I just can not sit on my hands and miss this trade. Tomorrow I will buy some poor mans gold @ the open. I won't be making the big percentage moves that GSS makes but I will be able to sleep better, and my sleep is priceless.
Citi : World Economy trapped in ' Death Spiral ' Be happy don;t worry. I just bailed out of oil shortly after my Prez started making noise about imposing a ten dollar per barrel tax on crude. Now I am left in cash and while I was in oil gold turned higher !
I noticed Gold is rising in value to a basket of currencies not just the United States Dollar. The currencies are listed on the Kitco site. Strong rally typical of metals but I am not chasing. Typically when I don't chase the market runs away from me. The story of my life.
[ I will say this, the global financial system will completely seize up and close for trading once gold delivery fails. This will only take 48 hours after a failure, and the ability to procure metal, sell stocks and bonds, or do anything else financial will not be an option.] Bill Holter.......I own Units in Oil and Natural Gas Wells that are managed by a Bank Trustee. I am curious if these assets will retain their value and continue to pay out quarterly distributions if the Financial Freeze up scenario Bill Holter describes becomes a reality. Will the Government confiscate the Oil to keep the system machines running ?
the Stock Market looks more and more as if it is ready for another 2000 or 2008 panic sell off. The trend is decidedly down following in the footsteps of commodity prices. Gold theme as a safe place to put your money is back for now as confidence in Central Banks is being questioned again. Who knows ? In a NY minute everything can change.
The Vultures are hungry. Stream Transaction Details
Royal Gold will provide Rubicon with a deposit of US$75.0 million to be used entirely towards the construction of the Phoenix Gold Project ("Project");
Rubicon agrees to deliver 6.30% of the projected annual gold production from the Project until 135,000 ounces have been delivered and 3.15% thereafter;
Royal Gold's cash purchase price per ounce will be 25% of the spot price(1) at the time of delivery.
$1.63 / share. Dividend cut. I am not buying but they do have some nice gold mines and if I owned 10,000 shares of GSS I would be temped to swap them for 1000 shares of AUY .
I noticed the South African Gold Miners are outperforming all other Gold Miners recently. The South African currency has concurrently devalued relative to the USD. I don't believe I have seen a divergence of regional gold mining stocks like this before.
When the Chinese stock markets stop going limit down by hitting the seven percent breaker we shall see who has won all the gold and money. I am somewhat disappointed that silver can not reclaim the sixteen dollar handle, it is struggling here. Oil grabbing headlines like the Greek Crisis not so long ago. At the turn of this century oil was ten dollars a barrel and not make Breaking News Headlines on Bloomberg.