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

[Letsbereal]

GOLD STARTLING NEW ALL TIME HIGH AT $1,576.30 oz from $1,569.30 oz http://www.goldprice.org/spot-gold.html

http://charts.kitco.com/KitcoCharts/

Gold Exactly $7 Up from former all time high.

[Letsbereal]

GOLDS’ NEW ALL TIME HIGH (GNATH) 2011 HALL OF FAME

$1,431.25 oz Dec. 07, 2010 GNATH – THE GOLD PRICE ROSE BY 29% IN 2010

$1,329.25 oz Decer. 10, 2010 LOW – Support level
$1,392.25 oz Janua. 11, 2011 HIGH – Resistance Level
$1,380.00 oz Febru. 03, 2011 Gold Break Out In Progress Gold has just surged by $20 in minutes.
$1,400.00 oz Febru. 21, 2011 Gold above $1400 again!!!! Gold Refuses To Stop Climbing!!!!
$1,435.60 oz March 01, 2011 GNATH
$1,437.70 oz March 02, 2011 GNATH
$1,445.70 oz March 07, 2011 GNATH

$1,430.00 oz March 21, 2011 Now! Will the record be broken today? Apparently not.
$1,446.75 oz March 24, 2011 GNATH? (GoldAlert)
$1,448.60 oz March 24, 2011 GNATH? (MarketWatch)

$1,440.00 oz April 04, 2011 GOLD’S RATTLING AT THE GATE AGAIN OF:
$1,457.80 oz April 05, 2011 GNATH Gold Broke $1,455!!!
$1,461.90 oz April 06, 2011 GNATH
$1,466.40 oz April 07, 2011 GNATH
$1,475.00 oz April 08, 2011 Record Market Close at:
$1,475.40 oz April 08, 2011 GNATH
$1,476.50 oz April 10, 2011 GNATH
$1,476.55 oz April 11, 2011 GNATH
$1,478.00 oz April 11, 2011 Bullion futures for June delivery also touched a record of:
$1,479.30 oz April 14, 2011 GNATH
$1,487.60 oz April 15, 2011 GNATH
$1,489.00 oz April 17, 2011 GNATH
$1,497.50 oz April 18, 2011 GNATH
$1,500.50 oz April 19, 2011 GNATH
$1,506.50 oz April 20, 2011 GNATH
$1,509.60 oz April 21, 2011 GNATH
$1,518.05 oz April 25, 2011 GNATH WoW STARTLING! Gold Parabolic! Just love it!
$1,530.40 oz April 27, 2011 GNATH
$1,537.40 oz April 28, 2011 GNATH
$1,569.30 oz April 29, 2011 GNATH
$1,576.30 oz May 01, 2011 GNATH

$2,300.00 oz Golds’ Inflation Adjusted All Time High between:
$2,500.00 oz And:

[Letsbereal]

$1,431.25 oz Dec. 07, 2010 From GNATH:
$1,576.30 oz May 01, 2011 To GNATH:
_________________
$145.05=

$1,392.25 oz Jan. 11, 2011 From HIGH – Resistance Level:
$1,576.30 oz May 01, 2011 To GNATH:
_________________
$184.05=

$1,329.25 oz Dec. 10, 2010 From LOW – Support level:
$1,576.30 oz May 01, 2011 TO GNATH:
_________________
$247.05=


Gap between:

$247.05 LOW to GNATH:
$145.05 GNATH to GNATH: – Minus
_________________
$102 = Exactly. Ain’t that a beaty

[Letsbereal]

GOLD REVISED NEW ALL TIME HIGH TO $1,577.40 oz (MarketWatch) http://www.marketwatch.com/story/gold-noses-back-up-toward-intraday-record-2011-05-02

[Letsbereal]

Portuguese Gold Sale Urged By Senior German Lawmakers As Mexican Central Bank Buys 100 Tonnes
4 May 2011, by Tyker Durden (Zero Hedge)
http://www.zerohedge.com/article/portuguese-gold-sale-urged-senior-german-lawmakers-mexican-central-bank-buys-100-tonnes

Excerpt:

Senior German Lawmakers Urge Portuguese Gold Sale

Another sign of the increased appreciation of gold as an important asset came from Germany today where Angela Merkel’s budget speaker and his opposition counterpart have urged Portugal to consider selling their gold.

