So far, after one day anyway, Rick has been spot on.
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This thing won’t just continue Al, at least from Albert Edwards of Societ Generale’s perspective on Kitco, who says gold prices will top $10k with the stock market tanking and Treasury yields going to 1%. All we need now is for Trader Rog to affirm!
Quoting the late Margaret Thatcher ref consensus she said ‘the process of abandoning all beliefs, principles, values and policies in search of something in which no-one believes, but to which no-oe ojects’ is surely never so apt as when applied to QE.
However when asked what did he think of $10k gold Peter Hug on Kitco said ‘I don’t’.
silver up big today……..$1.05……but, it should be, because the ratio of silver to gold,is way out of line…..60 to 1……….should be …54 to 1…..but, that is even out of line..Silver is a better buy ,,,,,Irish has his pickup truck ,backed up,,and loading up…….
Hey, guys, one day at a time. We will see…..but, I did say (check the record :)) that I had a strange feeling that this summer might not be a “sell in May and go away” summer this time. What I do know is…I dont know…but, it would somethin sweet though. That is called a illiteration (sp) for lack of better terms….I think.
The best thing to do is ……………? I am going to take the summer off…..the last time I took ten weeks off,was after I decided to reevaluate life…..and priorities…..This may be the year to do it again……….You know ,,,you only live once………..OOTB
Jerry,
No taking off the blog though…ok, my friend? Where the sam h___ is Irish………BTW, great idea!!!
Marc……IRISH….is with the little people ……I left him in the tunnel….digging his way to the LONDON “BULL IS ON ” EXCHANGE……….
Watch for another ugly gold decline early next week. Just saying. Best be prepared.
Concur.
Healing takes time. Process, not event.
Heaven help me….there are two of us here!
but, it would BE….. BTW, where is CFS?….globetrotting probably.
you guys wore him out while I was gone……I think he is catching up on his suntan….
Golden summer ahead!
James, it could be one of those summers that you never forget………… DT
Beginning to sense the same James
O
Oh?
I hit the wrong button. ha!
One last thing…….I am trying just to keep an eye on the physical market. I really think that this strong evidence of massive physical buying shook up the major players on the manipulative paper comex. Do they want to just hand all the wealth over to anybody and everybody now??? My take is that they are really cornered, concerned and ready to “jump ship”. What else can they do? Knock the market down everytime it gathers momentum…they are in a CLASSIC “BETWEEN A ROCK AND A HARD PLACE”. This spectacular display of physical buying in April 2013 will be looked upon in the future when the ‘worm turned” and G/S started its accent to PROPER PRICE DISCOVERY.
OOPS…sorry not done. Somebody is my reading today had a classic analogy. Look at the gold market as an ICEBERG. It is not the part of the iceberg that you can see visually above water that gets you (comex)….it is the stuff that you cant see visually of the ICEBERG that is the real story (physical buying)….. that wins out in the end and dooms any player not aware of it….SEE TITANIC…..we missed it! NOT.
your best part will be when the sinking occurs….and the only life boat has a hole in the bottom………,but, even, the TITANIC found the bottom………and the riches were there for the taking ,,for a later generation…..ootb
I can’t believe this; we’re two weeks away (Apr 15) from a recent bottom and now it’s “to the moon Alice”? Wasn’t yesterday “gloom despair and agony on me”?
Come on people .. get those meds regulated.
http://www.youtube.com/watch?v=Zgx3TCnIH80
Just one reason why I’m being cautious.
http://i43.tinypic.com/2v26zpg.jpg
Good call, Irwin. Stay cautious. Gold is heading for another decline next week. I am going short today.
Irwin,
HA! Great line!!
Oh darn; just got word from the tax office … I have to pay more. Not sure I can handle all this prosperity; a golden 2013 might do me in.
Gloom, despair & agony is right!
do not worry about the tax…..just file an extra …child care deduction….it seems to work for the illegals….why , not you………….ootb
15 minutes of frivolity from Gordie Tapp age 89.
For those who tinks Saskatchewan is all flat-land, summerfallow, and whirlwinds .. take a look at the background 🙂
http://www.youtube.com/watch?v=DjKVKSip9-s
So when gold goes to 5K this summer, what are you going to do? No profits without selling. So you sell a little bit. What then are you going to buy? Just trying to think ahead.
Whisper it quietly Wayne, otherwise Silver Fox might get to hear!
Well Wayne at 5k gold it might cost quadrupal for food and energy, maybe more, I just dont think there will be any problem finding somthing to spend it on.
Gold is insurance, if the house burned down and the insurance paid off, what ya gonna buy? Sorta the same thing.
On the other hand if silver went from 20 to 200 and gold stayed where it is,
not like that would happen, but if it did, thats winning the lotto.
You can buy Gold at under $500/ounce and not be streaming company.
Buy silver at a 60 plus ag/au ratio.
When ratio compresses 20 trade your silver for gold.
