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Gold Seeker Closing Report: Gold and Silver Fall Almost 4% and 6%
By: Chris Mullen, Gold-Seeker.com


-- Posted Wednesday, 14 December 2011 | | Disqus

 

Close

Gain/Loss

Gold

$1572.30

-$58.70

Silver

$28.81

-$1.83

XAU

182.58

-2.79%

HUI

508.89

-2.95%

GDM

1451.31

-2.97%

JSE Gold

2952.82

-100.37

USD

80.54

+0.22

Euro

129.78

-0.57

Yen

128.13

-0.12

Oil

$94.95

-$5.19

10-Year

1.901%

-0.061

T-Bond

144.75

+1.34375

Dow

11823.48

-1.10%

Nasdaq

2539.31

-1.55%

S&P

1211.82

-1.13%

 
 

 

The Metals:

 

Gold plummeted all the way to $1564.02 by late morning in New York before it bounced back higher in early afternoon trade, but it still ended with a loss of 3.6%.  Silver slipped all the way to $28.508 before it also rebounded, but it still ended with a loss of 5.97%.

 

Euro gold fell to about €1211, platinum lost $57.50 to $1414.50, and copper dropped 11 cents to about $3.27.

 

Gold and silver equities fell over 4% by late morning before they rebounded a bit, but they still ended with almost 3% losses.

 

The Economy:

 

Report

For

Reading

Expected

Previous

MBA Mortgage Index

12/10

4.1%

-

12.8%

Export Prices

Nov

0.1%

-

-2.1%

Export Prices ex-ag.

Nov

-0.1%

-

-1.5%

Import Prices

Nov

0.7%

-

-0.5%

Import Prices ex-oil

Nov

-0.2%

-

-0.2%

 

Reid Says Senate Will Block House Republican Payroll Tax Cut Bloomberg

Skills ‘Mismatch’ Hurts U.S. Jobless as Openings Grow Bloomberg

Bernanke Signals Fed Ready to Ease on EU Risk Bloomberg

Existing home sales to be revised lower Yahoo

 

Tomorrow brings Initial Jobless Claims, PPI, Empire Manufacturing, the Current Account Balance, Net Long Term TIC Flows, Industrial Production, Capacity Utilization, and the Philadelphia Fed.

 

The Markets:

 

Charts Courtesy of http://finance.yahoo.com/

 

Oil fell over 5% as the U.S. dollar index and treasuries jumped higher on worries over Europe, debt, and a slow global economy that sent the Dow, Nasdaq, and S&P over 1% lower.

 

Among the big names making news in the market Friday were Olympus, Goldman, Broadcom, Avon, and Delta.

 

The Commentary:

In almost three decades in and around Wall Street, I’ve never seen such widespread distaste and outright hatred of an investment that for almost a decade has greatly outperformed just about every other investment vehicle: gold. I will discuss why I believe this is the case in a moment, but I want to first respond to what I can only describe as one of the “Three Stooges of Gold Forecasting’s” latest forecasts that has once again caused near hysteria among gold players and the media that follows it.

Dennis Gartman, a true master of self-promotion but who’s actual track record (if anyone in the media actually delved into it I believe they would see for themselves) better suits him for the lead role in “The Boy Who Cried Wolf,” has once again grabbed headlines with yet another the-gold-bull-market-is-over assertion.

Mr. Gartman is one of three people who many in the media continue to quote despite a nearly decade-long poor overall track record on gold. He, Jeff Christian and Jon Nadler have demonstrated to me (and I suspect many others) that a broken clock’s percentage of telling the correct time in any given day is about the same as their actual accurate forecasts for gold in the last decade.

Yours truly has called this the “mother” of all gold bull markets and, by making the following offer to the Three Stooges of gold forecasting, I would like to offer up a million reasons why:

I will wager any one of them (or a combination of all three) one million dollars U.S. that gold will hit $2000 before it hits $1,000 on the COMEX. I have arranged for the law firm of Lomurro, Davison, Eastman & Munoz of Freehold, New Jersey to hold the funds in trust. For once, let one or all of the most arrogant and often wrong gold forecasters truly put their money where their mouth is when it comes to gold forecasting. This offer shall be good until midnight, December 31, 2011 (I will donate my winnings to charities).

