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

[Neuro]

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...

Hmmm, yes that is about 4 times the amount that Europe forced Cyprus to sell. Which my mother claimed was the reason for the recent price drop (she is dis informed by Swedish MSM) My regular shop I went to this morning were practically sold out, never seen so little on the shelf before, here, and that includes the price drops of 2008... People do understand a discount sale here...

[osoab]

Hmmm, yes that is about 4 times the amount that Europe forced Cyprus to sell. Which my mother claimed was the reason for the recent price drop (she is dis informed by Swedish MSM) My regular shop I went to this morning were practically sold out, never seen so little on the shelf before, here, and that includes the price drops of 2008... People do understand a discount sale here...

I thought Cyprus still had to "vote" on the selling of the gold.

[Neuro]

I thought Cyprus still had to "vote" on the selling of the gold.

That may be, I am not totally involved and informed in the intricacies of the Cyprus affair... Ten tons is really nothing, but it's been touted as the reason for the drop in gold price to the Sheeple...

[mamboni]

per Andy Xie


Gold Has Bottomed…

The recent crash has cleansed the gold market of speculative liquidity. The demand for gold is mainly from emerging economies that face chronically high inflation. The recent growth deceleration pushes these economies into stagflation. Their demand for gold is likely to be persistent.

At the beginning of the year, I was positive on gold for the second half of 2013. I was expecting a rising dollar and strong stock market to dampen gold demand. As a weak global economy eventually cools stock markets, gold will come back.

Now I believe that gold has bottomed. Speculative money in gold has left. Inflation and slowing growth are favorable for gold. Stock markets are likely to struggle for the next few months. The dollar's rise is pausing for now. It seems that the headwinds for gold are removed and the tailwinds are getting stronger. Gold should perform quite well for remainder of the year. Even a new high is possible.

Retail investors must be vigilant on market manipulation. Physical gold demand is mainly from emerging economies like China, India and Middle Eastern countries. The gold financial markets are in New York and London. The financial players can make money from emerging market retail investors by creating artificial cycles, creating euphoria and panics. Gold buyers should not buy after a price surge. Now is a good buying opportunity.

http://english.caixin.com/2013-04-19/100516606_1.html

[gunDriller]

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.

from CIA world book -

"$4.784 trillion (2012 est.)
country comparison to the world: 4
$4.492 trillion (2011 est.)
$4.205 trillion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate):
Field info displayed for all countries in alpha order.
$1.947 trillion (2012 est.)
GDP - real growth rate:
Field info displayed for all countries in alpha order.
6.5% (2012 est.)
country comparison to the world: 34
6.8% (2011 est.)
10.1% (2010 est.)
GDP - per capita (PPP):
Field info displayed for all countries in alpha order.
$3,900 (2012 est.)
country comparison to the world: 166
$3,700 (2011 est.)
$3,500 (2010 est.)
note: data are in 2012 US dollars "
https://www.cia.gov/library/publicat...k/geos/in.html


i get the impression that Indians spend a much larger percentage of their money on physical Gold than do Americans.

in the long run, i think that will serve them well.

[Serpo]

Today Jim Sinclair sent King World News one of the most extraordinary and powerful pieces he has ever written in his 50 years in the financial business. Below is what Sinclair, who was once called on by former Fed Chairman Paul Volcker to assist during a Wall Street crisis and whose father was business partners with legendary trader Jesse Livermore, had to say in this remarkable piece.



</frame>


Sinclair: “Gold is freeing itself as an emancipation process from the gold banks control via paper gold that has no gold whatsoever involved in it. The thralldom of the gold price ends when the Evil Kings of Gold, the Gold Banks, are clearly proven to have no gold clothes on.



The emancipation of gold from paper is now in progress as physical demand increases unperturbed, and rather pleased by the lower price of the metal of kings. The central planning fools, in their effort to try and break the mystic of gold via a paper crash, have only ignited what once was sparks into flames for its physical accumulation....



“They do not understand that the day demand stands for full delivery at a contract maturity, even at these low prices, the fraudulent nature of the gold future, gold lease, and OTC gold hedges is revealed and therefore destroyed.



