Lest mal meine vorhergehenden Beitraege, It looks I was right again.
Ausserdem muss man neben seinen Gefuehl auch Sinclair und Bill Murphy lesen, die kennen sich aus und haben ihre Leser selten in den Wald geschickt.
Passt mal auf was die PM Aktien heute machen.
Wer schlau war hat am Montag eingekauft, das war der Tag zum shoppen ,IMO....... ich freue mich nun ueber den heutigen PoG. ![:]](https://goldseiten-forum.com/wcf/images/smilies/pleased.gif "Freude")
Sorry, aber wer verkauft hat in den letzten drei Tage ist selber Schuld.
Man hat ihn reingelegt !
Gruss
Eldo
GO GATA!
At one point this morning, this was to be my MIDAS headline:
The Gold Cartel Should Be Put in Jail And The Key Thrown Away
After yesterday’s traumatic drubbing, the early trading on the Comex was classic … as margin calls had to be met … and woozy longs thought twice about staying that way. Thus gold went from $2 and change higher to 70 cents lower minutes before the opening, paving the way for more nervous liquidation.
Then a mini-bomb hit for that very same Gold Cartel and gold shorts. Yesterday’s news was dollar and interest rate bearish, not the sort of news to bury a so-called bubble … at least as far as the gold pundit world should be concerned. Yesterday’s move down was orchestrated by an increasingly worried Orwellian banking crowd … one which extends outside the US to England.
So today the whammy for this crowd increased with a surprisingly poor US housing number and a soaring inflation number:
08:30 Apr Housing Starts reported 1.849M vs. consensus 1.95M; Building Permits 1.984M vs. consensus 2.04M
Prior Starts revised to 1.996M from 1.96M; prior Permits revised to 2.097M from 2.06M.
* * * * *
08:30 Apr PPI reported 0.9% vs. consensus 0.8%; ex-Food & Energy 0.1% vs. consensus 0.2%
Prior PPI unrevised from 0.5%; ex-Food & Energy unrevised from 0.1%.
* * * * *
The dollar weakened slightly on the news (euro rallying 25 points), but the biggest impact was on gold and silver which firmed up immediately in fast market conditions.
What we have here:
*Generally accepted concern over a US housing market which has begun to fall out of bed. There is nothing more illiquid an investment than a home in a falling price environment … at least as far as getting the price the seller believes is warranted. The first phase of a housing market downdraft is usually benign … and the seller can live with a little disappointment. However, when the prices continue to sink and the availability of homes grows, a certain amount of panic and serious disappointment sets in. This will be especially prevalent this go around because many Americans took advantage of adjustable rate mortgages and only put down 10 or 20%. If US interest rates continue to rise as prices shrink, it will freak a number of homeowners out as their primary investment goes underwater.
*Both these homeowners and all Americans are faced with growing inflation, the one which really counts. The silliest Planet Wall Street stuff is to listen to their economist propagandists point to the US core inflation number, as the real number soars. It is really beyond silly because day after day we hear about Americans lamenting the high energy costs … lamenting so much it rivals their concerns over the Iraq War. That being the case, how can the Planet Wall Street crowd continue to crow over the benign inflation numbers in the US? It is ludicrous and this hypocritical rah-rah Wall Street rant has grown very weak … and is not holding much water these days … certainly not with the general public.
*Thus, the Fed has to be concerned about the deteriorating housing situation in the US, while having to deal with a REAL growing inflation problem. They are between a rock and a hard place … as well as between Iraq and a hard place.
*As for gold, you have:
A surging yearly supply demand deficit of greater than 1500 tones per year … with mine supply on the wane around the world.
An enormous, and unprecedented, short position of many thousands of tones. This short position is underwater by $300 per ounce and more. Many of these shorts are becoming increasingly desperate.
While the demand for physical gold is surging, the shorts are doing what they can to cover. Their problem is they are all competing against one another … they being the hedgers, Gold Cartel bullion bankers, and writers of options over the years. That is impossible at these low price levels in a market with such an extreme natural supply/demand deficit.
There ought to be an investigation into what The Gold Cartel is doing to the gold shares after what I saw today. Gold was on the upswing when the US stock market opened. The shares came out of the box firm with the HUI rising to 350.50, up over 7 points. However, then gold began to really make a move and shot up over $8. BAM, the shares began to plummet in straight down fashion. It wasn’t long before the HUI was down on the day.
This selling kicked in not long after the PM Fix was concluded … one which revealed aggressive physical market pricing due to surging demand after yesterday’s plunge … which took the gold price up to $692. This is a continual travesty. You are being ripped off by a bunch of bullying crooks who are fighting for their gold financial market lives.
It is now 9:45 CDT and the HUI is down .53 with gold up $6.90.
During this blatant Gold Cartel assault on the gold shares (to calm down increasing excitement over the bullion price recovery) the price of oil dropped from up 35 cents to down 35 cents. A drop in the price of oil is bullish for the gold shares, not bearish!
You have to wonder if an unwarranted drop in the gold shares isn’t like the old Indian smoke signals as a sign The Gold Cartel forces should start leaning on bullion?
The HUI at 10:09 is now down 4.70 and gold is only up $3.40. The Gold Cartel ploy is working for the moment. Meanwhile, the DOW is HIGHER!
The Gold Cartel knows if gold rallies today it will negate their entire effort yesterday, as it will show all those looking at gold how weak the short’s position really is. Since they were having trouble with the physical market this morning, which was devastating their position, they went into Plan B, or sell the shares mode.
Bobelle, herzlichen Dank fuer die ERA.... die hole ich mir sicher.