Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

CARTEL CAPITULATION WATCH

The DOW continued its winning streak, gaining 3 to 10,005. So did the DOG, as it rose 6 to 1976. It’s year-end tomorrow for many funds. They love this late rally.

The US economic news remains unimpressive:

08:30 Jobless claims for w/e 10/23 reported 350K vs. consensus 335K
Prior week revised to 330K from 329K.
* * * * *

10:00 Sept. Help Wanted Index reported 36 vs. consensus 37
Prior reading unrevised at 37.
* * * * *

12:18 China rate increase is not necessarily linked to move in more flexible yuan, says IMF -- Reuters
The increase (6:29 comment) may replace other measures imposed by China, says the IMF, who noted the move is a market response to managing the economy.
* * * * *

Russia’s Gold and Forex Reserves Record High at $105Bln
On Thursday, October 28, the Russian Central Bank announced that the country’s gold and foreign currency reserves hit another historic high at $105.2 billion. The reserves have grown by $5 billion in just a week, driven by high world oil prices and currency market jobbers. –END-

From The King Report last evening:

Durable goods were not only less than expected at 0.2% (0.5% exp.), a 26.5% jump in military orders (a satellite) kept it from being even worse. Ex-defense goods, the index fell 0.9%.

US new home median prices tanked 8.4% in September, their biggest decline in 23 years (9/91 -9.4%). But the financial media and Wall Street emphasized the 3.5% annualized sale gain. We have been warning for months that home prices started declining last December and that even though home sales numbers are jiggy, inventory building of homes is even more jiggy. And that means lower prices. Entry-level home sales (French for the low end) are still strong. PS – 1981 was a horrid recession that commenced after the ‘80 inflation peak. –END-

Chuck checks in:

Bill:
Let me take a shot at what appear to be irrational markets, at least as seen from a bear's eye view on the stock market and a bull's eye from a gold follower. I believe that after watching oil soar and the dollar drop as they have, we must realize that these are not necessarily going to be the drivers behind the next major and, as I believe, dramatic moves.

As one who believes that the greatest appreciation will eventually be in the exploratory companies, it is obvious that the lack of interest in them reflects the current economic conditions are not the ones that will fuel them. Thus, continued patience and a long-term perspective is needed to purge the frustration that most of us share.

It is noteworthy that Newmont and Goldcorp, the two leaders in the large cap pure gold plays continue to perform well in spite of the lackadaisical action of the smaller ones. We are also seeing the producing Canadian companies such as Wheaton, Meridian, and others also move up. This is the correct sequence as far as I am concerned. That means that the thought of speculating in a bull market is far way and, therefore, conversely, healthy. One day, the reverse will be true, as what occurred in the high tech bubble of the very late 90's.

In spite of relentless monetary pumping, organized rigging of the markets and records deficits all around us, the Dow still remains around 10,000 and the Nasdaq at 2000. Gold has historically traded contrary to the stock markets as it represents the other side of the monetary coin or paper, to be accurate. This held true during the depression of the 1930's and during the stagflation 1970's. This will hold true again in the tumultuous days ahead for us, except it will exceed the prior times by many multiples as we have reached the end of the great experiment and failure of monetary manipulation. Rather than get excited and frightened about every $5 drop in gold, we must recognize what is happening in our world. Soon, the lifestyles and expectations of Americans and other nations will change dramatically. Chuck ikiecohen@msn.com

Lombard Street Research
World Service Daily Note: 18th October 2004
China slowing sharply

SUMMARY: September money and trade data revealed that economic activity continued to slow. It is difficult to judge the extent of the slowdown, but the sharp weakening of broad money and credit growth bodes ill for China. The authorities are getting the upper hand, but the response to the administrative measures is likely to overshoot on the downside. China is set for a hard landing.

September money and trade data, out on Friday, confirmed that the economy continued to weaken. Given the unreliability of Chinese data, it is difficult to judge the extent of the slowdown. But the money and trade figures are one of the most reliable and key to the current state of the economy. Exports (s/a) rose in September, but are only back at June levels, underlying the worsening external environment. There is anecdotal evidence that export orders for manufacturers are falling. Imports (s/a) have now been falling for three months in a row, down by 1.4% on average in the three months to September compared with the average over the previous three months.

-END-

DJ Technical Special: Key Reversal In CRB Warns Commodity Bulls

By Jim Wyckoff CEDAR FALLS, Iowa (Dow Jones)--The Commodity Research Bureau Index is a composite price of a basket of over a dozen major raw commodities prices, including crude oil, grains, livestock and metals. It is an excellent gauge of overall raw commodity price inflation and is watched closely by traders and analysts for clues on general commodity price trends.
On Wednesday, the CRB Index hit a fresh all-time high of 289.29, and then promptly reversed course to close solidly lower and near the day's low. Strong losses in the energy futures were the main impetus for Wednesday's plummet in the CRB Index.

The CRB Index on Wednesday did score a bearish "outside day" down on the daily bar chart - whereby the high was higher and the low was lower than the previous day's price range, with a lower close. On Thursday, the CRB Index was showing follow-through downside price pressure and a bearish key reversal down was confirmed on the daily bar chart.

Separately, a very significant market development occurred overnight, which could have a major impact on the CRB Index and major raw commodities in the coming weeks and months. Chinese banking authorities raised interest rates for the first time in nine years, in an attempt to slow down a red-hot Chinese economy. Any slowdown in Chinese demand for raw commodities, including crude oil and soybeans, is likely to have a significantly bearish impact on those markets and other raw commodity markets heading into the new year.

If the CRB Index can rebound soon and go on to score a fresh all-time high, then the commodity markets bulls would become technically recharged and would again be looking for raw commodity price inflation to remain on the front burner in the coming new year.

On a longer-term technical basis, the CRB Index in October has seen what could be the beginning of a bullish upside breakout from a congestion area on the monthly bar chart. However, if the CRB cannot rebound from this week's losses and continues to slide in November, then technical odds would increase raw commodities in the coming weeks and months. Chinese banking authorities raised interest rates for the first time in nine years, in an attempt to slow down a red-hot Chinese economy. Any slowdown in Chinese demand for raw commodities, impact on those markets and other raw commodity markets heading into the new year.

If the CRB Index can rebound soon and go on to score a fresh all-time high, then the commodity markets bulls would become technically recharged and would again be looking for raw commodity price inflation to remain on the front burner in the coming new year.

