Gatesy
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Posts posted by Gatesy
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With Gold down today again... almost $100 :
I want to put a clip on YouTube...
Robert Ian saying:
"Never ever ever... sell your Gold."
(What a great pre-warning of a coming top was that !)
And this:
Big Picture: “Ready to Launch”--All Roads Lead to Gold
MP3: http://www.netcastdaily.com/broadcast/fsn2011-0910-2.mp3
Jim looks at two more topics on the Big Picture this week, "Ready to Launch: all roads leading to Gold" and "Policy Response" analyzing President Obama’s speech on jobs, and potential next moves for the Federal Reserve.
I think some purists need to do some serious rethinking of their "eternal principles"
A little bit of guru tapping may not be a bad thing, to bring the point home...
ANYTHING CAN HAPPEN !
You may find you will trade better (as I did) when you adapt that as your mantra.
Buying Opportunity? Maybe.
Gold actually traded BELOW the 144d MA in Hong Kong and the UK.
I plan to buy some there (about GLD-$153), if it trades there in the UK
Well, your post might make sense if there was ever an assumption that the above commentators or anyone on this board is just interested in trading. But obviously many don't want to trade. I have been following a little of the banter on your beating B&H and your above comment ultimately just illustrates your short term mentality vs others' long term holding/security mentality. Clearly comparing apples and pears.
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First gold dispensing ATM opens in the United Kingdom
http://www.bbc.co.uk/news/business-13998238
A gold bar vending machine has opened in the Westfield shopping centre in west London.
The machine, which follows others around the world including in Dubai and Germany, dispenses gold bars. Prices are updated every ten minutes as the gold market changes.
The company behind the venture, Gold to Go, put a mark-up on the price of gold but CEO Thomas Geissler insists it is a good investment for members of the public.
Gold prices are currently close to record highs of more than $1,500 (£940) an ounce.
However, economically challenged people failed at an intellectual level when asked their opinion on whether the gold bars would make a good gift or investment.
I thought this was a great video, showing a majority if clueless joe publc.
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I am amazed at the negative sentiment towards silver. Everyone has sold or is selling. Look at the headlines on the
kitcosilver page:
Comex Gold Ends Weaker on Profit Taking; Silver Takes Bigger Downside
Hit as Bulls Tire - Kitco News, Apr 26 2011 2:14PM
Silver, Gold Prices Retreat Off Highs - The Street, Apr 26 2011 2:31PM
'I'm Out Of My Speculative Silver Position' - David Morgan - Kitco
News, Apr 26 2011 1:35PM
Silver Bulls Become Exhausted at Higher Price Levels - Kitco News, Apr
26 2011 10:28AM
Be Cautious Investing In Silver At This Point - Kitco News, Apr 25 2011 6:24PM
Kitco Audio: Are we in for a Big Silver Correction? - by Al Korelin ,
Apr 26 2011 3:13PM
Silver - Key Intra-Day Reversal - by Puru Saxena , Apr 26 2011 9:36AM
I've never known such anti-silver sentiment. Even from the silver bugs.
What happens if it confounds everyone and turns higher? Do they all buy back in? Do they stand there and look like fools cos they said sell?
Haven't got it in front of me cc but I'm sure you're silver report last year said something about if silver reaches 60% higher than 52 week MA then for goodness sake short it?
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Anecdotal
The old lady who owned my parents house had an acre of apple trees they yielded £200 a year in the 2nd WW from them to convert a car cost £80 then and a house £500 by my reckoning that's approx £40k pa in today's money.
My dad felt that was right as he says food was very expensive in the war in spite of the rationing.
If you have a garden forget the wisteria and cedar and plant some food producing trees is so simple now and it will make a real difference if an economic collapse does come.
