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

  • Schwabenpfeil,


    an Goldpreismanipulationen glaube ich schon. Es ist aus historischen Gründen und als absoluter Wertmesser für Währungen zu bedeutsam, als daß die Notenbanken den Wert nicht „managen“ wollten.


    Aber an Bill Murphy´s 6-Dollar-Regel glaube ich nicht.


    Es will mir nicht einleuchten, daß eine hochgeheime, konspirative Gruppe der Notenbanken/Regierung mit der Aufgabe den Goldpreis zu manipulieren, sich an eine so plumpe, formalistische Regel hält und diese Grenze unter allen Umständen verteidigt.


    Der Goldpreis steigt um 7,20 Dollar und Bill Murphy sagt, die 6-Dollar-Regel hätte gehalten. Da kann ich ihm nun mal nicht folgen, da ist Schluß. Winkelzüge machen die Sache auch nicht besser (Riesenbandbreite)


    Bill Murphy sagt, die 6-Dollar-Regel wäre in den letzten Jahren nur ein einziges Mal gebrochen worden. Aber wie im Thread über diese Regel (hier im Forum ) aufgeführt, ist der Goldpreis in den letzten Jahren etliche Male mehr als 6 Dollar gestiegen.


    Letztes Jahr meinte Murphy, die 6-Dollar Regel wäre erst gebrochen, wenn der Goldpreis 8 oder mehr Dollar steigt. Aber 8 Dollar sind erheblich (33%) mehr als 6 Dollar, so daß schon die Bezeichnung 6-Dollar-Regel falsch wäre.( Warum nicht eine 5 Dollar-Regel mit Obergrenze 10 Dollar?) Zudem ist der Goldpreis auch im letzten Jahr – meines Wissens – schon über 8 Dollar gestiegen.


    Gestern nun sagt Murphy, die obere Bandbreite liege bei 7,40 Dollar. ( Warum genau 7,40 und nicht gerundet auf 7,50?)
    Murphy widerspricht sich damit selbst: Im letzten Jahr waren´s noch 8 Dollar, nun 7,40 Dollar.


    Einerseits behauptet Murphy, es gäbe diese ultimative Grenze für das Plunge Protection Team, anderseits vermag er nicht einmal die Grenze eindeutig zu definieren.


    Was wir gestern gesehen haben, war ein bildschöner kontinuierlicher Goldpreisanstieg. Der Chart zumindest läßt nichts von Inventionen vermuten. Murphy sagt, während der New Yorker Handelszeit sei der Goldpreis nach einem Anstieg ganz zu Beginn nur um 20 Cent gestiegen. Nach dem Kitco-Chart ist der Goldpreis auch während New Yorker Zeiten stetig nach oben gegangen.
    (Nachträglich: Habe noch einmal den Chart angeguckt und sehe, was Murphy mit seinen 20 Cent meint. Andererseits sieht man genau daran, wie willkürlich Murphy seine Daten aus dem Chart gepickt hat, um zu seiner Schlußfolgerung zu kommen. Tatsächlich ist der Goldpreisanstieg erstaunlich gleichmäßig vor und innerhalb der New Yorker Handelszeiten erfolgt. )


    Murphy meint, ohne Manipulationen wäre der Goldpreis um 10 bis 20 Dollar gestiegen.


    Was ist passiert? Eine fernöstliche Bank – nicht Japan oder China – will ihre Devisen diversifizieren. Diese Tagesnachricht ist doch kein Grund, daß der Wert des Goldes sich um 20 Dollar erhöht hätte.


    Wer kann dem Gold einen Anstieg von 20 Dollar auf solch eine Nachricht wünschen? Was innerhalb weniger Stunden um 20 Dollar steigt, kann in gleicher Frist um 40 oder mehr Dollar sinken (Kurseinbrüche sind häufig dramatischer als Anstiege). Wäre es gerechtfertigt, das der Goldpreis um 50-100 Dollar sinkt, wenn China und Japan bekanntgäben, sie blieben beim Dollar als einziger Reserveeinheit?


