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

[Letsbereal]

Investors lap up first China Gold ETF
13 January 2011, Beijing (CommodityOnline)
http://www.commodityonline.com/news/Investors-lap-up-first-China-Gold-ETF-35612-3-1.html

Excerpt:

Exchange traded funds (ETFs) in gold have emerged as the hot investment favourite in China. The first Gold ETF in China has lured investors. The gold fund raised a record collection as it closed this week.

The Gold ETF, from Lion Fund Management Co, raised more than 3.2 billion yuan ($483 million) after the fund closed its subscription this week.

“This has been an amazing collection for the first gold-backed ETF in China. This proves the fact that gold-backed funds and products have great future in China,” says William Morris, a gold bullion investment consultant based out of Beijing.

According to Song Qing, head of the international business department of Lion Fund, the company will invest the money collected out of the fund will in overseas ETFs that track the international gold price, under the Qualified Domestic Institutional Investor (QDII) program.

The company said it is assessing a dozen gold-backed (ETFs) on the global market as potential targets, including SPDR Gold Trust. Last month, the Chinese government gave regulatory approval for Lion Fund to launch the Gold ETF under the country's Qualified Domestic Institutional Investor scheme (QDII), which enables participants to invest client's money overseas within set quotas.

"The so-called 'fund of funds' has chosen about 30 overseas gold ETFs for investment, focusing on mature financial markets such as the United States, Europe and Japan, and will also invest in South Africa," Song Qing said.

He said the fund would prefer to use a "conservative investment method" during the first three months. Lion Fund started to issue the gold fund on Dec 10, and has become the biggest fund under the QDII program in China in three years, after a month of fund raising.

Institutional investors have contributed more than individual investors in the fund-raising phase, said Song, who refused to reveal the names of institutional investors.

"This fund is backed by physical gold, and there is no leverage or derivative in our investment portfolios, so it is a creative and simple financial tool for normal investors," Song said.

[Letsbereal]

Gold ETF holdings soar by 75% in India
13 January 2011, Mumbai (CommodityOnline)
http://www.commodityonline.com/news/Gold-ETF-holdings-soar-by-75-in-India-35603-3-1.html

Excerpt:

Exchange traded funds (ETFs) in gold are glistering in India, the world’s most active bullion marketplace for the yellow metal.

Gold buying has been a custom for families for centuries in India. While Indian households own the largest quantity of physical gold—around 15000 tonnes in the world—the latest entrant in the form of Gold ETFs are doing roaring business in the country.

ETFs in gold in India were launched only a few years back. There are only eight mutual funds and banks that are offering Gold ETFs in the country. While the public investment into Gold ETFs in India is low compared to countries like the United States, its growth in the last two years has been unprecendented.

According to the latest data, holdings in India’s Gold ETFs soared by nearly 75% in December 2010 as investors bought in gold funds to the tune of around 15 tonnes.

Gold ETFs in India are growing very fast as Indians have the investment appetite for anything related to the yellow metal. Along with the booming physical sales of gold coins and silver coins, Gold ETFs are also in great demand among India’s investing community,” said Karun Murthy, a bullion investment fund manager based out of Mumbai, India’s financial capital.

Murthy predicted that the growth of Gold ETFs will double in 2011. “I expect the Gold ETFs in India to add at least 30 tonnes this year,” he added.

According to Sanjiv Shah of Benchmark Asset Management, the company that launched India’s first Gold ETF, gold funds are in for a massive growth in the coming years.


These China and Indian ETF's Could Unmask the COMEX Silver & Gold manipulation.

[Letsbereal]

We Called the Pullback in the Price of Gold
13 January 2011, by Sara Nunnally (Smart Investing Daily)
http://www.taipanpublishinggroup.com/tpg/smart-investing-daily/smart-investing-011311.html

A correction like that seems a bit harsh for this economic environment, but I wouldn’t be surprised to see the price of gold drop back below $1,360… at which point, I would consider gold a buy.

GOLD AT $1361 Now!

[Letsbereal]

I think we’ve reached the bottom at $1361.16 now.

Freedom on Sale - Time to Buy  Gold

Buy! Buy! Buy!
Buy! Buy! Buy!
Buy! Buy! Buy!
Buy! Buy! Buy!

[Letsbereal]

George Soros’s Biggest Buy is Gold - $64 Million in the Last Quarter
January 2011, (Gold Core)
http://campaign.r20.constantcontact.com/render?llr=nid4i7n6&v=001rZH4ueSUQhiTDob1XpeLbMphci924OYDGwHrFkSq8-EGosPiQR3TDZh6o2Zsrgr0_2XH5MoIudFpNdJOx_YQ55-aiWoxAVPed3UfHl3UaPM%3D

Excerpt:

George Soros’s Biggest Buy is Gold - $64 Million in the Last Quarter

Many of those calling gold a bubble have done so simply on the basis of George Soros’s recent comments regarding gold being the ultimate asset bubble or becoming the ultimate asset bubble. Soros’s comments were somewhat cryptic and had some commentators claim that Soros was saying gold is a bubble and others claiming that Soros was simply saying gold would become the ultimate bubble.

