Got Gold Blog

Friday, May 24, 2013

By the Numbers for the Week Ending May 24

This week’s closing table is just below. Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week’s technical changes, should be completed by the usual time on Sunday (by 18:00 ET).

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Gold and Silver Disaggregated COT Report (DCOT) for May 24

HOUSTON -- This week’s Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the changes in weekly positioning by the disaggregated trader classes, as compiled by the CFTC, is just below. This week we are also adding in the net positioning of traders the CFTC classes as “Commercial” in the Legacy COT report. (DCOT Table for May 24, and Legacy COT commercial positioning for data as of the close on Tuesday, May 21. Source CFTC for COT data, Cash Market for gold and silver.) In the DCOT table above a net short

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Time to give up on the CFTC

The Perth Mints Bron Suchecki, writing for his blog Gold Chat, begins: Gene Arensberg has an article out on the COMEX price smash where he concludes that: in order for the initial 124 tonne sale to have occurred “legally” it would have had to have been 14 traders, all with zero orders open, all acting simultaneously, all acting independently, in their own self-interest, without colluding with each other to “sell-for-effect” or conspiring to foment a price smash. In actuality, the chances that there were 14 traders who held zero open orders all acting independently, all throwing their full allowable 3,000 contracts into the

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Thursday, May 23, 2013

Kyle Bass – People Buying Japanese Stocks are Macro Tourists

J. Kyle Bass of Hayman Capital checks in with David Faber at CNBC following the overnight plunge of Japanese equities, with the Nikkei off 7% plus and as a selloff of Japanese government bonds accelerated, driving the 10-year JGB briefly over 1%. Bass, who has been warning that “Abenomics” might trigger a debt bomb in Japan, began by saying: “I think the BoJ is facing something they maybe didn’t foresee in the first place. What I like to call the ‘rational investor paradox.’ The funny thing is that if they (Japanese investors) believe in “Abenomics” and Kuroda’s new plan at the BoJ to

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Wednesday, May 22, 2013

Jim Grant – Fed Centric Markets Scary

James Grant, of Grant’s Interest Rate Observer fame, stopped in to visit with CNBC’s Maria Bartiromo on a day when the equity and bond markets were a volatile roller coaster as the markets parsed and dissected every word and nuance uttered by the top Fed central planners. “You know what else is scary, is that we seem to be so Fed-centric. Since when is a central bank the principle fundamental in financial markets or an economy? Does everything really ride on the syntax or the judgment, or let’s be frank, the guesswork of these well-intended scholarly people?” Grant asked rhetorically. A bit later

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Courtesy Release of New Video Got Gold Report

HOUSTON -- Recently we shared a new video update with GGR Subscribers. This particular video takes a look at the positioning of the largest, best funded traders classed by the Commodity Futures Trading Commission (CFTC) as “Commercial” in the Legacy commitments of traders report “COT” for gold and silver futures. As a courtesy we have uploaded the new video to our YouTube hub to make it available to the entire GGR readership and the general public. However, GGR Subscribers received access to it first on the private, password protected Subscriber website, as always. (More...)

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Monday, May 20, 2013

New GGR Video Posted for Subscribers

HOUSTON -- Vultures (Got Gold Report Subscribers) please log in to the Got Gold Report subscriber site and navigate to the Got Gold Report Latest Video Section to view a new special video GGR uploaded today, Monday, May 20, 2013. We pay particular attention this time to the Legacy COT reports for both gold and silver, the same reports we have tracked and followed for many years. Seldom have we ever seen so convincing a set of signals as we are being sent by the COT today. Please view our relevant disclosures located on the web site for Got Gold Report.