With regard to gold and the fact that I was supposed to be on vacation until January 3rd, I will be short and sweet: the great “Bull Run” won’t end until the price of gold has at least a “2” in the front ($2,000+).

In a nutshell, gold basically traded between $300 and $500 from the time it began free trading in the early 70s. It did briefly overall hit the mid $800s in early 80s. Up until the new millennium began, gold was greatly hindered by three factors, all of which are no longer negatives:

·         Large-scale Central Bank selling;

·         Gold producers cutting their noses to spite their faces by selling large quantities of production forward (hedging);

·         No vehicle that could provide institutional type investors the ability to acquire/control large quantities of gold easily and provide liquidity. (The choices were purchasing physical bullion with costs and storage concerns and/or mining shares that proved more than once not to be exactly like owning gold).

These three former great negatives became major positives when:

·         The Washington Accord was reached and Central Bank sales first became managed and then eventually turned into net buying;

·         Producers like the old American Barrick (now Barrick Gold), who were more commodity traders than miners and used sophisticated hedging strategies to net much higher prices for gold than simply selling their production, were scorned for selling forward and it became evil to do so among investors;

·         The creation of Exchange-Traded Funds (ETFs) allowed institutions to make gold part of their portfolios in an easy and liquidity-driven way and ended up tipping the scales heavily in favor of demand over supply.

The Three Stooges and the overwhelming negative gold pundits who think like them (Are all over the airwaves today) could only not ever grasp this changed landscape, but they could never also accept that despite widespread proof that all types of markets worldwide have been manipulated, that somehow manipulation didn’t occur in the gold market. Their favorite response was/is, “if gold is/was manipulated, how then did the market rise so much?” trying to suggest it should be much lower if people truly were trying to hold it down. These “pied pipers” of the hate gold crowd would want you to believe that the widespread corruption that has become evident in financial markets worldwide somehow doesn’t take place in gold and silver.

And that brings me to the final piece of the puzzle that has made up the gold game since it first started trading freely in the 1970s: gold is, and shall always be, hated by the overwhelming majority of people who work in the financial services industry and the media that follows it. You’re never ever, ever, ever, ever, ever, ever, ever going to find universal overall support for gold because to do so would equate to undermining what drives the financial services industry worldwide – the buying and selling of financial assets. Just like you will never hear a Ford dealer tell you to buy a Chevy or an Atheist tell you to love Jesus, an industry that makes its living selling stocks and bonds isn’t going to tell you to load up on something that usually benefits from their misfortunes. And neither shall the media in general who lives off those selling stocks and bonds.

So stop looking for the “crowd” to be gold lovers. In fact, when they come remotely close to that (like they did in September), it’s always a sign that a top of some type is near.

Instead, recognize the fundamental changes I spoke of that make up the gold market, throw in the fact that the world has gone mad with the printing of paper money and an epic crisis in the Middle East is coming in 2012, and use this correction in gold to add to or finally take ownership in the last great buying opportunity before the Three Stooges and their legion once again get bloodied and gored by the mother of all gold bull markets.

Because it’s that time of year when market moves can be exaggerated due to lack of liquidity, and the fact that the haters are having one of their “rare” opportunities to pound their chests (look at all the negative gold comments in the last 48 hours. Even Hulbert noted bullish sentiment near zero), it would come as no surprise to see the September lows of $1531 gold and $26 silver tested and/or broken briefly. One of the true best timers and good friend Mark Leibovit pointed out to me that cycle lows are not due for another month or so. Knowing this and the technical damage that has been done, there’s no need to rush and mortgage the house to buy gold. An accumulation program with time and price targets over the next several weeks should IMHO lead to a very nice capital gains Christmas present this time next year.

