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Stocks In Gold Down As Latest Stock Ramp Again Fails To Offset Purchasing Power Loss
The now traditional ramp in all risk assets continues to underperform the increasing fund flow into gold: a phenomenon we last disclosed after the most recent FOMC meeting. In other words, the S&P expressed in gold is down for the day. Which basically means that even with today's joke of a market move, the purchasing power lost as a result of now global currency debasement is not offset by some high beta name surging to all time highs. Even basicalier, it means that gold continues to do better than stocks every time there is a central bank intervention. And there will be much more central bank intervention before the location of the next world war release party is officially disclosed. Basicaliest: stocks ramp, gold ramps more. Nuf said.
Here is how Rosie describes this "surreal" situation from his daily notes:
The U.S. dollar has weakened again, which is one reason why the equity markets are on a more even keel today; however, we should be on a lookout for a countertrend rally in the greenback. The long euro trade has become quite crowded and it got a boost this morning from the service sector PMI, which came in at 54.1 in September from an earlier reading of 53.6. Make no mistake, the continent, together with the U.K., are every bit prone to a renewed economic contraction. Just look at Ireland and their banking systems, which are even more of a basket case than in the U.S.A.
A lot of attention is being placed on the Fed’s strong hints of QE2, but very quietly the ECB was buying a huge $730 million of bonds last week — ostensibly the only backstop out there for Irish and Portuguese debt. Now, in a sign of desperation — soon to come America’s way, so it seems — the Bank of Japan cut its policy rate the grand total of 10 basis point to zero on the nose and at the same time said it would establish a $60 billion facility to buy JGBs and other assets. So this helped trigger a rally today in both the Nikkei (up 1.5%) and the JGB market (10-year yield down to 90bps).
At the same time, there were more verbal hints of additional FX intervention to weaken the yen, and a sign that no country wants a strong currency today. The Reserve Bank of Australia refrained from raising Aussie rates today at the policy meeting — the Aussie dollar slipped sharply (by over a cent) on the no-move. The Bank of Canada has followed suit in shifting its rhetoric from “hawkish” to “dovish” in a bid to clip the loonie’s wings, especially given the sudden slowing in the domestic economy.
All sorts of efforts are either being announced or contemplated to resist currency appreciation from India to Korea to Taiwan and now Brazil as well (the latter just doubled its tax on foreign bond holders, to 4%). Hence the allure of gold and silver as currency surrogates with a more inelastic supply curve (we could probably even include platinum in there).
Tin is hardly precious, but global supply disruptions have helped it to a 51% price surge this year. Again, more attention is being placed on the fact that the S&P 500 is up 2% so far this year than on where the real money is being made — commodities in general, metals in particular.
Are currency wars any different from trade wars? We may indeed look back at that comment (“currency war”) by Brazil’s finance minister (Mantega) back on September 27 as a critical inflection point. The fact that nobody talks about this, preferring instead to justify their positions on a bond yield/earnings yield gap, is even more reason for caution. And of course, overnight Bernanke voiced his support for additional expansion of the Fed balance sheet, which means more expansion of the money supply. Whether or not velocity turns up ahead of a new credit cycle remains to be seen, but again, the implications from all this global stimulus is clear: nobody wants a strong exchange rate, and the only certain investment theme that comes out of this, in this era of intense uncertainty and beggar-thy-neighbour currencypolicies, is precious metals.
Indeed, gold just hit a new record high of $1,328/oz this morning (in the aftermath of the BoJ move) for another 1% gain and is now up 21% for the year, and as far as we can tell, the only asset class to have generated a positive return now for 10 years running (longest winning streak since at least 1920, according to Bloomberg). The legendary Jimmy Rogers reportedly told CNBC today that the yellow metal may well hit $2,000 in the next decade (and that may end up being conservative — then again, 4%-plus average returns are not that bad at all in a deflationary backdrop).
Silver, without much fanfare, is performing even better, with burgeoning global demand for solar panels and batteries providing some extra torque from the already solid investment-related buying activity. Even if we are due for a technical pullback, the precious metals complex is in a full-fledged bull market, and not until the world’s central banks have the gusto to start tightening monetary policy, then rest assured that ultra-low gold leasing rates will keep the trend in prices on an upward trajectory.
