Yessssss!!!! Gold Always believe in .... Gold, Your indestructible, GOLD!!!

[Letsbereal]

Gold Prices Settle at Another Record High
6 October 2010, (The Street)
http://finance.yahoo.com/news/Gold-Prices-Pop-on-Weak-Jobs-tsmf-1536069485.html

Excerpt:

Gold prices have gained 2% this week on high volume. Most analysts expect any profit-taking to be met with dip-buying to support higher prices.

James Moore, analyst at thebulliondesk.com, said the buying "mentality looks set to provide additional upside momentum with gold potentially looking to target $1,400."

George Gero, vice president of global futures at RBC Capital Markets, believes there is a perfect storm brewing for stronger gold prices with higher open interest in the futures market teaming up with higher moving averages and higher closes. The technicals are all met against the backdrop of weaker global currencies as governments race to debase their currencies to increase exports and spur growth.

"Other currencies are weakening to the point that the world needed to hedge the devaluation with gold," says Gero.

Morgan Stanley raised its bullish forecast to $1,512 an ounce.

[Letsbereal]

James Turk on King World News
6 October 2010, (King World News)
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/10/6_James_Turk.html

Download MP3 from Site.

[Letsbereal]

Massive Call Options Bought on the (GLD) Gold Trust ETF Index Indicating a Flee to Safety?
http://www.youtube.com/watch?v=8MRpu78Y_Eo

Gold Trading Video Big Money on Wall Street Betting on Gold GLD Massive Call Options Trading on the GLD ETF.

Massive Call Options Bought on the Gold Index Indicating a Flee to Safety?

The SPDR Gold Trust (NYSEArca: GLD) had some massive amounts of call buying today as we see big players on "Wall Street" move in to make "big bets on gold" "massive call options" purchased today represent huge amount of amounts to be purchasing on an intraday level.

The technical analysis of options trading goes like this. The buyer of the call options is obviously "bullish on gold" and wanted to give him or herself time for the gold trade to work in there favor and that is why you're seeing the majority of the gold options traded today in "L.E.A.P"s going out till year 2012.

It's obvious to anyone paying attention the "federal reserve" is printing a mass amount of "US dollars" and we'll eventually feel the impact as the money is circulated throughout our "economic system".

We will continue to see how the Obama Administration reacts to the massive unemployment figures and the continued reliance on the FOMC to keep "interest rates" artificially low so there is always some sort of "Wall street gimmick" or "carry trade" to take advantage of global economic trends and money flows.

Betting on Gold and Farmland - Wall Street Pit: Global Market Insight. Hedging Gold As it Hits Record High.

[Letsbereal]

Remember when Gold was $550? http://www.youtube.com/watch?v=rdlOnpAwo_Y

Yessssss!!!! Gold Always believe in .... Gold, Your indestructible, GOLD!!! http://www.youtube.com/watch?v=ntG50eXbBtc

Bring The Gold http://www.youtube.com/watch?v=_qO66Rmi1Mw

The Ecstasy of Gold http://www.youtube.com/watch?v=ZNGe7iK1O-4

[Letsbereal]

GOLD STRUCK A NEW ALL TIME HIGH AT $1,366 o/z
http://www.reuters.com/article/idUSLDE6960OM20101007

[ReasonWillPrevail]

GOLD STRUCK A NEW ALL TIME HIGH AT $1,366 o/z
http://www.reuters.com/article/idUSLDE6960OM20101007

Buy now, people are making their profits -- get in while its in a dip -- won't be there for that long (a day at most) -- expect big gains to occur after it begins to be driven up again..

[Letsbereal]

Vietnam may end gold-import ban; spot prices climb
6 October 2010, by Chris Oliver (MarketWatch)
http://www.marketwatch.com/story/vietnam-may-end-gold-import-ban-spot-prices-climb-2010-10-06

Excerpt:

Vietnam's central bank said Thursday it may allow companies to import gold, potentially reversing a more-than-two-year ban, according to reports, with the annoucement sending spot gold to a new record.

