Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
hahahahahaha
SparkPlug.... putting aside this constant BS thing... you really shouldn't be here....
hahahahahah
Good luck with those shorts Sparkullatory 11111111111111111111.
You'll need it.
Where's Sparked11111111111111111 today ?
Oh , hold on....
POG up $24....
Old news, Spakulatory111111111111111111111.
Please keep up.
If Russia is forced to sell gold because of US/EU sanctions then I think China will be delighted.
It will immediately place the buy-order for whatever is on sale.
Gold stable, and no Sparkler1111111111111111 Inverse Predictions.
Not a bad start to the weekend.
MORE predictions please Sparkuliser.......!
Your last one.... $1130 POG....FAILED. New one required pdq.
Can't see what the confusion is about with this run up. The Swiss vote was a Public Opinion Poll.
The cause of the run up is PM BACKWARDATION being the deepest in donkeys' years. That's a much more real and pressing factor.
The laughter you hear is not at you...... but at Sparkulator1111111111111111's 'Reverse' Predictions.....
Hahahahahahahahahaha
Take more water with it, Sparkuliser..................
hey Sparks111111111111111111... your mystic river prediction of gold going -30 to -50 this week is looking a bit ....er.....off.
Hahahahaha
Good luck on that chart SPARKULATOR1111111111111.
You can't do any worse than your price predictions.
How's that 1130 gold coming along for this week ?
'The US gets to parade around like they still have everybody's gold they (we) were entrusted with,'
Like Germany's 350 tonnes, of which less than 60 tonnes have been repatriated after two of the seven years Installment Plan ?
Hahahahaha
eik, my point was not the Swiss worrying about their gold in NY because,as we both know it isn't held there. My point is the general air of mistrust about foreign central banks vaulting one's gold, as well as the non-necessity of having gold outside national borders. Trust between Central banks is eroding. Holland follows Venezuela and Germany in its desire to repatriate and Switzerland's referendum proposals go beyond mere repatriation and encompass a view of gold as the ultimate money and thus its position in the Swiss fx reserve accounts.
If it can happen because of the NY Fed then Canada and London, which are in the financial pocket of, and subservient to the USA in terms of trade and real estate influence and geo-politics, can conceivably fail the moral hazard test as they have already done with Ukraine's political coup and the US's grab of Ukrainian gold- most of which is probably now in Amsterdam.
With regard to your second point, the potential for Switzerland selling currencies in its fx accounts to re-balance the books would be a self-inflicted wound of a type which probably has minimal probability.
However, central bankers do the weirdest and stupidest of things at times.eg Gordon Brown forcing the B of E to sell most of Britain's gold at a price bottom to help Goldman Sachs's derivative disaster.
At the moment, the Dutch repatriation of gold is a bigger talking point than the 'will they/won't they ' debate about Switzerland.
The news on Friday that the Netherlands has repatriated 120 tonnes of gold from the New York Fed over the last two or three months puts the Swiss referendum into a new perspective. The dutch did not need a referendum but there again the Swiss referendum terms go a lot further especially in the context of keeping gold at a 20% level of future fx reserves.
However two questions emerge for me. Firstly, is it fair to say that the Netherlands, like so many foreign sovereign vaulters have lost faith in the Fed and simply don't trust the USA any more ?
Secondly, how angry will Germany and its citizens be about the Netherlands getting all its gold back from New York given that Venezuela also got all its NY gold back, but Germany seems to have received only 60 tonnes or less of its own 350 tonnes of gold back over two of the seven years installment plan it was forced into by the USA ?
If you have gold vaulted in NY you seem to get it all , or very little and not the same bars as Germany found.
This weekend the Swiss will be looking ta the Netherlands and in the light of Germany's abuse by the USA will likely have more Yes voters on the 30th.
"Norbert Barthle, the budget spokesman for Merkel’s Christian Democratic bloc in parliament, said in an interview. “Objectively, there’s absolutely no reason for mistrust.” "
And right there is the clue... "...Merkel's ....bloc"
No representative of the governing bloc that has been sckrewed by the Fed can possibly admit to being the sckrewed entity.
In any event, it has emerged that contrary to some press reports, the Bundesreich continues to press for repatriation of Germany's gold.
Despite the Fed having stolen it.
Has there been a new poll in Switzerland this morning ?
It's quality not quantity.
Predictions: Are usually very difficult if they involve the future.
It is now confirmed that the USA has stolen Ukraine's gold; having previously stolen Germany's gold, as we all know.
As the west pished off Putin big time at the G20 in Brisbane,all he has to do to upset the USA's Fantasy Monetary-Apple-Cart is have his central bank buy 5% more gold on the international markets. That would be more effective than sending Bears into European airspace to annoy the various air force defenses.
