GOLD

[warpig]

It will never happen, they've already said they won't let any of the PIIGS fail and after Greece, the only solution is QE ∞.

 

Don't want to be a wet blanket but I find the similarity between these two stunning:

 

While "averaging in" with income, will be keeping a decent recerve back [in dollars].

[ecoface]

After scouring the technical schools in search of some pattern recognition for the above phenomena, I finally decided to classify it myself. I called it the "Cheshire's Grin".

 

The way I look at it, a consolidation is always healthy... plus it would enable me to continue buying longer with my meagre income.

 

A double top being the sides of the mouth that's grinning perhaps?

 

As the next 6-9 months will see soverign debt issues, there may well be a repeat flight to safety in USD; gold may fall as per 2008, then repeat the pattern.

 

I can't see it this time round but hey ho, let's see.

 

[azazel]

Interestingly, coin invest told me today that the largest item someone in Britain sold to them (sent to Germany) was a 12 ounce coin. Not one person in Britain has sent them a kilo bar, but they regularly recieve bars from other customers, particularly Germans. Surely not our friend G0ldfinger???? Clearly gold has yet to go mainstream, in Britain.

[romans holiday]

Whatever RH if it works for you, you have my support

 

Remember that 2008 period very well, shorted the yellow stuff down from 800, filled my boots at close to 700 and converted the paper to physical, then locked it all away... I can feel a song coming on

I try to be as realistic as I can towards gold. There is a real chance of another deleveraging dip ahead. Gold should hold up better than last time, due to having been bought as an alternative currency to the Euro. A lot of investment into gold here is liquidity driven... as opposed to the continual line given on the likes of CNBC that buying gold is only a hedge against inflation. Though there are still the hedgies, with their eye on inflation, which might panick out of gold sending the price a bit lower. The thing id to be prepared, and to not be surprised, and to take the right action when/ if lower prices come. I don't short/ trade gold, but will keep decent dollar funds in reserve.

[ologhai]

Any thoughts on what the UK General Election will do to the pound (and PoG)?

 

The Conservatives are looking slightly stronger than they have for the last couple of weeks or so. Perhaps they'll do better than originally thought (although whether that's an over-all majority remains to be seen), and that might lead to some strength in the pound?

[Jake]

Any thoughts on what the UK General Election will do to the pound (and PoG)?

 

The Conservatives are looking slightly stronger than they have for the last couple of weeks or so. Perhaps they'll do better than originally thought (although whether that's an over-all majority remains to be seen), and that might lead to some strength in the pound?

Yea. A lib/con gov could initially put a gloss on the rotten woodwork and we could have a bounce to 170. That would be lubbly jubbly.(for me). I could empty my uk piggy bank in toto then. Some more Ebola in Europe would help,and I think that wish may be granted.

[GatheringStorm]

There is a real chance of another deleveraging dip ahead.

 

Absolutely! - but we know what to do this time don't we? Buy the **** out of it.

 

I keep looking at what gold stocks did in October 2008. Multi multi baggers there for the taking. Won't be had the same way twice.

 

 

 

 

 

[Jake]

Absolutely! - but we know what to do this time don't we? Buy the **** out of it.

 

I keep looking at what gold stocks did in October 2008. Multi multi baggers there for the taking. Won't be had the same way twice.

Ha ha. We won't be Fuld again!

[electroweak]

http://jessescrossroadscafe.blogspot.com/2...17-tons-of.html

Guess Who Is Taking Delivery of 1.7 Tonnes of Gold from the Comex

Its delivery time for the May Gold contract on the Comex, and the statistics yesterday showed some interesting buying.

 

 

Bank of Nova Scotia 'stopped' 699 big contracts, and issued 100 contracts, for a net takedown of roughly 1.7 tons of gold, the bulk of which was supplied by J.P. Morgan.

 

As you may recall, the Canadian bullion bank Scotia Mocatta is a subsidiary of Bank of Nova Scotia. Socita Mocatta was recently involved in a bit of a scandal when some investors went to visit 'the vault where their gold was stored' and found it to be surprisingly, perhaps shockingly, undersupplied.

 

Is BNS acting to back up their paper, or are large investors asking for their bullion in advance? Either way, its an act of good faith on the part of BNS to take the delivery, and probably very smart to do it now.

 

While cash settlement may be an option, it is not ethical, and BNS is known for its high ethical standards towards its customers, unlike some of its more famous American cousins in the gangs of New York.

 

[ologhai]

Yea. A lib/con gov could initially put a gloss on the rotten woodwork and we could have a bounce to 170. That would be lubbly jubbly.(for me). I could empty my uk piggy bank in toto then. Some more Ebola in Europe would help,and I think that wish may be granted.

 

I saw a short item on BBC News 24 yesterday which suggested that money marketeers are betting that the pound will strengthen immediately after the election. Unfortunately, the piece was intended for mass consumption, so there was almost no detail on the whys and wherefores.

