tag:blogger.com,1999:blog-198505882024-03-13T15:22:10.330-05:00Buy GoldGuide on How to Buy Gold Coins and Gold Bullion.Unknownnoreply@blogger.comBlogger293125tag:blogger.com,1999:blog-19850588.post-59743697024579760432013-09-05T17:02:00.002-05:002013-09-05T17:35:27.304-05:00Why is gold considered so valuable?<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-VfWjqqJOKZ0/Uh_QunXzvnI/AAAAAAAAAys/Gl72fO9Sx0s/s1600/gold+holdings.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="133" src="http://3.bp.blogspot.com/-VfWjqqJOKZ0/Uh_QunXzvnI/AAAAAAAAAys/Gl72fO9Sx0s/s200/gold+holdings.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Why is gold considered so valuable?</td><td class="tr-caption" style="text-align: center;"></td></tr>
</tbody></table>
Gold has had
an alluring attraction for man throughout the ages. Wars have been fought over
it, love has been won by the use of it and merchants have been made wealthy
because of it. But why has gold, almost without exception, been a favorite with
men and women over the years?<span style="mso-spacerun: yes;"> </span>What
causes this strange attraction?<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><br />
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<br /></div>
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Some
contributing factors might be that gold does not tarnish, rust or deteriorate
in any way, but remains shiny and golden at all times. It keeps its value even
when the economy is taking a dive.<span style="mso-spacerun: yes;"> </span>Gold
remains steadfast and true relative to the value of other goods and services. In
fact, the decline in confidence in world currencies contributes in no small way
to the continued popularity of gold. With the advent of the internet, the
transfer of funds by the use of gold has now become big business and millions
of dollars worth of gold is moved around the planet literally at the speed of
light and Asia, of course, never did lose its focus on the value of gold both
economically and culturally.</div>
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<br /></div>
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The European
exploration of the Americas was fuelled in no small part by reports of the gold
ornaments displayed in great profusion by Native American peoples, including
Central America, Peru, and Colombia. The desire for gold was so strong that
ships flooded to the Americas in search of this wondrous metal.</div>
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<br /></div>
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Gold is not
the most expensive of the metals. Platinum being traditionally of higher value.
But although the price of some platinum group metals can be much higher, gold
has long been considered the most desirable of precious metals, and its value
has been used as the standard for many currencies in history. Gold has been
used as a symbol for purity, value, royalty, and particularly roles that combine
these properties.</div>
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<br /></div>
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<span style="mso-spacerun: yes;"></span>Although the gold
futures price you see in the media continues to go up and down like a roller coaster, gold is still considered highly
valuable.<span style="mso-spacerun: yes;"> </span>Asia, collectively, is the
biggest buyer and holder of gold on the planet, followed closely by Russia and South
America.<span style="mso-spacerun: yes;"> </span>The vast majority of people on
the planet think that gold is worth keeping and favor it over paper currency. </div>
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<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Some people
consider gold is valuable due to its rarity.<span style="mso-spacerun: yes;">
</span>However there are many other elements and substances rarer than gold but
which do not have the same level of desirability.<span style="mso-spacerun: yes;"> </span>Diamonds for example, Platinum and some of
the rare earth elements are more rare than gold.<span style="mso-spacerun: yes;"> </span>Its malleability is another reason but there
are also other materials equally as malleable if not more so.</div>
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<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Philosophically
it was once said that when gold was created the gods put desire into it so that
man would always desire it.<span style="mso-spacerun: yes;"> </span>Perhaps
there is a lot to be said for that theory, as whimsical as it may be.</div>
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<br /></div>
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Perhaps it
is a cultural thing.<span style="mso-spacerun: yes;"> </span>In Africa gold was
not considered particularly important to the indigenous tribes until conquerors
from the west came and expressed their ardent desire to own the metal thus
giving it value. On the other hand, in the Americas, gold has always traditionally been held in high esteem.</div>
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<br /></div>
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Gold is very
versatile.<span style="mso-spacerun: yes;"> </span>It does not tarnish, is impervious
to most other elements and can be moulded and worked into an almost infinite variety
of shapes.</div>
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<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="mso-spacerun: yes;"> </span>Perhaps it is a combination of all these
things and others.</div>
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<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Thomas More,
the renowned English author, poking fun at gold as a symbol of wealth and
riches in his novel Utopia and, by implication acknowledged it. On the imaginary island
of Utopia gold was so abundant that it was used to make chains for slaves, tableware
and lavatory-seats. When ambassadors from other countries arrive, dressed in
ostentatious gold jewels and badges, the Utopians laughingly mistook them for
servants and addressed those in the party who were NOT so lavishly adorned.</div>
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<br /></div>
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Despite
Thomas More’s jocular reference, gold has held its own in any society through the
ages and continues to do so as evidenced by the continual accumulation by many nations
and peoples. <span style="mso-spacerun: yes;"> </span>Gold will continue to be
considered highly valuable by the vast majority of people on this planet
regardless of any temporary short sighted price manipulation of the gold price.</div>
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<br /></div>
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References:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<a href="http://buying-gold.goldprice.org/2013/06/gold-short-selling.html">http://buying-gold.goldprice.org/2013/06/gold-short-selling.html</a></div>
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</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
en.wikipedia.org/wiki/Gold</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-80712161019707587932013-08-28T17:44:00.001-05:002013-08-28T17:52:19.101-05:00The True Value of Gold<!--[if gte mso 9]><xml>
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<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://1.bp.blogspot.com/-R5WS2s6E5_w/Uh5-2sw2-rI/AAAAAAAAAyc/GQUoOej0x7w/s1600/customers+buy+gold+in+vietnam.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="176" src="http://1.bp.blogspot.com/-R5WS2s6E5_w/Uh5-2sw2-rI/AAAAAAAAAyc/GQUoOej0x7w/s200/customers+buy+gold+in+vietnam.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">The True Value of Gold</td></tr>
</tbody></table>
The true value of gold is reflected in the prices people are
willing to pay for it.<span style="mso-spacerun: yes;"> </span>Not in the
futures price one sees every day in the media.<br />
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For example, the official price of gold in India is
currently around $1416 per ounce.<span style="mso-spacerun: yes;"> </span>That
is <span style="mso-spacerun: yes;"> </span>96,627.77 Rupees.<span style="mso-spacerun: yes;"> </span>Yet people are forking out up to $1800
dollars per ounce.<span style="mso-spacerun: yes;"> </span>Of course the Rupee
has devalued somewhat, but that does not explain the big disparity in the
price. Despite government sanctions and penalties on buying and owning gold,
people are still willing to pay a big margin over the top. </div>
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And India is not the only country where gold is valued more
highly than currency.</div>
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Currently in Japan gold bullion demand is double that of
2012 and on the Tokyo Commodity Exchange (TOCOM), earlier this year, gold hit a
record price of 5,081 yen per gram (equal to 1,562 dollars an ounce).</div>
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In Russia there is a good understanding of the value of
gold. While the gold price in Russia is 47,013 Rubles ($1419), Vladimir Putin
has instituted a policy of making Russia the biggest world gold buyer and
Russia is now buying up gold like there is no tomorrow. The Russian Central
bank now holds well over 570 metric tones and has surpassed China in the race
to own more gold. The Vladimir Lenin gold coin has jumped 400 percent this year
in perceived value. In an interview with Bloomberg earlier this year, “The more
gold a country has, the more sovereignty it will have if there’s a cataclysm
with the dollar, the euro, the pound or any other reserve currency,” said
Evgeny Fedorov, a member of Putin’s United Russia Party.<span style="mso-spacerun: yes;"> </span></div>
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Many other countries, particularly Asian and South American,
are following suit and its not just Central banks, individuals and institutions
are also furiously stockpiling gold. </div>
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With gold starting to rise again, this is an ideal time to
buy gold and start ones own little stock pile.</div>
<div class="MsoNormal">
www.silverdoctors.com/japan-insurance-gold-buying-doubles-on-yen-concerns/</div>
<div class="MsoNormal">
www.goldrate24.com/gold-prices/europe/russia/</div>
<div class="MsoNormal">
www.bloomberg.com/news/2013-02-10/putin-turns-black-gold-into-bullion-as-russia-out-buys-world.html</div>
<div class="MsoNormal">
www.kitco.com/</div>
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<tr><td style="text-align: center;"><a href="http://1.bp.blogspot.com/-ZpZrbkYThuY/UbQqdzGGp-I/AAAAAAAAAxY/plqggP2s5MM/s1600/Derivatives-gold.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://1.bp.blogspot.com/-ZpZrbkYThuY/UbQqdzGGp-I/AAAAAAAAAxY/plqggP2s5MM/s200/Derivatives-gold.jpg" height="200" width="187" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Short Selling</td></tr>
</tbody></table>
Many people keep asking me, what is gold short selling?<br />
<br />
<div class="MsoNormal">
One way certain banks make a profit in the market place is
by manipulating the price of a commodity to such a degree that you can make
money out of that manipulation.<span style="mso-spacerun: yes;"> </span>Of
course it has to be legal or done so cleverly that it is difficult to pinpoint
any illegality in the operation but it can be done and is to this day.<br />
<br /></div>
<div class="MsoNormal">
It works like this.<span style="mso-spacerun: yes;"> </span>We
will take walnuts for example.<span style="mso-spacerun: yes;"> </span>One wants
to make a vast quantity of money from trading in walnuts.<span style="mso-spacerun: yes;"> </span>One could buy up lots of walnuts and wait for
the price to rise. But that takes too long and the price may never rise.<span style="mso-spacerun: yes;"> </span>One is depending on so many factors out of
ones control. In order to make money, one has to place as much of the
transaction as one possibly can under ones own control.<span style="mso-spacerun: yes;"> </span>Usually one controls only one side of a
transaction or contract to buy and or sell. The other party controls the other
side of the transaction.<span style="mso-spacerun: yes;"> </span>This is usually
called a contract as it is a contract between two parties to engage in a swap
of commodity for a financial value.<span style="mso-spacerun: yes;"> </span>This
all seems very simple you might say and why am writing something so obvious you
might ask? <span style="mso-spacerun: yes;"> </span>It is this very simplicity that
leads to how the price of gold and other commodities, such as silver, are manipulated
in such a way that one side of a transaction or contract can control not only
their own side of the deal but the other side two.<br />
<br /></div>
<div class="MsoNormal">
As that is the secret of shorting and making a big pile of
money as a result. The concept is very simple.<span style="mso-spacerun: yes;">
</span>Control BOTH sides of the transaction or contract.<br />
<br /></div>
<div class="MsoNormal">
How do you do this?<span style="mso-spacerun: yes;">
</span>Easy.<span style="mso-spacerun: yes;"> </span>In the gold market, you <b style="mso-bidi-font-weight: normal;">sell </b>gold you do not currently own,
with the intention of buying it back, at a lower price.<br />
<br /></div>
<div class="MsoNormal">
“How do you sell gold you do not own? That makes no sense,”
someone recently asked me. A good question.<span style="mso-spacerun: yes;">
</span>If you have ever bought a book from Amazon it is easy to understand
this.<span style="mso-spacerun: yes;"> </span>Amazon does not stock all the books
it buys.<span style="mso-spacerun: yes;"> </span>When you order and pay for a
book from Amazon, they then buy the book from a bookseller or refer the order
to a bookseller and pay them. So they collect payment on a product <i style="mso-bidi-font-style: normal;">they do not</i> have.<span style="mso-spacerun: yes;"> </span>They sell a product they do not have.<span style="mso-spacerun: yes;"> </span>It is quite legal.<span style="mso-spacerun: yes;"> </span>The only illegality that may enter into the transaction
is if they did not complete their side of the transaction and not deliver the
book (subject to various terms and conditions of course).<span style="mso-spacerun: yes;"> </span>But, yes it is quite legal.<br />
<br /></div>
<div class="MsoNormal">
The short selling process works like this: Investors start
an account with a broker. It is called a margin account and usually one has to
deposit some funds with the broker. <span style="mso-spacerun: yes;"> </span>Usually
it is initial investment of around $10,000. Short selling accounts require a
type of security deposit, called a maintenance margin. The margin is required
to ensure that the shorted stock can be returned to the borrower. After an
account is set up, the investor is ready to short stock or gold in the market.<br />
<br /></div>
<div class="MsoNormal">
After he has sold the stock or gold he does not have in the
market for as low a price as possible, if the price goes down, the short seller
makes a profit, since the cost of buying back the gold will be less than the
selling price on the initial (short) sale. On the other hand, if the price
should rise prior to repurchase, the short seller will incur a loss. The loss
on a short sale can be very substantial.<br />
<br /></div>
<div class="MsoNormal">
However, the short seller usually sells or dumps his pretend
gold very quickly. As he does not actually have any gold in the first place he
loses nothing in selling for less than the current market value.<span style="mso-spacerun: yes;"> </span>This causes the price to drop and others in
the market to follow suit and sell also at a lower price, and the price drops
even further. Others dutifully follow thinking that the value of the commodity
is dropping.<span style="mso-spacerun: yes;"> </span>In fact it isn’t. Joe is
simply dumping his pretend stock or gold at a reduced price.<span style="mso-spacerun: yes;"> </span>As a result of his initiative and by his
deliberate action of ‘selling’ below the market price, he is now controlling
both sides of the transaction.<span style="mso-spacerun: yes;"> </span><br />
<span style="mso-spacerun: yes;"><br /></span></div>
<div class="MsoNormal">
Once it is all sold off and the price has plummeted to an
all time low he can then buy the stock he ‘sold’ but at a lower price and so
make a profit on the difference. <span style="mso-spacerun: yes;"> </span>Note
