Market Sentiment shifting

Wow!!!! what a slam on the euro and IMF by it's own watchdog bet this gets buried in a hurry

International Monetary Fund’s top staff misled their own board, made a series of calamitous misjudgments in Greece, became euphoric cheerleaders for the euro project, ignored warning signs of impending crisis, and collectively failed to grasp an elemental concept of currency theory.

It describes a “culture of complacency”, prone to “superficial and mechanistic” analysis, and traces a shocking break-down in the governance of the IMF

The three main bail-outs for Greece, Portugal, and Ireland were unprecedented in scale and character. The trio were each allowed to borrow over 2,000 percent of their allocated quota – more than three times the normal limit – and accounted for 80pc of all lending by the Fund between 2011 and 2014.

In an astonishing admission, the report said its own investigators were unable to obtain key records or penetrate the activities of secretive "ad-hoc task forces". Mrs Lagarde herself is not accused of obstruction.

“Many documents were prepared outside the regular established channels; written documentation on some sensitive matters could not be located. The IEO in some instances has not been able to determine who made certain decisions or what information was available, nor has it been able to assess the relative roles of management and staff," it said.

Wow this is such a damming report, read it now before it vanishes

www.telegraph.co.uk/business/2016/07/28/...pologises-for-the-i/

Looks like they don't want to sell any period, even with the rising price.
"Despite prices surging ahead and a liquidity crisis being reported, we have not seen Indians selling household gold. Last year, when it touched Rs 29,000, we had seen people offloading old gold. But this year we are not seeing that trend though price is around Rs 31,500-31,800," said Jitendra Jain of Mumbai-based scrap dealing firm Jugrag Kantilal.

economictimes.indiatimes.com/markets/com...cleshow/53371183.cms

Not many fools in India. Government today said it has netted 3.1 tonnes of idle household and temple gold under the monetization scheme since its launch in November 2015.

"As of now 3.1 tonnes of gold have been deposited under the Gold Monetization Scheme," the joint secretary in the Finance Ministry, Saurabh Garg, said.

This is much lower than 800-1,000 tonnes of annual gold imports, he said, adding that estimates say 300 tonnes are for investments, while the balance is jewellery.

Another positive sign, sounds like investors put $2 billion into gold last few months

www.reuters.com/article/us-investment-mu...uters+Wealth+News%29

Gold is up tonite, currently about $1370. I think another one of the big drivers is the huge drop in interest rates. This is a long term chart of the US 30 year bond, has gone to record highs in 2016. The Feds bluff on rate hikes has been called big time

Just listened to this audio at Kingworld about Brexit. No wonder Gold demand soaring in London, Stephen Leeb. He comments that when Boris Johnson stepped down it just added to the Brexit fears

kingworldnews.com/dr-stephen-leeb-7-3-16/

Sounds like Gold demand i soaring in London. Gold dealers in London reported surging demand for coins and bars on Friday, with some saying stocks were tight, after a shock vote for Britain to leave the European Union sent financial markets into meltdown and drove the pound lower.

www.reuters.com/article/britain-eu-gold-retail-idUSL8N19G463

KIngworld news will have lots of stories this weekend. I love this one!!!!!!!!

Banks Had Largest Gold Short Positions In History Heading Into Brexit As “Leave” Vote Sent Gold Skyrocketing

Burn baby burn
kingworldnews.com/banks-had-highest-gold...ositions-in-history/

They managed a little down move at Comex open to about $1318 and now we edging higher again. Comex gold inventories have increased last couple weeks. Is it just a big bluff or maybe somebody is going to take delivery??

www.24hgold.com/english/interactive_char...ERED&etfcodecom=GOLD

Gold reacted and shot up over $100, hitting $1362, currently around $1325.

The big question, now - Will the large commercial short position get over run? Remember these bulloin banks are the same ones that are probably also part of the plunge protection team and they weill have their hands full trying to keep the markets glued together today, they may lose control??

I see they had Gold back down by the Comex open, I guess that had to make sure Yellen's hand looked good for her testimony today. But to mee looked like another bad flop, More dovish jibberish
www.yahoo.com/news/yellen-says-uncertain...40034486.html?ref=gs

There was also an article at Kingworld news about the big short positions in early May so it is still persisting. Maybe they go for a takedown on the Holiday weekend, July 4th, not that far away

kingworldnews.com/commercial-short-posit...-at-all-time-record/