    Im Grunde ist die 6-Dollar-Regel im Zusammenhang mit Goldpreismanipulationen auch völlig unnötig und irrelevant. Das Eingeständnis, daß sie mehrfach durchbrochen wurde, ändert an der Frage der Goldpreismanipulationen keinen Deut. Murphy´s Leugnung der mehrfachen Verletzung seiner Regel zeigt mir, daß er gewaltige Scheuklappen trägt. Sorry.


    Wie sieht Du das, mit der 6-Dollar-Regel und deren angeblicher Unüberwindbarkeit , Schwabenpfeil?

    Einmal editiert, zuletzt von Ulfur ()

  • Ulfur
    Ich warf zwar nicht dazu angesprochen - dennoch kurz dazu:
    Du hast Recht: man muss hier nicht krampfhaft "Regeln" innerhalb eines Manipulationsprozesses suchen wollen. Murphy wird hier sicher nicht erfolgreich sein.


    Der Punkt, den man nicht oft genug betonen kann, ist und bleibt jedoch:
    a) es GIBT diese Steuerung/Manipulation/Kabale/Preismanagement!
    b) die Belege dafür sind offensichtlich und nicht zu leugnen
    c) dennoch geschieht genau diese kollektive Ignoranz skandalöserweise täglich in der Mainstream-Presse


    Und: Genau 6$ sind es sicher nicht (wie Du sagst: viel zu plump für die Leute, die dahinter stehen) - aber es steckt schon bis zu einem gewissen Grad System dahinter: es wird immer wieder versucht
    a) die Charttechnik zu zerstören, um Momentum-Trader vom Goldmarkt fernzuhalten
    b) gerade kurz VOR/WÄHREND Krisensituationen (in denen Gold eigentlich hochschießen müsste und würde) den Preis zu drücken
    c) jegliche fundamentale oder zufällige starke Kurssteigerungen ab einem gewissen Grad (zB eben ca. 6$/Tag) auszustoppen, um keine schwer zu stoppende Eigendynamik entfalten zu lassen.


    Diese Gottspielerei im Goldmarkt kann man schon sehr lange beobachten und ich rechne weiterhin damit, dass es bis zum physischen Nullbestand der an der Manipulation beteiligten Bullion und Notenbanken so weitergeht. Und danach?: denke, die heute Beteiligten sagen sich "après nous le déluge" - nach uns die Sintflut. Allerdings dürften sie es vor diesem Tag X wohl noch schaffen, irgendwie ihre Gold-Shortpositionen geschlossen zu haben. Viele werden dann sogar long sein - und ihre Medien noch bis zum Tag X "short" schreien lassen. So läuft das Spiel noch etwa 1-3 Jahre lang.

    Erst wenn die letzte Bank pleite, der letzte Staat ruiniert, die letzte Währung wertlos geworden ist, werdet Ihr merken, dass man Gold nicht drucken kann.

  • Zitat

    Original von Ulfur


    Im Grunde ist die 6-Dollar-Regel im Zusammenhang mit Goldpreismanipulationen auch völlig unnötig und irrelevant. Das Eingeständnis, daß sie mehrfach durchbrochen wurde, ändert an der Frage der Goldpreismanipulationen keinen Deut. Murphy´s Leugnung der mehrfachen Verletzung seiner Regel zeigt mir, daß er gewaltige Scheuklappen trägt. Sorry.


    Wie sieht Du das, mit der 6-Dollar-Regel und deren angeblicher Unüberwindbarkeit



    Hallo Ulfur,


    zunächst mal ist es wichtig, dass wir übereinstimmend der Meinung sind, dass der Goldmarkt mit Sicherheit nicht nur dem freien Spiel der Marktkräfte überlassen ist :D


    Dann sind wir uns wohl auch einig, dass es keine offizielle 6 $ Regel gibt. Es handelt sich also um eine These von Murphy, die er aus seinen jahrelangen Beobachtungen ableitet ...