Meanwhile, stresses are still evident in areas like consumer credit delinquency rates, which edged up in the U.S.A. to 3% in Q2 from 2.98%, stalling a three-quarter improvement. U.S. consumer bankruptcies also rose 11% in the first nine months of 2010, to 1.16 million.
Moreover, for all the talk of recovery and reflation, from our lens, these are next to impossible without credit expansion. The latest data from the Fed showed that in the September 22 week, bank credit contracted $71.8 billion on top of a $13.7 billion decline the week before for the sixth steepest slide over a two-week span on record (and right across the board from business credit to real estate to consumer loans).
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I'm a Rocket Surgeon, split neutrons in my spare time, fucking aye.
Split neutrons? I kill neurons in my spare time!
I shit quark plasma !
I compress real particles out of the virtual quantum soup!
and no one can stop us now cause we're PARTICLES bitchez.
Well...it looks like the EE has seen enough for today. They've made their first capping efforts up near the high of the day. $1340 appears to be the latest "Maginot Line" for them. Expect it to work, for a few days anyway. Wouldn't surprise me if we've seen the highs for the week. Stay nimble!
Yeah, but have you seen the move in Silver? Up over $1 today, closing in on 5%.
Oh, and Gold just - finally - broke and is sitting @ $1,341.35 atm. Let's see if it lasts.
Yep, the EE is trying but gold sure looks like it wants to take a run up at 1350. Maybe happen overnight? Still, if it does, you can bet your ass a bunch of fresh, new paper shorts will come out to attempt to bang it back down tomorrow am NY time.
The employment report has all the trappings of a fuck job at this point. Just like last December. Everybody got sucked in to gold and out of the $ and, lo and behold, the Dec employment number came in a little better than expected. The $ began a huge rally and gold went into the shitcan. May not happen Friday but I can't get that old feeling out of my head.
Nuf said. bitch
ez
i like "beach" myself.
Never mind gold, check out the affordable cousin...
http://www.goldsilverbullion.com/WCMdesign/BullionPICs/BullionDetailPics...
+$20.5 +3.7%
I thought you meant silver, you got palladium! It's rocking right now!
"Who let the bugs out?--Who let the bugs out?"
http://www.youtube.com/watch?v=1uaPs8sxqB0
uncle AL, let the dogs out.
Make sure you trade to gold when the time looks right. It's pretty, but it ain't money.
Basicaliest: stocks ramp, gold ramps more.
For further explanation, a picture is worth a thousand words:
http://steadfastfinances.com/blog/wp-content/uploads/2010/07/Historical-SP-500-to-Price-of-Gold-Ratio-1900-to-2010-credits-Zero-Hedge.jpg
When will gold top? About when the SP500/gold ratio hits the red line. It may dip below that though.
Thanks for the chart - nice one
boy, gold up almost 23. dollars. isn't that a pretty big per¢age?
taking out a Fed Chairman. Gives you a woody, doesn't it.
Can you re-post that on a log scale? Looks like going down to the red line suggests ~ a tripling in price (holding SPX constant).
basicalier!!
"basicalier" "Basicaliest"
I think I sprained an eyeball.
Stíbrná Fenas!!!!!!!!
This is such a laugh. Gold is on a torrid pace today so they have to continue to ramp equities up ever higher.
GS, not so much. For a good time, ask why GS has been far less volatile than the herd.
Maybe Lloyd figured he didn't want to make it look too obvious. Then again, when did that ever matter?
Is there any chance we could get a historical chart of this since the S&P peak in 2007 to present?
Does anyone know where a layman can create charts like this?
Thanks
TD,
How broken are the AUD/JPY and 30's10's2's correlations?
Very
Exibiting signs of bustification.
bitchification
bitchaliest
basically, basicalier, basicaliest......hey look at you conjugating insanity!!
The price of Gold wil be $1337 soon!!!11
NOW!
1337.10
I wonder if the elite masters get the joke.
$1,340
And yes, they get the joke because the joke's on us, the so called middle class worker bees. Don't believe for a second that the elites are not buying Gold. They are and as much as they can in physical form. This will eventually become obvious.
And everyone I know will not be thankful I told them so, over and over and over and over again.
---
With a buddy in a typical, large sports bar section of a family restaurant yesterday. Manager enjoying food a few seats away explains, in what seems to be a routine for him, that his bartendress graduated last year in econ.
My "glee" sets in.
