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October 6, 2011 / Hal (GT)

Gold strength still evident.


I got up this morning and fired up the computer since I have ExactPrice automatically load as the computer comes on, I was pleased to find that gold was doing well and had shown some strength in the overnight hours of the Asian and European markets.

And as I’ve been tracking it through the day it’s pretty clear that the strength has remained and silver is even doing a lot better.

Right now Gold is $1,649.90. Silver is $31.87. Platinum remains way below gold at $1,516.10 which is to me an indicator of how the industrial manufacturing is fairing in the economy today.

Here’s some stories for you.

Disconnect (updated) <- TF Metals Report is a great source and today is no exception:

Though the market for paper silver continues to be manipulated and schemed to the advantage of JPM and the other bullion banks, the market for physical silver continues to rapidly increase with each subsequent price decline. The message that the physical market is giving to The Cartel is clear: You may still win the occasional battle but, in the end, you are going to lose the war.

Meet the Sincere Gold Bugs <- Interesting blog post. HT to @Goldtwatter

Nearly Half of U.S. Lives in Household Receiving Government Benefit <- This can’t end pleasantly.

Michael Pento – Fed’s Time Bomb & Impact on Gold Market <- From King World News.

Why isn’t the Gold price going through $2,000 now? <- from Julian Phillips.

Planned Layoffs Surged in September to 29-Month High <- So, do you consider that a leading or lagging economic indicator 😉

Fundamentals Still Support Gold, 2012 Forecasts Increasing <- Indeed.

Vietnam’s central bank allows offshore gold trading restart <- Because that’s profitable.

Economy Contracting At An Increasing Rate <- Oouch.

Gold still stuck in a range <- From Dan Norcini.

Venezuela says gold repatriation to start soon

Price of gold sends jewellers through the looking glass

What is gold price suppression? <- Good blog read.

Ed Steer had a host of good links and I’m stealing something he wrote in the wrap-up:

With virtually all the leveraged technical longs flushed out of all the precious metals in the Comex futures market, we just have to wait around for the next major rally to develop.  And, as is always the case, it’s not the buyers coming in on the long side of the market that concerns me…it’s the entities taking the short side of the trade that will determine how far and how fast that prices rise….CLICK HERE TO READ THE REST….

Steven Cohen: The Battle between Money and the Majority <- Some interesting thoughts.

Load Up On Gold and Silver as Bernanke Dives Off the Deep End

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