    Ich habe daher diese "Regel" für mich persönlich daher immer mehr als eine Art "Zielsetzung" des Gold Cartels aufgefasst. Wahrscheinlich ist es keine starre Grenze, sondern eine Art Orientierungsgröße für das Gold Kartell.


    Mir persönlich gefällt Murphy ziemlich gut, da "verzeihe" ich Ihm einfach den einen oder anderen "Ausrutscher" oder einzelne "Unpräzessionen". Ob er deshalb "Scheuklappen" trägt ??? ?( Nun, wenn einer einerseits einen engagierten jahrelangen Kampf austrägt, wird er andererseits mit Sicherheit nicht immer völlig "objektiv" sein können ... ;)



    Gruß
    Schwabenpfeil

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    Man muss nur die Nerven bewahren !

  • February 23 – Gold $434.60 up 40 cents – Silver $7.41 down 8 10 cents


    Former Fed Chairman Paul Volcker, "as dangerous and intractable circumstances as I can remember."


    "I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said."
    - Alan Greenspan, Federal Reserve Chairman; During Congressional Testimony


    Or, was the above quote from the Koreans?


    An early MIDAS, as I am off to San Diego to watch my niece play for her college tennis team. After yesterday’s debacle, the US went into damage control mode and must have raised Cain with the South Koreans. When the Koreans woke up and saw (or were berated for) the carnage, they began to backtrack on their remarks about the dollar. The fact that their first comments most likely reflected the truth has become irrelevant for the day. Placating the Orwellians in the US became the name of the game for the moment.

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • S. Korea plan on FX diversification not new-c.bank


    SEOUL, Feb 23 (Reuters) - South Korea's plan to diversify its foreign exchange reserves, Asia's fourth largest, is not a new idea and the central bank may hold a press conference on the issue, BOK Assistant Governor Rhee Yeung-kyun said on Wednesday.,,


    "The central bank is considering holding a press conference during the morning to clarify its stance on forex reserves after volatile moves in the overseas markets," he added.


    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
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    Man muss nur die Nerven bewahren !

  • A fellow Café member had it nailed last evening:


    Is this double speak or what? What the heck does the word "diversify" mean then? They may not be selling dollars outright, but they sure as hell are not going to be buying as many. If that is not what this means, then the entire announcement is totally meaningless.


    Someone sure as hell got to these guys in a hurry. I wonder what we have over them? Maybe the threat was that we would pull out completely from S. Korea militarily and leave them to the tender mercies of N. Korea.


    The more I see this kind of stuff, the more disgusted and cynical I become.
    Dan


    As the evening wore on the exculpatory comments from Asia grew more shrill:


    S.Korea BOK: Reserves plan not meant to sell dlr
    SEOUL, Feb 23 (Reuters) - South Korea's plan to diversify its foreign exchange reserves does not mean that the Bank of Korea would convert dollars into other currencies, the central bank said on Wednesday.


    The central bank also said in a brief statement it would not change its foreign exchange reserve ratios based on short-term market factors…


    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • 05:15 Follow-up: Japan's Ministry of Finance says has no plans to reduce U.S. dollar holdings
    Korea and Japan have all announced they do not plan to reduce U.S. currency holdings, while Taiwan said it has not been selling U.S. dollars.
    * * * * *


    The comments out of Asia arrested the dollar’s fall and it rose slightly. All eyes were to be on the CPI number this morning. After such stunning inflation events of the past week, a surge in the consumer inflation number could be a nail in the coffin for the low interest rate picture in the US for some time. Orwellians to the rescue again and right on cue:


    08:30 Jan. CPI reported 0.1% vs. consensus 0.2%; ex-Food & Energy reported 0.2% vs. consensus 0.2%
    Prior total CPI revised to 0.0%; ex-Food & Energy unrevised at 0.2%.

