Rush to the GLD

Gold is up nearly 30% today. there's been a rush to the GLD. exchange rated fund, up around 50% this year. Bob Mipisani shows us the unprecedented access he got at the GLD vault. it was an incredible array of gold A look at where gold prices are headed and who are the largest buyers of the precious metal, with Jason Toussaint, World Gold Council "it's important to note there is a big dichotomy where that demand is coming from. there is constraint and supply coming to the market. secondly, if we look at the difference between developed markets and investors and u.s. and europe, they're turning to gold as a store of wealth, safe haven asset and looking to store that wealth through time. particularly in markets in India and china, an economic prosperity story. certainly through the last decade, we're looking at 9% above GDP growth estimates for both of these markets, there is a huge wealth creation effect going on. we know both cultures have strong affinities to gold and now decreasing discretion area income and taking more gold off the market." says Jason Toussaint,

Gold is till in an overall bull trend

While gold is off its all time high, prices are up more than 25 percent this year. Insight on where will head to next, with Mihir Dange, Arbitrage gold options trader.gold is off the all-time high prices are up more than 25% this year and yesterday popped $35 an ounce after a Chicago fed president Charles Evans told Steve linesman that we were basically in a recession at least when you look at the job market. "we're still in an overall bull trend. there's one piece of mfgs that still has me a little bearish and that's we have a trend gab at 1668.70. we would see that number and on the lows we were going to hit that number last week. it's all over the place right now. the volatility is still very high and we're getting $60 moves." says Mihir Dange

Bob Chapman : Gold going to $2000 - $2200 and Silver $50 in this coming month

Bob Chapman - The Financial Survival 31 Aug 2011

Bob Chapman :    there is gold and silver coins shortage in Germany in particular and in Europe in general ....this September month gold will go to $2000 - $2200 and silver will taste the $50 there is no overhead resistance for either of them , we are seeing a vitriolic attack on Gold and Silver by the main stream media ....

Gold Rush : The Bullion Trail

What happens to gold once it's been refined and how is the precious metal priced? A look at the middlemen of the gold world, with Bob Pisani."it was hot right down there in Johannesburg, south africa, we trafrled to the deepest mine in the world, and then we went to the world's biggest refinery outside of Johannesburg. what happens to the gold once it's refined and how is it priced? meet the middlemen of the gold world. the bullion banks. London. an epicenter of the gold bullion market where about $75 billion worth of gold is traded every day. banks like HSBC trade much of the world's bullion which is housed and bought all over the world like this one in London. whether the banks buy the gold directly from the miners and refiners or hold it for clients, want banks serve as a vital intermediary according to HSBC's global head of precious metals Jeremy Charles. when the producers want to sell. they can sell to a bank. when a consumer wants to buy, they can buy from a bank. it's a lot of different things the banks can do with it. they can store it for private clients or exchange-traded funds or central banks or they can sell it to other banks or they can advance it to jewelry manufacturers and industrial companies. Jim is a managing director on the gold trading desk in new york. he says bullion banks operate a lot like traditional banks. it's kind of like a microcosm of a bank where the bank does finance, cash management and other services. we do that in precious metals for clients. bullion banks play an important role in the daily price of gold and it all starts in London. for 100 years the spot or cash price of gold has been set at a twice daily conference known as the fix. now done by phone, between five bullion dealers who settle the price based on the buy and sell orders of their customers."

Bob Chapman : Gold should be selling at $8000

Bob Chapman - USAprepares - August 30, 2011

Bob Chapman : I am calling for the end of February $3000 , $3200 on Gold and #100 on silver I think that's conservative it's all fundamental , this is a good time to get into gold and silver bullion coins and shares because this thing is going much higher , gold should be selling at $8000 , Gold is now the world reserve asset , but nobody is going to tell you that but me ....

Gold Is the Safest Currency

Gold Is the Safest Currency Gold is money the only real money , gold is not an investment it is not a speculative investment , Gold is not a commodity , many people are confusing Gold for a commodity or an investment , gold is Money , I hope people get it , Gold is the only money with no counter party risks attached to it , even the Swiss franc is being debased by the Swiss government in order to boost the exports , when you own gold you are your own central bank , cash is just a certificate saying that some central is holding gold for you which is not always true as we know , what would you trust more Gold or a piece of paper with somebody's name and signature on it ??? governments can change their currency or debase it with a stroke of a pen leaving you holding piles of worthless papers it happened before it could happen anytime , no central bank can print Gold out of thin air , gold has been money for 6000 years and will continue to be the only money ,