Medusa Share Discussion Threads

[nielsc] 07/12/2016 09:04

maximoney,

Might happen as you say.

The stock markets are all bubbling up nicely. A perfect bull trap in the making.

When it starts unraveling gold and silver will be the beneficiaries. The price of gold and silver must be kept at this level so as to not give any signal to investors to reposition their portfolios.

Ask any Cypriots or Indians if they are/were happy to be holding gold when things went pear shaped.

Cheers,
Niels

[adyfc] 07/12/2016 08:00

It's time to jump ship on this. 0.35 is support and it's heading there.

[maximoney1] 06/12/2016 13:47

I'm kinda looking for a $30/$40 drop in Gold by Friday....Earl Grey ;-)

[maximoney1] 06/12/2016 13:42

Chip/nielsc...thats actually a good thing, if they can buy physically backed metals ETF's, but not hold 'paper' derivatives, so there could be some 'diversification' type demand, but could take a year to become 'mainstream'....unless they hit a crisis before then. ;-) (when would you ever get a crisis in the ME...lol)

[chipperfrd] 06/12/2016 13:37

Niels

Yes, same thing happened with our youngsters. We were told that the Arab women considered it Good Luck to touch fair hair. But we were occasionally told off by their husbands for not covering them from the sun!

No Comex Futures are not allowed under the new Shariah law I believe. And quite right too!
Chip

[nielsc] 06/12/2016 13:26

chipperfrd,

Every little helps.

I did read that the COMEX gold isn't on the list.

I remember being in those souks when I was a child. My head would be constantly patted due to me being a very fair haired child.

Cheers,
Niels

[maximoney1] 06/12/2016 11:37

Yes Chip, and i feel things are coming to a head by end of February. 'They' just need to push it down through the $1000 gold to get a blow off spike down. I don't think you will be able to pick up any metal, under the $1000 as it will be a 'flash crash' down for the briefest of timeframes....imo(could it be May declaring a very hard brexit from 1st March or some such). The resumption of the PM bull will then begin again in earnest, with support from the CB's .....just watch them all buy up PM miners through various 'excuses'... falsely labelled QE nomenclature.

After that, the next decade belongs to the bugs :-)

[chipperfrd] 06/12/2016 11:04

Maxi,

Except that the best cure for low prices .... is low prices!

The more the PMs go down, the more that is being bought globally.

The US and the UK are having to compete for the import of PMs in order to fulfill the steady drain from their paper markets. These big tonnages will not be at the paper price - so it's a losing proposition eventually.

The same thing happened back in the 1960's when the London Gold Pool (9 Central Banks) used up a massive amount of their gold reserves to hold the price at $35/oz (the US lost 12,000t!). In the end they failed as premiums soared globally and France pulled out of the pool and demanded gold for USD - that killed it!

It has been far less costly using leveraged Futures to suppress prices, but the loss of actual physical metal and the cost of replacing it in their vaults to maintain some level of credibility is the major weakness in the whole paper ponsi scheme.

China & Russia are exploiting this weakness with a vengeance over gold. But it looks like silver is the real problem for the LBMA & Comex.
Chip

[maximoney1] 06/12/2016 10:26

I suppose this begs the question then....if comex know that demand is skyrocketing, then to fill up the registered 'deliverable' coffers, you would wish to do so at sub $1000 gold price. If they can push the price artificially low enough, before the arbitrage takes over, then we might see inventories take an upward trajectory at the turning point, in preparation???
Might be something to watch for?


Comex chart at bottom

[augustusgloop] 06/12/2016 09:58

chipperfrd6 Dec '16 - 09:36 - 36809 of 36809 0 0

Niels,

Yes, c. 213t of gold delivered (to date) in contract terms.

152.9t gold withdrawn from comex vaults.

254.9t of gold has had to be imported into vaults - presumably at higher physical price!

-----------------

totally clueless!

The dealers own both short contracts and long contracts.

Why would they pay off their long contracts and buy at the higher price on the SGE?????

They just take delivery of the gold on the contracts that they want to be fulfilled.
Absolutely bloody obvious.

If nobody ever took delivery on these contracts -- then how did the mines get shut of all the gold that they produced before the SGE?

And if nobody was provided with gold for their short contracts - where did all the gold that got mined in the last 10 years end up????

He studies and studies this!

Is it possible that he doesn't know the most simple fact of the workings of the market -- some contracts to supply are filled?

If he isn't just making stuff up at the behest of his masters - then there is clearly something wrong.

[nielsc] 06/12/2016 08:45

maximoney1:

Nice graph. Would be good to see a silver one as it would be just under 10% premium!

chipperfrd:

Could it be it only compares the two when both markets are open?


I see that the flow of gold out of the COMEX is increasing quite dramatically.

