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     rederob
Member
Username: rederob
Post Number: 1794
Registered: 10-2002Rating: N/A
Votes: 0
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| | Wednesday, May 24, 2006 - 10:33 pm: | 
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C'mon kiddies, d'POG is not kindergarten so can we please get back on topic.
I was pleased to see a bounce today, like most would be.
But the patterns that guide these trends suggests we need more consolidation, so we should not rule out further near term weakness.
If there is a close bond of POG to POO then I can't see us out of the woods for a week, minimum.
I had a good look at the physical gold supply and demand data for the past 3 years, and I can only say that mine supply constraints will keep the upside pressure on POG.
Meanwhile, on the demand side, all key measures are rising year on year.
All this is very good news.
I am not sure how many readers know this, but annual mine supply in recent years cannot meet the needs od jewellery fabricators. So to satisfy industrial, dental and investment demand we are reliant on Central Bank sales, plus individuals selling old gold (jewellery etc) for melting into ingots.
Whether people want to regard "gold as money", or as a form of speculation, the reality is that the fundamentals underpinning its price are quite robust. I have heard some people suggest gold is way overpriced and can't justify its present high price.
Maybe, but if POG dipped back to $400 any time soon there would be a spate of mine closures that would beggar belief - mine operating costs have increased substantially in the past few years and head grades are declining.
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archer
Member
Username: archer
Post Number: 1535
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Thursday, May 25, 2006 - 06:42 pm: |
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Hey Justice
Ill probably get dumped on for the ADB call as well
Funny thing about these forums-you get dumped on more for
being right than being wrong-hahahahah
--
Cave-no matter how much you deny my shorts the money does
not seem to want to leave my account (:->
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justice
Member
Username: justice
Post Number: 612
Registered: 01-2003
Rating: N/A
Votes: 0
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| | Thursday, May 25, 2006 - 07:37 pm: |
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You're a red flag to CC's pit bull.
It's heart warming.
.Ice
... XXXX2 ... :-)
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msparks
Member
Username: msparks
Post Number: 509
Registered: 10-2004
Rating: N/A
Votes: 0
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| | Thursday, May 25, 2006 - 09:02 pm: |
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Just keep making the calls Mr Archer.
I know who is right most of the time and who is right only some of the time 
You must have a truck load like the lotto truck seen on TV 
Who needs funds management when there is an Archer.
Cheers
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archer
Member
Username: archer
Post Number: 1538
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Thursday, May 25, 2006 - 10:13 pm: |
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Cheers Mr msparks
Now back to gold
New highs within 5-6 weeks,whatayareckon
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captain_chaza
Member
Username: captain_chaza
Post Number: 1953
Registered: 02-2003Rating: N/A
Votes: 0
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| | Monday, June 05, 2006 - 08:36 pm: |
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Ahoy Officer Bluey 
Please wake me up when I am rich!
Bon Voyage and Gods' Speed
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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captain_chaza
Member
Username: captain_chaza
Post Number: 1954
Registered: 02-2003Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 03:38 pm: |
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Phew!
I'm glad that's all over AGAIN!
Don't you just hate it when the world goes "Temporarily Crazy" when Novice Yankie sea-cadet Benji puts his foot in his mouth
Salute and Gods' speed
PS I didn't see that coming yesterday OUCH! OUCH!
Everyone saw it this morning but that was TOO LATE!
One of these days I have to learn how to see over the horizon
Only ONE day would be BRILLIANT!
"While we stop and think, we often miss our opportunity." Publilius Syrus, 1st century B.C.
"I believe the future is only the past again, entered through another gate."
Sir Arthur Wing Pinero 1893
"There are two times in a man's life when he should not speculate: When he can't afford it, and when he can." Mark Twain, 1897
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ingot54
Member
Username: ingot54
Post Number: 1545
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 03:47 pm: |
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Captain
The power trip must be very difficult to handle.
He is only the third man in history to remove billions from the nations in one trite moment: Just a loose word or two, and the earth moves for him. Whoah!
No. 1 = Osama been Loaded
No. 2 = Dubya Shrub
No. 3 = Big Mouth Benny
Collectively they have cost the nations of the Earth $5 or $6 here and there (trillions, that is)
Keep Smiling
Trading style :CFD's predominantly long term.
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archer
Member
Username: archer
Post Number: 1544
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 07:58 pm: |
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Bernanke says inflation has spiked up above his comfort range
GEEE who woulda thunk it(:>
"He who has the gold makes the rules"
Find out where the gold is going (;->
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/06/05/cnrussia.xml
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archer
Member
Username: archer
Post Number: 1545
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 08:16 pm: |
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Frightened gold bugs
Commentary: Understanding the psychology of bull markets
http://www.marketwatch.com/News/Story/5j0jB8FdWwFXcbD8LrcWVRQ?siteid=mktw&dist=T NMostRead
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justice
Member
Username: justice
Post Number: 617
Registered: 01-2003
Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 08:57 pm: |
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I rather favour the view in the following article as being the "correct" one.
http://www.safehaven.com/article-5297.htm
Hard hats on.