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • Abracadabra, it was benign. The dollar then took off in recovery mode after yesterday’s drubbing. Good to know energy prices are giving the US consumer relief. No sense going here too much more. Been there, done that often enough. You have to wonder though how much of what we receive out of Washington and New York isn’t mere propaganda these days? More appropriately, it is hard to believe almost anything emanating out of their camp.


    The gold price action? Like clockwork! Yesterday, there was reasoned enthusiasm in most quarters because of the extent of the move. I was rather disgusted based on what I saw. Same drill. The market was capped in the most aggressive manner by the crooks. The one surprise was the after-market when gold rallied as much as $1.50. I pondered how long that would last, as The Gold Cartel NEVER allows gold to rally in the evening following a substantial "limit-up" move the day before.


    Didn’t have to wait long for the answer. Soon after Asia opened, gold was 20 cents lower and it was downhill from there on in. The farce goes on.


    Soon as the dollar took off, the cabal forces let into gold as planned. The joke of it is that the commodity inflation news of the day before was thrown out the window in today’s early going. It became irrelevant in this rigged market. This is a perfect example of how The Gold Cartel USES THE DOLLAR ACTION to manipulate the price of gold and also keep it in check re other currencies and to minimize any sort of world-wide investment enthusiasm.

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • This is where I differ a bit from many other market pundits. Most say the price of gold is directly related to dollar weakness. My market watching experience has revealed somewhat of a different fact of life. The Gold Cartel uses the dollar action to keep the upward action of the price of gold as managed as possible. They cap gold on dollar weakness and the attack it on dollar strength. If this were not the case, we would not have the $6 Rule. Yes, gold might correct on dollar strength, however, it would come after a $14 rally, not a $6 or $7 one. This is how gold has traded for years. It could not be more obvious.


    If the Korean clarification and bogus CPI news were not phony enough, the Orwellians even trotted out Charlie McCarthy Snow to chime in. A Dow Jones blurb just out:

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
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    Man muss nur die Nerven bewahren !

  • *DJ US Snow: US 4Q GDP May Be Revised Up On Strong Exports


    OK Charlie, sure.


    Oh yes, this is a gold column. One big predicable snore for gold right out of the gate. I can barely recall a day when gold was limit up ($6 Rule) and was allowed to follow through in any meaningful way the following trading session. Thus, the early trading today was like a broken record, or chipped disk.


    Around mid-day gold and silver caught some solid bids. Morgan Stanley was an aggressive and lonely buyer of gold and silver after the initial/traditional battering. MS found some company when:


    *The gold open interest came out revealing an increase of ONLY 4,351 contacts to 267,860. It could easily have been a 12,000 increase. This leaves room for many more specs to enter the buying fray.


    *The dollar began to weaken.


    *The CRB, after yesterday’s surge to 23-year highs, failed to back off and went on to make new highs, closing at 299.16, up 1.50. Soaring coffe, up 6.5 cents, led the way.


    The silver slaughter today was a classic. After all we have an option expiry. The house shorts were not about to allow a bunch of honest speculators to take too much of their money from them; the silver price has really soared the past couple of weeks. At least they would minimize their recent drubbing on the day which counts the most as far as options are concerned. The $7.50 strike price had the largest open spec option position.


    The silver open interest was more dramatic as it increased to 102,103, up 3,898 contacts. The in the know friends of the cabal were smacking their lips waiting for today’s orchestrated early stuff job by piling into the short side of silver as gold was rallying. This is why the silver action yesterday was so dismal. What a lousy state of affairs.

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • The John Brimelow Report


    Enter the Funds?


    Tuesday, February 23, 2005


    Indian ex-duty premiums: AM $$5.99, PM $5.86, with world gold at $433.50 and $433.25. Adequate for legal imports. Quite a respectable performance, considering that world gold was $6 above yesterday on the opening – also at the highest this year.


    Yen gold in Japan also saw the year’s high today, and the Japanese response was apparently to sell. Volume jumped 97% to the equivalent of 31,748 Comex lots, and open interest dropped the equivalent of 4,055 Comex – 12.6 tonnes. The active contract closed up 17 yen, but world gold slipped 35c. (NY yesterday traded 72,321 contracts, a telling 31% above the estimate. Open interest rose 4,351 contracts – 13.5 tonnes.)