On a longer-term technical basis, the CRB Index in October has seen what could be the beginning of a bullish upside breakout from a congestion area on the monthly bar chart. However, if the CRB cannot rebound from this week's losses and continues to slide in November, then technical odds would increase that a top in the CRB Index is in place and that commodity prices, in general, are headed sideways to lower in the coming weeks and months.

-END-

Cannot stress the cost factor enough when it comes to making money by mining gold. $400 bullion won’t cut it in the years to come.

NEW YORK, Oct 27 ( Reuters ) - The world's largest gold producer, Newmont Mining Corp. ( NEM.N: Quote, Profile, Research ), said on Wednesday that higher gold prices drove up quarterly profit by 12.5 percent, even though it sold less of the precious metal.

But ballooning costs for diesel fuel, steel and labor, pushed up the cost of mining operations, eating away at the benefit of a world bullion price that has soared this year. ...... –END-

Three years ago Willie McLucas, President and Chief Executive Officer of Thistle Mining Inc, told friends of mine that the GATA people didn’t know what they were talking about. Then he went out and put on a massive gold hedge with gold at sub $300 price levels. The hedge went toxic and now the company has blown up – however, the stock has rallied to 4 cents Cdn. Another hedger bites the dust:

Negotiations with Standard Bank
Thursday October 28, 10:01 am ET

TORONTO, Oct. 28 /CNW Telbec/ - The Board of Thistle Mining Inc. (TSX: THT and AIM: TMG) wishes to announce that the Company has received written notification of default from Standard Bank on its credit facilities.

The Company is currently in discussions with the Bank to remedy this situation.

William McLucas: william.mclucas@thistlemining.com, President and Chief Executive Officer, +44 131 557 6222 or +44 7836 638 912
-END-

A blast from the past – in an October 1999 MIDAS:

Midas has the real Kuwait story for you. The Kuwaiti's are very, very bullish on gold's price prospects.

Early this year, the legendary Willie McLucas (from Scotland) engineered the formation of Thistle Mining Inc (THT on the Toronto Exchange). Its aim is to "keep buying distressed mining companies and grow Thistle into an intermediate gold producer." McLucas calls Thistle "a global mining finance company," ie, a gold vulture fund.

Lord Lang of Monkton, a former Cabinet Minister in the British government of John Majors, is on Thistle's Board as is Adnan Al-Sultan who is also vice-Chairman. Al Sultan is also chief investment manager for the Direct Investment Department of the Kuwaiti Investment Authority. The KIA is the main investment arm of the Kuwaiti government. Its portfolio is estimated to be as high as $100 billion and it is estimated that Al-Sultan oversees $10 billion of that (according to a story about McLucas by Paul Kaihla of Canadian Business). There is a rumor among the Toronto Bay Street crowd that the Kuwaitis are prepared to back McLucas to the tune up to $1 billion in acquisitions, a rumor that McLucas denies.

Just for the record, the Kuwaiti Investment authority owns 83% of Thistle.

****

Oh well Willie, you blew it for the Kuwaitis as well as yourself. Talk about a bummer. Meantime, GATA has come a long way since you dissed us Willie, while you have gone tapioca.p>
The Red Sox’s stunning comeback in the AL playoffs, and subsequent sweep in the World Series, has to be a good omen for GATA.

With gold on its highs, after storming back from its early bombing, excitement was in the air. That excitement lasted about a half-hour when the cabal decided to have none of it, regardless of the dollar action. This kind of market manipulation and constant deflation of normal emotions is partly what has kept public interest in gold so abysmal. As we all know, this has been a major facet of the cabal’s modus operandi for years now.

From time to time I get asked why the cash market buyers don’t take the bums out? It’s the reverse. The major buyers today are big picture players and think long-term. They know the score, what The Gold Cartel has done, and why - and where the price is headed. They are hoping the specs are flushed out so they can buy more cheap gold. As is, they are there on dips to buy from weak specs who are dumping. It will be the specs who take out $430.

The gold shares were hit after an early rally. The HUI sank 3.47 to 228.69 and closed on its lows after making a 235.11 high. The XAU dropped 1.60 to 101.68.

Looks like we bide time until the election is over.

GATA BE IN IT TO WIN IT!

MIDAS

Appendix:
NOTE: We have had a hacker attack in our Chat Room and are working on the problem.

GOLD - The Weekly Gold Perspective
by Julian D.W. Phillips
Gold - Authentic Money
October 28, 2004

That was the week that was

Didn’t you feel the pace pick up quite a bit this week on the $ front? When it broke down, it did so quickly. Since then it has been moving fast both ways. This tells us that it is not going to slow down to the previous pace for a while. The move upwards was a gear shift upwards. Beware of thinking it will become stuck again soon. Yes, it is due to consolidate, but the hormone level has increased alongside the pace of price moves.

Global market prices:

Euro: Gold did not perform well in Euros this week. Having broken all the way up to Euros 340 previously, it pulled back to Euros 334 early in the week to stay there for three days before falling back to 332, then recover to Euros 334 at the time of writing. The price driver here was the oil price, which came off its top as stockpiles grew. Gold waned, but not to the extent of oil’s fall. But then, it never rose to that extent on oil’s rise.

U.S. $: Gold attacked $430 this week in a bust of vigour that was inversely proportional to the fall of the $, then fell back in a drop slightly larger than the fall of the $ itself in line with the pullback of the Euro.

Rupees: The Rupee has been relatively stable against the $, so reflected the fall. Previously at higher levels, buyers were deterred from picking up gold at the higher prices, believing they would pull back. This expectation led to an increase in scrap sales of gold in India, lowering the size of physical purchases in London. The present drop in the gold price could well reverse this scene soon.

Rand: With the strengthening of the Rand lowering profits on the mines yet again, the gold price dropped in Rands more than the Euro gold price. With inflation in South Africa also falling, the potential for more Rand strength and lower Rand gold prices is very real. There appears little reason to believe that Rand gold prices will enjoy the benefits of a rising $ gold price for a while yet still. A further drop in interest rates may sweeten this picture, but there is no apparent willingness on the part of the S.A. Reserve Bank to do this yet.

The market players.

The Physical buying waned strongly this week, but this was, we believe, a function of price only. They may well be back in strength shortly. Speculators restricted their activity to arbitraging, not speculating. We would be surprised if the long speculative positions changed this side of the Presidential election. Investors continue to feel more convinced of their long position and are now to be joined by South African direct gold Investors, a new feature of the global demand for gold.

