Market Sentiment shifting

Since the $1340 peak just after election Gold has dropped over $125, it's most violent drop since June 2013. The negative sentiment is at extremes with just 10% Bulls, at the same time the US$ is at the other extreme with 91% Bulls.

Readings above the 90% level are extremely rare for asset classes, and we usually only see a couple of these per year. For example Gold Bulls hit 90% back in 2012.

Gold holding steady pre election. I see polls are now showing Clinton with just 2 or 3 point leads. It is looking a lot like Brexit where the lead was narrow but a surprise vote to leave.

There is probably more disgust in America and this vote could easily swing for Trump and knock another blow to the establishment.

www.reuters.com/article/us-usa-election-poll-idUSKBN12Z009

Saturday, October 29, 2016

SHANGHAI -- Shanghai Gold Exchange and Dubai Gold and Commodities Exchange signed an agreement on Friday in Shanghai that makes the Dubai exchange the first foreign exchange to use the SGE's renminbi-denominated gold benchmark.

The SGE is in talks with other exchanges about similar cooperation, according to an SGE circular.

SGE is the world's largest physical bullion exchange. The renminbi-denominated gold benchmark, also known as Shanghai Gold, was launched in April this year. It is one of China's efforts to earn more say over pricing of the precious metal and increase its influence in the global gold market
www.chinadaily.com.cn/business/2016-10/29/content_27212093.htm

"The laws of economics are more powerful than all the politicians and all the central bankers."

Regarding the presidential race, Paul is not concerned if Trump prevails since he doesn't see a "whole lot of difference between the two parties."

"Nothing really changes no matter who wins. Governments keep growing, deficits keep growing. The Fed keeps printing more money so I don't expect a lot to change."

"I look at what the Fed is doing. History is on my side. When you print money and you have a fiat currency, it all becomes political; deficits are looked at as benefits. Believe me, gold prices will go up."

Ron Paul - he has it right and is who America really needs as President

Thats amazing CBs buying gold stocks.

Gold exports from Switzerland totaled 149 mt in September, down 9 percent from 163 metric tonnes in August, Swiss federal customs data showed Tuesday.

The figure is 5 percent higher than 141 metric tonnes reported a year earlier but is the weakest monthly outflow since March.

Switzerland is the world's largest refiner and exporter of gold and total exports from the country now stand at 1,349 metric tonnes for the year to date, up 4 percent from 1,302 metric tonnes in the same period of 2015.
www.platts.com/latest-news/metals/london...h-to-149-mt-26575819

I have never seen this before. I guess some CBs have not been able to buy enough physical Gold so Switzerland and Norway CBs have bought about $1 billion each in mining shares.

Sounds like they filed with the SEC in September. I was speculating that smart and big money was doing the buying, now we have some prove

smaulgld.com/the-swiss-national-bank-gol...ing-share-portfolio/

www.zerohedge.com/news/2016-09-08/switze...metals-mining-shares

Breaking news - The financial news internet site Market Slant reports today that the federal judge handling the class-action anti-trust lawsuit against the banks that operated the daily London gold price fixing system from 2006 to 2012 has ordered the lawsuit to proceed, denying the defendants' request for dismissal. Market Slant says the judge's decision cites Deutsche Bank's confession to gold market manipulation in collusion with other bullion banks.

www.marketslant.com/articles/exclusive-j...ix-manipulation-case

Yesterday I noticed the early morning volatility in markets and how they all reversed but gold, and that was a bit strange. Now I know why. On a number of occasions I pointed out how gold is manipulated downwards when Chinese physical buying is absent on their holidays.

The Chinese are on holidays all week, so the banksters or shorts hammered markets today with short selling of 1,000 tons of PAPER Gold. Well someof that would have been longs liquidating with stop/loss levels taken out

This is probably the last great buying opportunity of this new gold bull market

*******************************************************************************


The People's Republic of China (PRC) observes its anniversary on 1 October. China's National Day has been celebrated in various ways during the history of the PRC.

In China, the holiday is officially three days, but the holidays are usually extended by bridge holidays compensated by working on weekends depending how the holiday falls in the week. This creates a so-called 'Golden Week' of holidays. This makes it the second largest holiday period in China. This approach was introduced in 2000 to help boost domestic tourism and to allow families to make long journeys to visit relatives.

www.officeholidays.com/countries/china/

www.officeholidays.com/countries/china/national_day.php

This is a must read on the current geopolitical situation going forward and the use of Gold
wealth.goldmoney.com/research/goldmoney-...slope?gmrefcode=gata

Caterpillar, the world's No.1 heavy machinery maker, injected some much-needed optimism in the global mining industry this weekend by saying it is finally seeing growing signs of improvement.

The Peoria, Illinois-based company, which held a special press event before the upcoming MINExpo in Las Vegas, revealed it has had more discussions about potential sales in recent months than in the last two or three years.

www.mining.com/caterpillar-sees-green-sh...&utm_campaign=digest

RNC Minerals (previously Royal Nickel Corp) (TSE:RNX) stock is up 120% this year as the company makes forays into primary gold mines and a resurgent nickel price underpins its operating assets.

The gold focus is reflected in the company’s name change and last week RNC closed on $9.2 million in financing as it ramps up and development of its 100%-owned Beta Hunt gold and mine in Australia, which RNC acquired in May this year.

Well-know mining financier Eric Sprott participated in the equity financing and now owns around 10% of the company worth $98 million on the TSX.

Here is an interesting chart of the value of gold reserves and resources in the ground. Africa leads but we have plenty in North and South America to focus on as investors