George Soros said subsequently “It’s all a question of where are you in that bubble ... The current conditions of actual deflationary pressures and fear of inflation is pretty ideal for gold to rise.” This would suggest that he is bullish on gold, contrary to much of the media headlines and commentary.

As ever with hedge fund managers and large investors it is important to watch what they do rather than what they say. In the last quarter, Soros's biggest buy wasn't actually a stock. His firm spent $64 million on shares of the iShares Gold Trust (IAU).

GoldCore Gold Bullion Services: http://www.youtube.com/watch?v=-HaqwFJj4ZY

[Letsbereal]

Vegas ATM Dispenses Gold Instead Of Cash
13 Janyuary 2011, by Chris Morran (The Consumerist)
http://consumerist.com/2011/01/vegas-atm-dispenses-gold-instead-of-cash.html

If you’re sick of just getting plain-old cash out of the ATM, head over to the Golden Nugget in Las Vegas, where you can withdraw funds from your account in the form of gold.

“The GOLD to go" machine spits out 24-karat gold bars from 1 to 250 grams. And it can vend gold coins and bars with the Golden Nugget logo. The cost is constantly updated to reflect the ever-changing gold market. A computer inside the ATM keeps up with current prices.”

A rep for the ATM company tells the paper that the price of the gold in the machine is slightly higher than market price. The current cost at the ATM is more than $1,000 per ounce.

Las Vegas ATM dispenses gold bars and coins [USA Today] http://travel.usatoday.com/destinations/dispatches/post/2011/01/las-vegas-atm-dispenses-gold/138002/1

[Letsbereal]

Goldrunner: Has Gold Topped Out? Nope, You Ain’t Seen Nothing, Yet!
15 January 2011, (Munknee)
http://www.munknee.com/2011/01/goldrunner-has-gold-topped-nope-you-aint-seen-nothing-yet/

Excerpt:

Gold On The Verge of Ripping Higher Into May and June

A Gold Bull Market is much like a bucking bronco in the Old West – constantly trying to buck investors out of the saddle – as many in the Precious Metals universe are calling an intermediate-term top for Gold.  

Some are even suggesting that we have seen the final top in the Historic Gold Bull.

We have a completely different view maintaining that we are very close to the juncture where Gold starts another rip higher into May or June.

----

A Look At The Arithmetic $Gold Chart

The chart below is almost as significant as the Fractal Gold Chart we follow off of the late 70’s.  

In it I have drawn the channels that correspond to the basic Elliot Wave structure of the developing Gold parabola with the equivalent of the Wave I channel in blue, the equivalent of the Wave III channel in green and the proposed Wave V channel in red.  
 

[Letsbereal]

Morgan Stanley ups gold price estimates
16 January 2011, by Sarah Turner (MarketWatch)
http://www.marketwatch.com/story/morgan-stanley-ups-gold-price-estimates-2011-01-16

Excerpt:

"Identified and implied investment has increasingly become the main driver of demand in the gold market," the broker said.

It added that investment demand as a percentage of total demand increased to 31% in 2010, up from 9% in 2002.

"We expect this percentage to rise further -- to 43.5% in 2012 -- reflecting the continued growth in physically backed exchange-traded funds and physical bar hoarding," the broker said.

[Letsbereal]

Report: Ben Ali’s wife picked up 1.5 tons of gold before fleeing
17 January 2011, Paris (M&C)
http://www.monstersandcritics.com/news/africa/news/article_1612284.php/Report-Ben-Ali-s-wife-picked-up-1-5-tons-of-gold-before-fleeing

Excerpt:

The wife of ousted Tunisian president Zine el- Abidine ben Ali collected 1.5 tons of gold from the central bank before fleeing the country, the French newspaper Le Monde reported Monday.

Leila Trabelsi visited the bank in Tunis and is thought to have taken the gold bars worth some 60 million dollars along when departing onboard a plane bound for Dubai, according to the report.

The head of the bank had reportedly not wanted to hand over the gold at first, but after the 53-year-old contacted her husband telephonically, she was given the gold bars.

[Letsbereal]

Update: These 110 Analysts Believe Gold Will Go Parabolic to $3,000 or More!
10 January 2011, by Lorimer Wilson (The Daily Gold)
http://thedailygold.com/commentaries/update-these-110-analysts-believe-gold-will-go-parabolic-to-3000-or-more/?p=5519/

[Letsbereal]

Web Bot Cliff About Gold, 11 January 2011
http://www.halfpasthuman.com/badfood.html

The interpretation that we have about the [indigestible products] is that they fall into the category of [derivatives] in general, but specifically there are linguistics around the idea of a [gold price tied/bound] form of [derivative] that [fails] in an [instant] due to a [crisis] in the [gold/precious metals market].