Technical Analysis versus Fundamentals:

This week we have received e-mails from readers who are confused at the Technical picture now being presented by it. This is understandable, because we are in an area where the scene has become complicated and seemingly in conflict. We told you that many Technical Analysts warned that an interim top was being made before a gold price pullback last week. We have Analysts telling us that this is simply a consolidation phase before another successful attack on $430. As you can see from the above, the picture is different in different currencies. Now add to this--not the simple arithmetic of the factors involved in the picture--but how these factors often have a ‘multiplier’ effect on each other to add weight to the combination beyond the sum total of their individual parts.

Look how the price rise in Rupees led to scrap sales, a sort of doubling up effect.

The knowledge of a major drop in Central Bank sales is not the simple reduction of supply to the market, but encourages Investors, who seeing this change of attitude of the Central Banks, are then encouraged as new individual and institutional investors into gold. We have read how pensions funds are moving into this sector from the States and right around the globe to Japan into gold investments.

With the broadening of the fundamental base of the gold market, significant factors over the last two decades are moving into the shadow of new stronger fundamentals taking up their positions in this market.

Whilst we will always say the Technicals give clear guidelines as to where short-term and usually longer-term price peaks and troughs will be found, no professional approach to the markets would discard fundamentals. Put the two together and the professional is sufficiently armed to enter these markets. In answer to these e-mails, we have strongly suggested that they subscribe, not only to a Technical Analysis service, but to our fundamental service found in “Gold – Authentic Money”. This provides perspective and insight into the interaction as well as the detail of all these factors.

We want you to get this last week into perspective too, so have a look at these figures recorded at the time of writing and juxtaposed with last week’s figures: -

Last week, at this time gold stood at $423.80, six $ 60cents above last week’s figure and Euros 335.48 one Euro down from last week’s figure. The Euro itself is worth $1.26022 two cents stronger than last week.

At the time of writing, gold stood at $426.15 two and a half $ higher than last week and Euros 334.28, one Euro down from last week. The Euro itself is worth $1.2748, one cent stronger than last week.

Large Scale Speculators.

Long term Speculators were not active this last week, dealers doing arbitrage business held the floor, matching and smoothing out the prices between the States and the rest of the world, until yesterday, when New York, dropped the gold price down, in the face of dropping oil prices after gold was fixed at $428+. Now the fix of today was adjusted down to that level, clearly in agreement with the move.

Chinese interest rates up.

The Chinese have raised interest rates, a step that has caught most commentators, off guard. Its initial impact is that it has improved the value of the Euro in $s and helped the gold price to recover to the $426 level and to Euros 334 level.

Another point of confusion is that Chinese savings in banks are primarily in huge levels of deposits with very little borrowings. The banking system there is unsophisticated, so not the place from where most growth is financed. Hence, a raising of rates is likely to increase the sizes of these deposits, encouraging consumer spending there, not discouraging it. This story will intrigue the west no end, we are sure! – More comment next week!

Oil – Off the boil – for how long?

Perhaps the main reason gold prices fell later this week was the drop in oil prices by 5% on the back of rising inventories, rising more than four times expected levels. For the average Investor, this requires checking to see if this is a medium term + break in the price or just a temporary fall. The U.S. government's Energy Information Administration said crude stocks rose 4 million barrels to 283.4 million barrels, narrowing a deficit against last year to 9 million barrels. These figures show us that in the short term the U.S. deficit will be narrowed in a short time, so this stimulus to the gold price, et al, should cool off.

An indication of where the future is taking us is shown in how the main market suppliers are behaving? Clearly O.P.E.C. is still reacting as though high prices are a medium term feature, for the head of O.P.E.C. approached Washington to urge them to tap their strategic reserves, supply the market and so, bring down the oil price.

The U.S. was not convinced and said that only a severe supply disruption would warrant such a release of oil.

Will that happen in due time? The big problem lies in the underlying problem that supplies of light, low-sulphur crude have been having trouble keeping up with on-going, surging demand from countries such as India and China, where officials believe that the growth in demand may continue at the double figure level next year. And will supply rise to meet this demand? The ceiling appears to be relatively close already. Russia’s output, the world's second-biggest producer, will rise only 6-8 % next year, down from 11% in 2003. O.P.E.C is not able to expand supply to meet the burgeoning needs of these two developing countries. Demand for cars is rising at the rate of 50% per annum, alongside a similar figure in oil demand, and growth there is set for a couple of decades at least.

We have looked more closely at the future of oil in the latest issue of “Gold – Authentic Money”. This gives one the ‘big picture’ in rough strokes, but puts it beautifully in perspective for us.

South African Mineral Royalties.

Inflation figures are dropping and internal economic growth is rising, so encouraging the hope that another rate cut is on its way. If this does not happen expect a R in the region of R5 + in the near future. We cover South African Gold and gold equity indices in all our publications [see below].

South Africa repeated that mineral royalties should be based on sales, rather than profits and said it would publish legislation next year. Finance Minister Trevor Manuel said that the Treasury would soon release recommendations on the tax formula for gold mining companies. "It remains government's view that the royalty should be imposed on a gross ad valorem basis, but a number of critical issues have still to be addressed". The revised Mineral and Petroleum Royalty Bill would be published in 2005. "It will address outstanding issues, such as the differentiation of royalty rates, marginal mine treatment, the elimination of the double royalty risk and transitional matters," he said. The implementation of the tax would be delayed by two years to 2009. The rates as originally proposed run from 1.0% for oil drilled in deep offshore waters, to 3.0% for gold, 4.0% for platinum to 8.0% for diamonds. Mining firms have said the tax will have a heavy impact during a mine's start-up phase.

It appears that the S.A. government is somewhat impervious to the cries from the mining Industry that this will discourage overseas investment and raise the risks of investing in current South African mining companies. As it is the profitability of the mines is being damaged by a strengthening Rand which climbed to R6.18 and better, against the U.S.$ this week, inflicting further wounds on profitability.

South African Foreign Exchange Controls.

S. A. Finance Minister Trevor Manuel eased foreign exchange controls by removing limits on the amount companies can invest abroad. Before, South African companies were allowed to invest a maximum of 2 billion rand ($325 million) in Africa, and 1 billion rand outside the continent in any one transaction. Dropping these limits will help companies such as AngloGold Ashanti Ltd. and Gold Fields Ltd., and Harmony, the country's biggest gold producers, to buy more mines in other parts of the world. Alongside the introduction of Royalties, this measure will speed up the mining industry’s diversification away from South Africa to less, prospectively onerous, tax climates.