Norbert Barthle, Germany’s governing coalition budget speaker and his counterpart Carsten Schneider from the Social Democrats, the biggest opposition party urged Portugal to consider selling some of its gold reserves to ease its debt problems. They called for a review of Portugal’s request for financial aid to include gold and other potential asset sales.

The German lawmakers did not specify who should buy the gold from the Portuguese central bank but given the challenges facing Germany and the Eurozone it is likely that the Bundebank and the ECB would be willing buyers – if the gold is not already encumbered due to Portugal’s membership of the Eurozone.

Interestingly, there was an article in the Times of London on Monday suggesting that the Portuguese gold reserves (worth some $20.7 billion at today’s prices) be used to fund their bailout (see news).

Meanwhile creditor nation central banks continue to accumulate gold reserves as seen with the breaking news from the Financial Times that the central bank of Mexico has been diversifying their currency reserves (largely in dollars) into gold with the purchase of 100 tonnes of gold bullion in February and March.

Debtor nations with large gold reserves may be forced to sell gold reserves to creditor nations in the coming years as has been the pattern throughout history.

[Letsbereal]

WSJ Reports Soros, Burbank Selling Gold, Silver, While Paulson Sees Gold Hitting $4,000 In Three Years
4 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/wsj-reports-soros-burbank-selling-gold-silver-paulson-sees-gold-hitting-4000-three-years

Excerpt:

The rumormill around who is buying and selling precious metals is getting more ridiculous than daily Radioshack LBO speculation.

[Letsbereal]

Market-manipulation mutterings intensify - Gold bug Russell adds voice to idea of Wall Street-Washington plot
5 May 2011, by Peter Brimelow (MarketWatch)
http://www.marketwatch.com/story/market-manipulation-mutterings-intensify-2011-05-05

Randgold gold output up 24% on year
5 May 2011, by Devon Maylie (MarketWatch)
http://www.marketwatch.com/story/randgold-gold-output-up-24-on-year-2011-05-05


Mexico adds 93.3 metric tons of gold to reserves - Thailand, Russia also buy gold; Kazakhstan sells
4 May 2011, by Claudia Assis, Rhiannon Hoyle (MarketWatch)
http://www.marketwatch.com/story/mexico-adds-933-metric-tons-of-gold-to-reserves-2011-05-04

Bank of Mexico buys 100 tons of gold in two months
4 May 2011, by Rhiannon Hoyle (MarketWatch)
http://www.marketwatch.com/story/bank-of-mexico-buys-100-tons-of-gold-in-two-months-2011-05-04

Gold moves pit Soros against Paulson - Soros reportedly sells, while Paulson & Co. sees much higher prices
4 May 2011, by Alistair Barr (MarketWatch)
http://www.marketwatch.com/story/soros-sells-gold-silver-investments-report-2011-05-04

Silver, gold hit by report of Soros selling
4 May 2011, (MarketWatch)
http://www.marketwatch.com/story/silver-gold-hit-by-report-of-soros-selling-2011-05-04


Soros, Burbank selling off gold, silver: WSJ
3 May 2011, by Michael Kitchen (MarketWatch)
http://www.marketwatch.com/story/soros-burbank-selling-off-gold-silver-wsj-2011-05-03

[Kilika]

They know the only way to make money in commodities is volitility. And if there isn't any, they create it, to get things moving in one direction or the other, but they got to have it moving for the scam to work.

[charrington]

Upping the Silver margins contributed a great deal but now there really isn't any resistance point to stop the falling. Which is fine because we all know they are loading up on metals so it's just wait and look for re-entry at a lower price .. That's actually some good news.

I tend to ignore a lot of those posts about gold though they are not trading in unison and silver is mostly for commercial use rather than a monetary bullion like gold.