that there is no actual movement of gold.<span style="mso-spacerun: yes;">
</span>This is all a paper exercise.<br />
<br /></div>
<div class="MsoNormal">
This is called short selling or selling short. It is a form
of manipulation as it is using both sides of a transaction in order to make a monetary
gain. It plays on two prime motivations.<span style="mso-spacerun: yes;">
</span>Greed and fear.<span style="mso-spacerun: yes;"> </span>As these
motivations are in abundance the manipulation is usually very successful.</div>
<div class="MsoNormal">
<br />
Major Banks that engage in short selling include:<br />
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Merrill
Lynch (New Jersey, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
State Street
Corporation (Boston, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
JP Morgan
Chase (New York, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Northern
Trust (Chicago, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Fortis
(Amsterdam, Netherlands, now defunct)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
ABN AMRO
(Amsterdam, Netherlands, formerly Fortis)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Citibank
(New York, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Bank of New
York Mellon Corporation (New York, United States)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
UBS AG
(Zurich, Switzerland)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Barclays
(London, United Kingdom)<br />
<br /></div>
<div class="MsoNormal">
If this is difficult to understand look at it like
this.<span style="mso-spacerun: yes;"> </span>You go to the local produce market
and <span style="mso-spacerun: yes;"> </span>see that the price of walnuts is 50
cents each.<span style="mso-spacerun: yes;"> </span>You find and say to a dealer
there, “Hey, I can sell you 2 million walnuts at 20 cents per walnut, how does
that sound?”<span style="mso-spacerun: yes;"> </span>The dealer says yeah, when you
can deliver?”<span style="mso-spacerun: yes;"> </span>You say next week if you
pay me now.<span style="mso-spacerun: yes;"> </span>The dealer agrees and coughs
up the money. You have now been paid for something you do not have.<span style="mso-spacerun: yes;"> </span>The word mysteriously ‘gets around’ that
walnuts are now available for 20 cents each and then the price goes down to 19
cents each.<span style="mso-spacerun: yes;"> </span>You go and buy up 2 million walnuts
at the market price (which has gone down to 19 cents each remember), then sell
then to the dealer for the agreed upon price of 20 cents each. You make 2
million cents. Or 20 thousand dollars.<span style="mso-spacerun: yes;">
</span>AND you did not have any walnuts to start with.<span style="mso-spacerun: yes;"> </span>Over simplified perhaps but essentially what
happens.<br />
<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
Occasional governmental restrictions on short selling occurs
but this is usually temporary and not overly effective. Usually we are talking
a dollar value in terms of millions or even billions and government restrictions
do not carry a lot of weight.<br />
<br /></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>By way of an
example.<span style="mso-spacerun: yes;"> </span>A few months ago silver was
shorted to the value that surpassed the actually amount of silver in the world.<span style="mso-spacerun: yes;"> </span>i.e.<span style="mso-spacerun: yes;"> </span>There
was not enough silver in the world to cover the actual short selling exercise
that occurred then. Investment banks literally make billions by artificially
driving down stock and futures prices (the price that is envisioned the
commodity will buy or sell for at some time in the future) by selling more of
the stock or ‘futures’ than exists in the real world. By doing this they sell a
commodity now they do not own to buy back later at a reduced price.<span style="mso-spacerun: yes;"> </span>Like saying, I will sell one million walnuts
I do not have for 20 cents each and buying them back at 19 cents a week
later.<span style="mso-spacerun: yes;"> </span>That way I can make 1 cent per walnut
on walnuts I do not have, money for nothing. <br />
<br /></div>
<div class="MsoNormal">
Of course Joe in the street cannot do this.<span style="mso-spacerun: yes;"> </span>Only large banks, such as J P Morgan, who
make their living creating profit out of thin air.<br />
<br /></div>
<div class="MsoNormal">
This is justified by saying that it is a ‘futures’ market
and so all the transactions are about buying and selling the commodity, such as
gold or silver, in the ‘future, and therefore bare no relevance to the actual
holdings of gold or silver in the present. On so many levels this violates the
basic exchange principle and in fact is not a transaction at all as nothing is
actually transacted.<br />
<br /></div>
<div class="MsoNormal">
The only way to resolve such activities is to impose a limit
to how much gold and silver can be shorted to the actual physical holdings of
the short seller.<span style="mso-spacerun: yes;"> </span>In other words, not be
able to sell what you do not have. This would effectively reduce short selling
gold and silver, and would help in stabilising the actual price of gold and
silver.</div>
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-53749336657655541372013-04-28T00:28:00.000-05:002013-04-28T00:29:44.197-05:00The Gold Illusion<!--[if gte mso 9]><xml>
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<br />
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<br /></div>
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-w8BHqHnVkzM/UXuZ9MK9RjI/AAAAAAAAAwU/uW3Pz1g8rcA/s1600/emas(reuters)-dalam.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="200" src="http://3.bp.blogspot.com/-w8BHqHnVkzM/UXuZ9MK9RjI/AAAAAAAAAwU/uW3Pz1g8rcA/s200/emas(reuters)-dalam.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">The Gold Illusion</td></tr>
</tbody></table>
<div class="MsoNormal">
The gold illusion is that paper gold actually represents
solid gold whereas in fact the two are as far apart as Melbourne, Australia is
to London, UK.</div>
<div class="MsoNormal">
This has never been more obvious as now where it can be seen
that Goldman Sachs & Co have accounted for over 93 percent of all ‘gold
sales’ over the past three months.*<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In the report ‘I’ stands for issues, where the company
parted with solid gold. ‘S’ means Stops and indicates where the company takes
delivery of the gold.<span style="mso-spacerun: yes;"> </span>‘C’ means customer’s
accounts and ‘H’ signifies house accounts. You will see that most transactions
end up at zero, meaning that there has been n-0 movement of actual gold.<span style="mso-spacerun: yes;"> </span>If any was delivered on a day it was gotten
back that same day.<span style="mso-spacerun: yes;"> </span>Some of the companies,
it can be seen receive more gold than they deliver, others less.<span style="mso-spacerun: yes;"> </span>Goldman Sachs, however, does not change one
iota.<span style="mso-spacerun: yes;"> </span>Despite crying about, how gold the
devils brew, it has not relinquished one golden ounce of the stuff this year to
date.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
J. P Morgan, on the other hand, has relinquished 1,966,00
troy ounces of gold over the past 3 months. 74 percent more than all the gold the
US mint delivered in 2012 in its American Gold Eagle program.<span style="mso-spacerun: yes;"> </span>(Note Feb, March and April).</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Yet, a report by Tekoa Da Silva indicates that the Comex
Depository Warehouse Gold Stocks have been depleting over the past three
months. This does not gel with the Comex report and it makes one wonder if
there is any gold in the Comex at all and I cannot get rid of the notion that
this is a way of destroying the gold illusion and preventing customers from
demanding their gold be redeemed as the comex never actually had any physical
gold in the first place and now it can be said to be almost true.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
According to chart sage <b><span style="font-family: "Verdana","sans-serif"; font-weight: normal; mso-bidi-font-style: italic; mso-bidi-font-weight: bold;">Nick Laird</span></b><b><i><span style="font-family: "Verdana","sans-serif";">,</span></i></b> this
data indicates that: </div>
<div class="MsoNormal">
<span style="font-family: Times,"Times New Roman",serif;"><i>“Eligible stocks which are owned in LBMA/Comex good
delivery form are being drawn down—which means <u>they are being removed from
the warehouses</u>. As to how and why they are [being] removed, that is a
mystery. [Up until now], eligible stocks were on the continual increase
throughout the bull market. <u>Now that trend has changed</u>.”</i></span></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Meanwhile, while the US government is working furiously to
bolster confidence in the US Dollar, across the waters Europe and Asia are
taking full advantage of the contrived foot on the price of gold and buying it
up.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In New Delhi the gold retailers are paying over the top in
order to mean increasing demand. <span style="mso-spacerun: yes;"> </span>as
customers grab every ounce of gold they can lay their hands on. Retailers are
paying 8 to 10 dollar premiums an ounce over and above the international gold
price, 4 to 5 times the average in normal peak times.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
"We have not seen this kind of premium on gold imports
in years," said Suresh Hundia, president emeritus of the Bombay Bullion Association. </div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In Dubai it is a similar story.<span style="mso-spacerun: yes;"> </span>Frantic gold buying since April the 12 has
pushed up the premium retailers have to pay to ensure they retain sufficient
stock in this real gold rush with premiums touching 5 dollars an ounce.</div>
<div class="MsoNormal">
The manic buying of gold jewellery at local shops since
April 12 is now pushing up the premium retailers need to pay to ensure they
have enough stock coming in on a daily basis.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Cyriac Varghese, general manager at Sky Jewellery said, “Since
the afternoon of April 12 gold retail sales shot up by nearly three times over
the next seven days and this represents the best phase for Dubai’s gold trade
in the last 12 years,” said. “But it has also led to pressure for retailers on
the inventory side and there is a bullion shortage – our instructions are to
snap up any supply so that stocks are constantly replenished. The last thing
any retailer wants to see is getting caught with insufficient stock at his
shops – if it means paying a steep premium then it will be paid.”</div>
<div class="MsoNormal">
In New York the US Mint has suspended further sales of its
one tenth ounce American Eagle gold bullion coins due a ‘depleted’ inventory
giving rise to the notion that there is not as much gold in the US as first
thought.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Michael Kramer, president of Manfra, Tordella & Brookes
(MTB), a major U.S. coin dealer in New York, says they have been inundated with
orders from existing and new wholesale and retail customers.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
"It's panic. This is one of the busiest times in quite
a while. People think gold's at the lows and they want to take advantage,"
he said in an interview."</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
The gold illusion is breaking down. </div>
<div class="MsoNormal">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
(In the
chart, the February 1 to April 25 delivered gold contracts includes only transactions between Companies. For that reason MorganStanley’s
307 contracts transferred from house account to customer
account was excluded from the calculations.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Total Net
gold deliveries Feb 1 to April 25:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Vision
Financial – 1 contract<br />
R J O’Brien – 2<br />
ADM Investor Services INC – 2<br />
Marex – 5<br />
Citigroup Global Markets – 10<br />
ABN AMRO – 110<br />
JP Morgan – 19,660)</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
*http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsYTDReport.pdf</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://gulfnews.com/business/retail/dubai-gold-buying-spree-leads-to-bullion-shortage-1.1173632</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.gata.org/node/12495</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.mineweb.com/mineweb/content/en/mineweb-gold-analysis?oid=187188&sn=Detail</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://online.wsj.com/article/SB10001424127887324874204578440242906344734.html</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.reuters.com/article/2013/04/23/usmint-gold-suspension-idUSL2N0DA22N20130423</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://bullmarketthinking.com/comex-physical-drain-accelerates-with-over-7-8b-disappearing-from-all-depositories/</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-54249006227617049732013-04-23T02:27:00.001-05:002013-04-23T02:36:13.767-05:00A Run on Gold<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://2.bp.blogspot.com/-Qe_wNXOY8kI/UXIsu6jS5zI/AAAAAAAAAwE/_0kFQzOmsmw/s1600/Comex-Depository-Wharehouse-gold-stocks.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="244" src="http://2.bp.blogspot.com/-Qe_wNXOY8kI/UXIsu6jS5zI/AAAAAAAAAwE/_0kFQzOmsmw/s320/Comex-Depository-Wharehouse-gold-stocks.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Comex Depository Wharehouse Gold Stocks</td></tr>
</tbody></table>
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</xml><![endif]-->The world is experiencing an unprecedented run on gold. While
paper gold plummets, people are buying up gold like there is no tomorrow and while the
media is saying all is lost and gold has done its dash, banks, countries and
institutions, as well as individuals, are buying up as much gold as they can get their hands on.<span style="mso-spacerun: yes;"> </span><br />
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According to Mehul Choksi, chief executive officer of Gitanjali, India’s
biggest retailer of jewelry and diamonds by sales. “The season
is very hot for buying with weddings and other auspicious dates coming up," he continued, “The decline will be positive for jewelry as there will be a
pick-up in demand because affordability will increase. Volumes will increase.” </div>
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“We rushed
to buy as soon as we saw prices fall so much and decided to buy jewelry
early for our daughter’s wedding in January,” said Blossom D’souza, while
browsing through a selection of bangles in a jewelry store in Mumbai’s Chira
Bazaar area. “Now we can buy more gold within our budget.”</div>
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<br /></div>
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The Perth
Mint reports a record highest activity of the year and, recently, one of
the best days out of the past year. The demand for gold coins has skyrocketed with
sales of Australian gold bullion coins increasing by almost fifty percent in
the first quarter of this year compared to the previous year. </div>
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<br /></div>
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And over in
Japan, gold merchants who normally see long lines of middle income and older
Japanese cashing in on long held unwanted jewelery are now experiencing the
reverse. Buyers of gold now outnumbering sellers, with buyers waiting up to
three hours at Ginza Tanaka, the main shop of Tanaka Holdings, to make a
transaction.<span style="mso-spacerun: yes;"> </span>It was recently reported by
a Ginza gold merchant that buyers had taken about 6 kg of gold home by early
afternoon on Tuesday last. One 60-year-old man walked out of the store with 500
grams of gold for about 2.2 million yen ($22,500).</div>
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<br /></div>
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Meanwhile, In
China and Thailand the rush is on to buy gold as a result of the new forced low
gold price.<br />
<br />
According to the Financial Times, "The feverish buying has left many of Hong Kong's banks, jewellers,
and even its gold exchange without enough yellow metal to meet demand.
