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  • Without Much Fanfare COMEX Available Gold Drops To Lowest Levels On Record [View article]
    More food for thought : the LBMA website currently states :
    "In total it is estimated that there are approximately 7,500 tonnes of gold held in London vaults, of which about three quarters is stored in the Bank of England." (see )

    However, less than 1 year ago the same page (preserved for posterity by the Wayback Machine, at ) stated :
    "In total there is approximately 9,000 tonnes of gold held in London vaults, of which about two thirds is stored in the Bank of England."

    1500 tons sold from London vaults alone, in 1 year ? That's a lot of "pet rocks" heading eastwards...
    Sep 11, 2015. 11:11 AM | 1 Like Like |Link to Comment
  • The Battle Of The Bulge [View article]
    "playing with one self... if pursued in an unmoderated or haphazard fashion... can and will result in death"

    True enough. Do it while driving, chopping vegetables, or at the firing range, and you're just asking for trouble.
    May 18, 2015. 04:07 PM | 2 Likes Like |Link to Comment
  • The Real Reason Stocks Tanked [View article]
    I notice that Bloomberg often use the word "as", implying some cause/effect, when it's really just "at the same time as".

    For example, I remember seeing "Markets drop as Hurricane Sandy approaches NY" - three hours later, Hurricane Sandy was still approaching NY, but the markets were back up. Presumably the markets hadn't suddenly decided that a hurricane hitting NY was actually a good thing.
    Sep 26, 2014. 10:24 AM | 1 Like Like |Link to Comment
  • Hi-Crush, frac sand plays slide after Cramer says investors should avoid [View news story]
    I'm guessing *both*.

    "He may look like an idiot. And he may talk like an idiot. But don't let that fool you. He really IS an idiot."
    - Marx (Groucho)
    Sep 23, 2014. 02:21 PM | 5 Likes Like |Link to Comment
  • Cliffs Natural Resources: The Sell-Off Begins [View article]
    I think that would be what they call "a white elephant"...
    Sep 5, 2014. 09:54 AM | 1 Like Like |Link to Comment
  • Gold plunges 2.2% in biggest daily drop of 2014, miners sink [View news story]
    "Everyone is relying on China to soak up gold supply" : well they've got a very big sponge ($3 tn in foreign reserves - as well as the proven demand of 1 billion private consumers), and they've been putting it to work quite consistently so far. I think they're going to mop the floor with the Western banking system.
    Jul 14, 2014. 03:10 PM | 8 Likes Like |Link to Comment
  • Gold plunges 2.2% in biggest daily drop of 2014, miners sink [View news story]
    That's why I've kept a reasonable cash reserve, to stock up on a few more mining stocks during short-term pullbacks.

    Currently considering expanding my position in AG, and adding ANV to my portfolio.

    Happy investing : )
    Jul 14, 2014. 11:58 AM | 2 Likes Like |Link to Comment
  • CNBC: Tobacco dominoes about to fall [View news story]
    To be honest, I think you're right - probably far wiser to sell 60% at $80, rather than hanging on for a peak which might never come. As Rothschild (allegedly) said, the real way to make money is “never buy at the bottom and always sell too soon.”
    Jul 3, 2014. 03:51 PM | 1 Like Like |Link to Comment
  • CNBC: Tobacco dominoes about to fall [View news story]
    This I like. Bought LO in Feb at $47, if it comes anywhere near $95 I'm selling half my holdings and taking my capital back. Yummy.
    Jul 3, 2014. 02:25 PM | Likes Like |Link to Comment
  • U.S. senators push to outlaw e-cigarettes on planes [View news story]
    Laws tell you what's not allowed, or what's compulsory, not what is *voluntary* or *permitted*. Can anyone point to a federal law that confirms that I'm allowed to eat cornflakes out of a bowl ? ...I thought not.
    Jun 11, 2014. 12:39 PM | Likes Like |Link to Comment
  • Maybe I'm Wrong - Justifying $2,000+ Gold [View article]
    OK, I'll bite...

    The reason I believe your argument is flawed is one of the reasons you suggest towards the end of the article - "inflation is not a good long-term trend basis for gold".

    We could easily argue that *percentage of global assets* is a better basis for judging a proper price. In 1968, gold represented ~5% of global assets ('afaik'); in 1980, about 3%. It currently represents only about 0.8% of global assets. So (given that the supply is inelastic) it would need to rise roughly x3.75 to match the 1980 level, or x6.25 to match the 1968 level. Ergo, $4700 or $7800 might be "a fair price".

    Jun 2, 2014. 06:11 PM | 6 Likes Like |Link to Comment
  • Gold extends losses to 15-week lows on Ukraine hopes, stronger U.S. data [View news story]
    "Gold extends losses... on Ukraine hopes"

    At least 30 - maybe as many as 100 - died yesterday and today in the biggest escalation so far. Exactly what "hopes" are these ?

    (I'm not making any political point for either side - if people want to debate the rights and wrongs, they should go to another website - I'm just intrigued that gold has had such a large sudden decline on a day when full-scale war looks more likely than ever...)
    May 27, 2014. 05:03 PM | 5 Likes Like |Link to Comment
  • Palladium On The Verge Of A Break Out [View article]
    Highly doubtful, I say. In the last 3 years, palladium has held its price better than any of the other precious metals - from ~$800/ozt, it only dipped to about $600 (while gold dropped to the 61.8% Fibonacci support, and silver *lost* 61.8% of its value), and Pd is now back over $800.

    In the same timeframe, PAL's stock price has dropped from $7.63 to $0.26. Go figure. If they can't make a profit at those prices, then something is badly wrong. They might turn things around, but I wouldn't bet the farm (or even a set of new tractor tyres) on it.
    May 25, 2014. 02:34 PM | Likes Like |Link to Comment
  • Cliffs Natural -2.7% as Macquarie downgrades on weaker iron ore outlook [View news story]
    "expects CLF to burn cash"... at first glance, I read that as "expects CLF to crash, burn"
    May 16, 2014. 10:43 AM | 2 Likes Like |Link to Comment
  • Tesla: Were The Shorts Right? [View article]
    Obviously the shorts *were* right (when it was $250). The question is, are they right *now* ?

    (Me, I bought at $125, sold at $250, bought again on Friday... I'm now 'long')
    May 12, 2014. 01:01 PM | 6 Likes Like |Link to Comment