Bob Chapman - National Intel Report - August 24, 2011

Bob Chapman : on Thursday the Gold Silver options expire and the banks that write these options especially on the long side and most of them are on the long side like 7 or 8 to one they were all on the money because the price of Gold had gone considerably higher , so those banks try knock the price down and I think the government also was involved in this big time , I think on Thursday I will be a large buyer of Gold and Silver coins bars shares and the reason why is this bull market is enormously powerful and it is being led by players that have a lot of money , they do not care about margins , if they raise margins from 7500 dollars where they are now to let's 21600 dollars like they did with silver it would not make any difference

Marc Faber : Gold is the most honest form of cash

Marc Faber : "I'm not certain that people should buy gold today because we have a huge run in precious metals recently and they need to consolidate or shake out the weak holder. I would expect the correction in gold to occur. I think that everybody should have some gold if they want to own some cash because gold is the most honest form of cash people can own" "well, it's (ETFs) a claim on physical gold. i prefer if investors hold physical gold in a safe deposit box ideally outside of the u.s. in various locations, Switzerland, Singapore, Hong Kong, Australia, Canada. " "I think it's important in today's very uncertain world to diversify not only the various asset classes, in other words equities, bonds, gold, real estate and also the custody of your assets should be in different jurisdiction , I don't trust anyone" - in CNBC 23 Aug 2011

Shanghai Gold Exchange Raises Gold Margins causing gold prices to drop $150

The Shanghai Gold Exchange said on Tuesday that it will raise trading margins on three gold spot-deferred contracts to 12 percent starting on Friday to limit trading risks following the rapid rally in gold prices.The CME has raised margin requirements for gold twice this year, once in January and once in early August, by 11% and 22% respectively. The moves did little to stem gold's rally. A week after the margin hikes in January gold was down just 2% and a week after the August hike gold was up 1.5%.Gold pulled back to as low as $1745 this morning before re-bouncing 35 dollars Many experts think, that any dips will be met with strong buying and help curb a deeper correction.Don not panic just do what Bob Chapman always recommends use the dips as God's given opportunities to buy as much physical gold as you can , this rally is not even started , the gold prices are very likely to touch the $3000 mark before 2012

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)