In Shanghai the gold exchange saw volumes -- often seen as a proxy for
demand -- rising to a record on Monday, while queues formed outside some
jewellery shops in Beijing" And Haywood Cheung, president of the Hong Kong Gold & Silver Exchange
Society, said the exchange has basically run out of gold."In terms of volume, I haven't seen this gold rush for over 20
years," he said. "Older members who have been in the business for 50
years haven't seen such a thing."<br />
<br />
Joni Teves, precious metals analyst at UBS, scommented to clients recently, ."Physical markets have responded to the much cheaper gold price
levels, "Our physical flows to Asia have been particularly elevated
this week.'</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Back in the
good old US of A, gold dealers are reporting a brisk demand for gold and
silver. Silver is commanding a 20 percent premium and considered cheap at the
cost due to the difficulty in getting any.<span style="mso-spacerun: yes;">
</span>Delivery times are reported as being around 5 to 6 weeks. </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Paul
Tustain, Director of BullionVault is reporting volume sales. “Monday and
Tuesday were our strongest 48 hour period for new customers this year.”<span style="mso-spacerun: yes;"> </span>He said recently. “We normally have about 230
deposits a day (300 on a Monday) and about 100 withdrawals a day (120 on a
Monday). Mondays are usually higher because they include weekend activity. On
Monday we had 723 deposits versus 284 withdrawals. On Tuesday we had 732
deposits versus 150 withdrawals. Monday was a record day for business
transacted, beating the previous peak of September 2011.”</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Sources in
Hong Kong report volume buying of gold also. “I've been taking this opportunity
to stock up on some yellow metal. “I went to Hang Seng bullion counter
yesterday.’ Said one buyer. “The line was out the door. It took an hour
wait to see a teller. When I asked if people were buying in the dip or
selling in panic, she told me that they haven't had once ounce of gold sold
back to them all day. She told me they have sold more gold in 24 hrs than
they normally do in 3 months. Yes, there was a lot of extra
security. The guy in front of me bought over $1 million in gold. He
paid in cash and walked out of the door with the (gold) bullion in a Nike
bag….”</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
A number of
analysts have questioned the paper gold plunge and questions are now being
asked if JPMorgan, and to some extent the HSBC really have the gold to substantiate
the massive sell off recently. As the Comex gold inventories, in fact, have plunged
by the largest amounts on record contrary to media ‘reports’ that inventories
have increased (see chart) and,instead of inventories increasing by the largest
amounts on record, which is what the mainstream media would have you believe, the
opposite is true.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Gold is gold
and paper is paper.<span style="mso-spacerun: yes;"> </span>A paper manipulation
does not blind people to the true value of gold. Gold buying is still highly
popular as it has been for centuries.<span style="mso-spacerun: yes;">
</span>The recent artificial dipping of the futures gold price has only served
to give more people a better advantage to buy gold.<span style="mso-spacerun: yes;"> </span>There is indeed a gold run.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
References:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
goldandsilverblog.com/physical-demand-for-gold-and-silver-skyrockets-gold-bullion-coin-sales-highest-since-december-0481/</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
uk.reuters.com/article/2013/04/16/us-japan-gold-idUSBRE93F18I20130416</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
www.BullionVault.com</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
www.hardassetsinvestor.com/features/4699-gold-nose-dives-below-1500-as-etf-holdings-free-fall-fueling-panic-selling.html</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
www.bullionbullscanada.com/gold-commentary/26069-paper-gold-isnt-real-gold</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
The Daily
Grind.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-48826029444163199012013-04-15T03:07:00.002-05:002013-04-15T03:08:59.764-05:00Buying gold vs selling gold<!--[if gte mso 9]><xml>
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<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-uB_kPIuPQiY/UWnxW80EJZI/AAAAAAAAAv0/jPsWL2b6uAo/s1600/tiny+gold+bars.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="132" src="http://4.bp.blogspot.com/-uB_kPIuPQiY/UWnxW80EJZI/AAAAAAAAAv0/jPsWL2b6uAo/s200/tiny+gold+bars.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Buying gold vs selling gold</td></tr>
</tbody></table>
Buying gold vs selling gold.<span style="mso-spacerun: yes;">
</span>Which to do? It is well understood that when something is in short
supply, the price goes up. As rarity of a product or service increases, so does
the price.<span style="mso-spacerun: yes;"> </span>The art world understands
this completely. Yet in the gold and precious metals arena we have a completely
different story.<br />
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<br /></div>
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On the one hand we have shortages of gold available to buy
with major shortages in the availability of gold for sale according to veteran
Bill Haynes. Buyers are currently already outpacing sellers by a 50 to 1
ratio. He recently reported on King World News, “last week we
sold more gold and silver than we normally sell in a whole month. On
Friday alone it was astounding because we sold as much physical bullion as we
would normally sell in an entire week. There is a great deal of big money
coming into the market on this decline.”</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
One ounce gold bars are the biggest seller.<span style="mso-spacerun: yes;"> </span>And don’t forget the silver market.<span style="mso-spacerun: yes;"> </span>The US mint is having a hard time keeping up with
the demand for silver eagles and silver maple leafs which are already seeing
delayed delivery. <span style="mso-spacerun: yes;"> </span>The premium on
gold and silver products is at a premium.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Yet on the other hand we see the ‘price of gold’ going down
contrary to the value of gold.<span style="mso-spacerun: yes;"> </span>In point
of fact it is being driven down with a vengeance by JPMorgan et al.<span style="mso-spacerun: yes;"> </span>GATA's Chris Powell stated many
years ago."There are no markets anymore, only interventions." And we
can see this now quite blatantly in today’s market.<span style="mso-spacerun: yes;"> </span>Only recently high frequency traders got
stuck in to the gold.<span style="mso-spacerun: yes;"> </span>This gold cartel
raid of shorting precious metals hit an all time high (or should it be low)
recently with massive selling. Over five hundred tones of paper gold were
recently sold by the gold cartel in one hit to drive the price down.</div>
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<br /></div>
<div class="MsoNormal">
Faith in the US dollar as the world’s reserve currency is
dropping as countries divest themselves of the currency.<span style="mso-spacerun: yes;"> </span>Some countries are now trading directly
(Australia and China for example) and the BRIC group of countries, Brazil
India, Russia and china are heading towards a reserve currency of their own.<span style="mso-spacerun: yes;"> </span>As the world’s gold is slowly but inexonerably
moving from west to east the US banks are becoming more and more desperate in
their frantic efforts to bolster confidence in the dollar.<span style="mso-spacerun: yes;"> </span>Screwing confidence in gold is one way of
doing it. Even if it costs more money, but hey who cares, they can always print
some more.</div>
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<br /></div>
<div class="MsoNormal">
But through all this quagmire of who is selling what to whom
and for how much, the value of gold and the real gold price remains the same.
Buy gold vs sell gold does not change. Gold is a solid precious metal and an
ounce of gold will still buy you a jolly good suit.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-49764603096675280172013-04-13T16:28:00.000-05:002013-11-23T23:14:19.205-05:00Gold Price Today<!--[if gte mso 9]><xml>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-KBZ4MwbVTZY/UWJ7Ur1ZNdI/AAAAAAAAAvk/pGx9GMiV844/s1600/24-gold2.png" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="160" src="http://4.bp.blogspot.com/-KBZ4MwbVTZY/UWJ7Ur1ZNdI/AAAAAAAAAvk/pGx9GMiV844/s200/24-gold2.png" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Price Today</td></tr>
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<![endif]-->The gold price today that you find issued in the media is
not the actual goldprice.<span style="mso-spacerun: yes;"> </span>It is the
paper gold price and subject to manipulation in order to create the apparency
of gold being of less value than currency. A fallacy as in actual fact the
value of gold never changes.<span style="mso-spacerun: yes;"> </span>Gold continues
to retain its value in terms of exchange and what one can purchase with it.<br />
<br />
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During the past few months there has been a heavy trading of
paper gold at the end of each daily session in an effort to keep the gold price
below 1600USD.<span style="mso-spacerun: yes;"> </span>Despite this the central
banks are buying up gold to bolster their failing economies.<span style="mso-spacerun: yes;"> </span>The Russian Central Bank, the world’s
biggest gold buyer now added 570 tonnes over the past decade.<span style="mso-spacerun: yes;"> </span>That is over 30 Billion dollars worth of
gold. They are not alone. Over the past couple of years, the bank for
international Settlements has increased its gold holdings by almost 8 percent. Turkey
has increased its gold holdings by over 85 percent and Brazil has doubled its
gold holdings.<span style="mso-spacerun: yes;"> </span>Many other central banks
are energetically buying gold like it is going out of fashion. <span style="mso-spacerun: yes;"> </span>Iraq has increased its gold reserves by over
400 percent and Paraguay by a whopping 1152 percent!</div>
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In fact, most of the smaller nations have high percentages
of gold acquisition over the past 2 to 3 years and are working hard to catch up
to the larger nations.<br />
<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Of course India and China continue to work furiously buying
up as much gold as possible with China even buying into gold mines to supplant
their holdings at a cheaper price.<span style="mso-spacerun: yes;"> </span>And
it is all about price isn’t it?<span style="mso-spacerun: yes;"> </span>By firmly
keeping the gold price down the Central Banks can buy at a lower price.<span style="mso-spacerun: yes;"> </span>Makes sense does it not?<br />
<br /></div>
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</div>
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The BRIC Nations (Brazil, Russia, India, and China) are
notably not sitting on their laurels.<span style="mso-spacerun: yes;">
</span>They are working on setting up a new development bank to pool foreign
reserves in order to prevent any off balance of payments or future currency
crisis. <span style="mso-spacerun: yes;"> </span>According to Martyn Davies,
chief executive officer of Johannesburg-based Frontier Advisory, which provides
research on emerging markets, "The deepest rationale for the BRICS is
almost certainly the creation of new Bretton Woods-type institutions that are
inclined toward the developing world. There's a shift in power from the
traditional to the emerging world. There is a lot of geo-political concern
about this shift in the Western world."<br />
<br /></div>
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And gold will play a significant part in this. Notice how
these are all countries with a very heavy focus on buying gold to supplant
their reserves. This is not done out of whimsy. When the crunch comes, and it
will, these countries want to ensure they still have some value in their
currency.<span style="mso-spacerun: yes;"> </span>The future aligning of
currencies to gold reserves is getting closer and closer.<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
A currency will only have value when there is gold to back
it.<span style="mso-spacerun: yes;"> </span>Remember it was not long ago that
the central banks elevated gold to be a 1<sup>st</sup> tier in the CAR*<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
So the gold price today, as expressed as a gold price
futures (Notice also the word ‘futures’ is often omitted from the gold price in
the media) is not the real price of gold. Only the paper price of gold used to
dissuade people from buying the real gold while it is still cheap.<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
*CAR: <span style="mso-spacerun: yes;"> </span>Capital
adequacy ratio is the ratio which determines the banks ability to meet its
liabilities in an agreed upon time frame and is the capital the bank uses as a
cushion against any potential losses it might incur. It is designed to protect
the bank's depositors and other lenders. Most nations define what the CAR is
going to be and maintain the banks CAR in order to maintain confidence in the
countries banking system.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-30333965463298273582013-03-11T14:43:00.000-05:002013-03-11T14:52:12.030-05:00Gold up, currencies down<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-p2TcrXVBP2o/UT4zLNWPqwI/AAAAAAAAAvU/tjMsi_TEVbM/s1600/gold_1_year_o_jpy.png" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="221" src="http://3.bp.blogspot.com/-p2TcrXVBP2o/UT4zLNWPqwI/AAAAAAAAAvU/tjMsi_TEVbM/s320/gold_1_year_o_jpy.png" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Japanese Gold</td></tr>
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</xml><![endif]-->Gold may appear to be going down in the west, possibly due
to suppression of the gold price through short selling, but gold is actually going
up while currencies are going down, at least in the east and Central America if
not in the west.<br />
<br />
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In Japan, for example, gold has gone up like a rocket 36
percent.<span style="mso-spacerun: yes;"> </span>An ounce of gold in Japan
selling for 125,000 yen in July 2013, now sells for 145,000 and even peaked at
a highest ever of 155,000 in February. <span style="mso-spacerun: yes;"> </span>Japans ‘quantitative easing’, or print money
like toilet paper, has reduced the value of the yen plummeting on international
exchanges.<span style="mso-spacerun: yes;"> </span>So if a Japanese citizen has
a yen for gold it is going to take more yen than ever to buy gold.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
China is continuing its policy of acquisition of gold and
mines.<span style="mso-spacerun: yes;"> </span>Recently it purchased another
gold mine. China African Precious Metals (CAPM) has just bought assets of the
embattled Aurora gold mine in South Africa. In a recent statement, CAPM said “it
reached an agreement with provisional liquidators of mine and successfully met
their requirements, including the full payment of the acquisition price.”. "The
board of directors sees its investment in the mining sector in South Africa as
its first imprint in Southern Africa,"<br />
<br />
China is evidently not keen on continuing to
hold assets in currencies that other countries can devalue with quantitative
easing at will so are continuing to <span style="mso-spacerun: yes;"> </span>buying more gold than ever, using their
quantitative US dollars. Gold bar sales in China, for example, doubled in the
Spring Festival this year compared to last. Sales of gold and silver have
increased almost 39 percent. Gold has also reached a highest ever in other countries such
a Brazil, Iceland and India for example. And those Argentineans who exchanged
their pesos for gold in 2007 are now very happy folk.<span style="mso-spacerun: yes;"> </span>In just the past two years, gold in Argentina
went up 45 percent and also hit record highs.</div>
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</div>
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So how come gold is going down in the west and up in the
east?<span style="mso-spacerun: yes;"> </span>Both area practice quantitative
easing and the currency is worth less and less as a result. <span style="mso-spacerun: yes;"> </span>Checking the Japanese one year chart (above) for example,
it is easy to see the difference between the western countries, USA, Europe etc
as compared to major eastern such as India and Japan. Perhaps the fact that
there is little short selling in India and Japan compared to the US and western
countries is a pointer to the effects short selling can have on the price of a
commodity. <span style="mso-spacerun: yes;"> </span>Of course no one is going to
object while they can buy gold for so few dollars.<span style="mso-spacerun: yes;"> </span>Or perhaps the big movement of gold from the
west to the east is motivated by profit.<span style="mso-spacerun: yes;">
</span>Buy gold in the US for a pittance and sell in Japan for a nice tidy
profit.<span style="mso-spacerun: yes;"> </span>What ever the reason, one can
say that the real price of gold is up while the value of currency is down.</div>
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</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://goldprice.org/gold-price-history.html<br />
http://www.marketwatch.com/story/the-secret-bull-market-in-gold-2013-03-06</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=181116&sn=Detail</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.bullionstreet.com/news/china-acquires-yet-another-african-gold-mine/4253</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Central
Banks Buy the Most Gold Since 1964 - 24/7 Wall St. http://247wallst.com/2013/02/14/central-banks-buy-the-most-gold-since-1964/#ixzz2N0E8IetU</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-85121474192746120812013-03-10T18:10:00.001-05:002013-11-23T23:15:46.030-05:00Where is the gold?<!--[if gte mso 9]><xml>
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<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-WArR16XTi-g/UTU5EayBUnI/AAAAAAAAAu0/q8hRWRMuqZ8/s1600/24-gold2.png" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="160" src="http://4.bp.blogspot.com/-WArR16XTi-g/UTU5EayBUnI/AAAAAAAAAu0/q8hRWRMuqZ8/s200/24-gold2.png" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Where is the Gold?</td></tr>
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</xml><![endif]--> According to Eric Sprott CEO of Sprott Asset Management recently,,
"… on Feb. 19, nearly an entire year's supply of gold traded on the Comex
in a single day. The same volume of silver trading happened on the commodities
exchange. You and I both know that the people selling that much metal cannot
deliver it because it is just not available. Yet somehow they are out there,
pounding down these contracts and keeping the price suppressed. "<br />
<br />
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"I would hypothesize that the central bankers know
their policy of printing money is the most irresponsible thing imaginable, and
they are suppressing gold and silver prices to hide their irresponsibility.
When one is printing that much money, gold and silver prices are the first
things you would expect to rise. If we saw gold going to $2,000 per ounce, the
price of oil would probably go to a new high and the price of agricultural
commodities would go up. Then you would have a huge inflation problem on your
hands. "*<br />
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This despite having an unlimited Quantative Easing as a way
to reduce the countries debt <span style="mso-spacerun: yes;"></span>(The more
money is printed the less value it has and therefore the less value the debt
has).<br />
<br /></div>
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</div>
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As a result, although the price of real gold is being firmly
pushed down, <span style="mso-spacerun: yes;"> </span>buying gold is still the best
way to preserve assets as, apart from it being real money, many other nations
fully recognise the true value of gold and continue to buy it at breakneck
speed and that adds value to the precious metal also.<span style="mso-spacerun: yes;"> </span>We are talking real gold here, not paper
gold. What is fostered off onto the general public however is that paper gold
is the real gold and real gold is not!<br />
<br /></div>
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</div>
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Looking at this from a legal perspective one could say that
calling something “paper gold” but selling only paper (backed by nothing) is a
form of fraud.<span style="mso-spacerun: yes;"> </span>In addition, selling
“paper gold”, backed by real bullion, where, to quote, Jeff Nielson of Gold
commentary ‘no actual ownership of gold’ forms part of the sale could, in my opinion, also be
considered a covert form of fraud.<br />
<br /></div>
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Banks have not been immune to this viral infection.<span style="mso-spacerun: yes;"> </span>Morgan Stanley is a typical example. They
sold “paper gold” to some of their clients through ‘bullion accounts’ assuring
them their gold was safely tucked away and could be claimed or redeemed
anytime. This was not the case however as when some clients attempted to redeem
their gold, it did not in fact exist.<span style="mso-spacerun: yes;"> </span>It
was paper gold, not real gold.<span style="mso-spacerun: yes;"> </span>Morgan
Stanley got a rap on the knuckles for that deception**, but it does point to
the importance of ensuring that gold you buy is in fact gold and not paper
gold<span style="mso-spacerun: yes;"> </span>and that redemption of the gold
is<span style="mso-spacerun: yes;"> </span>guaranteed if, at any time, the
client wants it.<br />
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The lesson here being that when one buys gold, buyer beware!
