this is where , have a good read first bit , quick look at charts , going to read properly tonight . http://www.valuewalk.com/2014/01/gold-wars-china-russia/ , there this too , , The centre of gravity in the physical market moved dramatically eastwards during the middle of 2013 as the professional investor disgorged metal, for it to be snapped up by rampant demand in Asia and the Middle East," the report indicates. While gold selling in the West from ETF liquidation (paper gold investments) released some 880 tons of gold into the marketplace, physical gold purchases in East Asia, India, and the Middle East amounted to 1,066 tonnes — as much as 1,338 tons globally. On net, 2013 saw more gold buying than selling by 458 tons. In other words, all the gold that was released through ETF liquidation in the West was completely soaked up by the Eastern hemisphere plus another 458 tons more, which ultimately came out of the miners' gold inventories, re ducing above-ground supplies. , if you want the source to second part , sorry not allowed , but it is from a good source.
a good link from webs (avm bb) , very interesting and worth the read .http://www.valuewalk.com/2014/01/gold-wars-china-russia/ . gl all .
great link , just had a look , not read all , but already interesting . china buying using proxies and ? over how much off the books gold they hold , the US have ? amount off the books gold too , and interesting chart , US hold 71% of there reserves in gold , so the chat by some that the US is running out of gold doesn't add up . looks to me like they are still in charge of the gold market and able to drive price further down if needed . which if they won't the dollar not to collapse and there Ponzi scheme , to me they will have too so I don't see gold being at a bottom yet .
http://www.bbc.co.uk/programmes/b03kpnjq , worth a listen too , 6 , 15 min programmes . From the Pizzaro brothers, who pillaged Peru for Inca gold in the 16th century, to the modern-day Mponeng mine in South Africa, the deepest in the world, where the ghost miners illegally siphon off millions - the pursuit of gold has led to wars, insurrections, betrayals and bloodshed.
why do mm's want yours and others shares ? . they are market makers / middle men and make money on the difference between bid and ask , no matter if it goes up or down they make money . if there aren't any buyers or sellers at say £1.20 , then the mm will start to drop the sp , why , he's not making money , his job is to get people to either sell or buy , because they can see the book and what is needed , ie a buyer at £1.10 like you , the price will drop towards that price , now if people start buying at £1.15 , they will stop dropping the sp and start to move it back up , as this happens they will get sellers and they are very happy making money , other brokers are happy because the mm is creating there commission . off course there is more too it , but that's the basic principle to a mm's job make a market .
maybe you'd best top up now before it the sp goes higher ? I find it interesting that german gold is making a fuss , the thing is , the US are aloud to lend out the german gold , part of agreement , and even if germany want there gold ,they will have to wait ,as they are with no fuss . so the US has no gold then , that's excellent news , we should see a reaction to that fact by the weekend AND GOLD SHOULD SHOOT UP . looks like i'll still be waiting and missed the boat .
did you do the same when I said it would fall back and fill the gap at 90p ? , one of the reason I believe it will drop and fill the gap at 0.92p (which was left on the rise from 0.90p ) is because of the price of gold , it moves down we move down . nothing to do with rain , if the gap isn't filled before we head north , at some point it will need to be filled , best now while we are near a bottom , I just don't think gold is at a bottom yet . how much more gold do the US have ? only a few select people know that answer , I don't . then we have the off books amount that is in a vault that a whistle blower from the world bank disclosed on a rt .com show ( if it's true ) . andydiff , been watching max for couple of years , has some very good episodes . i'm not keen on how he's pushing bitcoin .
last week it was if it dropped to £1.10 , now £1 , next week 0.90p . gold so far hasn't been able to break resistance ( had $1263 been broke was chance of breakout) and move out of downward trend , so back downwards to test support , If it falls below $1177 then it is $1125 ish as next pp , i'll wait yet to buy back in, I still believe will drop to fill gap at 0.92 . I don't think we can expect too much from next quarterly ,As advised on 23 October 2013, as a consequence of this delay, the production for the December quarter will be reduced, until the new SAG mill is operating , The new SAG Mill which was successfully started last week is currently undergoing commissioning and will gradually build to its throughput of 2,500 tonnes per day ("tpd") during the March 2014 quarter. should be a cracking year once this first quarter is over , gl all ,
there was a main buyer (recent holdings rns) and the price of gold was rising , now the main buyer has either stopped or slowed down buying or could even be selling some . price of gold is falling and people are moving ahead of the curve and taking profit from the recent move upwards . all depends on where you see gold going short term . yes the new mill is up and running , but at what rate of production ? production will be slowly increased and hopefully in march be at near full out-put , if all goes well and there time frame for this to happen is correct . while gold falls and we wait for production to rise again we will imv not go upwards yet , charts say a fall back before a move back north , filling the gaps in the charts is best done now before we move north (lowest gap 0.92 ) . nothing wrong with mml and i'm waiting to jump back in .
