MineWeb: Gold knocked down again...and again GLD, GDX, GDXJ, MUX, TNR.v

  Gold market manipulation is back in full force and we will see in the nearest future who is behind it again. Chinese buyers will send their "Thank You" notes to the clueless banksters, who are running around the clock in the game of musical chairs, when every ounce of Gold available for delivery on COMEX has 55 claims against it. There Is No Physical Gold Left For Delivery now.
  We do not need any war, particularly, in Syria for the Gold Bull to be unleashed again and one can even argue that after nuclear strikes even Gold will not brighten any one's future. We all know the drill by now: Smash Gold and find another distraction from the real economic situation. Bring some bread, sorry, Food Stamps and Circus.
  Once the warmongering is over and people will look at the real problems, Gold will resume its march higher with every new US dollar in debt created. Welcome to the next stage and Debt Ceiling circus entertainment.

Max Keiser: Turd Ferguson Reports That JPMorgan Has ‘Cornered’ The Comex Gold Market GLD, SLV

GLD ETF Investors Unable To Get Physical Gold GLD, GDX, GDXJ, MUX, TNR.v

"Soon we will find out again who is behind this attack on the Gold today. Among many reasons about this timing the most important is the Bank Run on the Bullion Banks. China is more then happy to buy out all Gold on Sale now.

  Now we have reports from Grant Williams and John Hathaway that GLD investors are unable to get the delivery of physical Gold."

Gold Short Squeeze: COMEX Deliverable Gold Bullion Drops To Levels Not Seen Since 2003 - Claims Per Ounce Around 55 GLD, MUX, TNR.v

MineWeb:

Gold knocked down again...and again

Signs of gold market manipulation with strange sales patterns emerging have reappeared and gold’s hoped for post-northern summer recovery has been nipped in the bud yet again.

Author: Lawrence Williams
Posted: Friday , 13 Sep 2013 

LONDON (MINEWEB) - 

The strange dealing patterns which were adversely affecting the gold price earlier this year appear to have returned again following the end of the northern summer holiday season. We were looking for some direction to be forthcoming now the money people are back at their desks – and so far this activity appears to be negative.

Why do we think these are strange dealings? They revolve around the unloading of a lot of gold contracts in a very short space of time out of hours at a time of day that there is normally little or no activity in the markets, and no news story being released at the time which might have precipitated such a dramatic shift. This has happened for both of the past two days, and we can probably expect more of the same. This is manipulation pure and simple. It’s not a logical pattern for any dealer to follow to generate maximum value for their sales, although arguably those holding big short positions would find the moves more than satisfactory. However some of the ‘usual suspects’ reckoned by the gold bulls to have been responsible for similar movements in the past have turned long on the metal, so perhaps they are not guilty after all.

Some even reckon China may be behind the manipulations which seem to be taking place after close of Asian markets and just ahead of opening of European ones. With the kind of gold purchasing activity seen in that nation when the gold price dropped so sharply back in April, perhaps this could be seen as yet another way of moving physical gold from West to East as part of an ongoing pattern to corner the global supply of gold. Certainly Western gold inventories seem to be declining rapidly and no-one is really sure how much physical metal actually remains in central bank coffers given their rather opaque accounting mechanisms. Who knows?

But, what seems to be apparent is that the kind of seemingly illogical activity seen in the gold market is still continuing and unless there is a major change in purpose from those causing these strange price patterns, then gold – and the other precious metals which move on gold’s coat tails – will likely continue to remain depressed which is very disappointing news for the junior gold sector in particular, which continues to remain very depressed. Indeed so many companies are just hanging on by the skin of their teeth at the moment that they may not be able to survive for very much longer.

With some estimates suggesting that about half the world’s new mined gold production is unprofitable at or around $1300 an ounce, there will have to be some more attrition here unless there is a very rapid turnaround in the price. World gold output is likely to be at best flat this year – it may turn down a little – but not drastically as one of the effects of a low gold price is that those on the edge, which have the capability of doing so, will be mining higher grades to try and stay afloat. And high grading at the same mill throughput means higher output of physical metal, albeit at the expense of longer term mine life. This pattern will likely continue, accelerate even, should the gold price remain at or around current levels, or lower.

Long term, of course this will all turn around, but who knows what period of time will be involved before this happens? In the meantime be prepared for more of the same, and additional volatility around economic data and any U.S. Fed intimations of tapering or otherwise. Same old, same old."

