tag:blogger.com,1999:blog-502356674750161309.post5906913779233632964..comments2008-12-01T13:06:35.145-08:00Eric deCarbonnelhttp://www.blogger.com/profile/08023745289801416061noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-502356674750161309.post-67148926926360074572008-12-01T13:06:00.000-08:002008-12-01T13:06:00.000-08:00It occurs to me that there are a couple reasons paper gold might go down:<BR/><BR/>1) People value the commodity less<BR/><BR/>2) People don't believe that their contract will actually yield them an ounce of gold.cxx_guyhttp://www.blogger.com/profile/12394415060461643626noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-25793349079336660292008-12-01T12:50:00.000-08:002008-12-01T12:50:00.000-08:00Where is Banc of America getting all that gold they have to deliver?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-88281609442353012812008-12-01T11:08:00.000-08:002008-12-01T11:08:00.000-08:002566 deliveries today?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-60275753307123207402008-12-01T11:04:00.000-08:002008-12-01T11:04:00.000-08:00any more history on the delivery that have occured over time? I assume that deliverires have increased greatly...but does anyone have the data to show it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-52671169043993948272008-12-01T09:18:00.000-08:002008-12-01T09:18:00.000-08:00There is a lot of good information especially Jim Sinclair's site. In simple terms the financial world is in trouble but they do not want you to know it. So if gold were to rally too much people and therefore markets would panic. Solution: keep gold price down at all costs. Also I do not believe that all the paper gold is actually backed up by physical gold. Several mints in the world are currently not taking orders for certain gold products, i.e. coins in USA and Australia. I suspect that a change will come where currency is tied to gold or at least partially so. One of the major physical gold holders is not the US Treasury but the Federal Reserve ... so draw your conclusions. My bet is on gold ... but hey some people out there are still buying houses, go figure !Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-4031733270019319432008-12-01T08:39:00.000-08:002008-12-01T08:39:00.000-08:00There you go. Nobody seems to care about this COMEX situation. Can you make ANY predictions in this kind of environment?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-7732745843437272642008-12-01T07:08:00.000-08:002008-12-01T07:08:00.000-08:00Hmm I'm not really understanding something. This report states there is a lot of short covering and therefore demand for gold. Why then is gold price down today?Jean-Philippehttp://www.blogger.com/profile/01344658930348328968noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-54143802812063250042008-12-01T06:41:00.000-08:002008-12-01T06:41:00.000-08:00I was wondering why gold was down $30 this a.m. Now I know the answer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-77008210717570531162008-12-01T00:02:00.000-08:002008-12-01T00:02:00.000-08:00To answer your questions Dave...<BR/><BR/><BR/>No one really knows what is going to happen with all these delivery request. The COMEX is secretive exchange that doesn't provide much information to work with. The only certainty is that, no matter how they are resolved, it will be bullish for gold.<BR/><BR/><BR/>As for the procedure for taking Physical Delivery of gold from the COMEX, these are the steps:<BR/><BR/>1. Client buys the futures contract.<BR/><BR/>2. Client will take delivery between First Notice Day and the Last Trading Day.<BR/><BR/>3. On delivery day account is debited cost plus a $50.00 delivery fee.<BR/><BR/>4. We will provide the customer with name and phone number of the individual at the depository to contact.<BR/><BR/>5. Customer makes arrangements for the physical delivery<BR/><BR/><BR/>"Do you accept the GATA theory that banks shorting gold have driven the price down, causing this misalignment?"<BR/><BR/>It is a proven fact that central banks have interfered with gold prices before, so I see no reason why they wouldn't do it again.<BR/><BR/>"Couldn't the COMEX price rise, crushing the shorts, and then carry on as before, without the end of the world ?"<BR/><BR/>Not if investors start taking gold out of the COMEX's vaults. Without an underlying physical supply, the COMEX gold futures market has no credibility.Eric deCarbonnelhttp://www.blogger.com/profile/08023745289801416061noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-22609209775642481112008-11-30T00:34:00.000-08:002008-11-30T00:34:00.000-08:00It seems some gold is taken from COMEX. But who are the recipients? Maybe that gold withdrawn today will be placed to COMEX again.stibotnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-65754131833632364232008-11-29T20:24:00.000-08:002008-11-29T20:24:00.000-08:00I'm not sure of the interpretation of registered vs eligible ounces. I would think the "registered" ounces are already spoken for, soon to leave the building. The "eligible" ounces seem to me to be the available stock pile to draw from. Once a long demands delivery, this adds to the "registered" pile, and the metal has to come from somewhere (perhaps the eligible pile). This is just my interpretation, I'm not an expert.dashxdrhttp://www.blogger.com/profile/08121693325605778606noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-71139608005294182012008-11-29T19:08:00.000-08:002008-11-29T19:08:00.000-08:00So many questions.<BR/><BR/>When delivery day arrives and no gold is delivered, then what happens ?<BR/><BR/>a) The DEL counterparty defaults and the ACC party sues for the difference between the COMEX price and the eBay price ?<BR/><BR/>b) the day before default, the DEL party is forced to scramble to buy physical gold on their credit card no matter what the cost ?<BR/><BR/>c) COMEX declares "force majeure" and closes ?<BR/><BR/>d) ?<BR/><BR/>Do you accept the GATA theory that banks shorting gold have driven the price down, causing this misalignment ?<BR/><BR/>Couldn't the COMEX price rise, crushing the shorts, and then carry on as before, without the end of the world ?davenoreply@blogger.com