I'd take that YouTube video with a pinch of salt. The BoE reports on how much physical gold it has in the vault in it's annual report. There was £140bn worth on 28th Feb 2014. That's about $230bn dollars worth, in other words about 5,600 tons of the stuff. It's not going to have all disappeared like this bloke is saying in that time as that would be an average of about 30tons leaving every day since then for it to be gone. That number of heavily armed convoys would have been noticed or the BoE is telling porky pies. Who do you want to believe? Nice fantasy though for those of use owning shares in companies owning gold reserves in the ground.
Gold price forecast, Sept. 10, 2014: In April 2010 I made a somewhat controversial prediction that gold would reach $5,000 an ounce. I still believe this to be a realistic price target - and now prominent gold mining experts are following suit.
Rob McEwen is more than qualified in the realm of gold mining - he's the founder and former chairman and chief executive officer of GoldCorp Inc. (NYSE: GG), a $20 billion Canadian gold miner and the world's largest by market cap.
And in an interview on CNBC's "Fast Money" in August, McEwen said "I'm a long-term believer in gold and I see it ultimately getting to $5,000 an ounce. Anything short of that, I wouldn't be hedging."
McEwen expects gold to hit his $5,000 target within the next three to four years.
And I agree.
A look at the metal's recent history shows how McEwen and I arrived at this gold price forecast
"Scotland voting for independence as this will cause carnage on the markets"
I disagree. apart from some Scotland based financials I think the effect on the market will be less than many think. until the currency issue is sorted the £ will suffer though. But, the BofE will clarify the currency issue very very quickly
Fantastic posting and your understanding of the global mechanics is somewhat impression and way to clever for me so keep posting as I'm certainly absorbing.
With reference to MGA I had an email from Malcolm Field the administrator and his timeline was always September and further to this I have contacted Bob Bickford but he has not responded which leads me to think that September is indeed the month.
The RNS confirms the cheques will leave early September and I'd expect those to be presented at the banks now and cleared by Friday next week at the very latest.
ECR have no control over this but us holders can taken advantage of this as the window is closing and I'm going for an w/c 22/9 for an announcement.
I have a 4m buy at a certain price to be filled and this $3000oz article isn't helping !
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