COT news and other Gold related stuff.

If you haven't switched over to follow my wordpress blog already I wanted to let you know of the recent post:

Worthy financial news to eye today.

New Post: The Sinking West. The Sideways Gold.

I've primarily been blogging now with wordpress. Here's my latest post:

The Sinking West. The Sideways Gold.

Monday Must Reads on the Gold and Silver Markets

Be sure to check out my wordpress blog entry (I'm doing most of my posting there now):

Monday Must Reads on the Gold and Silver Markets

Hey?! We pay taxes, why?

Hey, I've a couple of posts I think worth you're reading time over at my WordPress blog:

Just why do we pay taxes if the government can create money?

And this post has some interesting news items:

Gata, Russia, Greeks, Credit Default Swaps, China, Gold, and Unemployment.

New Floor for Gold? And Some Reading Material

Gold I believe is testing out a new floor. Previously, most have pegged the floor in general at the $1,000 spot. But some of the stuff I'm reading and watching is leading me to believe that the $1050 area is being tested as new floor.

Right now the free desktop widget ExactPrice is showing gold's spot at $1053.50. Earlier it hit a low of $1045.30, but the action this morning is showing buyers attempting to keep it in the $1050 range. The end of the day will tell.

That said here are some links that I think are must reads.

Europe’s debt crisis is a buying opportunity for gold lovers?

Precious Metals at ‘Bargain Basement’ Prices - James Turk

Hourly Action In Gold From Trader Dan - Jim Sinclair's Mineset (important read)

If you read none of the others, this is the one you must absolutely read:

Breakdown in the Gold Market by Jim Willie CB

A great disconnect exists in the gold market between the exchange futures contract price (the paper price) and the gold bullion paid price for transactions (the physical price). The differential in price is growing wider, enough to place tremendous pressure on the gold market itself. Look not to the gold premium paid for purchases, but to high volume purchases in the tens of million$. In mid-December, almost every demand for gold contract delivery was matched by a cash delivery, complete with 25% bonus premium offered. The officials even produced a new ledger item called 'Cash For Delivery' that was necessary to balance their badgered books. It prompted little attention. Some call it a basic bribe. Others call it a technical default.

More Lay offs on the horizon from big biz.

Get ready. You're head may be on the chopping block.

Layoffs Cut Deeper Into Economy

The nation's employers, including some of its largest and most sturdy, announced plans yesterday to slash more than 55,000 jobs, a staggering one-day toll that highlighted how quickly layoffs are accelerating and how widely misery is spreading throughout the labor market.

That doesn't bode well for anything if you ask me (well maybe for gov to rush in and play hero with more bailouts and further enslavement). Doesn't look good to me when it comes particularly to production. You can only cut so much and then other areas of start to hurt and eventually you bleed to death.

Advice: Get out of debt asap.

Two videos you should watch.

This is a must watch video interview with a man named Herb Kay from HK Turn Around.

2010 Financial Predictions (and what to do about it)

This second one just makes me smile.