Sprott Physical Gold Trust (PHYS)

[NYBob]

Metals Raid - Sprott Raises $392 Million For Gold for PHYS - Dalio Says 'Shift Assets Into Gold'
12 SEPTEMBER 2012

On the bright side, the Sprott Physical Gold Trust (PHYS) completed its secondary offering and the underwriters allotment, raising $392 million to buy additional gold bullion to be held in the trust.

The report does not indicate if they have secured title to the gold yet. Even after they have secured title, it often takes weeks and even months to achieve actual delivery to their vaults. The recent lag times in their Silver Trust expansion, and the types of bars they received, suggested a tight market for the real thing.

As you may recall, I think that it will be in the high quality bullion bar bulk market where the initial signs of failure to deliver will occur. The peripheral and coin markets will stay relatively healthy until the dawning comes, and then dry up overnight. The retail crowd are always the last to know. So lets keep an eye on this.

The metals were smacked hard today in what *looked like* a secondary reaction to the complications in Europe over their rescue funds. What initially looked like good news for the fans of Draghi was tarnished by a misunderstanding about the role and scope of the German Parliament. There are also quite a few unanswered questions about how it could be implemented in specific countries.

Stocks recovered quickly but the metals remained a bit subdued.

USGIF Gold Target $4,500.- + +



From Jim Sinclair...

My Dear Extended Family,

Monty Guild, a friend of mine for more than forty years, is
the most honest and capable man, in my opinion,
in money management.

I respect Monty's feelings on many matters, certainly
the macro picture.
Monty, like I, believe it is possible that coordinated central
bank actions in the USA, EU, Japan and China are being discussed.
The economic problems are so severe, so international, so global,
so entwined, so insoluble and still caused primarily by the greed
of 1990 to present finance in the form of OTC derivatives that
only coordinated global action can kick this can one more time.

Gold is truly going to and through $3500.
The gold business is the best business to be in.

Respectfully,
Jim

$SILVER Chart P&F TA Alert AgBull Price Objective $58.0 per ounce


Silver Ag-bull often front-runner of Au-bull -





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U. S. SILVER Alert - Investors have nowhere left to hide and
will start running to silver and gold: Sprott

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Silver Update 9/9/12 Inflation Adjusted Silver

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Beware: stay out of banksters ETFs -