posted
NXG i sold way too early NaturalResources - my specialty! oh well.
still holding NTO - nice uptick lately. ROK.V - wow, blew up from mid-1's to $3, beauty. EDV also a new all-time high yesterday, still holding
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posted
the Russkies have been the driving force behind gold price over the last couple years...
and they are still accumulating:
Russia gold and currency reserves increased to record-high
05.04.2007, 11.18
MOSCOW, April 5 (Itar-Tass) - Russia’s gold and foreign exchange reserves increased by 6.1 billon dollars or 1.8 per cent to 338.7 billion dollars on March 23-30, Prime-Tass said Thursday with reference to the Central Bank.
The size of gold and currency reserves is another record for the whole period of regular publication of this information by the Central Bank.
As compared to January 1, when the figure was 303.7 billion dollars, the reserves have grown by 11.5 percent.
quote:Originally posted by blue_in_MI: NXG i sold way too early NaturalResources - my specialty! oh well.
still holding NTO - nice uptick lately. ROK.V - wow, blew up from mid-1's to $3, beauty. EDV also a new all-time high yesterday, still holding
Don't be hard on yourself...NXG has pretty much stalled out. Bears make money, Bulls make money, Pigs get slaughtered...
Northgate is waiting on another public hearing session for KN... The way this project has been delayed by First Nations, it is becoming more unlikely that production at KN would start before KS runs out of steam...
So... It will be up to NXG to either find the "mother-load" at YD or acquire another mine that is about to start, or is already in production, as it attempted with AZK. If they fail to, this stock will start to gain some substantial downside risk.
I don't really see anything moving NXG up in the near-mid term besides Gold prices, which BTW seem to want to test the 700$/oz range.
Congrats on your NTO, ROK.V, and EDV. Have you checked out GPXM lately? They have brought Ashdown into production and are now talking about restarting Mineral Ridge.
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posted
Gold is 5 dollars away from breaking through the $700/oz level...
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posted
Looks like gold pulled back a bit this afternoon. IMO, keep an eye on it overnight though... If it breaks through 700/oz while US markets are closed, there should be some fireworks tommorow at 9:30am.
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posted
Dutch Gold Resources Confirms Higher March Sales Wednesday April 18, 6:22 am ET
Mining Program Yields Free Gold
ATLANTA, GA--(MARKET WIRE)--Apr 18, 2007 -- Dutch Gold Resources, Inc. (Other OTC:DGRI.PK - News), a developer and operator of proven gold mines and a regional mill in North America, today reported higher sales for March 2007 than previously reported. In addition, the Company has reported finding free gold in its current mining production.
Earlier, Dutch Gold had reported initial sales in excess of 800 ounces of gold for the month of March. Final production, confirmed internally, was over 985 ounces of gold. The increase is due primarily to enhanced production yields from higher than projected grade ores. Further, this production included only three shipments of concentrate for the month. The Company reiterates that it expects to average four shipments a month on an ongoing basis beginning second quarter 2007.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "We are pleased with the positive results of our initial month of regular operations. We are optimistic that our operations team will continue to produce these solid results as we are only now beginning to realize the potential from the Benton Mine. We look forward to continuing to optimize our production during this time of rising gold prices with the goal of increasing profitability and maximizing shareholder value."
In addition, the Company operations have produced an unusual amount of free gold, not commonly seen in structures such as the zones being currently developed. Dutch Mining expects to conduct additional sampling to determine the source and magnitude this anomaly.
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posted
Gold pulled back quite a bit last week. Looks like there is support at 640/oz and 570/oz, with resistance at 670/oz and 700/oz. Some "experts" are predicting gold above 700 by the end of this year. Anyone care to speculate where the price for gold is headed over the next 4 weeks?
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Dutch Gold Resources to Install Enhanced Recovery Ore Circuit Monday June 11, 9:28 am ET
Independent Assays Indicate Yield Improvement
ATLANTA, GA--(MARKET WIRE)--Jun 11, 2007 -- Dutch Gold Resources, Inc. (Other OTC:DGRI.PK - News) (the "Company"), a developer and operator of proven gold mines and a regional mill in North America, today announced that this week, it will complete an additional upgrade of its mill consisting of the installation of a new Gemini Table. The Gemini Table is used to further clean the concentrate from the recently installed Knelson Concentrator. The equipment is being installed to enhance the yield from its ore following the Company's recent discovery of free gold. Following the installation of the Knelson Concentrator, initial assays show that the tail values have decreased, indicating a higher recovery of gold from recently produced ores.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "We are making great strides to optimize our yield of gold produced per ton. The addition of the Knelson Concentrator has already produced tangible and promising results. We believe the additional installation of the new Gemini table this week should continue to further recent progress. Upon completion of the circuit, we will be able to market not only flotation concentrate, but free gold and gravity concentrate as well. We anticipate this having a positive impact on both our top and bottom line."
