Gold

[tricha]

tricha,

The goldbugs as usual are making a mountain out of a molehill, the Bundesbank have already stated, they have no concerns over access, there's no hurry.

If it was brought home in a week this would be headlines from KWN or Jim Sinclair:

BUNDESBANK REPATRIATES GOLD BEFORE GLOBAL FINANCIAL MELTDOWN.

lol

you are onto it Skol

[peat]

Someone suggested that the US Treasury could mint a 1 trillion dollar coin in platinum and use that to pay some bills. It would be like QE, not inflationary.

Bernanke refused to give this idea 'any oxygen'

[Skol]

tricha,

What happened to peak oil, great depression 2, gold goes exponential as everyone on Earth gets poor, and all your other prophecies of doom?

A big fat zero, the ones making the moolah for the last 18 months are those that own equities. Very nice, in fact the last time it was so good was about 1991 after I bought shares following the 1987 crash.

Gold's like peak oil, a fizzer.

[elZorro]

Equedia article today: looks to be more to the story.

http://campaign.r20.constantcontact....6U5Gzohtt1U%3D

Bigger miners have performed a lot better than the S&P500 index.

http://www.caseyresearch.com/cdd/yel...think#section0

[Skol]

Another nail in the gold coffin.


21 January 2013 Last updated at 16:23 GMT

India raises gold import tax to tackle trade deficit Many Indians buy gold as a hedge against inflation.


India has raised import duties on gold by a half to try to rein in demand for the precious metal.

The import tax is rising from 4% to 6%, a year after doubling from 2% to 4%.

The Indian government wants to curb imports of gold to try to help reduce the country's current account deficit, which hit a record 5.4% of total economic output between July and September last year.

India is the biggest importer of gold in the world.

Many Indians buy gold jewellery and coins to protect the value of their money in the face of inflation.

"It is difficult to establish the impact [of the tax] on the deficit and by how much it will come down, but there will be some moderation in gold demand," said Economic Affairs Secretary Arvind Mayaram.

"The duties will be reviewed after some time if there is a moderation in the quantity of gold that is imported into the country."

Last year's rise in import duty only had a temporary impact on demand, and some analysts said the latest move would have little effect.

[skid]

Citibank cuts its gold forcast and Goldmans predicts a gold rally--go figure..gold steady ATM

[Skol]

As usual the goldbug conspiracy loonies claimed that when the Bundesbank repatriated the gold, it was missing, stolen or has been 'rehypothecated' lol.

This a copy and paste from Jon Nadler's post:

"More importantly, Fritsch launched a broadside on the conspiracy theorists’ fatally flawed arguments that the move was somehow indicative of a huge amount of missing bullion and/or of a terminal distrust of the Fed or fear of U.S. collapse. It was in fact, partially the Bundesbank’s own fault that such wild fairytales were born, to begin with. The central bank did not conduct recurring audits of its golden stash. As for the Zero Hedge style reality-challenged claptrap that implies that Germany was somehow “denied access to its gold because it isn’t there to begin with because it has all been lent out,” The Bundesbank’s Carl-Ludwig Thiele (a board member) remarked in a Frankfurt press conference that “Everywhere we were welcomed with open arms. We were shown the inventory lists and inspected individual gold bars, which were then crosschecked with those lists.” Sounds like an open and shut case to us, folks."


Another conspiracy theory debunked, next one please.

[JBmurc]

Attachment 4281


Japan goal is to create 108billion per month till they an average 2% inflation rate.......

the US creates 80+billion is every month to keep the dollar alive....

[elZorro]

That's amazing JB, a very tight correlation showing that as the central banks create more fiat currencies to shore up their balance sheets, US$ gold is increasing in value to match it. It's a strong trend, looks compelling as a reason for the gold price. The source for this might be:

http://www.financialsense.com/contri...-255-per-ounce

This article is dated early 2012, and as we know gold has not reached the heights you'd expect from the correlation. The latest QE3 should be helping it along though, as we are seeing.

http://www.arabianmoney.net/gold-sil...e-in-50-years/

[Skol]

EZ,

But gold isn't going up is it?

Why?