She comes to drop off the updated tab (happy hour) and I refrained from asking why daddy's little girl graduated from a glorious state school with such a fancy degree yet is (un)employed serving alcohol. Instead I gave her the false choice ambush: "So, is Greenspan a traitor or simply an old baffoon?"
Yep. Daddy's girl. She doesn't give a shit about econ and doesn't know what I'm talking about. A nation of slaves.
Ignorance is bliss.
And intelligent and well educated ignorance is even more blissful.
You may not be able to eat gold but you will always be able to eat if you sell it.
With paper you may eat today but you will may not be able to eat someday soon.
I just dont know how the Fed is able to get away with this magnitude of money printing, its a wonder really. Let alone contemplating the next round of QE.
"...even basiclier...",
thanks a lot Tyler, that's another notebook destroyed by 'misting with coffee'. Luckily, thanks to 'deflation', they are a dime a dozen these days; the espresso on the other hand...oh well, at least ZH is doing its part to keep us consuming and the economy, uh, recovering.
Regards
Tyler has me running to my dictionary at least once a day, but I didn't even reach for it this time. Too funny.
I reserve the right to use it in future articles. Of course, with proper attribution to Tyler.
oops, my computer is on delay.
have you been bounced around yet?
I don't understand some of your replies. I understand water wings is har ass ing me. what are you doing?
Can anyone suggest a good ratio of ES to GC to trade this?
Gold and equities are the same trade.
Both are "Risk Assets".
Gold bugs should be rooting for Dow 14,000.
And stock bulls should be rooting for $1,500 gold.
All these gold bugs cheerleading for a crash in the economic system are fools.
I would have to agree. IF Gold is going to be a 1:1 ratio
I'll take Dow 36,000
The difference, Robo, is that people aren't buying gold for risk or speculation. They are buying gold because they are scared and want to avoid risk. I am highly skeptical that a collapse in the market will do much other than make a slight dent in gold value.
you misunderstand Robo. he said the gold bugs should WISH for Dow 14,000. And of course he is correct.
They are the same trade with the exception that gold is now outperforming stocks during "Risk on" days. So why buy stocks at all when you can get a better return on gold?
Funny how everyone chooses to ignore this simple inequality, which we have pointed out about 5 times now.
But Tyler, cognitive dissonance sets in.
How can an inert lump of metal beat professional hedge fund managers, and the entire US stock market, for 10 years running?
This just can't be true! My financial professors told me so! So I will just ignore gold, until it reaches $5000, then I will desperately buy into the blow-off top and lose all my money.
Sounds like a plan?
Agreed. For the conditioned mind to break from it's conditioning, it must feel panic in order to overcome the pain of being non-compliant. Sadly this is usually well past the point where it's beneficial to change tracks.
This is why in a burning plane that's on the ground, so many people stick to the aisles to get to the exits. Studies have shown that those who quickly climb over seats or even break social conventions and push to the head of the line are the ones who survive.
He who panics first lives to panic again.
I think the 'panic' part is about to be introduced, looking at Obamas approval which has shed another 2 points since the start of the Sept 800+ point DOW run up, in my opinion to restore Obamas strong disapproval. The 'placate the peasantry with BS' didnt work, on to fear and panic Plan B now.
coggy i have been practicing this my whole life. i can climb over seats like no tomorrow, cause that is my escape route. climb out of first floor windows really really well too. i have an advantage with really really long legs. but hey, use what you got. like not a great mind, but long legs. she's got leggs†
http://www.youtube.com/watch?v=tLw1_6jBIJM&feature=related
Oh, you figured out how to use the blockquote. Good f o u r you.
good fore you, har ASS her. I didn't know it wascalled a block quote, thanks four the update.
ahh the psychology of a compound interest that must be defined downward. in the meantime Wisconsin Energy "was forced" to price a note at 7 plus percent. This is an equity that has hit nothing but record highs "during the double dip." I agree "this is expensive." They seem good for it--and needless to say the lenders are already well compensated for both "the 7" and "being good for it" being true. I may look for a way to fight that materially but how am i better off should i do so? psychologically? sorry, but that's one weak rationale for "buying into it." the inevitibility of loss? interesting...but it needs to be true. in other words "the market must go down" yes, yes?
Even worse is that some gold stocks aren't even keeping up. Like the ones I own.
