CALVF - China To Launch Interbank Gold Market -
By Leslie Hook in Beijing
July 19, 2012 12:31 pm
China is set to launch interbank gold trading at the end of next
month amid a broader set of banking reforms, in a move that has
the potential to boost demand for bullion in
the world’s largest consumer.
A spokesman for the Shanghai Gold Exchange confirmed that the
exchange “has this plan” to create an interbank gold market and
was working with other government agencies to do so, but
declined to disclose details of how the new market would
Interbank gold trading would be an incremental step in
China’s broader banking liberalisation, which aims to modernise
the country’s banking sector and includes recent moves such as
giving banks more freedom to set deposit and lending rates.
“This will be a good thing . . . to add a new trading method and
make it easier for banks to trade gold between themselves,”
said Gu Wenshuo, spokesman for the Shanghai Gold Exchange.
The exchange will announce more details in August, he added.
China is the world’s largest bullion market, accounting for a
quarter of global demand in the first quarter of this year,
according to the World Gold Council, and strong consumer demand
for gold has been driven by the lack of other investment
options in the country’s closed capital market.
At present banks are not allowed to trade bullion, or any
precious metals, directly with each other and can only
buy gold domestically through the Shanghai Gold Exchange or
the Shanghai Futures Exchange.
However, about three weeks ago the exchange and other financial
institutions circulated a draft of new regulations for
interbank gold trading to solicit comments from commercial
banks, according to a metals trader at a large Chinese bank.
Jim Sinclair’s Commentary
The more real competition in the gold market, the more difficult
for the good ole boys on the COMEX to manipulate the round
the clock market for gold.
What The Weekend May Hold
July 20, 2012, at 10:25 am
by Jim Sinclair in the category General Editorial |
Dear Extended Family,
When will QE become the public practice of all
Western world central banks?
It will more than likely come over a weekend just like this weekend.
Major sovereign bonds like the Spanish and Italian will be over
7% yield and rising.
The Euro will be under pressure.
Equity indices everywhere will be under pressure.
Recent economic statistics in the entire Western world
will be quite negative.
The impact of the drought will have driven food prices
through the roof.
This time all central banks of the Western world, not just the
Federal Reserve will announce emergency measures on Sunday evening.
It is coming a lot faster than the gold bears think.
It can be any weekend now. It could be this weekend.
The longer the central banks wait, the more nuclear and
longer the QE blast will have to be maintained.
The price of gold is going to $3500 and higher.
Bill Murphy’s London Source: “Silver & Gold Will GO NUTS
Posted by The Doc on July 19, 2012 11:21
in last 1930 depression DJIA dump did happen but
GOLD stock kept its demand UP -
history often repeat itself -
High Risk Paying High REWARDS -
Iceland boasts a 4.5% growth rate -- the best in the Eurozone -
No, alert went off thought. I'm looking for2.3x if possible.
You jump in again? I noticed yesterday it got to the 2.4x's. Looking at chart it made a higher high and higher low today. It make go ahead on up some. I'm still on the sidelines
Out of UNTD at 4.06 today for a .27 a share gain before comm.
Thanks Tina. Been trying to get a nice set of investment working for the short medium and longer term. Coming together....I hope. lol
Not a bad idea about a blog. If the Yak board dies off...I'll for sure do it. We'll know in a couple of months if that's what's going to happen there. We'll see.
I'll check with you about how to do that.
Thanks! and have a good one!
some really nice DD there!
You are definitely the master of good quality long term investments!
Going to make it a sticky.
Hey, you should make a blog and put all your DD there for twitter to share! They're really easy to do and it would be your own little baby to add charts and your DD :)
3 new stocks I'm building long positions in:
$RNO coal stock. Pays 14% divi.
RNO Company Overview
Headquarters:Suite 250, 424 Lewis Hargett Circle
LEXINGTON, KY 40503
Rhino Resource Partners LP (the Partnership) was formed to control and operate coal properties and related assets. The Company produces, processes and sells coal of various steam and metallurgical grades. It markets its steam coal primarily to electric utility companies as fuel for their steam-powered generators. Customers for its metallurgical coal are primarily steel and coke producers who use the Company's coal to produce coke, which is used as a raw material in the steel manufacturing process. Rhino Resource Partners LP has a diverse asset base with coal reserves located in Central Appalachia, Northern Appalachia, the Illinois Basin and the Western Bituminous region. It is managed and operated by its general partner, Rhino GP LLC. Wexford Capital LP is the Company's investment advisor. In June 2011, the Company acquired Elk Horn Coal Company, LLC.
