hello pezz, today's report:
(i) just in in-tray from pal, front the gold front line that is hk's hang seng bank hq, main distributor of all sorts of bullion products
First, the 2010 kangaroos are out and in good supy. Other coins plentiful to sell. There are lots of buyers...who often come for 20 coin lots. But since gold around 1000, quite a few sellers w bags of 100-200 coins have come out...making the overall selling level greater than the buying...
... to which i responded
the folks who buy 20s at a time are regular buyers, month after month, every month, i wager
wastrels who sell 200 at a time will not last long, and will stand ready to buy less for more, as always
for they cannot buy expensive unless they first sell cheap
bullish
(ii) in the mean time, during the course of the day, gold went up 0.8% (peak price 1019, close at 1015, both dirt cheap), which means the dollar went down, and all that is valued in dollars (meaning balance sheets and income statements), unless price moved up, automatically devalued relative to gold
(iii) i am figuring that by the time the 'most-est' finally gets it, the meaning of GUDD, it would be too late for the most-est.
(iv) have numerous n.american fund managers in town acquiring physical in tranche strength, and they openly admit that they had been humbled last year, even as they walk tall once again this year and swagger almost as wide, but want to have some portfolio ballast to make sure that when it all goes to basket, some goodness remains
cheers, tj |
