1. Iranian International PM Exhibition
". . . the Eighth International Gold, Silver, Jewelry, Watch and Related Industries Exhibition will be held from February 16-19."
". . . companies from Italy, China, Turkey and Britain will take part in the upcoming exhibition."
Source: http://www.irna.ir/en/News/81953697/?
2. Gold marching to $1200 per ounce!
". . . the suggested technical setup for Gold to make the run from 1076 (back on Christmas Eve) up across 1200 is happening, . . ."
". . . that upswing for Gold is clearly welcome, (obviously well overdue), and gives some foundation to our year's target being the upper 1200s, ideally above 1280 which is the upper band of the 1240-1280 resistance zone. . . marking this past week as the strongest percentage five-day up move since that ending 28 October 2011 -- over four years ago -- on which date Gold settled at 1743, (a level that we'll inevitably again see):"
". . . we place a 'value' on Gold in two ways, the FIRST being borne of common sense as portrayed by currency debasement . . . The SECOND is the reality that Gold, being one of our five primary BEGOS markets, behaves relative to how the other four components (Bond, Euro, Oil, S&P) are flexing. Indeed all five of the markets are constantly reacting to how each of the others are doing, for example the S&P moves subject to the cost of debt, the cost of currency, the cost of hard asset protection and the cost of energy, (all of which redound to companies' bottom lines, and ultimately your managed dough). . . . price right now is at an extreme high, . . . . The last time Gold was this high (113 points) above the smooth line was on 27 January of 2015, from which price dropped by over 100 points in the ensuing five weeks. But this time 'round, the momentum of Gold already closing in on 1200 is such that we sense a near-term pullback ought be more muted:"
"Further, 'tis helpful for Gold when Big Players are on the Buy Side. In the last few weeks we've read of Russia and China respectively adding better than 20 tonnes to both of their stacks. . . . we learned just a week ago of die Deutsche Bundesbank continuing its repatriation promise, last year transferring to Frankfurt 110 tonnes of Gold from Paris, plus better than 90 tonnes from beneath New York's Federal Reserve building."
". . . Fed Vice Chair Stanley Fischer stated 'The world is an uncertain place, and all monetary policymakers can really be sure of is that what will happen is often different from what we currently expect.' "
". . . Haruhiko Kuroda says they stand ready to move rates still further sub-zero, whilst over at the European Central Bank, President Mario Draghi says they shan't 'surrender' in combating low levels of inflation, the case for more accommodation coming in March. . . ."
"The level of Federal StateSide debt has just topped $19,000,000,000,000, . . . We carefully calculated the effect on the price of Gold were all that debt to come due at once, but after going through an entire box of pencils, . . . we gave up."
Source: http://www.gold-eagle.com/article/golds-swift-price-ascent-already-closing-1200?
3. Jason Burack of Wall St for Main St
Topics he discussed:
a. NIRP coming to US
"Some members at the Federal Reserve talking about copying Japan and experimenting with negative interest rates."
b. Source of NIRP idea
"Where do negative interest rates come from? (Hint: They come from Marx’s labor theory of value and Marx’s and Keynes’ views of a '.savings glut' in an economy)."
c. The banking sector
"Bank Stocks Look to Be Collapsing and predicting an imminent stock market crash and large global financial crisis."
d. Liquidation of sovereign wealth funds
"Many sovereign wealth funds are selling their stock positions to go to cash to pay off debt in their home countries."
Sources:
http://thenewsdoctors.com/fear-the-bust-bank-carnage-precious-metals-bull-returns-welcome-to-dystopia-15/
https://www.youtube.com/watch?v=s0CGSPIMVFg
4. From Peak Prosperity as of 5 February 2016
"It appeared that nobody wanted to be short gold going into the weekend. Since the dollar rallied strongly too, gold's big move higher on Friday was especially impressive."
"This week after two days of hesitation at the 200 MA, gold broke sharply above the 200 and rocketed higher for the next three days, with the heavy volume in tandem with last week's COT report indicating that the shorts are being steadily squeezed out of the market."
"Gold is approaching its previous high at 1191.70 - at the current $20/day rate of climb, gold will be testing this level Monday. Now I don't really believe we'll have another $20 day come Monday; its hard to know just how many shorts remain after the last three days of price action, but this is why I have been saying that 'the COT report shows a bullish stance for gold.'"
"All that said: gold is now extremely overbought: RSI-7 is 88, which is a very high reading, and usually suggests a top is coming soon. Now is a high risk time to buy gold. Price at COMEX could keep rising, but corrections off these sorts of near-vertical moves can be vicious."