Manuel also said that South African companies will be allowed to retain foreign dividends offshore. Repatriated dividends may be taken offshore again at any time, the Treasury said. Limits on investment by South Africans in foreign companies listed on the Johannesburg stock exchange have also been lifted. South Africa in February announced plans to allow foreign companies to list in Johannesburg. Other controls on the amount of money pension funds and other fund managers are allowed to invest outside South Africa are being examined. On individuals, the R750,000 limit on the amount individuals can take out of the S.A. will be looked at fairly soon and then increased?

We fully expect Exchange Control, a feature of South African life for nearly forty years, to fade away in the near future? But beware, they can return in a heartbeat! A look at the trends in the South African government attitudes to the wealthy will encourage an osmotic process of capital flight over time... the very reason Exchange Controls were imposed in the first place.

NEW GOLD – Paper gold spreads further across the globe.

The World Council continues its efforts to market gold funds. In South Africa, together with a main, local bank ABSA, they are launching “New Gold” – Gold Bullion Debentures.

Each of these securities represents 1/100th of an ounce of gold and price in South African Rands. [Not the 1/10th of an ounce in the London listed “Gold Bullion Securities”]. Its code on the Johannesburg Stock Exchange is to be “GLD”. Its purpose is to track the gold price [less admin fees]. With the volatility of gold shares, particularly gold shares priced in Rands, this Debenture, is the first time South Africans have been able to ‘invest in pure gold’ without the problems usually associated with physical bullion and coins. These problems also included the speed with which one could deal.

The gold that is backing the Debentures is to be held at the Rand Refinery. [Where South African Gold is refined prior to export to the global gold markets.]

With the volatility of the Rand gold price at 18.98% compared to 46.2% on the Johannesburg Stock Exchange Index in the year to September 2004, this form of gold investment will be preferred by many individuals and Institutions, over gold shares.

With many believing that the Rand is within 10% of its ceiling against the $, this form of gold investment will probably act as a counter to the Rand in investment portfolios as well as an investment in itself.

It will be interesting to see the market reaction to this investment.

A gold publication, tailor - made for you!

We are continuing with our survey of what you want from a publication on Gold, Silver & Platinum, with the emphasis on gold. Would you be so kind as to spare us a moment of your valuable time to let us have your views? We will send you set of questions if you send us an e-mail asking for them. Wouldn’t it be nice to have your very own, tailor-made publication on these markets? For a set of questions please contact us at: Questions Email

Silver $7.20

The Silver price, as in the case of gold and Platinum, was steady in Euros and weaker in $. Now it has recovered to one cent lower than last week. Little change from the position of last week was registered. It would appear that this will be the case next week too. Methinks there is hidden strength in this price despite its vulnerability. One Silver enthusiast Subscriber, is extremely positive on this metal, even against gold, which position we now support, particularly on a ratio basis!

Platinum $823

Yes, the Rand down to R6.10 to the U.S. $ this week. With the $/Euro moves the price maker of these metals, expect more of the same next week. Platinum dropped 2.5% on last week’s rice a poorer performance than the Silver price!

The London Gold Fix

Gold Fix

Oct 28 a.m. $423.85 E 333.189
Oct 28 p.m. $428.25 E 335.015

bognair

ich dachte wenn die Leaserate steigt dann leiht sich einer Gold und verkauft es was Preisdruck bedeutet. Liege ich falsch ?

Kalle

wenn sich ein grosser mit Gold decken will dann leiht er sich nicht das Gold sondern kauft es.

yoyo,

wo habe ich was geschrieben,das sich ein grosser Gold leiht?

Ich glaube,Du hast den dazugehörigen Geschäftsablauf nicht ganz verstanden.

Wenn jetzt jemand,für 1Mrd Dollar Gold kaufen wollte,dann wendet er sich an eine Geschäftsbank,oder renomierten Goldhändler.
Der Goldhändler muss jetzt auf dem Markt das Gold besorgen,aber mit einem Milliardenbetrag,könnte er den Markt beeinflussen,dazu werden jetzt die Goldbestände der Hedgebücher herangezogen,oder es wird sich Gold bei einigen Zentralbanken geliehen,das wiederum zur folge hat,dass die Leasingraten steigen.

Ich hatte allerdings nur darauf hingewiesen,das mahendra es in seinen Ankündigungen schon vor vierzehn Tagen beschrieben hat.

Grüsse

Kalle

Na ja, mit der Hoffnung dass es vielleicht heute über die 430$ -Hürde gehen
könnte lag mein Bauch-Gefühl daneben.
Ich hätte vielleicht stattdessen meinen Kopf fragen sollen.

Aber immerhin hat Gold , soweit Kitco stimmt , mit 428,20$ als
Wochenschluss, den höchsten Wochenschlusskurs seit dem 9. Sept. 1988, damals 429,40$

Sollte eine interessante kommende Woche werden.
(habe vorsichtshalber Kopf und Bauch konsultiert, sie sind sich einig)

Germoney

und hier noch die Gold-Futures

Comex Gold Futures Settlement Prices

Open High Low Close Change High Low Open Int
Nov 428.50 up 3.40 416.10 405.30 499
Dec 519.80 429.80 425.00 429.40 up 3.30 436.50 290.00 248,943
Feb05 427.40 431.50 427.00 431.20 up 3.40 435.00 331.50 16,530
Apr 429.10 432.80 929.10 432.90 up 3.40 437.50 380.00 5,281
Jun 432.00 433.50 431.00 434.60 up 3.40 496.80 302.00 10,855
Jul 438.50 442.20 438.50 460.50 up 3.40 442.00 298.40 9,178
Ju06 445.50 445.50 445.50 447.00 up 3.40 449.00 312.00 8,314
Dc07 400.60 468.00 468.00 469.80 up 3.80 467.00 368.00 1,771
Est vol 54,000 vol Thi 62,532 open int 321,583 up 2,140

Folgt DEZ04-Gold-Future:

Und jetzt ist die 3-Monatsleihrate wieder unten. Aktuell bei 0,153 % gegenüber gestern 0,3%. Immerhin ist sie noch deutlich über dem Durchschnitt des vergangenen Monats.

Grüße

extrel

Einfach mal ein danke an Silversurfer, der sich hier tatkräftig bemüht, eine entstandene Lücke zu schliessen !!!

Gruß
Schwabenpfeil

@Schwabenpfeil/Silbersurfer

....dem kann ich mich blos anschliessen!Wir werden den Laden hier schon am laufen halten!