The Company regularly sends samples to an independent third party for assay results. Initial reports indicate that the Knelson concentrator, installed in May, has made an impact on recovery rates. Dutch expects that with the introduction of the Gemini Table into mill operations, these recovery rates will continue to improve.
About Dutch Gold Resources, Inc.
In January 2007, Dutch Gold Resources, Inc. acquired Dutch Mining LLC, which was founded in 1994. Dutch Gold is engaged in the mining and processing of proven gold reserves in North America. The company's strategy is to focus on overlooked resources which can be quickly and cost-efficiently brought into production. The Company currently owns two mines in southwestern Oregon, consisting of the Benton and Gold Bug Mines. Production resumed in March 2007 and the Company has begun a drilling program to prove up additional reserves, and enhance future production. Please visit the Company's website for additional information at: www.dutchgoldresources.com.
To learn more about the company, you may also go to: http://researchworksllc.com/Research/DGRI/ to view a recent research report on the Company in addition to pictures of the Company's mill and Benton mine.
Certain statements in this release, and other written or oral statements made by the company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The company assumes no obligation and does not intend to update these forward-looking statements.
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posted
Gold looks like it might have bottomed out at 640/oz. Hopefully it will go up from here. If not, I might have to lighten up my gold holdings a bit more.
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quote:Originally posted by NaturalResources: Gold looks like it might have bottomed out at 640/oz. Hopefully it will go up from here. If not, I might have to lighten up my gold holdings a bit more.
I wouldn't dare sell gold or silver at these levels. Specially silver!
IMO I would lighten your load on gold and split the $ difference into silver.
The risk reward ratio in silver is a no brainer at these #'s
The next few years will be incredible IMO
TED BUTLER COMMENTARY
July 3, 2007
SELL OFFS MAKE YOU THINK
By Israel Friedman
(Izzy Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.)
My good friend, Mr. Butler, thought it was a good time for me to write something. Since we talk to each other about silver so much, I am happy to have the honor of having my thoughts recorded, and I hope I don’t steer anyone wrong with my opinions.
If you study silver like I do every day, the recent price drop affects you in different ways. It makes you afraid of losing money, or angry if you believe in manipulation. For some people, it makes them happy they are in a position to buy more. A sudden sell off like this last one also makes you think and re-evaluate. I wonder if the original reasons I bought silver are still okay. That is good because things can change. In fact, I think things have changed in silver. Believe it or not, I think the silver story has gotten better than before.
I agree with what Mr. Butler writes about the manipulation. I think the recent sell-off proves it more. Nothing changed in silver to account for such a sharp decline. It’s only the questionable dealings on the COMEX. But, Mr. Butler writes about the manipulation and I want to talk about something else. I want to talk about the opportunity of a lifetime that silver represents. When I look at the facts in silver, I reach a conclusion on price that many would consider ridiculous. Mr. Butler told me not to print the prices I discuss with him in private. He says that I will appear too extreme and lose credibility. He says he doesn’t necessarily disagree; just that the numbers are so high that people will laugh and lose the real message. I tell him that extreme projections can come true, and this silver projection can make regular people rich.
The best way to analyze silver is to compare it to something else, like gold. They have been used and compared for thousands of years. People say how gold is no one else’s liability, has been money for thousands of years and cannot be created at will. The same things can be said about silver. Central banks own tremendous amounts of gold and hardly any silver anymore.
Silver has come to be used so much by industry over the past 50 or 60 years that most of the inventories in silver have been used up. Now we have more gold above ground than we have silver above ground. Silver is more rare than gold. There are 5 billion ounces of gold above ground and only 1 billion ounces of known silver. We have over 62 years of gold production above ground. In silver, we have less than two years of mining production.
The rarer and more industrially needed item should be $650 and the more plentiful and less used item should be $13. I say that silver must go at least into the high triple digits to make a balance between the real inventory and the price. Silver will be $50 to $100, but it will be a mistake to think the party is over then.
So few believe that silver can go to such high numbers that it creates an opportunity for those who buy silver to become rich. In my opinion, that’s without taking big chances. Do you think there would be such an opportunity if everyone knew of it? All you need is a good silver position and to allow enough time for the fundamentals to work and for enough people to learn about silver.