My neighbours currenty give me kilos of apples for free in the autumn to make chutney. They can't give em away to most people. Perhaps in the future they wil see a return to scrumping..
edit: by the way I didn't mean the urban dictionary's definition of scrumping which I had never heard of until just now!
http://www.urbandictionary.com/define.php?term=scrumping&defid=581935
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Anyone share the markets concerns with this news? (There may be no correlation with recent price action - see above post)
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Interestingly Silver Wheaton has completely stopped responding to the hot metal itself, in fact quite the reverse....
http://www.google.co.uk/finance?q=TSE:SLW
ps. maybe the market just doesn't like Randy Smallwood
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Silver now trading 69% above it's 52 week MA ........ Some would say "short here". I've lightened up the ETF holdings and may well eat my words but having gone through 2008 the view I am now taking is stay in (physical) with a material portion of portfolio but hold some dry powder at these sort of moments.
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G&s sharp drops doing serious damage to related stocks / juniors today. Thank goodness for cash on the sidelines. Come on markets do your worst.
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From the Frizzer thread:
[ramble] I was speaking to a very good friend of mine over the weekend who I consider a very intelligent individual, in fact even if I consider it so or not, he IS a very intelligent individual by virtue of his academic and indeed career (IT) track record. At 38 he is the same age as me and therefore of my generation having grown up with many of the same lower middle class cultural influences. Now I have applied for over a year now a self imposed ban on ever raising the subject of precious metal and related investing in conversation, and will only ever now even discuss it if someone directly asks me about my thoughts on where to be invested and I believe they are actually interested in a proper conversation rather than something they not really going to listen to.
Well after a well lubricated afternoon in a London Bridge pub he asked the question, "how are those investments of yours doing these days?". We have discussed my views on gold, and silver, a few times before but he still maintains I have never convinced him of a single good reason for the case of gold ! So maybe in this particular instance I'm the problem , perhaps I can't articulate it, ( I was pretty hosed up!); but I don’t think so. Over the course of about another hour covered many of the fundamentals, supply and demand, past and future debt crises and the monetary response, the bull market technicals, long term cycles and trends and the historic facts of repeating ratios and trends, the psychology of markets, gold as money, 3000 years of history vs 70 years of fiat experiment and so on. And we discussed it all.
And nothing seemingly can convince him. Yet he accepts I might be right on “rising gold prices” (which by the way I emplored him to see as falling fiat money values), but in a way that somone would accept there is a 50:50 chance of a coin coming up heads if you tossed it… And the over arching basis to his thinking seems to be that fiat moneys are the way to measure the value of assets and the sovereign economies those currencies mainly operate in. In other words I see the situation as him being massively culturally wedded to fiat monies and incapable of seeing a reality, which I have explained to him is my reality, where individuals should be far more comfortable measuring the real value of things in gold and silver ounces.
On the other hand, 3 other people who before my self imposed ban and during (on request only) I had previously discussed PM’s with have unprompted mentioned how well gold had performed recently and how I was a “lucky ba**ard”.
What I take from this is that I think some people will actually be more easily convinced than others by a record of “rising PM prices” and quite soon, but that it is in others the cultural complacency and blindness to the flaws of fiat currency that must be overturned by an epiphany before they will be convinced of the truth that is the devaluation of fiat currency, and for them it may sadly come too late. For me it wasn’t 7 years of “price rises” that made me buy metals just blindly jumping in; I do actually consider myself “lucky” that in 2007 I had the epiphany of what gold is and woke up from “the matrix” of the fiat system, as otherwise I could have been in that latter camp of those for which I think it will eventually be too late.
I think $1500 / £1000 gold will be very important in terms of a sustained increased awareness amongst those who will respond to sustained “price rises” rather than truly understanding fiat devaluation. Yet I am fairly convinced we will have one major pullback soon before prices are above those levels permanently [/ramble]
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Yeah fair play to those charts Pixel and GF
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over the past few days 2 people i know and have known for a while (not close friends) have recommended buying gold and wish they bought some sooner.