yes I know QE devalues the dollar ( pound , yen , euro etc) , seen as the price of gold is valued in dollars ,doesn't that therefore devalue the gold price ? . as I posted if you was correct why is gold at this price ? with 85 billion a month printed in US all last year gold should be at a high ? if you noticed when big ben mentioned tapering the gold price stopped falling and rallied , and we also had the mini rally from start of the year because tapering has started and now 75 billion will only be spent this month . I do think that yellen will stop tapering and reverse it and probably increase it to 100 billion , but this will have the correct affect on gold and we will see it rise . they had to taper because if they didn't , faith in the dollar would of decreased , it will hurt the markets and they will have to stop and increase or at least go back to 85 billion per month , this will then shake the faith in dollar and as we know that will then have people running again for safe havens and we should be off to the races . i'll be back in here before that happens , lets get those gaps in the charts filled before gold does rise , and medusa gets upto full production will no hiccups in march .
you say about yellen and likely more qe will be good for gold , if that was the case why has gold gone down while the US has been printing 85 billion a month ? I also don't think yellen will change the QE of now 75 billion a month just yet , wouldn't be a good signal to the markets and as we know they are doing all they can to keep the markets high .
because of a few different reasons I decided to sell late Friday and bank some profit , will be looking to buy back in again in near future . things look good for medusa later in 2014 .
looking like gold price will be testing the $1125 ish pp I have on my chart ,that will most likely bring medusa's sp down and fill the gap left @ 92p . if gold should fall below $1125 , we will most probably see lower than 92p and could even be re-testing 80p , just depends on how far they can push gold down . I'm going to be adding some more shares here at some point soon , would be rude not too , medusa has a brighter 2014 to look forward too and so do us holders . gl all .
been watching and waiting to buy in here , I bought in last week . i'd noticed in july that as it rose it had left a gap at 90p and it's good that the gap was filled before any major rise in sp . slight caution from here is that the rise today has left a gap at 92p , could be the sp might not rise too much at the moment and fall back to fill the gap before it truly goes back northwards ( be interesting to see if £1.06 broke 2morro) . by the time the mill is at full tonnage ( march 2014) it could be that gold will of bottomed and be rising at exactly the best time for mml . I don't think gold has bottomed yet , I have $1125 on my chart as next pivotal point downwards and hopefully the bottom for gold . 2014 should be a good year for mml .
there could be some support around $1320 but I still see gold dropping further, as it has fallen back into downward trend . I posted few weeks ago it might briefly go over $1400 but not for long , my 1 year daily chart is showing bottom of latest drop but 1 year weekly is a different matter , it's showing gold will be dropping further in the next few weeks , next support level after it falls back under $1320 is $1280 then $1210 . i have lower trend line on my 3 year weekly about $1125 , so i'm waiting till see what happens over next couple of weeks before buying any gold mining shares . gl all
QE is not an un-tested experiment , japan have been in QE mode for 20 years , so don't be worried about stimulus stopping in the UK or US just yet imv . interesting research mogo ( post @ 9.18 ) and I agree with the take on the tabloids , do the opposite is usually the best . take barchart opinions on stock , when it says 100% buy you should sell and visa-versa . labourse , the reason that the US with the dow and s&p and here in the UK the ft like them going up because it gives the impression all is ok to joe public . what I try to do is see why things are happening and how it can be good for the elite . then I can hopefully make some money at the same time , take gold , we have backwardation and the impression that demand is out weighing supply , which is probably true but it doesn't mean they haven't the gold to fill the demand and there is new gold bars being produced every week . but it isn't actual physical gold demand that moves the price , it's paper gold that controls the price and that can be manipulated to suit , we have to remember that for every 1 new bar of real gold multiples of paper gold can be created . so gold up or down ? will the demand stay strong , have people been buying at too higher price ? how many will sell if they are in negative equity if the price drops further , have people got much more spare money left to carry on buying . here's an interesting interview with jim rogers http://www.youtube.com/watch?v=3d2nDOyepHw&list=PL2WWM-Cq2nuIjtSZn9H2h7SL8GDrxx2Bp&index=3 , another good interview http://www.youtube.com/watch?v=ZmR64zTk7h4&list=PL2WWM-Cq2nuIjtSZn9H2h7SL8GDrxx2Bp . I do disagree with him on silver , it's undervalued as I've posted before ( historically in ratio to gold ) . interesting posts on the gold bb's on the influences on the gold market and the where the price is going . gl