This forecast is based on a lot of immediacy data value sets and so may be within days of happening, and likely will be occurring by the time that this Shape report is published.

[Letsbereal]

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

Gold back at $1372 Now!

[Letsbereal]

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

Gold back at $1373 Now!

[Letsbereal]

Thomas Kaplan: Brace for a 'perfect storm' in gold
18 January 2011, by Thomas Kaplan (The Financial Times - GATA)
http://gata.org/node/9523

Excerpt:

There are changes afoot. After a lengthy absence, some asset managers and central bankers are readmitting gold back into the group of prudent asset classes. Assessing the devastation of financial industry and government balance sheets, fiduciaries have been reminded that one of the principal reasons to hold gold -- that it is the only major financial asset that does not represent someone else's obligation to repay -- is not the arcane concept it once appeared.

I believe the renewed appreciation of risk management is in its infancy and that gold, like stocks and bonds, will recover its relatively small, but significant historical position in the world's investment funds. Considering the tiny size of the gold market, the implications of a potential return of gold into the world's largest portfolios are enormous. For, unlike stocks and bonds, whose supply can increase to meet demand, there is not enough gold to go around at today's prices.

According to International Strategy and Investment Group (ISI), if gold ownership rose from 0.6% of total financial assets to only 1.2%, still less than half its 1980s level, this would equate to an additional 26,000 tonnes, or 16% of aggregate gold worldwide. This represents 10 years' worth of current production.

Is such a momentous development likely? I suggest it is more likely than not, as the metal is set up for a "perfect storm" from a supply/demand standpoint. At a time when mining companies can barely find enough gold to replace their reserves and production growth is anaemic, central banks have not only stopped selling their gold but are now aligning with investors to accumulate it.

As it dawns on the wider market that the bull market in gold is real, the impact on gold mining equities will probably be dramatic. Until recently, in spite of their theoretical leverage, miners have lagged behind the metal's performance. This should not be so surprising. As most analysts haven't changed the long-term pricing of their cash-flow models to reflect a sustained bull market in gold, the shares have underperformed amid assumptions that are outmoded.

This disconnect is similar to the experience of energy equities in the early 2000s. Even as oil surged, it was not until investors accepted that oil might not stay low forever and started to factor in higher prices that the equities were revalued. With the total market capitalisation of all gold mining companies only fractionally higher than that of Apple, any move by investors to capture the inherent leverage of these equities could drive stock prices substantially higher.

Asset managers and central banks are just beginning to readmit gold back into the select group of prudent asset classes. That this is occurring at a time when what might be seen as the world's safest financial asset classes may also be its scarcest suggests interesting times ahead for those who own gold.


Gold at $1375 Now!

[Letsbereal]

Greenspan, priming the gold standard
http://www.youtube.com/watch?v=yRJs5yL62BA

[agentbluescreen]

Yet another huge false price fixing attack on the metals is underway today in a last ditch attempt to shake some physical metal out of jittery savers and back into their coffers of greed to back up their imminent fraud-futures bankruptcy on huge short positions.

Buyers should use every resource to take advantage of this last-ditch buying opportunity and disregard the artificially manipulated false prices today.

Problem is there is none available at these phony prices, and anyone who sells to please them today is an idiot.
 

[Letsbereal]

Crimex is raising margins for metals contract, again.

CME Margin Increase effective Jan 21:
http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv11-23.pdf

[Letsbereal]

TREMENDOUS UPSIDE PRESSURE ON GOLD NOW!

Fundamentals havn’t changed that much so by manipulating the price of silver and gold down they put a lot of upsite pressure on these precious metals.

Gold doesn’t have to test $1,430 oz anymore cause on Dec. 7, 2010 gold reached an all time high of $1,431.25 oz.

So with a gold at a low now of $1,341 oz we’re down $90.

This is ridiculous of course since gold should be at $2,500 oz right now! Reflecting today's fundamental market conditions.

GOLD SILVER Sell Off THE END? Or a Buying opportunity? http://www.youtube.com/watch?v=OFicrmXIMKI

[Letsbereal]

James Turk - Gold & Silver to Take Off Despite Weakness
20 January 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/20_James_Turk_-_Gold_&_Silver_to_Take_Off_Despite_Weakness.html

With gold and silver getting hit hard today, King World News interviewed James Turk out of Spain. When asked about the recent action Turk commented, “The last time we spoke Eric, the two key overhead resistance levels I mentioned were $1,400 for gold and $30 for silver. I expect that we will be probing those resistance levels in the near future. The real question in my mind is whether we can take out these resistance levels on the first attempt, or whether the market needs to trade sideways longer in order to build more of a base.”

Turk continues:

Regardless, the risk here is not being in the market, because once these resistance levels are taken out, both metals are ready to explode to the upside.