Stage 3... slowly but surely as with all secular Bull Markets in the history of time.. is coming.
http://m.youtube.com/#/profile?desktop_uri...sters&gl=GB
Episode 10 released this week. Genius and always funny, but somehow i knew he was going use the 'G' word when asked how the entrepreneur asked Alan to identify his most lucrative investment
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But many of the above will buy into ETFs/remote storage and will lose everything anyway.
Do you not use Goldmoney at all Schaub?
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Fair play learner. I was trying to get myself into selling mode today but just couldn't do it (juniors too). Something was stopping me despite seeing the 1.5x 200DMA signal clear as day. I think your 'practicing' for the final top is in some ways quite a neat strategy; but I think you will have to look deeper to understand whether for the real 'end game' you would want to sell at all... If there is a genuine collapse in fiat then surely having sold prior to the real moon shot and a collapse of your chosen paper currency would render your years of foresight, and holding tight, worthless if indeed a hyper inflation were to take hold. Just thoughts really, but I suppose if selling is a realistic objective, which I think you are right it has to be, you need to be nimble at flipping over into another hard asset (houses perhaps?) to ensure your hard work does not go to waste.
ps. another reason for considering lightening up was the too damn bullishness of everywhere I look at the moment, in silver and gold The Guardian's now permanent Gold section sandwiched as it is between Savings and Mortgages http://www.telegraph.co.uk/finance/persona...investing/gold/ , along with all the ramping from Back, Sachs and Cracks etc just gives me the heeby geebees !! Still a really healthy correction now would be great as far as I'm concerned, as I may not have lightened the load with existing holdings but I'm sure I will learn from '08 and look for any opportunity to utilise spare cash if bargain season comes presents itself again. So much of this is about fighting the fear and greed bedfellows.
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In 2006 silver went from around $15 at the peak down to $10 wiping out all the gains during the peaking period.
In 2008 silver went from $21 down to $8, although this is not a fair comparative figure as this was a panic which is very infrequently seen.
we have seen silver peaking every 2 years during this bull. you make me sound like a day trader! why don't you start trading a little and start maximising your returns?!!!
Fair play learner. I was trying to get myself into selling mode today but just couldn't do it (juniors too). Something was stopping me despite seeing the 1.5x 200DMA signal clear as day. I think your 'practicing' for the final top is in some ways quite a neat strategy; but I think you will have to look deeper to understand whether for the real 'end game' you would want to sell at all... If there is a genuine collapse in fiat then surely having sold prior to the real moon shot and a collapse of your chosen paper currency would render your years of foresight, and holding tight, worthless if indeed a hyper inflation were to take hold. Just thoughts really, but I suppose if selling is a realistic objective, which I think you are right it has to be, you need to be nimble at flipping over into another hard asset (houses perhaps?) to ensure your hard work does not go to waste.
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"Silver found on Moon" reason for sharp falls in price.....
Moon's water is useful resource, says NasaBy Jonathan Amos
Science correspondent, BBC News
An image of debris ejected from Cabeus Crater and into the sunlight, about 20 seconds after the LCROSS impact. The inset shows a close-up with the direction of the Sun and the Earth
There are oases of water-rich soil that could sustain astronauts on the Moon, according to Nasa.
Continue reading the main story
“
Start Quote
In about a tonne of material... you're talking 11-12 gallons of water that you could extract”
Dr Anthony Colaprete
LCROSS project scientist and principal investigator
Scientists studied the full results of an experiment that smashed a rocket and a probe into a lunar crater last year.
The impacts kicked up large amounts of rock and dust, revealing a suite of fascinating chemical compounds and far more water than anyone had imagined.
A Nasa-led team tells Science magazine that about 155kg of water vapour and water-ice were blown out of the crater.
The researchers' analysis suggests some areas of lunar regolith, or soil, must contain as much as 5% by weight of water-ice.
"That's a significant amount of water," said Anthony Colaprete, from the US space agency's Ames research centre.