Die nächste Woche wird sicher sehr interessant und auch sehr volatil werden!Schätze aber,das Allan G. in den (vielleicht letzten?) Tagen seiner "Amtszeit" nochmal alle Register ziehen wird,aber letztendlich ohne Erfolg!

Let's wait and see...

Schönes Wochenende euch allen,egal wie's weitergeht...

Hallo Zusammen.

Ich danke euch erstmal sehr für die "warmen" Worte.
Ich habe nur mal wieder eine andere email adresse benutzt um die 2 Wochen Testabo bei Lemetropole Cafe zu nutzen.
Leider werde ich bald nicht mehr die GATA_Berichte reinstellen können.

Nun aber doch nochmals der vom Freitag.
Viel Spass & Alles GUTE!

October 29 - Gold $428.20 up $3.50 - Silver $7.29 up 14 cents

Gold Trading Like A Coiled Spring/Makes A 16-Year New High Monthly Close!!!

It is inaccurate to say I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office...H.L. Mencken, writer, editor, and critic (1880-1956)

GO GATA!!!

Gold came in higher and was quickly sold off by dealers and local traders when this US economic news hit the tape:

08:30 Q3 GDP reported 3.7% vs. consensus 4.3%; Consumption 4.6% vs. consensus 4.6%
Price Deflator 1.3% vs. consensus 1.6%
* * * * *

As the number was "dramatically" less than expected, you could hear the wind sucked out of the CNBC crowd and commentators. The immediate reaction had the S&P dropping 3, the dollar selling off, and gold rallying. However, this was to be short-lived as The Working Group on Financial Markets showed up on schedule to put the kibosh on the free market traders for the moment. Immediately, those same markets reversed course. No one knows this market adage better than the PPT: PRICE ACTION MAKES MARKET COMMENTARY. Since the US stock market futures rebounded so quickly, the disappointing GDP number began to fade as far as its negative significance was concerned.

The market then waited for other economic reports (see below), which turned out to be better than expected. Whether it was the PPT taking this opportunity to reduce their long exposure in the stock market, or was just profit taking after the big run-up this week, the market’s rally after those numbers was just as short-lived as the sell-off.

Now for the fun. No grumpy MIDAS today. Just the reverse. Jumping up and down like a crazed hyena here. Why:

*Gold traded in classic and picture perfect fashion today and unlike its trading on most days over the past 3 years. After the early sell-off, it ground its way higher very quietly, making new high after new high. It would back and fill and then charge ahead again. It must have made 10 new highs as the day wore on and closed only 30 cents off its last high.

Not only is that sort of trading unusual for gold, it also breaks the pattern of making highs for the day in the first 15 minutes to an hour. This tells me The Gold Cartel is in the most serious of trouble. This is just what they didn’t want to happen at the end of the month.

December gold
http://futures.tradingcharts.com/chart/GD/C4

*The close was the highest on a monthly basis in 16 years. It took out the March 2004 close of $427.30. To find a higher one, we need to go back to August 1988. Gold finished at $431.30 back then. This bodes very well for next week as big picture players like pension funds, hedge funds, etc., will take this significant monthly close as a buying signal and most likely will be looking to jump on board.

Gold monthly
http://futures.tradingcharts.com/chart/GD/M

*For the second week in a row there was a stunning surprise in the COT numbers released after the close. The small specs got even SHORTER. The large spec open interest rose 12,693 contracts and the short side rose 5,712 lots. The long commercial position fell by 80 lots and their short position rose by 3,964 lots. The small specs increased their longs by 3,462 contracts and increased their shorts by a stunning 6,399 contracts.

This is sheer speculation on my part, however I don’t believe this has ever happened before. With gold in the most positive technical position of all-time, the small specs are going more short. This is SO bullish as it confirms the weak Café Sentiment Indicator and lack of interest in the smaller golds. The public has little appetite for gold investments and the small traders want to get more short even as we make 16-year highs. YUMMY YUM!

*What makes this all so powerful is it confirms what John Brimelow has been sending our way for months; the STALKER too. That is the physical gold market is on fire. As you will read below, JB reports the Indian premiums to be at levels most seen on GOLD LOWS, not HIGHS. Why? Probably because the Indians are competing against the Chinese for supply – and against the Arabs and Russians, among others. This is why the cabal’s effort to flush out the specs keeps failing. Those buyers are waiting to buy the dips and they aren’t getting filled because of this fierce competition for the available supply - so they are forced to pay up.

*Silver surged a nickel right on the bell. Morgan Stanley and other "commercials" are trapped on the short side. To have BOTH gold and silver close so well on Friday is extremely impressive.

*The Café Sentiment Indicator continues its outstanding track record. For months MIDAS has pounded the table how incredible it was to have gold doing so well with so little public interest in the precious metals sector. The indicator is still no better than a 5 (Max) with gold at 16-year monthly highs. Maybe when gold goes $450 bid, the public will wake up?

*We are so close to getting our long awaited Commercial Signal Failure with the surging physical market doing in the crooks. That goes for silver too.

*Not only did gold and silver perform so nicely at such an important moment, copper went berserk, rising 8.3 cents per pound to $1.3375 as the warehouse stocks in Shanghai collapsed 29% out of nowhere. The copper bears have been counting on increasing stocks around the world to make their case. This is an Uh-Oh moment for the shorts.

From Bloomberg on copper:

"Global stockpiles monitored by the London Metal Exchange fell to a 14-year low, including declines at warehouses in Singapore and New Orleans. Phelps Dodge Corp., the largest U.S. producer, said China's copper use probably will increase 12 percent to 15 percent this year."

*Oil turned around too after staring at $50 per barrel, closing at $51.76, up 84 cents per barrel.

*On top of all of this, there is increasing nervousness over the US Presidential election next Tuesday. A very overvalued US dollar closed on its lows and lower against every major currency. If our election ever goes into another one of those protracted periods of determining who the real winner is, the dollar could really tank, not that it won’t anyway.

The John Brimelow Report

Bears prickled: AU & ABX growing Thistles?

Friday, October 29, 2004

Indian ex-duty premiums: AM $7.36, PM $8.12, with world gold at $425.55 and $425.95. Very ample, and lavish, for legal imports. The Indian paradox continues: partly in celebration of the correction in oil prices, the rupee firmed again to the highest since June 14, facilitating gold imports.

These are the sorts of premiums more normally associated with lows in world gold. Unless world gold prices rise meaningfully quite soon, the world’s largest gold buyer is going to be demanding the shipment of a great deal of physical.

