Monday, July 6, 2015

A few more newsbits

Some more news, now with less grease:

FT Alphaville - ha ha gold sucks. Izzy Kamizzy decides to weigh in on the old canard that the gold price has something to do with a) fear or b) interest rates. Instead of... y'know... India and China physical demand. - hedge funds have NEVARRR been this bearish. NEVARRRR.

Poith Mint - actual gold COMEX data. Quote:
I would note that the decline in registered gold stocks and delivery rates occurred soon after gold’s dramatic crash through $1550 and into the 1300s, and the stocks and rates have stayed low since then during the subsequent weak/sideways gold price phase we are currently in. A reflection of lacklustre western investor interest in gold? However, I note that eligible inventories have increased from 6 million ounces at the time of that price drop to 8.5 million ounces today, and such accumulation has usually been considered an indicator of positive western investor sentiment to gold.

I don’t have an answer at this stage as I hadn’t noticed this discrepancy until delving into the figures for this post but it is another sign of the exceptional state of the current gold and silver markets, which in my opinion hasn’t been this pessimistic since 1999 when gold was pushing $250. If ever there was a contrarian trade....
Well let's sure hope so!

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