Gadsden
Contributing Member
Maybe JPM and Brinks running out of the barbarous relics just ahead of the August delivery month is having an effect?
http://www.kitco.com/charts/livegold.html
http://www.kitco.com/charts/livegold.html
Gadsden
Contributing Member
Gold Surges To Its Best Day In 13 Months
http://www.zerohedge.com/news/2013-07-22/gold-surges-its-best-day-13-months
http://www.zerohedge.com/news/2013-07-22/gold-surges-its-best-day-13-months
Doc1
Has No Life - Lives on TB
Could be. My take is to sit on phyzz until serious strength develops. When would that be? I'd say at $5000+/oz.
Best regards
Doc
Hfcomms
EN66iq
Gold Headed To Old High, But Gains In Silver Will Be Historic
Silver it outperforming gold today. It's up over a buck now. I think that both gold and silver have put in their lows last month. Time will tell.
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With the price of gold and silver soaring, today John Embry told King World News there is going to be a continued massive surge in the gold price, but the gains in silver will be “historic.” Embry spoke at length about the gold and silver markets, the Fed and the mining shares. Below is what Embry had to say in this powerful interview.
Embry: “I’m focused on the better tone in the gold and silver markets. It’s been a long struggle, but with all of the information that’s come out recently regarding how tight the physical market is and the fact that the paper gold market really is one of the greatest Ponzi schemes of all-time, I think we could finally be on the cusp of a huge move in gold....
“I’m not talking $100 to $200 move for gold. I mean gold going back to the old high of $1,920 in a fairly short period of time.
One thing that drove me crazy last week was Bernanke’s testimony and some of his statements after the fact. Gerald Celente noted that Bernanke said if the Fed wasn’t continuing to print money, that the economy would ‘tank.’ That’s exactly what all of us have been saying on KWN for months, if not years.
But it’s interesting that Bernanke basically said as much himself, and nobody picked up on it. Bernanke was asked by one of the Congressmen if he was printing money, and he answered, ‘not literally.’ Now what does that mean? If you are creating $85 billion a month to buy Treasuries and bad bank mortgage debt, if that’s not printing money then nothing is.
Bernanke was also asked if his policies were benefitting Wall Street to the detriment of Main Street. He actually said that he was facilitating the purchases of cars through his low rate policy. That’s the same problem we had with the housing boom four or five years ago. His low interest rates spawned a housing bubble, and now we have an impoverished public buying cars they really can’t afford. This is astounding stuff.
But I found his comments regarding gold particularly insulting. After stating that lower gold prices may indicate less concerns about extreme outcomes, he then said, ‘Nobody understands gold prices and I don’t pretend to understand them myself.’
Quite frankly, the Fed has been at the forefront of the two-decade suppression of the gold price which was undertaken in order to create a misleading impression about central bank monetary policy and the inflationary implications. So I would suggest that he is being disingenuous at best when he makes comments like that about the gold market. I’m just appalled.”
Embry had this to say regarding silver: “If gold finally starts to get out and run and we finally see silver punching through $20 convincingly, silver will be ready to begin a massive leg higher. The fundamentals for silver are beyond spectacular. When this whole bull market resumes with a vengeance, silver is going to outperform gold. Gold will do extremely well on its own, but the gains in silver will be historic.”
Embry also added: “The mining shares have been through a tragedy, and a lot of these companies are impaired. But for those companies that aren’t impaired I think you are going to see the greatest bull market gold and silver mining shares that has ever taken place.
Most people are valuing these shares today on the premise that gold is going to $1,000. Well, gold isn’t going to $1,000, it’s probably going to $4,000 or $5,000. And when that becomes apparent to more and more people, the impact on the companies producing this stuff, or that have large, unexploited ore bodies is going to be enormous. I never thought the market would take high quality mining shares to these levels, but it’s just created a fantastic buying opportunity.”
http://kingworldnews.com/kingworldn...gh,_But_Gains_In_Silver_Will_Be_Historic.html
Silver it outperforming gold today. It's up over a buck now. I think that both gold and silver have put in their lows last month. Time will tell.