 

As a general point, though, it perhaps does make sense that there should at least be some short-term optimism that Something Will Get Done with a new government (which is looking increasingly likely I guess -- the 'new' part). There has certainly been a sense that, prior to the election, the present government has been more or less paralysed by the need to do their best to win another term. In fact, this may have been the case for about two years.

 

It may be that the PoG in UKP has reached a short-term high around here.

[romans holiday]

Sell in May and ........................ buy gold!

 

 

 

Gold climbs as euro zone debt fears spread

 

http://www.reuters.com/article/idUSTRE63P02520100427

Reuters) - Gold hit two-week highs on Tuesday and record peaks in euros and Swiss francs, as ratings downgrades of Portugal and Greece fanned sovereign risk fears in the euro zone, helping the metal shrug off weakness in the euro.

 

Spot gold hit a peak of $1,163.75 and was bid at $1,161.95 at 1525 GMT, against $1,153.38 late in New York on Monday. It hit record highs in euros at 874.70 euros an ounce and in Swiss francs at 1,254.87 francs.

 

Standard & Poor's downgraded Portugal's ratings on concerns about its ability to deal with high debt levels. Portuguese bond spreads hit euro lifetime highs as investors feared the country was the next weak link in the euro zone after Greece.

 

"Gold prices are rising on the back of presumably higher sovereign risks in the euro zone after the latest downgrade of Portugal ratings by S&P," said Commerzbank analyst Eugen Weinberg.

 

"Gold seems to be defying the traditional pattern - stronger dollar, lower gold prices - over the last weeks, pointing to stronger perception of gold as an alternative currency."

 

 

Link to last month's thread:

http://www.greenenergyinvestors.com/index....st&p=164473

[Fortune]

The open in New York on monday could be explosive with this news....you have less than 24hrs to get your hands on some silver before the moonshot

 

DOJ Antitrust Division Considering Launching Investigation Into Silver Market Manipulation By JPM

 

Submitted by Tyler Durden on 05/01/2010 08:36 -0500

 

Eric King reports the breaking news that in a letter obtained by Ted Butler, the DOJ's Antitrust department is considering launching an investigation into silver market manipulation by JP Morgan. Should an announcement of a full formal probe of manipulation by JPM follow, it would be tantamount to a confirmation of what numerous individuals have been claiming over the years, that JP Morgan, the LBMA, the CFTC, various banks, and even that kindly old grandpa who was so much against derivatives except when he was about to lose money as a result of regulation that he is spending the whole weekend telling his investors in Omaha to run, not walk, to Borsheim's, and buy all their massively overpriced trinkets (you can't be a quadrillionaire without first being a trillionaire), are nothing but a borderline criminal cabal that traffics in wealth extraction courtesy of a few monopolist players. As Eric King discloses in its letter the Anti-Trust division announces that "it will carefully consider the issue of silver market manipulation by JP Morgan and other traders. Generally the CFTC investigates these types of market manipulations. However, the suggestion that JPMorgan Chase may be signaling other traders, warrants further analysis. The DOJ will carefully consider the issue you raise, and you can be assured that if we conclude that silver traders have engaged in anti-competitive conduct, we will take appropriate enforcement action."

 

Ted Butler, always cutting to the point, says: "It's about time a major government organization stepped up to end what has been a very serious crime in progress that has basically covered two decades...[JP Morgan's] level of concentration only exists in the silver markets. Concentration is the hallmark of manipulation or a monopoly. Our markets are supposed to be free markets, they are not supposed to be controlled by anybody. Right now the silver market is a monopoly, the chief monopolist is JP Morgan, and the only entity that can step up to JPM is the Antitrust division of the DOJ...If you want to put it into perspective, more important and more serious than what is currently happening with Goldman Sachs. This is a crime in progress, this is an allegation of current market manipulation. This is as serious as you get. You don't get bigger than market manipulation."

 

And, as a scheduled daily reminder to Christine Varney: if you are evaluating JP Morgan for being a silver market monopolist, maybe you can also consider Goldman Sachs for monopolizing the entire global fixed income market (mostly OTC but also cash).

[Crashman begins]

you have less than 24hrs to get your hands on some silver before the moonshot wink.gif

 

Whoops wrong thread

[Fortune]

Whoops wrong thread

Whoopsie indeed!

 

Inside every gold bull is a silver heart?

[TW11]

Gold is a bit difficult for me at the moment. I'm sitting on a good profit with my gold stocks - the sort of profit I always took in recent years.

But for the first time in five years I'm not keen to sell. I'm worried I might not get back in again. I see the SPX 61.8% retrace for this rally is bang ahead (@ around 1228 I think) and with all the sovereign debt crises I think that that if it goes then everything will get clobbered again.