Right now over here in Europe, the periphery countries such as Spain and Portugal are changing the way they borrow. Their bankers are putting together a syndicate of lenders so that neither country has a failed bond auction. The net effect is not only are they trying to paper over the sovereign debt crisis, now they are trying to hide it behind closed doors with these gimmicks.

Another slight of hand which has been getting a lot of attention recently is the accounting shenanigans by the Irish central bank. The unexplained build-up of other assets on its balance sheet suggests to me that they are playing a very dangerous game. Instead of allowing Irish commercial bank assets to contract to meet the decline in deposits at those banks, the authorities are relying on accounting deception.

If the bank run on Ireland continues, which is likely, the other assets on the Irish central bank’s balance sheet will not be able to be used to obtain liquidity from the ECB, thus potentially leaving Ireland in an illiquid, precarious monetary position. Interestingly, one would expect to see these steps from a country prior to that country exiting the Euro altogether. The question then becomes, is Ireland setting up to leave the Euro?

All of these indicators are simply bullish underpinnings which are paving the way for the next leg higher in both gold and silver.”

[Letsbereal]

Inflationary Guerilla Tactics Resume As Comex, Nymex Hike Margins On Gold, Silver, Cracks, Spreads And Other Products
20 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/inflationary-guerilla-tactics-resume-comex-nymex-hike-margins-gold-silver-cracks-spreads-and

Wonder why the smart money was rushing headlong out of gold and silver over the past few days, and especially today in the AM session?

Here is your answer: in tried and true fashion the Comex just hiked margins in gold, and silver by about 6%, and threw in a few other commodities to mask things up.

And unlike the last time it did it, when it could at least pretend to justify its actions with the surge in gold price, this time with the PM complex dropping, we wonder what excuse the CME will use this time.

Initial and Maintenance margins were just increased in everything from 10 Tr Oz Gold Futs, Comex 100 Gold Futures, Comex Miny Gold and Silver, E-mini Gold and Silver, Comex 5000 silver futures to Silver trade at settle. Also added were Copper, Iron Ore, propane, butane, and other nat gas.

Most notably, and confirming that the administration and the money printing authorities are terrified by the surge in crude, the CME also hiked margins in various refined products and coal.

The official scramble to "contain" the aftermath of Bernanke's lunacy is accelerating. We wonder when REDI, Prime Brokers and E-trade will comparable collapse purchasing margin for stock trading accounts.

Of course, as with all other such superficial market interventions, the impact is shallow and is overrun in a matter of days. And no...there was absolutely no leak this time. We promise.

Crimex is raising margins for metals contract, again. – CME Margin Increase effective Jan 21: http://www.cmegroup.com/tools-information/lookups/advisories/clearing/files/Chadv11-23.pdf

[Letsbereal]

China buys gold and the world follows -The Chinese are building on a trend that’s likely to last
21 January 2011, by Myra P. Saefong (MarketWatch)
http://www.marketwatch.com/story/china-buys-gold-and-the-world-follows-2011-01-21

Excerpt:

Gold prices have lost around $75 an ounce this year but analysts are unfazed by the drop, with many betting the slump in prices will soon be cut short as the Chinese New Year feeds an increase in global demand that’s destined to last.

“We are entering a period of strong seasonal growth in gold demand and Chinese New Year is a big part of that,” said Brien Lundin, editor of Gold Newsletter. “Physical demand has been supporting the gold prices on the downside even during the typical slack periods, and I expect that upcoming increase in demand will also support the price, but at higher levels.”

The Chinese New Year, also known as Lunar New Year, begins on Feb. 3 this year and ends with the Lantern Festival 15 days later.

“Chinese gold and silver demand has been phenomenal ahead of the New Year holiday,” said Adrian Ash, head of research at BullionVault.com, a leading online service for gold bullion trading and ownership, citing comments from dealers among others.

Shipments have been “heavy” and they began very early, in mid-December, he said.

“Chinese New Year is the time of year when the Chinese share gifts, usually money in little red envelopes,” said Mark Leibovit, chief market strategist for VRTrader.com. “Perhaps the little red envelopes will be a bit heavier this year.”

But the recent spike in China’s demand for gold goes well beyond providing gifts to celebrate the new year.

“It’s really simple,” said Cary Pinkowski, chief executive officer of Astur Gold. “China banned gold ownership for most of the 20th century and that’s over. China has a savings rate of more than 30% … [and] has an official inflation rate of 10%.”

On Thursday, data out of China showed that consumer inflation hit 4.6% year-on-year in December and GDP expanded by a faster-than-expected 9.8% year-on-year for the fourth quarter. The news sparked a global selloff in commodities and stocks on worries that the fast expansion would prompt policy makers to hike interest rates again.

“The Chinese will buy more and more gold just as every other civilization has in inflationary times and with their high savings rates, they have the money to do it,” Pinkowski said.

