Gold is looking to wrap up September with record monthly prices :-)
The yellow metal has traded over $1,000 an ounce in 12 of the 18 trading days of the month so far. And with only three business days left in September next week, the average monthly price for gold is currently $998 an ounce. This compares to March 2008, when gold prices topped the $1,000 level for the first time in history and averaged $968 for the month.
A new average monthly record is extremely bullish for gold prices right now. It is a sign that the third and final investment mania stage of the gold bull market is in bloom — that\'s when gold prices skyrocket.
And while no one knows exactly when the big breakout in gold prices will be, it sure feels like that moment\'s getting much closer.
The U.S. dollar is staring at deep trouble and has a real chance of ending up on the heap of failed fiat currencies. The inverse relationship between gold and the dollar is about to become more pronounced over the course of the next 12 months.
This alone could run gold prices to a new record high in the $1,200 to $1,500 range, providing us with an exceptional opportunity to profit and make spectacular gains.
The truth is, gold is going to go much higher — whether Wall Street gets it or not. Gold bull and contrarian author Richard Russell made some interesting observations in his Dow Theory Letters, published in September. Richard wrote:
Somewhere ahead I expect to see a worldwide panic-scramble for gold as it dawns on the world population that they have been hoodwinked by the central banks\' creation of so-called paper wealth.
I have never seen a bull market of this size end without a highly-speculative third phase explosion.
You can\'t create wealth out of a computer — you create wealth from the sweat, intelligence and risk- taking of men. Gold comes from a gold mine. A gold mine represents the expenditure of capital, risk-taking, the sweat of hundreds of men — and courage. A gold mine\'s product, gold, has represented timeless wealth since Biblical times.
No central bolshevikz 666banksterz evilz has ever produced a single ounce of gold only robbed it from the people - only destroyed it for the people -
Nor has any central 666banksterz ever produced a single element of true, sustainable wealth for the people more than golden umbrellaz for them self -
In their heart of hearts, men know this. Which is why, in experiment after experiment with fiatz money, gold has always turned out to be \'the last man standing\' :-)
elitez bolshevikz Polo-ticianz can threaten gold with forthcoming central bolshevikz banksterz sales, they can sell gold in quantity, they can smother gold with short salez, but the primary trend of gold will win out :-)
It will be expressed today, in a month or in 2010 :-) The trick for us is to hold onto our position — don\'t trade it, don\'t move in-and- out with it, don\'t hold so much of it that you get the heebie jeebies every time it dips ten dollars.
The primary long term trend of gold is UP :-)
We\'re riding the Ausome LT Golden Bull :-)
The Au bull will try to shake us off his back.
We\'ll hang on :-)
In the past few weeks, I have seen several stories in the news that indicate we\'re about to have a big run in gold prices :-)
First, I just saw that Barrick Gold (NYSE: ABX), the largest gold company in the world, will be covering their hedged gold positions. Barrick is doing a bought deal public offering to raise money to pay off the hedged positions within a year. The company will raise $3 billion to cover these obligations. It\'s clear that Barrick made this strategic decision to gain full leverage of rising gold prices.
In other news, Hong Kong has demanded all its gold reserves back from London. The country wants to store its reserves domestically in a new state-of-the-art vault. The Hong Kong Monetary Authority stated that it will also transfer gold reserves stored in other vaults around the world to the depository later this year.
This has massive implications for higher gold prices. If Asian banks start demanding their physical gold, the "paper game" the manipulative crowd has been playing for so long may soon be up in smoke.
Meanwhile, China has put a stop-loss on their derivative losses. That means firms like Goldman Sachs, who knowingly and recklessly sold this derivative garbage, may have to deal with defaults. This could turn out to be a huge development that has a major impact on higher gold prices.
These are just a few of the most recent examples of signs that we\'re about to see the next leg upwards in gold prices.
At some point, the pressure that has been building in gold for years will explode in dramatic fashion.
Unfortunately, however, it\'s impossible to know exactly when this is going to occur.
I continue to recommend staying the course with gold mining stock. It\'s going to be a ride for the record books. Be sure you don\'t get left behind. Got RMK Gold Mining Good Investing :-)
ex..dd..
mick thanks, great RMK chart alert 3mon LT strong bull run direction^/^
TI -LT - look for direction :-) were Top-line trend moving :-) becomes a mirror reflexion in 75% :-) of the new longer term runs and trends :-)
Roxmark Mines Ltd. ( RMK TSXV) is showing a bold V shaped pattern which is considered bullish. Average daily volume is 529,152 shares a day over the last three months. Yesterday it traded 1.15M shares for a total value of $264,000.
The research I conducted on Roxmark has a lot of drilling going on which means that the news stream is strong and when you are a junior mining company the value of the stock moves with new information based on activity.
While it is important to establish a solid land position and working agreements with other companies that have interest in a district, that type of news only goes so far. I would say until there is a new drilling program in the works it would be best to keep RMK on your close watch list at this point...
Roxmark Mines Ltd. ( RMK TSXV) is developing gold and molybdenum projects in the Geraldton- Beardmore Gold Camp of Ontario. I have had occasion to visit Geraldton, Ontario on business and would like nothing more than to see that community benefit from lots of new mining activity.
When I compare the two companies the dividing line is activity.
RMK is drilling and prospecting and working towards reopening a mine. When you look at the news stream for RMK in comparison to TWD its clear that they are at different stages in their development cycles. rmk2
The six month chart shows a nice spike last week on drill results reported on the Hardrock property where RMK has a 30% JV- owner interest. The stock has pulled back from the spike high and looks like it may test support at $0.20. Roxmark began a drilling program at its Northern Empire Mine in August so expect more news in the coming months. --
Roxmark's Gold is coming very soon maybe a golden opportunity
Roxmark ready to move more gold out of the ground. The time is right. The price is right and the discovery is right. Put Roxmark Mines, RMK on the TSX Venture exchange on your watch list. Put Roxmark Mines, RMK on the TSX Venture exchange on your watch list. And watch the gold grow before your eyes. Goldinground. And watch...
Philip F. Cunningham has been a director of the company since August 2004 and Chairman since May 2005 and the major shareholder of Roxmark. Mr. Cunningham was formerly executive vice president of Mackenzie Financial Corporation and chairman of Mackenzie Financial Services Inc.
ROXMARK Video presentation by chairman Philip F. Cunningham - has been a director of the company since August 2004 - and Chairman since May 2005. Mr. Cunningham is executive vice president of Mackenzie Financial Corporation and chairman of Mackenzie Financial Services Inc. He joined the Mackenzie organization in 1982 -
Mackenzie - offers more than 100 investment funds in Canada and the United States - Mackenzie - manages more than $45 billion - for over 1,000,000 investors and their financial advisors... as major shareholder for Roxmark Mines Limited -
chairman Philip F. Cunningham - has bought more and more shares of Roxmark -
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