Sparky "It's because gold is about to break down, I think it just has.Target 1125 short term," On the 12th Nov.
It seems like more than almost week ago you said that, Sparkalyser. Then it went up 37on Friday, and is up 12 as I write.
Can you please improve your prognostication. Intelligent people are hanging on your every word for pete's sake.
Our best hope for an explanation of this surge in the POG is probably Sparks1111111111.
He always knows what's going on, when the rest of us are scratching our chins.
Gold Up. Sparkler absent.
Not a bad day, after all.
UBS to 'settle' gold market rigging claims. Huge fine coming. (FT report.)
Only 24 hours since the fraud of QE has ended so it's a bit early for any of us to get definitive about the cessation effect on the POG.
With news of China on track to import another 2000+ metric tonnes this year following a similar amount last year there is no doubt that demand in the east is still steaming. If it's a fully supplied market then Germany should have all its gold back by now, so I wonder why they have only received about 40 tonnes after nearly two years. The Bundesreich members are probably asking about that also.
As the Gold Futures market IS the manipulation I'd say that the naked short sellers of gold there are trying to influence the Swiss referendum. At the moment I think they want to make $1200 a ceiling.
As usual they run the risk of stimulating even greater demand for gold in eastern nations far more effectively than trillions of QE dollars stimulated demand for anything at all.
Russia appears to be increasing its Gold imports and whilst I have been doubtful of a possible default in the LBMA or in Comex over recent years I think this is a risk that is growing.
Just MHO
There's a good one called 'Google Search.'
xero , he's winding you up.
IMHO I think we have to consider whether Shanghai, tomorrow, and later this year,Singapore, Thailand and Dubai, want to establish local markets in Gold simply to replicate easily traded existing markets in London and the USA.
What might they want to achieve that is not available to them now, other than simply hosting a market facility and taking transaction fees ?
The new SGE physical gold market, opening tomorrow and 11 days earlier than expected, throws the game open in an interesting way.
Personally, I see it as another huge step in shifting pricing power on the POG to China; I see the market moving significantly away from the LBMA and COMEX,and I see a possibility of arbitrage if Wall St continues to seek control of the POG by way of the futures market in North America.
In time, and in probably a shortish time, producers will sell into the Chinese market for a better price and the COMEX will be drained after a period of diminishing influence.
The USA has abused its market control on its home territory and now the bill will be paid, probably by US taxpayers.
In a wider context, both Russia and China, and now India, have seen very clearly what the USA has tried to do with gold futures to protect the diminishing dollar, and only the weakness of the Yen and the Euro ('whatever it takes' Draghi) makes the USD look 'strong.'
Everything Yellen has said today was clearly anticipated yesterday ('signs of improvement, but weakness in the Labor Market, no raise in interest rates for quite some time').
The USA simply cannot raise interest rates because if it did the USA would bankrupt itself thanks to almost $18 TRILLION in National Debt and an economy that that lies moribund.
I imagine you have a huge huge huge short on gold, given that view, Sparks.
Can you confirm that ?
I'm curious as to why, if POG is going to $200, say, China insists on buying at the rate of about 1200 -1400 tonnes per annum.
This surely suggests that China is absolutely crazy....
Yes, why indeed don't they print a 100 bn dollars and take it right down $50 or $100 per oz ??
I suppose,and I'm no expert here, but that would prompt huge eastern buying over and above the stampede for metal that we saw last year after the April smash failed.
Also it would further debase the USD over and above what is being done to it it by the QE and the National Debt ............thus spurring more de-dollarisation as we re seeing this week with the BRICS $100 bn banking and currency swap deals.
Only if KissMyRSS says so, thank you very much. He's the man on charts round here.
Looks like another '1300' battle raging.
What's behind things this am? Ukraine ??????
Despite GOFO rates in the LBMA being profoundly in Backwardation, I suspect that we simply cannot, and must not, expect to see the Easter Break beginning with a rise, however small, in the POG.
The Battle of 1300
I don't hold out much hope or confidence in the start of the Volker Rule provisions for gold, but I'm happy to be proved wrong.
We have had blatant position-maximum busting manipulation in the Comex under the corrupt protection of the CTFC for a long time.
Why would the banks start to get timid now? Surely the most likely outcome is 'more of the same.'
The banks have been protected under the TBTF/TBTP care of the Justice Department so the Volker Rules are just so much lavatory paper.
Ukraine's gold is now in the market. The good news is that there was only about 55 tonnes of it so the Chinese will snap it up in about 10 business days.