IMF announces sale of 2nd half of gold tonnage.

Gold had hit as high as $1,125 today, but then lost $25 after the IMF announced that they would "shortly" sell the remaining 191.3 tonnes of previously approved sellable gold.

I've noticed there isn't much gold talk lately; is everyone afraid to jinx something? lol

Zyll's bottom held up fairly well and I think we are back on track for the climb to the top. I will never understand how anyone thinks we are out of the darkness.

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Permalink Reply by Buffalo on March 23, 2010 at 10:51pm

Thanks for posting that Lureuin. At least one encouraging sign before the meeting.

Lureuin said:

A little hint of what you will hear from the meeting:

http://www.kitco.com/reports/KitcoNews20100324B123A.html

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Permalink Reply by Lureuin on March 25, 2010 at 12:35pm

So far they're just going through the motions; big money will prevail, especially with the threat the the manipulators will just do their business in someone else's market.

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Permalink Reply by Steve W on March 25, 2010 at 1:32pm

I still think that the big players have $1100 as a target number! It seems that the price declines when you get north of $1100 and then recovers when you fall below that mark. It takes real financial muscle to do something like that. I wonder if the buys and sells are set up with a computerized system using preloaded benchmarks? The HAL 9000 of precious metal trading. LOL

Lureuin said:

So far they're just going through the motions; big money will prevail, especially with the threat the the manipulators will just do their business in someone else's market.

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Permalink Reply by Lureuin on March 26, 2010 at 4:30pm

Dang- A Korean ship sinks and gold rises like a cork in water. And just when the Friday beatdown was about to happen. Maybe I'll make a deal with NK, Palestine, and Iran; and get them to shoot a rocket every weekday at 10:30AM ET. That'll teach the manipulators.

Next week could be very interesting.

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Permalink Reply by IndianGoldEagle on March 26, 2010 at 6:52pm

Found this at the Kitco site. Looks like the IMF doesn't really want to sell physical gold after all. I think we might be getting closer to the break up of the gold cartel. Lets keep buying physical, it is the only way to break the backs of the manipulators.

IMF Is Now Rejecting Prospective Buyers For Its Gold Stash
Submitted by Tyler Durden on 03/26/2010 12:42 -0500

Eric Sprott International Monetary Fund Precious Metals

In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors. "I just spoke with Eric Sprott, who bid to buy [the IMF's remaining gold on the block] and they refuse to sell it." As Kitco points out, "the IMF might be holding out for a bigger buyer or a central bank or for higher prices. But Holmes argues the IMF's rejection of Sprott's bid means markets are being manipulated." Back to Holmes: "I think there is a lot of manipulation done by governments around the world in the currency markets which affect the bond markets so to me it's just normal course." Holmes concludes "with an election year there may be a gold rally that could be two standard deviations, or $300 dollars, to the upside. So you could see gold run to $1300 to $1500 quite easily." This all is occurring as ever more pundits finally realize that as fiats are discredited across the world, the only safe, non-dilutable resource is gold.

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Permalink Reply by Steve W on March 27, 2010 at 10:02pm

I do not dispute that PMs are a good place to park some cash. I have certainly done this in the last 18 months. However, the report that IGE presented still looks like goldbug puffiness to me. I think that major governments have a vested interest in preventing the kind of price increases that the gold marketing industry is predicting. They have the tools and the will to regulate this market. They will defend their fiat currencies as a national priority. Governments are the Gold Cartel! The exception to this might be Platinum because of industrial usage.

IndianGoldEagle said:

Found this at the Kitco site. Looks like the IMF doesn't really want to sell physical gold after all. I think we might be getting closer to the break up of the gold cartel. Lets keep buying physical, it is the only way to break the backs of the manipulators.
IMF Is Now Rejecting Prospective Buyers For Its Gold Stash Submitted by Tyler Durden on 03/26/2010 12:42 -0500

Eric Sprott International Monetary Fund Precious Metals

In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors. "I just spoke with Eric Sprott, who bid to buy [the IMF's remaining gold on the block] and they refuse to sell it." As Kitco points out, "the IMF might be holding out for a bigger buyer or a central bank or for higher prices. But Holmes argues the IMF's rejection of Sprott's bid means markets are being manipulated." Back to Holmes: "I think there is a lot of manipulation done by governments around the world in the currency markets which affect the bond markets so to me it's just normal course." Holmes concludes "with an election year there may be a gold rally that could be two standard deviations, or $300 dollars, to the upside. So you could see gold run to $1300 to $1500 quite easily." This all is occurring as ever more pundits finally realize that as fiats are discredited across the world, the only safe, non-dilutable resource is gold.