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Something BIG Happening With Gold and Silver
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ANNONYMOUS
User ID: 661006
 United States
11/3/2009 10:43 AM
Report abusive post | Something BIG Happening With Gold and Silver
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Kitco is showing that both Gold and Silver are WAY up in the last 5 min.. Gold up $15. and Silver up $.30. Anybody got any info on this? |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:45 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks. |
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Anonymous Coward
User ID: 743646
United States
11/3/2009 10:46 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks. Quoting: Anonymous Coward 809439
Selling causes it's price to rise? |
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Anonymous Coward
User ID: 770865
United States
11/3/2009 10:46 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks. Quoting: Anonymous Coward 809439
200 but that's old news... |
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Anonymous Coward
User ID: 770865
United States
11/3/2009 10:47 AM | |
Anonymous Coward
User ID: 768480
 Mexico
11/3/2009 10:47 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Kitco is showing that both Gold and Silver are WAY up in the last 5 min.. Gold up $15. and Silver up $.30. Anybody got any info on this? Quoting: ANNONYMOUS 661006
DOOM IS GOING ON !! |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:48 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Another interesting thing happening - dollar UP and Gold Up at the same time...Hmmm. Maybe all of this fake gold they are finding is making investors realize there is much less of it around than what was originally thought. |
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Anonymous Coward
User ID: 809444
United States
11/3/2009 10:48 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks.
200 but that's old news... Quoting: Anonymous Coward 770865
While someone is selling it, there has to be a buyer too.... |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:48 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks.
200 but that's old news... Quoting: Anonymous Coward 770865
yep...thanks for the correction. |
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Anonymous Coward
User ID: 770865
United States
11/3/2009 10:49 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Another interesting thing happening - dollar UP and Gold Up at the same time...Hmmm. Maybe all of this fake gold they are finding is making investors realize there is much less of it around than what was originally thought. Quoting: Anonymous Coward 809439
I think the USD is up because RBS in Europe got bailed out last night |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:49 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
IMF selling the 2000tons gold to India me thinks.
Selling causes it's price to rise? Quoting: Anonymous Coward 743646
If it is going to India, then it is not available for the regular investors...essentially keep supply tight. |
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Anonymous Coward
User ID: 786350
United States
11/3/2009 10:50 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
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bill shitters 
User ID: 809255
 United Kingdom
11/3/2009 10:51 AM
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are we in the twilight zone i thought 200 tons on the market causes the price sag a tad
The retired thread killer
we come in peace shoot to kill
[link to au.youtube.com] |
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Anonymous Coward
User ID: 770865
United States
11/3/2009 10:52 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
are we in the twilight zone i thought 200 tons on the market causes the price sag a tad Quoting: bill shitters
Not when the smart money is trying to dump dollars... |
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Anonymous Coward
User ID: 716446
United States
11/3/2009 10:52 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
well, that's not the 52 week high for silver...
initially i thought it was because a drop in the dollar today, but i looked at the dollar index and it's up big....usually they are inversely proportional....this is a bit strange. |
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Anonymous Coward
User ID: 804973
 Hungary
11/3/2009 10:52 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Gold 1082, hmm... |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:53 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Gold 1082, hmm... Quoting: Anonymous Coward 804973
BREAKOUT BABY!!!! OOOHHH YEAH! |
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Anonymous Coward
User ID: 555008
United States
11/3/2009 10:53 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
The IMF sale was said to be a part of the latest Washington Agreement and I suppose it could be classified as such. But the fact that the Indian Central Bank bought such a large amount so quickly shows just how in demand physical gold is.
It’s starting ladies and gentlemen. Central banks will be, or are, clamouring over each other for physical gold and as Paul Tudor Jones put it there simply won’t be enough gold to go around in a few years when it’s really needed. Also Barrick who is notoriously well connected through their impressive compilation of board of directors mentioned they could well cover their hedges well before their 1 year timeline. While they have been dead wrong to date this panic to get out of the hedges at all costs now is a huge signal. A hugely bullish signal. Got Gold? |
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ANNONYMOUS
User ID: 661006 (OP)
United States
11/3/2009 10:53 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Kitco Gold up $20 Siver up $.62 |
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Anonymous Coward
User ID: 806142
United States
11/3/2009 10:55 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
people are trying to get real physical gold.. that is turning out to be very hard as each oz of physical has many paper claims against it.. call it the unraveling.. |
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Anonymous Coward
User ID: 809439
United States
11/3/2009 10:58 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
I predict Gold $1100 by week's end.. $1500 by Christmas. |
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Anonymous Coward
User ID: 555008
United States
11/3/2009 11:00 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
India is buying 200 tons of gold from the International Monetary Fund for around $6.7 billion, almost half of the 403.3 tons that the IMF has agreed to sell to boosts its capital.
The Reserve Bank of India sale involved daily purchases from October 19-30 at market prices, said a statement from the IMF, an average price of $1,045 per ounce.
Bullish for gold
Gold guru Jim Sinclair immediately commented: ‘This is extremely bullish for Gold as it proves our point that central banks would take all and any gold that becomes available for sale’.
Observers will be surprised not to see China snapping up the IMF gold, and of course China might emerge as the buyer of the remaining hoard. China has boosted its gold reserves by 76 per cent to 1,054 tons worth around $32 billion since 2003, officials said in April.
The Indian gold purchase also represents a diversification away from the US dollar, although gold reserves of $10.3 billion are still small by comparison to $268 billion in foreign currency.
