$10.90...............A STEAL DEAL
Total Gold DEMAND = 171, 290,000 TROY OUNCE
Total Supply = 123, 680, 000 TROY OUNCE
recycle = 42, 350,000
We have huge deficit of Supply / Demand 7 Million Troy Ounce As of Now.....
Low volume to test low level ...!!!!!!!! Gold Apr 15 (GCJ15.CMX) Volume just 272 with 1% down which very unusual.
Jabal Sayid had 1.4 billion pounds of copper in proven and probable reserves as of December 31, 2013(2) . Further exploration work will be carried out within the mining license area and the exploration license area surrounding the mine with the aim of extending the mine life.
Breaking the barrier soon .....out from short hedge predators
December 15th, 2014
What You Need to Know Before You Buy a Single Ounce...
Gold is on the brink of a historic bull run to rival that which occurred back in 2011 in the aftermath of a U.S. credit downgrade.
People are confused, intrigued, and excited about the opportunities that await. And for good reason...
Chinese gold demand in 2013 was more than DOUBLE global supply and mainstream estimates as the nation surpassed India as the world's top gold consumer.
Meanwhile, gold and silver prices remain (temporarily) artificially suppressed. A recent NYU study exposed a major, game-changing, decade-long gold manipulation scheme.
Consequently, it's only a matter of time before gold's true value rises from the ashes and it regains its rightful position as the ultimate asset in today's crumbling economy.
Unfortunately, gold being delivered from Western vaults is turning dirty as the appeal of the lucrative profit opportunities associated with selling the precious yellow metal grows.
The National Bank Thinks About The Gold Concept
The gold reserves of the Oesterreichische Nationalbank (OeNB) and their deposits in the UK and in Switzerland are a recurring theme in political discussions. Especially the Freedom to demand the relocation to Austria, along the example of the Deutsche Bundesbank in mind, who want to move half their gold by 2020 to Germany.
In Austria, the Court of Auditors has adopted the gold concept in its recent OeNB examination. In its draft report it provides the OeNB diverse recommendations. One of the key points: Given the “risk of a high concentration at the Bank of England”, the examiner advise to “rapidly evaluate all possibilities of a better dispersion of the storage locations”. Not only the parties should be diversified, but also the “actual spread of storing among locations”.
Gold Relocation Possible
The central bank has not ruled out such a relocation. The existing gold storage concept would be reviewed, potentially it will bring parts of the stored gold in the UK to Austria, OeNB experts have stated. Any changes will be decided upon security and economic criteria, according to the OeNB.
A brief orientation on the current gold concept: Austria has 280 tonnes of official gold reserves, only a small part of (17 %) is kept in Vienna. 80 % of the reserves are located in London, the most trading partner in gold, 3% percent is stored in Switzerland.
The Austrian central bank is the latest central bank to bring up repatriating gold reserves from abroad.
Gold repatriations by European central banks suggest that maybe there are more problems with the Euro than investors think.
The European political climate is a mess as populist and anti-Euro parties gain popularity and establishment politician poll numbers plummet.
We are starting to see gold performing very well in Euro terms with gold nearing its highest levels of the year in Euros.
If we are right we may start to see European central banks increase gold reserves.
And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, sorry Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the "6000 year old barbarous relic bubble" is more than just "tradition."
Austrian Central Bank Mulls Relocating London Gold: Standard
The Austrian state audit court says central bank should address concentration risk of storing 80% of its gold reserves with the Bank of England, Standard reports, citing draft audit report. Court advises central bank to diversify storage locations, contract partners.