[Letsbereal]

Central Banks Expand Gold Reserves With $6 Billion in Purchases
5 May 2011, by Nicholas Larkin (Bloomberg)
http://www.bloomberg.com/news/2011-05-05/central-banks-expand-gold-reserves-with-6-billion-in-purchases.html

Excerpt:

Mexico, Russia and Thailand added gold now valued at about $6 billion to their reserves in February and March as prices advanced to a record, the dollar weakened and Treasuries lost investors money.

Mexico bought 93.3 metric tons since January, increasing holdings from about 6.9 tons, according to data from the International Monetary Fund, and the nation’s central bank later said it purchased 100 tons in recent months.

Russia increased reserves 18.8 tons to 811.1 tons in March and Thailand expanded assets 9.3 tons to 108.9 tons in the same month, the data show.

Central banks are expanding their gold reserves for the first time in a generation as purchases by billionaire investors including John Paulson contributed to bullion extending its longest winning streak since at least 1920.

[Letsbereal]

Hynes Advises Using Gold to Hedge `Debasement' of Dollar (Bloomberg Vid) http://www.youtube.com/watch?v=ii6kxmAGVLw

[Letsbereal]

Robert Kiyosaki - Goldseek Radio 04 May 2011 http://www.youtube.com/watch?v=nll3EMx8IXQ

[Letsbereal]

RAF aerial photos from WW2 used to discover location of £500m Nazi gold bunker
9 May 2011, by Allan Hall (Daily Mail)
http://www.dailymail.co.uk/news/article-1385135/Nazi-gold-worth-500m-using-R-A-F-aerial-photos-WW2.html

    Wartime photos used to pinpoint secret bunker location

    Luftwaffe bombed area to destroy evidence at the end of the war

    Human remains, believed to those of slave labourers who built it, discovered 

[Letsbereal]

Gold Trade Is Only Winner in Inflation Attack: William Pesek
9 May 2011, by William Pesek (Bloomberg)
http://www.bloomberg.com/news/2011-05-09/gold-trade-is-only-winner-in-inflation-attack-commentary-by-william-pesek.html

Excerpt:

Nguyen Van Giau sighs audibly and shifts in his chair when I ask him the dreaded question: Is Vietnam losing its inflation battle?

It’s one the country’s central bank governor can barely go an hour without fielding these days. Such is life in a nation where consumer prices climbed almost 18% in April from a year earlier.

Giau’s assurances that he’s committed to taming inflation aren’t resonating with Vietnam’s 87 million people. The steady erosion of the currency has driven locals to hoard gold as the dollar grows shaky. Capital controls don’t stop households from swapping growing piles of dong for hard assets.

----

Part of the problem is that Asia has internalized the Federal Reserve’s core inflation philosophy. From Hanoi to Beijing, policy makers have been reluctant to tighten credit on the assumption that inflation is being unduly driven by a short- term rise in food and energy costs, while other prices are stable.

Home Grown

There are now indications that inflation isn’t just being imported, but increasingly generated domestically. Strong domestic demand is placing increased pressure on prices that won’t go away even if food and energy inflation moderates.

That puts the onus on central banks to assume the role of party pooper. Granted, it’s an incredibly difficult balancing act. Clamp down too much on credit, and officials might derail Asia’s rapid growth and rising living standards. Also, each rate increase risks courting even more hot money. It’s a supreme paradox of modern central banking: the more you act to pull liquidity out of the domestic banking system, the greater the influx of cash from overseas.

----

Take Indonesia, a clear emerging-market favorite these days. Bank Indonesia Governor Darmin Nasution said last week that the urgency to adjust rates is “not too high” even after core inflation accelerated to 4.62% in April from 4.45%. An appreciating currency won’t be enough to keep these increases from taking on a life of their own.

----

And then there’s Vietnam, a cautionary tale among developing economies. It exudes potential, and its natural resources, demographics and low-cost labor are attracting the world’s attention. And yet Vietnam has too much of a good thing on its hands: too much money chasing too few stable investments.