You don’t have to put all your money into silver, just enough. And you must put it into the right kind of silver. You must have real silver in your own possession or silver stored for you in the right way. If you want to speculate on margin, then speculate. But don’t pretend you are making a real silver investment for the long term. And the long term is where the big money will be made. I hope that this article will help those holding silver to feel good about their holdings and helps to convince those not holding silver to get some
By Theodore Butler
(This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.)
The remarkable saga of the raptors continues. I’m referring to the commercial traders on the COMEX, aside from the four and eight largest traders in the Commitment of Traders Report (COT). To summarize, over the past year or so, a pattern has developed where the smaller commercial traders in the large commercial category seem to be aggressively stepping in front of the dominant shorts in silver (and gold).
The recent sharp sell-offs in silver and gold do not disprove my theory, at least not yet. In truth, this last sell-off was so severe, especially in silver that I thought I might have to lay the raptor theory to rest. After all, silver sold off so sharply that it set a record for how much it traded under the 200 day moving average. I thought the big T. rex commercial shorts may have turned the tables on the smaller raptors by engineering the price so low that the raptors might be forced to sell. I was fully prepared, in that event, to title the article, "The Rex’s Eat The Raptors." Maybe that will be the title some day, but not today.
Instead, the raptors accounted for a disproportionate share, once again, of the dealer buying on the big break. Of the total commercial net buying of 7000 silver futures contracts, the raptors accounted for 5500. As a result of the raptor buying we hit some new milestones in the most recent COT, for positions as of 6/26.
The raptors now hold an historic net long position of some 14,500 silver contracts. The four largest traders are now short more than 104% of the total commercial net short silver position, also a record in percentage terms. Likewise in gold, some new records were set. The gold raptors now hold an historic net long position of 46,000 contracts and the eight largest traders now hold a net short position that is 155% of the total commercial net short position.
Given the extreme levels of concentration in silver and gold, and given the strong connection between concentration and manipulation, I am at a genuine loss as to why there is not more discussion on this issue. I see that plenty of people have picked up the significance of the COTs in general, but very few have dared speak up about the concentration levels, which are a key component of the weekly reports. As a reminder, concentration is reported because it is the prime requisite for manipulation, not because I say so, but because the CFTC and commodity law says so.
On another issue, the turnover in COMEX silver inventories continues. Over the past two weeks, some 23 million ounces have been received and 18 million have moved out. Of the amount received, 19 million ounces were in the ScotiaMocatta warehouse. It does not appear to be the same silver being transferred. Now that the first three days of deliveries have taken place on the big July contract, it does not appear that much of the silver received in the ScotiaMocatta warehouse was earmarked for delivery. I still have the opinion that the most probable reason for the in-movement was to camouflage the out movement. It’s as if someone wants to hide the fact that so much silver is being withdrawn. Of course, if my speculation is correct, that should be against commodity law as well.
Another One Bites The Dust?
There may have been some small amount of prior warning, but I am still taken back by the sudden resignation of Reuben Jeffery, chairman of the CFTC. After less than 2 years as chairman, his resignation was announced the same day he departed, June 27, leaving three vacancies on the five-member Commission. Whatever happened to giving proper notice and helping to find a replacement when one departs a job? I’m also surprised with the lack of media coverage of the event. Of course, I can’t say it’s related to the silver manipulation, but not because silver isn’t manipulated. If the resignation were unrelated to the silver manipulation, it would be because the CFTC is (still) clueless.
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(This essay was written by silver analyst Theodore butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.)
The most recent Commitment of Traders Report (COT), for positions held as of July 3, contained some surprisingly bullish data for silver. The report indicated another sharp reduction in the total net commercial short position, by almost 6000 contracts, to the smallest net short position (42,000 futures contracts) in nine months. While the total net short commercial position in gold widened a bit, we are still at a very low level of commercial net shorts in gold, indicating that both silver and gold are structured to move higher. Perhaps sharply higher.
In fact, it’s hard to imagine how there could be a continued significant improvement in the COTs for silver or gold. This would appear to be the time for a maximum exposure to the upside, especially in silver.
Aside from the extreme bullish structure in the COTs, always good news for metal investors, there were some further milestones set in the COMEX silver market that cannot be considered good by advocates of free markets. The concentration on the short side of COMEX silver continues unabated. For the life of me, I can’t decide what is worse; that the silver manipulation is so blatant, or that so many are silent on this issue, particularly those in regulatory or industry-leadership roles.
