Gold

[Bobcat.]

Targeting OGC.nzx and a few asx PM stocks (TRY, PGI, BDR and EVN) to buy into at a good price before close of trading today.

Keep up the noise, Skol. If I thought your down ramping was influencing the market, I'd say "thanks for doing me a favour"...but I doubt that it is. Shorters can only run against the tide for so long before they are pushed backwards.

I'm picking a slow but sure recovery to trade up over 1310usd again by the weekend. Trading to it.

BC

[Daytr]

BRICS are forming their own bank with total capital of $150bln, in a direct assault on USD supremacy. its small in the context of things but its a start that wont sit well with the US.

[Daytr]

Also from a bank report I receive. Personally I would be a little more patient before going long just yet.

PreciousMetals:After reversing through 1334 we predicted a testof 1304, we just didn’t predict it would happen the same day. Gold sold offanother $15 overnight and the dollar rallied as Janet Yellen told lawmakersthat the U.S. economy is on a solid trajectory. The selloff has been a case ofclassic position liquidation. We can’t imagine anyone who bought last week’sbreak is still long. So with positioning much cleaner and a heck of a lot ofgold having changed hands from 1306-1310 (approx 9 million ounces worth offutures) we think risk/reward now favours long positioning.

[Skol]

BRICS are forming their own bank with total capital of $150bln, in a direct assault on USD supremacy. its small in the context of things but its a start that wont sit well with the US.

Daytr's a laugh a minute. $150bn. lol

The 2 largest hedge funds in the USA probably have that amount under management, let alone the entire US banking system. Hard to believe Daytr was an influential gold trader - according to him. Think he might be a little out of touch with the real world.

Janet Yellen's probably having a sleepless night. LOL

[Daytr]

It was only a matter of time before someone launched a digital currency backed by gold. This sort of thing may give digital currencies some longevity. I see it really as just an ETF for retail.



http://www.reuters.com/article/2014/...0FL2NB20140716

[pietrade]

and then there's this interesting insight to explain the recent activity.

http://www.paulcraigroberts.org/2014...rrorism-comex/

[Skol]

and then there's this interesting insight to explain the recent activity.

http://www.paulcraigroberts.org/2014...rrorism-comex/

More goldbug conspiracy theories.

[Bobcat.]

More goldbug conspiracy theories.

Paul Roberts does have some decent credentials, Skol - including Assistant Secretary of the US Treasury for Economic Policy and associate editor of the Wall Street Journal. Why are you so quick to write off his views? Is it merely because they don't line up with your own?

[Daytr]

I don't really buy it BC, in my days in banking I didn't see banks take these sort of positions in gold, too big for their risk appetite in a reasonably illiquid market, I also don't buy into the tie to the Fed or US gov't. I think gold can do well without the need for conspiracy theories. IMO the activity is far more likely to be that of hedge funds as that is what they are known for & I have seen & executed large orders for them trying to shunt the market. The banks that execute the trade may very well piggy back their own positions, creating even larger volume.

[clip]

It was only a matter of time before someone launched a digital currency backed by gold. This sort of thing may give digital currencies some longevity. I see it really as just an ETF for retail.

http://www.reuters.com/article/2014/...0FL2NB20140716

Each coin being worth 0.00000035oz (3.5oz gold, 10m coins) - at current spot price $1304/oz gold, each coin currently worth USD$0.0004564. What a waste of time lol.
Along with the hundreds of 'scrypt' / alternate coins to bitcoin, don't see the point of creating another one - especially that number of coins backed by such a small amount of gold.