The move is an attempt to help stabilize local prices for the metal, which have recently outpaced global settlement levels, the reports said.

"Enterprises may import gold in appropriate quantities and at appropriate times to stabilize the domestic market," Dow Jones Newswires cited the head of the State Bank of Vietnam's foreign-exchange department as saying.

[Letsbereal]

Gold rebounds on easing outlook - Silver back at 30-year high, copper also at multiyear best
8 October 2010, by Claudia Assis and Nick Godt (MarketWatch)
http://www.marketwatch.com/story/gold-jumps-then-falls-after-jobs-report-2010-10-08

Excerpt:

Gold futures staged a comeback Friday after wavering earlier in the session, on expectations the Fed will take steps to boost the U.S. economy that will weaken the dollar.

----

Gold wobbled at the opening and turned higher on news that the U.S. economy lost more jobs than expected in September. Shortly after, however, gold lost steam and traded lower.

A weakening dollar and some technical moves brought gold back, said Charles Nedoss, a senior marketing strategist with Olympus Futures in Chicago.

Gold tested Thursday’s lows but didn’t go any lower, which provided enough floor for prices to enable a rally on the weaker dollar, he said.

Some economists viewed the job loss as raising expectations the Federal Reserve will soon boost its monetary stimulus, which tipped the dollar lower.

----

The dollar has plumbed multi-year lows on mounting expectations the Fed will provide monetary stimulus when it meets in early November.

A weaker dollar is generally supportive of dollar-denominated commodities as it makes them cheaper for holders of other currencies, broadening their investment appeal.

----

Earlier in the day, the Labor Department said 95,000 jobs were lost in September, a much bigger loss than economists expected.

Economists surveyed by MarketWatch expected payrolls to have fallen by 8,000 in September after 57,000 jobs were lost in August. Read more on September’s jobs repprt.

Gold, which benefits as an alternative to currencies, has reached record highs recently as major economies compete to boost their economies and pressure their currencies.

J.P. Morgan Chase & Co. said Friday it revised its outlook for metal prices in 2011 and sees gold trading “consistently” above $1,400 per ounce next year, compared to an average of $1,250 previously forecast.

----

Likely “escalation of quantitative easing and potential ‘currency wars’ will lead to a marked devaluation of paper assets,” metal strategist Michael Jansen wrote in a report issued overnight.

Jansen expects copper to trade above $8,000 per metric ton, or $3.63 a pound, and finish 2011 above $9,000, or about $4.10 a pound.

[grapecrusher1]

Went to buy a couple chunks of silver today.  30 people lined up out the door for 2 desks.  Wasnt going to wait but they were sold out of what I wanted anyway.

[Letsbereal]

Max is right: “Gold is still in a bear market”

Cause inflation adjusted gold is still very low. See Graph Inflation Adjusted:

[Letsbereal]

Goldman ups 12-month gold price forecast to $1,650
12 October 2010, by Claudia Assis (MarketWatch)
http://www.marketwatch.com/story/goldman-ups-12-month-gold-price-forecast-to-1650-2010-10-12

Excerpt:

Goldman Sachs Group Inc. has raised its 12-month price target for gold to $1,650 an ounce, saying the return of quantitative easing is likely to continue to be strong catalyst for gold.

----

Goldman's economics team "expects the the US Federal Reserve to announce a return to quantitative easing measures as early as the November FOMC meeting.

[citizenx]

Sounds like a quite plausible forecast (considering it's GS).

