Thoughts on Markets

Sunday, October 19, 2008

Physical Metals versus Paper Metals

In early Asian trading silver is off to a good start. Remember, though, it is early and the NYMEX is a few hours away from the open.
Gold, also, seems to be moving up early tonight. Maybe we will see higher prices as NY opens tomorrow. There is no telling as the boyz are usually active in NY. The stock options expired on Friday, so there is a possibility that we could see higher prices on the metals and the mining stocks. We will be able to tell more accurately in the morning. Lot's fairly hopeful tonight.

Gold is up to 792.90 and silver 9.60. Long way to go to catch up and better the last highs.

James Turk's Latest Posting:

Gold's New Records

Gold closed last week and made new record highs this week against the Australian dollar, Canadian dollar, Indian rupee, South African rand and British pound. Here are gold's long-term charts against these currencies.

Read the whole article HERE


From Commodity online:

War between paper gold and bullion gold
2008-10-19 18:35:00


By Jim Sinclair
It is axiomatic that the most leveraged gold market most often (95 percent of the time) sets the price of any cash market. First derivatives (listed futures) commands price.

This remains true as long as the COMEX warehouse of gold is NOT meaningfully depleted by long gold contracts by taking delivery from the exchange warehouse.

As long as an exchange maintains a warehouse that historically overwhelms historical demand for delivery the first derivative, The COMEX listed gold future, will be the primary cause of price.

Read the whole article: HERE


From The Independent:

Spending on gold nears $3bn as investors flee shares

By Mark Leftly
Sunday, 19 October 2008

Investors spent $2.8bn (£1.6bn) on gold on world stock exchanges in the third quarter this year, as individuals and companies fled volatile share markets.

According to the World Gold Council (WGC), 145 tons of gold were bought on stock exchanges in the three months to September. This meant that gold held by investors on the exchanges hit 1,000 tons for the first time since the metal was introduced on the US bourse in 2004.

Read the whole article HERE

I sincerely hope and pray that you and your families joined in corporate worship yesterday as all are required to do in accordance with the word of God. One must show his love of Jesus Christ by obedience to His commandments. Fairly to do so will yield the wrath of God. Remember, "It is a terrible thing to fall in the hands of the living God." He is the absolute ruler and judge from whose declarations there is no higher authority to make an appeal.

Best to each, Doug

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