- Prison Planet.com - http://www.prisonplanet.com -
Gold: Knock, Knock, Knocking On Record’s Door
Posted By admin On September 6, 2011 @ 3:35 am In Featured Stories,Money Watch,Tile | Comments Disabled
Zero Hedge 
Sept 6, 2011
Update: gold is now at a fresh all time nominal high, with a price equivalent to that fateful year in which the world’s biggest and perfectly legitimate criminal cartel was founded on Jekyll Island some years ago.
When it comes to gold, one can now officially skip the foreplay (because apparently there is such a thing s a 2G spot). Unlike two weeks ago when the latest Shanghai margin hike caused gold to temporarily lose its equilibrium and flop, however briefly, somewhere in the lower 1700s, as of tonight it has valiantly processed, and completely ignored, news from the Shanghai Gold Exchange  that trading margins for the gold forward contract, Au(T+D), will be raised, temporarily starting Sept 9 to 13 percent from 12 percent, while the daily circuit breaker would be lifted to 10 percent from 9 percent, and has proceeded to rise to within nickels of the all time high, with spot trading over $1910 at last check. Since Europe is about to open shortly, and since the free fall in risk will resume now that virtually every rhetorical gimmick has been used and abused ad inf, it appears that absent the CME doing away with margin altogether, we will see $2G spot within hours.
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/gold-knock-knock-knocking-on-records-door.html
URLs in this post:
 Zero Hedge: http://www.zerohedge.com/news/gold-knock-knock-knocking-records-door
 news from the Shanghai Gold Exchange: http://www.sge.sh/publish/sge/jyzn/jysgg/7377.htm
 Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2011/09/Screen%20shot%202011-09-06%20at%2012.20.36%20AM.png
 Despite Preemptive Gold Margin Hike In Shanghai, Gold Is Poised To Close May Near Record On Sovereign Risk Worries: http://www.prisonplanet.com/despite-preemptive-gold-margin-hike-in-shanghai-gold-is-poised-to-close-may-near-record-on-sovereign-risk-worries.html
 Shanghai Gold Exchange Hikes Silver Margin By 20%: http://www.prisonplanet.com/shanghai-gold-exchange-hikes-silver-margin-by-20.html
 Silver surges 5 pct on dollar, gold at record: http://www.prisonplanet.com/silver-surges-5-pct-on-dollar-gold-at-record.html
 Gold retreats from record high above $1,900/oz: http://www.prisonplanet.com/gold-retreats-from-record-high-above-1900oz.html
 Is The CME’s 150% Hike In Gold Collateral Just A Ploy To Increase Amount Of Legally Confiscatable Gold?: http://www.prisonplanet.com/is-the-cmes-150-hike-in-gold-collateral-just-a-ploy-to-increase-amount-of-legally-confiscatable-gold.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.