Jan. 6, 2004 - Gold $422.40 - Platinum $848.00 - Silver $6.28
Desperado Time For The GOLD Shorts
Accept the challenges, so you may feel
the exhilaration of victory...
Gen. George S. Patton
GO GATA!!!!!
This is what we were looking at this morning
before The Gold Cartel went into action:
London, Jan. 6 (OsterDowJones) - Comex Feb Gold
futures were called to open $5 per troy ounce
higher Tuesday with the market pausing after
having moved to a 15-year high of $430.50 a
troy ounce in European trade as the ongoing
weakness in the U.S. currency triggered
steady investor buying interest, dealers said.
Spot Gold pushed to price levels not seen
since December 1988, with the next target
now the $440/oz level, which traded most
recently in July 1988.
Feb had settled at a contract high of $424.80/oz
Monday.
Mar silver is seen opening around 15 cents higher
in line follow Gold PM, with the weaker U.S. dollar
and ongoing indications of improving global
economic growth also helping to trigger
stop-loss buying. –END-
Excitement was in the air, which is just what
The Gold Cartel cannot tolerate.
Thus, the cabal mobilized their forces to take
Gold down $10 off its highs in a matter of hours,
making a low of $420.40 early in the Comex session.
They did so, despite strong Silver/Platinum markets,
the dollar in the tank, oil breaking through $34 per
barrel and the CRB making new highs.
Pretty sickening any way you look at it.
Gold was so firm yesterday, the cabal’s $6 rule
was violated.
From years of experience we know they have implemented
that rule to keep gold in a controlled retreat off
its bottom.
While times are changing because of the rising $420+
price (PRICE ACTION MAKES MARKET COMMENTARY), they
have done all they could to keep Gold out of the
headlines the past couple of years of bull
market trading.
The good news is The Gold Cartel keeps making the
same mistake.
Were they to let Gold get way ahead of the cash
market, the market could get too laden with specs
and the cabal could easily turn them into
profit-taking sellers, maybe even get them short.
As is, cash Gold buyers pull back from the market
on all these small rallies and wait to buy the
dips to meet their local demand.
Whenever the cabal attacks, THE STALKER and other
buyers are waiting for them. Been this way for
months.
The bottom line is there is too much competition
for the available Gold supply and the buyers have
become used to gradually rising prices.
Each time they buy the dip after small rallies,
they come out as winners.
Here is a surprise. The gold open interest fell
1368 contracts yesterday to 278,013.
The feeling from everyone was that the funds were
the big buyers. Not so.
The funds are not short and were not covering.
Some of the big commercials ran for the hills.
The volume today was HUGE!
Word sent my way this morning was a big fund buyer
yesterday was the major seller on Comex today.
Fund, my butt!
It had to be a Gold Cartel short going through a
fund, which is why the "fund" came out selling
today and why the open interest went
down yesterday.
Normally, the Gold open interest would have gone
up 5 to 10 thousand contracts on an $8.60 move.
Since the funds weren’t loading up yesterday, there
is plenty of room for more of them to join the Gold
bull party in the weeks ahead.
The open interest is 17,000 less than it was months
ago with Gold $30 or so higher.
Is it desperado time for the Gold/Silver shorts?
Silver has now left three gaps which is most unusual.
Today’s was only a penny, but a gap nevertheless and
one the shorts could not fill.
Even as Gold was pummeled, the silver shorts and silver
price managers failed to put silver down on the day.
This sort of price action could set the stage for some
serious silver fireworks very shortly.
Even since I received the input about Buffet buying,
silver has gone almost straight up.
It may not be Buffet, but some big player is buying up
the market and has completely changed the tone of the
silver trading.
Meanwhile, the silver lease rates are edging up.
The one month shot up 20 basis points to .32%, while
the six month rate gained 40 basis points to .93%.
We should monitor the silver lease rate situation
carefully in the days to come.
The increased rates may show signs of desperation on
the part of the silver shorts.
It could mean they are borrowing silver in an attempt
to slow down the silver advance.
Keep in mind, I was told the silver market was going
to be squeezed.
It is certainly trading as if it has that kind of
potential.
Unlike the gold market, the specs jumped all over silver
as the open interest jumped 3571 contracts to 105,821.
Lot more room here too.
We are still 10,000 contracts away from OI levels
reached when silver was $1 lower.
March silver
futures.tradingcharts.com/chart/SV/34
Spot Platinum closed at $848, up $8 per ounce.
The CRB rose 1.92 to 265.41.
It hasn’t seen these levels since 1988.
The dollar fell .42 to 85.93 and the euro rose .71
to 127.21.
So much for Gold trading higher when the dollar is weak.
The Gold Cartel continues to keep Gold a non-issue
in most foreign currencies.
GATA BE IN IT TO WIN IT!