There is no substitute for doing due diligence and actually reading the terms
and conditions under which you are parting with your money and buying gold.<br />
<br /></div>
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For example. This applies very much to the SPDR Gold Trust –
more commonly known by its market symbol “GLD”.<span style="mso-spacerun: yes;">
</span>If you want to know how banks can “sell paper gold” while not actually selling
gold, simply read the GLD prospectus. A good analysis of this is available at
Gold Commentary***.<br />
<br /></div>
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</div>
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If every client of GLD decided they wanted to close their
account and take the proceedings in gold it is extremely unlikely they would all
get their gold, partially because there is insufficient gold in the account to
allow every client to take their gold but also because, per their terms and
conditions, the Custodian has no obligation to deliver gold to the account or
unit holders.<span style="mso-spacerun: yes;"> </span>This could be considered ‘wilful default’,
where the custodian possesses the gold, purely to satisfy legal requirements,
but is unwilling to part with it.<br />
<br /></div>
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<div class="MsoNormal">
The moral of the story is, of course, buy actual real gold
not paper gold. Then you will always be able to answer the question.<span style="mso-spacerun: yes;"> </span>Where is the gold?<br />
<br /></div>
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</div>
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*http://www.theaureport.com/pub/na/15052</div>
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**http://uk.reuters.com/article/2007/06/12/morganstanley-suit-idUKN1228014520070612</div>
<div class="MsoNormal">
***
http://www.bullionbullscanada.com/gold-commentary/13341-the-seven-sins-of-gld</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-47096471704649351622013-02-25T18:21:00.000-05:002013-02-25T18:22:06.660-05:00Why is the gold price down?<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://2.bp.blogspot.com/-iZaeIGi6vB0/UShBykgClSI/AAAAAAAAAug/9hnCuIRCg6s/s1600/10+year+gold+history.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="203" src="http://2.bp.blogspot.com/-iZaeIGi6vB0/UShBykgClSI/AAAAAAAAAug/9hnCuIRCg6s/s320/10+year+gold+history.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">10 year gold price</td><td class="tr-caption" style="text-align: center;"><br /></td></tr>
</tbody></table>
<br />
<div class="MsoNormal">
Right now the gold should be rising so why is the gold price
down?<span style="mso-spacerun: yes;"> </span>Against all logic the price of
gold has remained in a 1600 to 1700 range and, even, just recently dropping
below the 1600 mark.<span style="mso-spacerun: yes;"> </span>It seems as soon as
it starts to reach up, wham! It gets knocked back.</div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
Perhaps the answer lies in this interesting comment by
noted Analyst Chris Martenson.</div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i><span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">“As I noted in the run up to the QE4 announcement
and then in the days right after, some entity has been selling literally
thousands and thousands of gold contracts into the thinly traded overnight
markets so rapidly that we have to use millisecond charting to see it for what
it is. Again, there is no other legitimate explanation for this activity
of which I am aware besides having an intent of pushing the price down.</span></i><span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;"></span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i><span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">“Whether there is some motivation for this activity
besides 'making money, I remain convinced that the gold market, like many
others, is no longer sending useful price signals. Instead it is telling us
that some entity has found it useful to sell thousands of gold contracts all at
once.</span></i><span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;"></span></div>
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<i><span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">“The interesting part of this story is that this
has been the most sustained, intensive, and yet ineffective gold-selling that I
have yet seen. In the past, such bear raids, as they are called, would
have resulted in a sharply lower gold price. Right now, that has not yet
really happened.”</span></i></div>
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The main effect this seems to be having is to push out the
weak willed and hesitant.<span style="mso-spacerun: yes;"> </span>Certainly the
central banks and major Asian countries are not dissuaded from accumulating
gold.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
The gold price we are seeing every day in the media is not
the gold price right now but the paper gold futures price. This gets glossed
over and the mind set is that it is the gold price that is weak.<span style="mso-spacerun: yes;"> </span>Whereas it is simply the paper gold price
being pushed down so they can buy at lower levels before allowing it to rise
again and then repeat the cycle over and over again. </div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
China, for example, is buying up when the price drops and
pauses when it rises. China is fast becoming one of the major holders of gold
in the market place and is supplanting their holdings by buying up gold mines
in order to get gold at a even cheaper price.</div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
The GOOD news is that looking at the gold price chart above,
it can be easily seen that this is a similar scenario to 2008 when the gold
price was pushed down heavily and yet later the following year continued its
climb to the, what was then considered rarefied heights of over a thousand
dollars an ounce.<span style="mso-spacerun: yes;"> </span>Apart from a peak of
900 and a low of 1550 it has steadily remained in the realm of 1600 to 1800 for
close on three years so a<span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;"> break out is certainly inevitable and all the
signs are there for a resumption in the climb towards the next level. It is
just a matter of when. </span></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">As Chris Martenson remarked.</span></div>
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<span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">“<i>I am wondering if a big up move is not right
around the corner for gold. I can tell you that if even one fourth of the
recent QE effort was announced five years ago, markets would have exploded and
gold would have absolutely launched...”</i></span></div>
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<span style="mso-fareast-font-family: "Times New Roman"; mso-fareast-language: EN-AU;">This could be part and parcel of why the price of is
gold down, relatively speaking and maybe now is time to do as the banks and governments
are energetically doing.<span style="mso-spacerun: yes;"> </span>Buying gold
while it is still cheap.</span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-34878380497580650022013-02-17T17:24:00.001-05:002013-02-17T17:27:36.526-05:00Gold Exploration & Mining<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-UcVi7ANIWK8/USBm0pnGzEI/AAAAAAAAAuI/5Ae5W0uz9s8/s1600/fair-trade-gold.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="178" src="http://4.bp.blogspot.com/-UcVi7ANIWK8/USBm0pnGzEI/AAAAAAAAAuI/5Ae5W0uz9s8/s200/fair-trade-gold.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Exploration & Mining</td></tr>
</tbody></table>
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</xml><![endif]-->Gold exploration and mining is
something that every gold investor should be familiar with.<span style="mso-spacerun: yes;"> </span>Some of the terms and information can be
rather technical and daunting for some making it difficult to assess if they
should be investing in a particular gold exploration and mining company or not
so here we hope to make the subject clearer.<br />
<br />
<div class="MsoNormal" style="line-height: 150%;">
We are talking here mostly about
companies listed on the various stock exchanges (although the information here
can apply to private gold mining companies also). These are public companies
and, although there are variations from country to country, the essentials are
the same. All are public listed companies. All have a share price that varies
from day to day depending on various factors, such their management style,
production, future prospects and so forth, and all are involved either in
exploration, mining or both.<br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
It is a good idea to establish
which a company is.<span style="mso-spacerun: yes;"> </span>Some are exploration
only. Some are mining only and some; many in fact, are a combination of the
two.<span style="mso-spacerun: yes;"> </span>Mining companies can also invest in
each other and have shares in another mining company or exploration
company.<span style="mso-spacerun: yes;"> </span>Some mining companies are even
offshoots of others.</div>
<div class="MsoNormal" style="line-height: 150%;">
It is also a good idea, before one buys
gold investments or shares in any public company in the gold mining sector, to
really understand all the aspects of a company, who is running it, what style
of management is used, what they actually do, what are their prospects, what
are their assets, the balance sheet, etc.<span style="mso-spacerun: yes;">
</span>As in any type of financial arrangement, one should consult with ones
financial advisors before embarking on any investment adventure.</div>
<div class="MsoNormal" style="line-height: 150%;">
Having said that, let’s find out
what sort of activities we can expect from a gold exploration and mining
company.<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Prospecting and Exploration</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
It all starts with the prospecting.<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Initial prospecting is done to determine if a full exploration is
warranted.<span style="mso-spacerun: yes;"> </span>A full exploration can cost
many thousands, even millions so before such expense is undertaken, initial
prospecting including sampling of the surface and possibly some distance down
from the surface is done. It is commonly thought that any gold underground will
show some traces on the surface and this is what mining prospectors look for to
start with.<br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
These days, for serious gold mining,
one is not looking for gold nuggets on the surface say in streams for
example.<span style="mso-spacerun: yes;"> </span>That is panning for gold and
is too small for a full gold mining operation.<br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
For serious gold mining one is
looking for a concentration of gold within minerals, usually of a type of
rock.<span style="mso-spacerun: yes;"> </span>The concentration is measured in
grams of gold per tone of ore.<span style="mso-spacerun: yes;"> </span>The more
grams of gold per tonne the more economical and therefore profitable it is to
mine the gold.<span style="mso-spacerun: yes;"> </span><br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
How much gold is estimated to be in
a particular mine or project?<span style="mso-spacerun: yes;"> </span>What is
the expected gold ounce per tone of ore?<span style="mso-spacerun: yes;">
</span>The less gold extracted per tone of ore the higher the cost to extract
it. This is usually measured in reports as g/mt or grams of gold extracted per
tonne of ore, so 10 g/t would be ten ounces of gold produced from one metric tonne
of ore. What are the production costs is another question to ask. Also how much
gold is expected to be produced over the entire project? This can tell you the
viability of setting up operations for that project, capital and running costs,
maintenance etc.<span style="mso-spacerun: yes;"> </span>10 g/t with an
expectancy of 50,000 ounces of gold or more might be considered good all things
being equal. 1 g/t with an expectancy of 100 ounces would be considered very
bad.<span style="mso-spacerun: yes;"> </span>Of course these are extremes but
they do indicate the necessity of getting all the relevant data and checking
through it thoroughly.<br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
A MEG (Metal Economic Group) study
has come up with a set of averages or guide for gold mining and exploration.<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
No of Projects:<span style="mso-spacerun: yes;"> </span>5</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Budget per project: $US1.8 million</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Size of each project: 570sq km</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Drilling on each project: 6,800m</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Budget per planned metre: $288.40</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
No of Geoscientists:<span style="mso-spacerun: yes;"> </span>8</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Budget per geoscientist: $1.4 million<br />
</div>
<div class="MsoNormal" style="line-height: 150%;">
In short, it is not just a matter
of how many grams or ounces in each tonne of ore one can recover, it is also
how big the lode or lodes are and how many thousands of ounces of gold an
organisation can recover.<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Mining</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Mining of gold is usually either open cut or underground.<span style="mso-spacerun: yes;"> </span>Most gold on the surface these days has been
already located and mined although some pockets do get found on occasion.<span style="mso-spacerun: yes;"> </span>Most gold is mined from under the earth and
this can be either a few feet down or even up to many hundreds of feet or even
kilometres.<span style="mso-spacerun: yes;"> </span>Of course underground mining
is generally more expensive than open cut as more energy and equipment has to
be expended to shore up the mines and bring the ore to the surface.<span style="mso-spacerun: yes;"> </span>Not only that but more safety measures are
required and more equipment is needed.<span style="mso-spacerun: yes;">
</span>This all has to be taken into account when assessing the cost of
extracting the gold and there needs to be sufficient gold available to be
extracted to make it worth while for the mining company to go forth and
continue with the mining.<span style="mso-spacerun: yes;"> </span>It can be
noted here that, the higher the value of gold in the market place, the more
viable it becomes to mine gold that is more difficultly and costly to mine and
the lower grams per tone of ore can be mined.<span style="mso-spacerun: yes;">
</span>With the price of gold 10 years ago, lower grams of gold ore would not
have been viable due to the cost of mining and processing. These days, as the
price of gold continues to rise, mines containing a lower amount of gold per
tone of ore become more viable to mine.<br />
<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">More on Gold Mining</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Generally when a mining or exploration company discovers a viable and
worth while lode they will apply for a licence.<span style="mso-spacerun: yes;">
</span>How this is done various from country to country and even state to state
in some cases and is not really of much interest to investors of mining
companies other than the fact that all mining companies do need to have all the
relevant licenses and lease agreements required by law.<span style="mso-spacerun: yes;"> </span>This is something that should be listed in
any mining company’s prospectus and should be looked for to establish the
authenticity of the company.<span style="mso-spacerun: yes;"> </span>A company
with no licence and or leasing agreements would not be able to mine and is
probably not a bona fide mining company at all.</div>
<div class="MsoNormal" style="line-height: 150%;">
Mining companies lease tenements or
blocks.<span style="mso-spacerun: yes;"> </span>These have been established to
contain lodes, mineral rock in which the metal is contained.<span style="mso-spacerun: yes;"> </span>Sometimes you see mentioned Mother Lode. A
mother load is an ore deposit from which a placer is derived; the mother rock
of a placer (Placer: A deposit of sand or gravel that contains particles of
gold, gemstones, or other heavy minerals of value. They are commonly stream
gravels and beach sands).<br />
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Mining Company Structure</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Important to consider also the mining company itself. Is it a public
company already floated on the stock exchange? Is it a private company looking
to initiate an IPO (Initial Public Offering) and list on the exchange? Who runs the company?<span style="mso-spacerun: yes;"> </span>Are they experienced in management, geology
and, importantly finance? What are the governance policies of
the company? What is the offer to shareholders?<span style="mso-spacerun: yes;">
</span>The history of the company.<span style="mso-spacerun: yes;"> </span>All
these factors should be taken into consideration.<span style="mso-spacerun: yes;"> </span>Just finding a large deposit of gold is not
enough.<span style="mso-spacerun: yes;"> </span>It has to be managed well,
correctly assessed and the finances should be in place to extract the gold
satisfactory and at a profit otherwise the company could go bust, regardless of
how much gold they have. They could lose their license to mine or the lease
hold and the gold could well end up in someone else’s hands.</div>
<div class="MsoNormal" style="line-height: 150%;">
</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Future Gold Mining Prospects</b></div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
Of course the future of the company is dependent on how much gold they
expect to dig up over a period of time.<span style="mso-spacerun: yes;">
</span>If they expect to dig up, say 20,000 ounces a year for twenty years then
that sounds quite viable.<span style="mso-spacerun: yes;"> </span>But if the
gold they have discovered runs out after two years then the share price is
going to drop and the company go bust.<span style="mso-spacerun: yes;">
</span>So how long the gold will last is an important question. The gold price
has a bearing also as that can determine the viability of extracting the gold.</div>
<div class="MsoNormal" style="line-height: 150%; margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="line-height: 150%;">
<span style="font-size: 10.0pt; line-height: 150%;"><br /></span></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-63631868494204595992013-02-14T21:02:00.001-05:002013-11-23T23:16:51.630-05:00Is Gold, is Good<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-Xs3iNg5CfOc/URQtCX4ZFPI/AAAAAAAAAtw/f-qCMM2CHgg/s1600/not+enough+gold+to+go+around.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img alt="is Gold is Good" border="0" height="200" src="http://3.bp.blogspot.com/-Xs3iNg5CfOc/URQtCX4ZFPI/AAAAAAAAAtw/f-qCMM2CHgg/s200/not+enough+gold+to+go+around.jpg" title="Is Gold Is Good" width="197" /></a></td></tr>
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<span style="font-family: "Times New Roman","serif";">I</span>s gold, is good, is not just mis-quoted from the Dons brand
of meats (Is Don, is good) but is also the theme of the Deutschebank who calls
gold "goodmoney" and paper "bad money". Now is a good time
to buy gold it. <br />
<br /></div>
<div class="MsoNormal">
In fact the President of the German central bank paid
tribute to gold as a “timeless classic.” Not only that, a leading member
of the policy committee of the Peoples Bank of China has called the gold
standard, “an excellent monetary system…”<br />
<br /></div>
<div class="MsoNormal">
And recently, in The China Post, CNN’s Kevin Voigt
wrote, “One platform of the recent U.S. Republican National Convention that,
ultimately, could reverberate around the world is a plan to study a possible
return of the U.S. to the gold standard. While it was perceived as a move to
appease the party’s extreme right wing, economists like Mundell think the world
needs a limited return to the gold standard.”<br />
<br /></div>
<div class="MsoNormal">
To substantiate that, it has been reported by Reuters
that Hong Kong's net gold flow to mainland China has jumped 47 percent in 2012
to a record high of 557.478 tonnes, showing the continued determination by
China to be the world’s largest holder of gold bullion.</div>
<div class="MsoNormal">
In December, Hong Kong shipped 114.372 tonnes of gold to
China another record high for monthly exports and according to the Hong Kong
Census and Statistics Dept, the total gold shipments to China last year
jumped 94 percent from the 2011 total to over 832 tonnes while imports
were six times higher at 274.684 tonnes.<br />
<br /></div>
<div class="MsoNormal">
"It is not a surprise," said Dan Smith, head of
metals research at Standard Chartered. "Consumer and investment appetite
was quite strong and no one knows how much the central bank is
buying." </div>
<div class="MsoNormal">
"This is a very strong number," said Nick
Trevethan, senior commodity strategist at ANZ in Singapore. "China's
implied gold demand looks set to approach or exceed 1,000 tonnes based on Hong
Kong trade data and the annualised gold production number. The implied demand
could reach 1,050 tonnes if gold inflow from other channels is factored in.” he
said. <br />
<br /></div>
<div class="MsoNormal">
China produced 322.8 tonnes of gold in the first 10 months
of 2012, up 11 percent from a year earlier, said the Ministry of Industry and
Information Technology recently. Physical buying at the start of
2013 was strong as seasonal demand picked up before the Lunar New Year, which
falls on Feb. 10. But buying has since ebbed as prices moved higher and settled
in a range bound mode.<br />
<br /></div>
<div class="MsoNormal">
Meanwhile, back at the ranch, the Virginia House of
Delegates Rules Committee recently passed a bill to
establish “a joint subcommittee to study the feasibility of a United States
monetary unit based on a metallic standard, in keeping with the constitutional
precepts and our nation’s founding principles….” This legislation
authorizing the study widely is expected to sail through the House of Delegates
and may well be embraced by the Virginia Senate with a signature by the
governor.<br />
<br /></div>
<div class="MsoNormal">
The financial and political media have also taken to calling
the gold standard “mainstream.” The London FT for example, published
on August 23, 2012, “The gold standard has returned to mainstream U.S.