Finally, when the bears are once again proven wrong and we go over $2,000, the media shall finally ask them why they got it wrong yet again versus asking those of us who had it right for a decade why is it temporarily down….. NOT!”- Peter Grandich, Grandich Letter

Over the last 14 months, the gold mining shares, as represented by the HUI, have been trapped in a very broad range bounded by 600 on the top side and supported by 500 on the bottom side. The fact that this range has continued for such a long period of time and has repeatedly reinforced itself underscores how important from a technical perspective it is should anything occur which forces a violation of this range.

Having moved down to the bottom of this range in today's session it has of this hour bounced rather strongly off of that level once again. That is reinforcing the significance of the 500 level on the technical price charts and makes it all the more critical that the HUI not close substantially below this level.

A weekly close below 485 - 480 would therefore signify that something significant has changed in regards to investor/trader sentiments towards the precious metals sector as buyers pull back on their bids expecting lower prices. Owners of these shares will want to monitor trading action closely to see how this sector reacts as we move to the end of the year. Odds favor a continuation of the sideways trading pattern but if sentiment sours further as traders fear inaction by the monetary authorities, support levels could give way. We just have to wait and see what the market tells us.- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/

 

GATA Posts:

 

 

 

Lost your shirt in the market? Buy a replacement from GATA

Irked by GATA, Bank of England denies gold loans, swaps since 2007

Royal Canadian Mint considers offering silver bullion receipts

Sometimes it's just too hard trying to make money in gold shares

Paul pulls within 1 point of leader Gingrich in Iowa poll

 

The Statistics:

Activity from: 12/13/2011

Gold Warehouse Stocks:

11,296,249

+2,945

Silver Warehouse Stocks:

111,151,324

+104,736

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)

SPDR® Gold Shares

1294.796

41,628,978

US$66,718m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

115.35

3,708,632

US$5,868m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

126.23

4,058,350

US$6,432m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

473,131

US$720m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

41.00

1,318,316

US$2,252m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,944

US$8m

Note: No change in Total Tonnes from yesterday’s data.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 172.06: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,769.12: No change from yesterday’s data.

 

The Miners:

 

Lake Shore’s (LSG) option agreement, NovaGold’s (NG) drill results, ITH’s (THM) acquired mining claims, Freeport’s (FCX) resolved labor issues, and U.S. Silver’s (USA.V) update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Vista Gold

VGZ +7.67% $3.37

2.  Paramount

PZG +2.14% $2.39

3.  Buenaventura

BVN+1.61% $37.81

 

LOSERS

1.  Banro

BAA-11.38% $2.88

2.  Almaden

AAU -8.56% $2.03

3.  Timmins

TGD -8.21% $1.79

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

       

All of today's gold and silver stock news:

Victory Ventures Signs LOI to Option Copau Claims, BC - More
- December 14, 2011 | Item | ShareThis


Granite Creek Reports on Its Annual General Meeting - More
- December 14, 2011 | Item | ShareThis


Lake Shore Gold Signs Formal Agreement for Option on Company's Mexican Exploration Properties - "Lake Shore Gold Corp. (TSX: LSG.TO - News)(AMEX: LSG.TO - News) ("Lake Shore Gold" or the "Company") today announced that it has signed a formal option agreement with Revolution Resources Corp. (TSX: RV.TO - News) ("Revolution") through which Revolution may acquire up to 100% of the Company's four Mexican property positions, including the Universo, Montana de Oro, Lluvia de Oro and La Bufa properties. As a result of signing the formal agreement, Revolution will issue to Lake Shore Gold common shares representing a 9.9% equity interest in Revolution. Included in the terms of the agreement are requirements that will allow Revolution to acquire a 60% interest in the Company's Mexican properties as well as additional requirements through which Revolution can acquire a 100% interest in some or all of the properties. A review of these requirements and other terms of the agreement are provided in the Company's press release, entitled Lake Shore Gold Enters into Letter Agreement for Option on Company's Mexican Exploration Asset Portfolio, dated September 15, 2011." More
- December 14, 2011 | Item | ShareThis