----------------------------------------------------------------------------------
With the price of gold and silver soaring, today John Embry told King World News there is going to be a continued massive surge in the gold price, but the gains in silver will be “historic.” Embry spoke at length about the gold and silver markets, the Fed and the mining shares. Below is what Embry had to say in this powerful interview.
Embry: “I’m focused on the better tone in the gold and silver markets. It’s been a long struggle, but with all of the information that’s come out recently regarding how tight the physical market is and the fact that the paper gold market really is one of the greatest Ponzi schemes of all-time, I think we could finally be on the cusp of a huge move in gold....
“I’m not talking $100 to $200 move for gold. I mean gold going back to the old high of $1,920 in a fairly short period of time.
One thing that drove me crazy last week was Bernanke’s testimony and some of his statements after the fact. Gerald Celente noted that Bernanke said if the Fed wasn’t continuing to print money, that the economy would ‘tank.’ That’s exactly what all of us have been saying on KWN for months, if not years.
But it’s interesting that Bernanke basically said as much himself, and nobody picked up on it. Bernanke was asked by one of the Congressmen if he was printing money, and he answered, ‘not literally.’ Now what does that mean? If you are creating $85 billion a month to buy Treasuries and bad bank mortgage debt, if that’s not printing money then nothing is.
Bernanke was also asked if his policies were benefitting Wall Street to the detriment of Main Street. He actually said that he was facilitating the purchases of cars through his low rate policy. That’s the same problem we had with the housing boom four or five years ago. His low interest rates spawned a housing bubble, and now we have an impoverished public buying cars they really can’t afford. This is astounding stuff.
But I found his comments regarding gold particularly insulting. After stating that lower gold prices may indicate less concerns about extreme outcomes, he then said, ‘Nobody understands gold prices and I don’t pretend to understand them myself.’
Quite frankly, the Fed has been at the forefront of the two-decade suppression of the gold price which was undertaken in order to create a misleading impression about central bank monetary policy and the inflationary implications. So I would suggest that he is being disingenuous at best when he makes comments like that about the gold market. I’m just appalled.”
Embry had this to say regarding silver: “If gold finally starts to get out and run and we finally see silver punching through $20 convincingly, silver will be ready to begin a massive leg higher. The fundamentals for silver are beyond spectacular. When this whole bull market resumes with a vengeance, silver is going to outperform gold. Gold will do extremely well on its own, but the gains in silver will be historic.”
Embry also added: “The mining shares have been through a tragedy, and a lot of these companies are impaired. But for those companies that aren’t impaired I think you are going to see the greatest bull market gold and silver mining shares that has ever taken place.
Most people are valuing these shares today on the premise that gold is going to $1,000. Well, gold isn’t going to $1,000, it’s probably going to $4,000 or $5,000. And when that becomes apparent to more and more people, the impact on the companies producing this stuff, or that have large, unexploited ore bodies is going to be enormous. I never thought the market would take high quality mining shares to these levels, but it’s just created a fantastic buying opportunity.”
http://kingworldnews.com/kingworldn...gh,_But_Gains_In_Silver_Will_Be_Historic.html
Gadsden
Contributing Member
Another thing that might be helping gold is that it is in its 11th day of backwardation out to 3 months. This implies faith issues in future delivery. It also implies that folks are starting to denominate dollars in gold rather than gold in dollars. If the latter is true, we may be on the verge of gold re-monetizing rather than simply increasing in dollar price. Too early to tell, though.
http://www.lbma.org.uk/pages/index.cfm?page_id=55&show=2013
http://www.lbma.org.uk/pages/index.cfm?page_id=55&show=2013
Possible Impact
TB Fanatic
Bloomberg TV @BloombergTV 26m http://twitter.com/BloombergTV/status/359419009654988801
BREAKING: Fed Seen Tapering QE in September by Half of Economists Surveyed
BREAKING: Fed Seen Tapering QE in September by Half of Economists Surveyed