G0ldfinger

OK, so the London AM Fixing was $1,004.50, i.e. it's official now in the physical market. Gold making headlines on Bloomberg and DER SPIEGEL. The latter one cautioning investors, of course.

I might trade some at 35:1, although silver would still be fairly cheap then. So, maybe I won't.

I converted my wife's walk-in wardrobe recently: Cheers GOM. Much appreciated.

WJ, some here trade gold as if it was Google or Enron (i.e. on "technical" grounds). Others accumulate steadily and don't worry much about the daily/monthly fluctuations (the more "fundamental" approach). I am in the latter group. This is why I started the gold threads here on GEI (coming from HPC, where I "worked" on the original "super"-thread). My stand is that this is the biggest financial crisis ever (in the history of mankind at least) and that we only just got started (2 years ago). As my main indicators when I will sell gold I use the house:gold index and the Dow:gold index (check out the charts linked to in my signature). The reason is that these are real things measured against other real things, and the things I might want to buy from my gold (and silver) in the end might be stocks and property. We are far from lows in houses:gold or stocks:gold. So, I continue to accumulate precious metals in their physical(!) form. EDIT: See also my thread over at GIM for some more technical considerations: http://goldismoney.info/forums/showthread.php?t=195370 DrBubb: I somehow thought you only had 1 oz of (physical!?) gold?

People seem to be back "after Labour Day".

The UN currency thingy is a joke. You can't just create a world reserve currency. It must evolve. Because, otherwise, why would you trust it? So, momentarily there is gold, and that pretty much is it.

Silver will definitely kick a lot of ass over the next few years.

The madhouse HPC? Just look up the good old gold thread on HPC (maybe somewhere hidden in the investment section). Thousands of posts long. Many people from here (who left or got consecutively banned over at the madhouse [it's like a badge of honour]) posted on there.

I don't think that the Chinese will really default on their silver shorts. But it wouldn't be unprecedented: the US defaulted on their gold receipts on a much more massive scale in 1971. What the Chinese could do instead is of course backing the Yuan by silver and handing out pieces of paper to the people who are on the long side. That way they could keep the silver AND pump a lot of Yuan into the system at stable exchange rates. Just speculating here.

What "cliff"?

I can easily imagine 35:1.

It's an extremely low priced future. Sounds like a very bad idea to me: like 10% interest rates and similar, when everyone else pays 1% only. The deal is so good because there is some major risk.

I had no idea there was ANY price action on today's Sunday.

stateofjefferson on http://goldismoney.info/forums/showpost.ph...postcount=29159

Younger people who know about it are an exception. So I wouldn't expect too much from the present administration. How old was Bernanke in 1971?

Obama is too young to know about the monetary meaning and value of gold. That's why the US might really screw up here.

http://www.marketwatch.com/story/hong-kong...ndon-2009-09-03 This will only mean one thing: the grip of the Anglo-Saxon Empire on the world's gold reserves will weaken. One way out would be outright default on some of the gold obligations towards Asia. The US has shown how it works in 1971. Just feed them paper.

Did you forget a 0 here? I mean, we were at almost $900 29 years ago! There has been a LOT of inflation since then. Even if we went into a torrent of deflation, I see $5,000 minimum.

http://gold.approximity.com/gold-silver_watch.html ZOOM-IN: http://gold.approximity.com/since2008/Gold-Silver-Ratio.html

You'll know you have done very well when you'll buy an average house with 3,000 oz of silver. If you buy it for 1,000 oz, you'll have been a perfect timer.* *Now, that's assuming history repeats. At the moment you would need more than 15,000 oz to buy one. http://gold.approximity.com/1979-1980/UK_H..._in_Silver.html

I am looking for $100 minimum, but selling will depend mostly on what gold is doing and what the g:s-ratio looks like. I'd say we should look out for gold-DJIA at 1:1 or better, and g:s below 20:1.

COT are caught with their pants down on the wrong side of the market and if they do not manage to rein it back quick, they'll be forced to cover which will send it parabolic. cg, I think you're right. If China wants to relocate gold from London to Hong Kong, there will be a little problem in London IMO. Or does anyone think the banksters really just stored that gold there? IMO, this gold has possibly been shorted, physically sold etc. I.e. someone will possibly have to buy shed loads in the over the counter market. That's going to be expensive.

For gold it has been a very lengthy birth so far. But that's good, so we can accumulate more under $1,000. When the big money or China moves in, it will be over with cheap gold.

Silver is just going a tiny bit towards its theoretical equilibrium price as one of the two monetary metals. Nothing to get too excited about. We have seen absolutely nothing yet.