Hard Lessons

The result is potential overheating that threatens to undermine an economy that recently gained middle-income status. There’s plenty of reason to think Vietnam will get things right, and that goes for the rest of Asia, too. The key is for central banks to get to work.

In the late 1990s, Asia learned the hard way that booms must be calibrated to avoid busts. The region is now at such a juncture and bold action is needed.

If Asian inflation rates follow Vietnam into double digits, the only winners will be gold speculators.

[Letsbereal]

Gold Rises for Third Day as Europe Debt Concern Fuels Demand; Silver Gains
10 May 2011, by Nicholas Larkin and Kim Kyoungwh (Bloomberg)
http://www.bloomberg.com/news/2011-05-10/silver-extends-rebound-as-s-p-s-downgrade-of-greece-fans-investors-demand.html

Excerpt:

Gold rose for a third day in New York as concern about Europe’s debt woes spurred demand for precious metals as a protection of wealth. Silver gained.

----

Gold for June delivery rose $12.80, or 0.9%, to $1,516 an ounce by 7:57 a.m. on the Comex in New York.

Prices declined 4.2% last week after climbing to a record $1,577.40 on May 2.

Immediate-delivery gold was 0.2% higher at $1,516.50 in London.

Bullion rose to $1,517.25 an ounce in the morning “fixing” in London, used by some mining companies to sell output, from $1,502 at yesterday’s afternoon fixing.

Spot prices have gained the past 10 years, the longest run of gains since at least 1920 in London.

[Letsbereal]

John Embry on why you should buy Gold http://www.youtube.com/watch?v=Gfa2Q9c21qU

[Letsbereal]

J.P. Morgan's hunt for Afghan gold
11 May 2011, by James Bandler (Fortune - CNN)
http://management.fortune.cnn.com/2011/05/11/jp-morgan-hunt-afghan-gold/

A team of bankers starts to tap the country's vast mineral riches, with help from the Pentagon.

[Letsbereal]

Central Banks Purchase 127 Tons Of Gold In Q1
12 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/central-banks-purchase-127-tons-gold-q1

[Letsbereal]

Hong Kong weighs launch of yuan gold futures
13 May 2011, by Michael Kitchen - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/hong-kong-weighs-launch-of-yuan-gold-futures-2011-05-13

[Letsbereal]

Gerald Celente - Steve Forbes Flip-Flop on Gold http://www.youtube.com/watch?v=_huzvTgSLY8

Steve Forbes is championing a return to a gold standard in five years time. Will that help the slumping American economy though?

Gerald Celente of the Trends Research Institute says no.

Forbes has flip-flopped on the issue before and his predictions regarding the price of oil never panned out.

Today, it seems, like the only thing "good as gold" is the decline of the US dollar.

[Letsbereal]

Gold Bet Pays Off as Dollar Tumbles
13 May 2011, by Anatoly Medetsky (The Moscow Times)
http://www.themoscowtimes.com/business/article/gold-bet-pays-off-as-dollar-tumbles/436725.html

[Letsbereal]

Louise Yamada - $5,200 Gold is Long-Term Channel Target
14 May 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/14_Louise_Yamada_-_$5,200_Gold_is_Long-Term_Channel_Target.html


Robin Griffiths - Silver Could Eclipse $450, Gold $12,000
14 May 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/12_Robin_Griffiths_-_Silver_Could_Eclipse_$450,_Gold_$12,000.html

[Letsbereal]

Gold and silver snapped up by bullish Indians
13 May 2011, by Jack Farchy and James Fontanella-Khan (The Financial Times)
http://www.ft.com/intl/cms/s/0/f234af36-7d84-11e0-b418-00144feabdc0.html

The sharp drop in gold and silver prices has stimulated a surge in buying from India in a sign that consumers in the world’s largest gold-buying country retain faith in the decade-long bull story for precious metals.

Bankers have been surprised by the strength of Indian demand in the past week, when gold dropped below $1,500 a troy ounce and silver tumbled below $35 a troy ounce.

