Headline - Comex Raises Margin Requirements Again
Well it really is a roller coaster of a ride. The market didn't buy Bernake's story. We were waiting for the S%P to establish support at 1130. It held 1130 for a while then broke through support. It now stands at 1120.
The money flocked into Gold again yesterday and we liquidated our GLD posion for a 117% gain on the expectation of further interference by the US to move money back into the Dollar and the US markets. We are happy to add to our Phyiscal metal position but are cutting down on leveraged positions with time value.
The news of the French banks getting downgraded aso drove money from the Eurozone into Gold taking Gold to a high of $1815 an ounce. News just out in the last few minutes that the downgrade has been reversed they will do anything to save their currencies. Gold is up on the news.
If any Government officials or bankers are reading this Asians see through this manipulation. The Chinese ratings agency Dagong downgraded US bonds yesterday once again to A+.
In a last ditched attempt by the US last night to drive money out of Gold the Comex announced they would raise the margin requirements for Gold & Silver by 22%. Soon you will need to pay full price to trade Gold & Silver on the Comex and there will be no Physical metal left.
Tyler Durden of Zero Hedge confirms my sentiments exactly we were all expecting the Comex to do this. It barely effected the Gold price when the news was released. The only way for the US to bring down the price now is to print money and short once more.
The German newspaper Der Bild the 6th most circulated newspaper in the world ran a front page article encouraging people to buy Gold today.
I have been stating that the 3rd phase of the Gold bull market starts at $1764. We are there now. This phase is characterized by strong sharp deep short corrections in price followed by exponential moves.
I am advising clients to cut down on trading and leveraged positions and please start the move into buying Physical metal.
We do have strategies that allow you to safely capitalize on this phase of the bull market but anything alternative to Physical is risk capital. I strongly advise no spread betting, margin excess leverage or naked options.
Open A Physical Gold Account today.
Stocks
There are some Gold & Silver stocks that got taken down along with the overall market that we will be purchasing for clients and recommending to premium subscribers in the coming days.
The market failed to give us any buy signals yesterday so we will keep an eye out today for any bargains triggering buy signals. Invest along side us if you like.
Purchase Physical Gold & Silver Bullion at anywhere near todays prices. Buy on the dips or subscribe to our newsletter and learn how to invest in Stocks & Commodities.
$1764 Gold is here now. Everything changes. Desperation will become more apparent on behalf of Governments & Financial Institutions.
Investing in Gold & Silver is the easiest way I know to generate consistent high returns in this current market.
The only AAA+ investments are the ones you have Physical possession of. Be they Agriculture, Land, Real Estate, Gold, Silver, Copper, Diamonds. Time will prove this true.
Our Portfolio holdings for Gold are currently up 56%. Our Silver holdings are up 168% so far.
Open A Physical Gold Account today
Become your own central bank. Purchase Physical Gold & Silver & store it somewhere safe. Use a portion of your assets to invest in higher yielding investments such as the ones we talk about in our newsletter.
The accumulation of precious metals has to be the most sound financial decision anyone could make.
In fact not owning Gold & Silver right now is a form of Insanity.
Open A Physical Gold Account today.
Best,
Robert McManus
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Well it's been a roller coaster of a week. The market did not buy Mr. Bernake's lies.
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