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

[Letsbereal]

IMF to buy Gold worth $2.3 billion as credit risk increases
14 May 2012, New York (Commodity Online)
http://www.commodityonline.com/news/imf-to-buy-gold-worth-$23-billion-as-credit-risk-increases-48052-3-48053.html

The International Monetary Fund (IMF) is planning to purchase more than $2 billion worth of gold on account of rising global risks.

The IMF currently holds around 2800 tonnes of gold at various depositories.

“The Fund is facing increased credit risk in light of a surge in program lending in the context of the global crisis.

While the Fund has a multi-layered framework for managing credit risks, including the strength of its lending policies and its preferred creditor status, there is a need to increase the Fund’s reserves in order to help mitigate the elevated credit risks”, Bloomberg quotes a report by an IMF staff while also adding that a $2.3 billion gold purchase is in the planning.

IMF's borrowers include Eurozone countries like Greece and Portugal. Greece is IMF's biggest borrower and the nation is currently caught in a political deadlock that seems bent on denying itself the much needed bailout fund.

Countries like Spain is also officially in recession after its first quarter GDP contracted.

Other nations in the Eurozone region is also showing increased signs of slow manufacturing activity and economic growth.

In such a risky financial environment, the IMF's move could be considered wise and can be seen as an indication of how much trust the mainstream financial community now has on precious metals like gold.

[Letsbereal]

Gold now at $1,545/oz support level, the low on December 29th 2011 http://www.goldprice.org/spot-gold.html

[Letsbereal]

Bundesbank Confirms German Gold Held By FED, BOE and Banque De France
15 May 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/bundesbank-confirms-german-gold-held-fed-boe-and-banque-de-france

“there is no doubt about the integrity and the reputation of these foreign central banks where the gold is held.”


LOlz, the central banksters are a trustable bunch, according to the Bundesbank.

Truth is that they don’t dare ask cause the gold simply isn’t there anymore i.a.w. they can’t handle the truth.

[Letsbereal]

Gold just bounced off $1,539/oz http://www.goldprice.org/spot-gold.html

[Letsbereal]

Gold just bounced off $1,533/oz http://www.goldprice.org/spot-gold.html


John Embry on KWN May 15, 2012 - Audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/5/15_John_Embry.html

[Letsbereal]

Gold miners need $3,000 price in five years - gold council
14 May 2012, (Reuters)
http://www.reuters.com/article/2012/05/15/peru-mining-wgc-idUSL1E8GF0AR20120515

* Mining costs increasing steeply

* Emerging markets, central banks to drive demand

May 14- Sharp increases in mining costs mean gold will need to reach $3,000 an ounce in five years for the industry to stay profitable, World Gold Council chief executive Aram Shishmanian said on Monday.

Miners currently needed a gold price of $1,300 to survive, Shishmanian said, but faced steep rises in mining costs, along with the cost of dividends and host nation taxes.

"If this continues for the next five years the gold price needs to be at least $3,000 just to stay in the business," he said.

However, he was optimistic sustained demand would drive prices higher over the long term.

Spot gold fell to a four-and-a-half month low of $1,556.5 an ounce on Monday on concerns over the European debt crisis.

Normally a refuge for investors in times of economic turmoil, gold has recently traded in line with risk assets like base metals and stocks.

Future demand would come from emerging markets, central banks and investors, Shishmanian said, noting that China and India now represent 55% of the world gold market.

"Emerging markets are going to hold increasing amounts of gold reserves," Shishmanian said. "Holding billions of dollars doesn't help them. The alternative potentially is gold."

Exchange traded funds backed by gold currently hold $120 billion, he said.

"This is the tip of the iceberg," he said. "U.S. pension funds do not hold substantial amounts of gold but we see that changing over the next 20 years."

[Letsbereal]

Gold Fields 1st-period net up on price, tax credit
17 May 2012, by Devon Maylie - Johannesburg (MarketWatch)
http://www.marketwatch.com/story/gold-fields-1st-period-net-up-on-price-tax-credit-2012-05-17

Gold Fields Ltd. Thursday posted a rise in first-quarter net earnings and stable production from a year ago and said it expects to produce roughly the same amount of gold this year as last.

Johannesburg-based Gold Fields, Africa's second-largest producer of the precious metal, reported net profit for the quarter ended March 31 of $272 million compared with $204 million the year before, helped by a stable gold price and a $33 million tax credit.

"Net earnings remained robust benefiting from a stable gold price combined with continued sound cost control," said Chief Executive Nick Holland.

Revenue for the quarter was $1.442 billion versus $1.285 billion the same period in 2011. Operating profit was $699 million up from $586 million the year before.

Mining companies in South Africa are experiencing bigger than normal drops in output on account of labor disruptions and Department of Mineral Resources-mandated safety stoppages, that are occuring at a higher frequency.

Gold Fields said attributable gold production in the first three months of 2012 totaled 827,000 troy ounces, roughly unchanged from 830,000 ounces the year before.

The company said gold production increased at its West African mines while it fell in South Africa.

Gold Fields is aiming to produce or have in development 5 million ounces of gold a year by 2015 as it develops mines and exploration outside South Africa.

