Mineweb.com - Long liquidation, Eurozone jitters push gold down.

Mineweb.com - The world's premier mining and mining investment website Long liquidation, Eurozone jitters push gold down - GOLD NEWS | Mineweb

The price of gold slipped in London on Thursday fixing at its lowest point since July 8th on the back of continued concerns about the Eurozone crisis and long liquidation

Author:  Adrian Ash
Posted:  Thursday , 29 Dec 2011 

LONDON (BULLIONVAULT) - 

The WHOLESALE MARKET gold price fell further on Thursday in London, hitting its lowest London Gold Fix since 8th July at $1537.50 per ounce - 19% below Sept's record high - on what dealers called "long liquidation" and "pressure" from the Eurozone debt crisis.

New laws in Japan were also blamed for forced sales during Asian trade, with bullion dealers obliged to report all physical transactions above ¥2 million ($25,600) to the tax authorities starting New Year's Day.

Physical gold bullion flows in Europe are "very light - unsurprisingly for this time of year," says Swiss refinery and finance group MKS.

"[A] few accounts [were seen] bailing out on the break of $1570" on Wednesday, MKS says, with "the rest of the move driven by illiquidity and forced sellers pushing themselves out as they push [the gold price] lower."

On a closing-price basis, "Support sits at the trendline off the October 2008 low, currently at $1543," says Russell Browne's technical analysis for Scotia Mocatta, pointing to the uptrend in the gold price starting with the collapse of Lehman Brothers 3 years ago.

That support level is "followed by the September [2011] low around $1533," reckons Browne.

The Euro sank 1.5¢ on Wednesday after new data showed the European Central Bank's balance-sheet swelling to €2.7 trillion last week on making the first of its "unlimited" three-year loan offers to commercial banks.....

http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=142331&sn=Detail&pid=102055

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

December 29, 2011 Midday Metals Report

by IraEpsteinFutures on Dec 29, 2011

Commodities, Ira Epstein, Linn Group, Futures Trading, Online Trading, Technical Analysis, Metals Report, Sales:             866-973-2077      

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Business Line : Markets News : Gold should form 10-15% of asset allocation: IDBI Mutual

Business Line : Markets News : Gold should form 10-15% of asset allocation: IDBI Mutual

Gold should form 10-15% of asset allocation: IDBI Mutual

 No secular reason why gold prices should decline

MUMBAI, DEC. 26: 

Gold should form an important part of asset allocation of every investor as it is a meaningful asset option especially in times of uncertainty, a top official of IDBI Asset Management Ltd said.

“Everyone should have a sizeable amount, at least 10-15 per cent holding in gold as a prudent asset diversification strategy,” Mr Debasish Mallick, Managing Director and Chief Executive Officer, told Business Line.

In long-term financial planning, it is prudent to hold various assets and gold should be one of these, he said.

The fund house is the latest entrant to India's growing gold exchange traded fund market.

SAGE HAVEN OPTION

It mobilised Rs 110 crore in the gold ETF new fund offer that it launched during Diwali and has had the highest collection till date, Mr Mallick said.

Gold ETFs in India has seen substantial growth every year as the yellow metal has proved itself as a safe haven investment option.

“Gold ETF is the best buy option instead of physical gold. There is no wealth tax, you can sell anytime,” Mr Prithviraj Kothari, President, Bombay Bullion Association, said. According to him, it is a safe method of holding gold.

While Mr Mallick declined from making any gold price projection, he said, the global macro-economic situation remains uncertain. The yellow metal is seen as a safe haven asset and a hedge against inflation...

http://www.thehindubusinessline.com/markets/article2749957.ece?homepage=true&ref=wl_home

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Gold prices may be down, but analysts predict rise in 2012 | Alaska Dispatch

Gold prices may be down, but analysts predict rise in 2012 | Alaska Dispatch

Gold prices may be down, but analysts predict rise in 2012

Michail Vafeiadis | The Christian Science Monitor | Dec 25, 2011

What is it with gold?

Spot gold prices soared to a record above $1,900 an ounce in early September, dipped below $1,600 late in the month, rebounded strongly, and then fell below $1,600 again last week. That's a 16 percent decline in three months, although the shiny metal is still up for the year.

Will the decline continue into 2012?

It could. Concerns about the euro debt crisis have sent investors scrambling to buy dollars as a haven from risk, rather than gold, which has caused the dollar price of gold to fall. When gold prices fell below their 200-day average last week, a technical sell signal, prices broke below $1,600 although they have recovered a little since then.

"What is surprising is that in an environment where headline risk news is bigger than ever, gold has actually fallen from its highs," Christoph Eibl, CEO and founding partner of the Swiss commodity hedge fund Tiberius, told Reuters.

With the euro debt crisis virtually certain to extend into the new year and the US economy still weak, keeping inflation tame, many analysts see gold prices could fall further. Yet, they do not anticipate any precipitous fall since gold serves as a kind of ballast to market volatility and as a store of value.

Looking further into 2012, many analysts are bullish on the precious metal.