We're in for a bumpy ride.
... God only knows what I'd be without you ... :-)
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robbo
Member
Username: robbo
Post Number: 42
Registered: 01-2003Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 10:02 pm: |
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I find the article below published on the Financial Sense website of interest.
The CEO of Goldman Sachs has been nominated to replace John Snow as the next Secretary of the Treasury.
I wonder whether the 10 - 15 thousand tonnes of Gold alleged by GATA to have been leased and not returned to the FED might actually be true- would that not throw the cat amongst the pigeons?
Robbo
"Today's WrapUp by Rob Kirby 06.05.2006
TALL TALES OF TWO TRADERS
In case you have not been paying attention, the chart below clearly shows how precious metals have been ‘taking it on the chin’ for the past couple of weeks:
But What’s Really Going On?
With many in the main stream financial press chiming in with views that precious metals and commodities are “bubbles waiting to burst” – it seemed appropriate to examine some of the major undercurrents affecting price movements in precious metals, and gold in particular.
If we are to believe the axiom that actions speak louder than words, we might choose to take note of Goldman Sachs’ growing short position in gold futures on the Tokyo Commodities Exchange [TOCOM] – where we would discover that Goldman is ‘net short’ in excess of 46 thousand contracts, with their entire short position split between the Feb. 07 and April 07 contract. The short position alluded to [above] represents a reduction from well in excess of 50 thousand net short a few weeks ago. Put simply, Goldman has been covering shorts [buying] on TOCOM while the price has been dropping.
After a quick review of Bill Murphy's May 17/06 daily MIDAS commentary we see this:
Goldman Sachs has published an essay on Indian gold demand, which has received notable simultaneous publicity via channels such as Reuters and the Gartman Letter. It advances the familiar argument that rising sophistication and greater financial service availability will dull the Indian public’s appetite for bullion. This argument has been propounded for a number of years by the leading gold bear theorist, Andy Smith formerly of Mitsui and UBS, with no particular validation. Indeed recently there has been anecdotal evidence of a move by the financial elite of India to gold bars, motivated perhaps by skepticism as to the durability of currently high stock market and real estate values in the country.
The passage above reveals that Goldman is actively promoting research that suggests the price of gold will decline. If they really believed this, why would they be covering shorts? Then on May 19, in Adrian Douglas’ contribution to Bill Murphy’s daily MIDAS commentary we learned this:
In the May 18 TOCOM session Goldman Sachs appeared to throw in the towel in trying to break down the price of gold (another bluff perhaps considering their performance on the COMEX today). They covered 3,691 shorts. They achieved this by covering 720 contracts in DEC 06, 4,533 contracts in FEB 07 and going short 1562 contracts in APR 07. Goldman Sachs is LONG in every month up until DEC 06 to the tune of 3,338 contracts. They have NO shorts in any month before DEC 06. They have only 380 shorts remaining in DEC 06. They are short 18,481 contracts in FEB 07 and short 30,558 contracts in APR 07. They have ZERO offsetting longs in 2007. ZIP, NADA!
I find this a rather peculiar portfolio of gold futures for a company that made a press release today predicting a gold price of $800/oz by the end of 2007. So far on the TOCOM for 2007 they do not have a futures contract for one single ounce of gold on the long side! They are short 1,569,248 ounces of gold! [RK emphasis]
Here, Goldman is publicly calling for the price of gold to be “much higher” in 2007 – but we learn that they are short more than 1.5 million ounces of gold for 2007?
Conflicted, Confused or Con Game?
Then today, UBS revealed this:
Russia leading global 'stealth demand' for gold
By Ambrose Evans-Pritchard (Filed: 05/06/2006)
The world's big money brigade is snapping up gold bullion at eight times the rate originally thought, according to a report by UBS, the world's biggest gold trader.
The huge sums entering precious metals below the radar are likely to help to put a floor under the gold price after the dramatic fall of $112 an ounce in late May - the sharpest correction since the bull market began five years ago………….
I would suggest – given the highly political nature of anything associated with gold – that flows of new money into this sector that are eight times the rate originally thought – are and most certainly never were below the radar of either UBS or Goldman Sachs. What I do find utterly reprehensible – is that this information has been KEPT OUT of the mainstream financial press.
I’ve got a sneaking suspicion that much of this is about to change; if so, BUCKLE UP!
If you find any of this confusing, rest assured, you are not alone. The very nature of the conflicted empirical evidence outlined above is the essence of the gold bug’s [GATA] claims that the price of gold is surreptitiously rigged or managed.
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coyotte
Member
Username: coyotte
Post Number: 53
Registered: 12-2002Rating: N/A
Votes: 0
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| | Tuesday, June 06, 2006 - 11:22 pm: |
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interesting monthly log chart of GOLD-ax
as you are probably aware this stock = 1/10th an ounce of the present POG in OZ -- usually spot on -- so good fo T/A
time period -- june 2005 to today
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archer
Member
Username: archer
Post Number: 1547
Registered: 11-2002
Rating: N/A
Votes: 0
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| | Wednesday, June 07, 2006 - 01:43 pm: |
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