For the full year of 2012 it forecasts output around 3.5 million ounces.

The total cash cost rose to $870/oz from $751 an ounce. Gold Fields shares closed at ZAR98.80 Wednesday.

[Letsbereal]

China tops India as No. 1 gold consumer: WGC
17 May 2012, by Francesca Freeman - London (MarketWatch)
http://www.marketwatch.com/story/china-tops-india-as-no-1-gold-consumer-wgc-2012-05-17

China topped India as the world's top consumer of gold in the first quarter of this year, cementing expectations that China will be the dominant buying force in the gold market in 2012, the World Gold Council said Thursday.

Indian gold demand dropped 19% on the year in the first three months of the year, to 207.6 metric tons.

The domestic gold sector was rattled by strikes following the announcement of new taxes on the gold trade and weakness in the Indian rupee made dollar-denominated gold more expensive for Indian buyers.

In contrast Chinese gold demand rose 7% in the same period, to 255.2 tons, according to the WGC.

Between them, China and India accounted for 54% of global gold demand in the first quarter.

Although Chinese demand growth is starting to moderate and Indian gold demand is expected to pick up this quarter as the market adjusts to the new legislation and tax structure, China should remain the world's top gold consumer for the balance of the year, said the WGC.

"We still expect China to exceed India this year in overall gold demand," Marcus Grubb, WGC managing director of investment, told Dow Jones Newswires in an interview.

[Letsbereal]

India struggles to balance its books as citizens lust for gold
17 May 2012, by Shyamantha Asokan – Mumbai (The Washington Post)
http://www.washingtonpost.com/world/asia_pacific/indians-affinity-for-gold-pushing-country-into-debt/2012/05/17/gIQAxsjZVU_story.html

“Money can change value,” said Jain, as he watched his assistants and customers do battle.

“But when you have gold, no one can cheat you.”

[Letsbereal]

Alasdair Macleod: All Roads in Europe Lead to Gold http://www.youtube.com/watch?v=s0l5JlufLts

This week we bring back Alasdair Macleod, publisher of Finance and economics.org, because, as he puts it "every horror that we discussed last time we spoke is coming about". Especially scary since our previous conversation with him was less than three weeks ago...

Today's interview continues building on his excellent synopsis from last month that detailed the origins of the Eurozone crisis. The fundamental shortcomings warned of at the Euro's creation in 1997, combined with the excessive sovereign debts run up since then, have finally expressed themselves at a scale too large to be contained any longer.

Today, Alasdair details in-depth the huge and serious challenges facing Greece and the major Eurozone countries, and the likely impacts of the fast-dwindling options left remaining.

He sees no happy ending to this story, no outcome in which serious pain and permanent behavior change can be avoided. And for those looking for shelter from the unfolding economic storm, he sees few options besides the precious metals (which he believes are severely under priced at the moment).

[Letsbereal]

The return of gold buying by large institutions
18 May 2012, by William Bancroft, The Real Asset Co, UK (Commodity Online)
http://www.commodityonline.com/news/the-return-of-gold-buying-by-large-institutions-48153-3-48154.html

After the $1 bn purchase of gold bullion in 2011 April by the University of Texas Investment Management Co, large institutional investors were largely absent from the market.

Now, the Financial Times has reported that Okayama Metal and Machinery has become the first Japanese pension fund to make public purchases of gold.

Traditionally pension funds have ignored gold due to their focus on yields. Japan is the world’s second largest pension market, and this move by Okayama Metal & Machinery is worth paying close attention to.

Such a move into non-yielding assets becomes more palatable in a world of negative real interest rates where institutional investors are paying for the ‘privilege’ of holding government paper.

Mizuho Trust & Banking, a unit of Mizuho Financial Group, has begun to offer investment schemes allowing smaller pension funds to invest in gold…

While few fund managers are counting on a crash in core assets such as Japanese government bonds, said Takahiro Morita, head of the Tokyo arm of the World Gold Council, a producers’ association, they were increasingly receptive to the idea that gold could act as a buffer against shocks.

“Last year’s tsunami and the eurozone debt crisis shows that it was wise to expect the unexpected,” he said…

Nomura, Japan’s biggest wealth manager, added a gold option to its monthly survey of 1,000 randomly selected retail investors in February.

Every month since, gold has been ranked the third-most desirable addition to portfolios, well ahead of competing assets such as investment trusts, bonds or foreign securities.

Succinctly explaining recent performance across asset classes, Yoshio Kuno, Japan head of Newedge, the futures broker, argued that “If you look at assets over the past couple of decades, equity has been a loser, while fixed income offers tiny coupons. Gold is becoming an acceptable currency substitute.”

(Click here for a full version of the report: Whales in Gold) http://therealasset.co.uk/whales-gold-bullion/

[Letsbereal]

John Embry and James Turk on why the Gold Bull Market isn’t Over http://www.youtube.com/watch?v=HM8OHjIF6EY


I havn't seen Bernankesan's helicopter yet if so I would take the paper and buy gold immediately

When is helicopter Ben gonna fly over the people? I only see drones


Gold miners need $3,000 price in five years - gold council
14 May 2012, (Reuters)
http://www.reuters.com/article/2012/05/15/peru-mining-wgc-idUSL1E8GF0AR20120515


"The CIO’s “non-vanilla” portfolio is now over $150bn in size."

