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The Gold Bull is DEAD. Long Live The Gold Bull.; It ain't over yet flyboy.
Topic Started: 18 Jul 2013, 12:53 AM (16,407 Views)
Shadow
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Evil Mouzealot Specufestor

Pig Iron
12 Sep 2013, 11:32 AM
you know the gold bugs are freaking out when they retreat to the fortress of "gold can't be valued like money".

let me guess, you saw the stronger AU? so now gold is falling AND the AUD going up. sucks to be you.
It's dropping like a brick...

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Edited by Shadow, 12 Sep 2013, 11:46 AM.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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JM Goods
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Release today by Citi.....

Quote:
 
With the Syria premium effectively removed from the Gold market in early September as the Russian brokered deal to dismantle Syrian chemical weapons capability diminished the possibility of a military intervention, the market again focused on the issue of US tapering.

The Federal Reserve surprisingly kicked the tapering decision further down the road, with the next window of opportunity for announcing cuts in asset purchasing program now not likely until December at the earliest. Gold promptly rallied by 4.6% to $1,364/oz, the biggest upside move since March 2009.

Does this mean the end of the downtrend in Gold? In our view, the clear answer is no. The rally ran into significant volumes of producers selling before the end of the day, suggesting gold producers themselves have little in the way of positive price expectations, while US data continues to surprise.

In particular, US starts in August beat expectations, while consumer confidence continues to recover, along with auto sales. The tapering debate is back to a case of ‘When’, not ‘If’ in our view.

Physical ETFs have represented the most visible signal of negative investor sentiment towards the gold market, with the outflows becoming somewhat self-reinforcing, in that the outflows remove confidence in investing in an ETF in the first place, and in turn prompt further outflows. In the year-to-date, outflows reached 694 tonnes on by September 17th. However, the rate of outflow had slowed appreciably in August on Syria concerns and the timing of tapering debate. Given the FOMC decision to delay the introduction of tapering, we expect a reversal of the downtrend over the next month. However, any such reversal would in our view, be only temporary in nature, with a downtrend returning when the timing of tapering is clearer.

Where investors have fled, price sensitive retail buys have stepped up purchasing, most notably in China, where year-to July net imports from Hong Kong were up a remarkable 96% over the same period in 2012 at 688 tonnes. However, there are indications that the rate of purchasing is slowing as the premium of Shanghai gold prices over Comex has disappeared as metal from ETF outflows has flowed into China. While the upside price moves in gold on September 18th will no doubt spurETF uptake, the reverse is like to be true for retail buying. Indeed, we believe the Chinese market is now very well stocked with gold, suggesting import data from Hong Kong will slide over the remainder of the year.
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Admin
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Gold befuddles Bernanke as banks still buy

October 8, 2013 - 11:13AM

Ben Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices.

If his peers had paid attention, they might have stopped expanding reserves that lost $US545 billion ($577 billion) in value since bullion peaked in 2011.

Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that “nobody really understands gold prices and I don’t pretend to really understand them either.”

Central banks, which own 18 per cent of all the gold ever mined, will add as much as 350 tonnes valued at about $US15 billion this year, the London-based World Gold Council estimates.

They purchased 535 tonnes in 2012, the most since 1964. Russia is the biggest buyer, expanding reserves by 20 per cent since prices reached a record $US1921.15 an ounce in September 2011. Gold has slumped 31 per cent since then.

As policy makers were buying, investors were losing faith in the metal as a store of value. The value of exchange-traded products dropped by $US60.4 billion, or 43 per cent, this year, saddling hedge fund manager John Paulson with losses, according to data compiled by Bloomberg.

Billionaire investor George Soros sold his holdings in the biggest gold-backed ETP this year and mining companies wrote down the values of their assets by at least $US26 billion.

Policy makers, who are responsible for shielding their economies from inflation, often mistime gold investment decisions, buying high and selling low. They were reducing holdings when bullion reached a 20-year low in 1999 and as prices as much as quadrupled in the next nine years. Central bankers became net buyers just before the peak in 2011.

“Central bankers have typically bought when you probably should be selling and selling when you probably should be buying,” said Michael Strauss, who helps oversee about $US25 billion of assets as chief investment strategist and chief economist at Commonfund Group in Wilton, Connecticut. “It’s going to be a difficult market and sometimes the price of gold is driven by emotions rather than fundamental factors. Central banks have been bad traders of gold.”

Holdings were little changed from the start of 2008 through early 2009. Then, policy makers increased gold reserves as prices doubled and they have purchased a net 884 tonnes since the 2011 peak, International Monetary Fund data show. Russia was the biggest buyer, adding about 171 tonnes. Kazakhstan bought 67.2 tonnes and South Korea purchased 65 tonnes. Turkey’s reserves swelled about 371 tonnes in the past two years as it accepted bullion in reserve requirements from commercial banks.

Read more: http://www.smh.com.au/business/markets/gold-befuddles-bernanke-as-banks-still-buy-20131008-2v588.html/quote]
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goldbug
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Ben Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices.


Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that “nobody really understands gold prices and I don’t pretend to really understand them either.”



