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Gold, Discussion
nipper
post Posted: Oct 12 2020, 08:00 PM
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WA exploration flat tilt

Just over $209 million was spent on gold exploration in WA in the June 2020 quarter ... an alltime record according to the Australian Bureau of Statistics.
https://www.abc.net.au/news/2020-10-11/mode...ection=business

The surge in exploration activity is also affecting the laboratories which test the drilling samples. SGS Australia [has a] Kalgoorlie lab typically processing about 50,000 samples a month. Since June, the company has seen a dramatic increase of 30 per cent in samples.

It means companies are paying up to four times the going rate for same day turnarounds, while others can be waiting up to six weeks for their results. SGS Australia general manager of geochem, metallurgy and minerals trade Juan Smith said this year's turnaround had come
QUOTE
... faster than we expected. We have four commercial facilities around Australia, he said. Our Perth facility is doing double what our Kalgoorlie facility is.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
rlane
post Posted: Oct 2 2020, 02:51 PM
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QUOTE
In this much watch interview, Robert provides us an excellent overview of the commodities market and goes in-depth into the lack of transparency. He exposes the numerous problems with these exchanges and the lack of accountability.

https://www.youtube.com/watch?v=KyAopYlD32k

 
triage
post Posted: Sep 27 2020, 08:28 PM
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Here's a couple of articles from the big end of town. Not only do I think there are some interesting angles discussed in both articles, that they are from mainstream operators rather than the fringe, such of daily reckoning, suggests that the notion that gold is in a long term bull trend is gaining mainstream acceptance.

There's one rule of thumb that says that by the time it makes the mainstream newspapers it has already been factored into the price. But another common saying is that you need to ride a trend for as long as possible (as the crazy profits are made towards the end). Not sure which one will prove to be right in this case.

https://www.mckinsey.com/industries/metals-...mal-and-beyond#

https://www.aspistrategist.org.au/the-new-gold-rush/





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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog

Said 'Thanks' for this post: henrietta  rlane  
 
nipper
post Posted: Aug 27 2020, 10:32 AM
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my two gold index holdings up again, today .... PMGOLD and GDX
the sector has been in a bit of tizz for the last few weeks after hitting highs and getting lots of press at start of August. About a 10% retrace.
I hold the above for insurance




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
bg99
post Posted: Aug 21 2020, 12:57 PM
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In Reply To: mullokintyre's post @ Aug 21 2020, 11:11 AM

Was thinking that too Mick, well spotted

 
mullokintyre
post Posted: Aug 21 2020, 11:11 AM
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In Reply To: bg99's post @ Aug 21 2020, 08:08 AM

That chart suggests that if the pattern were to follow for silver, then silver has an even larger way to go.
Mick



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bg99
post Posted: Aug 21 2020, 08:08 AM
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In Reply To: mullokintyre's post @ Aug 17 2020, 04:36 PM

This article is worth looking at combined with the one Nipper posted Aug 15

https://www.kitco.com/commentaries/2020-08-...real-terms.html
Looks to me if the 2011 peak is to be a re-run of the 1975 peak we have a way to go yet... has a cup n handle look to it too



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mullokintyre
post Posted: Aug 17 2020, 04:36 PM
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Gold and silver both up in later day rallies.
Big question is, what will the commercials do with their paper trades tonite??
Mick



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mullokintyre
post Posted: Aug 15 2020, 09:37 AM
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My ole Mat Chuck Butler had this to say in his newsletter yesterday
QUOTE
The Kitco.com website has an interesting chart each day, they show what the price of Gold that was affected by the dollar trading, and then they show the amount of movement that was affected by "sellers"... Yesterday, the move in Gold that was caused by dollar strength, was $1.00... That alone should tell you that the boys in the band backed up their truck full-o-short trades, and unloaded them.... 575,000 contracts were traded in Gold yesterday... That's unbelievable to me... But then when the boys in the band want to take something down, they don't mess around!

The total damage done to Gold at the close of the day, was $117.90!!!! Leaving Gold at $1,910.... The good news is that maybe the boys in the band used up all their bullets yesterday, as Gold is up $25 in the early trading today...

And Silver was treated as badly as Gold, but Silver's loss of around $4.00 was a larger percentage downward move. And Silver closed at $24.76, with around 350,000 total contracts traded...

And during all this engineered takedown of both Gold & Silver, there was not a peep from the CFTC, or the COMEX, or any other entity that should have been saying things like, "we're going to investigate how this happened"... So, as Ed Steer said in his letter today, "a pox on them all"...


And therein lies the problem.
The massively large commercial banks have been screwing the system for years and not only getting away with it, but seemingly with the conivance of the regulators.

From wall street on parade


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On January 31 of this year, researchers for the Federal Reserve released a study that showed that the largest banks operating in the U.S. have been gaming their stress test results by intentionally dropping their exposure to over-the-counter derivatives in the fourth quarter. The fourth quarter data is the information used by the Federal Reserve to determine surcharges on capital for Global Systemically Important Banks, or G-SIBs.

The report, “How Do U.S. Global Systemically Important Banks Lower Their Capital Surcharges?,” was written by Jared Berry, Akber Khan, and Marcelo Rezende.

We decided to evaluate this claim for ourselves, using the quarterly derivative reports provided by the Office of the Comptroller of the Currency (OCC), the regulator of national banks. The data was appalling. The largest Wall Street banks not only dropped their level of derivatives by trillions of dollars in the fourth quarter, but they restored those derivatives by the end of the following first quarter. (See first OCC chart below which shows the largest of the top 25 banks by derivative exposure.)
On May 30, with little mainstream media attention, four European academics published a report on how some of the largest Wall Street banks (all of whom received massive amounts of secret Federal Reserve bailout money during the 2007 to 2010 financial crash) were shamelessly gaming the system again.

Rather than complying with the derivatives regulations imposed under the Dodd-Frank financial reform legislation of 2010, the Wall Street mega banks had simply moved much of their interest rate derivatives trading to their foreign subsidiaries that fall outside of U.S. regulatory reach. This is known as regulatory arbitrage: seeking the most lightly regulated jurisdiction to ply your dangerous trading activity. (Think JPMorgan’s London Whale fiasco.)

While the political pundits are putting out acres of bullshit partisan pieces about the evils of trump or the lunacies of biden/harris, the fundamental parts of the American and possibly the worlds financial systems are being systemically screwed. All so some already obscenely rich people can become even more obscenely rich.
Mick



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nipper
post Posted: Aug 15 2020, 08:16 AM
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QUOTE
The Ascent is Not a Recent Phenomenon Gold's ascent began five years ago, with interest rates low and question marks beginning to be asked about the world economy. Interest rates were kept low during and subsequent to the GFC, as a means of accelerating and maintaining economic growth, but have never been allowed to return to 'normalised' levels. There are inherent dangers in keeping interest rates too low for too long, as they create asset bubbles and lead to artificially high equity markets, as investors chase returns.


https://www.sharecafe.com.au/2020/08/14/gold-price-overview/
QUOTE
Uncertainty is really driving the gold price now .... concerns about economic growth, do central banks have enough firepower to fix the economic mess, will it make a difference, and how long COVID19 will last. If we reference the last major economic crisis, the GFC, we didn't see gold's peak until three years later. If gold prices continue to rise for another three years, predictions of $3,000 do not seem unreasonable at all.


- nice graphs too




--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
 


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