The (financial) world is currently long in questions but short in answers. We believe that gold is still one of the few right answers in times of chronic uncertainty.
Gold is a highly emotional topic. It seems there are only two opposing fronts here: People who love gold (aka gold bugs), and People who hate it.
There are only very few shades of grey between these two fronts, and People are extremely hesitant to defect from one to the other. It seems as if we were faced with something like “aurophobia“
1, especially in the financialsector. This pathological fear of, or aggression towards, gold does not seem to exist for any other commodity. After all, we have not heard of such a profound aversion against copper, we do not know “bond haters”, nor are militant property bashers a popular concept. We regard ourselves as analysts rather than psychotherapists, which is why we do not really want to do well on the reasons for that strong aversion. Instead we would like to continue substantiating with data, historical comparisons, and facts why we believe that gold should be a central module of the portfolio -
Gold as portfolio insurance Gold mining shares with historically low valuations Risk/return profile of gold investments remains very favorable Next target price at USD 2,000 At the end of the parabolic trend phase we expect at least USD 2,300/ounce -
Caledonia Mining Corp.'s drills are turning at Nama Great Copper and Cobalt Project Nama Group of Licences, Zambia -
Exploration activities by Caledonia at Nama during 2010 resulted in the definition of two resource target areas ("Konkola East" and "Kafwira") characterized as belonging to the Ore Shale-hosted copper-cobalt style of mineralization.
These targets will be investigated further during the 2011 exploration field season, including a drilling program of diamond drill-holes to confirm the existence of Copperbelt stratigraphy within the two target areas.
Drilling of the first of four holes at the Konkola East target
area commenced in early March 2011 and the results of this
program are expected to be received in mid-2011. :-)
E.g.,,,, China, Zambia Sign a $600 Million Copper Waste Pact (Bloomberg) Updated: 2010-04-14 09:38 Counter:264
China Nonferrous Metals Co. Ltd. and Zambia Copper Mines Investment Holdings signed an agreement to extract copper from mine waste at the African nation's Mufulira tailings dam project.
The Chinese company may invest as much as $600 million in the project, situated north of the capital, Lusaka, Luo Tao, chairman of the Chinese company, said yesterday. The investment depends on feasibility studies to be conducted at a cost of about $5 million, he said.
Zambia is Africa's largest copper producer. The nation's output of the metal rose from 576,400 metric tons in 2008 to 667,173 tons last year, according to Mines Minister Maxwell Mwale. Zambia is targeting copper production of 1 million tons within the next five years, the minister has said.
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CAL's Blanket Gold Mines commenced the production ramp-up to the targeted annualized rate of 60,000 ounces of gold by the end of 2011 :-)
With gold hitting new all-time highs yesterday in dollars, euros and pounds, today King World News interviewed legendary trader Jim Sinclair and Dan Norcini to get their take on where things stand in the gold market. When Sinclair was asked about the action in gold he stated -
GOLD - Focus prices as high as $12,000, so we are are approaching the most critical milestone in the entire gold bull market.
Sinclair continues: “The Republicans want to raise the debt ceiling, but not enough to take the US through the next election. When B.S.-Obama walked out of the meeting two days ago it was just on that point where he slammed his chair into the table and walked out. It’s being talked about as if that were standard procedure, as if that was the way things are, and in truth it is the way things are. The debt crisis has resolved itself unto a political platform and the political platform is not in the economic best interest of the nation, but rather in the best interest of the timing of another election and as a result of that the market (in gold) yesterday broke to a new high. This situation could be one of the catalysts to take out $1,764. It will be reasonable to assume that every effort will be made not to allow gold to get through that price. When it gets through that level gold will start jumping $100 to $200 a day. $1,764 should put up the biggest battle of the entire bull market. The number where confidence is lost is $1,764. Through that level you trigger Martin Armstrong and Alf Fields maximum numbers which will be $10,000 to $12,500, therefore expect that price level ($1,764) to be defended vigorously.”
Great CALVF chart TA
by tocotuga' on 'GOLDBUGS (AMEX:HUI) thank you Sir :-
CALVF chart TA alert Fib. Price Levels - new bull trend often 162% of the previous correction
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