Wednesday, January 15, 2014

Noontime news

So I have a dentist's appointment for Friday, so that might be the last you ever hear from me. Gotta finally get out a broken tooth.

Here's some news:

Bespoke - Empire manufacturing stronger than expected. Yet gold is unchanged. Then again, the regional manufacturing surveys have been pretty useless for years.

FT Alphaville - the Chinese shadow war over Chinese shadow banking. I'll bet money that the Chinese leadership wins this war. But it explains the rate strangulation. - gold rally fizzles as ETF selling continues. Quote:
Holdings of the world’s largest gold ETF – SPDR Gold Shares (NYSEARCA:GLD) – dropped more than 3 tonnes on Tuesday
Yes, and it was sold at 11:30 to push gold back below $1250 because OpEx. - Colossus tries to stay afloat with creditor protection. I wonder if Ana Komnenic is trying to be funny here by saying "afloat", considering one of their big problems is dewatering? Anyway, since IKN is incommunicado while he interfaces with his communist handlers in Venezuela, I'll take care of the snark on his behalf, viz:
In an interview with the Gold Report last month, James West of The Midas Letter called the Serra Pelada mine "one of the highest-grade platinum/palladium/gold deposits ever discovered."

"Even if gold went down to $800/oz, this is a project that would still be very economically viable," West said.
Well, if it is economically viable, it's not exactly translating into a win for shareholders, is it?

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