    Tuesday was an unusual day in that gold rose smoothly from the opening in Asia to the NY close. Resistance was encountered from the usual quarter – ScotiaMocatta:


    "Gold opened in New York around the 433.00 level and found good two way business with dealers on the sell side and funds generally buying. At one point dealers forced gold as low as 431.20/431.70 but further dollar weakness eventually brought about more gold buying.", but the shock of the dollar slump and the surge in so many other commodities no doubt shook the sellers’ nerve.


    Given the sizable $7.40 rise in April gold, the open interest increase might be thought modest: doubtless it masked considerable short covering. The fact that the liquidation in Japan was so large means that the speculative community in aggregate has burned off little ammunition. Comex, based on last year’s experience, could add over 400 tonnes of buying.


    The heavy ACCESS volume on Monday night as well as last night (6,840 lots) strongly suggests the entry of US Funds on the long side, which is what one deduced from The Gartman Letter’s enthusiasm yesterday too. Gartman himself very unusually turned up in the Bloomberg final comments on gold:


    "The announcement from South Korea will ``give cover to other central banks that wish to follow,'' said Dennis Gartman, an economist and editor of the Suffolk, Virginia-based Gartman Letter, a financial newsletter. ``It adds confusion and disconcertion for the dollar, and that breeds support for gold.'' ." doubtless the result of a whisper from a client/friend.


    TGL is in fact commendably calm in the face of the well-orchestrated rubbishing of yesterday’s FX Reserve reallocation story by a procession of Central Banks today:


    "…gold has settled back toward $434/oz, and it may chose to consolidate just below those highs for a day or two…Given the massive gaps to the upside enjoyed by Newmont, Barrick and others yesterday, we'd not be surprised to see those shares trade very quietly lower today…Those who did not add to their gold positions yesterday should do


    so this morning on this very modest correction."


    In fact he has reverted to the interpretation of the Gold/Oil spread he had last November, having interpreted it as Oil-negative more recently:


    "Gold now seems inordinately "cheap" relative to crude, and were we a Middle


    Eastern potentate, we'd be "swapping" our reserve of crude for reserves of gold rather aggressively at these level!.


    JB

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • CARTEL CAPITULATION WATCH


    More on the CPI and other US economic news:


    WASHINGTON (Reuters) - Consumer prices inched up just 0.1 percent in January as energy prices tumbled sharply for the second straight month, according to a report on Wednesday that may help quell recent anxiety on inflation.


    Excluding volatile food and energy costs, the Consumer Price Index, a widely used inflation gauge, rose 0.2 percent for a fourth straight month in January, the Labor Department said.


    Wall Street economists had expected a 0.2 percent rise in the CPI, both overall and excluding food and energy, but traders had been bracing for the possibility of larger gains after a report on Friday showed a big pickup in core producer prices.


    -END-


    07:50 UBS chain store sales (0.1%) in 2/19 week vs. +0.1% in prior week
    * * * * *


    14:00 FOMC minutes for Feb 1-2 meeting indicate policy makers still felt funds rate target was too low
    * * * * *
    14:04 Follow-up: FOMC minutes
    At the Feb 1-2 meeting, policy makers continued to believe that the funds rate was too low to sustain stable prices; here is the operative passage: "A higher nominal federal funds rate was seen as needed to contain risks of increased cost and price pressures, but even with this action, the real federal funds rate was generally seen as remaining below levels that might reasonably be associated with maintaining a stable inflation rate over the medium run. The pace of policy moves at upcoming meetings, however, would depend on incoming data."
    * * * * *



    09:07 PPG announces price increases
    The company announced that it is raising prices effective 3/15 for all liquid, electrode position and powder products in North America for the general industrial, coil-and-extrusion and wood segments.
    * * * * *

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • The Fannie Mae troubles continue to linger:


    Fannie says regulator finds new accounting issues


    WASHINGTON, Feb 23 (Reuters) - Fannie Mae on Wednesday said its federal regulator has identified several accounting and internal control issues and raised new questions about the mortgage funder's accounting in an ongoing probe.