Max Keiser: Turd Ferguson Reports That JPMorgan Has ‘Cornered’ The Comex Gold Market GLD, SLV

  Max Keiser is on fire in this episode. Turd Ferguson joins after 13.00, but the intro is worth watching on its own as Max lays out his "Big Picture". Now we can put the yesterday's sell off in the Gold market and all orchestrated "market volatility" with the Gold this year in the perspective. 

  We will provide a few entries if you would like to dig dipper:

World Bank Whistleblower Interview On Central Banks, FIAT Currencies and Gold.

"Listen carefully to this explosive interview with Karen Hudes. She has spent 20 years in World Bank as a lawyer and was fired upon the exposing ongoing corruption over there. Now we will have a much better understanding about the Cabal and why Neocons and their puppets are so desperate to escalate the Currency War to the new Cold War and even the WWW III based on Syria YouTube evidence.

  Today, when Gold is punished again, it is very good time for reflection and education for the place of Gold in the recent corrupt FIAT based monetary system and the upcoming new Gold based currency system, which is already under implementation by the BRICS countries."

GLD ETF Investors Unable To Get Physical Gold GLD, GDX, GDXJ, MUX, TNR.v

"Soon we will find out again who is behind this attack on the Gold today. Among many reasons about this timing the most important is the Bank Run on the Bullion Banks. China is more then happy to buy out all Gold on Sale now.

  Now we have reports from Grant Williams and John Hathaway that GLD investors are unable to get the delivery of physical Gold."

Gold Short Squeeze: COMEX Deliverable Gold Bullion Drops To Levels Not Seen Since 2003 - Claims Per Ounce Around 55 GLD, MUX, TNR.v

Jesse has summarised the COMEX explosive situation for us this week. Gold LBMA fractional reserve system is under The Bank Run now.

  Big boyz know too well about it and have positioned themselves well in advance before the Syria escalation. We are just wondering: How would they know about it in advance?

  And by the way, this is what happened with Gold after 2003:

Turd Ferguson: More Evidence That JPM Has Cornered Comex Gold GLD, GDX, GDXJ, MUX, TNR.v

"We continue to build up our puzzle together for The Crime Of The Century - Gold Market Manipulation by the banksters. Planet Ponzi run by the banksters is very cynical in its attempts to push everybody to the worthless FIAT IOUs by all means necessary.

  Turd Ferguson provides very interesting findings on the recent events behind the curtain in the gold market and what could happen next. 

  It appears that the Boyz from Goldman Sachs and JPMorgan know too well where the Real Value is and they were  shaking the tree very hard to get out of Gold short positions and accumulate longs from the weak hands in the market place, just before the Syria geopolitical card will be played out."

  

Guess Which "Bearish" Bank Bought A Record Amount Of GLD In Q2 GLD, GDX, GDXJ, MUX, TNR.v

"Zero Hedge reports what we have already suspected, but now it is the matter of fact and we have the clear answer Who Was Buying. We must be close to that Waking Up Moment Peter Schiff is talking about."

Grant Williams: If Gold Shorts Miscalculate "There Is Going To Be Hell To Pay" MUX, TNR.v

  

  Grant Williams was spot on all recent developments in the Gold market and coming Short Squeeze. His view from Singapore on the markets in Asia and Gold are extremely important. Shorts in Gold, Gold and Silver Stocks are heading for a serious trouble these days.

Rob McEwen Shares his Views on Market Conditions and Future of McEwen Gold Mining Projects in Mexico, Argentina and Nevada MUX, TNR.v

"The whole picture has been set up for the major move in Gold and Silver now. McEwen Mining will enjoy its high leverage to the Gold, Silver and Copper price. Rob McEwen is on the road telling his story and delivering results.

Shorts are busy now covering their 27 million shares Short Position in McEwen Mining as of August 15th, 2013 and it will provide the fuel for the upside breakout."

Grant Williams: West Is Now Running Out Of Physical Gold GLD, GDX, MUX, TNR.v

"Grant Williams was guiding us through this brutal attack on Gold market with his brilliant presentations and his observations on the real things happening now in Asia with Gold are very important."

King World News:

If Gold Shorts Miscalculate "There Is Going To Be Hell To Pay"

Today one of the most highly respected fund managers in Singapore told King World News that the gold bears are in serious trouble at this point in the gold market.  Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also warned that if the shorts miscalculate, “there is going to be hell to pay.”  Below is what Williams had to say this powerful interview.

