azazel

It was worth a listen. There was a woman from GMFS who said that she would not sell her gold at the moment but she did not think it would go much higher. (didn't make sense to me)

The program came over as a promotion for the gold for cash type places and was more of an encouragement to sell your "rubbish worthless gold that you have just kicking around" for real paper cash so you can buy a plasma as one example suggested.

On Jeremy Vines radio 2 show they are discussing gold. Talking about 2009 and all the sell your gold partys and websites, is it better to be buying gold in 2010 rather than selling it as in 2009. Sounds like the start of the mania phase. program starts at 12 till 2pm UK time and will be available on the iplayer later.

1080 looks like the floor before christmas. We should rally next week to test the 1100s again. Finishing the year with a close about 1033 will be the major bull signal for the new year.

 

And by the way, merry xmas to you all at GEI.

Do you mean $1133?

We need to get the thread for december sorted out BTW.

You missed my point. Dogmatic certainty leads to scrapping. It's when we see our ideas as limited and uncertain, and take them with a pinch of salt, that we end up with progress.

 

The lady in blue probably has an unfair advantage with gold bars in her bag.

Indeed. The lady in red has paper in her bag (dry powder) and the lady in blue has gold. No contest really.

Agreed Jake, I advise sticking to sovereigns or one ounce bullion coins I would never buy a proof coin unless it was priced the same as a standard coin and I am not interested in numismatic value.

 

I would not dismiss ebay completely - if you have patience, you can find local sellers and arrange to pick up in person and pay cash - there may be more available than the one piece advertised. Of course, all due diligence should be observed - I don't use ebay much now but I advise looking at the wording of the ad - is there some history? Is the ad well written etc? The seller can be contacted and a telephone chat before the end of the auction should be able to tell you what kind of person you are dealing with. I would also advise buying from a coin dealer - especially if you have never bought before - you will get a feel for the real thing and will be unlikely to be cheated when buying privately.

 

It is not rocket science - when you have handled some sovs or one ounce bullion coins you will be able to feel a copy immediately.

I have never been ripped off on ebay. I have bought a few one ounce gold items and worried about it.Worst case was a woman who sold me a crown as a sovereign but she refunded me the money. Best to stick with lower priced sovereigns and half sovereigns from sellers with reasonable feedback. I would only use paypal unless the seller had very high feedback. Also, it would have to be recorded or special delivery post. Beware of sellers charging £5+ for sellers standard rate postage as that might be second class 30p stolen jobbie. I have bid on loads of stuff in the past and only won a fraction of the items I bid on, but had some bargains. Its more of a recreational thing though.

About every 2 years or so gold has had a massive upleg. When it moves like this it really moves and many of the gold bulls are surprised at the speed.

 

See the 2 articles I posted earlier to put it in the context of the whole bull market. This has happened before in the winters of 07-08 and 05-06.

 

If it goes like the 2 previous big uplegs this could continue until the spring with some minor corrections along the way.

My view exactly. +40% from $1000. Although I doubt it will be as predictable as I predict.

Here is the GS target figures from the article:

 

We therefore raise our gold price forecasts to $1200/toz, $1260/toz, and $1350/toz on a 3-, 6-, and 12-month horizon, respectively, with a 2010 average price forecast of $1265/toz and a 2011 average price forecast of $1425/toz. While an earlier than expected tightening of US monetary policy presents a substantial downside risk to gold prices in 2010 and 2011, we believe the near-term risk to our gold price forecast is skewed to the upside.

 

So GS see small incremental increases over the next 12 months.

These gold forcasts are always wrong. How can they have any credability? "They’re raising their 12-month forecast to $1350 per troy ounce versus a previous $960." If they are forecasting $1350 gold then gold will be at $2000 next year! Personally, I recon cosolidation next year and moves up in 2011 peaking in January 2012 just in time for the end of the world.

Sell and take profits or stay in "Buy and Hold"

http://arabianmoney.net/2009/12/02/are-she...gold-tops-1200/

On days like this, when the gold doubters pop their corks, I look at the 5 year charts. I often look at the 5 year charts as the noise is removed.

