How Soon Will COMEX Gold Dealer Inventories Be Exhausted?
Numismaster
Commodity researcher Adrian Douglas published a report last week in which he projects that the COMEX gold dealer inventories will be exhausted before the end of 2010 if the rates of depletion for the past six months continue. The COMEX publishes daily statistics on trading activity and deposits and withdrawals of COMEX gold inventories, both registered and eligible, but does not provide a database to analyze such data over time. To overcome this lack of information, Douglas created his own database last summer. He tracked changes in both registered and eligible inventory categories.
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How to Know When to Buy More Gold
Lew Rockwell
In a recent conversation with a fellow gold analyst, he was emphatic that the price one pays for physical gold should be ignored. “What’s far more important,” he insisted, “is how many ounces I own in relation to the total value of my assets.” Building a core position in gold bullion is a smart goal, to be sure, and a strategy Casey Research has been advising for years. However, ignoring the price you pay for gold could be seen as foolhardy; sure, it’s insurance, but isn’t price part of the consideration when you shop for insurance? So, who’s right?
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Silver Supply Crisis Looms, Part 2
TheStreet
In an energy-starved world, it is already a “given” that the entire world will have to dramatically increase the percentage of power from such clean-and-”green” power sources. With “peak oil” an obvious reality, and thus oil prices certain to increase to multiples of the current price, even a sharp rise in the price of silver would not reduce the demand for this power source, and there is no substitute for silver — as peak efficiency of these solar power units must be achieved for solar energy to be a viable energy source (in any kind of large-scale applications).
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Idaho Bill Proposes Gold and Silver As an Alternate Legal Tender
The Spokesman-Review
Today, the committee voted along party lines, 4-3, to introduce legislation from Rep. Lenore Barrett, R-Challis, to make electronic transactions in gold and silver an alternative form of legal tender for paying bills or taxes in Idaho. “When we left the gold standard, we did not do a really good thing,” Barrett declared. She suggested her bill, if enacted, would attract businesses to the state who want to “come to Idaho and do a free-market business with gold and silver backing.”
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South Africa’s Gold Fields to Produce More Gold Outside of Home Country
Mining Weekly
South Africa’s Gold Fields is aiming to produce some 60% of its gold from mines outside its home country within five years from now, CEO Nick Holland said on Tuesday. But he added that South Africa will remain an important platform and base for the Johannesburg based firm. “We believe in not having all of our eggs in the one basket,” Holland said at the BMO Capital Markets Global Metals and Mining conference, under way this week in Florida. South Africa currently accounts for about 58% of Gold Fields’ total production, compared with as much as 65% two years ago.
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Riding the Gold Bubble
Kitco
Our podcast listeners might remember a few months ago when I bet our Research Editor a steak dinner that gold would top $1,250/oz before it would sink back below $1,000/oz. For awhile there, things weren’t looking too good for me or my appetite, as gold plunged off its December highs like a diver in free-fall; the metal scraped as low as $1052/oz early last month. But as gold closed above $1,117/oz on Friday, I’m happy to say that I might just get my dead cow after all.
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