wren

The new junior miners ETF GDXJ started trading on Wednesday. http://seekingalpha.com/article/172955-new...tile-as-it-gets

marketoracle has just published an article about Peak Silver and Mining by a Falling EROI. I haven't read most of it yet. Plenty of charts: http://www.marketoracle.co.uk/Article14756.html

My comments in bold:

USD 1117.10 EUR 745.66 at the mo'. The euro price is still well below its record but interestingly today the euro price just steadily increased hour after hour. Pretty unusual. See euro and dollar charts at this link: http://www.24hgold.com/english/gold_silver...aspx?money=Euro

Yes, it's available here in Finland. Nice video.

Thanks. So chronological it shall be.

So much for a useless yellow metal. Scrap mobile phones contain a lot more gold per tonne than gold ores.

I can claim to have read Dostoyevsky as I read The Gambler several years ago and enjoyed it. It is a normal length novel though, unlike e.g. Crime and Punishment, which probably is that. Just recently purchased most of Nietzshe's works spread over several books. Do poeple have recommendations in what order they are best read or is chronological good enough? I've already read the Anti-Christ.

Yes, I had forgotten for a moment about the new retail promotion of silver in China. This lends great support, maybe a Shanghai put (if the Chinese government feels the need to support price in order not to lose face, which I suspect is likely). Just that I try not to get my hopes too high, like imagining that it will got to 20:1 in the near future. I would love it if it did and long-term I think it will.

I think in the very long run silver will go to 20:1 or even less. However, I don't see it as likely happening in the near future. I keep in mind that silver these days is primarily an industrial metal and only secondarily an investment metal. So silver is potentially subject to industrial demand reduction during this recession in a way that gold is not so much. Having said that, if a physical delivery default occurs on COMEX who knows what the price of silver might do?

The euro price is up even more as the euro drops against USD. The euro gold price has been very boring for months. USD 1084.32 EUR 737.32 (up from about 721 this morning) I suppose the Indian purchase is psychologically signifiant: a sizable and highly public purchase by a central bank at over 1000. I wonder if Asian trading will hold the price up? 1100 beckons.

If there really is some sort of Shanghai put this might turn out to be the case. Mish: http://globaleconomicanalysis.blogspot.com...n-european.html

I'm just beginning to do background reading on these matters: indexes like the HUI and others and possibly junior stocks. Let's hope we get a great buying opportunity. There are some new indexes including more junior stocks. This is a good intro to the indexes: Introducing the New Gold & Silver Companies Index (GSCI) http://www.gold-eagle.com/editorials_08/wilsonl102609.html I'm planning on opening a stock account with Internaxx (Luxembourg) which gives access to Toronto as well many other stock exchanges.

I'm hoping that this winter gold stocks get beaten into the ground but that gold holds up much better. If so I can sell some gold next spring to get more gold stocks, as they would be relatively cheaper.

A useful drop in price today. Short term I never really know whether to expect it to go up or down. For that reason I would average in over a few weeks. Not very daring but it keeps the stress level down. USD 16.09 EUR 10.93 Best of luck. Hope you get a good correction if you decide to average in.

Months ago I bought 1 silver and 1 gold Panda from CID (a dealer I trust). I decided that was all the Chinese I would buy, especially silver. I wouldn't touch any Chinese silver or any silver with a Chinese connection with a barge pole. Why risk it?

I would probably go somewhere halfway, i.e. take on some mortgage but keep back a useful amount of cash/gold etc. Is it really not possible for you to get a good place to rent including some security of tenure, say for 2 years? That's what I would try to get, but I think the hpc is still on, at least in gold terms.

Just found this video at GIM. A brief explanation of the USD and silver carry trades. From: http://www.youtube.com/watch?v=lHQR85_dgxY

It's still well below the all time highs in euros, pounds etc. I'll get excited when it makes new highs in those currencies.

I got some feeling that GF wanted a thread for keeping long-term charts and other observations without short-term trading stuff. Perhaps like a more expanded version of his GIM thread. That would be a good resource. Apart from that I would prefer if "and Investment" were put into the title of this thread and we could continue the old system where this is the daily gold "chat thread".

Gold was never given up on. Hundreds of millions of people keep it as savings. Central Banks still hold thousands of tons of the stuff. I never mentioned the "gold standard". I never mentioned "global elite-banker conspiracy". Gold is precious primarily because of its rarity and physical properties.

On the kitco forum there was an Icelander who put his savings into gold (at GM) before the Icelandic financial crisis. Friends and collegues thought he was a bit of a nutter doing that. Maybe they changed their minds later.

Gold was and is valued primarily for its rarity and desirable physical properties such as fungibility, stability etc. It acquired its history as a store of value because of those properties.

+1.5 /I'll get my coat.

GF asked that "and Investment" be put into the title as was normal. It didn't happen so he started a new thread which is more about fundamentals and the long term than about short-term trading. I was happy with the original "Trading and Investment" thread which included everything. There seems to be some tension caused by the gold price move and differences of mood between those waiting on the platform hoping for a correction and those already aboard the train not taking the risk of being left behind.