Gold at £721. Is that a new all time high?

Nah, £723 is

The 'GOLD BUG' label really pi$$es me off for some reason.

 

This is more like it -

 

The price of gold has gained 32 per cent this year – and hit $1164.30 an ounce on Monday. With thousands more 'very wise investors who don't like getting shafted by corrupt governments/banksters' piling in...

 

Bloody $heeple...

 

Rant over.

Id rather be a gold bug than a paper bug anyday.

Dunno if this is Financial Planner, AKA Jonathan Davis in the FT.

http://www.ft.com/cms/s/0/5416fbc0-d604-11...bdc0,s01=1.html

Ignore Buffett – gold’s time has come

By Jonathan Davis

Published: November 22 2009 11:37 | Last updated: November 22 2009 11:37

There are many reasons why sensible columnists prefer to steer clear of writing about gold. One is that you get the weirdest responses. Twenty years ago they would arrive in funny shaped envelopes, often in green ink, often from individuals with extraordinarily peculiar views about the world. These days the risk is that anything you say will be instantly picked up, recycled and commented on in a thousand online blogs. Not all of that community are interested in constructive dialogue. Gold retains its capacity to excite the most extreme polarised views.

A second reason for thinking better of writing about gold is the Warren Buffett problem. When asked for his views about gold, he typically replies with the answer, along the lines that gold has never been a good store of value and is unlikely ever to interest him as a home for his money. Gold, he says, “gets dug out of the ground in Africa or some place. Then we melt it down, dig another hole, transport it halfway round the world, then bury it again and pay people to stand around guarding it”. It has, he argues, “no utility”. There will always be other things that he would rather own.

EDITOR’S CHOICE

A steady hand at the tiller wins out - Nov-15

Lords of finance, culprits of crises - Nov-08

Japan sovereign debt crisis looms - Nov-01

Repeating the past will add to regrets - Oct-25

Our quest for a far less risky future - Oct-18

How exactly the mighty have fallen - Oct-11

Although doing back-flips when circumstances change is one of Mr Buffett’s greatest strengths, he appears to have been true to his word in never having made a significant investment in gold or gold shares. In the late 1990s, he did briefly place a large bet on the price of silver, based on a personal analysis of the supply and demand equation for the metal which turned out to be quite flawed. He has been known also to recycle Mark Twain’s famous description of a gold mine as a “hole in the ground with a liar at the top”.

If the world’s greatest investor doesn’t think gold deserves consideration, has he got a point? A serious criticism of gold is that it may not in the strictest sense be an investment, in the Ben Graham sense of generating returns that can be analysed and valued. It can be lent out, for sure, but that has to be set against storage and insurance costs. While physical supply and demand clearly play a part in determining the price of gold, its performance is influenced by fluctuations in demand from investors (which a Grahamite purist might label as speculative interest).

The arrival of liquid, freely tradeable exchange traded funds in precious metals, some but not all of which are backed by physical collateral, is further encouraging this trend. With the sharp run up in the dollar price of gold this year, coupled with a notable recovery in equity markets, new gold funds are emerging by the week. John Paulson, the hedge fund manager who did so well out of the credit crunch, is the latest to launch a gold fund. Such high profile launches can only heighten interest in gold and more highly geared gold shares, and might in normal times be seen as early evidence that gold is entering a speculative bubble and must be heading for a nasty fall.

However, these are far from normal times. While the seeds of a future bubble in gold are being sown, we are a long way away from any kind of climax. Despite growing media attention, gold remains surprisingly underowned by private investors. More people talk about it than actually own it in volume. Every trend-following speculator who is buying gold today for bandwagon reasons is, I suspect, comfortably matched by seasoned wealthy and professional investors accumulating gold for traditional defensive reasons, not to mention central banks desperate to reduce their dollar dependency.

Whether or not you care to define it as an investment, gold offers protection against the devaluation of the dollar and the eventual re-emergence of inflation that Mr Buffett himself has identified as the inevitable consequences of the financial crisis and governments’ response to it. While he may be right that buying the Burlington Northern railroad is a better way to profit from eventual recovery in the global economy, the rest of us mere mortals will not be easily convinced to dump our gold and other commodities yet.

