Gold Bottom Is In! India Now In A Gold Buying FRENZY!

[Large Sarge]

spreading around the globe, japan, china, and Australia in a frenzy for gold

http://www.zerohedge.com/news/2013-0...amble-physical

[mamboni]

spreading around the globe, japan, china, and Australia in a frenzy for gold

http://www.zerohedge.com/news/2013-0...amble-physical

My goodness, this is deja vu all over again! LOL

[Large Sarge]

My goodness, this is deja vu all over again! LOL

LOL

sorry,

went to the end of the thread....

my humble apologies

[mamboni]

US Mint Sells Record 63,500 Ounces Of Gold In One Day


http://www.zerohedge.com/sites/defau.../picture-5.jpg
Submitted by Tyler Durden on 04/17/2013 21:23 -0400

• High Frequency Trading
• High Frequency Trading
• New Normal
• Warren Buffett

One of the more curious revelations of the New Normal is the fundamental dichotomy when investing between paper "investors", or those who chase returns based on intangible, fiat-based and central bank-backed promises, such as capital appreciation or cash flow streams, and those who would rather convert their paper money into hard assets, even if said assets can not be, in the immortal words of Warren Buffett, fondled, or otherwise generate a cash-based return. Such as gold.


Today provides perhaps the perfect example of how the former increasingly trade on nothing but momentum and speculative mania (such as the previously reported record inflow of foreign capital into the Japanese stock market well after the bulk of the easy upside has already been made and at this point there is mostly downside) and where buying begets only more buying, while rampant selling only leads to liquidations, while those who invest in hard assets (and thus have little to no leverage) have become the true value investors, purchasing more as the price of the underlying asset drops. Yes, a novel concept to most High Frequency Trading vacuum tubes, and the momentum-chasing, equity trading "expert" du jour, but nothing new to Indians, Australians, Chinese or the Japanese.
And apparently to at least some Americans.


According to today's data from the US Mint, a record 63,500 ounces, or a whopping 2 tons, of gold were reported sold on April 17th alone, bringing the total sales for the month to a whopping 147,000 ounces or more than the previous two months combined with just half of the month gone.


Punchline number one, as the chart below shows, is that the more the price of gold fell, the more aggressive the purchases of physical gold through the Mint became, rising to 96,500 oz in the last two days alone. Buying more of something you want when the price drops: what a stunning concept - explain that to the algos who nearly crashed the German stock market overnight.


Punchline number two, of course, is that the US mint charges a hefty premium for purchases: much more so than traditional vendors like Apmex or Gainesville Coins, and is usually the last resort for when nobody else has any physical at a lower premium to spot (or any metal in inventory).


http://www.zerohedge.com/sites/defau...d%20Mint_0.jpg


So how long until the US mint "runs out" of American Eagles and Buffaloes in inventory, along with the depletion of all other precious metal vendors? And what happens if the price of paper gold hits zero (or goes negative) courtesy of bank and financial institution liquidation selling of paper derivative contracts nebulously referencing some yellow metal somewhere, even as suddenly there is no physical to be delivered to anyone, anywhere?
Inquiring minds really want to know.

[mamboni]

Gold rush in Turkey


http://www.hurriyetdailynews.com/price-slump-sparks-rush-to-gold.aspx?pa...

In another link the Turkish mint said "we have never seen such a high demand in our history, even though we work in two shifts we cannot catch up the demand, we sold 40 tons of minted coins last year but this year just in 4 months we have reached total of 37.5 tons.".


http://finans.gazetevatan.com/portal/ISE/getDetailsStory.html?storyId=20...

[mamboni]

Chinese Gold Exchange Sold Out - Begins Importing From Switzerland

Submitted by Tyler Durden on 04/19/2013 - 14:02
http://www.zerohedge.com/sites/defau...ld-coins_0.jpgHong Kong’s Chinese Gold & Silver Exchange Society has been in operations for over a century, and it’s President Haywood Cheung was interviewed by Bloomberg news earlier today. Whoever orchestrated the attack on gold and silver in the last week or so has gravely miscalculated, since the response to the drop has been surging demand for physical gold and silver. While I tend to be skeptical when I hear about silver shortages since these reports have been so exaggerated in the past, the lack of silver coin availability and premiums are the most extreme I have seen since the financial and economic meltdown of 2008. Now we discover that the Chinese Gold & Silver Exchange Society has essentially sold out of gold bullion, and must wait until Wednesday for shipments to arrive from Switzerland and London.


http://www.zerohedge.com/news/2013-0...ng-switzerland



The thesis of the gold bull analysts like Sinclair, Turk, Willie and others is that the LBMA and western bullion banks have been practicing fractional reserve banking, have leased private gold accounts into the market secretly (and illegally) and have rehypothecated their gold bullion multiple times over. Perhaps with this explosion in gold bullion purchases we will find out if this true. Because if they're right, then LBMA is going to run out of gold for delivery to foreigners.

[ximmy]

frenzies, riots, melees, scrambles ...yawn

[gunDriller]

i wonder what percentage of the Indian population 'stacks'. sounds like it might be more than in the US.

they stack in the form of jewelry, but stacking is stacking.


the rate things are going, maybe someday Americans will 'man' call centers for Indian consumers. they seem to have more common sense about money.

[mamboni]

i wonder what percentage of the Indian population 'stacks'. sounds like it might be more than in the US.

they stack in the form of jewelry, but stacking is stacking.


the rate things are going, maybe someday Americans will 'man' call centers for Indian consumers. they seem to have more common sense about money.

It's a class-dependent phenomenon. The middle class can afford to buy gold for a wedding - it's obligatory. The middle class is small compared to the west. But India is growing wealthier every year and the middle class will only grow in size and means. Considering it's population is four times the USA, this is incredibly bullish for gold.

[mick silver]

when gold went below 1400 bucks and oz i pick up two bars of gold . i also got a few rounds of silver for 50cents over the oz price