politics for the first time in 30 years….”;. The New York Sun editor Seth
Lipsky in The Wall Street Journal , ‘The Gold Standard Goes Mainstream.’ And in
the New York Times, ‘A Gold Standard is Unthinkable No More’.<br />
<br /></div>
<div class="MsoNormal">
The wheels are slowly turning in favor of a gold standard or
at least a return to gold as an important stored value for banks. This
might explain why gold has been quietly elevated to a tier one of the capital
adequacy ratio <a href="http://buying-gold.goldprice.org/2012/06/gold-capital-adequacy-ratios.html">http://buying-gold.goldprice.org/2012/06/gold-capital-adequacy-ratios.html</a>
and why banks are so keen to bolster their gold holdings. Such an action places
a higher value on gold as it is now deemed with a 100 percent weighing instead
of the former 50 percent. It seems that ‘is gold is good’ is becoming a
popular theme for 2013.<br />
<br /></div>
<div class="MsoNormal">
This interest by the heavy players looks like the beginning
of a new gold rally and could signal a steady rise in the gold price.
Perhaps how the time to buy gold before the rally begins.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-standard-are-emerging-from-germany/</div>
<div class="MsoNormal">
http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-standard-emerging-in-china/</div>
<div class="MsoNormal">
http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold-commission-plank-qcould-reverberate-around-the-worldq</div>
<div class="MsoNormal">
http://www.censtatd.gov.hk</div>
<div class="MsoNormal">
http://www.reuters.com/article/2013/02/05/hongkong-gold-china-idUSL4N0B56UG20130205</div>
<div class="MsoNormal">
http://www.forbes.com/sites/ralphbenko/2013/02/04/yes-virginia-there-is-a-constitutional-monetary-unit/</div>
<div class="MsoNormal">
<br /></div>
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<![endif]-->Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-34635018624613529382012-12-29T18:22:00.000-05:002012-12-29T18:22:11.862-05:00Itsy bitsy gold bars all the rage in Switzerland<!--[if gte mso 9]><xml>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-2tBrS6t5yzU/UNeNEFYCtsI/AAAAAAAAAs8/kGgiJB9Iar8/s1600/tiny+gold+bars.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="212" src="http://4.bp.blogspot.com/-2tBrS6t5yzU/UNeNEFYCtsI/AAAAAAAAAs8/kGgiJB9Iar8/s320/tiny+gold+bars.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">itsy bitsy gold bars in Switzerland</td><td class="tr-caption" style="text-align: center;"><br /></td></tr>
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<![endif]-->Itsy Bitsy gold bars are all the rage in Switzerland with
private investors who are keen to queue up and buy gold in the form of small
credit card size bars that can be broken up into bite size chunks as emergency
payments.<br />
<br />
<div class="MsoNormal">
The Swiss refinery Valcambi, part of the U.S. mining giant
Newmont, is keen to bring its bite sized "CombiBar" to, not only Switzerland,
but also the United States and India, the worlds largest gold buyer. </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
According to
Reuters, “Investors worried that inflation and financial market turmoil will
wipe out the value of their cash have poured money into gold over the past
decade. Prices have gained almost 500 percent since 2001 compared to a 12
percent increase in MSCI's world equity index.”<br />
<br /></div>
More and more people are buying gold it seems. According to the World Gold
Council, sales of gold bars and coins were reached $77 billion in 2011, up from
just $3.5 billion in 2002.
<br />
<div class="MsoNormal">
"The rich are buying standard bars or have deposits of physical
gold. People who have less money are buying up to 100 grams," said Michael
Mesaric, CEO of Valcambi. "But for many people a pure investment product
is no longer enough. They want to be able to do something with the precious
metal."<br />
<br /></div>
<div class="MsoNormal">
Mesaric said the advantage of the "CombiBar",
dubbed the "chocolate bar" because pieces can be easily broken off by
hand into one gram squares, is that it can be easily transported and costs less
than buying 50 one gram bars.<br />
<br /></div>
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"The produce can also be used as an alternative method
of payment," he said.</div>
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Valcambi is now building a sales network in India with plans
to launch the CombiBar on the U.S. market next year. <br />
<br /></div>
<div class="MsoNormal">
Meanwhile in Germany demand is strong, "Above all, it's
people aged between 40 and 70 that are investing in gold bars and coins,"
said Mesaric. "They've heard tales from their parents about wars and
crises devaluing money."<br />
<br /></div>
<div class="MsoNormal">
Andreas Habluetzel head of the Swiss business of Degussa, a
gold trading company said, “The CombiBar is particularly popular among
grandparents who want to give their grandchildren a strip of gold rather than a
coin and Demand is rising every week," Habluetzel continued, "In
Germany, people are buying gold in the fear that the euro will break apart or
that banks will run into problems."<br />
<br /></div>
<div class="MsoNormal">
As developments in the euro zone lurch from one crisis to
another, the demand for gold that can be sold in vending machines is also
growing.<br />
<br /></div>
<div class="MsoNormal">
"Sales rise according to the temperature of the
crisis," said Thomas Geissler, whose firm Ex Oriente Lux operates 17 gold
vending machines in Europe, the United States and the United Arab Emirates.</div>
<div class="MsoNormal">
The machines saw record sales in 2010, one day after the
then Deutsche Bank CEO Josef Ackermann raised doubts over whether Greece would
be able to pay its debts.<br />
<br /></div>
<div class="MsoNormal">
Since the launch of the machines, which operate under the
name "GOLD to go", 50,000 customers have withdrawn more than 21
million euros in gold. The average buyer is male, over 50 years old and well
off.<br />
<br /></div>
<div class="MsoNormal">
"Customers are hoarding gold mostly at home as a
precaution against a crisis, just as their fathers and grandfathers did before
them," Geissler said.<br />
<br /></div>
<div class="MsoNormal">
It seems that itsy bitsy gold bars are all the rage not just
in Switzerland but all over Europe and Asia for people that want to buy gold.<br />
<br /></div>
<div class="MsoNormal">
Reference:</div>
<div class="MsoNormal">
http://www.reuters.com/article/2012/12/21/swiss-gold-idUSL5E8NL4N8201212...</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-5767868822690776752012-12-21T18:23:00.000-05:002013-11-23T23:18:11.899-05:00Gold is winning<!--[if gte mso 9]><xml>
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<a href="http://2.bp.blogspot.com/-QiN-DrnAygM/UNOanEizDwI/AAAAAAAAAss/8UPkoomkioU/s1600/Marry+Christmas+from+Goldprice.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img alt="Happy Holiday Season from Goldprice.org" border="0" height="200" src="http://2.bp.blogspot.com/-QiN-DrnAygM/UNOanEizDwI/AAAAAAAAAss/8UPkoomkioU/s320/Marry+Christmas+from+Goldprice.jpg" title="Happy Holiday Season from Goldprice.org" width="320" /></a></div>
It is coming up to the end of the year and a look at why one
should buy gold from the viewpoint of some prominent people around the world is
fitting </div>
<div class="MsoNormal">
This year, the Deutschebank called gold "good
money" and paper "bad money". <br />
<br /></div>
<div class="MsoNormal">
The President of the German central bank, the Bundesbank, paid
tribute to gold as "a timeless classic".<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
A leading member of the policy committee of the People's
Bank of China calls the gold standard "an excellent monetary system".<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In The China Post, a CNN reporter wrote that the "gold
commission" plank in the 2012 Republican platform will "reverberate
around the world". <br />
<br /></div>
<div class="MsoNormal">
The Subcommittee on Domestic Monetary Policy of the U.S.
