dive-bombed twice tonight(from 1710 to 1693 & from 1691 to 1680) as the Dollar keeps creeping higher. The Dollar looks to continue its short term strength into the vicinity of 81.50 to 82.

Gold's ascending wedge line support remains at 1675 with its next support in the $1600 to $1610 area, aided by the ascending 200 day average at 1611.62. It wouldn't be a surprise to see $1600 give-way followed by a final fast slap ending this bull market reaction that began above two $1900 plus closes in late August and in early September.

Tomorrow appears to be a good time to start another scale down gold-coin-buying-program.

The most competitive prices around are quoted at http://www.golddealer.com out of Inglewood, California. No taxes and shipping above a $2000 plus purchase.
 By bluejay

12/10/2011  3:06PM

REAP, good work.

Friday's close.
Gold $1711.30 UP $5.50
Silver $32.23 UP $ 0.57

From today's International Forecaster:

"Something very unusual happened today(12-08-11). We have been saying the same thing since 1988, but we are called conspiracy theorists. Deutsche Bourse owned Market News reported that the BIS, Bank for International Settlements, the Bank of England and the Federal Reserve were selling gold in unison in order to manipulate the price of gold lower. There you have it subscribers – the gold and silver markets are being manipulated."

The above is in stark contrast to the fairy tale reporting that the media constantly serves up to us.

In early Thursday world trading gold was selling at about $10 higher at $1757 when the Comex opened for business. Shortly afterwards, the rug was pulled out from under the metal and within an hour it was taken down to $1718. On the day gold lost about $36, closing at $1705.80.

The inside reporting by the Deutsche Bourse is just part of the story that routinely takes place in markets these days. Bloomberg recently did a story depicting all the phone calls that acting Treasury Secretary, Hank Paulson, made to his banking buddies disclosing, most likely, inside information of the governments intentions before the fact.

And then there's the free pass for our representatives to trade on inside information for profit, no crime here. It was reported that Dianne Feinstein made one stock trade this year using inside information that resulted in a million dollar profit for her.

Makes you wonder, why we don't get our piece of the pie? The obvious answer is, we're the patsy and the gouging is intensifying.
 By REAP

12/09/2011  12:39PM

Howdy BlueJay! The Bull Market is everywhere! I saw this report and it gave me the answer to my trading question from a while back.


“With these gold rings I thee wed… bullion hits record high in rupee
MINING.com Editor | December 8, 2011
Gold today (Dec 8) rallied to an all-time high of Rs 29,540 per 10 grams in the bullion market here by adding Rs 240 on the back of marriage season demand amid a firming global trend. In the world’s second-most populous country, the Indian wedding season runs from October to November. At its height, there can be up to 15,000 weddings each night in the City of Dehli alone.”


My Trading question was: Is the gold commodity vs foreign exchange market Efficient?

Today, Dec 9 Gold in Dehli is 29,560.00 Rupees for 10 grams. Gold is also at $1,716.45 per ounce which means that 10 grams gold = $605.46. At today’s rates $605.46 = 31,432.46 Rupees. So, if I take $605.46 and convert into Rupees I will get 31,432 RS. I can then use these Rupees to buy 10 ounces of gold and have 1872 RS left over. Finally, I convert RS back to $ and find that 1872 RS = $36.06 - a 6% arbitrage profit!

Now of course there are transaction fees to pay on all this dealing so it isn’t likely to make much net profit. But on a typical day when the gold price spikes somewhere in the world the currency markets do not respond instantly. This seems to answer my question. There is a time delay INEFFICIENCY in the commodities and foreign exchange markets. How ‘bout dem apples? (I am in TN)
 By bluejay

12/08/2011  6:53PM

Gold $1713.50 OFF $29.20
Silver $31.77 OFF $ 0.76

Gold continues to be in a defensive posture within its daily trading transitional phase following highs above $1900 twice in mid-August and again in early September. The current parameters during this period are contained by rising bottoms and declining tops. Today's support from rising bottoms comes in at $1675 with resistance expected at $1765. Both these numbers are converging while squeezing and and compressing the formation which creates energy build-up for gold's next escaping move which is expected, one way or the other within a period of weeks.

http://stockcharts.com/h-sc/ui?s=%24gold

Gold one ounce coin sales at the U.S. Mint have taken a dive last month compared to the previous month. Does the public have enough for the moment? Does everyone believe that the Fed's dollar injection to the ECB solves their problem? This may invigorate and return confidence back to the Euro but for how long with most Euroland banks lacking solid unimpeachable short term reserves?

In the following editorial by Jon Nadler(the perennial gold bear)from kitco.com he starts talking against gold as usual. Many gold-bugs view this writer as a hired gun of the cartel.

http://www.kitco.com/ind/Nadler/dec082011.html
 By bluejay

12/05/2011  12:02PM

Gold $1721.50 OFF $23.80
Silver $32.12 OFF $ 0.52
(Silver sells below 50 day average at $32.50)

Gold being lower is no surprise, just cosmetic tinkering with price probably with the selling of Gaddafi's stolen gold. The urgently needed $1 trillion realistic Fed bailout for Europe has to look like "mission completed," so gold gets beaten down. In fact, $100 trillion is needed to clean up EU's real financial mess. Where's that wealth coming from? Portugal has already mirrored that answer for all to see with the taking from their citizen's pension fund accounts.

From http://www.jsmineset.com:

"Alf Fields is right when he says “Once this correction has been completed, Intermediate Wave III of Major Three will be underway. This should be the largest and strongest wave in the entire gold bull market. The target for this wave should be around $4,500 with only two 13% corrections on the way.”

Concerning future declines in this market, when gold trades at $3000, a 13% retreat would be about $400. So, prepare your nervous systems.
 By bluejay

12/02/2011  12:26AM

Asian prices
Gold $1744.90 Down $0.40 from NY close
Silver $33.07 UP $0.34 from NY close

Silver has pushed above its 50 day average at $32.56. Gold is having trouble higher up at $1750.

Coordinated efforts by world central banks dump large amounts of money into the system to save the world economy.

http://www.martinarmstrong.org/files/Intervention%2011-30-2011.pdf
 By bluejay

11/29/2011  2:55PM

Gold $1715.40 UP $5.50
Silver $31.92 OFF $0.14

The educational interview with Dr. Edwin Vieira concerning Confiscation and the Constitution linked below is quite interesting.

http://goldsilver.com/video/goldsilver-radio-dr-edwin-vieira-confiscation-and-the-constitution/?utm_medium=email&utm_campaign=GoldSilver+-+11292011&utm_content=GoldSilver+-+11292011+CID_a2dbcb19e87d68afbfb7c2836887039b&utm_source=GoldSilver+Email+Marketing&utm_term=Listen+to+this+interview

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