From: JPMorgan unit has $100bn of risky bonds
18 May 2012, by By Sam Jones in London and Tracy Alloway and Tom Braithwaite in New York (Financial Times)
http://www.ft.com/intl/cms/s/0/8ef035de-a043-11e1-88e6-00144feabdc0.html

[Letsbereal]

Kubrick’s 'The Shining' Hidden Gold Story Exposes The FED & FIAT Money Scam

The Shining: Kubrick’s Gold Story film analysis by Rob Ager

6 Feb 2012

1/4 http://www.youtube.com/watch?v=mAQnfOXqiR0

2/4 http://www.youtube.com/watch?v=M7xVGy2rc_k

3/4 http://www.youtube.com/watch?v=1D8bXCR6Epk

4/4 http://www.youtube.com/watch?v=BDKT-SLtq4c


The Shining - The Gold Room

I am very much impressed with Rob Ager’s film analysis of the hidden gold story in Kubrick’s: The Shining.

The evidence is overwhelming and very strong. I even got inspired by Rob Ager in finding, what might be yet, an other clue:

“On the walls of one of the vaults, posters from the 1940s are still visible, from when the vast room was used as a canteen.

The walls must be literally bombproof as they were used by bank staff as air raid shelters during World War II.

The old-fashioned posters that hang around the room depict sunny climes, luxury cruises and happier times – which may be as welcome a sight as the valuables for many.”




QUOTE FROM: We’ve still got a few quid then! Bank of England’s glittering stash of £156BILLION in gold bars stored in former canteen under London
3 February 2012, by Emma Reynolds (Daily Mail)
http://www.dailymail.co.uk/news/article-2095535/Bank-Englands-glittering-stash-156BN-gold-bars-stored-canteen-London.html

Don’t buy this Daily Mail story for a moment. As far as I am concerned this could even be falsified Tungsten gold.

Nobody has audited it besides the London banking criminals themselves. You can’t just simply take their word for it.

And who owns that gold anyways? Could be all non-British stacked gold from countries all over the world.

Only trust it as central banks around the world have retrieved and remelted their gold to be sure there’s no tungsten involved.

proof Silver Denarius debased by Nero http://www.youtube.com/watch?v=bzsEP5SrF9w

[Kilika]

Yeah, that picture of gold means nothing. Sounds like the Brits have been stalling an audit of their gold reserves too. Go figure!

[Letsbereal]

Greyerz - Customer Shocked “Allocated” Gold Not in Swiss Bank
21 May 2012, by Eric King (King World News)
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/21_Greyerz_-_Customer_Shocked_Allocated_Gold_Not_in_Swiss_Bank.html

Excerpt:

Von Greyerz also told KWN that a major Swiss bank did not have a substantial amount of allocated gold which they claimed to possess for their client:

“We are stressing to investors to take their gold out of the banking system, not only because there are runs on banks that will continue, but the risk of being in the banking system is major. So you should take the additional step of not just owning physical gold, but also owning it outside of the banking system.

We (just) had an example of a client moving a substantial amount (of gold) from a Swiss bank to our vaults, and we found out the bank didn’t have the gold. This was supposed to be allocated gold, but the bank didn’t have it. We didn’t understand why there was a delay (in our vaults receiving the gold), but eventually we found out why there was a delay (the bank didn’t have the gold). It’s absolutely amazing, but not surprising.

This confirms what I’ve always thought. Not only should you not have gold in banks or even unallocated gold, but even allocated gold. It seems that some banks don’t even possess that. So the risk of having gold in the banking system is major.”

This is an extremely important interview because it reveals that allocated gold, which is supposedly held by key banks, is simply not in the vault.  


Egon von Greyerz on KWN May 22, 2012 - Audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/5/22_Egon_von_Greyerz.html

[Letsbereal]

Defenitely must check out Sean Boyd because this guy ‘breaths’ gold:

Sean Boyd on KWN May 24, 2012 – Audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/5/24_Sean_Boyd.html


GOLDMEMBER: I Love Gold!

[Letsbereal]

_ - ANCIENT GOLD - _

Israeli archaeologists find rare ancient jewelry
25 May 2012, by Daniela Berretta - Tel Aviv, Israel (AP - Washington Post)
http://www.washingtonpost.com/world/middle_east/israeli-archaeologists-find-rare-ancient-jewelry-at-megiddo-site-of-the-biblical-armageddon/2012/05/25/gJQA6UrepU_story.html



Israeli archaeologists have discovered a rare trove of 3,000-year-old jewelry, including a ring and earrings, hidden in a ceramic jug near the ancient city of Megiddo, where the New Testament predicts the final battle of Armageddon.

Archaeologists who unearthed the jug during excavations at the site in 2010 left it in a laboratory while they waited for a molecular analysis of what was inside. When they were finally able to clean it, pieces of gold jewelry - a ring, earrings, and beads - dating to around 1100 B.C. poured out.