Excalibur Announces Gold and Silver Assays From Cariboo Property - More
- December 14, 2011 | Item | ShareThis


Revolution Signs Formal Agreement with Lake Shore Gold for Mexican Property Portfolio - More
- December 14, 2011 | Item | ShareThis


SAMEX Steps Up Pace of Exploration at Los Zorros, Chile - More
- December 14, 2011 | Item | ShareThis


Trevali Receives Mining Lease for Halfmile Mine - More
- December 14, 2011 | Item | ShareThis


Southern Arc Engages SRK Consulting to Complete Technical Report for West Lombok Project - More
- December 14, 2011 | Item | ShareThis


Salmon River Closes Initial Tranche of Private Placement Raising C$1,440,000 - More
- December 14, 2011 | Item | ShareThis


Grizzly Completes 2nd Potash Test Well near Medicine Hat, Alberta - More
- December 14, 2011 | Item | ShareThis


Marifil Receives Toruel Update - More
- December 14, 2011 | Item | ShareThis


North American Nickel Announces Results from Post Creek-Halcyon Drill Program, Sudbury, Ontario - More
- December 14, 2011 | Item | ShareThis


Netco Silver Provides Exploration Update on the Toruel Project - More
- December 14, 2011 | Item | ShareThis


Osisko Comments on Trading of Common Shares - More
- December 14, 2011 | Item | ShareThis


Creso Announces 181.2 g/t Ag Over 28.75 Metres Intersection Including 978.5 g/t Ag Over 5.15 Metres Intercept in Additional Results - More
- December 14, 2011 | Item | ShareThis


MAX completes Phase II drill program Majuba Hill copper/silver project in Nevada; additional soil sampling completed at newly discovered DeSoto zone - More
- December 14, 2011 | Item | ShareThis


St. Georges Platinum & Base Metals Ltd. Joins OTCQX - More
- December 14, 2011 | Item | ShareThis


Cresval Reports Results from 2011 Drill Program on Bridge River Project - More
- December 14, 2011 | Item | ShareThis


Silvore Fox Minerals Corp. Announces Extension to Letter of Intent Regarding Chile Acquisition - More
- December 14, 2011 | Item | ShareThis


Robex Resources Inc./Update on Metallurgical Testwork on Nampala Ore: Significant Reduction in Cyanidation Time - More
- December 14, 2011 | Item | ShareThis


Silvore Fox Minerals Corp. Announces Extension to Letter of Intent Regarding Chile Acquisition - More
- December 14, 2011 | Item | ShareThis


Robex Resources Inc./Update on Metallurgical Testwork on Nampala Ore: Significant Reduction in Cyanidation Time - More
- December 14, 2011 | Item | ShareThis


Silver Falcon Mining, Inc. (SFMI) Moves Forward With Sinker Tunnel Exploration Program and Provides Other Operational Updates - More
- December 14, 2011 | Item | ShareThis


Carbon2Green Corporation: Private Placement Concurrent to the Change of Business - More
- December 14, 2011 | Item | ShareThis


Stellar Pacific Ventures Inc.: Private Placement of $750,000 - More
- December 14, 2011 | Item | ShareThis


Strait Gold Extends December 2010 Unit Private Placement Warrants for 3 Months - More
- December 14, 2011 | Item | ShareThis


PolyMet Corporate and Project Update; Third Quarter Fiscal 2012 Results - More
- December 14, 2011 | Item | ShareThis


Gold-Ore Reports 2011 Year-End and Fourth Quarter Production Results - Record Monthly Gold Production in November - More
- December 14, 2011 | Item | ShareThis


Fire River Gold Corp. Resumes Full Operations at Nixon Fork Mine - More
- December 14, 2011 | Item | ShareThis


Unity Identifies "Thorium Zone" at Thorburn Lake Project, Athabasca Basin - More
- December 14, 2011 | Item | ShareThis