[Letsbereal]

$1372.57 o/z NEW ALL TIME HIGH FOR GOLD (For Now)
http://www.goldprice.org/spot-gold.html

YeSSSSSssssss! We’re in the 60-ties 70-ties Now Yeah, baby, yeah! http://www.youtube.com/watch?v=J2HBdRCroks

[Letsbereal]

$1373.54 o/z NEW ALL TIME HIGH FOR GOLD (For Now)
http://www.goldprice.org/spot-gold.html

[Letsbereal]

GOLD NEW ALL TIME HIGH AT $1,374.15 o/z
http://www.reuters.com/article/idUSN1327104720101013

[Letsbereal]

$1,376.95 o/z New Gold All Time High
http://af.reuters.com/article/metalsNews/idAFSGE69D00R20101014

[Letsbereal]

$1,378.08 o/z New Gold All Time High (For Now)
http://www.goldprice.org/spot-gold.html

[Letsbereal]

Bloomberg Television interview with Mr T.
http://www.youtube.com/watch?v=pWAu7FmKbYc

[Letsbereal]

$1,378.95 o/z New Gold All Time High (For Now)
http://www.goldprice.org/spot-gold.html

[Letsbereal]

$1,380.13 o/z New Gold All Time High (For Now)
http://www.goldprice.org/spot-gold.html

[Letsbereal]

$1,385.70 o/z New Gold All Time High (For Now)
http://www.goldprice.org/spot-gold.html

[Letsbereal]

$1,386.54 o/z New Gold All Time High (For Now)
http://www.goldprice.org/spot-gold.html

GOLD RISE IS SCREAMING FOR QEII - THEY WANT GREENSHOOTS - AND THEY WANT THEM NOW!!!

FED WILL START QEII SOON!!! Mark my words. Gold will retreat somewhat on QE II start but only for a short while.


"That’s when investors will start to demand to see a new round of “green shoots,” or a payoff for all the easing. And if they don’t get it, well, let’s just say, there will be hell to pay."

From: Don’t get used to the new Fed - Quantitative easing will work for only a short time
14 October 2010, by Jon Markman (MarketWatch)
http://www.marketwatch.com/story/dont-get-used-to-the-new-fed-2010-10-14

[Letsbereal]

$1,388.10 o/z GOLD NEW ALL TIME HIGH  
http://www.marketwatch.com/story/gold-futures-rise-to-highs-near-1390-on-globex-2010-10-14

Reader Response »

Gold is so cheap right now its ridiculous!!!!

This time next year it will be over 5K!!!!!! Or if we have hyperinflation it could be 50 million an ounce!!

During the Wiemar Republic, it was over 10 Trillion marks per ounce!!!!!

The Total Collapse of the Global Economies is underway.....

For Gods sake!! The banks just halted all foreclosures in total fear.........

Wake up American and the rest of the world!!!!!

Its all going down soon........

http://www.marketwatch.com/story/story/commentstab?guid=4F24202C-D769-11DF-9252-00212804637C#comment4806399

[citizenx]

The Total Collapse of the Global Economies is underway.....

For Gods sake!! The banks just halted all foreclosures in total fear.........

Wake up American and the rest of the world!!!!!

Its all going down soon........

Well, one or two of the big four halted them -- they may as well they are facing suits in 49 of 50 states.

B of A, the first to halt them is going to be the first to have to take a big hit for writing down some of its bad (or illegitimate?) debt, as it is still bleeding red ink.



"Collapse" might still come relatively gradually, however, with markets frst retuning to levels down around the lows of the last three years, perhaps, slightly (within a thousand or so points) of the bottom of the 07'/08'/09' "financial crisis".  Yes, with gold going through the roof and dollar dropping like a rock.

Dropping like a rock is relative, too.  the dolar has lost about 23 % of its value versus the Yen since the beginning of the "financial crisis", so a further loss in value may be more in line with this kind of rate of change.

Yes, things certainly seem headed for a "crash" or "collapse" but what that means and how it might take place might yield quite different scenarios.

Gold could continue to appreciate at a much faster pace than inflation as it has since the behinning of the "financial crisis" and yes, is arguably vastly undervalued.

[redeux]

..... this is another huge bubble, enjoy the ride to the bottom, all the big players are in on it now and they will short your asses into oblivion you'll be a small Bear Sterns, here one day gone the next.... the assumption that gold will have any value other than appearance after the full on economic collapse is just lunacy imo........ try an eat that shit, there will be no barter systems up and running for some time if the shit goes down at the level some have predicted.....