Israel Finkelstein of Tel Aviv University, who co-directed the dig, said that the find offers a rare glimpse into ancient Canaanite high society. He said the fact that the jewelry was found inside the jug suggested that the owner hid them there.

Finkelstein said the jewelry likely belonged to a Canaanite family.

"We can guess that it was a rich family, probably belonging to the ruling elite," he said.

Tel Aviv University called the trove "among the most valuable ever found from the Biblical period," adding that one piece in particular, a gold earring decorated with molded ibexes, or wild goats, is "without parallel."

It said in a statement this week that the objects were either owned by Egyptians living in the area or inspired by the Egyptian style of the period.

Aren Maeir, an archaeologist at Bar Ilan University, said that because the raw materials used come are not from the area, the find "tells us about international relations ... and about technical traditions used at the time."

Megiddo was an important trade center in ancient times. According to the New Testament, Megiddo will be the site of the final apocalyptic battle between good and evil.

[Letsbereal]

CME Group cuts margins for gold futures
25 May 2012, by Chris Oliver - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/cme-group-cuts-margins-for-gold-futures-2012-05-25

Commodity trading exchange CME Group said Thursday it had lowered its margin requirements for gold contracts by 10%, marking the second reduction this year, saying the move was part of its normal review of trading conditions and market volatility.

In an announcement after the close of the regular session Thursday, CME said the initial margin for the 100-ounce gold contract from one to four months will drop to $9,113 from $10,125.

The new rates will be in effect from the close of market trading May 29.

[Letsbereal]

Bank Of Russia To Buy “Considerable Figure" Of Gold Tonnage In 2012
25 May 2012, by GoldCore (Zero Hedge)
http://www.zerohedge.com/news/bank-russia-buy-%E2%80%9Cconsiderable-figure-gold-tonnage-2012

Excerpt:

Today, the deputy chairman of Russia's central bank, Sergey Shvetsov, said that the Bank of Russia plans to keep buying gold on the domestic market in order to diversify their foreign exchange reserves. 

"Last year we bought about 100 tonnes. This year it will be less but still a considerable figure," Shvetsov told Reuters on the sidelines of a financial conference in Milan.

Russia's gold and foreign exchange reserves fell to $514.3 billion in the week ending May 18, from $518.8 billion a week earlier.

However, they have risen from the $498.6 billion seen at the end of 2011.

Yesterday, Shvetsov said that Greece has plans for a parallel currency and that it is a “necessity” for Greece to leave the euro.

US exchanges are closed on Monday for Memorial Day.

[Femacamper]

JP Morgan just lost $25 billion is shares, expect gold to go up in a month or two.

[TahoeBlue]

Was anyone aware that the IMF has a tons of gold and started selling it for profit a couple of years ago?

Any comments?

http://www.imf.org/external/np/exr/facts/gold.htm
Factsheet
Gold in the IMF
March 30, 2012
...

Consistent with the new income model for the Fund agreed in April 2008, on September 18, 2009, the IMF Executive Board approved gold sales strictly limited to 403.3 metric tons, representing one eighth of the Fund's total holdings of gold at that time. Resources linked to these gold sales will also help boost the Fund's concessional lending capacity. The approved sales program was completed in late December 2010.


How the IMF acquired its gold holdings

The IMF held 90.5 million ounces (2,814.1 metric tons) of gold at designated depositories at end February 2012.

The IMF’s total gold holdings are valued on its balance sheet at SDR 3.2 billion (about $4.9 billion) on the basis of historical cost.

As of February 29, 2012, the IMF's holdings amounted to $160.1 billion at current market prices.

The IMF acquired its current gold holdings prior to the Second Amendment through four main types of transactions.

•First, when the IMF was founded in 1944 it was decided that 25 percent of initial quota subscriptions and subsequent quota increases were to be paid in gold. This represents the largest source of the IMF's gold.

•Second, all payments of charges (interest on member countries' use of IMF credit) were normally made in gold.

•Third, a member wishing to acquire the currency of another member could do so by selling gold to the IMF. The major use of this provision was sales of gold to the IMF by South Africa in 1970–71.

•And finally, member countries could use gold to repay the IMF for credit previously extended.
...


http://www.imf.org/external/pubs/ft/ar/2011/eng/pdf/ch5.pdf
...

Net income

The IMF’s net operational income in FY2011, before taking account of profits from the gold sales it conducted, was SDR 780 million,
reflecting primarily income from high levels of lending activity.

The returns net of fees on the IMF’s investments were 0.89 percent, outperforming the benchmark one- to three-year index by 54 basis points. Profits from the gold sales in FY2011 were SDR 3.1 billion and were transferred to the Fund’s Investment Account for investment, as previously discussed.

Gold sales

As noted earlier in the chapter, the new income model for the IMF approved in 2008 includes the establishment of an endowment in the Investment Account funded from the profits of the sale of a limited portion of the IMF’s gold holdings, with the objective of investing these resources and generating returns to contribute support to the IMF’s budget while preserving the endowment’s long-term real value. The Executive Board agreed in July 2009 that in addition to funding the endowment, part of the gold sale proceeds would also be used to increase the IMF’s resources for concessional lending to low-income countries.

In September 2009, the Board formally approved the sale of 403.3 metric tons of the IMF’s gold, representing one-eighth of the institution’s total holdings.