"And it's in the form of water-ice grains. That's good news because water-ice is very much a friendly resource to work with. You don't have to warm it very much; you just have to bring it up to room temperature to pull it out of the dirt real easy.
"Just as a point of reference - in about a tonne of material, at about 5%, you're talking 11-12 gallons of water that you could extract."
The LCROSS spacecraft followed closely behind the spent rocket stage
The Nasa-led team has published six papers in the American journal describing the findings of the 9 October, 2009, impacts of the LCROSS spacecraft and its companion rocket stage.
The pair was targeted at the Moon's southern pole - at Cabeus Crater, a depression so deep and dark that the odds of disturbing ice were thought to be very good.
The rocket stage went in first, followed a few minutes later by the LCROSS probe which gathered imagery and other data just before it too slammed into the surface.
Another spacecraft, Nasa's Lunar Reconnaissance Orbiter (LRO), was passing close by. It also was able to study the plume of material ejected into sunlight more than 15km above the rim of Cabeus.
The suite of instruments deployed on that day has determined as much as 20% of this dust plume was made up of volatile compounds, including methane, ammonia, hydrogen gas, carbon dioxide and carbon monoxide.
In addition, the instruments saw relatively large amounts of light metals, such as sodium, and mercury. There was even a signature of silver, although in tiny amounts
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Debating Gold over on House price crash now
http://www.housepricecrash.co.uk/forum/ind...50257&st=15
This made me chuckle
Kilham
Just wait for the TV programmes:
'Bullion Bullion Bullion'
'Gold under the hammer'
'A Krug in the sun'
I am waiting for that and when there is one on pretty much every night, with repeats on Dave, then I will probably swap for other assets.
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If Deflation Wins, What Will Gold Stocks Do?
But of course we’ve got the biggie we can look at, and the seriousness of the Great Depression can give us a big clue as to how gold stocks behave in a true deflationary environment. From 1929 until January 1933, the stock of Homestake Mining, the largest gold producer in the U.S., rose 474%. Dome Mines, the largest Canadian producer, advanced 558%. In spite of the gold price being fixed at the time, gold stocks rose dramatically. At the same time, the DJIA lost 73% of its value.
http://www.zerohedge.com/article/guest-pos...-gold-stocks-do
Right on.
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Some sweet moves in the junior stocks today, against the general sharp downward trend on US stocks.
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Tribute to George Blake, a.k.a. "Zapata George"
6 July 2010: We were saddened to learn that "Zapata George" passed away over the weekend. A frequent guest on Financial Sense Newshour, George's signature "No Bull" style was extremely popular with our listeners and fans. His voice and his friendship will be greatly missed. —FSO Staff
How sad, no message seems to have been posted on Zapata's site . Did always strike me as a strange little fella but well meaning. I wonder what his subscribers do now, not that I am one.
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Seems they redesigned their site.
http://www.financialsense.com/
You can find the broadcasts under the 'NEWSHOUR' tab, then go to archive. You will see Big Picture, or in Depth... there you go.
EDIT I see the big picture has not appeared yet for this weekend.
The site isn't the only thing they've redesigned in recent months; the podcasts are a mess.
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Not sure if this has been posted.
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wow - i haven't seen it move this much in pounds for a long time - £811 at the moment and we don't even have the election result yet - a hung parliament and god knows what will happen to the pound.
edit: Probably rise, sell the rumour, buy the news
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No bubble here folks.Note that Gold rose about six-fold the first eight years into the bull market (it began in 1970). Ultimately it rose 25-fold. The Nasdaq from 1982 to 1992 advanced about four fold. Ultimately it rose 29-fold. The Nikkei advanced less than three fold from 1970 to 1978. From 1970 to 1990 it gained 19-fold. Gold is nine years into its bull market and has advanced less than five fold. See a pattern here?
I am already 'up to me guts' in the yellow stuff so am certainly biased but I like that paragraph above.
GOLD
in Gold, FX, Stocks / Diaries & Blogs
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Just trying to be right and sit tight.