Member Info for thornyone

85 per cent is correct.
Agreed 2020 but implemented 27th Dec 2022. The Comex was able to get away with issuing certificates for gold futures 100 times over for the same stack of gold because very few buyers desired physical delivery. When the Comex got scared there might be a run on physical gold, a clause was added to certificates to the effect that if there was not enough physical gold available, the Comex could settle up in cash! Couldn't make this up :-)
https://www.gold.org/goldhub/gold-focus/2021/06/basel-iii-and-gold-market

Selling short is legal i.e. one is betting on a decrease in the price. For gold however, it is no longer legal to sell short paper certificates for gold unless one holds 85 per cent backing of physical gold (need to check 85 per cent). Prior to 27th Dec 2022 it was 0 per cent. This does not apply to silver etc. In my opinion it is not the Fed rigging the market - they are just dim-witted - but your average bullion dealer who does not want the price to go up too much as it would be bad for business :-)

Hi D_K. Calm down. Gold is not being hammered. Suggest you look at the quarterly chart, not daily. The sellers are profit takers. We are all guilty of it, when we get the chance :-)

Sotolo. Also from the Rio Times, Jan 10, 2023. Peru arrests 8 Bolivian activists at the border.
https://www.riotimesonline.com/brazil-news/rio-politics/national-politics/peru-bans-entry-of-evo-morales-for-affecting-national-security/

Sotolo, please see for example The Rio Times Dec 15th:
https://www.riotimesonline.com/brazil-news/mercosur/100-parliamentarians-denounce-the-interference-of-petro-and-amlo-in-peru/

It appears this protest has been fomented by foreign agitators with an extremist agenda taking advantage of the plight of poor people in Peru. They are about 25 per cent of the population and have been complaining for years about high prices. The recently ousted president Castillo did done nothing to alleviate this problem. Poor people should be happy to see the back of him. Who is going to tell them that the solution to the poverty problem is not to prevent mining activities but to encourage them? The present government needs to lock up these agitators and stop *****footing around imo.

Now is not the time to be looking into the past imho.

Next stop $2000. All aboard

Re gold-eagle. You may be correct Glenmere. But inflation is not going away any time soon even if it dips slightly. In the 1923 German hyperinflation, there were also dips. But the multi-trillion debt only became bigger, as it will in the US imo. As long as the BIS sticks to its guns and the shorters stay out of it, the next few months will be buying opportunities for the smart money.

The reason for my betting on gold rising is that from 27th Dec 2022 the BIS (bank of international settlements) attempted to ban short selling on gold futures by banks, by making it mandatory for banks to include these loans on their balance sheets. Many banks have carried out the BIS ruling. But if the BIS is about to do a volte face because their aim is also to protect the dollar at all costs, this would not surprise me. Might as well take to the hills.

The only question for me is whether Hockie shares perform as well as gold shares quoted in NY. Over the past few months they have all performed equally, which goes to show they reflect the recent gains in the price of gold from $1640 to $1870 today. My bet is that gold is at the beginning of a bull run, mirroring fears of runaway inflation. In gloom and doom times like now one can ignore academic bs, which ignores the bigger picture

Jppj
'I do not understand your country, really.'
It's simple. Different levels of ignorance competing with one another.

Jeremy Hunt needs to enable all viable fracking immediately with military support if necessary.
Why pay foreigners for energy when it can be sourced at home? The nett effect on the environment will be the same wherever the energy we use comes from.

The market rarely forgives.

Sorry, I meant 'energy price cap'

Would have thought now is right time to buy, seeing that that Truss's two-year energy cap has been abandoned.

A FID progress report from Sam would be nice

20p?

Any predictions what will happen to SP, currently around 15p, when OM money arrives in RKH's bank account?

LaticsRule,
the job of the mms is to ensure the smooth running of the exchange for buyers and sellers. No more than this. If a situation develops between bids and asks and neither will budge, the mms may call a halt to trading for 5 minutes until one side or both come to their senses :)