July 5, 2022 

Gold Enters Major Bull Market


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 By Michael Miller

07/21/2020  5:26PM

No Topic on our 20 plus year old FORUM has more entries than this one, 63. Bluejay introduced the topic on 11/27/2002.

Sequestered and bored with massive amount of fluff in print? Get comfortable, click on number 63 and study this interesting golden history.
 By bluejay

07/21/2020  7:33AM

Be prepared.

The Dollar appears to be breaking down under an important 1000 day moving average line at 96.00.

In the past, the Dollar's weakness has motivated a higher gold price. Gold's strength this morning is in anticipation of the beginning of Dollar weakness. Markets these days are joined with greater volatility that most folks are used to.

Unprecedented volatility could easily join future bullish surges in this market as the 1913 creation on Jekyll Island of the Federal Reserve appears to be imploding with its current reckless behavior of giving away the nation's wealth to a select group of financially connected people and institutions who are basically robbing the people.

Under these free give aways, it is just a matter of time before the "Piper has to be paid."

Once enough people realize that there is an unaccounted amount of $21,000,000,000 debt not being reported by the Treasury which is strongly suspected to exist by Dr. Mark Skidmore from Michigan State University, with his work being supported by the University, where do you think gold is headed?
 By bluejay

07/20/2020  3:07PM

Here is an answer to a Scoop inquiry concerning silver from July of last year.

Silver's future at no time has looked any better than it has in the past few weeks.

The biggest factor is J.P. Morgan getting kicked to the curb with their shorting strategy. This has resulted from its decreasing long positions to just over 100,000,000 ounces as a result of deliveries being called for against their forward sales.

Morgan used their higher than now silver long positions to stay in place as a safety net. Now with more deliveries being required their shorting game they have been playing appears to be finished.

So, the lid that has held silver below $20 for so long looks to have been removed. In addition, the silver price over $19 looks quite positive on its daily chart.

For those of you who listened to the James Sinclair interview on usawatchdog.com you might remember what comment he made concerning silver, "when gold goes, silver will be like gold on steroids."
 By bluejay

07/15/2020  8:01AM

The last paragraph in the previous entry is quoted from Wikipedia.
 By bluejay

07/15/2020  7:58AM

In May of 1999 issue was taken with Gordon Brown's decision as Chancellor of the Exchequer of England to sell off part of his country's dwindling gold reserves. Today, it was learned that the Russians have sold about 65 tons of gold so far this year, mostly to England.

Gordon at the time justified the sale as being the smart thing to do as the funds from the gold sale would be invested in English government bonds which would yield a return, something that gold was not providing.

What a pathetic irresponsible government financial freak show. Gordon probably secured the cheaply sold gold for himself or his friends at the great expense of the English people.

It is speculated that there is a shadow state inside many world governments that steal from their citizen on a regular basis.

Just recently Mark Skidmore from Michigan State University has determined that there is $21,000,000,000(yes trillion) that passed through the Pentagon unexplained. Recorded turnover of about $90,000,000,000 in issuing new debt instruments and redemptions on a yearly basis strongly indicates that the Treasury has more outstanding debt than it is stating. This most probably was the source of the missing money.

So it would strongly appear that the Treasury/Pentagon have bypassed Congress's approval which the Constitution requires. What was the destination of all this unaccounted money?

Jim Sinclair from jsmineset.com recently explained the arithmetic that supports his gold predicted price of $87,500 which includes the debt behind the U.S. Dollar of $23,000,000,000 in his arithmetic, "the gold price must equal U.S. debt based on our reserves." Now what happens to his formula with the missing $21 trillion?

It is appropriate to note that two previous calls for a higher gold prices by Mr. Sinclair using the same formula have come to fruition when gold traded up to about $900 and through the $1650 level in years back(a usawatchdog.com video is still available on the site for greater detail where Mr. Sinclair is interviewed by Greg Hunter).

Theoretically, based on the possibility of no gold being in Fort Knox and this missing trillions being true, you are looking at $200,000 or more for gold an ounce when this debt laden monetary experiment eventually unravels.

A video from a financial expert predicts the fall of the Dollar by year's end. It is the most current video presentation at usawatchdog.com.

You will never hear any of this from the controlled nightly TV news outlets. These people run commercials with actors that don't honestly represent our diversity of ethnic races in our country, they exclude Hispanics and Asians on a regular basis.

