PMMaven

The U.S. Mint Again Suspends Gold Coin Sales: Is It Really Out of Gold?

Seems to me the only poster who knows what he is talking about is kahalakid. Also someone the other day thought 250M TO Silver was a lot. You gotta be kinding.

U.S. Mint Actions Discourage Gold Ownership

I agree with smarty-p. I have always thought that the mint could only use Au mined in the US. But aren't there situations where it is difficult to tell where the Au was mined? I assume there are.

Gold Breakdown

The amount of almost universal lack of understanding of how the gold market operates that i observe in all recent commentary is beyond belief. The cash market (London gold ring) is operated by 5-6 market makers. The number has changed over the years (JM got kicked out, Mocatta was taken over, etc.). They trade with each other depending on their needs and publish for convenience sake an AM & PM fix for purposes of settling with their customers. Basically they are bonifide hedgers, trying not to speculate.

If you are a cash & carry hedger and embark on an option writing program needing to write to a neutral hedge ratio daily you will have hundreds of options being traded.

Gold just trades inversely to the USD (not 100% though).

Gold Futures' Dirty Secret (Part II)

Referring to a primary producer as 'Hedging' when he sells futures is incorrect. I know that it is said universally, but it is really price fixing. They still have market exposure! Hedging is when a Merchant Banker buys in the cash market and sell futures. A primary producer or consumer cannot hedge. If you want to take physical delivery off a public futures exchange (e.i.-NYMEX, COMEX, etc.) you pony up all the money (after all the final notice stuff); then you will receive what is called in the trade a 'warrant'. Then you contact a certified carrier (Brinks, etc.) to pick it up at the certified warehouse (Chase Manhattan,etc). And deliver it where you want. Keep in mind all this stuff cost money.