Smashing of silver futures spikes demand for real metal at SprottMoney
Gold WARNING: France bans cash purchases of gold and silver over $600
"How long before the U.S. Congress uses this same excuse?"
Doug Casey: How to Prepare for When Money Dies
Karen Roche and JT Long of The Gold Report - If dollar-dumping turns from a trickle into a flood, look out. Exploding prices (aka exorbitant inflation) resulting from the devaluation of the dollar will compound the problems we saw in 2007–2009. Catastrophe will come when everybody realizes that the dollar is an "IOU nothing." That's the downside in the decade(s) ahead, according to Casey Research Chairman Doug Casey. But an optimist at heart, in this exclusive interview with The Gold Report, Doug also identifies some reasons to be hopeful. (9/23/11)
Marc Faber: On Operation Twist, The Dollar, Gold, And The Greeks
In
his inimitable manner, Marc Faber describes to ThomsonReuters why it
is time for Greece to leave the common currency, claim bankruptcy, and
allow its citizens to live decently even if European leaders (and
bankers) have to suffer. Furthermore, he reflects on how the stock
market sell-off indicates real concerns about the global economy and in
an unusual moment for the author of the Gloom, Boom, and Doom report,
believes the Fed was right (but only in so much as they limited the
scope of Operation Twist).Keep an Eye on Newmont for signs of a bottom in the gold shares
Newmont has recently been one of the best performing gold stocks on the
board. As such it should be closely watched for signs of a potential bottom
across the entirety of the gold mining sector. Note the chart below and look
at the former resistance level near the $60 region. That held the stock in
check for some time and prevented it from moving solidly higher. Now that it
has decidedly cleared this level, technical analysis principles tell us that
this level should provide some support in the way of buying once it is
approached again on a retest lower in price. The reason is that b... more »
Gold Chart comments
Gold was taken down very hard this week for several reasons.
First, look at both charts below of the S&P and the CCI. Notice that both
are now solidly in the red for this year. What this tells us is that the
vast majority of hedge funds have lost money for the year unless they have
been very nimble and were able to beat the rest of their world to the sell
button.
Also consider that many of their positions are heavily leveraged. Margin
calls are now coming in. What do they do? They can obviously sell out of
their positions and take the losses or they can try to pony up additional
c... more »
Commodity complex reeling but still standing
Please examine the following chart to see where the complex is as a whole in
terms of its technical posture. With traders currently leaning towards the
"slowing global economy" theme, the complex is moving lower to revalue many
of the individual markets comprising this index. That is more of the
deflationary emphasis and is reflected in the breach of chart support and
accelerated move lower once price broke out of the downside of the recent
channel.
There has been some chatter that the G20 will attempt to take some sort of
concerted action to assuage investor fears. also, today ther... more »
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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