On a much smaller scale, TOCOM continues a buyer. Volume fell 40% to the equivalent of 24,589 Comex contracts, but the active contract was up 5 yen and world gold went out $1 above NY’s close. Open interest edged up only the equivalent of 474 Comex lots, but according the Mitsubishi, the public’s long increased almost 10% to 80.1 tonnes (almost 26,000 Comex lots). Why this is happening is not clear – the yen rose to a 6 month high today, which is normally inimical to TOCOM gold longs – but the trend seems set and merits watching. Gold imports into Japan have been steadily rising for several months, and it is possible that the country is about to stage a private gold flurry. The 2001-2 bullion buying splurge stared much the same way, when state insurance of bank deposits was in question, as it is once again.

New York yesterday traded 65,532 contacts, with open interest rising 2,140 to 321,538, right back to the record high. In fact, the Bulls quietly won an important tactical victory. UBS notes:

"In New York yesterday, gold had a rather slow start with most professionals short, expecting stop-losses to be triggered. Gold did dip after the surprise Chinese interest rate increase but fewer than expected stops were triggered and the market then posted a nasty five dollar rally to peak at $427."

(Nasty from whose point of view?) Refco Research smelled the coffee and covered a reasonably profitable silver short before their target, muttering:

"it is hard to account for gold’s resilience—a third retreat from 430, 319,000+ (contracts) of open interest and a $4 dollar drop in crude oil, but December gold spends just 15 minutes below 423?"

A legitimate comment from an orthodox Western hemisphere perspective, e.g. ignoring India.

Barclays Capital’s Gold analyst Kamal Naqvi, who as an India could be expected to be aware of his country’s predilections is the only writer to grasp China:

"The reality is that Chinese demand has not been the major driver of gold and silver prices, so there is no direct implication from the exchange rate hike…"

Naqvi also points out the curious fact that hedge reducing AngloGold actually increased the net delta of its hedge book by 6.6 tonnes this quarter (which another observer notes may have been a mechanical response to price changes but surely could have been offset). Combined with ABX’s derisory 200,000 oz reduction, this raises the suspicion that the hedge books of these two firms are extremely adhesive, if not toxic. A very prickly – indeed Thistle -y situation.

Unless a very large and aggressive seller enters the gold market, $US prices will have to rise. Even a bout of dollar strength might not serve, unless the rupee is involved.

JB

John sent out two more missives juicy morsels later on:

JPM’s "Metals & Energy Technical Strategist" almost always plays gold as a short, with respectable success.. Don’t readily recall such a bullish stance, especially on a high.

"The market has again rejected the 430.50/431 highs (3rd time this year) but the pullbacks still look corrective to us… we can see the market extend to new highs in the week/s ahead… we are looking to build a long position for such a break higher, with little in the way of important resistance till 464 and then 500!! …only a move through 415 would really start to do damage to this view." (JB emphasis)

"Trade Strategies: Long Gold at 426 add at 423, risking 419 targeting 440/455"

***

The estimated volume rose 46% in last 30 minutes to 54,000.

***

This tells us some VERY big players wanted in before the weekend, while The Gold Cartel desperately did what they could to fend them off. Without the cabal’s relentless price-capping, gold would have erupted on the close. However, The Gold Cartel lost the day because of the 16-year high monthly close, one which will attract more accumulation early next week. A move above $431 spot could usher in a torrent of buying and could require the emptying of Fort Knox to stop a gold price explosion.

CARTEL CAPITULATION WATCH

The PPT fared better with their DOW propping. It rose another 23 to 10,027, while the DOG lost 1 to 1975.

The DOW managed to move up AGAIN and stay above the popularly important 10,000 mark even though the dollar closed late below 85 (84.98, down 38) and crude oil reversed course to close up sharply.

December dollar
http://futures.tradingcharts.com/chart/US/C4

The euro rose .64 to 127.93 and the yen ended the day at 105.82, a new low for the move.

US economic news:

08:30 Q3 Employment Cost Index reported 0.9% vs. consensus 1%
Prior reading 0.9%.
* * * * *

09:46 University of Michigan Confidence reported 91.7 vs. consensus 88 -- Reuters
Prior reading 87.5.
* * * * *

NEW YORK, Oct 29 (Reuters) - U.S. consumer sentiment deteriorated in October as rising energy costs and persistent job worries made Americans less optimistic about the future, according to a survey released on Friday.

The University of Michigan's said its consumer confidence index dropped to 91.7 in October, down from 94.2 in September but higher than a mid-month reading of 87.5, according to market sources who saw the subscription-only report. –END-

09:58 Oct. Chicago Purchasing Manager's reported 68.5 vs. consensus 59, says Bloomberg, citing Market News
Prior reading revised to 61.9 from 61.3.
* * * * *

10:04 Chicago PMI stronger than expected; strongest since January 1988
The 68.5% October reading was much stronger than the 59.0% consensus and September's 61.9%. It was also the strongest reading in more than 16 years. Both the orders index and production index were very strong - rising to 79.4% from 69.7%, and to 79.1% from 58.9%. The employment index remained subdued, rising to 54.1% from 53.9%. These regional indexes are quite volatile, so some caution is warranted in interpreting the October report, but the strength is nevertheless impressive. Stocks moved higher initially but are now pulling back: Dow +30.0. Bonds moved lower: 10-year note (4/32) to yield 4.07%.
* * * * *

WASHINGTON, Oct 29 (Reuters) - U.S. businesses are less optimistic about economic growth, hiring and capital spending than they were three months ago, but high energy costs have not had a big impact on spending plans, a survey on Friday showed.

In the survey of 115 members of the National Association for Business Economics, 29 percent said they were more pessimistic about economic growth in the second half of 2004 than they had been three months earlier, while 18 percent said they had a rosier outlook.

Just 14 percent of respondents expect the U.S. economy to grow at more than a 4 percent annual rate in the second half of 2004, down from 47 percent who saw such robust growth in July…

The survey was taken between Oct. 11 and Oct. 22…

-END-

What am I missing here? The Wall Street pundits continue to claim there is no inflation threat in the US. Yet, the employment cost index is running at double the rate of the Fed Funds rate, which means real interest rates in the US are still negative and that is inflationary.

What is going to happen to US business optimism WHEN higher energy costs DO start making an impact on spending decisions?

Some fun from Sarge:

Re seasonal and hedonic quality adjustments:

"It is of great importance to set a resolution, not to be shaken, never to tell an untruth. There is no vice so mean, so pitiful, so contemptible; and he who permits himself to tell a lie once, finds it much easier to do it a second and a third time, till at length it becomes habitual. --Thomas Jefferson

Hey Midas . . .