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USGI Gold Brief

Gold Market Frank Holmes U.S. Global Investors team writes: For the week, spot gold closed at $1,359.55, down $88.65 per ounce, or 6.12 percent. Gold stocks, as measured by the NYSE Arca Gold Miners Index, fell 11.4 percent. The U.S. Trade-Weighted Dollar Index gained 1.27 percent for the week. Strengths click to enlarge The chart above shows the price action of key commodities since 2007 plotted on the back of the Reuters’ Continuous Commodity Index (CCI). In the chart, the four commodities and the commodity index are equalized to 100 on April 2011, the time when the commodity index peaked. In comparison, gold’s

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Friday, May 17, 2013

By the Numbers for the Week Ending May 17

This week’s closing table is just below. If the image is too small click on it for a larger version. Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week’s technical changes, should be completed by the usual time on Sunday (by 18:00 ET).

Continue reading "By the Numbers for the Week Ending May 17" »

Gold and Silver Disaggregated COT Report (DCOT) for May 17

Edit 1: Adds charts and brief commentary. This week also shows the Commercial category in the Legacy COT report. HOUSTON -- This week’s Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the changes in weekly positioning by the disaggregated trader classes, as compiled by the CFTC, is just below. This week we are also adding in the net positioning of traders the CFTC classes as “Commercial” in the Legacy COT report. (DCOT Table for May 17, and Legacy COT commercial positioning for data as of the close on Tuesday, May 14.

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Suchecki - Why the Price Smash Affected GLD and SLV Stocks Differently

The Perth Mints Bron Suchecki writes: A number of bloggers have observed the difference between GLDs gold stocks and SLV silver stocks in response to the April price smash. Sharelynx is reporting the following changes over the past four weeks: *** GLD down 3,031,042oz (-8.23%), current stocks 33,811,468oz SLV down 341,111oz (-0.10%), current stocks 335,666,675oz *** Sharelynx also tracks all the other major ETFs, COMEX, TOCOM, Sprott, BMG, Central Fund, Bullion Vault and GoldMoney reported stocks. The change in the total of all those over the past four weeks is: *** Gold down 5,576,479oz (-6.12%), current total 85,565,264oz Silver up 912,541oz (0.11%), current

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Thursday, May 16, 2013

GoldQuest: Drilling Results at Las Tres Palmas, Dominican Republic. Commences First Drilling at Guama Anomaly

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2013) - GoldQuest Mining Corp. (TSX VENTURE:GQC)(FRANKFURT:M1W)(BERLIN:M1W) (GoldQuest or the Company) is pleased to announce assay results from three drill holes from the Romero mineralization, one from La Escandalosa and one in a previously undrilled area between Romero and La Escandalosa. All holes are located within the Companys 100% owned Las Tres Palmas trend in the Dominican Republic. The first hole is underway at the Guama anomaly, 2 kms west of Las Tres Palmas, where surface sampling included results up to 34% copper, overlying a strong chargeability anomaly.

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Wednesday, May 15, 2013

So Much for Position Limits on COMEX Gold

HOUSTON -- We are using this space to put something in the public domain out of convenience more than anything. Where were the regulators on gold futures position limits April 12 and April 16? Flash back to Friday, April 12, when the paper gold futures market was slammed with an enormous sell order in the early going of New York trading, following a “tenderizing” of the market right at the New York open. We have read and heard various descriptions of the initial sell order being as little as 124 tonnes and as much as 400 tonnes of gold equivalent – sold by

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Tuesday, May 14, 2013

U.S. Banks Buy Gold Futures in Dramatic Position Change

HOUSTON – We thought we would share with our readership an important change in the positioning of large U.S. banks in the monthly futures-only Bank Participation Report (BPR) issued by the Commodity Futures Trading Commission (CFTC). The most recent report was published Friday, May 10 for positions as of the close on Tuesday, May 7.

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Monday, May 13, 2013

Stoeferle – Deflation vs Inflation and Gold

For GoldMoney Alisdair Macleod interviews our good friend Ronni Stoeferle, author of the annual report “In Gold We Trust,” published by Erste Bank. The setup for the video reads, in part: “Ronnie notes that there is currently deflationary pressure within the market, but suggests this will be opposed and fought vigorously by central banks. This will bring about the end of the current downward price moves in precious metals and herald the next leg higher. (More, audio file below...)

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