The gold sales were initiated in October 2009. Under modalities adopted to safeguard against disruption of the gold market, the
Fund first offered gold for off-market sale (at market prices prevailing at the time of the sale) to official sector holders such as central banks. Three central banks purchased a total of 212 metric tons of the available gold within a few months of the offering, leaving a balance of 191.3 metric tons still available for purchase.

In February 2010, the IMF announced plans to pursue a second phase of gold sales on the market, making it clear that off-market sales could also continue, and that further sales to official holders would reduce, by a corresponding amount, the quantities of gold available for on-market sale.

As the on-market sales were taking place, in September 2010, the IMF announced a sale of 10 metric tons of gold, at prevailing market prices, to the Bangladesh Bank.73 The following December, the IMF announced the conclusion of the limited gold sales program.74

The IMF’s gold sales generated total proceeds of SDR 9.54 billion.
Of this amount, SDR 2.69 billion represented the gold’s book value and SDR 6.85 billion represented profits.

As noted, all sales (whether off market or on market) were based on market prices, which were higher than assumed at the time the new income model was endorsed.
Funding the endowment with gold profits at the level originally assumed at the time the new income model was endorsed in 2008,
and increasing resources for concessional lending to the levels agreed upon in July 2009, would have required an average sales price of US$935 per ounce.

The actual average sales price was US$1,144 per ounce, resulting in additional “windfall” profits from the gold sales.

[ So they benefited by pumping the price of gold!!!! ]  

[Letsbereal]

Was anyone aware that the IMF has a tons of gold and started selling it for profit a couple of years ago?

Any comments?

IMF to buy Gold worth $2.3 billion as credit risk increases
14 May 2012, New York (Commodity Online)
http://www.commodityonline.com/news/imf-to-buy-gold-worth-$23-billion-as-credit-risk-increases-48052-3-48053.html

The International Monetary Fund (IMF) is planning to purchase more than $2 billion worth of gold on account of rising global risks.

The IMF currently holds around 2800 tonnes of gold at various depositories.

“The Fund is facing increased credit risk in light of a surge in program lending in the context of the global crisis.

While the Fund has a multi-layered framework for managing credit risks, including the strength of its lending policies and its preferred creditor status, there is a need to increase the Fund’s reserves in order to help mitigate the elevated credit risks”, Bloomberg quotes a report by an IMF staff while also adding that a $2.3 billion gold purchase is in the planning.

IMF's borrowers include Eurozone countries like Greece and Portugal. Greece is IMF's biggest borrower and the nation is currently caught in a political deadlock that seems bent on denying itself the much needed bailout fund.

Countries like Spain is also officially in recession after its first quarter GDP contracted.

Other nations in the Eurozone region is also showing increased signs of slow manufacturing activity and economic growth.

In such a risky financial environment, the IMF's move could be considered wise and can be seen as an indication of how much trust the mainstream financial community now has on precious metals like gold.

[TahoeBlue]

Yes, as I thought the IMF seems to be manipulating the price in collusion with the central banks for their benefit.

As of February 29, 2012, the IMF's holdings  [ in gold ] amounted to $160.1 billion at current market prices.

Quote May 14, 2012, IMF to buy Gold worth $2.3 billion as credit risk increases

Why else would they need to BUY 2 billions (SDR's/dollars?) worth of gold , while they've been selling it for two years now?   

[Letsbereal]

Yes, as I thought the IMF seems to be manipulating the price in collusion with the central banks for their benefit.
 

Why else would they need to BUY 2 billions (SDR's/dollars?) worth of gold , while they've been selling it for two years now?   

Central banksters around the world know that gold is the only money around and that the rest is merely credit. But to keep the sheople in their fake paper money system they made an agreement to bash gold in collusion to hide the fact that the paper currencies are in decline. That's why they have been selling for years.

Now they see they can't hold the dam so think 'if you can't beat them join them'. But there could be other reasons too. Maybe they buy now to keep gold down later in the endgame.

They can't stop gold from going higher, they only can delay it.

[Kilika]

Maybe some are buying to replace gold that was suppose to be there, but hasn't been. If somebody comes asking for their gold, and it isn't there? They got problems.

[Letsbereal]

Maybe some are buying to replace gold that was suppose to be there, but hasn't been. If somebody comes asking for their gold, and it isn't there? They got problems.

That's a very good idea because I just finished listening to Jim Willie http://forum.prisonplanet.com/index.php?topic=231171.msg1358861#msg1358861

And he said that they've been handing over 5,000 metric tons of gold to the Asians worth around $26 Billion from playing on the COMEX cause the Asians refuse to setlle in paper which they do with their insiders to keep the fraudelent COMEX going.

Where did they get all this gold? They've been raiding allocated gold accounts said Willie.

Also from an interview with Egon von Greyerz http://forum.prisonplanet.com/index.php?topic=159655.msg1358132#msg1358132 Quote:

"This is an extremely important interview because it reveals that allocated gold, which is supposedly held by key banks, is simply not in the vault."

So indeed maybe the IMF had to buy the gold to continue their ill gotten games.