Anyone ever discuss the definition of hedonic? It comes from the Greek hedonikos, from hedone, which means "pleasure."

Ever heard the word "hedonistic?" That’s an adjective meaning "devoted to pleasure." Hedonism is any theory that gives PLEASURE a central role. Hedonism is the pursuit of pleasure as a matter of ethical principal. As Wikipedia says, "The simplest form of hedonism in ethics is "whatever causes pleasure is right". Even that simple version immediately runs into trouble. Pleasure for whom? Average pleasure? Is that the median or the mean? How can you make interpersonal comparisons of pleasure, anyway? Or even cross-time comparisons for the same person?"

Having said that, how do we apply this to STATISTICS?

So a hedonic quality adjustment is nothing more than number tweaking which results in pleasure. Now who are they trying to please?? You and I?? Or themselves??

I think the clowns in D.C. have a misunderstood on hedonic adjustments.

They aren’t pleasing me!!

Chuck checked in early on:

Morning. Did you come in for the funeral? One day we'll meet, and I still believe it will be watching the sunset over the Pacific in Puerto Vallarta, sipping a Modelo Negra or a Margarita.

The gold share market is getting more and more curiouser. I can't imagine who is selling these cheapies, but it is quite extraordinary. If gold is going to break out, we should see some real pop in Newmont and Goldcorp. The discrepancy between them and the exploratory stocks is getting more and more extreme. If this was occurring after a large move up, it would be a very dangerous warning sign, but I see the opposite here.

I wouldn't be surprised to see this happen right after the election, no matter who wins. It's a Friday, so I never expect anything good for us, but there is a persistence in the metals market. Chuck

Garic hits the nail on the head:

While I am sure most gold enthusiasts first reaction to this week in the market is once again being disgusted at the obvious the manipulation in Oil, Stocks and Gold, I am ecstatic. Whoever is taking the other side of the trades by shorting gold and buying stocks during an environment of growing stagflation spent a lot of money on a contra fundamental trend trade. Even with all this capping Gold is set up to close at a 16 year weekly closing high and a 16 year monthly closing high. 16 years is the amount of time Barrick & J.P. Morgan have been in the business of hedging Gold; therefore, by definition every hedge contract ever written is under water at the end of this week and the end of this month. J.P. Morgan just reported their poorest trading revenue in many quarters. By definition their Gold trading books will be closing this week and this month at new lows. Pressure will be building to make quarterly earnings and it is clear their Gold trading tactics are hurting. Moreover their clients have to be breathing down their necks. As far as Barrick is concerned management will be looking at month end numbers with the biggest mark to market loss in the history of the Gold market. It is now closing in on $1.8 Billion.

Technically speaking the Gold market has now completed a similar chart pattern as it’s 28 week consolidation of 2002 which setup the move from 330 to 380. Any one who has ever studied William O’Neils greatest winner’s charts should be drooling; a clear cup and saucer formation has formed.

The U.S. dollar index is also closing at an 8-year weekly and monthly closing low. Therefore, prudent foreign holders of U.S. financial assets will be losing sleep this weekend.

As far as the stock market is concerned every time the Dow has rallied off of it’s lows this year the VIX (Volatility index) has plunged; theoretically from smart money shorting puts. This time it didn’t plunge. Does that mean smart money feels this is a temporary rally; therefore, they are using this rally in the averages to cover their short in puts. It is being reported that dollar volume of new issues this month has been the highest since October 2000. So I went back and took a look at October 2000. Let’s remember that the economic climate had turned down over the summer; yet, the S&P and Dow hung in going into the election and had a significant 8 day rally at the end of October going into the election closing Monday November 6th the day before the election at 1432. The rest of the week was not so good the S& P fell to a closing low of 1351 by November 13th and continued down 21% over the next 5 months to close at 1139 on March 23rd. There is a reason to believe we are set up in a similar technical position and fundamentally the economy has rolled over in a worse fashion.

So who would you rather be: a foreign investor in American financial assets, a stock index investor who if history repeats itself is about to lose 21%, a J.P. Morgan account executive whose client is sitting on a $1.8 Billion mark to market loss or an investor in Gold which just closed at a 16 year monthly high. For all that has been said about the open interest in Gold being large, one thing is indisputable the longs have a profit and the shorts have a loss.
Garic

Mahendra versus Arch Crawford:

TODAY AT 14:15 P.M. E.S.T., ASTROLOGER ARCH CRAWFORD WAS INTERVIEWED ON CNBC STREET SIGN.
HE PREDICTED TODAY GOLD IS AT TOP AND WILL START TO DECLINE FOR NEXT 30 DAYS BEFORE RISING AGAIN. SAME FOR OIL.
ANY COMMENTS?
KIND REGARDS
ELMAR

My friend Mahendra called today, pleased as punch and just as bullish as ever on gold and silver. I’m going with him.

I’m not watching CNBC. However, how typical. Gold makes a 16-year monthly high close and they bring on a bear.

More proof that mine gold supply is on the wane, while costs are rising sharply:

JOHANNESBURG (Mineweb.com) -- Production targets at the Ashanti operations that AngloGold absorbed earlier this year were nearly met at in the third quarter of 2004, but costs were substantially higher than budgeted.

The 310,000 ounce target set in the third quarter was about 13,000 ounces short, according to Mineweb’s calculations, while costs at the mines averaged around $296/oz, compared to the $269/oz budgeted… - END-

Last night I had a lovely dinner at the Petroleum Club here in Dallas with my friends Charles Pace, his pretty and brainy girl friend Kate, Ray Foster, and Neal Foneman, CEO of Aflease in South Africa. Neal was impressive and seems like the right man to turn this beleaguered company around. It has been beset with investor/management turmoil, skyrocketing energy costs, and much higher rand affiliated costs. Recently, they shut down some gold operations which were causing a cash flow drain and have restructured the company to concentrate on their strengths:

*A world class Uranium resource.

*Expediting production from their high margin gold properties and going into production in Q2 2005.

Other South African gold producers have been beset with similar problems. Durban Deep is an obvious one. When gold takes off, the South African gold producers that have been beaten up are likely to roar. Few in the gold world envision bullion trading at $500. It will. As gold takes off for that kind of price level, the cost problems besetting these companies will fade in the background and their share prices will explode.