This could occur in gold at any price and need not be foreshadowed by a rise in the price of the metal. Since there is no gold anywhere and above ground supplies are now being significantly consumed by us, the physical gold market will set the price unencumbered by governments or manipulators. This freedom from manipulation by paper is the emancipation of gold.



Every time you buy one ounce of physical gold you cast your vote against the system and its masters, the banksters. These sociopaths rule by being bullies and committing fraud. Their days are numbered and gold is the ‘White Knight’ that is going to slay the evil dragon.



The biggest mistake the central planners have made is to depress paper gold, which they thought would stop the physical run on gold. They have ignored the fact that the Cyprus plan for confiscation of depositors' funds, originally at all levels of wealth, plus their clear call for nationalization of retirement accounts and funds, has gone viral around the entire world. No amount of denial will now stop the average person or the wealthiest of individuals from seeking other means to privatize and protect their wealth.



We all know that the next move of central planers can be predicted as currency controls. Consequently the trend to buying gold, seeking out of the system storage and closing down of large in the system deposit accounts and in the system retirement accounts, will now only accelerate.



The central planners in their infinite lack of wisdom have, by bombing the gold price, simply made the source of the problem more transparent and added huge short positions to the no gold behind paper fraud. KWN readers around the world have to keep in mind that the central planners have never, in all of history, succeeded in eliminating gold's role as money, or as a timeless protection of savings.



If the COT report does not reveal an enormous growth in the short position in gold then it will be revealed as being as much of a fraud as was the LIBOR rate. That is not to hard to understand when you recognize the exact people who gave you LIBOR are also the major architects of the COT.



We live in evil times wherein there will be no hesitation for the sharks to attack the other sharks when a severe weakness has been exposed. The Federal Reserve in NYC and Morgan may have a common tunnel between their precious metals depository, but given an opportunity, based on any weakness, either would attack the other for profit.



Governments annoyed by the prejudicial Cyprus 'bail-in' proposals, knowing that gold does not exist behind paper, need only accelerate their physical purchases to further expose the weakness that the now non-functioning fractional gold paper system has exposed.



This why two of the professionals that did recognize $1900 as a price the Banksters were most uncomfortable with also see this month as the culmination of an attempt to destroy physical demand by crushing the paper price. I cannot speak for Mr. Fennen, but I know that is Polny’s view.


"http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/21_Sinclair__Physical_Gold_Buyers_Will_Now_Crush_C entral_Planners.html

[Serpo]

THIS
IS
NOT
HOW
IT
IS
SUPPOSED
TO
WORK!!!!

1. But that's not the BIG NEWS. What is truly breathtaking is that the silver commercials who are long...and gross long at a record-breaking 60,000+ contracts...and which suffered incredible losses during the reporting week...and were subjected to Tuesday's margin hike...ACTUALLY ADDED MORE LONGS. THEY WERE NOT DEFEATED OR DISSUADED. THEY ARE STEADFAST.

GOLD

For the week, the LargeSpecs added 850 longs and covered 8,650 shorts. The SmallSpecs really got burned by the drop and also felt the sting of the margin hikes. They sold 7,150 longs and compounded their future issues by adding 4,250 shorts. Yikes! This allowed the Gold Cartel to only cover 1,900 net shorts as they added 6,800 shorts while they also added 8,700 longs. (I would imagine that almost all of this Cartel activity took place on Monday.) The updated Cartel net short ratio is a still-bullish 1.98:1.
SILVER
Just as in gold, the silver Large Specs added 1,200 new longs while covering 8,500 shorts. Their updated net long ratio is 1.8:1. And the silver SmallSpecs were burned just like the gold SmallSpecs. They sold 3,100 longs and added 2,000 new shorts. Double Yikes!
And now check this out. As mentioned above, not only did the everybody-but-JPM crowd NOT sell last week, they actually BOUGHT! They increased their already record breaking gross long position by 581 contracts to 61,641. Incredible mainly because they are subject to the margin hikes, too. Not only did they not bail...they gave JPM the finger and bought more!
This forced JPM and their two pals to issue even more naked paper. For the week, they added 5,155 new shorts, bringing their total back up to 84,139. The new Silver Cartel net short ratio is still extremely bullish at 1.36:1.