UBS and Standard Bank, two large bullion dealers, have enjoyed some of the strongest days of sales to India this year, according to analysts at the banks, while others reported a similar surge.

The buying from India, which accounts for a fifth of global gold demand and a 10th of demand for silver, comes as some investors in the west have cut exposure to precious metals and other commodities, spooked by a series of steep falls and the imminent end of quantitative easing in the US.

Investors have cut their holdings of gold and silver through exchange-traded funds by 1.4% and 5.7% respectively in the past two weeks.

But in Mumbai’s bustling Zaveri market, the gold hub of India’s wealthiest city, traders were suffering from no such jitters.

Indeed, they were fiercely elbowing one another to grab as many shiny bars as possible last Friday amid expectations that falling prices would cause demand to soar.

“Tonight people will be invading the market to buy gold ... I’m here to refill as I’m running out of bars,” said Amit Soni, a vendor standing in the packed store with a bag of cash in one hand and his mobile in the other to monitor the sales back at his shop.

The apparent confidence of Indian consumers in a rapid price rebound could provide a floor for the market, analysts said.

Walter de Wet, head of commodities research at Standard Bank, said that gold would “continue to push higher” and touch new highs this year.

“The metal has reached $1,500 and we expect it to consolidate above this level soon,” he said.

On Friday gold was trading at $1,487, down 0.5% per cent on the week, and silver at $34.50, down 2.8% on the week.

Indians traditionally buy gold for weddings or festivals, but traders say the nature of the market is shifting as gold and silver buyers become more speculative.

In common with many emerging economies, high inflation in India is driving investors into precious metals as a store of value when rising prices erode the value of their paper currencies.

For that reason, many analysts and investors believe gold prices could soon resume their upward march and reach new record highs before the year is out.

Chhabil Jain, a Mumbai silver trader, said that demand for silver bars was going through the roof and that many vendors were starting to run low on stocks.

“People are booking incredible amounts of silver as they see the current drop in prices as a great opportunity to buy more ... most are buying for pure investment,” he added.

[Letsbereal]

Gold ends up 1%, reclaiming $1,500 level
20 May 2011, by Claudia Assis and Sarah Turner (MarketWatch)
http://www.marketwatch.com/story/gold-futures-advance-in-tug-of-war-market-2011-05-20

Gold futures surpassed the $1,500-an-ounce mark on Friday, as euro-zone debt fears resurfaced and trumped a rising dollar ahead of regional elections in Spain.

[Letsbereal]

China overtakes India as top gold market
20 May 2011, by Chris Oliver - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/china-overtakes-india-as-top-gold-market-2011-05-20

Chinese investors more than doubled their purchases of gold in the first quarter from a year earlier, channeling $4.1 billion into gold bars and coins and surpassing India as the world’s largest investment market.

[Letsbereal]

Investor Alert - Asian Tiger Sinks Teeth Into Gold
20 May 2011, by Frank Holmes CEO and Chief Investment Officer (U.S. Global Investors)
http://www.usfunds.com/investor-resources/investor-alert/

The World Gold Council (WGC) released its quarterly “Gold Demand Trends” report this week and, as always, it was filled with fascinating data on the strength of the global gold market.

Gold demand grew 11% to 981.3 tons during the first quarter of 2011, worth $43.7 billion at quarter-end’s price levels.

The increase was driven by a significant rise in demand for gold as an investment, up 26% from a year ago, as emerging markets look to protect their assets from rising inflation.

Demand for gold bars and coins was up 62% and 42%, respectively.

A slight pullback in prices during the middle of the quarter and “persistent high inflation levels” pushed China into the position as the world’s largest market for gold investment.

Chinese citizens devoured nearly 91 tons of gold bars and coins, more than double the amount of a year ago.

This isn’t exactly a new phenomenon in China. From 2007 to 2010, investment demand grew at a compounded annual growth rate of 68%, according to the CPM Group.

The firm forecasted Chinese investment demand to increase 34.7% during 2011 but based on this new data, it may need to adjust its forecast.

