narco

This is not easy to answer. Sure gold might get the smackdown in dollars but I'm guessing you're buying and selling in GBP?

I agree 100% but my short term reasons are 3 fold. 1) UK dealers are taking the piss with premiums. This is probably due to a lack of supply over here but check out apmex.com in the US and look at their spreads 2) Sterling is toast but it will surely get a significant bounce at some point before the decline continues. 3) If our coin prices don't correct then that's fine. I'm well stacked anyway.

Nice double top on the sterling chart. I'm not buying gold at £600+ for a coin, nice joke. Supply is just now starting to come on the market and Sterling is way overdue a dead cat bouce.

Nothing but bullish to see here. Check out the weekly.

Buy the dips?

Gold Surges Amid Deflation Concern; Silver, Platinum Rebound http://www.bloomberg.com/apps/news?pid=206...fer=commodities Nov. 21 (Bloomberg) -- Gold rose, heading for the biggest weekly gain since September, as the global economic slump dragged down asset prices and boosted the appeal of the precious metal as a store of value. Silver and platinum also gained.

Hugh Hendry will be buying a safe and packing it with gold bars in 18 months time. Right now though he likes 4.5% on German Bond yields. http://www.cnbc.com/id/27835645

Nah, needs to be convincingly over $800.

Totally agree, im still a buyer and will be holding firm for a good few more years until something gets resolved with regards to currencies. Today looks like a bit of a squeeze going on but i'm not feeling overly bulish just yet. I think we'll see plenty of more smackdowns on this journey.

Need to break out of this before getting too excited.

oil to gold ratio almost 15

Silver Forward Rates 1month 2month 3month 11-Nov-08 0.26429 0.37857 0.40000 12-Nov-08 0.25833 0.36667 0.54500 13-Nov-08 0.14286 0.28571 0.38143 14-Nov-08 0.12000 0.20833 0.19500 17-Nov-08 0.14286 0.20000 0.21000 18-Nov-08 0.12571 0.12571 0.20714 19-Nov-08 0.05714 0.05000 0.17857 20-Nov-08 0.06167 0.09000 0.21833

GBP/EUR monthly = Ugly

That Euro gold chart really doesn't match up correctly with bog standard Elliot wave theory.

That seems reasonable to me. Everything seems to be pointing towards a medium term rally in stocks followed by a full on cratering next year, 1929 style. We've already seen how the dollar can act in this kind of situation. Sure, the paper gold dollar price could potentially go lower but I would be certain you wont be able to buy 1 ounce gold Britannias for less than £500 again.

Did you also take his advice on the 16th March? Gold $1000 and Bullish, Silver Boxed in for a Breakout Commodities / Gold & Silver Mar 16, 2008 - 05:18 AM By: Merv_Burak http://www.marketoracle.co.uk/Article4031.html

Why stop at $350?

Where's the cheapest place to order a silver kilo bar online? Guernsey mint have them priced at £233 which is reasonable but I can't be bothered filling in and submitting an order form.

How strange. Read this post... https://www.kitcomm.com/showpost.php?p=4015...postcount=11774 I just got off the phone with a VERY highly regarded, veteran bullion dealer. Here is the gist of what he said… *The physical market is being flooded by 400 ounce bars, the kind traded on the Comex. *The markings on the bars suggest it is IMF gold, or similar gold owned by various central banks. *Much of the gold is of the "Fed melt type," from the gold which was confiscated by the US government in the 1930’s. He went on to say this could be US gold, or Fed melt gold bought by other central banks from the US.

Imagine reports of widescale delivery failures? The price would probably double or triple overnight.

Wow Gold Spot $698.05, Gold Dec $694.9 Thats a significant difference?

Gold was in backwardation at the lows earlier. Spot Gold: 704.50 DEC 08 Gold: 703.70

I'm really not so sure the gold cartel are in control anymore, as this warp speed deleveraging process is simply crushing the leveraged paper gold system. The last thing the cartel will want is paper prices so out of sync with reality that physical starts being demanded from the exchanges en masse. This is where default could become an issue and the whole paper scam may be exposed. Imagine $600 paper gold but $200-$300 premiums within the retail sector? This is a situation that cannot last. I'm watching closely for Backwardation for a sign we are approaching this moment.

Erm hasn't LIBOR dropped over the last few days. Something is up here.

Gold also went into Backwardation for a short while today. Maybe we shall get a nice upleg from here.