For technical buyers, the signal could come early, if gold can break above its 200-day average of about $1620 an ounce......

http://www.alaskadispatch.com/article/gold-prices-may-be-down-analysts-predict-rise-2012

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Gold prices to see consolidation in first-half of 2012 - Business Today

Gold prices to see consolidation in first-half of 2012 - Business Today

Gold prices to see consolidation in first-half of 2012

B.S. Srinivasalu Reddy     Mumbai   December 27, 2011    

The year 2012 may give an opportunity to investors and households to increase their investments in gold at a relatively low level of Rs 25,000-25,500 for 10 gm. Those who have missed the bus earlier could wait for this opportunity before June.
"We suggest investors to buy gold, even in bulk, at Rs 25,000-25,500 per 10 gm during 2012, when the price of the precious metal consolidates in the first half. At this level, it would not have much of a downside risk, but would have high probability of going up," said Naveen Mathur, associate director-commodities and currencies of Angel Broking

In the first-half of 2012, gold prices are expected to witness consolidation as a sharp upside will be restricted on account of the ongoing economic uncertainty.

"However, by the second half of the year prices could witness a bounce back as by then the global economy will receive clarity over the lingering European debt crisis and an improving US economy, thus helping investors allocate investments with 'caution' taking a back seat," Mathur added.

Gold has marked its eleventh annual consecutive rise this year, despite falling sharply from its all-time high of $1,920/oz. It has gained 12 per cent in the dollar-denominated international markets, which dictate gold prices across the world, including India, from the opening level of $1,420.8 per troy ounce (31.1034 gm). It was trading at $1,606 per troy ounce when the market broke for year-end holidays last week......
http://businesstoday.intoday.in/story/gold-prices-movement-in-2012/1/21228.html

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

March 23, 2011 Midday Metals Report

by IraEpsteinFutures on Mar 23, 2011

Commodities, Ira Epstein, Linn Group, Futures Trading, Online Trading, Technical Analysis, Metals Report, Sales:             866-973-2077      

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Mineweb.com - Gold and silver the currency of the elite in the Great Financial Crisis - Thunder Road - POLITICAL ECONOMY

Mineweb.com - The world's premier mining and mining investment website Gold and silver the currency of the elite in the Great Financial Crisis - Thunder Road - POLITICAL ECONOMY | Mineweb

Paul Mylchreest's Thunder Road Report always makes for fascinating reading and his take on the global economy, gold and silver is frightening and disturbing. Read, learn and inwardly digest.

Author: Lawrence Williams
Posted:  Thursday , 22 Dec 2011 

LONDON - 

I have a particularly soft spot for Paul Mylchreest's occasionally published Thunder Road report.  The basis for the best read article ever onMineweb, which on its own picked up almost 100,000 page views, came from an edition in 2009 - (see: China pushes silver and gold investment to the masses) .  The information and insights in these reports is invariably controversial, illuminating and extremely prescient.  I urge you therefore to beg, borrow or steal a copy of Paul's latest 52-page document which primarily looks into the politics and history behind the current financial crisis - indeed you don't have to do that - just download the report from Mineweb here -Thunder Road Report December 2011. As a window into Paul's view of what is happening to global politics and the economy, it makes for fascinating and disturbing reading from which you can then draw your own conclusions.  We may not agree with everything in it, but it is certainly food for thought on the way the world order is changing. .........

http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=142151&sn=Detail&pid=102055

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Word of the Day: Futures Exchange

by RTAmerica on Dec 23, 2011

Watch more @ http://www.youtube.com/CapitalAccount
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A futures exchange is a central financial exchange where people can trade futures contracts and other derivatives, which are financial instruments whose values are derived from the price movement of the underlying asset (stocks, commodities, etc.). Futures exchanges have been around for millennia, with one of the earliest known futures markets having developed in pre-socratic Greece as far back as 600 B.C -- or thereabouts -- by Thales of Miletus, who developed the brilliant idea of securing the future use of olive presses in Miletus prior to the olive harvest for a fixed price, with the expectation that a bountiful harvest would boost demand for these presses, allowing him to sell back his options contracts to other Greeks at a higher price. Legend has it that he eventually bought all the presses with the proceeds from his financial wizardry, just to show his fellow Milesians how smart he was. In more recent times, we saw the rise of futures markets here in the United States, specifically in Chicago, where proximity to farmland
and agribusiness made it a logical choice. Although markets for hedging against fluctuations in price caused by unforeseeable gluts or shortages in crop yields already existed, these markets where highly illiquid, nontransparent, and contracts were often not honored by counterparts (hmmm sounds kinda familiar). Therefore, one of the reasons for running such transactions through a regulated exchange is to clear the trades and provide a central counterparty that will extend a guarantee that the trade will be settled as originally intended. Eventually, the Chicago Board of Trade was created in 1848 to help buyers and sellers of these derivatives hedge their positions on a regulated exchange. It was later bought out by the CME, whose Chairman Terrence Duffy, our audience should know all too well...Of course, the recent experience of MF Global's customer's with segregated trading accounts has thrown the entire premise of having such regulated markets into question, since one of the major points of paying the premium to run transactions through an exchange is in order to mitigate, if not eliminate, counterparty risk.