Paper burns, unfortunately.
double post, sorry
Peak oil is back robo.
Ya. We're fools to think a crash in the system will do any good. I'm sure the powers that be will do all their dirty work killing and creating fear juice all on their own without paying henchmen. Because they believe so strgongly that it's the right thing to do.
Watch your tail Robo... VZ is going to start facing headwind from here to $35. As for the market, the Flash Crash high continues to contain this beast.
No, equity stocks are complete bullshit, while gold is the currency since the beginning of time. Well not counting seashells and beads of course.
'All these gold bugs cheering for an economic crash are fools'.....Uh, the economic system has already crashed. USA 75% Borrow to Consume economic model lay in ruins. Only thing youre buying into Robo is a fraud print and pump economic model, way worse than the ridiculous Borrow and Consume economic model.
I buy Gold because it is an act of fucking REBELLION! Get it. Where is a serf to run? I recall seeing where an archeologist found 200 Roman denarii's hidden in a garden statue. How much have things changed? The Emporer needed a new fucking temple to show the citizens what a God he was. So send out the tax collectors. You know we have two wars, need bread, the circus is coming to town, and of course I forgot the children are hungary.
If your children are truly hungary, kenya perhaps serve them some turkey, andorra bowl of chile? No need to use your best china, however or your best table linen --- they will just get greece all over it. And oman, are greece stains hard to get out!
lying in the sun nay kid
HEY, ROBO, I THINK SANTA WAS THINKING OF YOU WHEN HE WROTE THIS:
In The News Today
Posted: Oct 05 2010 By: Jim Sinclair Post Edited: October 5, 2010 at 11:50 am
Filed under: In The News
Thought For The Morning
All the mean emails from hedge fund managers and gold shorts calling me a pinhead telling me there isn’t a snowball’s chance in Hell of gold trading at $1650 on or before January 14th 2011 seem to have stopped.
The truth is if it does, I am joining a Franciscan Monastery for the mute.
basicaliest!!!!!
This gold and silver bug just with big smile on
face and glad he bought lot of insurance against
the mad man(central bankers + politicians)what
an easy bet hahaha fck morons
Oil has finally broken out of its trading range ...
to the upside.
JPM may be able to affect gold, and silver,
but oil is just too, too big ....
Too many dikes and not enough thumbs, despite these guys being pretty much 'all thumbs'.
Regards
Tho with oil, it becomes a catch-22 as when the price goes up supply rises as consumption falls. Think oil will be able to sustain above $90? I do not believe so unless they start handing out "Oil Consumption Stamps" to the millions of unemployed. Oil is not responding to fundamentals. I fear that everything is a bubble at this point as wealth is being destroyed, and we are obviously getting inflationary (or expected inflationary) pressures. It is the 70's all over again, and we know how economically the 70's ended up being for commodities.
http://inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm
In Maryland they already do give out "Oil Consumption Stamps". It is called energy assistance. If you are low income the States pay for your Oil and Electricity.
The subsides will fall though with the fiscal problems that are rampant and layoffs still continuing.
GLD and SLV on life support; massive attempts at redemption coming; wow; was that a religious statement? Karma's a bitch.
Long SP500 short USD. ZERO risk!
ermmm, if stocks go to infinity, but the currency they are in goes to zero, how much money do you have? Zero.
what you mean to say is "if stocks go to infinity but bread goes to infinity how much money do you have" yes, yes? i mean this statement makes no sense. you and i don't trade currency at the grocery store. we SPEND it.
When I opened my trade console today, everything was up: indices, precious metals, and every single currency against the dollar. This has not happened since the 2008 crisis and the January 2009 QE.
All the stops are being pulled as the desperate CB's do everything and anything to prevent a market crash. There can be no sideways churn anymore. It must either go up quickly or it will most certainly go down even quicker.
"It must either go up quickly or it will most certainly go down even quicker."
CD, shouldn't that read "quicklier"?
Also, why the heck is nat gas still always the stepchild. Someday soon it has to regain its store of value status regardless of current supply. It is green today...currently up one thin cent.
Methane always gets a bad rap..
"Not shit! Energy!"
It's tough to export. It can only reasonably be used by now impoverished Americans.