    Fannie said its regulator has identified policies that appear inconsistent with generally accepted accounting principles and internal control deficiencies that the agency believes may raise safety and soundness concerns.


    The accounting issues raised by the regulator include securities accounting, loan accounting consolidations and practices to smooth certain income and expense amounts.


    The regulator, the Office of Federal Housing Enterprise Oversight, also identified new developments related to FAS-91 -- an accounting standard for nonrefundable fees and costs associated with originating or acquiring loans.,,


    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • MIDAS and others in our camp are not the only Cassandras out there:


    Former Fed Chairman Paul Volcker said this at a recent conference, held at the Stanford Institute for Economic Policy Research:


    "Below the favourable surface [of the economy], there are as dangerous and intractable circumstances as I can remember.... Nothing in our experience is comparable…But no one is willing to understand [this] and do anything about it…"
    "We are consuming… about six per cent more than we are producing. What holds the world together is a massive flow of capital from abroad… it’s what feeds our consumption binge... the United States economy is growing on the savings of the poor… A big adjustment will inevitably become necessary, long before the social security surpluses disappear and the deficit explodes."
    "We are skating on increasingly thin ice."
    -END-


    For more on the Volker speech:
    As the keynote speaker at Stanford Institute for Economic Policy Research
    Windows Mediaplayer version
    http://vodwins.stanford.edu/sns/0502/volcker.asx
    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

    Einmal editiert, zuletzt von Schwabenpfeil ()

  • More caution:
    U.S. manufacturers more cautious in 4Q outlooks


    NEW YORK, Feb 23 (Reuters) - Industrial manufacturers were more cautious about their outlook in the fourth quarter, scaling back revenue forecasts and capital investment plans from the prior quarter, according to the PricewaterhouseCoopers Manufacturing Barometer released on Wednesday.


    While executives at large manufacturers interviewed for the Barometer were more optimistic about the U.S. economy than the average of executives in all sectors, they were also more concerned about competition from foreign producers, oil and energy prices, currency fluctuations and decreasing profitability than their peers.


    Earlier this month, the Philadelphia Fed survey -- often used to gauge the overall state of factories nationwide -- showed a rise in factory activity and suggested stronger new orders and shipments, supporting the executives' optimism about the U.S. economy…


    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • From Houston’s Dan Norcini on what just transpired in the markets:


    Bill:
    The entire gain of yesterday in both the Canadian Dollar and the Australian Dollar, has been completely wiped out plus some. The Yen is working on giving back the entire gain as well. The Euro is holding up a bit better due to the action on the crosses but nonetheless has surrendered more than half its gains as I write this; same holds true for Swissie.


    It is "normal" for a bit of profit taking to surface after a move of that size in the dollar that we had yesterday but it is not 'normal" for the entire move to disappear. I saw this happening last night and knew something was taking place that reeked of dishonesty based on the price action alone as I have been around this game too long not to know when something funny is up.


    When those two stories came out about the S. Koreans backpedaling on their announcement to diversify their reserves only to be followed up by the Japanese frantically running to a microphone to announce that they had NO INTENTION of selling dollars or diversifying their reserves out of dollars and into euros or anything else, the FIX was in.


    As I said last night in our communication; someone got a phone call from a well placed individual and was told to get to a microphone or else.


    Then, this morning, we get a CONSTANT Price Index which defies any rational explanation.


    The CRB makes a 23 year high and there is not a whiff of inflation in the air according to our masters of deceit at the Labor Department.


    To add insult to injury we are informed that housing cost rose a mere 0.1 percent!