In May 1999, then-Chancellor of the Exchequer Gordon Brown announced plans to sell off 415 tonnes of gold in order to diversify the country's reserves owing to the volatile value of gold.[3] The first series of sales amounting to 125 tonnes took place in the year 2000 across five auctions with each selling 25 tonnes.[4] By the end of 2002, UK gold reserves dropped to 355.25 tonnes while at the same time the value of gold increased dramatically leading to an estimated loss of £2,000,000,000 from the gold sold.[5]
 By Michael Miller

06/19/2020  12:51PM

Discussions on GOLD fascinate me for the diverse content. Those involved include, analysts, stock people, banking people, investment advisors, human interest people, environmental souls, gold bugs of various size and importance, con men and these others: fibber, prevaricator, deceiver, storyteller, bullshitter. The ones less open to discussions are the gold miners and gold producing operators.

Bluejay and fellow website readers, OSTO and I are in the last group. I promise to respond to the last entry next week. If you have specific questions, post them.
 By bluejay

06/17/2020  3:12PM

June 17, 2020 Wood-Mackenzie(Canada)

In a report published Wednesday, Rory Townsend, head of gold research at the research firm, said that the mining sector needs to invest $37 billion by 2025 if the sector wants to maintain production levels(3300 tons) reported in 2019. He added that the idea of peak gold continues to grow as companies haven’t replaced current production.
 By bluejay

05/29/2020  2:07PM

Suggest everyone pull up Greg Hunter's recent interview of Bill Colter and Jim Sinclair from his site, USWatchdog.com.

The bottom line will JOLT you.
 By bluejay

04/25/2020  6:32PM

typo error on following

5th line, Witco.com s/b kitco.com
 By bluejay

04/25/2020  6:11PM

The MarketWatch Continuous Contract Price for gold will be used now instead of the kitco.com spot price.


MarketWatch price $1745.70

Witco.com price $1729.50

It is viewed both published prices are not realistic and are far under what they should be trading for.

A question is where do you buy gold for the stated spot price when coin stores are selling one ounce units for far more than the spot price.

Buying a continuous gold contract isn't realistic because the commodity exchanges are having trouble delivering gold on demand when the contracts come due.

One of the reliable places to add to your physical gold holdings is by buying gold related items on eBay. They have been in business for years with no reported delivery problems, especially on the gold coins.

The two types of gold coins are bullion and numismatic coins. Recently, when attempting to buy a Buffalo U.S bullion coin I had to identify my buyers status, I refused. When I have purchased some $20 Double Eagle gold coins in past weeks there was no special identification required.

Is eBay collecting identifications of who is buying gold bullion coins for some reason?
Will someone or some entity be requesting this list in the future? It will either be the government or by a court order and for what purpose? Are the country's gold reserves still in their acclaimed place?

Bank of America recently forecast a future price of $3000 for gold within 18 months. An extremely bold forecast by a U.S. bank. Is their Merrill Lynch subsidiary quitely buying gold for the bank to later sell to their customers? JimRogers stated recently that based on current money supply that the price of the metal should be at least $2,800.

We all are aware of the gold price suppression games that has been going on for years. Are those games coming to an end?

Back to buying gold numismatic $20 Double Eagles at prices believed to be far below realistic levels.

A recent question by a Swiss banker, "the price of gold is not that important, what is important is how many ounces you physically own"
 By bluejay

04/09/2020  12:39PM

Pierre Lassonde says in a kitco.com interview yesterday that gold’s expected advance will increase the values of gold mining companies in the multiples.

Someone must be listening to him as the shares of Newmont Mining this morning exploded.
 By dickdavis

09/23/2019  4:16AM

This price history may be of interest:

 By bluejay

09/22/2019  9:27AM

For the 20-year period, gold has returned more than 485 percent, beating Warren’s Berkshire Hathaway, which was up 426 percent. Not only that, but gold royalty and streaming company Franco-Nevada, has beaten Buffett too.
 By bluejay

07/17/2019  2:41AM

I believe China has been buying silver for months. Silver is way undervalued.

07/16/2019  3:47AM

Welcome back Bluejay. What do you foresee for silver? Every writer about precious metals makes a huge point that silver lags well behind gold. They write expecting a major increase in spot. The silver miners are having a hard time operating. Does supply and demand enter into spot pricing or is it about long/short positions, or other topics.