LOL
My over 60 brain isn't as "quicklier" as yours is to instantly adopt new social movements. I need a 24 hour turnaround for the new information to be assimilated into the central CPU and another 2 days of playing with it before I can use it in a sentence. :>)
Bah, verbogeny is one of many pleasurettes afforded a creatific thinkerizer.
i know i know, what are CB's besides cheeks initials?
I miss Cheeky as well and I hope he's OK. He has some serious health problems that have kept him off ZH several times in the past. Other than that graphic he posted some days ago, he's been missing in action for months. Very sad.
To answer your question, CB's in this case mean Central Banks such as the Federal Reserve or the Bank of England and so on.
oh that was a fine reply, thanks. I'm going to find him, it is my new "task" and as one ZH er said, woman will die trying to execute their tasks. I have nothing else to do cept save the planet
My 'Armageddon' portfolio is green across the board. I might not work today. Up nicely, being held back somewhat by my soon-to-be-worthless cash hedge position.
Same here, SW. Want to knock off early and go get a pint from Terry at Penny Lane?
No one is shorting. No one to buy the pump. Long only Traders now.
Look at my Gold and my Goog soar. It looks like the Fed wants to make everybody happy. Thank you Uncle Ben. I love you. If I wasn't married and a straight male, I would kiss that sexy beard.
i ain't married am a straight female, but the last thing i would ever kiss is anything on that dude's head. especially hair. wonder if the drapes match the carpet, and he doesn't have any down there.
you don't want to rub the baldness? LIAR!
not his fore (skin) sure.
Who knew STYX nailed it a few decades ago
Everyone sing together!
POMO Arigato Mr. Roboto
http://www.fundmymutualfund.com/2010/10/bookkeeping-adding-index-exposur...
Given the very quick up in gold, it is possible that the Crimex and JPM are experiencing some serious troubles right now (demand of physical redemption?)
Their monitors state the following: "Your mouse has moved. Please restart Windows for these changes to take effect."
Chart: USD/JPY
Your government proudly at work...for you.
http://99ercharts.blogspot.com/2010/10/usdjpy_4412.html
When is the Japanese Govt (indeed, the rest of the World) gonna figure out that the US Printing presses are doing Warp 9??
YOU CAN'T EAT GOLD!!!
You can't eat wheelbarrows of dollars too.
It's SUPPOSED to be a garnish. Just a couple in your salad.
Sorry to wake you up but gold has outperformed everything on a historical basis. Its a store of value that has stood the test of time. You may sell your dollars for less tomorrow but lets not spread your delusion here given that the Fed openly headed towards more QE.
i thought wheat was better ytd. maybe gold et al is just making up for lost time. of course "wheat must grow." the "et al" is mined. year around. and remember Highlander..."there can be only one."
You cant eat worthless stocks or worthless dollars either.
Gold=MONEY
Silver=MONEY+much more
Cash=trash
Rare earth metals bigest bull market ever?!
Stocks when P/E ratio 5-7 div 7-9%
Bonds when interest 15-20%
Houses 6y-8y rent to buy
Good luck
I'd say it's too late for the rare earth rush. That's all about China cornering.
http://www.reuters.com/article/idUSTRE6932NR20101004
" before the location of the next world war release party is officially disclosed"
this is the second time today that Tyler has dropped casual mention of the next world war into an article and nobody has commented on it
G. Edward Griffin in "Creature from Jekyll Island" goes into a lot of detail about how the central banks start wars and fund both sides
other writers talk about the common path that civilizations take - at some point in the decline of most civilizations, war becomes the most common next step
seems to me that we are at that point in Western civilization ...
War's a great way to solve the unemployment problem. Send a few million unskilled peasants to a glorious death.
griffin ripped off mullins' 'secrets of the fed'.
http://jewwatchusa.blogspot.com/2009/01/jew-watch-usa-writings-of-eustac...
Fuck you, you piece of shit. Go spew your filth somewhere else.
Of course theres the innevitable world war brewing, I've commented on it many times.
Would love to be a fly on the wall at JPM's commodities desk right now....
What about Oil, why is it so terribly cheap measured in gold? It's at a near record low. Certainly with all the money printing crude should be at $350 shouldn't it?????
patience, grasshoppah
$100 will come first, before the end of the year
Oil is not priced in gold, its priced in dollars, for now anyway. Sure youre right, oil should be at $350 meaning gas would be about $10 a gallon, spurring bankrupt unemployed foreclosed america to shopping spree trips!
