May 21, 2018 
 Monday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By REAP

08/08/2012  9:54AM

Analysts at Goldman Sachs, whose views on commodities are regarded as highly influential, today reiterated their 12-month gold price target of $1,860 an ounce: 'As we expect gold prices will continue to be driven in large measure by the evolution of U.S. real interest rates and with our U.S. economic outlook pointing for continued low levels of U.S. real rates in 2012, we continue to recommend long trading positions.'

Also, broker Credit Suisse raised its 2012 gold price forecast to $1,850 an ounce, saying the metal, as a clear beneficiary of the uncertainty and dislocations in financial markets, has further upside with the crises set to continue.
 By bluejay

07/31/2012  3:00PM

Gold $1614.70 DOWN $7.20
Silver $27.98 DOWN $0.20

The current daily gold chart is linked below:

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

Gold continues to be within a resting phase. During this period the reaction bottoms have been rising while the 1640 area appeats to be its present resistance level. This pattern has etched out a right ascending triangle. In all probabilities prices should break out through resistance and head higher.

In the meantime, expect continuing attempts by the paper miscreants to effect the market lower with more and more promises based on nothing more than the blind faith by ignorant people for them to deliver physical gold. Once this gig concerning paper versus physical gold is up, the prices that you have been following in past months will in the future be at the lower end of an historical chart that will be displaying its future prices at numbers that will amaze you.

In the futuue, your wealth will be commonly denominated in ounces of gold you physically control with the paper promises only being mentioned in history books as the financial devices that were created by bankers to suppress gold values for their own selfish ends.
 By bluejay

07/26/2012  12:41PM

Gold $1617.00 UP $12.20
Silver $27.55 UP $ 0.21

Jim Willie, again, spells out what's happening today with commercial gold storage and the big banks and it's not pretty.

http://news.goldseek.com/GoldenJackass/1343246400.php
 By bluejay

07/26/2012  10:54AM

The desire of gold is not for gold. It is for the means of freedom and benefit.
–Ralph Waldo Emerson
 By bluejay

07/20/2012  9:59PM

The following link to an interview on King World News may shock you concerning gold:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/20_London_Trader_-_The_LBMA_Gold_Price_Fixing_Scheme_Is_Over.html
 By bluejay

07/19/2012  6:27PM

"One of the best ways to stagnate in the mining industry is to stop exploration"

Rob McEwen
 By bluejay

07/19/2012  6:04PM

Check out the current editorial by Jim Sinclair at jsmineset.com concerning his fired up attitude relating to the out of control crooks in our industry depressing share prices and what he is doing about it and his challenge to us.

Below is a response to the article from a poster at the Canadian Agoracom.com website's forum section:

posted on Jul 19, 12 07:22PM

Gold Industry CEO's should and need to fight back and soon. Another view of the shenanigans!

"Chris Powell, Secretary and Treasurer of the Gold Anti-Trust Action Committee (GATA) told Bernie Lo on CNBC Asia that central banks are continuing to manipulate the gold market as they are interested in supporting government bonds and the dollar and keeping interest rates low While buying as much Gold as they can on any weakness.

Further evidence of rising interest in gold is seen in the fact that due to the increased flow of gold bullion into Switzerland, the most respected depository, Via Mat International, is currently adding capacity to their storage facility. Powell also warns about "paper gold" and says that we "try to persuade investors that if they are purchasing gold, they had better get real gold - the metal. They should not get "paper gold" nor keep it or real gold within the confides of banking system."

He further asserts that "there are huge naked short positions in gold" and estimates that perhaps "75% to 80% of the gold that the world thinks it owns does not exist and is just a claim on a bullion bank that is underwritten basically by the British and American FED's."

Cheers, Mark
 By bluejay

07/17/2012  8:39AM

(Kitco News) - The amount of new gold discovered has not kept up with the current pace of mine output, as the easy-to-reach gold deposits are being depleted, said a mining consultancy group on Tuesday.


From 1997-2011, there have been 99 discoveries of gold deposits containing at least 2 million ounces of the metal, totaling 743 million ounces of gold in reserves, resources and past production as of the end of 2011, said the Metals Economics Group in a research report.