[citizenx]

A complete collapse of the global (derivatives) bubble will likely have to await a (possibly very short and illusory) recovery which then leads to raising on international interest rates.  That having been said, we might see the end of the present dead cat bounce before then, with everything which that might entail.

First "recovery" then complete (90% plus crash in stock markets) collapse.

Maybe just in time for the 2012 hype/psyop/mega-ritual.

[Letsbereal]

James Turk - Gold, Silver & What Bulls Dream About
14 October 2010, (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/14_James_Turk_-_Gold,_Silver_%26_What_Bulls_Dream_About.html

With gold and silver strong in Asian and European trading, King World News interviewed James Turk out of Spain to get his thoughts on the price action.  Turk commented, “We’re now into the 3rd stage, we are starting to see the panic buying...We are now witnessing the early stages of that short squeeze.”

“The metals market was dominated by pervasive fear Eric, when you and I first started to do this series of blog pieces back in the $18 to $19 area on silver.  From those levels in the high teens, the market headed higher as many people watched in disbelief.  The lengthy 3 year consolidation pattern in silver had simply worn out the bulls.”

“We’re now into the 3rd stage, we are starting to see the panic buying.  As I mentioned previously there was going to be a massive short squeeze the likes of which hasn’t been seen since Cornelius Vanderbilt took on Daniel Drew.  We are now witnessing the early stages of that short squeeze.”

“I mentioned in our previous interview on October 6th, when we took out 58 on the gold/silver ratio you would see a quick drop to the 50-52 area.  What this means is that silver will outperform gold even though gold will be heading higher also.  The reason why I expect the ratio to fall so quickly is that I anticipate the short squeeze in silver to be more acute than the short squeeze in gold.”

This type of action is incredibly stressful for the shorts, as only the strongest can hold on to their positions.  For the rest of the shorts we saw a bit of disorderly action in early trading as they were margined out of their positions.  This is what bulls dream about, a market with enormous short positions that are trapped.

[Letsbereal]

Kelly's Heroes -- Go for Gold, Ending Vid
http://www.youtube.com/watch?v=oCYOa9egpaM

[shy69iskrazy]

$1365.10  What the heck is going on w gold today?  It's supposed to b going up bc of QE2 but it's just plummeting today.  Anybody else worried like me?

[robbin505]

My problem with gold is that if the market fails and the dollar is no longer the reserve currency of the world, doesn't that put us right back to where we are now?  I'm poor, can't afford much gold or silver.  The rich can.  Once again, "those who have the gold make the rule", right?  I am thinking about putting my money if a foreign bank and I am planning to leave the U.S..  Am I crazy or does this make any sense?  The markets in Southeast Asia are getting stronger by the day.  I wouldn't mind living in Thailand or Malaysia or just about any of the more stable places in the world that are actually producing products that boost GDP for them.  This seems like a decent enough idea.  I am in college and should be able to use my degree in another country.  Teaching english only requires a bachelors in something.  It pays decent, especially for a place like Thailand or India.  I mean, it is just me and my dog, is this a bad idea?  I keep hearing all the time that the job markets are opening up for anyone in these developing countries.  This actually seems like a great way to get a decent job in a country that has decent healthcare and low cost of living.  I would really like some criticism to help me understand the downside so that I can better prepare my decision. 

[Letsbereal]

I find it diffucult to say exactly what's the best thing to do but I think if I lived in America I would think along the same lines.

What is important is to get as much info as you can about the countries your eyeing.

I advice you to write an email to Bob Chapman he's a very good guy and will answer your questions so don't hesitate.

I know cause I once wrote him an email myself.

He's been around the world so likely has a much broader perspective on these matters than I have.

Thoroughly think your questions trough and put them in a nice understandable coherent way so that it's clear to Bob what you want to know.