Again, please keep in mind that roughly 80% of the gain in gold from the lows of July can be traced to action on Mondays and Tuesdays.
We will, most likely, see the highs for the week later today or overnight. The BLS will, almost certainly, cook up some strength in the jobs number on Friday leading to a $ rally and a gold selloff back to 1320 or so.
I dunno, it feels like the game has changed. We haven't had a pullback that lasted a day in a weeks.
Theyre desperate to pull off this election and avoid total humiliation for Obungler, but thats impossible. All this stock pumping fraud is just making Main St peasantry far more angry.
I don't think main street really cares. They surely aren't invested, they are broke and unemployed and so a rising stock market only angers them more because the fat cats that have the cash to invest are the only ones making any money.
I hear ya, ITG. Just keep in mind that if you're trading gold for fun or profit, you always want to sell into strength and buy on weakness...as counter-intuitive and challenging as that may be. Today, though very stout, would traditionally be a great day to lighten a little with the hope of buying back in on Friday.
Well likewise all of the index gains since DOW 6,500 have been in pre-market futures.
The importance of Ron Kirby's article should not be under estimated. More and more people are on to (and writing about) the FED/Treasury/Bullion Bankster scam and fraud with USD/precious metal price manipulation. How long until the story explodes in the MSM? It's too huge a story to suppress much longer. Then the race to dump fiat paper is on.
Great snag on this one Tyler.
=============
The Federal Reserve is Selling Paper Gold and Buying Physical Gold
Submitted by Rob Kirby on Mon, 4 Oct 2010
http://www.financialsense.com/contributors/rob-kirby/the-federal-reserve-is-selling-paper-gold-and-buying-physical-gold
CRIMEX is glowing like chernobyl.
such a pleasure watching JPM getting sqeezed like a pimple
Be sure to check Harvey Organ tonight. I'm sure he'll be glowing, too.
We shall not enter a period of deflation or smell the coffee unless you see social unrest on the main stream media, until that happens it is go go SPY. Once shitybank sent a note out to its high networth clients that their biggest risk is social unrest since they cannot produce more votes through QE and the rich have just one vote like everyone else.
Did all you BSDs buy the dip yesterday??? Nuff said!
Picked up some TNA and already closed it today to do some deep OTM puts shopping for 2011.
S&P expressed in gold is down today in purchasing power despite the furtures ramp, Loser Leo.
He certainly is. As are all clueless, statist Keynesian true-believers.
Leo, I would buy the dip, but I can never find your name in the stock quotes.
Go ahead! Ramp oil back to >$100. See what happens....Again!
Does it really matter anymore. It is obvious that the market will only go in one direction. All negative news is discounted. One day there will be a major correction but for now, I'm out. You can't win in a rigged casino. Bubbles everywhere but it doesn't seem to matter one bit.
It's all bullshit.
Opulence, I has it !!!!
http://www.youtube.com/watch?v=AkMsSIjQXxo
The only reason to hear angels singing when AU is going up is that you are not losing as much wealth. When converting FRN's to AU you only increase the probability of having a better life in the future (not to mention that you are crashing the Oli's invite only party). When gold goes up it means that your ice-cream containers are going to get smaller, you will need more shock absorbers for your car, and the gov is going to get a whole lot nastier. Gold on Viagra is NOT a reason to whip it out and start stroking, nurse at the keg, or do a Mexican hat dance around your sombrero.
Good line of thinking.
Whoever junked me will end up as my first indentured servant after the reset! I am going to be one hell of perverted master! You better be stocked up on propylene glycol baby.
brilliant
when the mainstream inverstoriat gets religion that gold is the best bang for the buck, will everything else get sold off?
You can just smell the grey market transactions that are going to occur from those who ascertain that they have 'excess' AU to play at risk. Productive assets (and their security) will be the first to meet the exchange. Arable land, agriculture, security, access to easily enslaved labor, and opportunities to be the new lender in the reset world.
Hambro Says Gold May Reach $1,500 an Ounce by Christmas: Video
Peter Hambro, chairman of Petropavlovsk Plc, a gold and iron ore mining and exploration company in Russia, talks about the outlook for gold prices.
Brazilian Real is pegged to gold from several months ago...
Yeah Gold pp is way up ,unless you own that crap that ZH loves PHYS !!! Eric Sprott's thief holdings!!!
$1340, bitchez.