[Letsbereal]

Norton Gold Fields says yes to Zijin Mining Group's $229m offer
1 June 2012, (Perth Now - China Mining)
http://www.chinamining.org/Investment/2012-06-01/1338518589d57107.html

NEARLY two months after China?s Zijin Mining Group made an all-cash offer, Perth-based target Norton Gold Fields has today accepted the $229 million offer.

Gold miner Norton today announced that its board has unanimously recommended shareholders accept the offer of 25c cash for each share.

In addition, Zijin ¨C which mines gold, copper, iron ore and other metals ¨C has allowed Norton to pay its shareholders a special dividend of 2c for each share, valuing the entire offer at $229 million.

Zijin already holds a 16.98% stake in Norton, which has a gold mining operation near Kalgoorlie.

Shares in Norton have been placed in a trading halt, and last traded at 21c.

The takeover comes amid a backdrop of global economic turbulence, which has seen commodity prices, including gold, drop and some companies struggle to raise targeted funds.

Zijin's offer is conditional on the spot gold price not falling below $A1400 an ounce for three consecutive days during the next six months.

The spot price of gold is currently at $US1556.10 per ounce, or $A1603.08 per ounce.

Zijin's offer also has a minimum acceptance condition of 50.1%, and it will need approval from the Foreign Investment Review Board and other regulatory approvals in order for the takeover to be successful.

The Chinese company has also agreed to provide a $38 million unsecured loan facility, which, together with existing cash reserve, will be used to pay an existing loan facility that will require upfront payment should control of Norton change.

[Letsbereal]

Newmont Mining a rare gainer in Friday’s action
1 June 2012, by Matt Andrejczak (MarketWatch - Blogs)
http://blogs.marketwatch.com/thetell/2012/06/01/newmont-mining-a-rare-gainer-in-fridays-action/

During Friday’s market blood bath, Newmont Mining  was a precious gem.

Its shares shined, gaining 7% to $50.66 by afternoon trades. The stock was the top gainer on the S&P 500.

What’s more, gold futures rallied, scoring their largest single-day gain since August.

This might have peaked investor interest in Newmont’s gold price-linked dividend policy.

The miner bases its dividend on the averaged realized gold price for the preceding quarter.

On June 28, it will pay a quarterly dividend of 35 cents a share to shareholders of record June 12.

That was calculated from Newmont’s first-quarter average realized price of $1,684 an ounce.

Gold prices have stumbled this year, slipping 6% in May. Gold is seen as a safe haven.

Read gold’s identity crisis http://www.marketwatch.com/story/golds-having-an-identity-crisis-2012-06-01

And Friday there was fresh concerns about the strength of the global economy and talk the Federal Reserve might unleash  another round of quantitative easing.

All this could help spark a rebound in gold prices.

Newmont Mining: One of the world’s largest gold producers with significant assets or operations on five continents. Includes business, operation and investor information.

[Letsbereal]

Must Hear! KWN Markets & Metals Wrap with Bill Haynes & Dan Norcini
Saturday, June 2, 2012 – Audio http://kingworldnews.com/kingworldnews/Broadcast/Entries/2012/6/2_KWN_Markets_%26_Metals_Wrap.html

[Letsbereal]

The Hoarding Continues: China Purchases A Record 100 Tons Of Gold In April From Hong Kong
4 June 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/hoarding-continues-china-purchases-record-100-tons-gold-april-hong-kong

A month ago we were delighted to counterpoint Charlie Munger's prior remarks about the level of "civilization" of a given consumer based on their sentiment vis-a-vis gold,

by demonstrating that Chinese purchases of gold from Hong Kong rose to a record.

To wit: "Imports from Hong Kong were 135,529 kilograms (135.53 metric tons) between January and March, from 19,729 kilograms in the year-earlier period,

according to data from the Census and Statistics Department of the Hong Kong government.

Shipments in March rose 59% from February, yesterday's data showed."

We have just gotten the April update, and, lo and behold, the country which is now the biggest buyer of gold, having surpassed India, just set a new record:

"Gold imports by mainland China from Hong Kong climbed 65% to a record in April, advancing for a third straight month as investors sought a hedge against financial-market turmoil and an economic slowdown.

Shipments totaled 103,644.5 kilograms (103.6 metric tons) in the month from 62,913 kilograms in March, according to export data from the Census and Statistics Department of the Hong Kong government today.

In the first four months, imports were 239,174 kilograms from 27,114 kilograms a year earlier, according to Bloomberg calculations.

China doesn’t publish such figures." In other words: in the first four months of 2012 Chinese purchases have increased by an unprecedented 782% over 2011.

And this is only from Hong Kong! Said otherwise: "Is the PBOC, which officially has just 1,054 tons of the yellow metal, quietly and relentlessly stockpiling gold?" Oh, yeah!!!.

Expect a formal announcement from the Chinese central bank in the months ahead, indicating the country's gold hoard has increased by at least 100%.

What happens then to the price of gold is rather self-explanatory.

More:
Increased imports by the second-largest consumer after India may help extend a rebound in the precious metal that’s been driven by speculation the U.S. Federal Reserve may add to stimulus this month to safeguard the recovery.