“Assuming a 75% resource-conversion rate and a 90% recovery rate during production, these 99 discoveries could potentially replace only 56% of the estimated gold mined during the same period, if they are economical to mine,” they said in their report,

“Strategies for Gold Reserves Replacement: The Costs of Finding and Acquiring Gold.”
The challenge for producers is “not that there is no gold left, but that all the ‘easy’ gold has been found,” they said.

The total amount of gold in reserves and resources at development-stage projects on a global scale roughly matches current mine production. “However, with increasing risk of political, regulatory, and tax instability in many resource-rich nations, declining grades, rising costs, and dramatically longer development times, the amount of gold available for production in the near term is likely far less than has been found,” they said.
 By bluejay

07/03/2012  9:42AM

Gold $1621.90 UP $25.00
Silver $28.30 UP $ 0.78

For the past few months gold has been etching out a possible short term bottom in the $1530 to $1540 zone. With a last of $1621.90 the metal has vaulted past its 50 day moving average line on the chart at $1601.66, this is all positive. The best case scenario for a possible short term directional change higher would be for gold to stay above the $1600 mark.

http://stockcharts.com/h-sc/ui?s=%24GOLD
 By bluejay

06/15/2012  9:49AM

Gold - broaden your horizon.

http://www.martinarmstrong.org/files/Why%20You%20Should%20Buy%20Gold/index.htm
 By bluejay

06/13/2012  7:49AM

Gold $1621.80 UP $12.00
Silver $29.07 UP $ 0.10

It appears gold has done some important chart work in the $1530 ro $1540 area and it may be enough to halt this intermediate downtrend.

We'll see.
 By bluejay

06/01/2012  10:28AM

Gold $1621.10 UP $60.90
Silver $28.55 UP $ 0.84

Better late than never!
 By bluejay

05/29/2012  9:32AM

The link right below is to a daily graph clearly showing how the miscreants take gold down hard and fast to scare the pants off of you.

http://www.kitco.com/charts/livegold.html

It's amazing but true, as the Euro gets taken down inversely the dollar strengthens and conversely gold is pressured but always with help from the anti-gold camp. Sadly for gold holders, the dollar does look higher on this current move.

Just another buying opportunity.
 By bluejay

05/27/2012  5:33PM

Late Sunday market in Asia

Gold $1577.40 UP $3.70
Silver $28.69 UP $0.16

An independent source speaks of gold's possibilities:

http://www.martinarmstrong.org/files/Gold%20Outlook/index.htm
 By bluejay

05/25/2012  9:26AM

An excerpt from an email sent into Mineweb - author unknown

Since then there has been much speculation that China could be building up its reserves at a rate of four or five hundred tonnes a year or more given the level of domestic gold production and the big surge in imports seen. Although China is the world's sixth largest holder of gold, the metal only represents a tiny 1.8% of its reserves and there have been a number of presumably government approved (is there anything else in China?) statements by officials that do suggest the nation is carefully buying on dips in the gold price so as not to create disruption in a relatively orderly global gold market.
 By bluejay

05/20/2012  8:10AM

Gold $1592.10 UP $17.80
Silver $28.72 UP $ 0.67

Gold rebounded smartly early Thursday following the Fed's assessment more easing may be necessasry while closing strong on Friday.

In the background is the mounting JP Morgan expanding derivative losses, now approaching $5 billion up from original estimates of $2 billion, along with, apparently, a collapsing banking system in Spain which could effect banks worldwide if depositors continue withdrawing their funds.

Recent comments below are from David Nichols in a recently published article "Manipulated Markets Can't See The Future" that appeared at the kitco.com website:

"My theory is essentially every financial market is currently not experiencing proper price discovery, due to massive manipulation by central banks. This is especially true for bond markets and currencies, and by extension, gold. After all, what is quantitative easing other than the Fed intervening in the bond market to buy bonds? And they are an unnatural buyer. They don’t buy to capture profits or hedge existing positions, as market participants are supposed to, and they aren’t using currency backed by labor and savings – they are, quite literally, using “monopoly money” of their own creation.