Ha Ha Ha. greenspan said you couldn't tell a bubble until it burst but he got out of the hot seat just before the biggest property bubble in history burst. Of course this stooge Bernanke understands gold prices, he and his banker mates have been manipulating them for long enough.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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MMM
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goldbug
8 Oct 2013, 05:37 PM
Ben Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices.


Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that “nobody really understands gold prices and I don’t pretend to really understand them either.”



Ha Ha Ha. greenspan said you couldn't tell a bubble until it burst but he got out of the hot seat just before the biggest property bubble in history burst. Of course this stooge Bernanke understands gold prices, he and his banker mates have been manipulating them for long enough.
Bernanke is a liar.

http://www.democraticunderground.com/10023372309

http://www.youtube.com/watch?v=zp6v3v9KDuI

http://www.youtube.com/watch?v=2Dj9v9s9buk

bernanke says fed audit would cause economic collapse

http://www.youtube.com/watch?v=KFDULprB8Oc

enough fed talk about gold, but fed says they have none

http://www.youtube.com/watch?v=Pl305N56CGY

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peter fraser
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goldbug
8 Oct 2013, 05:37 PM
Ben Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices.


Bernanke, who holds economics degrees from Harvard College and the Massachusetts Institute of Technology and led the Federal Reserve through the biggest financial disaster since the Great Depression, told the Senate Banking Committee in July that “nobody really understands gold prices and I don’t pretend to really understand them either.”



Ha Ha Ha. greenspan said you couldn't tell a bubble until it burst but he got out of the hot seat just before the biggest property bubble in history burst. Of course this stooge Bernanke understands gold prices, he and his banker mates have been manipulating them for long enough.
Considering the political wrangling in the USA with the debt ceiling coming up, Gold is performing very poorly.

Doesn't that concern you?

Any expressed market opinion is my own and is not to be taken as financial advice
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Blondie girl
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Yeah
Well, I'm also quite skeptical about that Bermanke pleading ignorance about the shitty gold issue.

Gold nutters how do you really maintain any dignity, ?. MMM & gold buggered can you honestly say that you're not having nightmares about that gold??

Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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MMM
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Blondie girl
8 Oct 2013, 11:17 PM
Yeah
Well, I'm also quite skeptical about that Bermanke pleading ignorance about the shitty gold issue.

Gold nutters how do you really maintain any dignity, ?. MMM & gold buggered can you honestly say that you're not having nightmares about that gold??

Not at all, you don't understand it Blondie or how things work. The only gold I hold these days is a few rare coins. I bought a couple of kilos in early July 2012 at either 1465 or 1485 , it then rose to around 1800, I sold as it then started to retreat. I have also had a good deal of silver went it has dropped to $20, the gold only increased by around 20% where as the silver would increase by 30-40%, but like I have told you the money is in gold stocks. So I actually love gold dropping , the more the better, like early.this year gold goes down and gold stock get hammered. I have given you all the yearly low before for both some gold stocks and silver like I did in June 26th . Look at what gold.stocks where selling at then. Newcrest 9 dollars rose to 14, sbm 36 cents then to 92 cents, another favorite sar dropped to just under 10 cents, two months later , over 30 cents that turns your 100k into 300k in two short months. Even now its still above 20 cents so still 100% up since June, up over 10% today alone. And it sells in numbers , over 3,500,000 today. Newcrest sold over 4,500,000, that's over 45 million dollars worth in one day alone.
So I wished it dropped to 1000 or even 500 but unfortunately that won't be happening .
Learn to play it to your advantage Blondie. See you enjoyed my videos, see that lying squirming bernanke.
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goldbug
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peter fraser
8 Oct 2013, 09:21 PM
Considering the political wrangling in the USA with the debt ceiling coming up, Gold is performing very poorly.

Doesn't that concern you?


Gold has always been the main threat to paper money printing and suppressing its price in the open market is just part of their job I have learnt. Look at the gold action leading up to the Global great recession, the same thing happened. I guess if I had bought gold prior to that I may have been a weak hand and been tempted to sell it. But I have seen what happens to gold when paper fails and I can't un-see that now. Houses it seems can fall below cost of construction, but gold has yet to do so.
MMM
8 Oct 2013, 09:02 PM

enough fed talk about gold, but fed says they have none

http://www.youtube.com/watch?v=Pl305N56CGY

Thanks for the list, I'm out on retreat at the moment but will have a good laugh when I get back to civilization and a broadband connection.
Edited by goldbug, 9 Oct 2013, 07:58 AM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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peter fraser
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goldbug
9 Oct 2013, 07:53 AM

Gold has always been the main threat to paper money printing and suppressing its price in the open market is just part of their job I have learnt. Look at the gold action leading up to the Global great recession, the same thing happened. I guess if I had bought gold prior to that I may have been a weak hand and been tempted to sell it. But I have seen what happens to gold when paper fails and I can't un-see that now. Houses it seems can fall below cost of construction, but gold has yet to do so.
1. You have not seen what happens when paper money fails, you only think that you have.

2. Gold is no threat to fiat money in the long term, in fact electronic money is probably a better term. We are almost a cashless society.

3. If you don't understand that any asset can fall temporarily below replacement value, including gold, then you shouldn't be in any market.

Best of luck with your scrap metal collection.
Any expressed market opinion is my own and is not to be taken as financial advice
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