Yes. They do.
Usually I put up weekly charts on Monday, but not this week.
Aurcana price down, mine shuttered.
Is this good or bad news?
Well, there is this side to it: By putting the Shafter project on "care and maintenance", they didn't sell forward to the banks at a 3 years low metal price. This preserves inventory for sale a (possibly) higher value, tightens supply, and the noose around the necks of shorts trying to break metal prices down to a lower level.
It's the diametrically opposite kind of news item to last week's story of an LBMA Executive advising mining CEOs to the effect that it's going down more, sell all you can now (to exchange member banks) or you'll be out of business.
Watch and wait.
Very nice cycles work analysis from the main thread. Everyone should have a chance to read it going into the new year.
Thanks for reminding me, I keep forgetting to put a link to the blog here when it's relevant to the topic in this thread!
For those who don't follow Main St. and might have missed it, ( I know most regular Turd-ites will read both) here is the direct link:
Gold & Business Cycle Relationships
Love the spin. Its so telling. Tapering badly needed soon, apparently.
Whenever statistics beat expectations surprisingly strongly, GET the MESSAGE! :)
Meanwhile, banks ordered to stay in stocks. They will get the signal when to leave prior to crash . Insiders getting out rapidly.So far really a simple 1929 rinse repeat (plus minus QE to extend the bubble- it popped a bit too early in 2007)?
Once a $40 stock now mid 3's. yet, over 20% of the alleged float is short. Shorting a stock down 90% seems a bit odd.
A possible six month ‘W’ formation building in gold from a good friend … either that or a flush of the June 2013 lows – likely will know relatively soon time wise.
Kudo’s to AM and consistent quality of thread since inception as we navigate our way into 2014…
Markets close at 1PM EST.
AVG GDX volume 38M shares.
GDX volume 33M
Anyone want to see if there was another ETF that even sniffed avg volume? Only action I saw tdy was TWTR, which is getting dumber by the day.
Its 8:30 P.M. here and I can not wait more to see 10 year T take out previous max of 3,01.
Anyway, it will if not today then this week. Few more statistical victories and we are there. And then see you at 4% in February.
So Merry Christmas everyone !
P.S. In our country, 24, 25 and 26th are state holidays
To all the readers of "The Setup For The Big Trade" both those in Turd-land and also those who come from elsewhere to visit and read what we contribute here, I would like to send best wishes to you and your loved ones at this time of friendship.
I am a lurker on "The Setup For The Big Trade" since its inception and I want to thank you for your very interesting posts, and wish you and your close ones a joyful time now, as well.
Interesting service-quite new and concise. Armstrong has been quite accurate on gold in 2013.
I am on holiday in Sanya, Hainan Province, and these scenes are for real. These people are buying - quite literally (think about this phrase) - "like it is going out of fashion"
The ZeroHedge article noted that Chinese consumers are buying at the bargain price of CNY 287/ gramme - about US$47.28. Even after todays spikette, that is a premium of 21% over the COMEX price, and is entirely consistent with my own experience of buying Gold Panda 1oz coins in Blackpool, England and selling them retail in Shenzhen for a 20% markup 3 days later
In short, therefore, the Chinese think they are snapping up a bargain when they can buy Gold at CNY 287 x 31.1g ÷ 6.072$ = $1469 / oz. GO FIGURE
Also thinks 2014 will not be too good for gold prices:
will exit quantitative easing (QE) from early 2014 have reduced current global inflationary pressures. Combined with a significant rise in U.S. =10 year bond yields, this means thatU.S. domes
tic long term real interest rates will rise significantly too, said the yellow paper.
In the immediately foreseeable future, the effective exchange rate of the U.S. dollar will remain strong due to
the Fed’s QE exit and the corresponding inflow of short-term international capital to the U.S. from emerging markets. As a result, emerging market economies will slow the pace of diversification of reserve assets and their demand for gold reserves may decline.
But they do not mention the possibility of the USG default to FED. That should arrest=support gold prices above 1000 USD level in H1 2014.
Rahul at Altinvestorshangout produces well thought out material and I subscribe to keep track of his youtube podcasts.
He interviewed me today for a conversation about the Argentus Maximus Blog article about Gold & Business Cycle Relationships of a couple of days ago
The interview is available on Rahul's Youtube channel here: AltInvestorsHangout : Argentus Maximus - Gold and Cycles
I hope you find it worthwhile and of interest.
Excellent Analysis! Great preview of things to come. Thanks AM and Raul!!
The Setup-The gift that keeps giving! Gonna be an interesting 2014.