Spot gold rallied 4.1% on June 1 after U.S. jobs data missed expectations.

China’s central bank may also be boosting holdings, according to Wang Xinyou, a senior analyst at Agricultural Bank of China Ltd.

“The fundamentals are intact for a bull market in gold,” Liang Ruian, head of commodities at Pinpoint Investment Advisory Co.,

“With so much economic uncertainty out there, the money-printing practice won’t stop. Central-bank buying is another bullish factor that shouldn’t be discounted.”

Immediate-delivery gold, which traded at $1,617.80 an ounce at 8:50 p.m. in Beijing, is 3.6% higher this year as investors and central banks bought the metal as a store of value.

Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange-traded fund, rose 1.5% in 2012, and central banks from Turkey to Kazakhstan added gold to their reserves.

And the kicker:
"We can’t rule out the possibility that the central bank is buying gold,” said Wang at Agricultural Bank of China, referring to the People’s Bank of China.

The PBOC last made known its gold reserves more than two years ago, announcing that it held 33.89 million ounces, or 1,054 tons, as of June 30, 2009.

Rule out? You can bet on it. And when the press release is finally issued hold on to your gold hats folks ...

[Letsbereal]

From Negative 5Y5Y To $2200 Gold?
5 June 2012, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/negative-5y5y-2200-gold

For the first time on record (based on Bloomberg's data) 5-year / 5-year forward inflation expectations turned negative today.

This kind of deflationary impulse has occurred twice in recent years and each time has been accompanied by dramatic Federal Reserve easing.

The anticipation of the move by the Fed has caused Gold each time to surge higher on yet more expectations of the fiat-fiasco unwinding.

Given the 5Y5Y inflation print currently, we would expect action from the Fed and one could argue that this would cause the price of Gold to rise to $2200 per ounce as the deleveraging continues.

The red arrows show the deflationary impulse (5Y5Y inflation is inverted) and the orange curve arrow shows the reaction function post Fed reaction to the blue arrow levels of the deflationary impulse.

[Letsbereal]

Max Keiser: Soros gets gold advice from Keiser Report http://www.youtube.com/watch?v=sDtMOoYCfss

The Eurozone debt crisis is getting dangerously close to the monetary union's powerhouse - Germany. Moody's has cut the ratings of several German banks, including the country's second biggest lender.

Austria is also affected. Max Keiser, RT's financial guru and host of The Keiser Report smells a rat in all this. He says, the crisis is the chance for some to make a fast buck.

[Letsbereal]

Gold Bugs Defy Bear-Market Threat With Soros Buying
6 June 2012, by Nicholas Larkin and Debarati Roy (Bloomberg)
http://www.bloomberg.com/news/2012-06-05/gold-bugs-defy-bear-market-threat-with-soros-buying-commodities.html

Excerpt:

Gold is stuck in the longest slump in a decade as investors shun bullion for the dollar and bonds, just seven months after Bank of America Corp. said Europe’s debt crisis would send prices to a record $2,000 an ounce.

The bank was joined by Goldman Sachs Group Inc., Morgan Stanley and Barclays Plc in urging investors to buy in December and January.

Now, after gold fell 10% in a four-month slide through May, they say prices will rebound this year or next as the Federal Reserve shores up the world’s biggest economy by easing monetary policy and devaluing the dollar.

Billionaire George Soros bought more in the first quarter and hedge-fund manager John Paulson held on to the biggest stake in the SPDR Gold Trust, the largest exchange-traded product backed by bullion, Securities and Exchange Commission filings show.

Some investors are refusing to capitulate even after failed elections in Greece drove the euro to a two-year low against the dollar and gold slumped as much as 21% in December from the record $1,923.70 set in September.

“The $2,000 target has moved further away, but it still holds,” said John Stephenson, who helps manage $2.7 billion at First Asset Investment Management Inc. in Toronto and predicted in November that prices would reach $2,500 in the next several months.

“We will see some easing, and that will push gold higher, but the reality is that we are on hold until the outcome of the Greece elections.”

[TahoeBlue]

http://4rexpro.com/viking-trade-gold-online-forex-market/

Image by arnybo
MOTIV: Gull – betalingsgull PERIODE: Vikingtid FUNNSTAD: KOMMUNE: Vestlandet
Gold for trading/payment, from the Viking age, found in Western Norway. Exhibited in Bergen museum.

http://www.masterfile.com/stock-photography/image/610-00257392/Norway-Oslo-Historical-Museum-viking-gold-jewels
Norway, Oslo, Historical Museum, viking gold jewels



http://12121.hostinguk.com/gold_fever_bulgaria.htm
Gold Fever in Bulgaria

[Letsbereal]

Greece: 2 caught with ancient gold wreath, armband
8 June 2012, by Costas Kantouris - Thessaloniki, Greece (Associated Press)
http://www.chron.com/news/article/Greece-2-caught-with-ancient-gold-wreath-armband-3619353.php



A police woman displays the wreath of gold oak leaves and acorns, date from roughly the 4th Century B.C. in Thessaloniki on Friday June 8, 2012. A 60-year-old retired policeman and a 41-year-old painter _
were arrested late the previous night east of the city after the artifacts were found during a routine traffic check. Photo: Nikolas Giakoumidis / AP

A retired policeman and a house painter have been arrested in northern Greece on suspicion of antiquities smuggling after an ancient gold wreath and armband were found in their car, police said Friday.

