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Down Under Randoms

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With Toddo away at the Butte and Mr Collins tying up the loose ends before his trip, here are some Random Thoughts from Down Under:



- Gold is number 79 on the periodic table. Remember that thing on the wall of the science class?

- Silver is number 47

- Gold was first discovered (announced) in Australia in 1851

- Some silver supply-demand numbers

- Is it Butte as in backside or Butte as in beaut?

- The Greeks don't like to watch live sport, judging by the crowds (or lack thereof) in Athens.

- Is this for real?

- Consider a mine with an orebody grading 3 grams per ton. That is 3 parts per billion. Worse odds than a needle in a haystack? The gold processing circuit had better not miss those three specks very often!

- There are 32.15 ounces in a kilo of gold and 32,150 kilos in a ton.

- Gold bars for Comex delivery must be .995 pure. I prefer .9999 bars myself.

- Good attempt!

- Minyan Michael sends word that the "World gold council said Q2 consumer demand up 11% despite higher prices with Argentina a net buyer". LM- I'd reckon they'd know a thing or two about inflation and currency debasement and are taking appropriate action.

- Golden Star Resources (GSS:AMEX) has risen 20% from yesterday's open with gold up $5. Go figure. A short squeeze of some note.

- Instead of sending a bunch of uninspired and apparently disinterested NBA stars to the Olympics, why not send the NCAA winning team in the Olympic year to represent the U.S. Makes a "serious" prize for the NCAA winner each 4 years.

- I have a 200 period moving average on some indicators here. The 15 minute comes in at $404.25 at present, the hourly at $399.50 and daily at about $401.

- Do charts tell us where we are going or just where we've been?

- Would a 200m sprinter run just as fast clockwise as counter-clockwise? I say not.

- The Amex Gold Bugs Index (HUI) is nudging the 202 level that was rejected back on 12 July with gold at $408. The first consistent thing I've seen regarding metal equities in a while!

- Oil at $47. I note some analysts saying fair value is $25-30. A $17 risk premium seems a little excessive or the analysts are way too bullish. I think the latter.

- Oil???

- "Paper money will always return to its intrinsic value. Nothing." - Voltaire.

- Base metals on the LME are all green.

- The gold/oil ratio is half its last 20-plus year average and at its lows. Is oil twice what it is worth or is gold to double and return to its historic relationship? I expect the latter, NOT ADVICE.

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