Whats realy happening in the gold market?

[GoldCompany]

COMEX Default Increasing

Adefault can occur if too many longs stand for delivery. This very well could happen and the likelihood has risen in just the last 2 trading days as open interest has increased rather than decreased. If 10% of the longs stood for delivery in Silver, the inventory would be wiped out.

Goldman Lacks Morality

Apparently, the investors who were quick to jump on the bandwagon with this statement have short-term memory loss. Are we forgetting about the subprime mortgage scandal that was just a few years ago? Shortly after the worst recession in U.S. history bottomed markets, allegations arose of Goldman defrauding investors. But the reality ended up being even worse.

Frustrated customers trying to buy physical metals.

ABC Bullion

Sydney buyers rush to buy at bargain prices of around $1332 an ounce, about $200 cheaper than four days ago and $400 cheaper than when the price peaked two years ago.
Not since the global financial crisis have the phones rung so hot from gold buyers, said Jordan Eliseo, chief economist of the Australian Bullion Company on Pitt Street.

FirstGold

Roy Cohen, director of The Gold Company and First Gold, said interest in gold savings accounts were also ''exploding''.

The gold is over sold there is very little physical on the market.

HOLD ON TO YOUR GOLD !!

 

[GoldCompany]

Gold dropped 15 % last week and everyone in the ETF or Contract market holding long positions were closed out, Manipulation I thinks ??

But Gold has already started its bounce back up.

Within the next month we will see big things happen in COMEX, The physical gold and the paper market are set to diverge.

This could lead to gold breaking the $2000 US an ounce, once it breaks the psychological level of $2000.00 we could see major daily jumps.

 

[Nugget]

A week or more ago when Gold started slipping a war against North Korea was highly likely, since the threat level from NK has tapered off the price has somewhat stabilised / recovered .. any correlation??

I'm thinking a sell off from the US government to fund a war against NK, and of course I have absolutely no statistical data to back my theory, just throwing it out there for all you conspiracists

 

[elrodeo]

Nugget a war with NK will never happen.
Its all western media and governments over hyping up something thats not really happening.
I've spent a long, long,time living in Japan and South Korea and its business as usual in SK with nothing more than King Ding bat doing a bit of sabre rattling to try get better negotiations at the table and to show the people of NK thats he's just like his Dad.
Western press and governments are over hyping whats going on for their own vested interests (perhaps manipulation of gold prices) .
There's little to zip in the SK media re NK issues and SK know what their neighbours are doing more than anyone.
China will never let a war happen, as the last thing they want is the US on their border and they'll nuke NK themselves to stop the US invading NK but it will never come to that as China gives massive financial support to NK and will pull that pin if King Ding Bat wants to be a naughty boy.

You got to look at the fact that South Koreans have been dealing with this sort of thing for almost 60 years and they don't see anything different going on now than what usually happens bar the over hype from the west and funny how it coincides with market fluctuations.

 

[Nugget]

Cheers elrodeo, to me the whole thing seemed a little fishy. It didn't really get the media attention here as I would have expected either.

Maybe Goldbuzz could comment on the war situation? he was over there a couple of weeks ago training troops in preparation I believe.

 

[Pauly]

Heres a question. Can you physically walk in somewhere and buy gold bullion for the market price, not paper but the real gold?

 

[GoldCompany]

The reason for the Gold dropping in FIAT currency terms is over the passed weeks, was the dangerous short positions held by the big investors like Goldman Sacks and JP Morgan ETC,

These companies held contracts which where maturing, and in order to supply on the contracts they needed to bring Gold down.

The announcement Goldman Sacks made to their investors to short the Gold price is what drove the paper price down, closing out anyone with a long position and scaring the investors out.


Did it work, Hell Yes all the paper gold investors were closed out or hurt. They sold on GS and JP advice !! All the time JP and GS where buying. (If you or I did the same thing we would be jailed for insider trading)


But did it hurt the physical investor, NO if you have gold you don't worry about what it is worth in fiat currency's. Rather how much it is worth to other commodities or investments.


IE: If you had a 20kgs of bullion, you still have it. But if it dropped 15% against Fiat currencies and then rebounded 5, it is off 10%.

Compared to:

If you owned Apple shares for example it has dropped from $706.00 per share to $410.00 a 42% crash.


The reality is GOLD IS MONEY everything else is created out of thin air, by the BANKSTERS.

 

[GoldCompany]

Here is a link to an article on Gold Is Getting Slammed After Goldman Tells Clients To Short It:

http://au.businessinsider.com/gold-is-getting-slammed-2013-4

and

http://au.businessinsider.com/goldman-short-gold-2013-4

Don't do what the crooks say follow their play, They are all buying Gold !!

 

[elrodeo]

Bit of a good insight http://www.youtube.com/watch?v=wZ6NwE0NxVA

Hunt around on the net and you can find parts that have been edited out.
I know its been around on a couple of other forums but a good watch.

This guy, definitely worth reading his books and watch his videos..
http://www.youtube.com/watch?feature=player_embedded&v=UeCqzwNnqyk