The suspects were stopped by highway police near the village of Asprovalta, some 40 kilometers (25 miles) east of Thessaloniki late Thursday.

Officers, who were working on a tip that the house painter might be trafficking in antiquities, found the 4th century B.C. artifacts in a shoebox under the passenger seat.

The wreath was a rare and valuable find, said Nikos Dimitriadis, head of the Thessaloniki police antiquities theft section.

"It is a product of an illegal excavation from a Macedonian grave, according to archaeologists (who examined it)," he said.

[Letsbereal]

China gold sector 'attractive': Macquarie
11 June 2012, by Chris Oliver - Hong Kong (MarketWatch)
http://www.marketwatch.com/story/china-gold-sector-attractive-macquarie-2012-06-11

Macquarie said China's gold sector appears attractive, with gold stocks listed in Hong Kong having underperformed their global mining peers as well as bullion prices since the start of the year.

The research brokerage said it had issued an "outperform" rating on Hong Kong-listed gold producers Zijin mining Group and Zhaojin Mining Co. noting that they both had low operating costs,

were trading at earnings multiples below the global average, and were well positioned to benefit from industry consolidation.

The researchers also noted China ranks a the world's biggest consumer of gold, helped by a near tripling in annual gold consumption in the five years through 2011.

"Given jewellery consumption per capita in China is only 7%-8% that of the U.S., and strong investment demand, we remain positive on China gold demand, which indirectly supports strong gold prices," Macquarie said.

The brokerage also noted that potential gold buying by China's central bank was another positive factor for long term demand.

Zhaojin shares ended 4.6% higher on Monday, while Zijin's shares closed up 3%.

[Letsbereal]

Robert Ian: Gold is Money Everything Else is Credit http://www.youtube.com/watch?v=1hfjvNRlGww

“Gold is money. Everything else is credit.” : JP Morgan, testifying to Congress in 1912.

“Silver & Gold is the only money the elite rely on.” : Lindsey Williams from the elite.

[Letsbereal]

Gold Traders Bullish as Hedge Funds Increase Wagers
15 June 2012, by Maria Kolesnikova (Bloomberg)
http://www.bloomberg.com/news/2012-06-14/gold-traders-bullish-as-hedge-funds-increase-wagers.html

Excerpt:

Gold traders are bullish for a fourth consecutive week after hedge funds added to bets that prices will rally, exchange-traded products backed by the metal expanded and Europe’s debt crisis roiled markets.

Twenty-four analysts surveyed by Bloomberg said they expect gold to gain next week and six were bearish. A further three were neutral.

Speculators boosted net-long positions by 27% in the week ended June 5, the latest Commodity Futures Trading Commission data show.

ETP holdings rose 21.07 metric tons valued at $1.03 billion since the start of June, halting a three-month retreat, according to data compiled by Bloomberg.

Greek voters return to the polls June 17 after last month’s elections failed to produce a government, increasing concern the 17-nation euro would fracture.

Almost $5.7 trillion was wiped off the value of global equities since the end of March on signs of slowing growth, spurring speculation that policymakers will do more to shore up economies.

Gold rose about 70% as the Federal Reserve bought $2.3 trillion of debt in two rounds of quantitative easing, or QE, ending in June 2011.

“Whatever the outcome in Europe, it will likely be supportive for gold,” said Neil Gregson, who manages about $6.9 billion of natural-resources equities at JPMorgan Asset Management in London.

“We’ve still got the possibility of QE3 in the U.S., which would be good for gold.”

[Letsbereal]

Hedge funds short stocks, bid up gold
25 June 2012, by Regina Hing (MarketWatch - Blogs)
http://blogs.marketwatch.com/thetell/2012/06/25/hedge-funds-short-stocks-bid-up-gold/

Hedge funds, which were underperforming the S&P 500 for the month as of June 20, have been cutting their exposure to the stock market while  bidding up gold, according to a Bank of America/Merrill Lynch analysis.

The investment bank’s investable hedge-fund composite index slipped 0.2% for the month as of June 20, compared to a 3.5% increase for the S&P 500, said Mary Ann Bartels, head of the firm’s U.S. technical analysis.

Market neutral funds aggressively cut market exposure to 1% from 12% net long during the period.

Equity long/short sold market exposure further to 26% from 30% net long.

Macro funds partially added to their shorts in the S&P 500 , NASDAQ 100, emerging markets, EAFE, commodities and 10-year Treasurys futures, while continuing to buy USD.

In the metals market, large speculators bought gold, platinum and palladium, and were flat silver and copper.

In the energy space, speculators sold crude oil, while buying heating oil and gasoline. 

Speculators also added to their shorts in natural gas, the analysis said.

[Letsbereal]

Turkey, Russia, Ukraine And Kazakhstan Further Diversify Into Gold
26 June 2012, by GoldCore (Zero Hedge)
http://www.zerohedge.com/news/turkey-russia-ukraine-and-kazakhstan-further-diversify-gold