On massive selloffs, whoever is long (be it the specs or some commercials) is supposed to sell. This allows JPM and their friends the ability to cover. This is how it has worked for time immemorial. Period. End of story. NOT THIS TIME! Silver fell over $4 (15+%) in two days and yet JPM had to ADD SHORTS?!?! Are you kidding me

http://www.tfmetalsreport.com/blog/4660/xxx

[Hypertiger]

The top owns all the gold in circulation...of course to sustain a circulation the supplies have to be constantly increased...

All the top does is let you all bid up their assets...and then when you all below have bid them up enough...they short the assets or tax the bottom...Until everyone is running from the taxes and then they cover and let you all bid up the assets until it's tax time again.

April 15 was tax day...and taxes are rising globally.

The top...owner...employer...master...government.

Lives off the yield from

The bottom...the owned...the employee...the slave...the governed.

The top does all the buying and selling...the bottom follows along and speculates.

[Ponce]

There are NINE TIMES the ammount of gold above ground that there is of silver....so, which on do you think is more valuable?

Now they are going to use silver for those scanners tags of which billions of them are all over the world.

Those using silver for their electronics, and so on, are getting worried about their suppy.

The more of your silver and gold that you sell the more of your gold and silver that the power to be will buy which in turn means less gold and silver in the hands of the John Doe on the streets which means higher and higher prices for silver.

V

[mamboni]

Bloomberg News
Indian Jewelers Offer Premium on Gold Imports as Demand Surges
By Pratik Parija
April 23, 2013

A rush by Indian consumers to buy gold jewelry and coins after the biggest plunge in prices in three decades is prompting jewelers to offer premiums on imports as traders and banks run out of stockpiles, a trade group said.
Jewelers in big cities are paying as much as 800 rupees ($14.73) per 10 grams (0.02 pounds) while retailers in some remote areas are paying about 1,200 rupees per 10 grams as a premium, Haresh Soni, chairman of the All India Gems & Jewellery Trade Federation, said by phone today.
Buyers are flocking to jewelry stores and bank outlets to buy ornaments, coins and bars ahead of India’s main wedding and festival seasons after gold slumped to a two-year low. Standard Chartered Plc’s gold shipments to India last week exceeded the previous record by 20 percent and were double the week before, London-based analyst Dan Smith said by phone today.
Gold has declined 15 percent in London trading this year, completing its descent into a bear market, and fell the most since 1983 in the two days through April 15 on growing speculation that a recovery in the U.S. will curb demand for the metal as a store of value.
“There is scarcity of raw material in the market and demand is good now,” Soni said. “We don’t have a choice but to pay a premium to get the raw material on time. We normally don’t pay premium on imports.”
Overseas purchases of gold may jump 36 percent to 305 metric tons in the three months ending June from 225 tons a year earlier, Mohit Kamboj, president of the Bombay Bullion Association Ltd., said in a phone interview last week. Imports may climb as much as 20 percent this month from year earlier, he said.
Banks, Agents
“Banks and agents don’t have much gold left to sell and jewelers are buying at a premium to meet the rise in retail demand,” Kamboj said. “Small and retail investors are buying more coins and bars. Looking at the rate at which people are buying, imports are bound to rise.”
Futures on the Multi Commodity Exchange of India Ltd. (MCX) tumbled to as low as 25,270 rupees per 10 grams on April 16, the cheapest since September 2011. The June-delivery contract traded 0.3 percent lower at 26,275 rupees by 6:55 p.m. in Mumbai.
The Akshaya Tritiya festival on May 13 is considered by India’s more than 900 million Hindus as the traditional day to buy precious metals. Gold is bought during festivals and marriages as part of the bridal trousseau or gifted in the form of jewelry by relatives. The main festival season runs from August to October followed by the wedding season from November to December and from late March through early May.
India has tripled import taxes from as low as 2 percent in January last year after the current-account shortfall, the broadest measure of trade, widened and the rupee slumped to a record against the U.S. dollar. The current-account deficit widened to $32.6 billion in the last quarter of 2012.