-- Posted Monday, 30 January 2006 | Digg This Article
HIGHLIGHTS in “Gold Forecaster - Global Watch”
Silver – COT, Gold : Silver Ratio EDR.V, SSRI, PAAS, SIL, SLW / Platinum.
SHARES: HUI, XAU, NEM, FCX, DROOY, NG, VGZ, Western Areas, Gold Fields, Randgold, Barplats, Portfolio Update, New Buy – ****, Sell – IGMI for 180% Profit!, Notes.
Index:
1-2. Market Forecasts / Short-term forecasts across the Board!
2-3. Comex
3-12. Central Bank Sales / Exchange Traded Funds / China – Who’s kidding who / The Global Gold Market from the Indian gold market / Iran & the Euro price of oil / U.S. Balance of Payments in Deficit? / GFMS update on the Gold market / Indian demand / Oil prices rising again / Prospects for the U.S. $ 2006 / Gold: Oil Ratio / Dow Jones / Technical Analysis of the Gold Price: Long / Gold price drivers 2006 / Short term in the U.S. $ / Treasury Notes / CRB Index
12 – 31. International Gold Markets / Silver / Platinum/ Silver & Gold Shares
Trial Subscription 3 months for $99 – go to www.goldforecaster.com
Do you want to receive your own copy of “Excerpts from “Gold Forecaster – Global Watch” ?
Then Send your e-mail address to: gold-authenticmoney@iafrica.com
Central Bank Gold Agreement Sales in 2006
Last week saw zero Central Bank selling by the Central Bank old Agreement signatories, the first time under this agreement, confirming our belief that the strongest gold price driver is lack of selling! This came on the back of ½ tonne sale from the week before.
Can we read more into this than a simple slowdown in sales? That there is a change in Central Bank views on gold [South Africa, Russia and possibly China] is a matter of public record, but the processes required to alter gold selling programmes is long and complicated. It is likely that the road to a cessation of any sales is a long one. However the question we should ask is have they embarked on that road and if so when?
GFMS wanted us to state their views on ‘Official’ gold sales is that:
“despite recognising the potential for certain players to appear on the buy side, we remain categorical that central banks will continue to be sellers overall.” And we respect them and that view. However, we remain in no doubt that at the decision making level in more than just the Bundesbank of Germany, there are questions being asked about the wisdom of these policies in the face of the global realities facing them. After all, these gold sale policies from the signatories of the Agreement started with the “Washington Agreement” when the gold price was under $300. It was then re-established in the Central Bank Gold Agreement, when gold was under $400.
The persistent reminder that Britain kept selling to average $270+ an ounce will continue so long as the price rises. As the credibility of the $ continues to wane and the gold price continues to rise, pressure has to be growing on the Central Banks to halt sales.
We have changed a view from last week and that is it is now unlikely that they will make any public statement if they do change their policies, they will simply withdraw from the market silently. After all the Central Bank Gold Agreement is to limit gold sales from them to a “ceiling” of 500 tonnes. Nothing is contained in this agreement stating how much should be sold by them. Indeed this agreement leaves the door wide open for them to exit should they wish to do so! As we have been saying for some time now, the Central Banks will complete their scheduled sales well ahead of the end of the Agreement. Well-respected banks are now confirming this in their reports too, we are happy to say.
Meanwhile we will have to watch the market place to see what they do, to hear their policy.
Randgold Resources – Missing Shares
After an audit of shareholders, Randgold Resources said that it could trace only 4 million of the ‘missing’ shares. Now it appears that even these are ‘gone’. Randgold Resources has announced that ‘missing’ shares worth $66 million in itself, once held by parent, Randgold & Exploration (R&E) passed through markets just days ago. Randgold Resources was informed by Société Générale SA (SocGen) on January 20 that SocGen had ‘acquired’ 4 million Randgold Resources shares on January 19. Based on available information’, as Randgold Resources puts it, it is believed that these shares ‘were formerly owned by a wholly owned subsidiary of R&E and have since been sold by’ SocGen. Mark Bristow, CEO of Randgold Resources, says that according to his company’s records, the 4 million shares concerned represented R&E’s ‘only identifiable remaining holding in Randgold Resources’.
Randgold Resources appears justifiably delighted that ‘their sale terminates the last link between the two companies and underlines Randgold Resources’ status as a fully independent business with a broad shareholder base. Randgold may now regain its former standing in the market place.
Portfolio:
Gold Forecaster subscribers were alerted to a new Buy order this week and booked profits on IGMI for a quick 180% gain!
To Subscribe to “Gold Forecaster – Global Watch”, please go to:
Legal Notice / Disclaimer
This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Gold-Authentic Money / Julian D. W. Phillips, have based this document on information obtained from sources it believes to be reliable but which it has not independently verified; Gold-Authentic Money / Julian D. W. Phillips make no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Gold-Authentic Money / Julian D. W. Phillips only and are subject to change without notice. Gold-Authentic Money / Julian D. W. Phillips assume no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.
Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Authors have taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond our control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The information presented in stock reports are not a specific buy or sell recommendation and is presented solely for informational purposes only. The author/publisher may or may not have a position in the securities and/or options relating thereto, & may make purchases and/or sales of these securities relating thereto from time to time in the open market or otherwise outside of the trading timeframe listed above. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted Monday, 30 January 2006 | Digg This Article