My theory is essentially every financial market is currently not experiencing proper price discovery, due to massive manipulation by central banks. This is especially true for bond markets and currencies, and by extension, gold. After all, what is quantitative easing other than the Fed intervening in the bond market to buy bonds? And they are an unnatural buyer. They don’t buy to capture profits or hedge existing positions, as market participants are supposed to, and they aren’t using currency backed by labor and savings – they are, quite literally, using “monopoly money” of their own creation."
 By bluejay

05/16/2012  7:07PM

Here is the article by Armstrong that speaks of gold's current trend:

http://armstrongeconomics.com/693-2/2012-2/mirror-mirror/
 By bluejay

05/16/2012  2:30PM

Gold $1539.30 OFF $5.00
Silver $27.19 OFF $0.53

The person that has called the gold market correctly, all along, has been Martin Armstrong. In past entries many professional opinions have been submitted but none with the lasting correctness of Mr. Armstrong.

It would appear to be good advice for readers to keep reading Mr. Armstrong at http://www.armstrongeconomics.com.

Mr Armstrong's current thoughts are based upon weekly closes in the metal. He see the weekly close below 1599 as a strong indication that gold will next test 1522. If 1522 gives way. the next stop is 1310.50

For the short term if this month and June remain weak there is a chance of a rally in July. If we don't get the July rally then the August/September time period look to produce a good rally.

Aside from the above, gold remains in a bull market with the current protracted weakness still in force. It seems Jim Sinclair was right when he stated the swings would be wider for the metal going forward. I cancelled an order to buy gold coins at 1588 and I am in no hurry now to get more. The lower gold goes, the more I will be able to buy later.
 By bluejay

05/15/2012  7:36PM

Gold $1543.40 OFF $13.10
Silver $27.66 OFF $ 0.52

Gold and silver are weak when they should be strong for two big reasons: Greece is on its way to pulling out of the Euro and sticking it to the banks who most likely got them into their financial mess and the derivative implosion at JP Morgan. When Morgan states they may have a $2 billion loss you better believe it runs deeper and most likely extends to a broad amount of institutions.

So what do our leaders do to keep the public calm? Act like all this is positive by dumping more and more paper gold. One wonders what the Chicago Mercantile Exchange's books look like at their Comex devision with all this suspected paper dumping of so-called gold.

The whole illegal affair is a paper game of betting, minus the physical metal at commodity exchanges. The New York gold market today is no different than the "bucket shops" of past where betting was being done on which direction a security would go next minus the certificates. If enough bets were down, these too effected the physical shares. What a racket.

This manufactured drop effects honest people in a big way: shareholders, holders of physical coins and jewely plus the coin dealers inventory which they must sell at lower and lower prices to buyers. In order to hedge their inventory, dealers are forced to sell short the metal probably at the Comex adding more pressure to gold.

The banks, the bullion banks and the hedge funds are all suspected of dumping paper gold in mass with the blessings of the boss. The sad matter of fact is that China is buying elsewhere everyday and we are the laughing stock. In the end when physical should be delivered at the Comex, the US public will get stuck with the bill again as these entities will be bailed out by our representatives acting in our best interests but no physical will change hands.

This is a new trick of the metal exchanges: you don't have to deliver physical but must make up the loss plus an additional subjective premium to the buyer to be determined by the exchange later. Feel like a hostage, I do.

These people are temporarily, because they'll ever really win, ruining the investments in the mean time in our sector and in the process, we get doubled billed by the operators of rigged casino.
 By bluejay

05/10/2012  6:58AM

Gold $1598.20 UP $8.80
Silver $29.38 UP $0.11

Comments below are Stephen Leeb's from an interview yesterday at King World News:

“You are going to have a lot of currency devaluation. You are also going to see massive inflation. Everybody knows what that means for gold.

So you are in the last hours of turbulence for the gold market (to the downside). Once this correction ends, you are going to have a barnburner to the upside. Gold will just vault. I don’t think investors will even remember these frustrating days. I had been warning we could see this drop in gold because of the problems in Europe, but investors should take advantage of it.

Look at what China is doing. China is buying gold hand over fist right now. They are going to move the yuan forward as the world’s reserve currency and it’s going to be partially backed by gold. The world can also expect to see a gold standard imposed on Europe in the next 12 to 18 months.

The junior gold stocks, the ones with honest to goodness reserves which have not been developed, they will see one of the greatest, if not the greatest bull market of all-time.

But many of the big stocks have become like dinosaurs. Stocks like Newmont and Barrick don’t have enough gold in the ground. So what’s bad for Newmont and Barrick, is incredibly good for gold. We are sitting on the cusp of what may be the greatest bull market we’ve ever seen in our lifetimes.”

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