Williams:  “We have seen some real weakness (in stock markets) in Asia.  We have a lot of the smaller markets in Asia really getting pounded.  So far this year, the Bombay indices are down almost 30% in currency-adjusted terms, with the fall in the rupee.

We also have the Indonesian stock market down 24%, and Thailand down 14%.  In dollar terms we are seeing some real plunges.  Thailand has fallen 20% in the last month.  This is all capital flight out of Asia.  And there are some drastic measures being put in place by governments to try to stem this, including the ban of imports of gold coins in India....

“Asian governments are very, very concerned about this.  This is how the Asian currency crisis started in 1998.  Unless they can get a handle on this fairly quickly, these 2% falls will become 5% plunges, and then 8% nosedives.  Pretty soon they will have a real crisis on their hands.

As we approach the September Fed meeting, and this taper that everybody has been talking about -- there are more and more reasons for them not to do it now.  But, of course, having talked tough and already said they were going to ‘do it’ -- if they do back down, and the weakness in these Asian markets certainly could be a valid reason to back off, along with some of the weaker data we have seen in housing and durable goods in the United States -- I think what’s left of the Fed’s credibility is probably shredded at that stage.

So my concern for a while now has been, what happens if the Fed doesn’t taper and the markets fall anyway?  I think that’s a very real possibility, and if it happens it’s going to be fairly explosive to watch.”

Eric King:  “Tom Fitzpatrick, Ron Rosen, Eric Sprott, and others on KWN, have been discussing the idea that global stock markets may now experience a major decline, but they believe gold and silver would skyrocket in the face of plunging markets.  As the Asian markets were tumbling overnight, I noticed that gold and silver were showing signs of strength.  Fitzpatrick was also pointing out that in the 1976 to 1980 time frame, stocks really struggled and yet gold and silver skyrocketed in the midst of that market weakness.  Are these guys right that we could see plunging stock markets, but a massive move higher in the metals like we saw in the late 1970s?”

Williams:  “Yes, that’s not a crazy idea by any stretch of the imagination, particularly with the added problems in the Middle-East right now.  If you look at the S&P, that market is very near all-time highs, but if you look here in Asia, since May, which is when the taper talk started, a lot of these markets are already down 25% in dollar-adjusted terms, and even 30% in some cases.

So equities have already had big falls, but we just haven’t seen it yet in the headline markets such as the FTSE, the Dow, the Nasdaq or the S&P.  But markets here in Asia are certainly sounding a warning about where major markets are headed.  All of this seems to point to one thing and one thing only, and that’s more printed money. 

This is why I don’t think the case for gold has ever been stronger than it is today.  Even when gold was up at $1,900, I don’t think the case for gold was as strong as it is now.  And the fact that gold is now $500 lower just strengthens that case even more.

With what has gone on in the last few months in gold, the fact that the physical backing for these futures contracts is in such short supply, this adds a whole new dimension to the bullish case for gold.  If we do see people really starting to sell paper gold on the COMEX exchange once again, readers should remember that this has done nothing to decrease demand for physical gold. 

And with physical gold being in such tight supply down at these price levels, I think any quick selloffs will be met with massive physical buying.  This will mean the recoveries in the gold price will be very sharp indeed.”

Eric King:  “John Ing was saying in his KWN interview that right now we are seeing this squeeze in gold, but he also expects the squeeze to accelerate over time.  This is related to the tightness and the shortage in the physical market.  From now on he expects the shorts to be squeezed at future option expirations.  What are your thoughts on what Ing is saying?”

Williams:  “I agree 100%.  I think that’s one of these enormous changes that’s happened over the last few months.  There is such a tight supply of physical gold that any kind of ‘gaming of the system’ you can play around options expiry is very limited now.  This is a big change in the gold market.

The reasons for this is there are plenty of people who understand the tightness in supply, and these people will buy into any weakness and stand for delivery.  This will force the shorts into sending them physical gold.  So, suddenly this little game that’s been going on around Non-Farm Payrolls and option expiries, those games are very, very difficult to play now.  You’ve got to be very nimble now if you are shorting.  If you miscalculate there is going to be hell to pay.”

Williams also added:  “There’s been a great deal of noise made in the mainstream media about the gold bear market.  But gold is now 20% off the lows, and yet you are not going to hear an awful lot of talk in the mainstream media about a new bull market in gold. 