    "Don't believe what your eyes tell you, O peasants. We your lords and masters have decreed that all is well"


    Ironically, prior to the release of the index, the market chatter was that a strong number indicating inflation pressures would actually serve to benefit the dollar since it would force the Fed to hike rates more aggressively and thus generate a higher rate of return on dollar based investments (while this is pure idiocy I have learned that the idiots can do great damage to one's trading account until sanity is restored). Then we get a "tame" number which would have us believe that inflation is an endangered species which has been all but wiped out, and what do we see the dollar do---- drop further? Of course not! ...... It rallies!


    Result - bond hemorrhage stemmed; dollar drop stemmed; gold rise stemmed; silver rise stemmed; Dow index drop stemmed.


    What glorious saviors we have!


    If I don't stop here, I might say more than I should!
    Dan

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • Interesting:


    Dear Bill,
    I have been having some fun with the U.S. National debt today. From another Gold’s web site, the U.S. national debt is $7,689,935,780,269.27 as of February 18, 2005. On September 30, 2004, the debt total was $7,379,052,696,330.32 for a total increase of $310,883,083,938.95 over the 141 day period. Extrapolating this number for the 365 day year, this works out to an annual debt increase of $804,768,266,934. This works out to a 10.9061% annual increase in the national debt. This rate of increase is not sustainable. To put this in perspective, if Christopher Columbus had lent the new world 1 troy ounce of gold in 1492 and had charged this amount of interest, the total debt at present would be 1.1539x10 E23 troy ounces. This represents 3,956,385,089,000,000,000 tons of gold. The total mass of earth’s moon is 2.363x10E24 troy ounce. The writers of the bible 3000 years ago understood this. Andrew Jackson understood this 200 years ago. Other than Ron Paul; our present Congressmen, Supreme Court Justice’s, President, and his Staff either do not comprehend or do not care what the banking cartel and its fiat money are doing to our nation. Gold and Silver is not inflatable and thus will preserve wealth against this inflation. I hope this information is useful to you, and if you think your readers would benefit, please share it with them. I would also like to thank you and Chris for the Le Metropole Café and your daily articles. –Bryant Blake

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • Gold news:


    Gold jewellery sales up 19pc
    Posted: Tuesday, February 22, 2005


    Dubai


    Worldwide gold jewellery sales rose by 19 per cent to about $60 billion last year, reversing six straight years of decline, a World Gold Council (WGC) official said.


    Philip Olden, managing director for marketing and jewellery at WGC, also said on the sidelines of a conference in Dubai that a report by the council due out on Thursday would show that sales volume grew six percent last year.


    He said 2004 was the first year that gold jewellery sales had increased since 1997.-Reuters


    NEW DELHI, Feb 23 (Reuters) - Indian gold dealers urged the government on Wednesday to cut customs duties on the yellow metal and silver in the federal budget to make bullion trade attractive.
    India, the world's largest gold importer, buys an average of more than a tonne of gold a day to meet two-thirds of its annual gold needs of 600 to 700 tonnes.
    Gold jewellery forms an important part of Hindu marriages as parents give the metal to their daughters for financial security. The wedding season accounts for at least 60 percent of its annual bullion use.
    "The gold trade is expecting some rationalisation in the duty structure in the budget," said Daman Prakash, a top bullion official with south India-based MNC Pvt Ltd.
    Finance Minister Palaniappan Chidambaram is scheduled to present to parliament on Feb. 28 the federal budget for the financial year beginning in April. Prakash said the government charges a customs duty of 100 rupees on gold TT bars (116.640 grams) that have a refiner serial number. Gold imported in any other form attracts a levy of 250 rupees per 10 grams.
    Traders said the government had imposed the differential duty structure to check illegal imports as bars with a serial number could be traced.
    Harmesh Arora, a Bombay-based bullion dealer, said the government should encourage refining of gold by allowing imports of raw gold.
    "We should do the value addition here rather than buying refined gold."
    India does not permit imports of raw gold.
    Dealers said trade was also expecting some clarity on the government's policy on whether any jewellery manufacturer can import gold.
    Just more than a dozen banks and government trading houses in India are allowed to import gold for traders and jewellers. The government has said it will permit individuals to import directly but no action has been taken so far. Rajiv Popley, a leading Bombay-based importer, said the government should reduce the import duty on jewellery by at least 5 percentage points from 20 percent because of growing demand for designer and 22-carat jewellery.
    "We buy jewellery mainly from Italy and Singapore for which the demand is growing at the rate of 20 percent per annum," he said.
    "If the government reduces duty, it will increase demand further and more companies from abroad will be attracted to set up shops in India."
    Dealers said trade in silver was growing and the government should cut by half the current import duty of 500 rupees per kg of silver to encourage its use.
    India annually imports about 4,000 tonnes of silver mainly from China, Russia and Mexico.