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Gold $2000/oz in First-Half of 2012 says Andrew Su, | Gold and Silver Blog

Gold $2000/oz in First-Half of 2012 says Andrew Su, | Gold and Silver Blog




All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Injured Global Economy Ponders Coming Challenges | International Forecaster Weekly Bob Chapman The International Forcaster

Injured Global Economy Ponders Coming Challenges | International Forecaster Weekly Bob Chapman The International Forcaster | Economy News | Investing | US Market Information | Gold | Silver | Wall Street Bailouts | Investment Trends | Money Resources | US and Worldwide Politics

December 21 2011: No understanding of debt repayment, banks and Euro zone nations broke, Fed opens swap floodgates, nations on the edge of default await aid, recapitalization, European plunge into recession is underway, quantitative easing the cause of inflation, 40 million on food stamps in the US, Ron Paul the best choice still, Greece to tip Europe over the edge.


Debt repayment is a subject few want to discuss, or that few understand. We know most of the largest banks in the world are broke along with at least 6-euro zone nations. There are many others, but the most concerning are the debts of major nations, which are supposedly solvent. Needless to say the US is deeply indebted and the Super-Congress Enabling Committee couldn’t even lay politics aside to cut spending increases.
A bill has been entered into Congress to prohibit US funds being used via the IMF to bail out European banks and governments. We see a scant chance of passage because of the elitist control of both Houses. On the other hand it makes little difference, because the Fed has opened the swap floodgates and other avenues of secret funding to “recapitalize,” bailout, European banks of all sizes and depths of default.
As we end 2011 it is all quiet on the Western Front. Behind the scenes unbeknownst to almost all the elitists are plotting and planning on how to extricate themselves from the morass they have gotten themselves into. How do they put the crisis on the back burner and extend the timeline? The vaunted 6 nations on the edge of default await aid, but one might ask from whom? That solution hasn’t even been sorted out as yet, and we now find France facing a possible two level lowering of debt ratings, but even Germany is not as solvent as they were thought to be. Could it be that France and Germany might not be able to repay their debts? Now you can understand why the money machine, known as the Fed, says nothing about their bailout of Europe. 95% of the population of the world doesn’t even know what a swap is. Even if they did understand they are never going to get the truth from the Fed. We saw that in court and GAO revelations recently.
The European Central Bank, ECB, does not have the Fed’s ability to continue to create money and credit. That means that the taxpayers in each nation must foot the bill, unless the Fed prints money for them. Thus, we see a central bank, which really is not a central bank. Germany is still not allowing the ECB to emulate the Bank of England and Federal Reserve. Germans still vividly remember the Weimar Republic and the resultant rise of National Socialism and Adolph Hitler. Even if such possibilities do not exist today they still see rampant inflation as a result of endless funding. Northern Europeans, in spite of participating in the EU and the euro zone, understand the frailties and cultural differences of their neighbors in the south. Europe has pursed the wrong path for more than two years. There simply isn’t anyway to bail out the six. They have to allow them to default and leave the euro.
The short-term cost is $6 trillion just to go sideways for a year or two. After that the underlying problem will still exist, and it will be worse. Professionals in part recognize the problems and as a result interest rates have risen and the entire European system is under pressure, including their stock markets. We know that “The President’s Working Group on Financial Markets” has been active in markets worldwide, but because it is secret, we do no know the extent of market manipulation in keeping world markets up when they should be down. When Ron Paul becomes President of the United States and the reign of the bankers ends we will then be able to see what these criminals have been up too. A good part of the world is headed into recession and depression. Europe’s plunge into recession is underway and that condition is just going to exacerbate the situation. What we have is a European standoff and the possibility that Germany may go its own way, becomes more plausible with every passing day. .........


http://theinternationalforecaster.com/International_Forecaster_Weekly/Injured_Global_Economy_Ponders_Coming_Challenges


All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

These Charts Say It All: GOLD Is STILL a BUY

These Charts Say It All: GOLD Is STILL a BUY

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

European Debt Crisis Becoming A Greater Problem | International Forecaster Weekly Bob Chapman

European Debt Crisis Becoming A Greater Problem | International Forecaster Weekly Bob Chapman The International Forcaster | Economy News | Investing | US Market Information | Gold | Silver | Wall Street Bailouts | Investment Trends | Money Resources | US and Worldwide Politics

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Oil and gold prices surge overnight

Oil and gold prices surge overnight

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Middle East online gold and silver trading platform...Peter Cooper, Arabian Money

Middle East gets its first ever online gold and silver trading platform

By: Peter Cooper, Arabian Money

Monday, 21 November 2011 : GoldSeek.com 

Gold.ae has launched as the Middle East’s first ever online gold and silver trading platform, an indication of the growing interest in investment in precious metals in the region. It operates under the tax-free umbrella of the Dubai Multi Commodities Centre, a specialist freezone for commodities trading.

This initiative from the ‘City of Gold’ provides spot trading of gold and silver bullion ranging from 1 ounce to 1kg conforming to Dubai Good Delivery standards. There is also an e-shop for collectibles in gold and silver such as custom-designed coins and laser-engraved sketches.......
http://www.arabianmoney.net/

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.