Where Are Gold Prices Going?
I take a long view of precious metals investing and find little meaning in the day-to-day fluctuations in the market. Major corrections—like those we’ve endured this year—are a different story. They clearly have an impact, leaving investors either anxious about their portfolios or excited about the new buying opportunity.
Good question Bobby!
Well, what’s the goal? For the state: to become de facto reserve currency & secure a claim on enough natural resources to sustain growth and preserve stability for a couple of decades? I think that would require more than the US has currently. They’ve said 6000 tonnes around now and 10,000 by 2019:
http://www.globalresearch.ca/china-builds-up-its-official-gold-reserves-promotes-yuan-as-a-global-currency/5311720
Jim RIckards thinks they’ll reach 5,000 & announce it next year:
http://www.arabianmoney.net/gold-silver/2013/07/27/china-to-report-gold-reserves-of-5000-tonnes-next-year-says-jim-rickards/
(Why April? IDK!)
But private individuals in China could become much bigger buyers if their current major store of wealth of the middle classes, the housing market gets its (well deserved) comeuppance &/ there’s a loss of confidence in the banking sector.
True xlurkr, but I don’t see that happening soon.
Where are gold prices going?
It’s Friday, today. Do you really have to ask?
Repeat after me. On Friday, nine times out of ten they go DOWN.
jameske left a great link to this: http://www.equedia.com/why-the-tsx-venture-is-failing/ on doc’s thread. Explains where the price of the TSX.V will go if they don’t shake the crooks out of the brokerage houses. No shorting, no warrants. I should start a website called noshortingnowarrants.com (;-)
Dan
That comment I have to agree with, Dan
Nine times our of ten they go down!
Okay Professor.
I just repeated it in the waiting room of Bellingham Int’l.
People probably think I am crazy!
I just noted that the point & figure chart for the $ had a price reversal Oct 1 with a price objective of 75 $USD. Wonder what that means to the algorithm guys.
Keep the down is up and black is white line of BS going on the msm and uh… short gold more… yeah.
Dan
Hey Al There has been a lot of discussion regarding gold/silver manipulation yet I can not recall ever hearing ANY CEO of a big gold or silver company comment on this either for or against. They are in a good position to know if there is manipulated and who’s actually doing it. As a group they have an obligation to their share holders to protect the industry and at the very least expose and try to stop the obvious price suppression from continuing.
Al, you and your guests know some of these guys, isn’t time we at least ask them point blank what their position on this is?
Consider it done RGT
RGT
Your right about ask the CEOs.
Kinda funny actualy, Ed Steer of Casey Research has been screaming the miners are in on it and refuse to protect their share holders. He refuses to own goldshares because of it.
This manipulation has been PUBLIC KNOWLEDGE since 1934,
it was reiterated in 1964(about) by President Lyndon Johnston in a PUBLIC SPEECH.
How all the gurus never seem to mention it or wonder if it exists is really beyond me.
At least since 2009, thats as long as I have been around.
Anyway, its not illegal, its done to protect the world reserve currency in an attempt to keep things running smooth. At least thats what we are told, obviously it is used to fleece sheep. I mean, could it ever have been for another reason? It was implimented by the federal reserve after all.
Anyway, we have to remember just how crooked the game is and play accordingly and the mining companies are part of the game, to say they are not is niave, if they didnt want to be part of the corruption they wouldnt be mining, they would wait until it had been dealt with.
If they are just discovering it, (which is no way I would believe that) then why. as good men, are they not doing somthing about it?
Barrick by the way is up to their eyeballs in it.
Cant remember how I found that out but I did.
Yes, maybe the Government/Fed is attacking gold and manipulating EVERYTHING to shore up the dollar but maybe Government/Fed should be going after the banksters who have destroyed the financial system and are now profiting handsomely from their handy work. The world is watching this corruption and 99% of the west will end up paying for it!!
Your absolutley right RGT.
Except, the Federal Reseve OWNS the polititians.