The expectations support that a dramatic move will occur. What people or institutions have major long or short positions?

Why would anyone think that a short silver position is smart?
 By bluejay

07/13/2019  1:23PM

Gold pushing above $1370 is favorable for the metal and prepares it for its next major intermediate advance within its current bull market.

06/21/2019  1:16PM

Pundits: love ‘em or leave ‘em or be entertained and educated. In a matter of days the gold market looks different from is narrow and predictable behavior. Some pundits write, “The gold market has totally changed.” Maybe but I am always aware of Lee Erdahl’s past director (check website for past directors history) sage advice. “When asked about the future spot price of gold, I advise you say that you know one fact for certain: it will go up and it will go down.”

Gold has its interventionists on both sides. It is an expensive playground and very serious. If I were a bear, I would not be piggy. If I were a bull, my horns would be digging in the ground, my eyes would be alert and I would buck any rider off my back..
 By Michael Miller

01/11/2019  3:29PM

Numerous gold reports are coming my way for year 2019. One common remark is: market risk and economic growth to drive gold in 2019. Gold demand will benefit from the interplay of market risk and economic growth. Financial market instability, monetary policy with the US dollar and structural economic reforms are cited as a backdrop: “gold will become even more relevant due to its proven track record for delivering returns.” Perceptions about gold are always included in futuristic expectations.

“Gold will be supported by the development of the middle class in emerging markets for its role as an asset of last resort.” The ever-expanding use of gold in technological applications is also a point of interest. Central bank demand for gold in 2018 was the highest since 2015, as a wider set of countries added gold to their foreign reserves for diversification and safety (fiat currency risk). China and India remain pro gold.

Gold speculative positioning in future markets remains low by historical standards, hitting record lows in the closing months of 2018. What about those shorts? United States investment and non-investment men and women generally avoid gold. Yes avoid gold until the media and money talkers rant on about its importance (which it is); however the public moves into gold right at or very near the top. How sad and predictable! My industry, those of us that actually mine the stuff, are actually in small numbers compared to the gurus: more details upcoming. It’s good to be back on the FORUM.
 By Michael Miller

09/14/2018  10:42AM

Argentina’s New Export Tax Could Hurt Yamana’s Cashflow

Less than two weeks ago, Argentina proposed a 12 percent tax on all exports out of the country as part of a plan to correct economic turmoil that has sent the peso to record lows. The tax will be capped at four peso for each US dollar of bullion and unrefined gold and at three peso for each dollar of unrefined metals.

“While the company’s favorable positioning relative to production and costs bodes well for the near and medium term, Argentina’s export tax has the potential to offset a portion of these benefits,” said Daniel Racine, president and CEO.
Racine notes that the company will work to seek a constructive resolution for both parties by determining if and how the tax will be applied. Unfortunately for Yamana, its share price was negatively affected by the September 3rd announcement and its stock lost approximately 17 percent of its value as result.
 By Michael Miller

05/03/2018  10:10AM

Published 3rd May 2018 World Gold council

Gold demand of 973.5t was the lowest Q1 since 2008. The main cause was a fall in investment demand for gold bars and gold-backed ETFs, partly due to range-bound gold prices.

Jewelry demand was steady at 487.7t, as growth in China and the US compensated for weaker Indian demand. Technology demand extended its recent upward trend. The total supply of gold increased by 3% to 1,063.5t, primarily due to a modest increase in producer hedging. Mine production was fractionally higher at 770t.

China, Germany and the US drove weakness in bar and coin investment. Global demand fell 15% to 254.9t as range-bound gold prices undermined investor interest.

ETFs saw a fifth consecutive quarter of inflows. Holdings grew 32.4t, due to growth in US-listed funds. Q1 investment was mixed, with rising interest rates on the one hand and a sharp spike in stock market volatility on the other.

Global jewelry demand was roughly flat at 487.7t. China was buoyed by holiday spending and the supportive economic backdrop improved US demand. By contrast, Indian consumers were discouraged by rising local gold prices.

Central banks added 116.5t to global official reserves in Q1. This was the highest Q1 total for four years and in line with long-term average quarterly purchases of 114.9t since Q1 2010.

Demand for gold in the technology sector continued to improve. The wireless sector was a key area of growth as facial recognition is increasingly deployed in smartphones, gaming consoles and security systems.

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