Metals’ plunge is just paper illusion, not real metal, von Greyerz says
December 30, 2011 by goldguru · Leave a Comment
GATA
1:37p ET Thursday, December 29, 2011
Dear Friend of GATA and Gold:
Interviewed today by King World News, fund manager Egon von Greyerz today affects calm in the face of the plunge in gold and silver prices, asserting that the plunge is just a manipulation of a thin paper market and that little real metal is being sold. Von Greyerz predicts a spectacular new year for the metals. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/29_V…
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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US Mint Sales: 2010 Silver Sets Surge, 2011 Sets Slow
December 30, 2011 by goldguru · Leave a Comment
Sales were higher in the latest United States Mint sales report for 2010-dated silver sets that remain available, while all but one 2011-dated silver product slowed. As for the commemorative coins that expired mid-month, no update was listed. Last week’s published figures, still shown in the tables below, would appear to close their sales chapter [...]
Related posts:
- US Mint Sales: Bullion Eagles Rise 100K, Silver Sets Slow
- US Mint 2010 Silvers Eagle Coins Slow in September, 2010 Sales Near 26M
- US Mint Sales: 2011 Silver Eagle Coins Surge
China iron-ore prices set for 20% decline in 2011
December 30, 2011 by goldguru · Leave a Comment
Iron ore prices in China, the world’s biggest market, are headed for a 20 percent decline this year because of a government-mandated credit crunch as well as uncertainties about steel demand at home and overseas, and few analysts see them recovering soon.
Rising interest and reserve requirement rates over the year made it difficult for traders and steel mills to find the funds required to make large purchases.
Read more….
Freeport Indonesia workers to return to mine on Monday – union
December 30, 2011 by goldguru · Leave a Comment
Workers at Freeport McMoran Copper & Gold Inc’s Indonesia unit will return to the Grasberg mine on Monday at the end of a three-month strike after making a deal with a local contractor, a senior union official said on Friday.
Contractor PT Kuala Pelabuhan Indonesia (KPI) has agreed to rehire about 700 workers who went on strike with no sanctions, union spokesman Virgo Solossa said.
Read more….
Gabriel says still talking to Romania regarding gold royalty rates
December 30, 2011 by goldguru · Leave a Comment
Gabriel Resources said on Thursday it was still working with the government to potentially alter the its ownership and royalty rate at the Rosia Montana gold and silver project in Romania.
The eastern European country earlier this week said it would double precious metals royalties to 8%.
Read more….
Miners push SA stocks below 2011 breakeven
December 30, 2011 by goldguru · Leave a Comment
South African stocks fell further away from their breakeven level for 2011, edging down 0.4 percent on Thursday as miners such as Impala Platinum were hit by a sell-off in precious metals.
Trade was thin on the last full session of the year, with market players predicting a lacklustre start to 2012 due to nagging concerns about the euro zone debt crisis and slack global growth.
Read more….
Gold ends 2011 11% higher
December 30, 2011 by goldguru · Leave a Comment
While global stocks fell 8% over the year, gold fixed in London for the last time this year at $1,574.50, 11, up 11.6% on 2010
Year end gold and silver price slump overdone?
December 30, 2011 by goldguru · Leave a Comment
Small volume sales can move markets dramatically in thin trading periods and perhaps the post-Christmas week’s fall in gold and silver has been overdone.
Read more….
Gold Anomaly sees growing gold system in PNG Highlands
December 30, 2011 by goldguru · Leave a Comment
The Papua New Guinea and Brazilian gold explorer said Friday it has potential for “multiple major mineralisation events” at its Crater Mountain prospect
Read more….
Union says Freeport Indonesia workers to return on Monday
December 30, 2011 by goldguru · Leave a Comment
After a three month strike, workers at Freeport’s Grasberg mine in Indonesia will return to work on Monday, a senior union official said on Friday
Read more….
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