[Letsbereal]

China vs. JPMorgan: the battle over gold and silver
24 January 2011, (CommodityOnline)
http://www.commodityonline.com/news/China-vs-JPMorgan-the-battle-over-gold-and-silver-35898-3-1.html

Excerpt:

Gold is down 6% and silver 12% since the start of 2011. This is the sharpest decline in precious metals since June of last year and with technical support broken at the 50-day moving averages, many are concerned of a deeper correction ahead.

While there are a myriad of factors driving the prices, two of the major opposing forces are Chinese demand for physical gold on the long side and JPMorgan paper schemes on the short side. Which force prevails in the short term remains to be seen, but in the long run the paper shorts will eventually be squeezed, pushing the price for both gold and silver much higher.

Corrections are a healthy and normal part of any secular bull market, allowing the bull to rest its legs, shake out weak hands and prepare for the next phase up. Every correction in precious metals over the past decade has brought so-called “experts” out of the woodwork to proclaim an end to the gold bull market. They were wrong when gold hit $500, $800, $1,000 and will be wrong many times again before gold finally does peak somewhere above $5,000 per ounce.

But the recent slide in gold and silver prices seems like more than the usual correction and profit taking. Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act during July of 2010 and many metals analysts believed it would lead to the CFTC implementing sensible position limits. In addition, the passing of the Volker rule and closing of prop trading desks seemed to jump start precious metals into an impressive and steady advance.

Many gold bugs believed they were witnessing the end of the fraudulent gold and silver manipulation that has been occurring so blatantly over the past several years. This manipulation has been painstakingly exposed by GATA over the years, was detailed in an earlier article that I published and has led to a series of lawsuits against JPMorgan and others.

[Letsbereal]

Russia To Increase Gold Holdings By 13% In 2011, Will Buy 100 Tonnes Of Gold Each Year
24 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/russia-increase-gold-holdings-13-2011-will-buy-100-tonnes-gold-each-year

The WSJ reports that The Central Bank of Russia, which seems to have missed Doug Kass' Friday Fast Money appearance, plans to buy 100 metric tons of gold from domestic banks a year in order to replenish the country's gold reserves, Deputy Head of the bank Georgy Luntovsky said Monday, according to the bank's press service.

In 2010 Russia's gold reserve increased 23.9% to 790 tons, or 25.4 million Troy ounces. As a reminder China has just over 1,000 tonnes in official holdings.

Which means the PBOC will most certainly not be late to get on the bandwagon, although unlike the CBR, will unlikely issue a press release to announce its plans

[Letsbereal]

“When $1,400 falls we will really begin to see the next leg higher in gold. At that point $2,000 is very much in the cards within the next twelve months
24 January 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/24_Agnico_Eagle_CEO_Sean_Boyd_-_%242%2C000_Gold_This_Year.html

[Letsbereal]

Suddenly, Gold Becomes a Pariah
21 January 2011, by Rick Ackerman (Rick's Picks)
http://www.rickackerman.com/2011/01/suddenly-gold-becomes-a-pariah/

Excerpt:

From a technical standpoint, we do see more downside to this shakeout – to at least 1322.20, basis the Comex February futures.  

That’s $24.30 below Thursday’s settlement price, and if it is reached, gold will have corrected a whopping 6% from December’s record highs.

Frankly, because we like to see symmetry in our charts, we’d be more comfortable with a correction of 15% that matches the one that occurred at the beginning of last year.

That would bring the price of gold down to about $1217.

Whatever happens, and regardless of whether it is inflation or deflation that is perceived as the bigger threat, we would be inclined to view the selloff as merely corrective rather than the beginning of a long-term bear market.



At the Moment: Gold At $1325.25 oz

Gold Low $1322.95 oz

Gold High $1345.20 oz

[Letsbereal]

PRECIOUS-Gold hits 10-week low; strong physical demand supports
25 January 2011, by Rujun Shen - Singapore (Reuters)
http://www.reuters.com/article/idUSL3E7CP02N20110125

Excerpt:

* India raises interest rates; Asia's inflation concerns persist

* Gold to fall to $1,322 - technicals

* Coming up: U.S. consumer confidence, Jan; 1500 GMT

(Adds India rate hike; updates prices)   

Spot gold hit a ten-week low on Tuesday, as support from safe-haven demand diminished on strong economic data out of Europe, but strong physical buying and tight supply in Asia are expected to provide a floor for prices.   

Euro zone industrial new orders rose more than expected in November, confirming the strength of recovery in industry in the economic union.    

The improved economic data, combined with speculation that the European central bank might raise interest rates, pushed the euro to a two-month high. The single currency held near the peak on Tuesday.    

"The gold market is a bit negative for the time being," said Ronald Leung, a physical trader at Lee Cheong Gold Dealers, adding that talks on more tightening moves from China before the Lunar New Year holiday also adds to the bearish sentiment.   

"But on the physical side, people are still buying. There doesn't seem to enough supply in the physical market."   