"After consolidating above the 50 MA, the miners screamed hgher this week - GDX rose an incredible 18% in three days, blasting through the 200 MA and causing the shorts to flee in terror. GDX showed strong buying towards the end of day on Friday, just like with gold. The GDX:$GOLD ratio is back - way back in bullish territory. Volume in the last three days was immense. . . . I really can't say if there are shorts left or not. But they certainly have had a terrible last three days."
"On the weekly chart, GDX has clearly snapped its downtrend line, and has managed to close (just barely) above the middle spike in the 'double bottom' reversal pattern - thus confirming the bullish double bottom by a slim margin. Its an amazing move for one week; I do not think we should expect a repeat performance next week, but the miners have definitely broken their medium term downtrend by this week's price action. A double-bottom is a strong reversal signal. Long term, the miners remain quite cheap - although buying this high is probably not the wisest move as a short-term retracement off this near-vertical move could be substantial."
"Miners leading the metal is what we like to see in a bull move for gold, and that's what we are seeing now. Much of PM is now over the 200 MA. Next step is a 'golden cross' - but that is likely months in the future."
"In spite of - and also because of - the large moves in the miners and gold, I believe a reversal is probably in the cards for the near term. . . . It is more likely that this is about a normal "gold cycle" of the sort encouraged and shaped by the commercials. We can't know this for sure until we get the COT report next week, . . . When RSI values get into the high 80s, its time to be careful, not reckless."
"The market could surprise me and break above that previous high at 1191.70. You just never know."
Source: http://www.peakprosperity.com/comment/191371#comment-191371
5. Gold Exchange in India?
"In line with the Shanghai bourse, the proposal envisages gold-importing agencies to sell gold only on the exchange's platform, bringing transparency in pricing and premiums, and leading to a formal mechanism to measure the flow of imports into the country."
Source: http://www.business-standard.com/article/markets/clarity-likely-soon-in-bullion-market-116020800026_1.html
4. From Peak Prosperity as of 5 February 2016
"It appeared that nobody wanted to be short gold going into the weekend. Since the dollar rallied strongly too, gold's big move higher on Friday was especially impressive."
"This week after two days of hesitation at the 200 MA, gold broke sharply above the 200 and rocketed higher for the next three days, with the heavy volume in tandem with last week's COT report indicating that the shorts are being steadily squeezed out of the market."
"Gold is approaching its previous high at 1191.70 - at the current $20/day rate of climb, gold will be testing this level Monday. Now I don't really believe we'll have another $20 day come Monday; its hard to know just how many shorts remain after the last three days of price action, but this is why I have been saying that 'the COT report shows a bullish stance for gold.'"
"All that said: gold is now extremely overbought: RSI-7 is 88, which is a very high reading, and usually suggests a top is coming soon. Now is a high risk time to buy gold. Price at COMEX could keep rising, but corrections off these sorts of near-vertical moves can be vicious."
"After consolidating above the 50 MA, the miners screamed hgher this week - GDX rose an incredible 18% in three days, blasting through the 200 MA and causing the shorts to flee in terror. GDX showed strong buying towards the end of day on Friday, just like with gold. The GDX:$GOLD ratio is back - way back in bullish territory. Volume in the last three days was immense. . . . I really can't say if there are shorts left or not. But they certainly have had a terrible last three days."
"On the weekly chart, GDX has clearly snapped its downtrend line, and has managed to close (just barely) above the middle spike in the 'double bottom' reversal pattern - thus confirming the bullish double bottom by a slim margin. Its an amazing move for one week; I do not think we should expect a repeat performance next week, but the miners have definitely broken their medium term downtrend by this week's price action. A double-bottom is a strong reversal signal. Long term, the miners remain quite cheap - although buying this high is probably not the wisest move as a short-term retracement off this near-vertical move could be substantial."
"Miners leading the metal is what we like to see in a bull move for gold, and that's what we are seeing now. Much of PM is now over the 200 MA. Next step is a 'golden cross' - but that is likely months in the future."
"In spite of - and also because of - the large moves in the miners and gold, I believe a reversal is probably in the cards for the near term. . . . It is more likely that this is about a normal "gold cycle" of the sort encouraged and shaped by the commercials. We can't know this for sure until we get the COT report next week, . . . When RSI values get into the high 80s, its time to be careful, not reckless."
"The market could surprise me and break above that previous high at 1191.70. You just never know."
Source: http://www.peakprosperity.com/comment/191371#comment-191371
5. Gold Exchange in India?
"In line with the Shanghai bourse, the proposal envisages gold-importing agencies to sell gold only on the exchange's platform, bringing transparency in pricing and premiums, and leading to a formal mechanism to measure the flow of imports into the country."
Source: http://www.business-standard.com/article/markets/clarity-likely-soon-in-bullion-market-116020800026_1.html
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