El Primero......

Maybe, this time around the stock sell off is noted but not as "sudden". I still believe consumption of gold into banking, countries ( Russia, China, India ) and private wealth preservation management accounts for a lot of wealth transfer. Who wants to be holding U.S. debt if interest rates go up 1/2 %...no one!! Demand for gold is very high....and switzerland putting a vote to their people in a month or so...on whether or not they re-standarize the franc to gold. Why vote anyways ? Ahhh isn't that where the wealthy hold their money in Swiss Francs ...picture is clearer now. I wonder if Shania Twain is going to vote ...she never calls....sigh! So, take the stocks you own that are at ridiculous multiples generating questionable dividends and / or dividend growth and convert to gold...sit back, sip , refill your martini glass , repeat....!

You'll notice the balance sheet on all gold companies carry a lot more "inventory". In fact, I noticed companies like IAM gold and even smaller producers like Lakeshore have significant inventories of Dore on the books. It makes sense to hold back some production ( unless you absolutely need the cash ) and carry the inventory on the books. This seems proportionately higher than when gold was above 1500.

I am not sure how all this storage is related to "absolute refining capacity" ....probably a diffcult question with many answers.........kind of like asking the Saudi's how much oil is in the ground....a lot of clear concise answers that would all be different !

Lot's going on. The stockmarket has been driven to increase dividends therefore driving up their own stock in a lot of cases. It is interesting that profits are split between modest dividend increases and stock buy-back to keep the price buoyant....not a lot of hiring just squeeze profit raise your stock, buy it back so it doesn't get sold off rapidly in the marketplace. Monkey business.

None of this is a worrysome as Ebola. Rapidly spreading in an exponential growth fashion...sad. This is the real worry. Gotta go to fly in only....planes drops supply's off and turnaround. No passengers out. 60 day quarantine zone for workers only 60 days of isolation on the way out. Why, passengers could be infected ...2 days later get on a plane to "somewhere" and have symptoms 8-10 days after arrival......and this is after they have infected others.

Lots of mining in West Africa !!

Captain Time