The giant sucking sound you hear is all the billions and billion of USD the American investors are sending to China to pay for the Alibaba IPO. Some had to sell their gold for a big lose to buy this"stranger in the night". This is one reason gold has had a slide because the investors did not have cash to pay for the largest IPO in history at a time the nation is starved for dollars. The CEO of Alibaba said most of the money would be used in China! "THANKS".......out in the great South-West the great recovery is going so well that even pawn shops are closing and we send billions out of our country? Come On Airheads..........the job you lose may be your own.....but look on the bright side,there is free beer & a rate hick tomorrow at the Federal Reserve Central Bank.(but bet their will be another IPO before the beer(or the rate hick) to drain the money supply out of this once great country!
Despite some international consensus, the Islamic State has not yet been defeated and still
wants to kill and terrorize. While the ‘Islamic State’ will not last, what will replace it will ultimately do greater harm to the USA, UK, and others
....google - the CoGwriter....go to link...Obama-world-united-against-islamic-state-turkish-raid-succeeds-in-freeing-49-hostages
Have to give credit where it is due. You got it right. Not sure where we go from here but at this point market sentiment on the precious metals is at extremely low levels. Dollar is extremely overbought. In any event, you got it right to this point even as Jim Sinclair continues his perma bull stance on gold.
Loaned gold is sold by the borrower to be more precise. I know I have to slowly for non short seller.
So GLD loans gold ( you say), the borrower must sell to make a profit. Until you can propose a transaction that nets a profit to borrower, I must stipulate that loaned gold is sold (by the borrower). Re loaning borrowed gold (I believe this is what you suggest rehypothication to other funds) is silly, as borrower is borrowing at the same interest rate as he is lending. Where is the profit in that???? Why would a borrower of gold pay more than market lending rate? You just haven't thought third through in P&L transactional terms. You've just read some goldbugs conspiracy theory and swallowed it whole cause it makes you happy
So much for shorts betting on a ceasefire, because for some reason they think that would matter anyway. There is a huge ceasefire discount in gold thanks to Goldman clients on margin.
Schiff led the charge that printing more money would lead to hyperinflation. That seemed logical but by 2013, it was proved to be a false theory, and yet, there's Schiff, still pounding the drums in the face of a severe gold price decline.
The guy could have issued a mea culpa but no, he insisted his scenario was correct and now he looks like a complete fool.
The money was printed, but it was never used...except by the big boys to speculate on the market. That's not going to produce inflation except for the rising price of oil, which is now coming back down.
Not frightening at all. gold prices would go up if there were evidence or fear of inflation. I see little danger of inflation for the next while.
News got a whole lot worse for Gold today. This Buffer Zone Agreement and More Between Ukraine and Russia spells peace, no reason to own gold here. Plus you have a strong dollar, China and India buying cut in half, and Quarter End will spell DOOM for Gold this week. Gold Funds will be dumping, Hedge Funds will be Dumping, as No One Will Want to Hold Gold for Quarter End. Look for Gold to break key supports and be down over $100 this week.
I would not be able to sleep If I was Long Gold right here going into Monday.
Sentiment: Strong Sell
Yellen put them in bunker, and locked the door. No air, and all will die under 600 feet. Peter leading the charge to get out of this mess.
Sentiment: Strong Sell
The super-rich are looking to protect their wealth through buying record numbers of "Italian job" style gold bars, according to bullion experts.
The number of 12.5kg gold bars being bought by wealthy customers has increased 243pc so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.
"These gold bars are usually stored in the vaults of central banks and are the same ones you see in the film 'The Italian Job'," added David Cousins, bullion executive from London based ATS Bullion.
Further evidence of your wavering intellect
"The big names can without a doubt take delivery. State Street has not only confirmed it is possible but has also mentioned it has already been done before."
Complete B S
Show ONE, just one shred of evidence that this has happened for ANY ETF State Street, BlackRock, PowerShare for a stock ETF, commodity, bond you name it
It would be the complete opposite of a good business move.
It would mean anytime a fund wanted to do a one off exchange of say a basket of SPY or IWM, they could so. You think GLD is the be all end all for state street. News flash, it's not. Stocks and bonds are way bigger biz
Others may let u make stuff up, I'm not
Put up or shut up little man
I welcome you to stop taking the drugs you are on and explain yourself.
You say you became suspicious of the "lengths" they described in 10k of their audit. This is a ludicrous lie on your part. I challenge you to name one 10k that describes the inventory audit conducted, or any other technical aspect of an audit. You have FAILED to meet that challenge as you have consistently. Why? No 10k EVER describes their audit.
Kpmg states their tests are adequate to back their clean opinion of GLD. That's it. That's all they EVER give. If you ever read more than one 10k, you would no this to be true. EVERYTHING about GLD audit statement is PURE BOILER PLATE. You can copy and paste it into every clean opinion they offer.
You are either lazy or a liar