From



xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
I have now gone over all of the final deliveries for this year and it is startling.
First of all: in 2015 for the 12 months: 51 tonnes delivered upon for an average of 4.25 tonnes per month.
Here are the final deliveries for 2016:
Jan 2016: .5349 tonnes (Jan is a non delivery month)
Feb 2015: 7.9876 tonnes (Feb is a delivery month/deliveries this month very low)
March 2015: 2.311 tonnes (March is a non delivery month)
April: 12.3917 tonnes (April is a delivery month/levels on the low side
And then something happens and from May forward deliveries boom!
May; 6.889 tonnes (May is a non delivery month)
June; 48.552 tonnes ( June is a very big delivery month and in the end deliveries were huge)
July: 21.452 tonnes (July is a non delivery month and generally a poor one/not this time!)
August: 44.358 tonnes (August is a good delivery month and it came to fruition)
Sept: 8.4167 tonnes (Sept is a non delivery month)
Oct; 30.407 tonnes complete.
Nov. 8.3950 tonnes.
DEC. 36.609 tonnes
total for the 12 months; 228.157 tonnes
average 19.013 tonnes per month vs last yr 51 tonnes total for 12 months or 4.25 tonnes average per month. From May 2016 until Dec 2016 we have had: 204.915 tonnes per the 8 months or 25.614 tonnes per month (which includes the non delivery months of May, June and Sept). In essence the demand for gold is skyrocketing.
Something big is going on inside the gold comex.
Just take a look at Nov 2016 deliveries at 8.3950 tonnes compared to last yr 0.6656 tonnes
December so far: 36.609 tonnes vs last year’s 24 tonnes on first day notice and 6.45 tonnes on the completion of the December delivery month.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx



Cheers,
Niels

[chipperfrd] 05/12/2016 22:50

Thanks Maxi. Will have to see if it can be used somehow. Although it does not appear to agree with the above 'didthesystemcollapse' link!

[chipperfrd] 05/12/2016 20:24

If you find such a rolling chart Eintracht, let me know. I doubt that Kitco will be in any hurry to provide one!

The price differences can be seen here:


But that is not suitable for running in the header.
Chip

[eintracht] 05/12/2016 18:39

Is it worth having the SGE Gold Chart in the header either on its own or superimposed over the current header Gold chart ?

[chipperfrd] 05/12/2016 15:21

Maxi,

I will take the VC1 results over to my gold stock comparison BB rather than risk eliciting non-MML comments here.

Chip

[ilostthelot] 05/12/2016 14:59

Thanks RT wise words. I do agree. Time will tell ,as always.

[atlantic57] 05/12/2016 14:48

Ilostalot they are good at it and based
On recent form they can keep the ponzi
Scheme going on for a long time.

We may be intellectually correct but that
Counts for nothing.
In football it is a results business
In investments it is a results business

[maximoney1] 05/12/2016 14:28

Chip, re 36792 (First Majestic)

Apologies board for not strictly on topic (MML), but kinda related.

Just as a point of discussion(no critisism of your valuation methodology), however if earnings were low due to increasing exploration budgets, building new extraction processes to increase recovery rates and increasing throughput capacities, all costs hitting the earnings, might give a false impression at exactly the wrong time....ie the important preparatory work done in anticipation of the next 'bull' leg higher....timing, might in this case be crucial and one thing Keith Neumeyer has, is experience.
Also, whilst although the earnings are low, the rate of change in earnings might give a better indication, coming from a loss situation.
Just some other thoughts to juggle.

maxi.

[roguetreader] 05/12/2016 11:50

ilostthelot

understand you frustration, but IMO what's going on at the moment is one massive Ponsi scheme in confidence building (maintenance) by the establishment. If you read the current article in Bloomberg that quotes a number of Euro establishment figures, they would all have you believe there is no problem as a result of the Italian referendum.



I don't believe it. At some point it will fall apart and I think it is ('eventually') coming. When! is the $64K question and nobody knows the answer to that, but there are now too many events that have happened that have gone against the establishment and have proven to be outside of their control to believe the status quo can last. Personally, I've never been more comfortable holding physical gold despite the machinations of the corrupt markets.
RT

[ilostthelot] 05/12/2016 09:57

Yes Atlantic Gold could well be suppressed for the next 50 years.
I thought it was meant to act as a store of value. It's frustrating when you consider these three big events has created uncertainty and pushed gold downwards. It doesn't make sense to me.
More manipulation !? They're bloody good at it. To good.

[ilostthelot] 05/12/2016 09:43

The powers that be can do it forever- that is the problem.

[chipperfrd] 05/12/2016 09:35

Just more price rigging by using the Futures market to force prices lower.

In a rational world (or free market) why would gold & silver drop against the Euro/Pound/dollar when so much uncertainty exists after these protest votes?

It is what it is - a manipulated market - like so much these days.

Even the fines paid by Deutche Bank for rigging the PM markets in collusion with others for many years is not considered news-worthy by our bought and paid for financial journalists.

It is all so blatant now. Not even any pretence. As all the currencies weaken Gold must on no circumstance or event be allowed to alert the general population that something is amiss.
Chip