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August 30, 2011 / Hal (GT)

Is gold in consolidation mode?

Labor Day is next week so this week could prove to be a bit of a snooze fest. Lot of people going on vacation and what-not but that does mean that there could be a few who can move the markets why no one is watching. Of course I’ll be watching gold and silver with ExactPrice.

I would like to see a nice sideways move for gold so that it consolidates and sets up a new floor to take take off from. I don’t think I’m alone in this feeling though are a number of people out there that want to see it skyrocket. There are of course the perma-bears that want it to plummet. Over all though, it would seem to me that politicians and economists are pretty much preaching the same words the spoke pre-2008 and so the fundamentals have not changed. So debt will remain the main driving force in the markets. Or perhaps more precisely the gorilla in the elevator.

Here’s some links I’ve come across in my feeds:

Lear Capital: Game Changer Helps Gold Shrug Off Another CME Hike:

While some are baffled at both Gold and Silver’s disregard for CME margin hikes, Central Banks of the world are gobbling up physical gold and silver.  Do you think China, with their $3 trillion plus in dollar reserves, really cares what the margin requirement are for a 100 oz. gold contract.  When you buy  gold by the hundreds of tonnes, and CME action is meaningless.

Americans Choose Gold as the Best Long-Term Investment <- HT to Laura Gross for this.

Gerald Celente – I’m Now 100% In Gold, Roubini is Wrong

Embry – Incredible Physical Gold Demand, Premiums Exploding

Bernanke’s Jackson Hole speech <- Casey Research breaks down the assertion from Bernanke that nothing has changed.

Bernanke claimed that the economy’s long-term growth fundamentals have been unchanged in the past four years.

Ed Steer’s Gold & Silver Daily <- Scroll down to Ted Butler’s comments.

There Is No Bubble in Gold <- short sweet words from Jim Sinclair.

Gold steady as disconnect between politicians and finances continues <- that headline is dead on.

PIMCO’s Bill Gross: Betting Against U.S. Debt a Mistake, New Recession Odds High <- well, duh!

Walker Todd: Fed’s lending against equities was as good as buying them

Real People Say “Screw You” To The Markets

Gold At $1,950 Within The Month Reaffirm UBS; JP Morgan $2,500 Year End Call Remains

The Wonderful Wizard of Washington:

Ah Ben, you’ve done it again! US Federal Reserve chairman Ben Bernanke has moved global markets by hinting ‘something’ may happen at the next meeting of the Federal Open Market Committee in September.

Rumours are rife that QE3 is on the table. That’s why we saw such a sharp rally in the US on Friday night…

More On The Gold “Bubble” And Why It Isn’t <- worth a read.

Gold Video of the Day: Gold Fever in Vietnam <- worth a watch.




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