Contact Bob Chapman: http://theinternationalforecaster.com/contact

[Letsbereal]

South Korean central bank looks to gold
18 October 2010, by Christian Oliver and Song Jung-a in Seoul and Jack Farchy in London (The Financial Times)
http://www.ft.com/cms/s/0/74576bd6-da90-11df-81b0-00144feabdc0.html

Excerpt:

South Korea, holder of the world’s fifth-biggest foreign exchange reserves, is considering buying gold to diversify its dollar-heavy portfolio, the country’s central bank said, adding it would be cautious in making any final decision.

----

With just 14 tonnes of gold – or 0.2% of its $290bn reserves – Seoul is one of the smallest holders of gold among large economies. The world average is 10%, according to the World Gold Council, while countries such as the US, Germany and France hold well over 50% of their reserves in gold.

----

It comes as other Asian countries including China, India, Thailand and Bangladesh are stocking up on gold amid concerns that an escalating global currency war and a fresh round of quantitative easing in the US will drive the value of the dollar lower. South Korea holds 63% of its reserves in dollars.

With emerging market countries buying and central banks in Europe halting their sales of bullion, central banks are set to become net buyers of gold this year for the first time since 1988, according to GFMS, a precious metals consultancy. That shift helped drive prices to a new nominal record of $1,387.10 a troy ounce on Thursday, up 27% since the start of the year.

Philip Klapwijk, chairman of GFMS, said: “In a currency war situation where there are beggar-thy-neighbour policies being put in place, gold stands out as an entirely neutral asset that’s probably going to go up in price in such circumstances.”

----

Historically, Seoul has favoured Treasury bills over commodities because they are more liquid and can be used as a weapon to control the notoriously volatile won. However, this reliance on the dollar has attracted widening criticism in recent years as commodity prices have soared.

Lee Ji-pyeong, senior researcher at the LG Economic Research Institute, said South Korea should have started building up gold stocks last year. Increasing its holdings now would be difficult but worthwhile, he said: “The bank is likely to remain hesitant, waiting for gold prices to come down, which is unlikely.”

[Letsbereal]

Pierre Lassonde - Strong Forces Propelling Gold
18 October 2010, (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/10/18_Pierre_Lassonde_-_Strong_Forces_Propelling_Gold.html

Excerpt:

Pierre Lassonde:

“We’re dancing around at all all- time highs so I think you can expect some volatility.  As we reach these levels, some are taking profit while others are entering the gold market.”

“While traveling last week I was speaking with an individual from a top bullion bank from Europe.  He said his trading desk has seen their Chinese business go up to record levels in the last two weeks.  The most interesting aspect to me is the fact that the Chinese central bank is diversifying their reserves away from the dollar, and they are literally buying all of the local gold production inside China.”

“Because of this the Chinese jewelers are not getting any gold, so they are having to purchase all of their gold on the open market.  Internal Chinese citizen demand is already 350 tons per year, and growing by about 15% per year relentlessly.”

“Chinese demand is already at high levels, so another 15% added to existing demand raises their citizen’s appetite for gold to over 400 tons next year.  If the Chinese central bank continues to consume internal production at the rate they are, it would be difficult for the gold market to experience a major correction.  The Chinese central bank would have to back off purchases of internal production for 3 months or 6 months to get a major reaction in the gold market.”

“The Chinese are worried that the world will discover that they are getting out of the dollar and buying gold.  If they are seen as buying gold on the open market, their fear is that will be viewed as repudiating the US dollar.  Then they’ve got a real Excedrin 3 (headache) problem. That would create more competition for gold, driving the price of gold higher and the dollar lower.  They would then have to buy even more dollars to keep the peg.”

“They keep buying the US dollar, but they know it is not sustainable.  The risk there is that they create significant inflation, thus destabilizing the country.  High inflation inside of China would be extremely dangerous and could literally spark a revolution.  They want the gold, but they have to balance that with stability.”

----

“The Chinese central bank is doing the right thing, they are using gold as one of their underlying assets, but the problem is that they should have a lot more gold then they currently possess.  This is one of the major factors driving the gold market today.”

