![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/quotes_7a.gif)
Gold and Silver • Re: "Panic" For Physical Gold To UK Royal Mint Sale Triple
Physical Gold Fever Spreads to the UKApril 24, 2013/By:Josh Cox
http://www.tradethenewsroom.com/physica … he-uk-1397
If the seemingly coordinated hit on gold prices was supposed to temper the gold bugs lust for gold, lets just say those planners need to go back to the drawing board. First it was Asia that has been selling all types of physical gold and other precious metals. Their largest gold market sold out and was waiting on new deliveries. Then the US was seeing sales explode and the US mint even suspended sales of the 1/10th ounce gold eagle. Now it seems it is the UK’s turn to join the growing gold panic buying.
The British Royal Mint announced that gold coin sales are triple what they were this month last year. Sales are up 150% from last month as people rush to buy gold at prices they think will be the low. The UK was the last area not hit with a surge of buying and now it seems people across the globe are no longer placing their faith in central banks that seem committed to the race to devalue their respective currencies.
Online sales of gold have also skyrocketed in the face of the rapid sell-off in gold ETFs and futures. Here in the US, online dealers are backlogged week and months. There are even rumblings of vaults running completely out of stock. Owners of major coin dealers are calling it a panic as they say customers are jamming the phone lines to place new retail and wholesale orders. Their thinking is gold is at or near its low and it is only up from here.
Bank of America analysts are backing their claims. They see jewelry demand becoming so pronounced by 2016, that gold will remain above $1500 an ounce even if investors are net sellers.
Therein lies the difference between the physical and paper gold markets. While the massive sell-off in gold futures shook out a lot of investors and precipitated the move down, the physical market demand was more than willing to pick up the slack. Even with outsized premiums over spot.
With every day the passes, Central Banks continue to ramp up their race to the bottom of currency devaluation. Japan recently entered that fray in a big way and even secured the backing of the G-20. Residents of the country were none too thrilled with the move and have rushed to hard assets.
Now that the UK has joined the physical demand craze, it seems the backlog of orders will be enough to keep the gold dealers in a mad scramble throughout the rest of the year at minimum.
Statistics: Posted by DIGGER DAN — Wed Apr 24, 2013 6:54 pm
View full post on opinions.caduceusx.com
Gold and Silver • Re: Chaos, Inflation, $10,000 Gold & Silver In Triple Digits
I am thinking there is thousands of people who have no clue whats really going on with the fiat currencies and the ecconmies.If and when they finally do catch on and think they better jump on the precious metals band wagon, gold will be away to high for them to afford.It proably already is for most .Silver will be there only choice and this will help drive silver back to its traditional ratio of 16 to 1 with gold.It currently is at about 50 to 1.Be interesting to hear Yoda’s thoughts on this subject????? Recent forecasts I’ve seen for highs in gold are a minimum of $3500.00 per oz that would give silver a value of over $200.00 if it goes to its traditional ratio of 16 to 1.If gold goes to 10,000 an oz as this article suggests we could see silver over $600.00.If that happens I wouldnt want to forecast the price of a liter of gasoline or a loaf of bread but expect hyper inflation will have taken over and the cost of living will have gone through then roof and intrest rates will be unbearable
.
Statistics: Posted by DIGGER DAN — Wed Sep 19, 2012 1:44 am
View full post on opinions.caduceusx.com
Gold and Silver • Silver Price Triple Bottom
Silver Price Triple Bottom
Commodities / Gold and Silver 2012Jul 01, 2012 – 11:15 AM
By: Clive_Maund
TO SEE THIS ARTICLE C/W CHARTS GO TO:
http://www.marketoracle.co.uk/Article35414.html?
Much of what is written for the Gold Market update applies equally to silver, so it will not be repeated here. There are, however, some important differences that we will focus on here, which suggest that silver now has really big upside potential from this point, despite its comparatively anemic reaction on Friday to the news out of Europe, compared to other commodities
We are not going to do a "post mortem" here regarding what happened last week, other than to say that silver was on the point of breaking to new lows on Thursday, and would have done had little or nothing been achieved at the European summit, as was the case at the previous 18 summits.
There are 2 big differences between gold and silver which both suggest that silver has truly explosive upside potential from here. One is that silver has suffered a far more serious decline than gold over the past 2 years, with sentiment towards it becoming extraordinarily negative in the recent past, and the other that silver’s COT structure is now at record bullish levels, and far more bullish than that for gold. This is a situation where all it needed was some pivotal fundamental development – and last week we had it – to turn the tide in the other direction.