Its the system we have been living under since Woodrow Wilon 1913, he realised after he did it, or so he said, but what he did was throw everything the war of independance was about.
From there, the Fed just continued and continues to grow, oil pharma the military industrial complex is all part of it now.
The system keeps everyone in debt, which is why some people call it “debt slavery”, meaning its cheaper to own slaves that care for themselves believing they are free than it is to use whips and cover the costs of slave ownership.
THE WHOLE system needs to change, that is why I constantly have been saying that the corruption in the markets needs to be spoken of “matter of fact”
Some people have hope that the next crash will help fix things, WRONG<WRONG WRONG, thats what the Federal Reserve does, its their Modus Operandi
It is done to fleece the people, and the people will continue being fleeced and enslaved utill they figure it out.
Thats why gold is not taught at university economics, thats why so much emphasis is put on religion, football and american idol or whatever it is this week.
It goes deep, very very deep.
The Federal Reserve has GOT to go, that is if people want liberty, but the last vote in the U.S. said they dont, so who the heck knows.
Own gold.
“Through clever and constant application of propaganda, people can be made to see paradise as hell, and also the other way round, to consider the most wretched sort of life as paradise.”
-Adolf Hitler
Got it from 321 gold
The power of the media!
Brilliant quote bb. I’ve long maintained that given some of the ‘saints’ I’ve known I long to go to the other place!!
A bit of a rant?
Oh well, I wanted to add, its not just north american miners that are complicit in the manipulation, its also Australian african etc.
The federal reserve tentacles are long.
Yup I am a conspiricy guy, I dont believe in magic bullets or boxcutters. lol
Hey RGT, I am with you all the way. We should be seeking out in all areas answers to these questions.,
RGT,
I see nothing wrong with your suggestion about asking the CEOs their position on manipulation, (you knew it was coming) But these CEOs are in charge of mining companies, not stockbrokers. They may have good knowledge of geological structures or of the law, since many have a background in such, but, in my opinion, few understand the stock-market or they would never accept issuing warrants on advice from brokers, when raising new money. Good CEOs that align themselves with shareholders probably make up less than 10% of mining CEOs. The rest are shills, flim-flam artists or just not very bright.
I agree. Many probably don’t even understand gold as an asset.
Matthew,
That is probably…..true….wow “absurd”…Isnt it!
I would like to think that my friends do not fall into the lattet category!
All the more reason for asking Al!
I really endorse reading of:
http://www.equedia.com/why-the-tsx-venture-is-failing/
as cited above.
This is part of just the tip of the iceberg, of hoe the “little guy” investor is being taken to the cleaners. There were several major discussions over at financialsense.com about broker shorting in connection with warrants issuance about 3 years ago, (a search on their web-site will probably find them) and just like the so-called CTFC investigation, I have seen no reforms or regulations forthcoming to help anyone other than banksters and their broker buddies. The sheep are being regularly fleeced.
Front page article in today’s WSJ.
But, what the heck, thst is absolutely nothing new!
Error: hoe ….. should be “how” above
I really endorse reinstatement of the up-tick rule.
This would be a circuit breaker for continuous naked shorting.
Don’t forget the stocks!
Currently the collective price-to-earnings ratio of the HUI was 11.6x as of the end of Q1 , i.e. April 2013 (Latest data available). Now gold stocks are not usually known to be value plays, but this low P/E ratio represents the cheapest these stocks have been in my lifetime. It is well less than half their average P/E ratio over the last half-dozen years, and with the general stock market rising, gold stocks have nearly half the current collective P/E ratio of the S&P 500 ( approx 21.0x). Clearly, gold stocks are currently value plays!
2 cents.
Big al,
What do you think of THM @ .30 now? Is this an opportunity or done for good?
J am done. Still own a few shares and when I sell I will first announce it.
China is the demand driver at this time, when they finish buying someone else will have to support the price. How much more gold do they need to accomplish their goal?