Tim Iacono – Tue 15 Apr, 2014

The Reuters story on China having 1,000 tonnes of gold tied in financing is not entirely correct

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Tim IaconoAl KorelinCory Fleck

Comments:
  1. On April 15, 2014 at 4:26 pm,
    James (the lesser) says:

    I believe this was the excuse for today’s gold smash

    • On April 15, 2014 at 5:13 pm,
      HEAVYHITTER says:

      See…AL…..James a polite respectful poster.

      Doesn’t go around insulting others and everyone should be respectful in messaging
      him to.

      States his case and polite the whole time. No problems.

      AL….I sent you a message on Bobs first forum. Anyway,
      Andrew was attacked and really insulted. Not sure if you
      saw that. Really, very simple to curb most of any issues
      here to attract quality posters to this forum. Not a big deal.
      The traffic will increase to the site IMVHO.

      • On April 15, 2014 at 5:28 pm,
        original jj says:

        That’s because james is a realist, not a pumper like yourself….anyone mentions a negative towards gold and you call them attackers, insulting others, really…

        Big Al knows full well who I am and my background H, I’m a trader, I can’t afford to trade based on fundamentals, logic or hope!!…its all about Price…..opinions we all have um like Aholes….Price is all that matters because that’s what the MARKET determines its value, not opinion, hype and hope.

        I’ve seen your kind all the way up to $1900 and ALL the way down…one sided, one minded approach, how’s the last two years working for you H, why don’t you leave the calls to those who can read a chart instead of the hot air you blow….gold see’s sub $1180 before it see’s $1500….you keep buying and I’ll stay short making money ready for a bottom, a bottom that an opinion will not be followed but by the action on the chart suggesting resistance has been taken out, something gold has not done since losing $1525 regardless of pumpers like you!

        • On April 15, 2014 at 5:57 pm,
          HEAVYHITTER says:

          The problem….BILLY…JJ…DILLION…NYC and 100 other names you post under

          If your such a great trader, you would be in a professional trading forum.

          I’m in a long term gold investor like the majority here.

          If I was trading frequently, which I have done in the past I wouldn’t be here.

          All your doing here is trading posts. How could you actively be trading
          the markets.

          Again, this a forum mainly consists of long term investors in precious metals.

          ANYWAY BILLY….things change here with some common courtesy
          posting rules your personal attacks, insults demoralizing gold
          investor’s is short lived. I’m no different. All the rules will apply to
          everyone. END. I’m looking forward to a much more respectful forum.

          If not, then I guess you and some others will keep enjoying yourselves.

          I WON’T BE HERE. Thats for sure.

          • On April 15, 2014 at 6:15 pm,
            HEAVYHITTER says:

            BTW…Billy…JJ amd all your 100 other names…

            NEVER …EVER ..will I tolerate you…ever again.

            You attacked so many posters in 4 months. …I lost count.

            Your a menace and one of the most disrespectful people
            I have ever encountered.

            Enjoy yourself.

          • On April 15, 2014 at 8:00 pm,
            original jj says:

            Wow! what a complete nut job!!…..gold sure brings out the insanity in people

          • On April 15, 2014 at 8:37 pm,
            HEAVYHITTER says:

            Good bye ….Billy boy ..JJ….NYC…DILLION & your 100 other names.

            I’ve had enough out of you…. to last 10 lifetimes.

  2. On April 15, 2014 at 5:04 pm,
    Eric says:

    I guess I am a ‘glass half full’ guy, when it comes to precious metals. I look at the perfect storm they tried to create with the news items and the reiteration of Goldman’s bearish call and where did it get them? Gold finished well off its low and above 1300.

    When it comes to China — I have mentioned this in the past, but worth repeating — they have become the world’s largest domestic miner of gold. Every ounce of it is deposited into their reserves.

    But here is the important part… a number of observers suggest that the Chinese cost of production is above $2000 per ounce and may be north of $2500 per ounce. This SINGLE data point is the best possible evidence you can have regarding the Chinese appetite for gold, as well as, their URGENCY.

    I am willing to bet with the Chinese.

    So, as for me…
    I am getting ready to add to physical silver and would add to physical gold holdings if we get the washout that some are predicting, south of $1200.

    Happily holding a diversified group of mining stocks (approximately 90% long right now in the trading account, with 10% cash). As I look through the charts, there are some that have had significant retracements of this year’s gains, such as Allied Nevada and Kinross.

    But by and large, most are still holding on to the bulk of their gains. As a little experiment, I went through a lot of the individual stock charts this afternoon and tried looking at them from the perspective of stock ‘xyz’ rather than as a holding within the mining sector.

    In each case, I asked myself, if someone presented this chart to me without the name of the stock, how would I characterize the current price action. In most cases, not only are they failing to point to impending implosions or capitulations, but most of them still appear to be in intermediate uptrends.

    Still don’t see much to worry about here. They are trying to do their best to shake the tree, but with more limited results that advertised.

    Have a good night!

    • On April 15, 2014 at 5:19 pm,
      HEAVYHITTER says:

      Here’s another great respectful post from Eric.

      A quality here we need and to attract others like him.

      Sorry AL and Eric….just trying to point some things out.

  3. On April 16, 2014 at 2:56 am,
    Skeeta. says:

    I guess gold must have already hit 2000 smacka’s an ounce already

    …LOL.