The new COT report shows that the four and eight largest COMEX silver traders now hold an historic concentrated short position, compared to the total commercial net short position, in percentage terms. (And on a straight contract basis, the big shorts are not that far from historic levels.) The four largest traders now hold more than 118% of the total commercial net short position, while the eight largest hold over 146% of the total net short position.
Meanwhile the raptors just rock along, with the smaller commercials now net long almost 19,500 contracts, the most I’ve ever seen. Of the almost 6000 total futures contracts bought by the commercials in the most recent COT report, the raptors accounted for 5,000. The only real question is that when we eventually get technical buying as prices climb through the various moving averages, will the raptors sell and take quick profits, or will they sit back and do nothing and let prices truly explode? We should know soon enough.
The central issue in the silver market, in my opinion, continues to be how this super concentrated position on the short side be allowed to exist. Let me keep this simple. We have never witnessed, in the history of the commodities markets, such an extremely concentrated position that we now see in COMEX silver. Not in the Hunt Bros. long side silver manipulation, not in the Sumitomo copper manipulation, not even in the Amaranth natural gas fiasco.
This concentration issue is not complicated. There cannot be manipulation without concentration. There cannot be concentration without the extreme likelihood of manipulation. This is why the concentration data features so prominently as a regulatory tool and is an integral component of the COT report on every commodity. The concentrated short position in COMEX silver is so extreme, that it does not even matter if real silver or alleged hedges back this short position. Concentration equals control. Markets cannot be controlled and be considered free.
The concentrated short position in COMEX silver, as repugnant as it is to the concept of free markets, is not to be feared. It is the silver investor’s best friend. The four largest traders are net short 250 million ounces in COMEX silver futures. That sale has already occurred, as well as its negative impact on price. Since every short sale is an open transaction that must be resolved at some point, the positive impact on price lies ahead. By manipulating the price of silver much lower than it would be without this short position, the concentrated short sellers have done all silver investors a great favor. They have created the greatest investment bargain in history. That will be apparent when it is exposed and ultimately resolved.
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Great articles. Looks like gold might be making at run at 700/oz again. Silver is moving up as today as well. I am going to keep a close eye on them for the next few days.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Great Article on silver... As soon as I get some more dry powder I'm going to take a bigger position in it...
Thanks a surfer.
NR.
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posted
Gold touched 719/oz today... Will be interesting to see how things play out over the next 48 hours with the Fed decision coming...
Everyone is saying there should a rate cut, which means gold prices should go up...
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posted
Gold soars to $725 as Fed slashes rates, kills confidence in the Dollar
quote:Spot Gold Prices soared 1.5% from their lows of the session to a new 16-month high above $725 per ounce on Tuesday after the US Federal Reserve slashed its key interest rate by 50-basis points.
Intending "to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets," the Fed's first cut in its main US interest rate takes the cost of borrowing Dollars to 4.75%.
Wall Street stocks also rose sharply, adding 1.8% to the Dow Jones index inside 45 minutes. "We see more cuts ahead," says David M.Jones of DMJ Advisors in Denver, a former Fed economist. "They have to rebuild confidence, both in terms of lenders and Main Street."
But the dash towards using cheap money to avoid a housing-led recession knocked confidence out of the US currency itself, with the Dollar promptly sinking to a new all-time low versus the European single currency.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
Gold hit a 27 year high overnight.... currently trading above 735/oz
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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Let me see if I understand. Your saying stock up on physical silver (such as coins) and hold onto them while silver appreciates in value?
Would you have to take them somewhere and cash them in or melt them? If I simply went to a store and used them, I would get what they are worth face value, so I'm assuming there is a way to do it.
Thanks for the input btw
Posts: 2329 | From: MD | Registered: Jul 2005
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posted
silver is easy to accumulate...and yes, i've always collected it as a hobby...
if you want to trade?
gold's symbol is GLD and it's 1/10th ounce trades.. closed at 72.72 today...
as for gold mines? that requires more DD to determine the co's cost of extraction & other overhead.. with the cost of fuel going up? overhead is going up too.. if you want to trade futures and options? then the place to start learning is here:
posted
I agree with Glass. If you are interested in investing in precious metals, the cheapest and easiest way to start is by collecting old silver coins as he suggested.
Any Quarter or Dime made before 1964 has silver content, and pennies before 1982 are actually worth twice their face value at current metal prices, due to the copper content. An easy way to sort out silver quarters is to view them from the edge. A silver quarter is silver in color from one face to the other, where as one made after 1964 you can see the copper sandwiched between to nickel faces.