----

Spot gold fell below $1,330 for the first time in about ten weeks. It recovered to $1,332.85 an ounce by 0070 GMT, but remains on course for a fourth consecutive day of decline.   

----

U.S. gold futures fell nearly one percent to $1,332.2.    

A bearish target at $1,322 per ounce remains unchanged for spot gold , based on its wave pattern and a triangle pattern, said Wang Tao, a Reuters market analyst.

"I don't see prices drop much further, as the strong physical demand is supportive. But around the Chinese New Year, market in Asia will be a bit quiet," said a Hong Kong-based dealer.   

The strong hold for gold prices would be around $1,320, he added.   

This year's Lunar New Year falls on Feb 3. China, a key player in the region's gold market, kicks off a week-long holiday on Feb 2.

[Letsbereal]

Scotia-Mocatta Sells Out Of 1 Kilo Silver Bars
24 January 2011, by Tyler durden (Zero Hedge)
http://www.zerohedge.com/article/scotia-mocatta-sells-out-1-kilo-silver-bars

Excerpt:

It seems that not a day passes by without some major dealer running out of a precious metal in inventory.

Last Thursday when we presented the most recent inventory at Scotia Mocatta (alongside the ongoing firesale at the US Mint where incidentally total silver sales in January are now at a fresh all time record 4,724,000 ounces).

One of the ten market-making members of the London Bullion Market Association and one of only 5 banks to participate in the London gold fixing, we indicated that of all silver bar related products, Scotia Mocatta only had the 1kg Valcambi silver bar, that was listed 3 weeks ago, in stock.

As of today, this object is no longer in inventory even at the unit price of CAD$980.11. Reader S. presents the two logical alternative for what is happening: "This can only conclude two things:

1. They purchased a limited amount (due to low supplies) and was sold off quickly.

2. They purchased a large amount and was sold off due to major purchases.

Alternatively, the bank now has the 100 oz silver bar back in stock.

We will keep tabs on how long before this also becomes "sold out."

Our question is whether the ongoing shortage at most dealers, despite the so-called drubbing in PM prices, is nothing but definitive evidence that just like in stocks, precious metal investors are merely using every drop in prices as nothing more than a chance to "buy the f**king (fisical) dip"?

[Letsbereal]

On Dec. 7, 2010 gold reached an all time high of $1,431.25 oz

Stronghold at a minimum of $1317 is mentioned now.

1,431.25  minus 1,317= 114.25

114.25/ 1,431.25=8%

So that's 8% from it's all time high on Dec. 7th

[Letsbereal]

Richard Russell - Get Out of Your Dollar Assets Now!
25 January 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/1/25_Richard_Russell_-_Get_Out_of_Your_Dollar_Assets_Now!.html

Excerpt:

With gold and silver near recent lows and the US Dollar having broken key support at 78.50, the Godfather of newsletter writers Richard Russell had this warning for his subscribers, “Remember, many leading nations want to eliminate the US dollar as the world's reserve currency. If this happens, it will be one of the worst financial catastrophes in US history.”

Russell continues:

“Please study the daily chart (above). This is the US Dollar Index. Today there's no definition for the dollar. So how do we price the dollar? At one time, the dollar was priced in terms of the time-honored standards -- gold and silver. But today we must price the dollar against other fiat currencies. "A dollar is worth so much against the yuan, or so much against the pound sterling, or against the euro and so forth."

Thus we have the Dollar Index, an index that pits the dollar against six other fiat currencies. To get back to the chart, we see that the Dollar Index is now trading below its blue 50-day moving average. The 50-day, in turn, is below the red 200-day MA. Thus, the Dollar is in the classic bearish configuration as long as it trades below its 50-day MA.

Note also that the Dollar has now broken below three preceding lows, a bearish situation.

Furthermore, MACD has turned bearish, pushing the blue histograms into negative territory (bottom of the chart).

The real news, the critically important news, centers around the US dollar. It's as if you are reading a report on a building you want to buy. The report tells you all about the heating system, the repairs to the roof, the condition of the wood floors, but the report leaves out the critical fact that the foundation of the house is crumbling.

So it's the dollar, the dollar, the dollar, that I'm directing my subscribers' attention to. If the dollar collapses, every investment you own will be adversely affected -- your home, your stocks, your insurance policies, your bonds, your 401K -- everything that is denominated in dollars.

The Russell advice -- swap your dollars for physical gold or CEF, GLD, or SGOL. In other words, do as China and Russia and many other nation are now doing -- get out of your dollar assets.

...I realize that what I've written above may seem outlandish to many subscribers. Outlandish? Then you tell me how the US is going to finance a national debt of $13.9 trillion (some say the real debt is over $50 trillion). The fact is that we now BORROW just to pay the interest on the national debt. Treasury is moving the debt to ever-shorter maturities, hoping that the current zero interest rates on short debt will ease the situation. But with bonds sinking, rates are now rising, so what's the answer?

The answer is that we're eating ourselves up alive through compounding interest on our debt.