Now that gold is through $1,400, it is important for readers to understand that we have breached that key level with a ‘bullet.’  So I think the roadmap from $1,400 to $1,500 could be very quick indeed for gold.  This situation is just going to feed on itself.  We will have setbacks along the way but as gold goes higher, the reasons it is going higher won’t matter simply because all of this physical gold has been taken out of the market.

If there are buyers of gold for any reason at all, it’s just going to exacerbate this physical tightness we are already seeing in the gold market.  This will simply serve to push the price much higher, and much faster.”

Grant Williams: West Is Now Running Out Of Physical Gold GLD, GDX, MUX, TNR.v

  

  Grant Williams was guiding us through this brutal attack on Gold market with his brilliant presentations and his observations on the real things happening now in Asia with Gold are very important.

Grant Williams: The End Game - All Physical Gold Goes Into The Strong Hands Now.

  Grant Williams is discussing the events behind the curtain, which created the fireworks in Gold and Silver this week and what to expect next."

James Dines - Gold, Silver & A New Super-Major Bull Market

James Dines talks about new Super-Major Bull Markets in the making, which are still invisible for the crowds. He praises Tesla Motors with its disruption of auto-market and 3D printing technology. We think that our ideas about Lithium will fit nicely in this trend.

  Original Gold Bug has recently reinstated his Buy Call on Gold. His observations are correlating nicely with the technical picture provided by Adam Hamilton in his latest piece"

King World News:

Singapore Source: West Is Now Running Out Of Physical Gold

Today one of the most highly respected fund managers in Singapore warned King World News that the West is finally running out of available physical gold to supply the market.  Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also spoke about the pressure being put on India, by the West, to lease their 200 tons of gold, and how this will impact the market.  Below is what Williams had to say this powerful interview.

Eric King:  “When the United States closed the gold window in 1971, gold proceeded to go up six-fold in a very short period of time.  But during the 1970s, from time-to-time there were threats from the IMF that they were going to sell some gold to stem the rise in the price.  We see all of this gold pouring out of the West, and now there is this pressure on India to lease their 200 tons of gold.  Does this have a 1970s feel to it to some degree?”

Williams:  “There are two major differences now, Eric:  The first big difference is that the sellers have been selling gold.  And when you have a finite resource, it’s not like dollar bills -- you can’t just print more.  If you keep selling, one day you are going to have sold it all and you are not going to have any more to sell.

“And as I said earlier, it feels to me like the ‘loose gold’ is out of the market.  Also, as I mentioned in our last interview, back in the 1970s Asia was a very poor continent, and so people were only buying gold at the margin, and in very small amounts.  Now, there are tremendous foreign currency reserves out here in Asia.

In the last 20 or 30 years, Asia has been a powerhouse.  So there is an enormous ability to buy physical gold out here, and this is coupled with a great desire to own gold.  That’s a very, very dangerous thing if you are trying to sell gold in order to try to keep the price down.

It’s fine when there aren’t any buyers because you can frighten people and move the price lower.  But right now I think anybody who is holding gold and is selling it for any other reason than to raise cash, because they have an immediate forced-need for liquidity, is playing a very, very dangerous game.

We have a supply of gold that only increases by about 2.5% each year.  The scrap numbers move around a bit, but they are pretty consistent.  So if you increase the amount of sales that these central banks are making, that’s going to have an effect, but only for a short period of time.  They will quickly run out of gold because of the massive demand, and I really get the sense that this is what is happening right now.”

Eric King:  “William Kaye spoke with KWN about the Western central banks concealing their secret activities in the scrap market.  What are your thoughts on this, Grant?”

Williams:  “The numbers speak for themselves.  As is always the case in the gold market, there is so much non transparency surrounding it.  It’s always very difficult to get a definitive answer to anything, especially from the players in the West.

Bill (Kaye) is a great watcher of these markets, and a very, very smart guy.  He saw the scrap numbers explode once central banks explicitly stopped selling their gold.  When you look at the scrap numbers, the evidence would certainly suggest that some of the central bank sales have been concealed as scrap.

But as Kaye said, nobody likes to talk about it -- nobody likes to be open about this.  But these are reasonably easy conclusions to make, Eric, I’ve got to say.”

Williams also added: “We’ve been sitting through four to six months of severe weakness in the gold price, and this was after a two-year correction in what, to me, still looks like a secular bull market. 

I think we have now reached a point in time where the real selling is done, and I strongly believe that for the holders of gold -- the people who really understand the gold story -- the next six months are going to be far more enjoyable to sit back and watch for these gold bulls.  The time for gold to really shine is now upon us, and that means much higher prices in the future.”