On its 6-month chart we can see that silver went into further decline during the early part of last week, taking it even lower, before reversing to the upside on Friday on the news out of Europe, and even though the rise on Friday was comparatively modest, it still left behind a clear "Bullish Engulfing Pattern" on the chart which is indicative of a reversal, particularly following a lengthy decline. It would appear that the markets have gotten so negative on silver, that even after what happened in Europe on Thursday night, they are "not convinced" – but they will be after further strong gains on short covering in the near future.
The 3-year chart shows that after severely testing the key support at the lows of September and December, silver is now in position to rally away from what should be seen later to be a Triple Bottom pattern. Although its moving averages are clearly in bearish alignment, silver will not have to rally too far to get above these averages so that they start turning up.
Given the extraordinary fundamental developments last week that have turned the markets up, in the process signaling an important broad reversal, it should be clear that we have an exceptionally positive risk/reward ratio for those going long silver here, as buyers can place fairly close stops beneath last week’s lows. Anyone short should reverse position at once.
Silver’s COT chart is now astoundingly bullish after the further contraction of Commercial short and Large and Small Spec long positions last week to record or near record lows since the bullmarket began. This is the kind of setup that typically precedes a major multi-month upleg.
By Clive Maund
CliveMaund.com
For billing & subscription questions: subscriptions@clivemaund.com
© 2012 Clive Maund – The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maunds opinions are his own, and are not a recommendation or an offer to buy or sell securities. No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis.
Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications.
Statistics: Posted by DIGGER DAN — Mon Jul 02, 2012 10:01 pm
View full post on opinions.caduceusx.com
Gold and Silver • John Embry – Gold to Rapidly Triple in Price on This Move
John Embry – Gold to Rapidly Triple in Price on This Move
http://kingworldnews.com/kingworldnews/ … _Move.html
With gold holding on to gains above the $1,650 level, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management, to get his take on where he sees gold headed from here. Embry informed KWN that gold was very close a major breakaway move to the upside. Here is what Embry had to say about the situation: “I’ve been of the mind for a considerable period of time that the gold price really wouldn’t accelerate to the upside until such time as the physical market finally overwhelmed the paper market. But I think we’re reaching the stage now where there is mounting buying of physical because people are starting to realize the paper price is fraudulent.”
We’re very close now to that important moment where the physical market actually does overwhelm the paper market, and as this takes place you will see massive moves in the price of gold. I will finally be convinced the physical market has gained ascendancy when the gold price is going up 4% or 5% a day or $100. That’s going to happen.
The ‘London Trader’ is right when he says there is a lagging effect from the physical purchases which is later reflected in the price. In the end, the Achilles heel of the paper manipulators is they have to be able to get enough physical gold to handle demand. So, I agree with the London Trader there is a delayed reaction.
I’ve had this discussion with a friend of mine, who was very active in the gold market of the 1970s, and he witnessed the London Gold Pool supplying as much gold as was necessary to keep the price suppressed. But at some point the entities working the London Gold Pool realized they only had a finite amount of gold. Even though they hate gold, they realized they couldn’t sell it all….
“I think we’re getting to that point once again, and that will be the inflection point that will kick off the physical explosion in the price. I’ve been surprised the suppression has gone on as long as it has. The gold has been coming out of the Western vaults through leasing, but I believe that has a very finite life now.
The minute this thing gets away and we start to have a real market and prices start to reflect real supply/demand, it will bring in a lot more demand at the same time supply is being diminished. This is why you’re going to have price moves of staggering dimensions.
What we are seeing, to date, is just the beginning because the market has been rigged the whole way up. But the fact is gold has risen from $250 to as high as $1,925 and that just reflects the power of the fundamentals. We haven’t seen the market break away from the rigging, which it will, and that’s when the huge moves will happen.
The technician I have the utmost respect for is Alf Fields. When I was at a conference in Australia, last November, Alf told me he believed gold had bottomed and would not break $1,500. He has now stated the bottom is in and his next major target is $4,500 on gold. That’s roughly a triple off the lows. That, alone, would kind of support the idea the physical market is going to gain ascendancy.
We will have $100+ up-days in gold. Right now it’s hard to believe, but we are going to see moves that will be staggering to market participants. You could see moves, to the upside, of hundreds of dollars in a day. When you say that, you almost lose people because they cannot conceive of that type of action yet.
If you contrast where we are versus the 70s, we are probably in the ’74 to ’76 time frame. So the big move in gold is still ahead of us. This time the moves will be greater because there is less physical gold available and conditions are infinitely worse. That’s where people get those numbers for gold like $10,000 and I could certainly see something like that happening.”
Statistics: Posted by DIGGER DAN — Wed Jan 18, 2012 11:55 pm
View full post on opinions.caduceusx.com