ologhai

Let's see what happens when the DOW opens.

I can almost guarantee that the price will be lower than it is now... It's not usually wise to buy immediately after a very recent leg-up.

Not any more!

That was my gut response, too. I have a feeling that we'll see a mini-correction today and that markets generally will show some strength today. I've considered dabbling in a little gold trading today, but I doubt I'll have the courage... Anyway, maybe gold will continue to rise, and I'll be glad of my cowardice!

GOOD GRIEF! You're not kidding... I wonder how much, if anything, this has to do with (as I'm sure I heard the other day) there is no compensation scheme to recompense savers in Australia should a bank go bump?

Oh, and on the subject of the price of gold... HOLY COW! (I'm particularly looking at it in GBP...)

Thanks for your views, BigT. Does anyone know of a good place to see the current oil price and oil price charts? (Apologies for polluting The Gold One with oil talk! )

I might agree also... if I knew what you were talking about! I do wish that most of the stuff on here wasn't so way over my head!

Hear, hear!

Didn't it get higher than that last Monday? If it didn't, it must've been pretty close!

Gold looks to be around £508 which is still a quid or three below the high isn't it? I don't have any money with IceSave, but I withdrew a few grand from Kaupthing Edge yesterday morning at around 7am (about 27 hours ago...) I guess that makes me part of Iceland's problem.

IceSave has just stopped investors withdrawing their money! (According to BBC News.) And gold in GBP is making strident moves upwards...

This isn't really the place to discuss this, but do you think OILB would be a good place to stick a few quid for the medium term (say, a couple of years or so)?

I thought the phrase was '100% correct, guaranteed'!

Is it just me, or is BV's gold price chart not working this morning?

Having caught up with the last two or three pages of this thread, I'm left on balance feeling like the PoG is heading south for now. Is that a fair assessment of people's average feelings (assuming one can average feelings! )? Also: British Bulls on Gold.

This time, gold's recent price activity isn't the reason why it's in the news. Presumably, as far as TV, radio and newspapers are concerned, it's just part of the 'Loss of Trust in Banks' story. BTW, buying gold was just mentioned on BBC News 24. People, they said, are queuing up to buy gold. Has anyone heard of people actually queuing (e.g. lining up outside Chard's) or was this just a figure of speech?

I was only half listening, but Sarah Montague mentioned buying gold on BBC Radio 4's Today programme (their 6am-9am news and current affairs show). I imagine they were doing the Today's Papers slot and she was just reporting this Guardian story, but as I say I was only half listening at the time -- at least before the mention of gold caused me to prick up my ears... After chatting about the Irish decision to guarantee 100% of deposits and the response of savers, she said something along the lines of, "Meanwhile, some investors are taking matters into their own hands, and are buying gold."

You may find this chart interesting. It's essentially an up-to-date version of Steve's 'Ten-thousand Bucks or Bust' chart that appeared towards the end of last month's Gold thread... except that it happens to be GBP-based. It looks just as plausible I guess, but it clearly shows that gold will reach £10k by 2019... So, $1 = £1 within (at most) a decade?

Thanks for the explanation!

May I ask what 'fortress Kitco' is? When I first read your post, I assumed you just meant Kitco (as in the Kitco website), and your gold would just be in the mail. But then it transpired that you actually had the gold. Did you buy the gold over the counter, or did you just buy online a while ago and only post when you'd taken delivery? I've never bought any actual in-my-hand gold (all mine is BullionVault stuff -- for good or ill), so I'm just curious about how you got yours. I think if there was a bullion shop in my piddly little town (i.e. picking up physical PMs was trivially easy), I'd probably have acquired... well, probably some silver I would think, in case things really go down the tubes, so that I have some smallish denomination silver coins to use as money in a pinch. As it stands, though, as I say, I don't have any actual physical hold-in-my-hand metal. Can't really decide whether this is such a big deal or not...

And the DOW is climbing?!

Solid rise against sterling.

Given that the bailout has hit some trouble, I would've expected stockmarkets to dive and gold to rise... So far, I seem to be 50% right...

Bailout confirmed, then?