[Letsbereal]

Marc Faber on Bloomberg 01/25/11
http://www.youtube.com/watch?v=rpfr2SzXpH8

Marc Faber: "I like gold but I think it will go down for the time being.

There is a correction, an ongoing correction and from the top to the bottom the correction could be 20%"

Gold top was at $1431 on 7 Dec. 2010 so 20% down from that means gold at a bottom of $1145.

[Letsbereal]

World Gold Council Q4 Gold Digest
26 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/world-gold-council-q4-gold-digest

Excerpt:

The world gold council has released its quarterly comprehensive investment digest, as usual chock full of actual data, and not just anti-gold speculation based on myth.

Probably most relevant are the core facts: The gold price rose by 29% in 2010.

----

The report's key findings:

    * Gold price volatility at 16% on an annualised basis in 2010 remained consistent with its long-term trend. By comparison, volatility on the S&P Goldman Sachs Commodity Index was 21% during the year, based on daily returns.

    *  Gold benefited from the continued contagion from European sovereign debt problems as investors’ hedge their currency risk.  This was evidenced by strong gold buying in ETFs, bars, coins and other investment vehicles in Europe and other parts of the world.

    *  Investors bought 361 tonnes of gold in the ETFs the WGC monitors in 2010, bringing total holdings to a new high of 2,167 tonnes, worth US$98 billion. This represents the second largest yearly inflow on record, after the 617 tonnes of net inflows experienced in 2009.

    *  During the first nine months of 2010, global jewellery demand totalled 1,468 tonnes, increasing 18% from the same period during 2009. Gold demand for technological and industrial applications continued to recover during the first nine months of 2010, registering a 19% increase over the same period in 2009. Complete full-year data for gold demand will be available in February when the WGC publishes its Gold Demand Trends report.

    *  Central banks became slight net buyers of gold for the full-year, after two decades as a steady source of supply to the market. The IMF successfully completed its gold sales programme of 403.3 tonnes without disruption to the market. The Fund sold 200 tonnes to the Reserve Bank of India, 10 tonnes to Sri Lanka, 10 tonnes to Bangladesh and 2 tonnes to Mauritius, all in off-market transactions executed at market prices. The remaining sales were conducted through on-market sales within the ceiling set by the third Central Bank Gold Agreement (CBGA3).

[Letsbereal]

Meet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold Market
28 January 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/meet-man-behind-liquidating-hedge-fund-blew-gold-market

Excerpt:



Over the past several weeks there had been rumors that the reason for the precipitous drop in gold was primarily driven by a hedge fund liquidating its futures positions.

This has now been confirmed: http://online.wsj.com/article/SB10001424052748703399204576108463818702014.html

"Yeah, that was just me liquidating my spread position," Mr. Daniel Shak, [of SHK Asset Management] 51 years old, said in an interview.

"]I had a significant, fully margined position. The dollar amount of the gold liquidation was very small, it was just a lot of contracts."

Of course in the extremely jittery gold market, the kind of persistent marginal gross selling of contracts was all that was needed to spook weak hands into a consistent dump of the precious metal, which as we pointed out was beyond overdone.

Judging by this morning's jump in the PM complex, SHK's liquidation is now not only over but about to promptly reverse as daytrading momos realize they were duped by one single guy.

Look for gold to resume its upward advance as investors realize that the gold dump was nothing more than an ongoing futures position liquidation.

----

Bottom line, M2 just surged by the highest amount ever, Bernake will never stop monetizing, and fiat is continuing the race to the bottom.

Most importantly for those with a trigger finger response time, the liquidation is now over.

Keep a close eye out on the price of gold.

Note below what happens when a key selling catalyst is removed... or at least made apparent.

[Letsbereal]

As it seems I was right and Faber wrong gna gna gna, :lol: Godamn do I like to say that for different reasons all together. 

My theses: Gold has a bottom at $100 from the top at $1431 so at $1331.

Marc Faber on Bloomberg
http://www.youtube.com/watch?v=rpfr2SzXpH8

Marc Faber: “I like gold but I think it will go down for the time being. There is a correction, an ongoing correction and from the top to the bottom the correction could be 20%”

Gold top was at $1431 on 7 Dec. 2010 so 20% down from that means gold at a bottom of $1145.

[Letsbereal]

Stacy Herbert – 28:30 min:

“There was a bit of information we gathered from a Swiss banker regarding gold in the Middle-East. It was a very interesting story.

He said, that just recently, I guess in the last few weeks, a Middle-East buyer has aproached a well known banking family to find 1200 (metric) Tons of Gold for them.

