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rffrydr
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 Posted: Wed May 16, 2012 3:10 pm Post subject: |
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I doubt china and india CBs are buying so much anymore. Their jewelry makers certainly won't. Making out like bandits on treasuries they'll probably be on the prowl for assets now.
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HenryTo
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| Posted: Tue May 15, 2012 9:22 pm Post subject: |
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| Gold's 50 EMA crosses below its 200 EMA. Again, near-term support is $1,500 an ounce. |
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HenryTo
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rffrydr
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| Posted: Thu May 10, 2012 11:05 pm Post subject: |
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There was an interviewee on the Bloomie today who remarked that a long-term commodity long is a bet against human ingenuity--for all of the same are aligned maybe not against, but aside of you.
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HenryTo
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HenryTo
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rffrydr
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| Posted: Mon May 07, 2012 2:00 pm Post subject: |
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In other words: a barbarous relic:
http://www.cnbc.com/id/47298734
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HenryTo
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| Posted: Sun Apr 29, 2012 6:08 pm Post subject: |
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Morningstar on NEM's gold and copper production targets in 2012.
| Quote: | | Newmont Mining NEM is on track to meet previous expectations for gold and copper production volume and operating costs in 2012. Based on the midpoint of company guidance, investors can expect a 2% reduction in attributable gold production and an 11% increase in unit costs. Newmont is facing lower production and higher costs this year and has been relying on a handful of large mine development projects to improve the production outlook. One of these projects, Akyem in Ghana, is on track but the fate of Conga is more u ncertain. The Conga project in Peru has the potential to start producing 633,000 ounces of gold and nearly 200 million pounds of copper at unit costs of $425 per ounce and $1.50 per pound, respectively, in a few years. Capital costs would amount to more than $4.5 billion. Local opposition to the mine has increased over the past year. While the government (under the previous president, Alan Garcia) had originally approved the mine plan, President Ollanta Humala asked for an independent audit of Conga's environmental impact to help mitigate protesters' concerns. The independent panel recently released its findings, calling for more capital investment to ensure protection of the water supplies surrounding Conga. We await specifics from Newmont on exact changes to the capital cost estimate, operating cost projections, and any impact on production volume at Conga. Construction has been suspended since November 2011. We'll update our model with a guesstimate of cost inflation and delays at Conga, but we don't expect this to have a big impact on our fair value estimate, given the already large capital cost of the project. |
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HenryTo
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HenryTo
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rffrydr
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| Posted: Thu Mar 15, 2012 8:27 am Post subject: |
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Gold as carry: now there's a (TMM) thought.
| Quote: | | Short Gold through options. The hunt for the next funding currency is on as the USD loses its obviousness. JPY? Well, so obvious everyone is chasing tails and 85.00, but this is SO predicted it's probably NOT going to get there. CHF? Yes, Yes, Yes. And a nice floor too. But we have that already. So what about that funding currency of the late 1990s? The one that Ex-Investment banks, when they apparently DID have morals and work in the customer's interest, kindly persuaded the UK Treasury to participate in. GOLD! As gold goes down fast, up slower and as vols are still low, we are going to look at 2-month low delta puts. This trade is perfectly set up to be reverse Midas. |
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rffrydr
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| Posted: Fri Mar 09, 2012 5:39 pm Post subject: |
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The bugs never stop; or, there's always a bull market somewhere (or by some definition):
http://video.cnbc.com/gallery/?video=3000077817
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HenryTo
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rffrydr
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| Posted: Fri Jan 13, 2012 10:50 am Post subject: |
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| rffrydr wrote: | Don't know what's holding this puppy up (actually I do); a two-tiered europe is gonna lead to some kind of disgorge. Worth a shot on way OTM puts.
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-- Nov 9
The central banks never became a factor (BBubba took a hard line on this one too) but euro banks....yeah, oh yeah:
http://ftalphaville.ft.com/blog/2012/01/13/831971/goldman-on-metal-pawning/
In the context of aisian buying at the same time this amounted to the very "gold bond" however I was crying about. And it's the strength of the bull that we didn't take another $100-250 out of the price. Still, don't see $2000 again any time soon--indeed not for a long long time without CBs going hogwild.
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rffrydr
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| Posted: Thu Dec 29, 2011 9:06 am Post subject: |
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EEM doesn't have so much to "protect" at this point--and we're beginning to see the horizon again 
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