Always make sure you check your silver coins closely, sometimes you can find a rare one... Especially when it comes to silver coins... Many of them got removed from circulation or destroyed all together when people melted them down in the 80's when silver prices were close to 50$/ oz.
HOWEVER, keep in mind, as of 2006, melting down coins is illegal and violators can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years...
If you want to build a serious hoard of silver at cheap prices, you might be able to buy large, 'grab bags' on Ebay or other online auctions... Though it has been a while since I have done that, so prices may be up...
If you are looking for higher priced, yet still affordable coins, try the US mint. I try to buy one set every year of silver proof US quarters... A bit more expensive, but better quality than what you find in circulation and might have higher value as a collectors item.
This of course, is only one way to invest in precious metals, there are many others, as explained in this wikipedia entry.
I do think 'a surfer' brings up a good point about whether or not right now is a good time to be buying... Gold and silver are high priced compared to just 3-4 years ago, so be sure to do your own DD.
Personally, short term 1-3 months, I am slightly bearish for gold, I think people will be taking profits because prices have risen sharply over the last few weeks...
Midterm, 3-6 months, I am slightly bullish because of seasonal demand, and speculation of further rate cuts by the fed....
GLTY, hope I have been helpful. NR.
-------------------- One is never completely useless. One can always serve as a bad example. Posts: 2430 | From: CA | Registered: Jun 2005
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posted
NR notes: "HOWEVER, keep in mind, as of 2006, melting down coins is illegal and violators can be punished with a fine of up to $10,000 and/or imprisoned for a maximum of five years... "
true dat, and you can get in trouble shipping too much...ie, sending to an overseas "buddy" who melts 'em down.
posted
Just so you know, I am a full time coin dealer. I have full time shop and travel across the country selling at shows. All dimes, quarters, halves, and dollars dated 1964 and earlier are 90% silver. This is a great way to accumulate silver as most dealers will sell this kind of thing to you at slightly over melt value. Current melt value on old silver coins is 9.785 times face value. So an old silver dime has just over 97 cents worth of silver in it and so on. Silver rounds and bars can also usually be purchased for a small premium over spot value.
Now the same isn't true of old gold coins produced by the US. Most old gold brings a higher premium over spot value. But there are plenty of choices in bullion gold out there to choose from. The cheapest premium over spot is usually the Krugerrand. Personally I like to put smaller pieces of gold away in my safe for the future, because if gold ever does go through the roof, larger pieces may be harder to sell because of the $$ value involved. But keep in mind the smaller pieces usually demand a higher premium over spot value.
The dollar is going to be one of the strongest issues relating to bullion pricing. As the dollar continues to fall against foreign currencies the price of bullion should continue to increase. There are of course other factors.
If you are looking to buy bullion just call the coin shops in your area and compare prices. And when it comes time to sell, just do the same thing. Believe me, not all dealers will have the same price and it's worth your time to shop around.
Good luck!
-------------------- My opinion is only that. Posts: 384 | From: Colorado | Registered: Oct 2006
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hey JJ, how much should i expect to pay to get a peace dollar professionally cleaned?
i picked up a 28 S recently that looks like somebody wrote on it with a sharpie... other than that it's real clean... i know better than to clean one myself, and i wouldn't bother except this is one is fairly rare. i know it'll never get rated 65, but....
-------------------- Don't envy the happiness of those who live in a fool's paradise. Posts: 36378 | From: USA | Registered: Sep 2003
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quote:Originally posted by glassman: hey JJ, how much should i expect to pay to get a peace dollar professionally cleaned?
i picked up a 28 S recently that looks like somebody wrote on it with a sharpie... other than that it's real clean... i know better than to clean one myself, and i wouldn't bother except this is one is fairly rare. i know it'll never get rated 65, but....
Many dealers cannot clean coin properly so be VERY careful. If it looks like a sharpie you might be able to do this very easily. Just pour some fingernail polish remover into a glass and place the dollar in it. Let is soak for a minute or so and then take a q-tip that has been dipped the the fingernail polish remover and lightly rub the area. Do it VERY lightly as if you do it too hard you can put hairline scratches on the coin. Rinse very well in hot water and pat dry and there you have it. If it doesn't work I would need to see the coin to see what the issue is. I hope this works and good luck.
-------------------- My opinion is only that. Posts: 384 | From: Colorado | Registered: Oct 2006
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