Song Qing, director of Shanghai-based Lion Fund Management, told Bloomberg news that,

“Gold has taken on a new role in China amid concern about inflation…Just imagine the total wealth in China and even a small percentage of that choosing to buy gold.

This demand is going to be enormous.”

The “Love Trade” was also in full swing during the first quarter. Led by India and China, jewelry demand rose 7% on a year-over-year basis.

Combined, the countries accounted for roughly 67% of world total jewelry demand.

For the first time, the demand for gold in China was so strong during the first quarter it outpaced the combined total of the developed West.

If you lump together the gold demand of the U.S., France, Germany, Italy, Switzerland, the U.K. and other European countries, the sum of these countries is still outpaced by China.

That’s despite triple-digit increases in demand from France, Germany and Switzerland.

[Letsbereal]

What Do These Major Currencies Tell Us About Gold, The Dollar?
30 March 2011, by Kevin McElroy (Seeking Alpha)
http://seekingalpha.com/article/260835-what-do-these-major-currencies-tell-us-about-gold-the-dollar

Excerpt:



It’s kind of difficult to make out, but there’s a huge disparity between the US dollar’s loss of gold-purchasing power (more than 450%), and the Swiss Franc’s loss of gold purchasing power (less than 200%).

The question is: why did the Swiss Franc lose half as much purchasing power as the US dollar?

Or perhaps even more interestingly, how is it possible that the dollar lost 1.5 times more purchasing power than the euro? The weak-sister, debt-plagued, hodge-podge euro is stronger than the dollar after the past ten years?

I could come to a variety of confusing conclusions after looking at the chart above. I’m sure there are dozens of economists who would pounce down my throat after making any one of them.

But I think a dollar crisis is the only logical conclusion we can come to.

Regardless of how we got here, whose fault it is, who pushed the printing press lever, or who spent beyond whose means –

the point is: we’re here. Crisis isn't just on its way. It's here. The dollar is in crisis.

[Letsbereal]

Hong Kong launches new gold trading platform
18 May 2011, by Chris Oliver - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/hong-kong-launches-new-gold-trading-platform-2011-05-18

Shanghai Planning Gold Exchange-Traded Funds to Tap Rising Demand in China
21 May 2011, (Bloomberg)
http://www.bloomberg.com/news/2011-05-21/shanghai-planning-gold-exchange-traded-funds-to-tap-rising-demand-in-china.html

[Letsbereal]

Gold, silver coins to be legal currency in Utah
22 May 2011, by Josh Loftin - Salt Lake City (Associated Press)
http://hosted.ap.org/dynamic/stories/U/US_BACK_TO_GOLD

Excerpt:

Utah legislators want to see the dollar regain its former glory, back to the days when one could literally bank on it being "as good as gold."

To make that point, they've turned it around, and made gold as good as cash.

Utah became the first state in the country this month to legalize gold and silver coins as currency.

The law also will exempt the sale of the coins from state capital gains taxes.

----

Earlier this month, Minnesota took a step closer to joining Utah in making gold and silver legal tender.

A Republican lawmaker there introduced a bill that sets up a special committee to explore the option. North Carolina, Idaho and at least nine other states also have similar bills drafted.

----

"Making gold and silver coins legal tender sends a strong signal to Congress and the Federal Reserve that their monetary policy is failing," said Ralph Danker, project director for economics at the Washington, D.C.-based American Principles in Action, which helped shape Utah's law.

"The dollar should be backed by gold and silver, so we have hard money."

----

Utah is now allowing the coins to be used as legal tender while levying no taxes.

[Amos]

Gold, silver coins to be legal currency in Utah
22 May 2011, by Josh Loftin - Salt Lake City (Associated Press)
http://hosted.ap.org/dynamic/stories/U/US_BACK_TO_GOLD

Excerpt:

Utah legislators want to see the dollar regain its former glory, back to the days when one could literally bank on it being "as good as gold."

To make that point, they've turned it around, and made gold as good as cash.

