Market Sentiment shifting

Big day Friday, the HUI went over 190, confirming that gold stocks were only consolidating and there would not be a correction

Jim Rickards video on his book. "The new case for Gold"

Nice interview with Gwen Preston

You have to give India credit for trying
India on Friday tweaked its gold monetisation scheme to allow repayments in gold for medium- and long-term deposits, making the plan more attractive for temples that are sitting on thousands of tonnes of the metal.

The Sri Venkateswara Swamy Temple or Tirupati, the world's richest Hindu temple whose participation is crucial to the success of mobilising India's idle gold, had requested repayment of deposits held for more than three years in the yellow metal.

The government will charge a fee of 0.2 percent on the value of gold redemptions but the interest will be paid in cash, the country's central bank said in a statement.

www.reuters.com/article/india-gold-idUSL3N1744GO

Central Banks keep buying gold - with net purchases of gold reaching 483 tonnes in 2015, the second highest annual total since the end of the gold standard.

Who wants them paper dollars, yen or euros at 0% anyway

www.ft.com/intl/cms/s/68d0b646-f72c-11e5...er-app#axzz44j8HU3Xp

This is a laugh - India's finance minister can't even pursuade his own wife to paperize her gold

The country's finance minister announced a scheme to monetise the gold holdings of India's families, but the finance minister back at home, the housewife, is having none of it.

This came through clearly at a recent meeting between economic affairs secretary Shaktikanta Das and representatives from the Reserve Bank of India, temple trusts, and other bodies to discuss ways to make the scheme more attractive.

"I am not even able to convince my wife to part with her jewellery, which she hardly uses," one official reportedly said at the meeting, raising laughter.

www.hindustantimes.com/business/gold-mon...XcWFqrmxmf7YsGL.html

They just can't stop that India gold buying around 1,000 tons/year now,

According to Economist

The government hopes it will gather 50 tonnes of gold through its bond scheme—a modest target given the country’s 20,000-tonne pile. Yet four months in only three tonnes have been gathered.

www.economist.com/news/finance-and-econo...ain-tarnished-appeal

Chinese gold demand continues strong after their festive season

"It has been very, very busy for us in the last few weeks," said Padraig J. Seif, chief executive officer at Finemetal Asia Ltd., a large Hong Kong-based bullion dealer that sold more gold in the first three weeks of March than in all of February.

The biggest jump, Mr. Seif says, has been the 10-fold increase in sales of 250-gram bars, which cost roughly US$10,000. Sales of the 1,000-gram kilobars were up by 50%, with most of the buyers corporate investors rather than jewelry makers. ...

www.wsj.com/articles/chinese-investors-s...y-in-gold-1459160948

Richards book, cant seem to get video to load, but here is link
content.jwplatform.com/previews/at69uMED-jpm2kCrG

This is well worth the read, some great tidbits Richards touting his new book, "The New Case for Gold"

www.theepochtimes.com/n3/2001426-book-re...e-new-case-for-gold/

Quote from article
""Rickards is a good investor and portfolio manager because he also takes into account what would happen if he was wrong.

If gold drops 20 percent on a 10 percent allocation, you lose 2 percent of your investable assets and most likely the world will be fine: Stocks and bonds will do well, you will have your job and your business will do well.

However, if the complex system that is the world financial system indeed fails and needs to be reformed, Rickards thinks gold will go to $10,000, maybe even $50,000. And the gold allocation should make up for potential losses of other assets in your portfolio.""

Dave Skarica on new Gold Bull market

Note late last October, we see the Commercials at high short levels and Managed money at high long levels, normally where we see the Commercials take the market down to cause managed money to sell at a loss. It has become known as the wash and rinse cycle because they do the same thing over and over. I only wonder how low they will take it down to kill the managed money?