I stuck a small copper short on last week and took profit from almost all my oils. I'm happy to gain on the swings and lose on the roundabouts for a while in order to protect the gold position. Not really comfortable with any of this at the moment.

[GatheringStorm]

Gold is a bit difficult for me at the moment. I'm sitting on a good profit with my gold stocks - the sort of profit I always took in recent years.

 

I'm in this position as well. Oct. 2008 is vivid in my memory. It would be so slick to duck the next downleg in the p.m. stocks and load up when the blood is flowing in the streets again.

 

However, when the time comes there's bound to be some story floating around that makes you think the p.m. stocks won't bounce in the same way.

 

I've compromised so far and sold my frothier holdings such as Osisko which are in the RSI (over 70) danger zone but am hanging on to stuff like Wesdome and Claude which have also been good to me.

[romans holiday]

Gold is a bit difficult for me at the moment. I'm sitting on a good profit with my gold stocks - the sort of profit I always took in recent years.

But for the first time in five years I'm not keen to sell. I'm worried I might not get back in again. I see the SPX 61.8% retrace for this rally is bang ahead (@ around 1228 I think) and with all the sovereign debt crises I think that that if it goes then everything will get clobbered again.

I stuck a small copper short on last week and took profit from almost all my oils. I'm happy to gain on the swings and lose on the roundabouts for a while in order to protect the gold position. Not really comfortable with any of this at the moment.

So you're concerned about losing your position if you take profits. But also perhaps concerned that gold equities might get hammered with all equities at some point. Would selling some gold equities for gold bullion put you back in the comfort zone? If there was a general market sell-off, gold bullion prices should hold up better than equities.

 

I am only invested in gold bullion [liquid in both gold and dollars] at the moment for that very reason.

[TW11]

So you're concerned about losing your position if you take profits. But also perhaps concerned that gold equities might get hammered with all equities at some point. Would selling some of your gold equity for gold bullion put you back in the comfort zone? If there was a general market sell-off, gold bullion prices should hold up better than equities.

 

I am only invested in gold bullion [liquid in both gold and dollars] at the moment for that very reason.

 

Yep, I think if equities go then gold stocks will go with them. Maybe one day they will de-couple, but for now I think the relationship will remain. I am reliant on my small short to protect from this.

I have to admit that it's not my style and I don't like to change what has been a hugely successful strategy over the last five years.

 

I'm not keen on bullion. I prefer the more turbo charged returns on the stocks plus I can use stops and be out quickly. It just works for me.

[romans holiday]

Yep, I think if equities go then gold stocks will go with them. Maybe one day they will de-couple, but for now I think the relationship will remain. I am reliant on my small short to protect from this.

I have to admit that it's not my style and I don't like to change what has been a hugely successful strategy over the last five years.

 

I'm not keen on bullion. I prefer the more turbo charged returns on the stocks plus I can use stops and be out quickly. It just works for me.

Yep, more than one way to skin a cat.

[ologhai]

Just to repeat what I said at the end of the previous gold thread (just in case ):

 

I saw a short item on BBC News 24 yesterday which suggested that money marketeers are betting that the pound will strengthen immediately after the election. Unfortunately, the piece was intended for mass consumption, so there was almost no detail on the whys and wherefores.

 

As a general point, though, it perhaps does make sense that there should at least be some short-term optimism that Something Will Get Done with a new government (which is looking increasingly likely I guess -- the 'new' part). There has certainly been a sense that, prior to the election, the present government has been more or less paralysed by the need to do their best to win another term. In fact, this may have been the case for about two years.

 

It may be that the PoG in UKP has reached a short-term high around here.

[Schaublin]

Just to repeat what I said at the end of the previous gold thread (just in case ):

 

I saw a short item on BBC News 24 yesterday which suggested that money marketeers are betting that the pound will strengthen immediately after the election. Unfortunately, the piece was intended for mass consumption, so there was almost no detail on the whys and wherefores.

 

As a general point, though, it perhaps does make sense that there should at least be some short-term optimism that Something Will Get Done with a new government (which is looking increasingly likely I guess -- the 'new' part). There has certainly been a sense that, prior to the election, the present government has been more or less paralysed by the need to do their best to win another term. In fact, this may have been the case for about two years.

 

It may be that the PoG in UKP has reached a short-term high around here.

 

To balance that out, what about an immediate announcement by the new 'government' that the UK is in much deeper shit than had been hitherto let on by Brown?

[Justin Thyme]

Wonder if the finalization of the Greek bailout will have any detrimental effect on gold ?

[Schaublin]

Wonder if the finalization of the Greek bailout will have any detrimental effect on gold ?

 

 

How would that work? A country that already has unpayable debts is lent another 150 billion.

[Errol]

The Greek bailout signals that the printing press is set to run on full steam for eternity. Gold will benefi in the long run.

[notanewmember]

If you have a printing press it is easier to use it, and worry about the consequences later.