House of Representatives twice called on economist, historian, and gold
standard advocate Lewis E. Lehrman to testify.<br />
<br /></div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
GoldMoney founder and GATA consultant James Turk, in an
interview with<span style="mso-spacerun: yes;"> </span>King World News, recently
remarked that Western market manipulation can't stop the flow of gold into Asia
and that paper gold owners eventually will realize that they don't really own
the metal but rather a lot of counterparty risk. <span class="style">“At some
point in the future, whether it’s next year or the year after that, people who
own paper gold are going to recognize they have counterparty risk. They
don’t own gold, they only own exposure to the gold price and that exposure is
dependent on their counterparty”.</span><br />
<span class="style"><br /></span></div>
<div class="MsoNormal">
According to Fund Manager Stephen Leeb, "There is a
ritual we see in overnight trading. Gold is usually up $4 or $5 at around
midnight or 1 a.m. East Coast time. I'll be watching gold trade at this time
and I can't count the number of times that in just a minute or two, instead of
gold being up $4 or $5, it's now down $20. No one is trading at 12 or 1 or 2 in
the morning. Somebody is doing this and it always happens when there is no
liquidity. So you have a game of desperation going on here and the Chinese are
aware of this".<br />
<br /></div>
<div class="MsoNormal">
</div>
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Mahatma Gandhi once said, “First they ignore you, then they
laugh at you, then they fight you, then you win”.<br />
</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Well, gold is winning, and so should we all be.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
References:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.nysun.com/editorials/germany-eyes-gold-standard/87997/</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan...</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-24548913550837918002012-12-09T14:24:00.001-05:002013-11-23T23:18:34.416-05:00Gold Rally<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://2.bp.blogspot.com/-QtQoTy3wPwc/UK7sOvAvHKI/AAAAAAAAAsI/Wy9z1cJQC7A/s1600/goldbars.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="167" src="http://2.bp.blogspot.com/-QtQoTy3wPwc/UK7sOvAvHKI/AAAAAAAAAsI/Wy9z1cJQC7A/s200/goldbars.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Rally</td></tr>
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The next gold rally is imminent according to some analysts.</div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
The last big gold rally of 70% ran from December 2008 to June
2011 when the Federal Reserve introduced 2.3 trillion dollars worth of
quantative easing (euphemism for printing more money) in two rounds.<br />
<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
With the imminent never ending quantative easing now
beginning it is very likely we will see a comparable rally in the gold price
coming up over the ensuing months.<br />
<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
At least that is what George Soros and John Paulson appear
to think with their continuing purchases of gold.<span style="mso-spacerun: yes;"> </span>Between them Solos and Paulson own more gold
than many countries and both have proven to be no slouch when it comes to
investing their assets for profit. So what do they known that we don’t?<br />
<br /></div>
<div class="MsoNormal">
According to the World Gold Council, the SPDR Gold Trust
(GLD) holds 1,342.2 tons. </div>
<div class="MsoNormal">
Soros has increased his investment in the trust to mind
boggling 1.32 million shares in the third quarter of this year, the most since his
purchase in 2010, according to a Nov. 14 SEC filing.<br />
<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
And Paulson is the proud owner of an enormous 21.8 million
shares in the SPDR Gold Trust.<span style="mso-spacerun: yes;"> </span>This
makes him the biggest shareholder.<span style="mso-spacerun: yes;"> </span>He
has recently raised his stake by a massive 26 percent in the second quarter of
this year which means that his holding of 66 tons of gold is bigger than many
countries gold reserves including Brazil, Bulgaria and Bolivia.<br />
<br /></div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
Now these guys are not buying up gold because they think
the price is going to drop. Or because they are idling away time, or as a hobby
to play with.<span style="mso-spacerun: yes;"> </span>This is serious money and
these guys play for keeps.<span style="mso-spacerun: yes;"> </span>Google George
Soros and John Paulson and you will see their history and how they continue to
make money hand over fist.<br />
<br /></div>
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This, coupled with the central banks buying gold as fast as
they can, China still buying gold heavily and Indians, ignoring their banks
pleas to stop buying gold, means that those that can are continuing to buy gold
regardless and that means that the gold price is expected to rally very soon.</div>
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As the world financial and economic climate deteriorates and
frantic efforts to bolster it by printing more money and imposing more
austerity measures continue, it is evident the wisest know a gold rally is
imminent and are taking appropriate steps to buy gold.</div>
<div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
Perhaps that is what we should all be doing also.</div>
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<![endif]-->Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-71062870244415190882012-11-21T01:41:00.005-05:002012-11-21T01:52:32.513-05:00Central Banks Returning to the Gold Standard<!--[if gte mso 9]><xml>
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<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-aypS4tAbNiI/UKc-Qlyxk9I/AAAAAAAAAr4/ADhiakjO5j0/s1600/china-gold-2.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="133" src="http://4.bp.blogspot.com/-aypS4tAbNiI/UKc-Qlyxk9I/AAAAAAAAAr4/ADhiakjO5j0/s200/china-gold-2.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Central Banks Returning to the Gold Standard</td></tr>
</tbody></table>
It appears the Central Banks are secretly returning to the
gold standard, giving substance to the evident failure of President Nixon’s
action in 1971 on the then Bretton Woods global financial exchange system.<span style="mso-spacerun: yes;"> </span>Since the gold standard was removed massive
printing of paper money and spiralling inflation, has resulted in the global
financial situation we now find ourselves.<br />
<div class="MsoNormal">
Perhaps the central banks have realised this, or it may be a
case of shoring up the diluted liquidity of their massive currency reserves.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Starting in 2010 central bank gold purchases jumped to a
then all time high of 455 metric tons.<span style="mso-spacerun: yes;">
</span>The biggest buy gold by central banks since 1964.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
This year they are looking at a further 493 tons and Thomson
Reuters of GFMS recently commented that central banks will remain, ‘a
significant gold buyer for some time to come.”</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In a recent interview with William Patalon of EFT Daily
News, Real Asset Returns Editor Peter Krauth explained he completely
agrees with that assessment. <span style="mso-spacerun: yes;"> </span>“You can
see their thinking, Bill … you can see them saying: “We have enough of all
these fiat currencies in our bank reserves – now we want something that’s going
to counter those holdings, that’s a valuable asset and that has all the right
fundamentals in place.’ And that asset is gold.”</div>
<div class="MsoNormal">
Banks have raised the gold capital adequacy ratio* to Tier
One so gold is now viewed as a core capital of equity and disclosed reserves. </div>
<div class="MsoNormal">
Originally it was Tier Three, with a 50% risk
weighing. The Basel Committee for Bank Supervision (or BCBS) met some
months ago and decided that gold should be made a Tier 1 asset for commercial
banks with a 100 percent weighing instead of the existing Tier 3 with just 50
percent weighing. A monumental step in restoring a gold standard.</div>
<div class="MsoNormal">
We are seeing the results of this in the gold market place
with Turkey purchasing 6.8 tons in September, and Brazil buying gold again
after four years.<span style="mso-spacerun: yes;"> </span>1.7 tons in fact.<span style="mso-spacerun: yes;"> </span>Other countries aggressively buying gold
include: South Korea, The Philippines, Kazakhstan, Russia, Mexico, Turkey,
Argentina and the Ukraine.</div>
<div class="MsoNormal">
“All the fundamentals are in place for this to continue,” Continued
Peter Krauth, “These guys tend to have a long time frame in mind. So when you
see a shift like this, it’s a big deal. And the chances are that this could
last for a very long time.”</div>
<div class="MsoNormal">
According to a recent World Gold Council report, gold rose
by over 11 percent and is up 16 percent on a yearly basis, outperforming almost
all the worlds’ stock markets.</div>
<div class="MsoNormal">
To illustrate the point here are the top twenty central
banks gold holdings for 2012.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
European
Union<span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 2;"> </span>10,787.4
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
USA <span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 3;"> </span>8,133.5
<span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Germany<span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 3;"> </span>3,396.3
<span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
IMF <span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 1;"> </span>2,814.0 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Italy<span style="mso-tab-count: 4;"> </span><span style="mso-tab-count: 1;"> </span>2,451.8 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
France<span style="mso-tab-count: 4;"> </span>2,435.4 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
China<span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 2;"> </span>1,054.1 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Switzerland<span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 1;"> </span>1,040.1 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Russia<span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 1;"> </span>936.7 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Japan<span style="mso-tab-count: 5;"> </span>765.2 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Netherlands<span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 1;"> </span>612.5
<span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
India<span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 2;"> </span>557.7 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
European
Central Bank <span style="mso-tab-count: 2;"> </span>502.1 <span style="mso-tab-count: 1;"> </span></div>
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Taiwan<span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 1;"> </span>422.4 <span style="mso-tab-count: 1;"> </span></div>
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Portugal<span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 1;"> </span>382.5 <span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Venezuela<span style="mso-tab-count: 1;"> </span><span style="mso-tab-count: 3;"> </span>372.9
<span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Saudi Arabia<span style="mso-tab-count: 2;"> </span><span style="mso-tab-count: 1;"> </span>322.9
<span style="mso-tab-count: 1;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
United
Kingdom<span style="mso-tab-count: 3;"> </span>9100.3 </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Lebanon<span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 1;"> </span>286.8 <span style="mso-tab-count: 1;"> </span></div>
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Spain<span style="mso-tab-count: 4;"> </span><span style="mso-tab-count: 1;"> </span>281.6 <span style="mso-tab-count: 1;"> </span></div>
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Austria<span style="mso-tab-count: 3;"> </span><span style="mso-tab-count: 1;"> </span>280.0 <span style="mso-tab-count: 1;"> </span></div>
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Although many are reticent about how much gold they are
buying, many of these above have added or are supplementing their gold reserves.
In particular China and India. Both of whom have added hundreds of tones of
gold to their reserves over the past couple of years.</div>
<div class="MsoNormal">
In fact some analysts believe there has been consistent gold
buying over the past 2 years by many Asian countries. “The thing that’s caught
people’s minds is the massive increase in Chinese buying,” remarked Ross Norman
of Sharps Pixley, a London gold brokerage.</div>
<div class="MsoNormal">
On this Peter Krauth stated, “Even if you look at this
conservatively, it’s clear that we’re just at the start of this – meaning the
central bankers are going to be buyers for an extended period. Even if this
upturn in buying only lasts half of [the 22 year downturn], we’re talking 11
years – meaning we’re only two years into this.”</div>
<div class="MsoNormal">
“Some investors look at the current price of gold, and
view it as expensive because it’s more than doubled in the last few years
alone,” Peter said, “But given what I see coming at us, I can say this with a
high degree of confidence: Three or four years from now, we’re going to look
back on this as a period when gold was still cheap, and where the
profit potential was vast, because of where prices are going to go from here.”</div>
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With the central banks buying gold, albeit slowly and
quietly so as not to cause the price to raise, should this be looked at as a enormous
hedge against a potential collapse of paper currency?<span style="mso-spacerun: yes;"> </span>The Central Banks seem to think so.<span style="mso-spacerun: yes;"> </span>Raising the gold capital adequacy ratio to
the first tier. Buying gold like it is going out of fashion. All the indicators
are there. Central Banks are returning, quietly, to the gold standard.</div>
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Now is the time to buy gold, while the price is still low.</div>
<div class="MsoNormal">
* Capital adequacy ratio is the ratio which decides the
ability of a bank to meet its liabilities in the agreed upon time frame. </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
References:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://buying-gold.goldprice.org/2012/06/gold-capital-adequacy-ratios.html</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://etfdailynews.com/2012/11/05/the-secret-return-to-the-gold-standard-gld-iau-sgol-slv/</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.forbes.com/sites/gordonchang/2012/01/29/why-are-the-chinese-buying-record-quantities-of-gold/</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://en.wikipedia.org/wiki/Gold_reserve</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
http://www.gold.org/government_affairs/gold_reserves/</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-73672488913603163562012-11-12T19:40:00.001-05:002012-11-12T19:44:45.284-05:00Gold Derivatives<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-HlO48NFQWJ0/UKGXzVVEqSI/AAAAAAAAArY/d9Tew2Ltp3g/s1600/Derivatives-gold.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://1.bp.blogspot.com/-HlO48NFQWJ0/UKGXzVVEqSI/AAAAAAAAArY/d9Tew2Ltp3g/s200/Derivatives-gold.jpg" width="187" /></a></div>
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<![endif]-->Many people believe
that buying gold derivatives are an easy way to buy gold.<span style="mso-spacerun: yes;"> </span>After all, you don’t need a lot of money to
start with and you can make a quick profit if you do it right.<span style="mso-spacerun: yes;"> </span><br />
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However one can also make a terrible loss. Derivatives
operate on the basis of not actually delivering a product or service.<span style="mso-spacerun: yes;"> </span>The very name tells you there is no product.</div>
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<b style="mso-bidi-font-weight: normal;">What are Gold Derivatives?</b></div>
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A derivative
is something that is based on another source. Derivatives <i style="mso-bidi-font-style: normal;">derive</i> from a product but do not actually represent that product,
in this case gold. When you buy a derivative you are not buying gold but,
instead, buying a paper representation of gold. Examples of derivatives are futures,
option, or warrants. So gold derivatives include the following:</div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;">Gold Futures</b></div>
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A gold future
is simply a deal to trade gold at a specific amount and price, decided now but
with an agreed settlement day sometime in the future. That means you don't have
to pay up front, except for a sort of deposit amount that stakes your claim as
it were. And the seller doesn't need to deliver you any gold before that agreed
upon date either. </div>
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<br /></div>
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A gold futures contract is usually for three months and on the
settlement day at the end of the contract the actual exchange takes place and
the buyer pays up, and the seller delivers the gold. </div>
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Now most futures traders use this delay to speculate. Both
ways. The intention is to sell or buy back anything they have contracted,
before settlement day is reached. At which point they only need to settle any
gains and losses. <span style="mso-spacerun: yes;"> </span>This means they can
trade in very large amounts. They take bigger risks of course but the rewards
are much higher.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Of course any losses are magnified also as
they have to make good on them if they judge wrong.</div>
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<b style="mso-bidi-font-weight: normal;">Gold Options</b></div>
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A gold
option is a contract to buy gold or sell gold bullion at a future date at
a set price. The delivery date, quantity and price are all predetermined and
the option is simply that. An option. It involves a choice and the purchaser is
not obligated to actually excise the option and buy (or sell) The similarity to
the gold futures contract is that the price, date of settlement and the amount
are all preset at the start of the contract.<span style="mso-spacerun: yes;">
</span>The main difference is that the option involves a choice whereby the
futures contract is an obligation. </div>
<div class="MsoNormal">
Because there is no gold backing either a gold futures
contract or an option, and therefore no responsibility or ethics involved, gold
derivatives have escalated to the ridiculous sum of at least $1.1 quadrillion
world wide. <span style="mso-spacerun: yes;"> </span>This is far in excess of the
total actual gold world wide and so such contracts are impossible to fill.<span style="mso-spacerun: yes;"> </span>People are buying and selling contracts for
gold which they do not have. </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Gold Warrants</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Similar to a
long call type of option. Warrants however are issued by companies and usually
as a private placement. <span style="mso-spacerun: yes;"> </span>That means most
are privately held and not traded on the open market place.<span style="mso-spacerun: yes;"> </span>Warrants are usually traded and not exercised.</div>
<div class="MsoNormal">
Warrants are a very tiny part of the gold derivatives
market.<span style="mso-spacerun: yes;"> </span>The bigger slice is help by gold
futures.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Conclusion</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
One could
call gold derivatives fake gold.<span style="mso-spacerun: yes;"> </span>They
are not based on gold, but use the concept or word even of gold to represent a
paper trade. Gold is being used in name only.<span style="mso-spacerun: yes;">
</span>You could quite easily trade say, banana derivatives, or Bunsen Burner* derivatives
and gleefully trade away 1.1 quadrillion Bunsen Burners and never see a banana
or a Bunsen Burner in your life.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal">
Gold derivatives bear no relationship to gold at all.
Eventually, like any house built of cards, this will come crashing down
eventually and all hell will break lose. The winners out of all this will be
those banks, commercial institutions and individuals who actually hold real
gold.<span style="mso-spacerun: yes;"> </span>And the price of gold is going to
sky rocket when the gold derivative house comes crashing to the ground.</div>
<div class="MsoNormal">
Hence the importance of buying gold now as no one can be
quite sure when the gold derivatives crash will occur and the price of gold
will escalate.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-42715546196182937452012-11-12T19:39:00.001-05:002012-11-12T19:40:20.940-05:00Buy Gold on Dhanteras<!--[if gte mso 9]><xml>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://2.bp.blogspot.com/-73s0L68mK8E/UKGARPAmV5I/AAAAAAAAArA/8cR3rViFPTo/s1600/Dhanteras-celebrations.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img alt="Buy Gold on Dhanteras" border="0" height="320" src="http://2.bp.blogspot.com/-73s0L68mK8E/UKGARPAmV5I/AAAAAAAAArA/8cR3rViFPTo/s320/Dhanteras-celebrations.jpg" title="Buy Gold on Dhanteras" width="244" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Buy Gold on Dhanteras</td></tr>
</tbody></table>
<div class="MsoNormal">
In India people are queuing up to buy gold on Dhanteras in
jewelery shops all over the country.</div>
<div class="MsoNormal">
On the festival of Dhanteras it is considered auspicious to
buy gold and silver and many jewelery shops and dealers are offering big discounts
to attract customers.<span style="mso-spacerun: yes;"> </span>It is indeed a
buyers market.</div>
<div class="MsoNormal">
The manager of Tanishq, Juti Kalita, said, "For the
first time in years, gold prices has shot through the roof on Dhanteras. But
surprisingly, this has not affected sales. Many customers are also making
advance bookings. Gold bangles, rings, earrings, sets are flying off the racks.