Got my 20oz (4*5oz) silver from Mocatta right away no shortage there.
what sort of premium did they charge?
I havnt seen any shortage, but if these rumors of Russian,Japanese,Indian and Chinese line ups are true, then it shouldnt be too long and all the physical gets bought up and it skyrockets, And with zero available, the prices should go alot higher than old highs. If it doesnt and we get into doldrums, well, its nice to have insurance.
And maybe then metals stocks will go mainstream
What about the big picture, is JPMorgan going to go away, like the shark he is, or is he coming in for seconds, thirds, so on & so forth. It does seem to be they can go where they want to go, when they want & not anybody can or will stop them from dumping more paper gold/silver on this market. Turning it upside down & inside out. Or perhaps JPMorgan just think so, just let them put enough rope out there to hang themselves is what the justice department wants them to think ? We could be so lucky, the gold/silver bugs. Like last week to 10 days ago, it was the battle of the bulge for the screaming eagles(gold bugs), the siege of Bastogne all over again except it was the gold/silver market that was getting crushed. JPMorgan was trying to keep people from finding out what was happening, their futures contracts were coming due for payment, but what to do, there was a short fall for the `physical` gold/silver that was due for those contracts, so they dumped X amounts of tons of paper gold/silver on the market to drop the price and then try to sell the story to their investors that it would be good for them to accept paper cash instead of the physical as payment. ——– When will there be a split between the physical from the paper market. Or it will just happen again and again, etc.,……Just another RANT of what if`s…..
Another thought, I talked to this refinier, if they had a problem with inventory, they said no. But they weren`t into the market that way, ie., except for their customers only. If I want to be paid in a wire transfer, poll account, metal bars, coins credit swiss, johnson-matthey. or just a check. Perhaps having stock in a producing mining company could be an answer to having them extend them(their shareholders)to their refining company to get access to the physical gold/silver. Just a thought.
http://explosivereports.com/2013/01/28/house-of-rothschild-hoarding-gold-in-face-of-coming-collapse/ just see what the other big guy is doing, instead of trying to see where the heard of cattle are going. These big too big too fail, are seeing that their bubble is about to pop.
What If, the gold stocks don’t take off until after the POG goes parabolic and then drops like the last time 30 years or so ago, maybe it might be better to accumulate physical sell at as close to the top as possible, and then buy into your favorite gold equities. DT
No shortage at all for gold as of Thursday. Fridays price action is troublesome.ci was hoping for one more thrust into $1480 but we are falling back. Hope to see a good end to the week to keep the momentum going…
In India they are already refraining from purchases. They love gold but they simply won’t pay over a certain price for it. Supply is returning. Premiums are coming down. Trouble…
Once upon a time I was 20 yrs old…..All that mattered then was girls in tight jeans. Things were a lot simpler then—scored a lot easier too.
Yes those were the good old days–when all it took was a bouquet of freshly picked wild flowers. Back then, it was the thought that counted most. Now you gotta mine um, dine um and shine um–especially if your married; which might explain why there’s so many grumpy old men out there.
Change “mine” to read: wine.
JP Morgan running out of physical gold! Now isn’t that a kick?
BJ….thanks for the post…..I lived in charleston,sc…for four years,and it was a great view for a northern boy….THE OLD SOUTH STILL LIVES…and yankees are not welcome,they are still close knitted,,,and remember northerners as invaders,then and now……………plus the palemento bugs will carry you away,regardless of the price of home you live in…….$1million or more for housing is the norm…..but, way over priced,,,SOUTHERN PRIDE……BUT, I still love CHARLESTON………OOTB
BJ…..MORGAN NEVER HAD ANY GOLD………..just PAPER……, besides where would they have stored their gold…..and how would they have gotten their gold…..has anyone actually seen their gold……..just out of the box thinking……ootb
have a great FRIDAY….and WEEKEND…………..
http://chasvoice.blogspot.com/2013/04/comex-physical-drain-accelerateswith.html COMEX Physical drain accelerates—-With over $7.8 Billion in gold disappearing from all depositories, April 24, 2013.
When large dealers’ bid prices (in relation to spot) are higher than their sale prices premiums were just a couple months ago it is telling.
It’s all gold now! Super strong! The weak hands are out. The late comers have been flushed out. The takedown was short lived and ineffective. Actually it was effective – it backfired in their faces! Gold fever is here!
Well done,Rick! In at 1427 and now it’s 1479. Pretty excellent for a 2 day move.
Have you taken profits yet? Or holding on for more?
I sold my materils 2x etf yesterday after some huge gains from Monday as gold looks like it has topped and will drag all the materials stocks down and it looks that way today. Sell signal yesterday for UYM. Bought back into Cisco on today’s dip as there is a buy signal.
You ain’t seen a fever until you’ve seen a gold fever? Buy! Buy! Buy! The 1970s all over again. This will be the summer of gold!
“First they ignore you, then they laugh at you, then they fight you, then you win”
– Mahatma Gandhi