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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (66800)	10/3/2010 11:53:34 PM
From: TobagoJack	Respond to of 217750

just in in-tray The demand for storage comes as investors are buying physical gold rather than investing in precious metals futures or mining equities. Private investors hold about 30,000 tonnes of gold, according to the consultancy GFMS – more than a sixth of the world’s gold and, for the first time in modern history, more than central banks. ft.com JPMorgan reopens New York gold vault By Jack Farchy in London Published: October 3 2010 21:04 \| Last updated: October 3 2010 21:04 JPMorgan has reopened an underground gold vault in New York that was mothballed in the 1990s, in the latest sign of the soaring appetite for bullion. Investors are piling money into gold in record quantities, pushing the price on Friday to a record nominal high of more than $1,320 a troy ounce. That has made the vaulting business highly lucrative, since banks often charge a small percentage of the value of the gold stored. Many commercial banks dismantled their vaults in the 1980s and 1990s. But now they are rushing to build: JPMorgan recently built a vault in Singapore, while Deutsche Bank and Barclays Capital are considering opening new vaults in London. The demand for storage comes as investors are buying physical gold rather than investing in precious metals futures or mining equities. Private investors hold about 30,000 tonnes of gold, according to the consultancy GFMS – more than a sixth of the world’s gold and, for the first time in modern history, more than central banks. The vault reopened by JPMorgan last month joins a handful of others in Manhattan, including those owned by HSBC and the Bank of Nova Scotia, and the largest gold depository, the Federal Reserve Bank of New York’s facility, which holds reserves from 36 countries. The surge in demand for physical gold has been underpinned by the emergence of exchange-traded funds that are backed by bullion. JPMorgan keeps the gold of BlackRock’s iShares Gold Trust, which holds almost 100 tonnes of bullion, worth $4.2bn. “There is growing interest from ETFs and other fund institutions as well as from corporates and high net worth individuals to store precious metals,” said Peter Smith, head of JPMorgan’s vaulting service. Many historic vaults cannot be reopened as they have been converted into restaurants: one New York vault built in 1902 for John Pierpont Morgan is now home to a steakhouse.

To: carranza2 who wrote (66800)	10/4/2010 12:13:45 AM
From: TobagoJack	Read Replies (3) \| Respond to of 217750

in- / out-tray player tj (Thu, Sep 30, 2010 at 2:18 AM): It may be difficult to get a meaningful correction as the pressure on gold may be greater than usual in the leadup to usa mid-term as well as possible china policy inflection once the factories gets cranking mid-october onward I am of two minds, wishing to capture full gain and then get back in cheaper. God has other plans, doubtless player 2 (Mon, 4 Oct 2010 00:54:46): technically, all time highs by definition no longer face meaningful resistance, so one has to adjust the consensus data for that fact. i'm only saying that a correction would likely be healthier than an unimpeded run-up, but that doesn't mean one will occur in the near term. player tj (Mon, Oct 4, 2010 at 1:03 AM): China may not care about technicals; otoh china may play along with gold drubbing at the get go. player 1 (now): it could become a run-away move....that is always possible when something reaches new highs, and actually - this week's CoT report looks bullish to me (new gross longs by commercials,and small specs increased net short - i.e. they added more shorts than longs)