[Letsbereal]

China's Rate Move Crushes Gold And Silver
19 October 2010, by Joe Weisenthal (Business Insider)
http://www.businessinsider.com/china-rate-increase-effect-on-gold-and-silver-2010-10

[agentbluescreen]

It had a repercussion and caused a bit of a stall, but the term "crush" is just a silly and desperate exaggeration.  The thing is that China's (reluctant) willingness to increase it's debts while it still doesn't have enough gold (nor other finite resource) assets to guard it's growing populance/economy against the Anglo-US global-corporatist depleted uranium war-debt machine's impending inflation crash, is just a reluctant and anemic hedge to allow them to participate in the post crash looting orgy.

[Letsbereal]

Brynjolfsson bets on inflation, sees gold at $2,000 - With more Fed easing in sight, manager is long on emerging markets
20 October 2010, by Sam Mamudi (MarketWatch)
http://www.marketwatch.com/story/brynjolfsson-bets-on-inflation-2000-gold-2010-10-20

Excerpt:

Another round of quantitative easing is “absolutely” the right policy for the Federal Reserve as it attempts to move investors away from bonds and into assets such as stocks, hedge-fund manager John Brynjolfsson said Wednesday.

----

“The Fed has a very easy mandate for now,” he said. “Bernanke is not happy that the market is pricing in not just disinflation but deflation. … He wants to raise inflation expectations to creative negative real yield on cash balances.”

[Letsbereal]

Shield Your Eyes: The Gold Plunge Is Continuing
22 October 2010, by Joe Weisenthal (Business Insider)
http://www.businessinsider.com/shield-your-eyes-the-gold-plunge-is-continuing-2010-10

[agentbluescreen]

Shield Your Eyes: The Gold Plunge Is Continuing
22 October 2010, by Joe Weisenthal (Business Insider)
http://www.businessinsider.com/shield-your-eyes-the-gold-plunge-is-continuing-2010-10

Another last-ditch pre- expirations day price fixing pothole, nothing more. The shallowness of the bite in relation to recent upswing is indicative that they too, prefer loosing their paper to loosing their gold.

They are betting that people foolishly worrying that "somehow" QE2 might not happen, won't jump at this bargain, and others might run away scared handing them back profits. How wrong does wrong get?

Keep your eyes on the fundamentals, they're just digging a deeper hole for themselves.

[agentbluescreen]

Gold Heads for First Weekly Decline in Six as G-20 Chiefs Meet
http://www.bloomberg.com/news/2010-10-22/gold-set-for-first-weekly-decline-in-six-as-g-20-chiefs-discuss-currencies.html
By Maria Kolesnikova and Wendy Pugh - Oct 22, 2010 8:56 AM ET

Excerpts:

Global finance ministers are planning to say in South Korea that members will refrain from “competitive undervaluation” of currencies, according to an official from a G-20 country, citing a draft statement and speaking on condition of anonymity.
.....

Gold rallied for the past five weeks on speculation that the Federal Reserve may further ease monetary policy, hurting the dollar. Bullion for immediate delivery, up 21 percent this year, is heading for a 10th annual gain, the longest winning streak since at least 1920. The metal has outperformed global equities, Treasuries and most industrial metals, prompting record investment in gold-backed exchange-traded products.
.....

“It is remarkable that the price slump this week was accompanied by only low” outflows from exchange-traded funds, Commerzbank said. “This implies that speculative financial investors have taken _(evil)profits.”

Ten of 19 traders, investors and analysts surveyed by Bloomberg, or 53 percent, said that gold will fall next week as some investors sell the metal after its rally to a record. Seven forecast higher prices and two were neutral.

Complete Story

Just more doublespeak and a glitch, interesting they aren't mentioning expirations.

Mark must have gotten a good belly laugh out of the Soros dig.

[Letsbereal]

Gold & Silver prices "You have seen nothing yet": Lindsey Williams
http://www.youtube.com/watch?v=l7uLCygUXiA