There is a great demand for gold and silver coins."</div>
<div class="MsoNormal">
And Preeti Agarwal, the manager of Manik Chand and Sons
stated, "We are providing up to 30% discount on the making charge and for
every purchase of 1 lakh, one gets a gold coin for free. We are also offering
discounts of up to 10% on diamond jewellery."</div>
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The gold price is the highest in five years and this seems
to spur Buyers on who are willing to splurge in this festive season and buy
gold on Dhanteras.</div>
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According to Rajiv Nath, manager of MP Jewellers,
"Apart from gold and silver coins, buyers are increasingly going for
lightweight jewellery. This year's sales have surpassed the sales of last
year."</div>
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Taru Deka, a resident of Silpukhuri was seen browsing
through the shelves of a jewellery shop to make a pick. She said,
"Although the prices are sky-high, I have come to buy some bangles because
it considered auspicious."<span style="mso-spacerun: yes;"> </span>And Rani
Dutta of Beltola echoed similar sentiments. "I bought some gold coins
because investing in gold is a good thing, especially for the future," she
said.</div>
<div class="MsoNormal">
"Dhanteras also known as Dhantrayodashi is celebrated
on the 13th day of Krishna paksa in the month of Ashwin. On this day, people
should buy gold coins to usher in prosperity and wealth. The gold coins should
be kept on the right hand side of Kuber in a pot. Kuber is placed on the left
side of Laxmi." Said Astrologer Pannalal explaining the importance of
Dhanteras</div>
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Of course, to buy gold on Dhanteras is not the only time to
accumulate gold. With the gold price still low anytime is the time to buy gold.</div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-23379917481831531732012-11-12T19:38:00.001-05:002012-11-12T19:39:04.651-05:00Where has all the Deutsch Gold Gone? Long Time Passing<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-7_CLeyVqcCw/UKGWKTNKk2I/AAAAAAAAArQ/S6VSnYn1iu4/s1600/where+has+all+the+german+gold+gone.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img alt="Where has all the Deutsch Gold Gone?" border="0" height="153" src="http://4.bp.blogspot.com/-7_CLeyVqcCw/UKGWKTNKk2I/AAAAAAAAArQ/S6VSnYn1iu4/s320/where+has+all+the+german+gold+gone.jpg" title="Where has all the Deutsch Gold Gone?" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Where has all the Deutsch Gold Gone?</td></tr>
</tbody></table>
Yes, where has all the German gold gone?<span style="mso-spacerun: yes;"> </span>93 BILLION dollars worth of gold apparently
sitting in the US Federal Reserve in New York and the Germans being refused
permission to see it?<span style="mso-spacerun: yes;"> </span>This gives credibility
to the often pronounced theory that there is no gold, or very little, in the
Federal Reserve. Otherwise why would the Fed not allow Germany to see its own
gold?</div>
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Maybe they spent it.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
You know how it is.<span style="mso-spacerun: yes;">
</span>Someone gives you 93 billion dollars worth of gold to look after, Well
wars come and go, and they are expensive. Then the economy has its ups and
downs.<span style="mso-spacerun: yes;"> </span>The dollar gets a pounding and,
well one thing leads to another and it gets (cough cough) spent.<span style="mso-spacerun: yes;"> </span>How embarrassing!<span style="mso-spacerun: yes;"> </span>Of course you can’t open the doors to the Fed
and expose all that … Emptiness. I mean who would ever trust you again? </div>
<div class="MsoNormal">
Perhaps the Federal Reserve’s alternative to gold is
stone.<span style="mso-spacerun: yes;"> </span>Stonewalling that is. The Fed is
refusing to allow the Germans to see their gold.<span style="mso-spacerun: yes;"> </span>According to Wealth Wire, </div>
<div class="MsoNormal">
“Previous and repeated requests were only partially
addressed. Bundesbank staff members were allowed to see the facility in 2007,
but they reportedly only made it to the anteroom of the German reserves.</div>
<div class="MsoNormal">
Bundesbank auditors made a second visit in May 2011. This
time one of the nine compartments used to store Germany's gold was opened. Only
a few bars were pulled out and weighed, but that was it.”</div>
<div class="MsoNormal">
And details of that itsy bitsy little inspection was blacked
out in a report, “Out of consideration for the Federal Reserve Bank of New
York.”<span style="mso-spacerun: yes;"> </span>Go figure.</div>
<div class="MsoNormal">
Germany owns 1,536 metric tons of gold, currently worth around
$93 billion at today’s’ prices. Perhaps they should call the bluff and ask for
the gold to be returned to Germany?<span style="mso-spacerun: yes;"> </span>Do a
Venezuela perhaps?<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
The Feds refusal to allow an inspection and in a recently leaked
report from the German auditors about the gold reserves entrusted to the Fed, Carl-Ludwig
Thiele, a Bundesbank board member said, "I would like more transparency on
the issue."</div>
<div class="MsoNormal">
Thiele was then summoned to Berlin to explain his comment to
a parliamentary budget committee and stated to the committee that, "all
the gold has to be shipped back."</div>
<div class="MsoNormal">
According to GATA, “…the German financial journalist Lars
Schall called attention to remarks delivered Thursday by a member of the
executive board of the German Bundesbank, Andreas Dombret, at a reception held
at the Bundesbank office in New York in the presence of the president of the
Federal Reserve Bank of New York, William Dudley. Dombret's remarks, appended
here, confirm that, as GATA often has reported, Germany's gold reserves are
held in large part at the New York Fed to facilitate their presumably secret
trading, since, as Dombret notes, "Frankfurt is not a gold-trading
center."</div>
<div class="MsoNormal">
Despite a pledge from the Bundesbank to retrieve 150 tones
of gold from overseas, it is moot point how much they will really get to
inspect. Currently it is 11 percent. 89 percent to go.<span style="mso-spacerun: yes;"> </span>Don’t hold your breathe. </div>
<div class="MsoNormal">
If the fed has spent it, or lent it out or ate it, they are
not saying and we may never know. <span style="mso-spacerun: yes;"> </span>The
question remains then, where has all the Deutsch Gold Gone?<span style="mso-spacerun: yes;"> </span>Long time passing.</div>
<div class="MsoNormal">
<br /></div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-77175452119011245182012-10-25T16:38:00.001-05:002012-10-25T17:12:19.391-05:00Gold Price Manipulation<!--[if gte mso 9]><xml>
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<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-cysQmReR-YI/UIior0TQPBI/AAAAAAAAAqc/2vkphsExMys/s1600/24-gold2.png" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="161" src="http://3.bp.blogspot.com/-cysQmReR-YI/UIior0TQPBI/AAAAAAAAAqc/2vkphsExMys/s200/24-gold2.png" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Price Manipulation</td></tr>
</tbody></table>
Gold price manipulation is not new and has frequently been noted
by the Gold Anti-Trust Action Committee (GATA).<br />
<br />
<div class="MsoNormal">
As the instability of world economies grows the intensity
and proliferation of gold price manipulation grows.</div>
<div class="MsoNormal">
This nefarious activity has been around since at least 1934
when the Gold Reserve Act was instituted to set up the Exchange Stabilization
Fund within the Treasury Department.<span style="mso-spacerun: yes;"> </span>It
was authorized to trade in gold and other financial instruments. </div>
<div class="MsoNormal">
Since then the Gold Reserve Act has been amended to allow
the Exchange Stabilization Fund to trade in an expanded range of financial
instruments and to do that in secret, away from the prying eyes of Congress AND
Jo Blow public.* </div>
<div class="MsoNormal">
As well as a historical record of gold price manipulation
which can be found at the GATA website, a recent report originated by the German
Government’s auditors was critical of the German Central bank, Bundesbank for
its lack of diligence in custodianship of Germanys Gold Reserves.</div>
<div class="MsoNormal">
According to GATA, “The auditors report disclosed that the
Bundesbank had secretly sold some of the German gold reserves vaulted at the
Bank of England in London. But since the sale of Germany's gold in London
apparently did not reduce the total official holdings in Germany's gold
reserve, the sale was probably part of a gold swap with another central bank.
That is, it probably was a transaction in which Germany sold its gold in London
on behalf of that other central bank and in exchange took title to gold owned
by the other central bank and vaulted elsewhere.”**</div>
<div class="MsoNormal">
</div>
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Although GATA have been in front of the investigation into
the deliberate gold price manipulation by Central banks, they are not the only
ones to observe and, indeed, take advantage of this.</div>
<div class="MsoNormal">
The Chinese Government, for example, has been well aware of
the price of gold firmly held down and has taken advantage of that with extraordinary
highest ever buying of gold over recent years.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
U.S. State Department cables obtained and published by
Wikileaks last year exposed the Chinese Government awareness of the gold
suppression scheme and china wisely, for them, did not expose it since it
enabled them to buy gold, and even gold mines, at a fire sale price. <span style="mso-spacerun: yes;"></span></div>
<div class="MsoNormal">
In an interview with, Zhou Qiren, Dean of Peking
University’s National School of Development, he said, “… a global system in
which the values of currencies were pegged to gold would make “an excellent
monetary system.” He went on, “if the currency of each major country is bound
to gold, financial headaches would of course be reduced ... it would be
impossible for [U.S. Federal Reserve Chairman Ben] Bernanke to print 600
billion USD to purchase long-term debt ... (and) the gold standard would
effectively prevent each country’s government from recklessly levying
‘inflation taxes’ domestically and passing troubles to others by manipulating
currency exchange internationally.”</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
In December 2011, Zhang Jianhua, research director of the
People’s Bank of China, also observed that “no asset is safe now. The only
choice to hedge risks is to hold hard currency — gold.”</div>
<div class="MsoNormal">
So China knows all about the gold price suppression scheme, and
may be a jolly good indication why China is accumulating gold so furiously. </div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
As financier Christopher Potter points out in a column for
the Lehrman Institute’s TheGoldStandardNow.org, </div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
“China is preparing for a world
beyond the inconvertible paper dollar, a world in which the renminbi,
buttressed by gold, becomes the dominant reserve currency.” Potter’s article,
“China’s Preparing for the End Game — Are We Paying Attention?” points out that
the Chinese government is expected to own more gold than the U.S. government in
five years.”***</div>
<div class="MsoNormal">
What will happen to gold price manipulation then?<span style="mso-spacerun: yes;"> </span>More, what will happen to the gold price
then?</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal">
Perhaps now is the time to buy gold while the price is still
at fire sale levels.</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
References:<br />
*http://www.treasury.gov/resource-center/international/ESF/Pages/esf-index.aspx
<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
**http://www.gata.org/</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
*** http://www.thegoldstandardnow.com/featured-articles/1682-china-grasps-value-of-gold-even-if-us-doesnt</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-54571882085791152712012-10-18T17:47:00.000-05:002012-10-18T18:02:27.610-05:00Gold Price and Currency<!--[if gte mso 9]><xml>
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<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/-Vg5MQCU8AcY/UHd6vf7X9cI/AAAAAAAAAqI/j7Eo-8SVTMQ/s1600/Gold+Coins+and+Bars-part2.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="133" src="http://4.bp.blogspot.com/-Vg5MQCU8AcY/UHd6vf7X9cI/AAAAAAAAAqI/j7Eo-8SVTMQ/s200/Gold+Coins+and+Bars-part2.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Price and Currency</td></tr>
</tbody></table>
What is the relationship between the gold price and
currency?<span style="mso-spacerun: yes;"> </span>More and more analysts and
financiers are beginning to realise that printing a never ending stream of currency
is not going to bring the world finances out of debt. In fact it simply exacerbates the problem.<br />
<br />
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This is affecting the gold price as, while the value of gold
remains steady, more currency is needed to buy gold and so the apparency is
that the price of gold changes. As was recently pointed out by one analyst, this
is grabbing the wrong end of the stick.<span style="mso-spacerun: yes;">
</span>In point of fact it is not the value of gold that rises and falls, is
the purchasing power of national currencies that rise and fall. <span style="mso-spacerun: yes;"> </span>Gold value continues to remain stable as it
has done for hundreds of years.<br />
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This persistent and continual printing of currency does not
accumulate wealth. It simply increases the supply of currency and reduces its
‘rarity’ value.<span style="mso-spacerun: yes;"> </span>The more money that is
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and services. The more currency printed in an effort to pay off debt the more
the debt will increase as it is the very act of printing worthless currency
that increases debt. The more debt is created through the printing of currency
and the more currency is then printed to pay for the debt created by the
printing of money. It’s not just a dizzy circle it is also a dwindling spiral.<span style="mso-spacerun: yes;"> </span><br />
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When the price of gold rises there is simply a transfer of
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gold.<span style="mso-spacerun: yes;"> </span>It is not new wealth created but
simply a transfer of wealth.<span style="mso-spacerun: yes;"> </span>One could
use gold to buy goods and services and, in fact, this has been done and is
being done many times.<br />
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In addition, gold is ‘good value’. Its value does not become
eroded as currency does by the accumulation of more gold.<span style="mso-spacerun: yes;"> </span>One does not ‘print’ more gold.<span style="mso-spacerun: yes;"> </span>One can dig up, out of the ground more gold
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reduced the value of gold one wit. <span style="mso-spacerun: yes;"> </span>All
one has done is simply accumulated more wealth.<br />
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Some have said that gold can be overpriced.<span style="mso-spacerun: yes;"> </span>This is nonsense of course as, again; the
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gold.<span style="mso-spacerun: yes;"> </span><br />
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Is gold over valued?<span style="mso-spacerun: yes;">
</span>Hardly.<span style="mso-spacerun: yes;"> </span>The value of gold in
purchasing power of goods and services has not changed in the past 50 or so
years and seems unlikely to change in the foreseeable future.<span style="mso-spacerun: yes;"> </span>Again gold is not an investment, it is simply
money.<span style="mso-spacerun: yes;"> </span>It has a purchasing ability. It
can be exchanged for goods, services and indeed even currency.</div>
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The true relationship between the gold price and currency
is becoming more apparent in that as more and more currency is printed to solve
debt problems the more currency will be needed to buy gold and so the price of
gold will continue to rise.<br />
<br />
Good for those people that prefer the gold price to currency. </div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-27405701716232841122012-09-17T15:34:00.000-05:002012-09-17T15:34:35.053-05:00Buy Real Gold, not Paper Gold<!--[if gte mso 9]><xml>
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<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-6czYZRcLpEc/UE_4cTcoqOI/AAAAAAAAAp0/1oY2O27QmkE/s1600/not+enough+gold+to+go+around.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="200" src="http://3.bp.blogspot.com/-6czYZRcLpEc/UE_4cTcoqOI/AAAAAAAAAp0/1oY2O27QmkE/s200/not+enough+gold+to+go+around.jpg" width="197" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Buy real gold not paper gold</td></tr>
</tbody></table>
Buy real
gold, not paper gold.<br />
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
What is
paper gold?<span style="mso-spacerun: yes;"> </span>Paper gold is a substitute
for real gold.<span style="mso-spacerun: yes;"> </span>Some institutions, usually
banks and Asian Banks in particular, offer an alternative to owning real gold
on the basis that it is easy, convenient, and safe.<span style="mso-spacerun: yes;"> </span>In fact it is usually very unsafe and not unlike
buying a gold exchange traded fund (gold etf) in which one does not actually own gold at
all.<span style="mso-spacerun: yes;"> </span>Paper gold is simply a piece of
paper that represents the gold value with no guarantees. It does not mean you
own gold but are simply a creditor of the institution who issued the piece of
paper (often a nice attractive certificate). This applies to pool accounts,
future accounts, the various gold exchange traded funds, Gold ‘passbook’
accounts and a myriad of other names for basically the same thing. A piece of
paper with the word gold written on it.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
When it
comes to buying gold, there is nothing like the real McCoy.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Paper gold,
in fact, is considered by many analysts to be a tool used by banks to ‘manipulate’
the gold price, since it is easier to buy and sell paper gold with the press of
a button than to actually buy and sell real gold.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Important
advantages to buying real gold bullion are:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Gold bullion
cannot go bankrupt.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Gold bullion
retains its value regardless of the gold price.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Gold bullion
is valued all around the world.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Gold Bullion
does not depend on any other factors to retain its value. I.e. it cannot be
manipulated by buying and selling it.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Unlike paper
