Wednesday, December 29, 2010
Class action against Morgan, HSBC specifies silver manipulation mechanism
From GATA.org:Submitted by cpowell on Tue, 2010-12-28 06:31. Section: Daily Dispatches
A Chicago law firm yesterday announced another class-action lawsuit against J.P. Morgan Chase & Co. and HSBC Holdings PLC complaining of silver market manipulation. Interestingly, the lawsuit cites GATA's silver market manipulation whistleblower Andrew Maguire and U.S. Commodity Futures Trading Commission member Bart Chilton, and specifies mechanisms by which Morgan and HSBC could manipulate the silver market through the use of silver exchange-traded funds.....read on
The Festive season is over - Gold and Silver continue their relentless climb higher
Gold has sailed back above the $1400 level and silver has smashed its manipulated price ceiling of $30/oz. Trade was no doubt thin given the time of year, if these price levels hold into the first few weeks of 2011 then they may become the new price floors.
Thai tourism recovers
In the wake of the GFC and the isolated street clashes in Bangkok Thailand's tourism industry has largely recovered. The deck chairs on Pattaya's beaches are covered in fat Germans and their towels and the water slide parks are full of boisterous Russians and their families. No doubt they are able to travel as both countries still have functioning economies, plus both are escaping a nasty bit of global warming at the moment.
Celtic tomb hailed as great archaeological find
Gold again stands the test of time as mans greatest treasure.....From thelocal.de:
In a discovery described as a “milestone of archaeology,” scientists have found a 2,600-year-old aristocratic burial site at the Celtic hill fort at Heuneburg in Baden-Württemberg.
The noblewoman's tomb, dating from early Celtic times, measures four metres by five metres, and is exceptionally well-preserved. It contained gold and amber jewellery that makes possible for the first time the precise dating of an early Celtic grave.....read on
Tuesday, December 28, 2010
Rob Arnott interviewed on King World News
Rob Arnott interviewed by Eric King of King World News on the US economic recovery in 2011 and investing in inflation hedges (such as gold & silver)......listen here
OMG - Silver mentioned in the Wall St Journal
By CAROLYN CUI And ROBERT GUY MATTHEWSBIG CREEK, Idaho—An unexpected surge in investor demand is sending silver prices soaring—and speculators and mining companies are digging in.
In the past four months, the metal has upended forecasts, rising 51% to a series of 30-year highs, before inflation. Silver closed Thursday at $29.31 a troy ounce, up from $16.822 at the beginning of 2010.
Among the four major precious metals—the others being gold, platinum and palladium—silver is up 74% this year, on track to be the second-best performing commodity after palladium, which is up 86%. Gold, by contrast, is up 26% and copper just under 28%.......read on