    -END-

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • Rhody on leaseing:


    'Morning Bill:
    Gold and silver lease rates are rising again. (They have been gradually rising since the 8th or 9th of February in both metals, but today we had a general firming, particularly in the near term rates) The monetary authorities are using leased metal to control the prices. These rates are still low, but you know my take on this is that the monetary authorities are holding rates down to facilitate the dumping of metal on the spot market. Lease contracts are then held in central bank vaults where they are counted as "good as gold" and no decline in reserves is registered. Gold lease rates are somewhat elevated in the near terms giving a flattened rate curve, a pattern that has persisted for the better part of a month. Silver's rate curve is more normal or "steep". I expect the near terms in silver to rise to mimic the pattern we now see in gold. The one month rates for both metals got quite close at .12% for gold and .15% for silver. Gold one month lease rates have been as low as .02 as recently as last November. The "spread" between one month gold rates and one year gold rates is typically 1 to 2% and has been as high as 4 or 5% on spikes. It is now .1%. The spread is being squeezed as mines get out of their hedges and commercial borrowers withdraw from the lease market as too dangerous. Leasing is dying.
    http://www.kitco.com/market/lfrate.html


    Woops, update is necessary on lease rates. Gold just went into backwardation, all the way out to the 6 month term by jumping .02%


    There is some serious leasing being done to hold the line on gold here.


    Silver's rate curve flattened as the near term remained unchanged, while the two and three month terms decreased somewhat.


    The long and the short of it is gold's spread just got squeezed tighter to


    .05 between one month and one year rates. Rhody
    http://www.kitco.com/market/lfrate.html

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

  • 07:10 GG GG upgraded to sector perform from underperform at CIBC (13.99)
    Cites attractive attributes such as low costs and a growth profile over the next three years.
    * * * * *


    We know the general investing public has no interest in the gold shares. Neither do many of the traditional gold shares investors. Many have fled to chase natural resource stocks, such as uranium, which have been on fire of late, according to a highly regarded broker in Vancouver who called this morning. This, among other factors, accounts for the crummy precious metals share action these days, especially among the smaller golds. Most rallies are dumped by anxious stale longs.


    Today was almost a spectacular gold day, but not quite. Gold held $430 support perfectly in classic fashion and reversed to the upside on the day, going up $1.30 at its best levels. At the time I mentioned to colleagues, if gold could close a buck or two a higher, it would be MOST impressive and a serious change of the trading pattern. We needed it to close with some serious oomph. The euro gold price was charging ahead, making a new recovery high of close of 329.25 (before settling back to 328.85 on the gold close). The CRB went positive as oil held yesterday’s sharp gains. Gold was doing the right things for the right reasons. Enter Gold Cartel to knock gold back and stifle some serious excitement. Par for the course. Orders from the cabal high command were carried out again.


    However, silver did rally 16 cents off its orchestrated mangling and gold did close higher. That, in and of itself, is a change in the precious metal's trading pattern of the last few years; is nice to see; and puts the gold and silver shorts on notice.


    Gold and silver are going MUCH higher.


    GATA BE IN IT TO WIN IT!


    MIDAS

    Die Börse ist wie ein Paternoster. Es ist ungefährlich,
    durch den Keller zu fahren.


    Man muss nur die Nerven bewahren !

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