The Crystal ball ~
~ Video Clip from GATA about GOLD ~
www.smartstox.com/interviews/gata.html
Eurasia Gold Corp. Mining projects
The Central Mukur and Myaly mining licences host 59 known
zones of oxide mineralization.
Six of these zones were mined during the year 2000.
The remaining zones are at various stages of exploration or
development to ensure continuity of mining operations.
The two projects have an estimated resource of 850,000 ounces
of gold with 67 zones of oxide mineralisation remain to be explored,
according to Minesite. It is Eurasia’s objective to increase its
annual gold production incrementally to 60,000 ounces.
This increase will come through increasing the production
capability of the two existing projects, and through
acquisition and development of other oxide deposits in Kazakhstan.
The Board is continuing with its chosen strategy of running
the company on an un-hedged basis.
The value today of the two Gold Mines development and
infrastructure would cost about $40 millions. Add the value
of 59 more gold deposits with feasibility studies, and nearly
30 years of exploration activities made by the Soviet will
indicate Eurasia's market cap of CDN $10.65 millions as of
December 10, 2003 to be extremely undervalue.
Highlights from Q3, 2003 earning report ( in US dollars )
- amount of gold sold was 7,443 ounces
- average production cost for the 9 months was $246.00/oz
- gold was sold at an average price of $362.89/oz
- revenue was $2,701,000
- net profit was $169,000
Potential profits based on Q3, 2003 operating costs and expenses
7,443/oz of gold sell at current spot price of $415/oz will generate
a profit of about... 415 - 362.89 = 52.11 x 7443 + 169000 = $556,854.73
7,433/oz of gold sell at $450/oz will generate roughly $817,000 in profit.
Interview with Ferdinand Lips a world-reknowned gold expert
www.smartstox.com/interviews/gata.html
The sovereignty and independence of Kazakhstan
Nine years have passed since Kazakhstan made a historic step when it
declared its sovereignty on October 25, 1990. Those years were noted
as great challenges to the people of Kazakhstan as well as triumphs.
During this happy holiday you and the people of Kazakhstan may be
proud of achievements of your country. We are ready to work with
Kazakhstan to promote prosperity, democracy and stability while we
are entering together the new millenium.
- From the message of U.S. President B.Clinton, October 1999
DD: Eurasia Gold Corp. (EGX:TSX-V)
Email: eurasia@eurasiagold.com
Website: www.eurasiagold.com
Please do your own DD before investing in any stocks!
imo, Best regards, MfG
Desperado Time For The GOLD Shorts
Accept the challenges, so you may feel
the exhilaration of victory...
Gen. George S. Patton
GO GATA!!!!!
This is what we were looking at this morning
before The Gold Cartel went into action:
London, Jan. 6 (OsterDowJones) - Comex Feb Gold
futures were called to open $5 per troy ounce
higher Tuesday with the market pausing after
having moved to a 15-year high of $430.50 a
troy ounce in European trade as the ongoing
weakness in the U.S. currency triggered
steady investor buying interest, dealers said.
Spot Gold pushed to price levels not seen
since December 1988, with the next target
now the $440/oz level, which traded most
recently in July 1988.
Feb had settled at a contract high of $424.80/oz
Monday.
Mar silver is seen opening around 15 cents higher
in line follow Gold PM, with the weaker U.S. dollar
and ongoing indications of improving global
economic growth also helping to trigger
stop-loss buying. –END-
Excitement was in the air, which is just what
The Gold Cartel cannot tolerate.
Thus, the cabal mobilized their forces to take
Gold down $10 off its highs in a matter of hours,
making a low of $420.40 early in the Comex session.
They did so, despite strong Silver/Platinum markets,
the dollar in the tank, oil breaking through $34 per
barrel and the CRB making new highs.
Pretty sickening any way you look at it.
Gold was so firm yesterday, the cabal’s $6 rule
was violated.
From years of experience we know they have implemented
that rule to keep gold in a controlled retreat off
its bottom.
While times are changing because of the rising $420+
price (PRICE ACTION MAKES MARKET COMMENTARY), they
have done all they could to keep Gold out of the
headlines the past couple of years of bull
market trading.
The good news is The Gold Cartel keeps making the
same mistake.
Were they to let Gold get way ahead of the cash
market, the market could get too laden with specs
and the cabal could easily turn them into
profit-taking sellers, maybe even get them short.
As is, cash Gold buyers pull back from the market
on all these small rallies and wait to buy the
dips to meet their local demand.
Whenever the cabal attacks, THE STALKER and other
buyers are waiting for them. Been this way for
months.
The bottom line is there is too much competition
for the available Gold supply and the buyers have
become used to gradually rising prices.
Each time they buy the dip after small rallies,
they come out as winners.
Here is a surprise. The gold open interest fell
1368 contracts yesterday to 278,013.
