Russ Winter's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.com/user/239228/comments http://seekingalpha.com/article/1449881/comments?source=feed#comment-19096771 19096771
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http://bit.ly/11WGoRQ]]> http://seekingalpha.com/article/1449881/comments?source=feed#comment-19093391 19093391
Dubai buyers are paying a premium of $7-10 per kilogramme.

Turkey is reported to be paying a premium of $25 an ounce over spot prices.

Hong Kong and Singapore buyers are paying premium of $5 per ounce for gold bars.]]> Tue, 21 May 2013 18:46:19 -0400
Dubai buyers are paying a premium of $7-10 per kilogramme.

Turkey is reported to be paying a premium of $25 an ounce over spot prices.

Hong Kong and Singapore buyers are paying premium of $5 per ounce for gold bars.]]> http://seekingalpha.com/article/1449881/comments?source=feed#comment-19075421 19075421 Tue, 21 May 2013 12:17:29 -0400 http://seekingalpha.com/article/1449881/comments?source=feed#comment-19073431 19073431 http://bit.ly/11VgVYY]]> Tue, 21 May 2013 11:30:13 -0400 http://bit.ly/11VgVYY]]> http://seekingalpha.com/article/1446351/comments?source=feed#comment-19022181 19022181 http://bit.ly/114z2di]]> Mon, 20 May 2013 08:48:54 -0400 http://bit.ly/114z2di]]> http://seekingalpha.com/article/1445671/comments?source=feed#comment-19003001 19003001
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This tells us the gold producers have little future production to deliver to the paper Comex market. Last October, they had over 20 million ounces hedged. Most of the 2.706 million ounces still hedged is spread out over months, if not years.

It may also suggest that gold producers prefer to sell their gold directly elsewhere and bypass the Comex altogether as a legitimate place to conduct business. Further, since prices are higher in the physical market why deliver to the Comex warehouse at all? That in itself would be a huge event. The commercial and producer indicator on its own is very bullish, but this seems especially so because of its challenge to the paper gold Comex “market.”

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This tells us the gold producers have little future production to deliver to the paper Comex market. Last October, they had over 20 million ounces hedged. Most of the 2.706 million ounces still hedged is spread out over months, if not years.

It may also suggest that gold producers prefer to sell their gold directly elsewhere and bypass the Comex altogether as a legitimate place to conduct business. Further, since prices are higher in the physical market why deliver to the Comex warehouse at all? That in itself would be a huge event. The commercial and producer indicator on its own is very bullish, but this seems especially so because of its challenge to the paper gold Comex “market.”

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http://bit.ly/10zyN8n]]> http://seekingalpha.com/currents/post/1033421?source=feed#comment-18985781 18985781
This tells us the gold producers have little future production to deliver to the paper Comex market. Last October, they had over 20 million ounces hedged. Most of the 2.706 million ounces still hedged is spread out over months, if not years. It may also suggest that gold producers prefer to sell their gold directly elsewhere and bypass the Comex altogether as a legitimate place to conduct business. That in itself would be a huge event. The commercial and producer indicator on its own is very bullish, but this seems especially so because of its challenge to the paper gold Comex “market.”

http://bit.ly/10zyN8n]]> Sat, 18 May 2013 14:38:01 -0400
This tells us the gold producers have little future production to deliver to the paper Comex market. Last October, they had over 20 million ounces hedged. Most of the 2.706 million ounces still hedged is spread out over months, if not years. It may also suggest that gold producers prefer to sell their gold directly elsewhere and bypass the Comex altogether as a legitimate place to conduct business. That in itself would be a huge event. The commercial and producer indicator on its own is very bullish, but this seems especially so because of its challenge to the paper gold Comex “market.”

http://bit.ly/10zyN8n]]> http://seekingalpha.com/article/1444851/comments?source=feed#comment-18971301 18971301
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more- http://bit.ly/10zyN8n]]> http://seekingalpha.com/article/1442911/comments?source=feed#comment-18967731 18967731
The CoT data for gold had the positioning as of last Tuesday. POG was $1420 at that point. Managed money continued to modestly reduce long positions to the lowest level since 2008. But the big story was the continued reduction in the position of producers who have now only hedged 27,066 contracts or 2.706 million ounces. This represents a substantial reduction off of last week's 37,463 contracts. In other-words producers in general or perhaps one or two large producers were in the market during the week buying and closing out roughly 1.04 million ounces of gold hedges.