Utah became the first state in the country this month to legalize gold and silver coins as currency.

The law also will exempt the sale of the coins from state capital gains taxes.

----

Earlier this month, Minnesota took a step closer to joining Utah in making gold and silver legal tender.

A Republican lawmaker there introduced a bill that sets up a special committee to explore the option. North Carolina, Idaho and at least nine other states also have similar bills drafted.

----

"Making gold and silver coins legal tender sends a strong signal to Congress and the Federal Reserve that their monetary policy is failing," said Ralph Danker, project director for economics at the Washington, D.C.-based American Principles in Action, which helped shape Utah's law.

"The dollar should be backed by gold and silver, so we have hard money."

----

Utah is now allowing the coins to be used as legal tender while levying no taxes.

Awesome

[Letsbereal]

James Turk - Gold to Have a Staggering Up-Move This Summer
23 May 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/23_James_Turk_-_Gold_to_Have_a_Staggering_Up-Move_This_Summer.html

[Letsbereal]

The European Gold Confiscation Scheme Unfolds: European Parliament Approves Use Of Gold As Collateral
25 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/european-gold-confiscation-sceme-unfolds-european-parliament-approves-use-gold-collateral

Excerpt:

Wonder why Europe is pressing so hard for Greece (and soon the other PIIGS) to collateralize its pre-petition loans on a Debtor in Possession basis?

Here is your answer: "Yesterday’s unanimous agreement by the European Parliament’s Committee on Economic and Monetary Affairs (ECON) to allow central counterparties to accept gold as collateral,

under the European Market Infrastructure Regulation (EMIR), is further recognition of gold’s growing relevance as a high quality liquid asset.

This vote reinforces market demand for a greater choice of assets that can be used as collateral to meet margin liabilities."

Luckily for Greece, it has 111.5 tons of gold in storage (somewhere at the New York Fed most likely).

Looking down the road, Portugal has 382.5 tons, Spain 281.6, and Italy leads the pack with 2,451.8 tons.

Complete press release:

The Economic and Monetary Affairs Committee of the European Parliament has approved gold to be used as collateral confirming its status as a high-quality liquid asset

[Letsbereal]

Gold prices likely to stay high: China executive
26 May 2011, Shanghai (MarketWatch)
http://www.marketwatch.com/story/gold-prices-likely-to-stay-high-china-executive-2011-05-26

Gold prices may stay at high levels in the coming months as investors seek a safe store of value amid slowing global economic recovery, a weaker dollar and geopolitical uncertainties, China National Gold Group Corp. General Manager Sun Zhaoxue said Thursday.

"The future of gold looks very promising," especially in view of rising investment and physical demand in China, said Sun, who is also president of China Gold Association.

China's annual gold demand will likely exceed 700 metric tons in the next several years, while annual output may reach 400 tons in the next three years, Sun said.

Chinese demand rose 21% to 571.5 tons last year, with gold jewelry demand totaling CNY270 billion in value, he said.

A Chinese person now owns about 4 grams on average, from a little over one gram a few years ago, but it is still well below the world average, he said, without elaborating.

"There is a gold investment rush among Chinese investors as they consider it a hedging tool."

Investment in gold bars increased 94% to 141.9 tons in 2010, while investment in gold coins was up 55% at 16.6 tons.

China's investment demand in the first three months of the year more than doubled to 90.9 tons, outpacing India's 85.6 tons, the World Gold Council said in a quarterly report.

China's gold reserves account for about 6% of total global reserves and its proven gold reserves reached 6,327 tons in 2009.

China's gold mineral reserves account for about 6% of the world's total, but the quality is lower than those found in South Africa, Russia and Australia.

[Letsbereal]

Rob McEwen - Once $3,000 Falls Gold will Launch Like a Rocket
27 May 2011, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/27_Rob_McEwen_-_Once_$3,000_Falls_Gold_will_Launch_Like_a_Rocket.html

[Letsbereal]

Bill Murphy and James Turk discuss gold price manipulation - 43:23 min Vid http://www.goldmoney.com/video/murphy-turk-interview.html

[Letsbereal]

Marc Faber: Prepare For Another War
26 May 2011, by By Jonathan Chen (Benzinga)
http://www.benzinga.com/trading-ideas/short-ideas/11/05/1114866/marc-faber-prepare-for-another-war

Faber concluded by saying that he thinks we should prepare for the next war time, and gold might go ballistic.

