Latest on GLD and Kitco
posted on
Oct 22, 2008 07:20PM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
The latest on the SPDR Gold Shares ETF indicates that they hit two milestones today as outlined in the article below. What is noteworthy is that for the first time the recent and major takedown carried out by the gold cartel has not resulted in investors relinquishing their holdings. Either these investors cannot be fooled any longer or they smell cartel blood this time around.
Also, Kitco has recently posted the following note on their products page:
The following products have been temporarily removed from our Precious Metal Store until further notice due to production and delivery delays that retailers are currently facing; Gold Eagle 1 oz, Gold Maple 1 oz, Special Gold Maple 5 X 9 pure 1 oz, Gold Buffalo 1 oz, Gold Krugerrand 1 oz, Gold Bar 10 oz, Gold Bar 1 oz, Kitco Gold Bar 1 oz, Kitco ChipGold 10 g, Kitco ChipGold 20 g Gold Philharmonic 1 oz, Silver Philharmonic 1 oz, Silver Eagle 1 oz, Silver Maple 1 oz, Silver Bar 100 oz, Platinum Eagle 1 oz, Palladium Maple 1 oz, Silver Maple Olympic Coin 1 oz.
These products will be relisted and available for order as soon as fresh inventory is readily available. In the interim, we will focus on completing pending orders as our top priority.
Please note that all remaining products listed in our Precious Metal Store are available for delivery including 1000 oz Silver bars.
Rumour has it that Jon Jon is ordering his creative writing team to come up with a "rogue" salesman excuse to explain the situation in one of his upcoming articles.
Time to loosen the tie JJ - VHF
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One Dollar Per Tonne at the Gold ETF
Tim Iacono
October 22, 2008
The SPDR Gold Shares ETF (NYSE:Arca:GLD) reached a milestone of sorts today as shown below. For every dollar of the gold price there is now one tonne of gold in the trust.
As might be expected, this has much more to do with the price of gold than with changes to the inventory, at least at first glance.
After the "tonnes in the trust" made new highs over the last month as the price of gold was surging, passing the Bank of Japan as the world's lucky number 7 holder of the yellow metal in the process, there has been precious little selling despite the gold price dropping more than $150 as shown below.
That's kind of odd when you think about it, particularly in light of what's been going on in the stock market lately where stock mutual fund redemptions in retirement plans are being credited with accelerating the decline in equity markets.
For gold, the price goes down, but investors don't sell.