- more http://bit.ly/10zyN8n]]> Fri, 17 May 2013 19:29:02 -0400
The CoT data for gold had the positioning as of last Tuesday. POG was $1420 at that point. Managed money continued to modestly reduce long positions to the lowest level since 2008. But the big story was the continued reduction in the position of producers who have now only hedged 27,066 contracts or 2.706 million ounces. This represents a substantial reduction off of last week's 37,463 contracts. In other-words producers in general or perhaps one or two large producers were in the market during the week buying and closing out roughly 1.04 million ounces of gold hedges.

- more http://bit.ly/10zyN8n]]> http://seekingalpha.com/article/1441121/comments?source=feed#comment-18953941 18953941 Fri, 17 May 2013 13:59:53 -0400 http://seekingalpha.com/article/1442911/comments?source=feed#comment-18950371 18950371
http://bit.ly/10CRhRk

Even with this carnage there is still June contract open interest of 195,938. There is still a lot of short covering to conduct before the first notice date.

Some comments on the May (normally low month) stands from Harvey Organ:

Harvey Organ on Comex activities. The May stand for delivery are unprecedented for an off month..:

“Thus we have the following gold ounces standing for metal in May: 1952 contracts x 100 oz per contract or 195,200 oz (served) + 1059 notices or 105,900 oz (to be served upon) = 301,100 oz or 9.365 tonnes of gold.

This is extremely high for a non active month. We gained 25,000 additional gold ounces standing for the May comex gold contract today.

A reader at Lemetropole asked me if we have ever seen anything like this huge number of gold ounces standing in a non active gold month. The answer is simply that it has never happened before. Traditionally approximately 1 to 2 tonnes at best stand and most of the delivery notices are filed in the first few days.

In May we are witnessing a huge increase in OI (and also an increase in total gold deliveries) as the month of May deliveries progressed. It is conceivable that the amount standing in this non active month will exceed what usually stands in an active month: 10 to 15 tonnes of gold.

The big June delivery month will surely be exciting to watch judging by the huge demand for gold in May. We will watch what happens with JPMorgan with respect to its customer gold remains (now at 9.25 tonnes of gold) and the entire comex dealer gold close its nadir at 1.676 million oz.(52.13 tonnes).”

http://bit.ly/MbtG2t]]> Fri, 17 May 2013 12:51:06 -0400
http://bit.ly/10CRhRk

Even with this carnage there is still June contract open interest of 195,938. There is still a lot of short covering to conduct before the first notice date.

Some comments on the May (normally low month) stands from Harvey Organ:

Harvey Organ on Comex activities. The May stand for delivery are unprecedented for an off month..:

“Thus we have the following gold ounces standing for metal in May: 1952 contracts x 100 oz per contract or 195,200 oz (served) + 1059 notices or 105,900 oz (to be served upon) = 301,100 oz or 9.365 tonnes of gold.

This is extremely high for a non active month. We gained 25,000 additional gold ounces standing for the May comex gold contract today.

A reader at Lemetropole asked me if we have ever seen anything like this huge number of gold ounces standing in a non active gold month. The answer is simply that it has never happened before. Traditionally approximately 1 to 2 tonnes at best stand and most of the delivery notices are filed in the first few days.

In May we are witnessing a huge increase in OI (and also an increase in total gold deliveries) as the month of May deliveries progressed. It is conceivable that the amount standing in this non active month will exceed what usually stands in an active month: 10 to 15 tonnes of gold.

The big June delivery month will surely be exciting to watch judging by the huge demand for gold in May. We will watch what happens with JPMorgan with respect to its customer gold remains (now at 9.25 tonnes of gold) and the entire comex dealer gold close its nadir at 1.676 million oz.(52.13 tonnes).”

http://bit.ly/MbtG2t]]> http://seekingalpha.com/article/1442911/comments?source=feed#comment-18949821 18949821
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http://bit.ly/12brXUL]]> http://seekingalpha.com/article/1441121/comments?source=feed#comment-18944401 18944401
http://bit.ly/10CRhRk

Even with this carnage there is still June contract open interest of 195,938.]]> Fri, 17 May 2013 11:06:34 -0400
http://bit.ly/10CRhRk

Even with this carnage there is still June contract open interest of 195,938.]]> http://seekingalpha.com/article/1441121/comments?source=feed#comment-18916501 18916501 http://bit.ly/13zHL6s

They had unprecedented buy for delivery orders in April. Now take a look on the site at deliveries back to April 22. Its in the right hand column of each page. There are virtually none. If SGE can't get any, how could the mints get any?