The point about gold is not to own it for some intrinsic reason, as gold bugs do, but because today’s unprecedented economic conditions make it a sound and defensible two way bet on the future. If gold’s time is ever going to come, we are living through just such a time now.

Although a sharp upward snap in the dollar looks possible in the short term, the real gold bubble still lies ahead.

Blimey, gold not hanging arround. £702/$1157

£698/£22440

$1151/$37000

Are these new records?

Anyone thinking of selling some in this rally?

Shamelessly pinched from HPC, SocGen Sounds The Alarm, Again. Either cgnao was 100% correct guaranteed, or he just got a job with socgen!

Governments may only have one choice, and that is to hyperinflate their way out of debt by simply printing money. When money is printed, everything loses value, including debt. Welcome to Weimar.

Government bonds would be purchased by central banks just as has been the case in quantitative easing measures to date. Yields would fall to near zero on longer dates. Gold would absolutely soar. Food would become very expensive.

I repeat: this is not a prediction, this is a warning.

http://www.fnarena.com/index2.cfm?type=dsp...307609A2A4309B3

Silver doing nicely today. IMO, the USD silver 5 year chart looks like silver is still correcting from its last move to $21, just as gold did at $1000. The next move in silver will be to $30

Does anyone want to buy some gold coins off me? I have some Austrian Ducats of various sizes and a half kruggerand and perhaps some others. I will sell them for a reasonable price that benefits both of us compared to using ebay.

Gold at $1115 keeps setting new records. Get ready for the pound slide next IMO.

It seems as if Pixel8r has nailed it:

 

http://gold.approximity.com/gold-silver_watch.html

Yeah, nice 1 Pix. I wonder if the pattern will repeat again. Peak in feb-may 2010, correct over the rest of 2010 and first half of 2011 (pound fall aginst dollar) and then rocket again in second half of 2011 and spring of 2012 just in time for the end of the world in december 2012....Dooh!

EDIT: news of this action in the gold market may even start to get the wider public's attention. Well thats assuming they are not all too busy stuck in their over-priced mc mansions masturbating over property porn show re-runs from 2007!

Its not even made the MSM news from what I can see.

Today seems to be a day the cartels 2% rule is being well and truly broken, +2.33% and still climbing.

Congratulations to all the gold bulls who anticipated golds move up this year. $1085

we ought to place bets on $1100 being breached. My guess is ........friday?

Yes, it should be increasingly obvious that gold is now no longer considered a commodity, or inflation hedge, but considered a currency and has been in the process of "monetization" by investors and CBs.

 

CBs [mostly Asia] without a decent core holding will continue to build. As a currency, I doubt the price will explode to the up-side, by some sudden flood of liquidity, but incrementally climb as modern currencies slowly decline.

 

That said for the long term, if there is another credit crunch episode, gold may slump a little on forced liquidation, but would recover quickly.

If demand for gold and silver exceeds supply, then the price would explode to the upside. Modern currencies can always print more to meet demand.

Im supprised that the Indian central bank buys 200 tons off MFI when they could have bought it from the comex.

I never thought they would sell, they must be desperate.... Seems to be extremely bullish for gold, gold up $20/£15 today and currently @ $1,065.95/£650.19, it looks like we might be breaking new barriers tonight in USD! I guess the IMF are hoping to buy it back after the correction...

 

IMF Sells Gold to Central Bank of India, Netting $6.7 Billion

Well thats half the 400 tons of MFI gold sold already and they are talking about selling it over the next few years. Hardly a threat to the gold price!

I buy silver wire from a couple of different companies azael, I will assume you are talking a round cross-section but how long and what diameter?

I think about 50 meters of 1mm diameter wire. Is it 999? Is bairds the best place to get it from? Does it cost much more than bars for the same weight?

I was thinking of 3 cores for the ballanced interconnects and whatevers left for the speaker cables, which I could increase if it didnt look thick enough.

thanks id5