El Tigre Silver Reports Final Silver and Gold Assays and Progress Report on Its Tailings Project in Sonora, Mexico - More
- December 14, 2011 | Item | ShareThis


Metals Creek Resources Corp. Discovers Two New Gold Zones at Jackson's Arm, Newfoundland - More
- December 14, 2011 | Item | ShareThis


Teryl Resources Corp. Disposition of 20% Interest in the Gil Property Approved by Shareholders at EGM - More
- December 14, 2011 | Item | ShareThis


AuRo Resources Appoints Two Directors to the Board - More
- December 14, 2011 | Item | ShareThis


Final Closing Date Set for Acquisition of 70% Indirect Interest in Mrima Hill Niobium and Rare Earth Project - More
- December 14, 2011 | Item | ShareThis


Mining License Application for Mrima Hill Submitted and Current Special Prospecting License Extended for Three Years - More
- December 14, 2011 | Item | ShareThis


Sasco Partners, LP Amends Previously Filed Early Warning Report - More
- December 14, 2011 | Item | ShareThis


Iberian Minerals Signs New Collective Agreement at Condestable Mine - More
- December 14, 2011 | Item | ShareThis


Focus Gold Corp. Extends Option Start Date With Victoria Gold Corp. on Timmins Gold Properties; as Well as Announces Non-Brokered Flow-Through Private Placement - More
- December 14, 2011 | Item | ShareThis


Indigo Announces New Interim CEO and Interim President Following the Resignation of R. Tim Henneberry - More
- December 14, 2011 | Item | ShareThis


Gold Canyon Announces Completed Results of Gold Assays From Its 2011 Resource Drill Program at the Springpole Gold Project - More
- December 14, 2011 | Item | ShareThis


Lumina Intersects 580 Meters Grading 1.10% Copper Equivalent Including 78 Meters Grading 1.89% Copper Equivalent at its Taca Taca Copper-Gold-Molybdenum Project - More
- December 14, 2011 | Item | ShareThis


BCGold Corp. Reports Bulk Sample Concentrate Grades up to 6,485.8 g/t Gold (189.2 Oz/Ton) from Engineer Gold Mine - More
- December 14, 2011 | Item | ShareThis


Altius Minerals Corporation (TSX: ALS) Reports Second Quarter Net Loss of $2,868,000 - More
- December 14, 2011 | Item | ShareThis


Western Lithium Pre-Feasibility Study Indicates $550 Million NPV and Supports Low Cost Lithium Production in Nevada - More
- December 14, 2011 | Item | ShareThis


Fission Energy Corp.: PLS Property Trenching Yields Boulder Assays as High as 31.4% U3O8 - More
- December 14, 2011 | Item | ShareThis


Uranium boulder field yields up to 31.4% U3O8 at Patterson Lake South JV, Saskatchewan - More
- December 14, 2011 | Item | ShareThis


Step-Out Drilling Continues to Encounter Wide Intersections of Gold Mineralization Outside the Historical Resource Boundary at Mountain Lake’s Glover Island - More
- December 14, 2011 | Item | ShareThis


AXMIN Sells Remaining Interest in Sierra Leone Joint Venture to Polo Resources Limited for US$9 Million - More
- December 14, 2011 | Item | ShareThis


Largo Resources Announces First Commercial Shipment From Currais Novos Tungsten Project - More
- December 14, 2011 | Item | ShareThis


Continental Nickel Extends Sleeping Giant Zone at Ntaka Hill Project, Tanzania - More
- December 14, 2011 | Item | ShareThis


Batero Gold Announces Appointment of Dr. Darryl Lindsay to Senior Vice President and Director - More
- December 14, 2011 | Item | ShareThis


First Nickel Announces Organizational Changes - More
- December 14, 2011 | Item | ShareThis


Augyva is Pleased to Announce Duncan Lake Iron Ore Project - 2011 Phase II Interim Drill Results - More
- December 14, 2011 | Item | ShareThis