Before April 22 SGE took delivery of 200 + tonnes a month. So give me your explanation about why they are bone dry after 115 tonnes was "liquidated" from GLD in the time since the bear raid. Why have India and China only received a fraction of this gold during a period when supposedly the world is awash in gold bullion?

The answer : the world is awash in unregulated paper gold created by wild men, rouge traders and speculators..]]> Thu, 16 May 2013 16:43:49 -0400 http://bit.ly/13zHL6s

They had unprecedented buy for delivery orders in April. Now take a look on the site at deliveries back to April 22. Its in the right hand column of each page. There are virtually none. If SGE can't get any, how could the mints get any?

Before April 22 SGE took delivery of 200 + tonnes a month. So give me your explanation about why they are bone dry after 115 tonnes was "liquidated" from GLD in the time since the bear raid. Why have India and China only received a fraction of this gold during a period when supposedly the world is awash in gold bullion?

The answer : the world is awash in unregulated paper gold created by wild men, rouge traders and speculators..]]> http://seekingalpha.com/article/1441121/comments?source=feed#comment-18915371 18915371 Thu, 16 May 2013 16:20:27 -0400 http://seekingalpha.com/article/1405471/comments?source=feed#comment-18905201 18905201
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http://bit.ly/12qSj7n]]> http://seekingalpha.com/article/1405471/comments?source=feed#comment-18869081 18869081
I have just reviewed my lists: mkt cap, cash, cash levels data, the projects, managements, the economics. Stunningly undervalued, nearly free deposits and properties. 1400 POG is not a bad environment, in fact is good. If we get even 1500 POG I can see some three-four- baggers. 1600- 1700 will be good for some six baggers and if gold makes the run I expect, we will be shocked at the upside. This is painful but historic.]]> Wed, 15 May 2013 17:29:13 -0400
I have just reviewed my lists: mkt cap, cash, cash levels data, the projects, managements, the economics. Stunningly undervalued, nearly free deposits and properties. 1400 POG is not a bad environment, in fact is good. If we get even 1500 POG I can see some three-four- baggers. 1600- 1700 will be good for some six baggers and if gold makes the run I expect, we will be shocked at the upside. This is painful but historic.]]> http://seekingalpha.com/article/1436241/comments?source=feed#comment-18854451 18854451
http://bit.ly/12brXUL]]> Wed, 15 May 2013 12:29:16 -0400
http://bit.ly/12brXUL]]> http://seekingalpha.com/article/1433791/comments?source=feed#comment-18826241 18826241
Personally I think the problem was that management was overly conservative and did an unnecessary raise. They are currently heap leashing a steady stream of gold, and are two-thirds of the way through to commercial production towards 500,000 gold equivalent (with silver credits) at perhaps $200 cash cost. Makes Hycroft one of the best mines in the world, and in Nevada.]]> Tue, 14 May 2013 18:00:56 -0400
Personally I think the problem was that management was overly conservative and did an unnecessary raise. They are currently heap leashing a steady stream of gold, and are two-thirds of the way through to commercial production towards 500,000 gold equivalent (with silver credits) at perhaps $200 cash cost. Makes Hycroft one of the best mines in the world, and in Nevada.]]> http://seekingalpha.com/article/1433791/comments?source=feed#comment-18825791 18825791
The big picture should be the construction of their $1.25 billion facility which by my research is coming in well under budget.]]> Tue, 14 May 2013 17:46:47 -0400
The big picture should be the construction of their $1.25 billion facility which by my research is coming in well under budget.]]> http://seekingalpha.com/article/1433791/comments?source=feed#comment-18817591 18817591
http://seekingalpha.co...]]> Tue, 14 May 2013 13:57:07 -0400
http://seekingalpha.co...]]> http://seekingalpha.com/article/1430041/comments?source=feed#comment-18803871 18803871
I assume English is your second language, because that's the kind of mistake I make in my second and third languages, Portuguese and Spanish? In English the word "of" used in this context means the amount only. If 24,885 was used as the starting point of this math equation, English speakers use the word "from". Hope that helps?]]> Tue, 14 May 2013 09:07:25 -0400
I assume English is your second language, because that's the kind of mistake I make in my second and third languages, Portuguese and Spanish? In English the word "of" used in this context means the amount only. If 24,885 was used as the starting point of this math equation, English speakers use the word "from". Hope that helps?]]> http://seekingalpha.com/article/1430041/comments?source=feed#comment-18788521 18788521
According to the latest precious metals weekly report by Gerhard Schubert, Head of Precious Metals at local bank Emirates NBD, "Participants of the physical industry in Dubai believe that an additional 50 tonnes have been bought since the price crash in April. These sales figures are in addition to the ‘usual’ numbers and put a little perspective on the derivative side of the market."