That’s in the top five four Nations who would have that much gold”

listen to Max & Stacy - [1187] The Truth About Markets – 29 January 2011
http://maxkeiser.com/2011/01/29/1187-the-truth-about-markets-29-january-2011/

Download MP3: http://ia700404.us.archive.org/17/items/MaxKeiserRadio-TheTruthAboutMarkets-29January2011/TaM290111.mp3

[Letsbereal]

Greenspan in 1998, before Congress:

"Central banks stand ready to LEASE GOLD in increasing quantities, should its price rise."

http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm


William S. White June stipulated in 2005 ( head of the Monetary and Economic Department of the Bank of International Settlements in Basel ):

"One of the five main purposes of central bank cooperation is the provision of international credits and joint efforts to influence asset prices – especially gold and foreign exchange – in circumstances where this might be thoughtful."


Australian Central Bank 2003:

"Foreign currency reserves and gold are held primarily to support intervention in the foreign exchange markets!"


Dutch central bankster Nout Wellink (CFR member and Bilderberger) always said to his colleagues:

“There are two thing you can lie about as central banker, gold and interest rates.”


Jim Rickards about Gold Manipulation:

“We call it market manipulation the central banks simply call it policy"

[Letsbereal]

Tracking The Gold "Conspiracy" - GATA's Must Read Presentation To The Cheviot Asset Management Sound Money Conference
28 January 2011, by cpowell (GATA)
http://www.gata.org/node/9545

Just read it!

[Letsbereal]

The 13 Countries That Control the World’s Gold
26 January 2011, (24/7 Wallst)
http://247wallst.com/2011/01/26/the-13-countries-that-control-the-worlds-gold/

Excerpt:

1) United States holds 8,133.5 tonnes.

2) Germany holds 3,401.8 tonnes.

3) Italy holds 2,451.8 tonnes.

4) France holds 2,435.4 tonnes.

5) China holds 1,054.1 tonnes… and probably now more.

6) Switzerland holds 1,040.1 tonnes.

7) Russia holds 784.1 tonnes… and more.

8 ) Japan holds 765.2 tonnes.

9) The Netherlands holds 612.5 tonnes.

10) India holds 557.7 tonnes… and growing.

11) Taiwan holds 423.6 tonnes.

12) Portugal holds 382.5 tonnes.

13) Venezuela holds 365.8 tonnes.

[Letsbereal]

lol, is there really any way we still have that much and secondly, do we really have more than China?

thought someone here said Fort Knox was full o' IOUs

I agree nobody knows

This from Long John Silver:

Rumours abound that Ft’ Knox is mostly empty. The first conspiracy theory started with LBJ shipping 6,000 tons to England in a scheme to flood the gold market causing a drop in the gold price then buying the gold back at lower prices. According to the conspiracy theorists the market absorbed that flood of gold so LBJ could not buy it back at the reduced price allowing it to be returned to Ft’ Knox. The second conspiracy theory involves the French demanding the US Dollars they held be exchanged for Gold. Nixon attempted to bluff the French by shipping physical Gold from Ft’ Knox to Paris thinking the French could not deal with physical shipments of gold and would relent. Apparently they could deal with it which lead to Nixon taking the US Dollar off the Gold standard and refusing to exchange any more Gold for now paper fiat US Dollars. It’s said this gamble took nearly all the Ft’ Knox Gold.

[Letsbereal]

8Ball http://maxkeiser.com/2011/01/31/rickards-monday/#comment-235171

Yes, most of US Gold was shipped out of the country in the 50′s and 60′s. Christopher Weber: “Good as Gold…”

USG was complicit… Nelson Rockefeller had a secretary that mysteriously “fell” out of her appartment window when she revealed part of the scheme about how the Gold was being taken.

Simple answer to the question: If there is Gold in Ft. Knox, then allow a detailed audit… don’t hold your breath waiting on that. NY Fed Gold is mostlikely German and other foreign country’s holdings, not US.


alfred benton http://maxkeiser.com/2011/01/31/rickards-monday/comment-page-1/#comment-235199

….and not to forget the theory that during the 90′s, Rubin and Summers who both never had any use for gold, sold the US tonnage with Clinton’s blessing ! ……and that’s the REAL reason why Clinton was able to balance the books @ the end of each budget. As records showed, there were much gold movements between the US and Europe during his presidency !

Those of you who “buy” the fact that China has only 1000 tons are either delusional or naive considering that they have been mining gold for 1000s of years, have always been a closed and xenophobic society, and are known for misrepresenting statistical data.

I would also bet serious money that the US doesn’t have 8000 tons; no audit since the 50′s, in spite of numerous requests that always end with “it’s a national security issue”. What is the Treasury/NY FED hiding?

[Letsbereal]

Gold Bar Premiums at 17-Year High in Hong Kong – Safe Haven Bid on Inflation and Egypt Concerns
31 January 2011, (Gold Core)
http://campaign.r20.constantcontact.com/render?llr=nid4i7n6&v=001yqHNAgdI3XjCGSVG3QXREfNcTt0mIZin8Ij1XQ2SCvTXVjkAX9fnDO685Ze14TUfkqGjNroc1oFk0azTjg8c_9IxmlVu0hhJbpO2lS-DMq4%3D