The feeling from everyone was that the funds were
the big buyers. Not so.
The funds are not short and were not covering.
Some of the big commercials ran for the hills.
The volume today was HUGE!
Word sent my way this morning was a big fund buyer
yesterday was the major seller on Comex today.
Fund, my butt!
It had to be a Gold Cartel short going through a
fund, which is why the "fund" came out selling
today and why the open interest went
down yesterday.
Normally, the Gold open interest would have gone
up 5 to 10 thousand contracts on an $8.60 move.
Since the funds weren’t loading up yesterday, there
is plenty of room for more of them to join the Gold
bull party in the weeks ahead.
The open interest is 17,000 less than it was months
ago with Gold $30 or so higher.
Is it desperado time for the Gold/Silver shorts?
Silver has now left three gaps which is most unusual.
Today’s was only a penny, but a gap nevertheless and
one the shorts could not fill.
Even as Gold was pummeled, the silver shorts and silver
price managers failed to put silver down on the day.
This sort of price action could set the stage for some
serious silver fireworks very shortly.
Even since I received the input about Buffet buying,
silver has gone almost straight up.
It may not be Buffet, but some big player is buying up
the market and has completely changed the tone of the
silver trading.
Meanwhile, the silver lease rates are edging up.
The one month shot up 20 basis points to .32%, while
the six month rate gained 40 basis points to .93%.
We should monitor the silver lease rate situation
carefully in the days to come.
The increased rates may show signs of desperation on
the part of the silver shorts.
It could mean they are borrowing silver in an attempt
to slow down the silver advance.
Keep in mind, I was told the silver market was going
to be squeezed.
It is certainly trading as if it has that kind of
potential.
Unlike the gold market, the specs jumped all over silver
as the open interest jumped 3571 contracts to 105,821.
Lot more room here too.
We are still 10,000 contracts away from OI levels
reached when silver was $1 lower.
March silver
futures.tradingcharts.com/chart/SV/34
Spot Platinum closed at $848, up $8 per ounce.
The CRB rose 1.92 to 265.41.
It hasn’t seen these levels since 1988.
The dollar fell .42 to 85.93 and the euro rose .71
to 127.21.
So much for Gold trading higher when the dollar is weak.
The Gold Cartel continues to keep Gold a non-issue
in most foreign currencies.
GATA BE IN IT TO WIN IT!
The Crystal ball ~
~ Video Clip from GATA about GOLD ~
www.smartstox.com/interviews/gata.html
Eurasia Gold Corp. Mining projects
The Central Mukur and Myaly mining licences host 59 known
zones of oxide mineralization.
Six of these zones were mined during the year 2000.
The remaining zones are at various stages of exploration or
development to ensure continuity of mining operations.
The two projects have an estimated resource of 850,000 ounces
of gold with 67 zones of oxide mineralisation remain to be explored,
according to Minesite. It is Eurasia’s objective to increase its
annual gold production incrementally to 60,000 ounces.
This increase will come through increasing the production
capability of the two existing projects, and through
acquisition and development of other oxide deposits in Kazakhstan.
The Board is continuing with its chosen strategy of running
the company on an un-hedged basis.
The value today of the two Gold Mines development and
infrastructure would cost about $40 millions. Add the value
of 59 more gold deposits with feasibility studies, and nearly
30 years of exploration activities made by the Soviet will
indicate Eurasia's market cap of CDN $10.65 millions as of
December 10, 2003 to be extremely undervalue.
Highlights from Q3, 2003 earning report ( in US dollars )
- amount of gold sold was 7,443 ounces
- average production cost for the 9 months was $246.00/oz
- gold was sold at an average price of $362.89/oz
- revenue was $2,701,000
- net profit was $169,000
Potential profits based on Q3, 2003 operating costs and expenses
7,443/oz of gold sell at current spot price of $415/oz will generate
a profit of about... 415 - 362.89 = 52.11 x 7443 + 169000 = $556,854.73
7,433/oz of gold sell at $450/oz will generate roughly $817,000 in profit.
Interview with Ferdinand Lips a world-reknowned gold expert
www.smartstox.com/interviews/gata.html
The sovereignty and independence of Kazakhstan
Nine years have passed since Kazakhstan made a historic step when it
declared its sovereignty on October 25, 1990. Those years were noted
as great challenges to the people of Kazakhstan as well as triumphs.
During this happy holiday you and the people of Kazakhstan may be
proud of achievements of your country. We are ready to work with
Kazakhstan to promote prosperity, democracy and stability while we
are entering together the new millenium.
- From the message of U.S. President B.Clinton, October 1999
DD: Eurasia Gold Corp. (EGX:TSX-V)
Email: eurasia@eurasiagold.com
Website: www.eurasiagold.com
Please do your own DD before investing in any stocks!
imo, Best regards, MfG
