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
Continue reading "Time to give up on the CFTC " »
Mark OBryne writes: Gold is up today while stock indices globally are sharply down after the Nikkei crashed 7.3%. The stock crash in Japan is leading to weakness in European equities and will lead to losses when U.S. markets open. Gold - 1 Day – (Bloomberg) The Nikkei decline is being attributed to the poor Chinese PMI data but the more likely reason is speculators profit taking leading to panic selling. Currency debasement and rampant speculation had led the Nikkei to increase by an incredible 85% in just over 6 months.
Continue reading "Gold Up 1.5% As Stocks Globally Fall After Nikkei Crashes 7.3%" »
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
Continue reading "Kyle Bass – People Buying Japanese Stocks are Macro Tourists " »
Vancouver, BC - Bayfield Ventures Corp. (TSX-V: BYV) (OTC Pink: BYVVF) (Frankfurt: B4N) is pleased to announce additional assays from the continuing exploration of its 100% owned Burns Block gold-silver project located in the Rainy River District of north-western Ontario. The Companys Burns Block property is ideally situated adjacent to the east of Rainy River Resources (TSX: RR) main multi-million ounce gold-silver deposit and to the west of their expanding Intrepid gold-silver zone.
Continue reading "Bayfield Drills 16.0m of 10.47 g/t Gold and 34.68 g/t Silver on Intrepid Zone in Rainy River, NW Ontario " »
COEUR DALENE, IDAHO--(Marketwired - May 23, 2013) - Timberline Resources Corporation (NYSE MKT:TLR)(NYSE Amex:TLR)(TSX VENTURE:TBR) (Timberline or the Company) today announced that it has completed an updated technical report on the Butte Highlands Property in Montana (the Report) that will be filed on SEDAR later today.
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Kentucky senator Rand Paul on the spectacle of dragging Apple executives before Congress, which is responsible for creating the bizarre and counter-productive corporate tax maze U.S. companies have to navigate.
Continue reading "Rand Paul – Congress, not Apple, Should be on Trial for Bizarre Tax Code " »
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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Vancouver, May 22, 2013-- Fortuna Silver Mines Inc. (NYSE: FSM | TSX: FVI | BVL: FVI | Frankfurt: F4S.F) is pleased to report continued success in the exploration drilling at the Trinidad North discovery at the San Jose Mine in Mexico. Drilling continues to intercept high-grade silver-gold mineralization over wide widths with the mineralization remaining open to the north and to depth.
Continue reading "Fortuna intercepts 736 g/t Ag and 4.8 g/t Au over 19.3 m at Trinidad North discovery, San Jose Mine, Mexico" »
TORONTO, May 21, 2013 /CNW/ - Guyana Goldfields Inc. (GGI or the Company) (TSX: GUY) is pleased to announce the appointment of Mr. Peter Lello Galassi (Lello) to the position of Chief Operating Officer (COO) of the Company, effective immediately. Mr. Galassi will be based in Georgetown, Guyana and will be responsible for all daily operations related to the Aurora Gold Project in Guyana, South America.
Continue reading "Guyana Goldfields Inc. Strengthens Its Senior Management Team and Announces New Chief Operating Officer" »
Vancouver, B.C., May 21, 2013 - Columbus Gold Corp. (CGT: TSX-V) (Columbus Gold) is pleased to announce that it has completed the sale of a 1% net smelter returns royalty (NSR) on production from its 100%-owned Paul Isnard gold project in French Guiana. The transaction has been completed with a royalty company for proceeds of US$5 million cash, which has been received by Columbus Gold.
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GoldCores Mark OByrne writes: Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we may have seen the bottom or are close to a bottom. Spot Silver in USD, 3 Days, May 17, 20, 21 – (Bloomberg) This theory is bolstered by the fact that the 10% losses were due to a handful of a very large trades in a low volume session in Asia, while silver’s subsequent 12% reversal to the upside came amid extremely high trading volume with
Continue reading "Silver Recoups Sharp Loss And Rises 2% On Record Volume" »
Thanks to Chris Powell for this link. RANDALL W. FORSYTH, Up and Down Wall Streetwrites: Stocks are for lovers and gold is for haters. Thats how one especially supercilious strategist (is there another kind?) sizes up the two markets, and its clear hes been feeling the love lately. Stocks are at new highs in the U.S. and many other venues, while Japans market is strapped to a rocket ship, all propelled by money fresh off the printing presses of the worlds central banks. Fans of the yellow metal, meanwhile, are feeling rather battered and bruised these days from the beating theyve taken over
Continue reading "This Time, Gold Bugs May Have a Point " »
Silver rebounds from lowest level since 2010; copper climbs By Myra P. Saefong and Barbara Kollmeyer, MarketWatch SAN FRANCISCO (MarketWatch) — Gold futures bounced higher Monday, finding support after a seven-session losing streak, while silver rebounded from a level not seen since 2010. Gold for June delivery /quotes/zigman/647778 GCM3 +1.42% was last up $17.40, or 1.3%, to $1,382.10 an ounce on the Comex division of the New York Mercantile Exchange after tapping a low under $1,340. The “very sharp reversal in gold and silver” appears to be due to short covering after gold’s inability to fall below an April low of $1,321.50,” said
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After wrapping up a week full of economic data in the UnitedStates, we now look forward to a fairly light schedule. At this point, mosttraders realize how insignificant the results of these reports are and theywill likely continue to follow the stock indexes with a “buy the dip and enjoythe trip” mentality. Why wouldn’t they?
Continue reading "Brian Booth's Weekly Gold Report May 20, 2013" »
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
Continue reading "USGI Gold Brief " »