MC dk

Predicting the Bottom in Gold

I really don't buy that crap about August being the "slow" month i Pmetals.If the mining company's can borrow money at 4-6% (if they even need to) then WHY should they sell the PRODuce, at a 20% DISCOUNT in august.
They don't, it is the paper gold that is pressing it down, as ALL those shorts have to cover at some point, or go to Bear sterns.
ONE day or probably night, the mining company's. will WAKE UP, and actually BUY physical gold in August.
?? WHERE are all those HEDGE funds that are lending short and buying long, this is steal bargin at 20-30% + that they can GEAR up to 100 times.
( Except for BARRICK & co, who for years solf FORWARD >7 years - their gold - for 3-4-500$, forcing the price down, and now creating MASSIVE losses when they have to deliver it today at much higher production costs. Idiots, set up buy their OWN banks, as this was a condition to the loans, they needed to BOOST production, that would suppress the price further.
WHEN will resource company's and COUNTRies, WAKE up and OVER RIDE the paper market.
It could be closer than most think, OPEC looks like they have began to understand, that oil in the ground is more valuable than that sold for $paper - bonds - mortage crap.
Notice that China agree's to pay 70% MORE for iron ore than the spot price, for a longer term kontrakt. ? Is that because there is TOO much supply floating around, I doubt it.
Same with oil, that will expolde when The cantarell and Gehwar mega fields really start declining.
And now the dollar is suppose to be THE best bet....
WAKE UP..... turn of the TV... and start thinking your self. !!