May not have to wait that long Moosie. Looks good for a crack at $1250 tonight.
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Geez talk about mis-leading title China imports drop 42% yet read the short article and they are talking about one month and just through HK ..the two comments at the bottom sum it up...
#1-"Of course, what do you expect? Shenzhen stopped all the NDF players from playing around with the gold bullion import and export!"
#2-Misleading title. These are just imports from Hong Kong, for 1 month (November). A total of 54.8 tonnes less that month. But the Shanghai exchange was drained of 55 tons in one week alone recently.
****http://www.ingoldwetrust.ch/sge-deli...-2128-tons-ytd
Cracks me up the whole Anti-PM media drive of late they never want to talk about the records set at most National Bullion Mints during 2013 only how bad it's going to be if you continue to hold or buy..
Nobody esp major media can explain the price reaction in view of the insatiable physical demand from the east. The only possible explanation is a divide between physical and paper gold. Physical gold is been hypothecated for paper gold and sold multiple times, creating the illusion of more offer, while the physical
holdings are diminishing. Read the fine print on your Gold ETF, when push comes to shove, you don’t own gold, you own a piece of paper.
JB,
My info came from the South China Morning Post, not a miniscule, suspect goldbug website.
UK car sales and NZ car sales have both hit 5 year highs, it's all good. I went to look at a new Holden Colorado LTZ ute the other day, none available at the moment, the dealership sold 24 in December. $62,000 + accessories.
Best total NZ car sales since 1984.
Yep, the Great Depression is on us. lol
They reckon Holden will still be around but made elsewhere. I've also been interested in a Ford Ranger Wildtrak, but each time I drop into a dealership they never have one, all sold in advance. I've never actually seen one.
Numbers keep popping up on my iPhone, latest German employment numbers better than expected, US car sales up 8% for the year. Gold's headed for the skids.
Yeah I agree 100%.... tens of millions of oz of PM's are being soaked up not just in Investment form in record numbers but in Industrial demand Iphones,Ipads,auto ECU's + 1,000s more different Applications now Gold not so much with the biggest buyer the Jewelry industries which soaks up round 2000tons p.a(which is as I'm sure you can understand is a vast amount of the 2600-2700 tons per year of world production) but with current low prices production is falling and if it stays round these levels whats left of the Gold mining industry will be doing well to keep the Jewelry market happy
I know your not a fan of facts but here is some on Gold facts
http://www.goldfacts.org/en/faqs/#q_...r_gold_jewelry
But personal Silver will be the PM that will really fly on the back of booming demand....
you really would have to have your head in the sand if you think the PM's are just a doomsday investment
Not to worry, they're digging it out of the ground like never before.
Record Production:While demand for gold is fragile currently, the sector has come up with record production this year leading to about25% fallin prices. As per Reuters, despite falling prices, gold miners are binging on volumes to improve revenues in order to spread out its huge fixed asset base. Analysts are expecting gold mining output to cross 3,000 tons a year for the first time in 2014. There is little chance of production cuts before 2015.
Read more: http://www.nasdaq.com/article/can-go...#ixzz2pk7Dpjab
Yes production could well be a record this year on many factors one being the miners going to their higher grades resources to help lower
costs to keep shareholders happy(esp when it comes to raising extra Capital to survive) also trying to increase through put to also help keep the companies afloat ....but this is pure short term so many producers have ceased exploration and likely cut corners to keep costs down....all pure short term but will damage miners mid-longer term once their resource grades decrease and mines are exhausted much faster unless PM prices head far higher ....the GOLD Fields CEO stated years ago to replace their current minable reserves going forward would cost so much to be uneconomic unless the Gold price was north of $2000oz ..so many miners just won't have the funds to replace reserves till a higher PM prices
From memory it takes round 10yrs to take a green field exploration target to a producing mine....that along with 100mill+ spend on the small mines before seeing as much if any metal produced,,,,,,,, then ramp-up can last years of teething issues (I know as two of my producers have and continue to have issues)
we Know DEMAND is currently Huge ...But Production is far from strong esp as Huge Capital is needed to continue ..not increase but to continue to meet demand p.a and as we know PM miners/explorers are seen as a TOXIC investment this days ..worst sentiment in decades