Sage Intersects 4.6 Metres of 14.53 g/t Au (Cut) at Clavos - More
- December 14, 2011 | Item | ShareThis


Romios Intersects 7.87% Cu, 2.17 g/t Au, 40.39 g/t Ag Over 2.15 m Within 17.7 m Averaging 1.06% Cu, 0.34 g/t Au & 5.51 g/t Ag at Its Trek Property - More
- December 14, 2011 | Item | ShareThis


Crocodile Gold Responds to Luxor Press Release - More
- December 14, 2011 | Item | ShareThis


Treasury Metals Announces New Management Positions to Further Advance Goliath Gold Project - More
- December 14, 2011 | Item | ShareThis


Encore Renaissance Announces Company Re-Organization - More
- December 14, 2011 | Item | ShareThis


Centamin Egypt Limited Results of Scheme Meeting and Extraordinary General Meeting - More
- December 14, 2011 | Item | ShareThis


U.S. Silver Provides Update - “Operational consistency and favourable commodity prices have provided U.S. Silver with improved financial strength and the ability to pursue the ongoing transition of the Company” stated Gordon Pridham, U.S. Silver’s Executive Chairman. “The Company’s 2011 exploration program continues to provide encouraging results and surface and underground drilling will be significantly expanded in 2012, providing even greater potential for reserve expansion. We are confident that our large land position in this prolific region will continue to provide additional reserves for years to come as we explore more aggressively. Our new website and our stock exchange listing strategy are aimed at improving our communication and exposure to the investment community as we develop the Company”. More
- December 14, 2011 | Item | ShareThis


NovaGold's Drilling in Ambler District Continues to Yield High-Grade Intersections at Bornite Deposit - "NovaGold Resources Inc. (TSX: NG.TO - News)(AMEX: NG.TO - News) ("NovaGold" or the "Company") is pleased to announce significant new drill results from additional exploration drilling on the Bornite target located on the recently consolidated 180,000-hectare Upper Kobuk Mineral Project located in the Ambler mining district of Northwest Alaska. These results complement major intersections achieved in the initial phase of drilling at Bornite." More
- December 14, 2011 | Item | ShareThis


International Tower Hill Mines Acquires Mining Claims Near Livengood Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX: ITH.TO - News)(AMEX: THM - News)(Frankfurt: IW9) announces that its wholly-owned subsidiary, Tower Hill Mines, Inc., has completed transactions to acquire certain mining claims and related rights (the "Assets") in the vicinity of the Company's Livengood Project located near Fairbanks, Alaska. The Assets, which were purchased for aggregate consideration of US $24.5 million in cash (the "Acquisitions"), relate to land that was previously vacant or was used for placer gold mining. The Acquisitions enable the Company to pursue additional site facility locations and to investigate other land use opportunities including the potential for placer gold extraction in the near-term." More
- December 14, 2011 | Item | ShareThis


Freeport-McMoRan Copper & Gold Inc. Announces Successful Resolution of PT-FI Labor Issues and Updates Status of PT-FI Operations - "Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX - News) reported today that PT Freeport Indonesia (PT-FI) has reached terms with union officials to be incorporated in a two year extension of its Collective Labor Agreement. The labor strike, which commenced on September 15, 2011, has ended and workers will begin reporting to their positions in the coming days." More
- December 14, 2011 | Item | ShareThis


Freeport Indonesia workers to return to work Sat: union - "Striking workers at Freeport Indonesia will return to work on Saturday after agreeing to a pay deal to end a three-month dispute that has paralyzed output at the world's second-biggest copper mine, a union official said on Wednesday." More
- December 14, 2011 | Item | ShareThis


France's Nuclear Giant's Areva Stock Meltdown - More
- December 14, 2011 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

 

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Additional Resources for today’s Gold Seeker Report can be found:

© Gold Seeker 2011

Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given.

 

 

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. Gold-Seeker.com has 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 Gold-Seeker.com’s 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.  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 Wednesday, 14 December 2011 | Digg This Article | Source: GoldSeek.com

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