JUst when gold got back on its feet the evil IMF stepped in

If you read and understood my post, which you give no indication to having done either, then you would see it was about mathematics and not the gold market. Cheers.

 

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i read what you had to say and hence my post perhaps you should read my post again. cheers

 

And so, back on topic......what's happening with the IMF gold.....still being sold on the market or not? Last I heard, they retracted the sale....is that still true?

 

I never heard that they retracted their offer, are you sure?. and I haven't heard of anyone wanting to buy it either, except for Sprott's "offer" which I consider a publicity stunt designed to promote his physical fund and suggest that the IMF "doesn't actually have any gold".

Someone, I forget who, maybe Jim Rikards, suggested that the Chinese will almost certainly not buy it because they want to acquire a great deal more over the next decade. They can produce more than the IMF is offering within one year by themselves. So perhaps they don't have much incentive to buy it here and put a floor under the price as India did.

Or--maybe it's all just a big scam, and we are the only ones buying it after all .

 

now here is a lil twist you dont know about there are a lot of gold reserves in india but the govt wont move a muscle to mine them. it has come for debate in every decade and every decade they decide to much money is flowing out and something must be done and the gold reserves must be mined but then nothing happens. when it happened the lat time poor nadler caught it and was worried that if it happens the price of gold will fall but there si to much inertia to overcome

 

It is possible that the IMF gold was never for sale, and that the whole thing was a bluff to knock down the gold price. Sometimes the threat is stronger than the execution.

 

That would certainly affect the price! According to the World Gold Council, total worldwide demand for gold in 2009 was 3,800+ tons. The impact of millions of tons of imports can readily be imagined.

 

Bump.

 

I believe I read somewhere that the IMF sold about 13 tonnes of gold on the open market in the past few weeks. Not anywhere near the 400 tonnes that they originally intended to sell, but it shows they are selling some gold on the open market.

 

I personally wouldn't mind if my gold was diluted with Iridium. Gold is 4X more abundant in the earths crust and IMHO Iridium is fundamentally undervalued (and/or gold is over-valued but that's another issue..). Who wouldn't swap their gold coins for 19th century gold plated platinum fakes? Same deal here.

 

Iridium in really small amounts can be a desirable jewelry additive:
http://www.ganoksin.com/borisat/nenam/gold-alloys.htm
Though not at the concentrations reported in India:
http://timesofindia.indiatimes.com/...dium_rampant_in_India/articleshow/4049562.cms

 

Here's the evidence that the IMF is selling their gold on the open market.

http://www.reuters.com/article/idUS...ia_ow=t0:s0:a49:g43:r4:c0.066667:b33768672:z0

 

What makes this important is that the gold sales took place at exactly the same time that Nadler and the other self-appointed gold experts were saying that the IMF gold sales had stumbled. For me, the point of this thread is that the "experts" are anything but. What we can't know is whether they are merely incompetent, or if they are paid for their anti-gold stance.

 

Liars?...Shills?...Can they do that!? Say it ain't so!

 

I guess it depends on how you look at it. I guess you could say the sales stumbled since the IMF is selling it 5 or 6 tonnes a week or so, as opposed to all 400 tonnes being sold in one shabang.

I also read somewhere else that the IMF had already sold about 13 tonnes over the past few weeks. So, they probably only sold 20 tonnes of the 400. Would you call that a stumble?

 

There is no way to tell because the IMF is very deceptive and secretive in what they say and do. It is very possible that they were just trying to talk down the price of gold with no real intent to sell it all. Nobody will ever know for certain. What seems certain is that the gold "experts" who continue to proclaim the end of the gold bull market are completely wrong [so far].

 

Bump. It's too soon to let the "analysts" off the hook. Under normal conditions, analysts who are consistently wrong would lose credibility. Yet these guys have been calling it wrong for a long time and somehow remain respectable. We'll see how it goes.

 

Well, they're credibility really isn't up for consideration unless someone calls foul on what they predicted. Are you doing that at this time???

 

A string of predictions were made that nobody wanted the IMF gold at $1,100 or so, implying it was overpriced. I just want to track this for awhile and see if they were right or wrong. Too many analysts get free passes on their mistakes.

 

Bump. It's only fair to bump it when gold is going down as well as up.