the one thing I've noticed as I've been researching and narrowing my choices down is that all the gold producing companies have been working on bringing there costs down and mentioning about being able to still being able to make a profit with a low gold price .at the same time some of those companies are reducing there out going costs by either stopping or cutting funds for exploration , there are enough that can still make profits with gold price as low as $1000 . like mogo says you'd not think that was what they want because of supply / demand , but those who can still make a profit will still be selling while others will either run at a loss or stop production , china are the biggest producers of gold but don't sell it into the open market , but they are also buying on the open market . so we look at which countries do most of the gold mining companies come from ? who has financed those companies ? who are the major shareholders ( individuals / various funds ) , they are the same people who manipulate the market to suit themselves , take the recent fall from $1600 how did they do that ? 1300 tonnes of gold missing from the Bank of England! , second half 16 mins in , http://rt.com/shows/keiser-report/episode-476-max-keiser-641/ . if they want the price lower they'll get it lower , I don't think they have lost control yet of the gold market , as mr macleod pointed out , the start of a bear squeeze . interesting times ahead for sure , if money is to come out of the stock markets , will there be profit taking after these resent rises in gold companies ,or more flow in as a safe haven ? will more be getting out than getting in ? forcing the sp's down ? well if they force the gold price down they will of caught some to hold the baby or sell at losses . looking at my charts ,with the resent rises some companies are over -bought or near it or coming out off being over- bought , with my gold chart it's nearing over-bought i'm sitting on my hands and hope I've called it right and can get in on a re-trace or it's catch up time (which i'd rather not have to do) . exciting week ahead gl .
looking round some of the boards , a lot seem to think that the US will start to taper from sept , I don't think they will at all as it would be the worst thing they could do for themselves . big ben will say bla bla and the fed will not start tapering in the short term bla bla maybe mid next year bla bla , thank you and i'm out of here to enjoy my spoils :-) , cheers ben you've been great , welcome larry ? or janet to carry on the good work . jmv . well i'm still sat on my hands , I've missed chances of gains in the gold companies I've been looking at , here was one of them . never mind . on my chart I have 1,388 as next pivotal point to break the downward trend line , so it could touch 1,400 but I don't think it will be broke yet and will slip back , I've two pp's on way down at 1,247 and my bottom trend line pp is 1,139 . off course it could break upwards but silver is in over =bought and gold is tinkering on being over-bought on my chart. well we'll see next week one way or another .
some very interesting info , US to have bail=ins ? seems it's already planned . http://rt.com/shows/the-truthseeker/us-aconomy-exposed-offshore-380/ . . http://rt.com/shows/the-truthseeker/wall-street-monetary-fund-407/ . so will things be getting better ? . . silver is in over-bought territory and should start a re-tracing and I still think that gold is going to drop back , stochastic is at 91.6 /85.9 and rsi looks like it's on way down , was 76 other day now 70 . sit on my hands time until the re-trace in the mining companies i'm interested in before I buy . gl and have a good weekend
like-wise I agree in your post about the media and the data they choose to highlight , but it's mainstream media's job to back up what the elite want joe-public too believe , well they do own them after-all . i think those who are in gold / silver will be the ones smiling over the coming years , i think (like others ) although gold is a good investment , silver will be the better of the two shiny metals for the best gains , historically it's way below it's avg ratio , at minute about 50/1 , silver oz for one gold oz when normally avg is 24/1 , silver is way under-valued thanks to j p morgan & chase . owning physical of both a must imv . gl