The usual numbers that Schubert refers to are the same as the demand seen since April. According to World Gold Council data, total consumer demand for gold in the UAE (not just Dubai) stood at 51.8 tonnes for the entire year 2012, ]]> Mon, 13 May 2013 19:51:32 -0400
According to the latest precious metals weekly report by Gerhard Schubert, Head of Precious Metals at local bank Emirates NBD, "Participants of the physical industry in Dubai believe that an additional 50 tonnes have been bought since the price crash in April. These sales figures are in addition to the ‘usual’ numbers and put a little perspective on the derivative side of the market."

The usual numbers that Schubert refers to are the same as the demand seen since April. According to World Gold Council data, total consumer demand for gold in the UAE (not just Dubai) stood at 51.8 tonnes for the entire year 2012, ]]> http://seekingalpha.com/article/1428201/comments?source=feed#comment-18785331 18785331
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For those more interested in substance over style here is the April data out of India:

IHT: In China, households purchased jewelry during April at a rate 72 percent above that of April 2012, significantly higher than the 17.7 percent rate year over year in Q1, according to the Societe Generale Group.

India’s gold/silver imports increased by 138% yoy in April. Gold imports in April were $7.5 billion, compared to $3.1 billion in March.

http://bit.ly/10EcM5c]]> Mon, 13 May 2013 12:52:04 -0400
For those more interested in substance over style here is the April data out of India:

IHT: In China, households purchased jewelry during April at a rate 72 percent above that of April 2012, significantly higher than the 17.7 percent rate year over year in Q1, according to the Societe Generale Group.

India’s gold/silver imports increased by 138% yoy in April. Gold imports in April were $7.5 billion, compared to $3.1 billion in March.

http://bit.ly/10EcM5c]]> http://seekingalpha.com/article/1360671/comments?source=feed#comment-18750201 18750201
The Tokyo-based company plans to produce 500 metric tons of silver in the year that began April 1 from 357 tons in the previous year, said Hiromitsu Takagi, manager of the strategic planning and public relations department at Dowa Holdings. That would be the most since 2006, the company said.

Japan is expected to become the largest solar market after China this year, according to estimates by Bloomberg New Energy Finance, or BNEF. The forecast reflects the push by Japan to find alternative sources of energy following the earthquake and tsunami, which prompted the shutdown of all but two of the nation’s nuclear reactors. A rise in demand may support silver, which entered a bear market on April 2.

http://bloom.bg/12t3NFy]]> Mon, 13 May 2013 01:25:55 -0400
The Tokyo-based company plans to produce 500 metric tons of silver in the year that began April 1 from 357 tons in the previous year, said Hiromitsu Takagi, manager of the strategic planning and public relations department at Dowa Holdings. That would be the most since 2006, the company said.

Japan is expected to become the largest solar market after China this year, according to estimates by Bloomberg New Energy Finance, or BNEF. The forecast reflects the push by Japan to find alternative sources of energy following the earthquake and tsunami, which prompted the shutdown of all but two of the nation’s nuclear reactors. A rise in demand may support silver, which entered a bear market on April 2.

http://bloom.bg/12t3NFy]]> http://seekingalpha.com/currents/post/1019801?source=feed#comment-18717681 18717681
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