2nd one is: $FGP oil and gas operations 12% divi
FGP Company Overview
Headquarters:Suite 1000, 7500 College Boulevard
OVERLAND PARK, KS 66210
Ferrellgas Partners, L.P. (Ferrellgas Partners) is a distributor of propane and related equipment and supplies to customers primarily in the United States and conduct its business as a single reportable operating segment. Its activities are primarily conducted through its operating partnership, Ferrellgas, L.P. It serves approximately one million residential, industrial/commercial, portable tank exchange, agricultural, wholesale and other customers in all 50 states, the District of Columbia and Puerto Rico. Its operations primarily include the distribution and sale of propane and related equipment and supplies with concentrations in the Midwest, Southeast, Southwest and Northwest regions of the United States. In July 2011, the Company acquired Williams Panhandle Propane. In September 2011, the Company acquired Economy Propane, Inc. In November 2011, the Company acquired Polar Gas Company. In November 2011, it acquired Welch Propane, a retail propane company.
3rd one is: $GET holding this one for the $8 to $9 special divi which timing will be annouced soon. Their going from a hotel/motel operator to a REIT operation. Sold the rights to a number of their hotels to Marriott. Future divi's should be good...but well see.
"By year-end, the Company plans to issue its shareholders a special, one-time taxable dividend of its undistributed earnings and profits, after receiving a private letter ruling from the Internal Revenue Service (IRS). Based on its preliminary analysis, the Company estimates the amount of the earnings and profits distribution to total approximately $415 to $450 million. Gaylord intends to pay 80 percent of the dividend in shares of Gaylord common stock and 20 percent in cash. The Company expects to incur approximately $55 million in one-time conversion, transaction and severance expense. The sale of the management company and the brand to Marriott International is subject to closing conditions, including the approval by Gaylord's shareholders of proposals that will facilitate becoming a REIT, lender consent to amendments to Gaylord's credit facility, and other customary conditions and regulatory approvals. Gaylord expects to hold a special meeting of stockholders in the third quarter of 2012 for the purpose of voting on shareholder proposals that will facilitate becoming a REIT, amendments to its Certificate of Incorporation or other restructuring. Gaylord will file a proxy statement or other filings with the Securities and Exchange Commission, which will describe the proposals and the REIT conversion."
Hey there Tina,
Doing fine, hope you are also.
Hardly ever look at that board any more...their otcbb's and pinkie stocks I care nothing about and some of the people even less. lol
Pretty much stock to my usual boards...rarely post on any others. Ihub posting has been on the decline I think since twitter has taken off as a more stock/trading resource. You follow who you want and you block who you don't want. Few if any ads and free. Can't beat that....till they change that....which will probably happen at some point. lol
I have a couple new stocks for you and all...I'll post them in the next message.
Take care. All the best,
How's it going? Any decent boards to post on ihub anymore where having a sense of humor is allowed?
I can't believe this but I guess the day finally came where you can't joke around on the Swing board anymore (even on the weekends).
Jokingly called Raw Satan and it got deleted. Guess unless you talk about JB, nothing's permitted anymore.
HAPPY BIRTHDAY CHRIS!!!
Hope you have a wonderful birthday :)
tee hee six years ago (have it in my kept folder): http://investorshub.advfn.com/boards/read_msg.aspx?message_id=15614627
HAPPY BIRTHDAY TINA !!!!!!
Falling again. I'm looking for around a 2.4x maybe, perhaps even lower. Watching
good job, i'm squared to the market. UNTD ate my lunch. POS. Of course it'll probably run now... doens't matter, i need to square and relax and think.
Out of S @ 2.65. for a .16 a share profit before commission. Should of bought more when it was down in the 2.35's.
I could do that, you need to teach me
I got some on the side. I may look at buy a option on them since its not that much for the upside potential. I was looking at a Jan. 2014 2.50 call for low .7x's
Just busy working and don't have much time to trade so I got a couple mutual funds. Have another daughter on the way. Due anything this month.
Little bro has a second daughter on the way. Little Lani
Good to see you AA! what's been up with ya?
Little bro, keep $ on the side. I think you night on the high
I've been buying 2.25 to 2.35
It may fall some more. Maybe 2.3-2.4 range unless news comes out bad for them.
I'm waiting for a retrace. You think solid here?
Hey Tina! I hope things improve for you and you enjoy yourself.
Dam if UNTD didn't cut this morning after good earnings... wtf.. nothing wrong with the company LOL. I'll hold till after the Divi... i'm at least taking that away from this LOL.
Internet has been crappy for the last week. Now, no water. Getting ready to go stay at my friends house in the city.
Hope you're doing groovy!
Enjoy chris! And hello sir!