To read more on Aflease (35 cents on the Nasdaq pink sheets), go to http://www.aflease.com

There is another enormous positive about this company. It is surrounded with some of the brightest and most able people in the gold industry. They are also some of my favorite people anywhere:

*Brett Kebble, GATA’s hero, who rescued Aflease via a bailout through Randgold Resources.

*Peter George, the Mr. Gold of South Africa, and a veteran, staunch GATA supporter. Peter is a substantial investor in the company.

*Ferdi Lips, ex-Swiss banker of note, who wrote Gold Wars, and has had an exemplary career in and around the gold industry from his native Zurich. Ferdi is a Director.

I own Aflease and will be buying more in the near future.

One of the most enjoyable aspects of my tenure as GATA chairman the past 6 years has been the people I’ve met and how many are intertwined. Neal met with J-Pacific CEO Nick Ferris in Vancouver before coming to Dallas and also with one of my heroes, the ubiquitous John Anderson. Japan’s legendary Tammy Matsufugi (who has one of the only gold funds in Japan and is another GATA supporter) is a significant investor in both J-Pacific and Aflease. Then there is GATA favorite Adam Fleming, former Harmony chairman, whom Neal worked with years ago at Harmony. All in all, a wonderful group of people.

The gold shares rose with little enthusiasm and are falling way behind bullion. The XAU gained 1.84, while the HUI rose 4.91 to 233.60.

HUI
http://bigcharts.marketwatch.c…&o_symb=hui&freq=1&time=8

While gold is making its 16-year monthly highs, the HUI isn’t even close to its 52-week high of 258.60.

Rarely does a fundamental and technical set-up come together like this in such an incredibly bullish way. There is no telling what could happen when gold breaks through $430 decisively. It’s only a matter of time before a gold derivatives neutron bomb goes off, which could send the price up in ballistic fashion. When and how will depend on the speed of gold’s price ascent. Stay tuned though, one is coming in the weeks or months to come.

One more point to stress going into this sweet dreams weekend. While some of the most sophisticated investment players in the world (like the Russian Central Bank) know what GATA knows, your average investment manager has never even heard of us and our work, thanks to the fact we do not have a free financial press in the United States. They don’t know half the central bank gold is no longer there. They don’t know the humongous size of the gold short position, one which cannot be covered unless gold rallies hundreds of dollars per ounce – and then only because the peasants of the world take profits with their holdings and bring thousands of tonnes of scrap to the market. They don’t know about what kind of scam The Gold Cartel has pulled on the investment world. They will one day, but not now.

What is important is YOU KNOW! And therefore, YOU KNOW what is coming!

GATA BE IN IT TO WIN IT!

SMILIN' MIDAS

Appendix

Just sent to WSJ, Barron’s, Power Lunch, Kudlow & Cramer, IBP, Bloomberg & Street Account.

Editors,
Comex Gold Futures had a 16 year weekly and monthly closing high today. The previous weekly closing high was 426.80 on 01-04-04. The previous monthly closing high was 427.30 on 03-31-04. Many market observers believe weekly and monthly closing prices are more significant than daily closing prices because this shows true investment interest. While the media has been reporting that Gold has been rising only because of the falling dollar the real story in Gold is after 16 years of producer hedging mine production is below jewelry demand. Producer hedging has helped depress the price of Gold and thus the long range profitability in the Gold Mining Industry. Indeed, Barrick Gold’s mark to market loss in their hedge portfolio has crossed $1.8 Billion with today’s closing prices. Third quarter earnings report from every major Gold Mining Company showed falling production and rising costs and depressed earnings across the board. This suggests there is little incentive to bring more production on line even with the highest prices in 16 years. The chart formation in Gold is now a classic William O’Neil Cup & Saucer technical formation.
Garic

@ ALLE

Ich denke das ist hier ein super tolles Forum.
Wenn alle ein bisschen Informationen über unsere Lieblingsthemen herbeischaffen, so können wir das Forum auch ohne die Leute die gegangen sind am leben halten.

Hat in die Tasten und lasst was von euch lesen :], SIlversurfer

Zitat

Original von silversurfer

Ich danke euch erstmal sehr für die "warmen" Worte.
Ich habe nur mal wieder eine andere email adresse benutzt um die 2 Wochen Testabo bei Lemetropole Cafe zu nutzen.
Leider werde ich bald nicht mehr die GATA_Berichte reinstellen können.

Hallo Silversurfer,

schick mir doch mal per Boaermail die Links zur Registrierung für die Testabos. Vielleicht kann ich ja dann mal für eine Übergangszeit übernehmen.

Gruß
Schwabenpfeil

By the way: Die warmen Worte hattest Du Dir durch Deine Tatkraft wirklich verdient.

Gruß
Schwabenpfeil

Zitat

Original von silversurfer
@ ALLE

Ich denke das ist hier ein super tolles Forum.
Wenn alle ein bisschen Informationen über unsere Lieblingsthemen herbeischaffen, so können wir das Forum auch ohne die Leute die gegangen sind am leben halten.

Hat in die Tasten und lasst was von euch lesen :], SIlversurfer

Long term gold chart in euros per kilo
Wan es los geht wird es schoen werden

Von zuletzt 428 Dollar könnte der Goldpreis in den kommenden Monaten auf 550 Dollar je Feinunze steigen. Das erwartet Joachim Berlenbach, führender Goldanalyst und Fondsinitiator. Er begründet dies mit den Förderkosten, die seit 2002 branchenweit im Schnitt von 246 Dollar pro Unze auf 419 Dollar gestiegen sind, denn die abbaubaren Vorkommen sind weitgehend erschöpft. Viele Minen arbeiten daher nicht mehr kostendeckend und schränken ihre Produktion ein. Das verknappt das Angebot und treibt den Goldpreis nach oben. Vor allem Aktien von Minen, die mit niedrigen Kosten arbeiten und noch über größere Vorkommen verfügen, dürften attraktiv bleiben. Der Craton Capital Precious Metal Fund von Berlenbach und Manager Markus Bachmann (ISIN LI0016742681, Ausgabeaufschlag 5%) versucht, die Perlen der Branche zu finden.

Quelle: Focus 45/2004, S.193

Gold May Rise for Second Week on Investor Demand, Survey Shows

Gute Chancen dass die 430 nächste Woche fallen...

http://quote.bloomberg.com/app…3Gw&refer=movers_by_index

@Springbock

Postet eigentlich Thai auf http://www.silberinfo.de?

Also direkt kopieren würde ich nichts. Das gehört sich für meinen Geschmack einfach nicht. Aber wenns jemand macht, wer wills ihm verbieten?

Smartie