He said having gold all over the world is a safe hedge from potential confiscation.

[Letsbereal]

Add The Middle East To China And India As Another Source Of Surging Gold Demand, Says Jim O'Neill
28 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/add-middle-east-china-and-india-another-source-surging-gold-demand-says-jim-oneill

Excerpt:

The latest observations the spread of gold's popularity comes from none other than BRIC expert, Goldman's Jim O'Neill, who advises clients in his latest letter that it may be prudent that in addition to China and India as a source of ever increasing demand for gold, it may be time to also add the Middle East to the ever increasing list of investors (typically quite wealthy) who believe in the yellow metal.

"Not because of this particular anecdote, but the Middle East being what it is, my meetings involved more discussion about Gold prices than is usually the case in other parts of the world.

While the gold bar machine anecdote adds to all the other colourful stories I pick up, the recent remarkable resilience of gold, despite what has happened to silver and other commodities, is rather impressive.

This gold price strength may perhaps be just a simple function of both the extremely low level of G7 real interest rates and the prospect that they might not rise anytime soon.

I got the impression that there a quite a few bulls of Gold in the Middle East."

[Letsbereal]

Shanghai Gold Exchange trades 6051 tons of gold in 2010
30 May 2011, Shanghai (Commodity Online)
http://www.commodityonline.com/news/Shanghai-Gold-Exchange-trades-6051-tons-of-gold-in-2010-39452-3-1.html

Trade volumes in spot and forward markets in China’s largest gold bourse ,the Shanghai Gold Exchange (SGE) surged, thanks to country’s investment frenzy in the metal.

According to Wang Zhe, SGE president, total gold traded on the exchange rose 28.5% from a year ago to 6,051.5 tons in 2010, while the total turnover jumped 57%.

The trading volume for silver was 73,615 tons in 2010, a meteoric 353% rise from a year ago.

The SGE, China's only specialized precious metals exchange, started a trial of over-the-counter trading in April and is studying ways of establishing a platform to provide open gold lease rates in China.

Earlier, China National Gold Group said country’s move to consolidate the gold-mining sector, improve technology and encourage exploration at depths exceeding 1,000 metres would combine to boost underground reserves and output.

China's gold output in the first three months of 2011 totaled 73.4 tons, up 4.6% from the same period in 2010, the Ministry of Industry and Information Technology said.

[Letsbereal]

Despite Preemptive Gold Margin Hike In Shanghai, Gold Is Poised To Close May Near Record On Sovereign Risk Worries
30 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/despite-preemptive-gold-margin-hike-shanghai-gold-poised-close-may-near-record-sovereign-ris


China SAFE Reports Monetary Gold Holdings Increased By $11 Billion, Or 30%, In 2010, As Gross Foreign Financial Assets Pass $4 Trillion
30 May 2011, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/article/china-safe-reports-monetary-gold-holdings-increased-11-billion-or-30-2010-gross-foreign-fina

[Letsbereal]

China’s foreign assets grow, boosted by gold buys
30 May 2011, by Chris Oliver - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/chinas-foreign-assets-grow-boosted-by-gold-buys-2011-05-30

The government’s holdings of overseas financial assets climbed to $4.126 trillion in 2010, according to the State Administration of Foreign Exchange.

The figure included reserve assets of $2.914 trillion, investments in securities, direct investments and gold, SAFE said in the statement.

The foreign-exchange regulator said China’s gold holdings totalled $48.1 billion, rising nearly 30% for the year, SAFE said.

Holdings of securities totaled $257.1 billion, while direct investments totaled $310.8 billion, rising 5.8% and 26.4%, respectively, from a year earlier, SAFE said.