Pixel8r

He is full of it, trying to say that even goldbugs weren't predicting $1600, JS gave that target in 2000.

Yeah sorry for my silly mistake, I think I was just trying to draw attention to the video as it got no replies. What with all these big numbers floating around (millions, billions, trillions) it easy to get a few zero's wrong, maybe that is Ben's problem. I agree that the HK exchange opening up should hopefully bring about some more stability and increased competition should stop the rapid fire margin hikes.

Oops I left off 3 0's from the above. Should read 250,000,000,000 ounces traded in one minute!!!

Cool, thanks. I will check your video later. Which thread was it in?

I think that us buy & holders on here and other boards stand virtually no chance of missing the top in this, we have discussed the warning indicators ad infinitum and I am sure when the signs start to appear they will be well talked about. I routinely take a bit of profit anyway over the last 4 years and have been feeding it into other investments. Like for instance last year I bought myself a new camera, a hasselblad H4D 50MP, with profits from bullion. That camera is now earning me good money, better than i have been making from bullion. I could tell you three or four stories which are very similar to yours above, property bulls where everywhere and most off them had little understanding of economics. There still appear to be a lot left to me, which is one sign that this is far from over. I have lost a load of so called friends over the last few years due to my stance on property and gold, it seems that it is a common story. It is very good to be proved correct after years of talking about it though.

Yes, I can still log in but nothing I attempt to post actually shows up. I give up on them, bunch of muppets.

The truly strange thing about it is I have been doing it since 2007 and it still fits, which is amazing when you notice that the chart is actually a log plot. I once forwarded it onto James Turk and he mentioned that it showed the truly hyperbolic nature of the gold price in GBP. Edit; just realised you way have been talking about the real rates graph, I agree it is but think it would be better if it was done with the shadow stats cpi figures.

250,000,000 ounces of silver sold in one minute! http://www.youtube.com/watch?v=Y--jCrDOSjk

Do you really think we are approaching the end game? I don't think this will end until at least 2014, interest rates have gone so far negative now. If you go off the way CPI used to be calculated via John Williams shadow stats figures, the CPI is currently around 10% while base rates in the US are 0.25%. From history gold prices continue to rise until rates go to 2% above the inflation rate, so the gold price has a whole load further to go yet. In the 1970 gold bull run the gold price went from $35 to $850 which is an increase of over 24 times. Things are much worse this time, yet we have only seen an increase of around 6.5 times so far. This bull run is far from over the public still has virtually zero exposure, talk to the average man in the street and they just look at you strangely. The chart below shows gold performance compared to real rates (bond rate - CPI) and this is using the official CPI rate, which we all know is cooked. They are currently discussing changing it again to make deficit reductions via reducing social security in the US, I am sure similar will happen here in the UK at some point.

I have just tried to post the graph below to the new HPC gold thread and have realised that I cannot post to it anymore. They really are ahead of the curve.

I think this madness, as you put it, will end when gold become linked to currency again probably via the SDR. So you will only miss maybe 10 or 20% by not selling at the peak. There is no way we will ever see $890 again, too much fiat has been created.

http://www.bbc.co.uk/news/business-14195981

Strange really as the margin requirements on gold were actually relaxed when they increased them five times recently on silver. It is almost like they are trying to distract attention away from silver due to lack of supply. There isn't much chance of gold going parabolic as the cartel seem to always make sure that the 2% rule is stuck to. I do expect gold break the 2% rule on the day that the next round of financial stimulus is actually announced, but not to go parabolic. This chart of the daily gold movements over the last 3 years hardly looks parabolic to me, more like a steady escalation.

You should be happy now then.

Poised? It's already at them.

I thought the old high was $1577?

New Andrew Maguire interview on KWN, must listen it seems to be moving the market immediately. http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/11_Andrew_Maguire.html

Not sure which seasonal chart you are looking at, but this one for the last 40 years shows that have already bottomed seasonally.

Looks cheap to me.

It's the shorts that are doing the covering IMO.

Dream on, you are as usual not facing up to the reality of the situation. but then I guess you need to cling on to false hope holding your dollars. There is a massive squeeze going on in the physical silver market. Within a year the comex will have no registered silver, I think that we will see a break of $50 this year and then it will turn into support a bit like when Gold went through $1000.

Here's the video the stills above where taken from, if anyone hasn't seen it already. http://www.youtube.com/watch?v=-HaqwFJj4ZY

For anyone following ECU, there has been an interesting development. Golden Minerals Company and ECU Silver Mining Inc. Announce Merger of Equals Creating a New Growing Silver Mining Company

Sorry I am not sure what he said about it as I don't subscribe to his service, just caught the headline. The thing with using outstanding liabilities to calculate the gold price is that they are always changing at an increasing rate, what works today is out of date tomorrow. I think it is much better to value gold against other things rather than a flawed fiat currency. As I said above I find it much better to try and use the ratios to other assets to work out potential tops. How could you have worked out a potential top for gold in Zimbabwe dollars a few years back, a gold to food, share, oil or property ratio would have been much better?

The thing is time has already told, we have been having this same conversation for years! I expect gold to be at least $2100 by June 2012, if not higher and the rate of increase steepened further. I remember arguing with you that when gold was around $950 that they next time it went through $1000 it wouldn't look back, at the time you were still saying it was going to be correcting. Look where we are now at $1550 which doesn't seem that slow and stable to me. Here's my hyperbolic curve on a log graph of gold in pounds again, which clearly shows that increasing rate of change.