Recent encouragement from the Chinese government to its citizens to buy precious metals has been seen as putting a floor under gold prices, and the Indian purchase of IMF bullion can be noted as another substantial put option.
Traditional wealth
Gold has long been a traditional store of value in India where bridal jewelry still represents a reserve of the precious metal far above those held in the vaults of the Reserve Bank of India.
But in Dubai sales of jewelry are substantially down this year as Indians are also shrewd buyers and do not like to buy when the price of gold is high. Perhaps the Reserve Bank of India’s gold purchase will now convince the public that gold prices are not going to get any cheaper and bring them back to the souks. |
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ANNONYMOUS
User ID: 661006 (OP)
United States
11/3/2009 11:09 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
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Traveler
User ID: 809465
United States
11/3/2009 11:13 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
One other thing to watch for here is that banks are very large naked shorts in Comex for gold, large positions that they have used over the years to manipulate the price down. Now they are beging squeezed on the contracts and also are having to deliver gold which they do not have.
I know people have mixed feelings on the web bot efforts but they have talked about a Comex default and possible shutdown either in the gold or the silver contracts.
Coupd this with all the stories about gold being sold to multiple parties and you get the chance for a Perfect Storm. |
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Falconia
User ID: 809461
United States
11/3/2009 11:13 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
Holy crxp! Just checked and you are spot on! Maybe India, maybe it's the reported gold shortage and fake boullion. But somethings up. |
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GlassPearls
GlassPearls
User ID: 613866
United States
11/3/2009 11:19 AM
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It's all these things (fakes, fleeing dollar, banking issues) that are behind the longer term trend.
Me thinks today, shorts covered based on the bullish news from India. Between that and the China put, gold has a floor at the $1040 -- 1065 range. Would not be surprised to see $1100 soon, then a pullback into the range I cited. IMHO.
Last Edited by GlassPearls on 11/3/2009 at 11:19 AM |
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Anonymous Coward
User ID: 768480
Mexico
11/3/2009 11:21 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
You people dont get it !!
It IS NOT about who is selling or buying BUT WHY !!
Does IMF need money ?? NO much !!
Does India need gold ?? Very much , their needs could explode the price world wide any time , India has been have controlling gold imports through India Central Bank for a while but demand is HUGE !!!
They have been recycling gold but it is never enough for India population !!
WATCH SILVER TOO !! |
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GlassPearls
GlassPearls
User ID: 613866
United States
11/3/2009 11:22 AM
| | Re: Something BIG Happening With Gold and Silver | Quote |
One other thing to watch for here is that banks are very large naked shorts in Comex for gold, large positions that they have used over the years to manipulate the price down. Now they are beging squeezed on the contracts and also are having to deliver gold which they do not have.
I know people have mixed feelings on the web bot efforts but they have talked about a Comex default and possible shutdown either in the gold or the silver contracts.
Coupd this with all the stories about gold being sold to multiple parties and you get the chance for a Perfect Storm. Quoting: Traveler
This is true. Read an article recently where the long side of the shorts held by JPM is actually the ETFs -- not physical. It's a completely overbought, fraudulent scheme. Wise buyers are demanding the real deal, not more paper crap. |
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GlassPearls
GlassPearls
User ID: 613866
United States
11/3/2009 11:25 AM
| | Re: Something BIG Happening With Gold and Silver | Quote |
You people dont get it !!
It IS NOT about who is selling or buying BUT WHY !!
Does IMF need money ?? NO much !!
Does India need gold ?? Very much , their needs could explode the price world wide any time , India has been have controlling gold imports through India Central Bank for a while but demand is HUGE !!!
They have been recycling gold but it is never enough for India population !!
WATCH SILVER TOO !! Quoting: Anonymous Coward 768480
While Indian citizens always have provided strong demand, 200 tons is a lot of jewelery. As for the IMF, didn't they just loan Iceland a bunch? How do we know they didn't need to raise more for the next country that needs assistance? Just asking. |
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Anonymous Coward
User ID: 65489
United States
11/3/2009 11:36 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
chart patterns seem to suggest that gold is poised for a $300 or more upleg vs the up till now measly $50 uptick once it cracked the $1000 USD level. this move up has not been unexpected. |
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Anonymous Coward
User ID: 768480
Mexico
11/3/2009 11:39 AM | | Re: Something BIG Happening With Gold and Silver | Quote |
You people dont get it !!
:angry face:
It IS NOT about who is selling or buying BUT WHY !!
Does IMF need money ?? NO much !!
Does India need gold ?? Very much , their needs could explode the price world wide any time , India has been have controlling gold imports through India Central Bank for a while but demand is HUGE !!!
They have been recycling gold but it is never enough for India population !!
WATCH SILVER TOO !!
While Indian citizens always have provided strong demand, 200 tons is a lot of jewelery. As for the IMF, didn't they just loan Iceland a bunch? How do we know they didn't need to raise more for the next country that needs assistance? Just asking. Quoting: Glass Pearls
IMF IS A PAPER WORLD BANK !! THEY HAVE NO assets but the back up from US / Asia / Europe Banks .
IMF' main goal is avoid any country risk to meltdown which could provoke a domino effect with catastrophic consequences !! in the other hand they help to maintain currencies value stable (as much as possible) AND GOLD IS A CURRENCY , THEY CAN ISSUE PAPPER GOLD (derivatives, futures ,swaps and other idiotic forms of gold) to control the price/demand BUT they CAN'T supply physical GOLD !!
In other words : IMF is helping to control Dollar price with cheap US Gold ....for a while or short term .
That gold did belong to US Govt. |
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