gold, real gold bullion can be redeemed.<span style="mso-spacerun: yes;">
</span>Paper gold has the real potential to be subject to bankruptcy.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-right: 1.0cm;">
Gold is independent of states,
currencies, productivity and credit worthiness. Some economic or political
influences may affect the price of gold, but its value and its acceptability
remains independent of them.<br />
<br /></div>
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Experts advise private investors to hold between 5 and 10%
of their wealth in the long term in precious metals. Experience has shown that
the regular purchase of gold coins helps to protect the smaller investor
against price fluctuations.<br />
<br /></div>
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Gold has always been prized as precious and valuable. Over
the years gold has proven itself to be one of the most reliable stores of
value.<br />
<br /></div>
<div class="MsoNormal">
Despite possible price fluctuations on the open market, the
value of gold has remained remarkably stable and repeatedly demonstrates the tendency
to rise.<br />
<br /></div>
<div class="MsoNormal">
Gold is traded around the globe 24 hours a day. With gold
you possess an international currency which can always be sold around the world
at any time.<br />
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
When you own
real gold bullion you OWN the gold bullion.<span style="mso-spacerun: yes;">
</span>Not sharing gold with others and therefore suffer the potential of not
receiving your gold should you choose to redeem it, because ‘there is not
enough to go around.’</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Trading in
paper gold is also considered a non protected deposit.<span style="mso-spacerun: yes;"> </span>Should the bank go bankrupt (and they do) you
can loose all your investment.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
For example
the Hang Seng Bank offers a paper gold account but this type of account is NOT
protected by the Deposit Protection Scheme in Hong Kong. Further more, repayment
under the Accounts are NOT guaranteed by the Hong Kong SAR Government's
Exchange Fund.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
You can find
this lack of protection for the account holder applies in all the respective
countries for the following banks including:</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
ANZ
Singapore - Gold Account</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Bank of
China - Precious Metals Passbook Account </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
HSBC - Gold
Passbook</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
ICBC -
Industrial and Commercial Bank of China - Paper Gold Scheme</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Maybank -
Gold Investment Account </div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Shanghai
Commercial Bank <span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
UOB
Singapore - Gold Savings Account</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
In fact,
when it comes down to it, there is no substitute at all for gold and it is
highly recommended that, if you want to buy gold, you buy real gold, not paper
gold.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-23548851306911731772012-09-11T07:06:00.000-05:002012-09-11T07:06:24.450-05:00Buy Gold in Russia<!--[if gte mso 9]><xml>
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<a href="http://4.bp.blogspot.com/-VhCeOk-m-eo/UE8pG9gYSDI/AAAAAAAAApg/lxtTm7OC57A/s1600/russiangoldcoin.gif" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://4.bp.blogspot.com/-VhCeOk-m-eo/UE8pG9gYSDI/AAAAAAAAApg/lxtTm7OC57A/s200/russiangoldcoin.gif" width="200" /></a></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><span style="font-size: 16.0pt; line-height: 115%;"></span></b>To buy gold in Russia one can simply go to a Russian bank
and buy investment gold coins.<span style="mso-spacerun: yes;"> </span>Russian
banks are selling investment gold coins the appeal of which is due to the
exemption of VAT on the coins and no import duty. </div>
<div class="MsoNormal">
According to the World Gold Council in their recent 2012
report, the two main forms of gold investment in Russia are physical bullion
such as gold coins and gold bars, and unallocated gold accounts. The Sberbank
of Russia is probably the most dominant bank offering unallocated Metal
Accounts but as one does not have actual ownership of the gold in these
accounts but simply ‘share’ the gold, this is not recommended as banks and
governments have a habit of using the assets of others in times of need.<span style="mso-spacerun: yes;"> </span>Better to actually have and hold the gold you
buy.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Buying real gold bullion in Russia is recommended as Russia has
a healthy gold production, with 8 percent of the world’s gold mine production
and Russian gold demand remains strong at an annual growth rate of almost 35
percent.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In 2011, Russia had total gold reserves of 5000 tonnes and
this seems set to increase.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Most of Russian gold comes from the regions of Amur,
Irkutsk, Khabarovsk, Kransnoyyarst, Magadan and Sakha-Yakutia. The largest
Russian Gold producer is Polyus Gold International (Polyus) and 9th largest in
the world. Other big producers are Polymetal Kinross Gold Corp. Petropavlovsk
plc and High River Gold and GV Gold. The 4 largest gold mines in Russia produce
nearly 40% of the annual Russian gold production.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
For the past three years Russia has also been buying gold at
a rate of 10.2 tonnes per month.<span style="mso-spacerun: yes;"> </span>This is
an incredible amount of gold and gives rise to speculation that Russia is
thinking in terms of gold being used to back its currency.</div>
<div class="MsoNormal">
In fact, Russia has also been a proponent of gold being
included in a new world currency basket based on special drawing rights issued
by the IMF. Alexei Ulyukayev, CBRs first Deputy Chairman not long ago stated
that “for Russia gold will always be a natural quality asset."Bloomberg 3<sup>rd</sup>
March 2010. And this is demonstrated with the CBR (Central Bank of Russia)
showing a preference for gold in the management of its reserves.<span style="mso-spacerun: yes;"> </span>Gold as a component of Russia's reserves was
equal in 2003, then steadily dropped to a low point in 2008 and has since been
on a heavy the rise again.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Russian demand for gold jewelry continues to grow at about
8.7 percent per annum as it has over the past ten years and in 2011 rose 16.3
percent, reaching 76.7 tonnes.<span style="mso-spacerun: yes;"> </span>Russia is
now the forth largest gold jewelery consumer behind India, China and the US.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As the Russian economy continues to grow at almost 4 percent
a year we can expect to see more people buying gold and increased demand in
investment gold.</div>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-38565718359600023452012-07-15T18:19:00.002-05:002012-07-15T18:28:17.857-05:00Gold Price vs Gold Price vs Gold Price<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://2.bp.blogspot.com/-yyI-ARUzr60/UANPEz30dnI/AAAAAAAAAog/ZxS2379LlL0/s1600/bars-of-gold.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="200" src="http://2.bp.blogspot.com/-yyI-ARUzr60/UANPEz30dnI/AAAAAAAAAog/ZxS2379LlL0/s200/bars-of-gold.jpg" width="145" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Gold Bullion</td></tr>
</tbody></table>
<div class="MsoNormal">
There is more than one gold price it seems. In fact there
are three.<br />
<br />
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Spot Gold Price</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Gold Futures Price</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Real Gold Price</b><br />
<br />
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Spot Gold Price</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
Firstly
there is the Spot Gold Price. The spot price of gold refers to the price paid
immediately upon delivery of gold on order. The spot price of gold is updated
throughout the day around the world and can be seen posted on many
websites. It is posted live on
goldprice.org also.<br />
<br />
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
</div>
<div class="MsoNormal">
It is the price that gold is being bought and sold on the
Comex (Commodity Exchange) in New York. A gold price is also set by the five
members of the London Gold Pool<sup>1 </sup>and is used as a benchmark for the
pricing of gold, gold products and derivatives world wide. The spot gold price
is often regarded as the actual or real value of gold at any given time in the
marketplace. This is in contrast to the future gold price which is the <i style="mso-bidi-font-style: normal;">expected</i> value of gold at some time in
the future.<sup>2</sup><br />
<br />
</div>
<div class="MsoNormal">
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<b style="mso-bidi-font-weight: normal;">Gold Futures Price</b></div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
So the Gold
Futures Price is the price to be paid on gold at some future date rather than
right now. This is the gold price you
often see glibly given in the media as the ‘gold price’. Sometimes they say ‘gold
<i style="mso-bidi-font-style: normal;">futures’</i> price but sometimes they omit
the word future giving the apparency that this is the actual gold price when it
is not.<br />
</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
<br /></div>
<div class="MsoNormal">
In pricing gold futures, the futures price is determined
using the spot price, the risk free rate and time to maturity of the contract
(along with any costs associated with storage or convenience). It also includes
the expected change to the price of gold.
The Gold futures price, as has been noted frequently by various
analysts, is subject to manipulation such as short selling or shorting for
example.<br />
</div>
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<br /></div>
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Short selling, in this case, is selling gold that you do not
own but that you promise to deliver at some time in the future. How this works
is that your broker lends you the gold from their or another’s (broker)
inventory. The shares will be sold and the funds credited to your account. Eventually you will need to close the short by
buying back those shares (this is called covering) and return them to your
broker. Now people that short sell are
betting that the price will drop so they can then buy back the gold at a lower
price and make a profit on the difference. If the price rises, of course, you
would have to buy back at the higher price and consequently lose money. It is this manipulation that causes the price
of gold to be so volatile.<br />
<br />
</div>
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This is all done on paper you understand, no actual gold
changes hands. The buying and selling
takes place before the designated time is up. Other complexities can enter into this but
essentially this is a paper gold price more than anything else.<br />
<br />
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</div>
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<b style="mso-bidi-font-weight: normal;">Real Gold Price</b></div>
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The real
gold price however is what would someone be willing to pay for gold in the open
market place? If gold could be bought on
the open market (and it can if you know where to go) you can buy all sorts of
gold from gold bullion to nuggets, coins to blanks, gold biscuits to gold
jewelery. There is invariably a premium
to pay but even so the material value people place on gold determines the real
price people will pay. Check out the volume and prices of gold in such places
as China and Indian and you get a real sense of the value people have in
storing their assets in gold.<br />
<br />
</div>
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</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
This can
easily be seen with the price that gold is selling for on eBay. Checking the eBay gold prices, for example, (<a href="http://goldprice.org/ebay-gold-prices/">http://goldprice.org/ebay-gold-prices/</a>)
shows that gold generally sells for a minimum of around 4 percent and up to 18
or so percent above the spot or futures price.
The highest commanding gold is the Canadian Maple Leaf one ounce gold
coins at about 18 percent over premium with the American Gold Eagle close
behind at 14 percent. Gold bullion is up
to 5 percent on average (the price changes on a regular basis and can be seen
if you refresh the page every few minutes) so the spot price of gold you see in
the media is generally the lesser price or cheaper if you will.<br />
<br />
</div>
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<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-8kGfP2uYNIM/UANOs1M0oVI/AAAAAAAAAoY/JumIRb0xmlA/s1600/eBay+gold+price+comparison+chart.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="171" src="http://2.bp.blogspot.com/-8kGfP2uYNIM/UANOs1M0oVI/AAAAAAAAAoY/JumIRb0xmlA/s400/eBay+gold+price+comparison+chart.jpg" width="400" /></a></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
This is a
screenshot of today’s current prices.</div>
<div class="MsoNormal" style="margin-bottom: .0001pt; margin-bottom: 0cm;">
</div>
<div class="MsoNormal">
So there is more than one gold price it seems. You can also calculate your gold price by
going to <a href="http://goldprice.org/Calculators/Gold-Price-Calculators.html">http://goldprice.org/Calculators/Gold-Price-Calculators.html</a>. </div>
<div class="MsoNormal">
Which one is the right one? Well the one that people are willing buy gold
for of course, the real gold price!<br />
</div>
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<br />
<br /></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><sup>1</sup></b> <b style="mso-bidi-font-weight: normal;"><sup><a href="http://goldprice.org/buying-gold/2007/04/london-gold-prices.html">http://goldprice.org/buying-gold/2007/04/london-gold-prices.html</a></sup></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><sup>2</sup></b> <b style="mso-bidi-font-weight: normal;"><sup><a href="http://goldprice.org/gold/2009/01/spot-gold-price.html">http://goldprice.org/gold/2009/01/spot-gold-price.html</a></sup></b></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-19850588.post-45905775621004033662012-07-13T19:47:00.002-05:002012-07-13T20:22:43.710-05:00A Personal Gold Standard<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://1.bp.blogspot.com/-aawWjFPkj5Q/UADAn5X_HyI/AAAAAAAAAoM/EPaRayl9tKk/s1600/A+Gold+Standard.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="181" src="http://1.bp.blogspot.com/-aawWjFPkj5Q/UADAn5X_HyI/AAAAAAAAAoM/EPaRayl9tKk/s200/A+Gold+Standard.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">A personal gold standard</td></tr>
</tbody></table>
<div class="MsoNormal">
Why not have your own personal gold standard?<br />
</div>
<div class="MsoNormal">
Some people have started doing that already. Brian, in
Manchester, UK sold his house and turned all his cash into gold.<br />
</div>
<div class="MsoNormal">
"I started in 2005 and now I've got £200,000 worth -
about half of what I own - in gold. If I kept all my money in the bank, the
value of my work would either devalue over the long-term or it would be wiped
out."<br />
</div>
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And Frances, who sold her flat in 2008, and investing 40,000
pounds in gold in a vault in Switzerland also stated, "I don't fear a financial
Armageddon, but I do fear governments, in their desperate search for wealth,
constantly printing more money to deal with the debt that they have at the
expense of people like me. So I need to protect against that."<br />
</div>
<div class="MsoNormal">
Their concern, like many, is that inflation will erode the
value of their savings over time and banks, concerned with their own self
interest will fail to protect them if the financial crisis deepens.<br />
</div>
<div class="MsoNormal">
Many people now are converting their assets or fortunes
directly to gold. Putting them on a
personal gold standard if you like.<br />
</div>
<div class="MsoNormal">
Not good according to DeAnne Julius Former member of The
Bank of England's Monetary Policy Committee.
He stated, “I think to put your faith in gold as the basis of a
country's monetary system would be extremely foolish” </div>
<div class="MsoNormal">
So Johnny Q public is being encouraged to buy freshly
printed ‘QE’ paper money while banks are furiously buying up as much gold as
they can possibly lay their hands on. It’s
the old story, don’t do as I do, do as I say.</div>
<div class="MsoNormal">
But more and more people are wising up and piling assets
into gold or silver. More and more
people are adopting their OWN personal gold standard.<br />
</div>
<div class="MsoNormal">
The gold price is currently being held down. Reports are now
even surfacing in the mainstream media of gold price manipulation as the price
is firmly help down so banks can buy, virtually at cost (Gold mining companies
operate on a basis of requiring 1300 minimum per ounce in order to cover costs
and need at least 1400 per ounce to make a profit).<br />
</div>
<div class="MsoNormal">
Meanwhile, back at the ranch, china is buying up as much
gold as she can while hoarding all its own gold, none of which is for export.<br />
</div>
<div class="MsoNormal">
According to a Gold Council recent report for the first
quarter of 2012, “Gold demand in China was boosted by the local New Year
holiday to a record 255.2 tonnes, making it the largest consumer market during
the quarter.”</div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
It is expected that w<span style="color: black;">ithin the next five years, China will
announce an update of its gold reserves and this is likely to be within the
region of 5,000 tons, making it the second largest official owner of gold in
the world. </span></div>
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<br /></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: .0001pt; margin-bottom: 0cm;">
<span style="color: black;">This is likely to given them a firmer control over
the gold market and all attempts by the West to hold prices down will then prove
futile.<br />
<br />
One analyst stated, “China will probably make this announcement on a weekend.
By the time trading resumes, the gold price will have 'gapped up'.” <br />
<br />
$5,000 an ounce is, then, entirely probable, if not higher and </span><span style="color: black;">wealth would
instantly transfer from bondholders to gold holders.</span><br />
<br />
<span style="color: black;">This will be what the banks are patiently waiting for as they quietly accumulate gold in their coffers. Their reserves will then be 'safe'.</span><br />
<br />
<span style="color: black;">It will also be a boon to those who have set up their own personal gold reserve. </span></div>
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<br /></div>
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</span>Unknownnoreply@blogger.com0