So, miscreanity, next month should show a sudden sharp rally for gold before the year's end, according to your thinking?
Yes, I'm still expecting a significant spike to the $2,000 range before year-end.
It's also becoming harder to lend any credibility whatsoever to official announcements; contradictory 'leaks' and rumors, reporting of large volume transactions in obscure locations, probably not disclosing even more. This is the same brinkmanship displayed by politicians earlier in the year, and it will run right up to the last moment.
The exchanges won't officially default, and there may be some truly sleazy tricks pulled to ensure that fact. MF Global was very likely an intentional effort to cull futures positions.
Only one day remains before clients notify the exchange of delivery requests. Gold OI
is still 3x the stated warehouse stocks and silver OI
remains at more than 2x available stocks, although preliminary numbers show the gold OI at 1.5x and silver OI almost even. Almost all of the contracts that bailed from December have rolled to February (gold) or March (silver).
Even with the PM Dec OI squeezing by, it is not in the bullion banks' best interests to simply deliver everything and leave nothing for the extreme demand during 1st quarter of 2012.
I looked into this. Very illuminating, all these people buying gold but no testing.
Conductivity only tests surface, acid only tests surface, specifc gravity can work but hard to be that accurate in small amounts.
XRay is better. Im thinking of buying one to help people test.
Hope this helps
The more testing services, the better. Plenty of scammers will flood the markets over the next several years. Another tool: ultrasonic testing
For peace of mind, it's best to skip the deals that could easily turn out to not be such great deals by going with reputable dealers. Some beginning gold investing information