azazel

agreed.

i woke up at 3am, to buy some gold shares before the ny close

 

yes, those higher libor rates are having an impact,

and if they suddenly drop, gold go go below support.

hence i bought in-the-money calls

To be clear, do you think this suggests the price of gold will fall heavily?

Which makes me think we're closer to 1975 in this bull run possibly.

Why? Did they have cats in old mustangs?

Looking at the big picture:

 

 

Any new comers to gold, learn from this chart!!

Interesting conspiracy theory, but laughable to anyone who's ever worked in a newsroom. I can just picture the morning news conference. "Right folks, our governmental and corporate masters have ordered us to come up with a fiendishly devious scheme to prop up the banks. Here's how we do it..."

 

The more prosaic explanation is that they're trying to fill space or airtime with whatever phenomenon has caught their eye lately, that someone has latched on to gold as a good story and that other news outlets have jumped on the bandwagon.

Respectfully, BS.

Sky news, BBCnews 24, radio 4 and radio 2 all running stories on gold when there are other major stories they could cover. Its hardly a no news day, is it? Some may have worked in a news room but have you worked with the lords that govern the BBC? What do you think they do all day? Yes I'm skeptical of the world around me but for good reasons!

Will we get platinum at the same price as gold? If so would it be a good switch?

Gold Rockets Past $5,000 in Heavy Trading

Jan. 21, 2012 (AP) For the fifteenth straight day, the price of Gold rose on record-setting volume, reaching a milestone few believed possible just a few short years ago. Roaring inflation and a fading US dollar, combined with the continuing stress and uncertainty of World War III, pushed gold past the psychological barrier of $5,000 (to gold bugs, the "Big Nickel"), to close at $5,108 per ounce.

Gold is now up an astonishing 66% since December 31, matching its percentage ascent of January 1980.

"It was another peak day," proclaimed an exhausted trader on the floor of the NYSE, whose daily order flow, he said, included hardly any gold stocks as recently as a year ago. "The orders for mining stocks and the Gold ETFs are pouring in so fast and in such large volume that the computers needed help from us humans on the trading floor."

Floor traders had been widely considered obsolete in 2008.

The excitement is thick and palpable in this bastion of capitalism, as each trader tries to scream louder than the next. Goaded by the fear of being left behind, gold buyers keep pouring in, and the price continues rocketing upward. "This is a once in a lifetime opportunity," shouted an ecstatic floor broker, who admitted he had been slipping in orders for his own account.

Meanwhile, outside the exchange, worried-looking buyers formed long lines at coin shops around the city. Already swamped with orders, the shops became financial refugee centers when a rumor ignited that Congress was considering confiscating gold, something that hasn't happened since 1933 under President Roosevelt. The rumor gained strength from last year's imposition of exchange controls. Supposedly needed for national security reasons, they gave rise to the "northern gaucho," a term used to describe Americans who risk jail time to slip dollars across the border into Canada.

More violence was reported in the coin shop lines again today. In Manhattan, one incident was so serious that a life-flight helicopter had to be called in when a women stabbed a man who reportedly had cut into the line and then tried to enter the shop without a ticket. E-tickets for coin shop entry are now required by a city ordinance, something many consider very Orwellian. Some bullion shops have gone a step further and placed armed guards at entrances, who are reportedly none too polite when frisking customers for weapons.

While most are stunned by the yellow metal's price trajectory, the rise in gold stocks has been even more dizzying. In spite of the tremendous gains they have had in the past year, the influx of new, first-time buyers has not slowed. Given the small number of real Gold and silver companies, the buying pressure is, as one gold bug noted, "equivalent to pushing the flow of Niagara Falls through a garden hose."

As seemingly every investor has learned by now, gold stocks are leveraged to the price of gold. While the metal is up five-fold in the last three and a half years, many stocks are up ten- and even twenty-fold. But it is the Canadian juniors that have shown the greatest leverage; a few of the better-managed companies have given shareholders returns of 50-to-1 or better.

"Our recommended Canadian stocks are up an average of 1,000% over the past three years," said well-known speculator Doug Casey, speaking to a reporter with the good luck to find him in a hotel elevator. "However, our better performers have returned 5,000% to date. Our biggest winner closed today at $101 per share; we first recommended it at 87 cents.

"Adjusted for inflation, gold is just now reaching its 1980 top," explained Casey. "This is something we've been expecting for years."

But joy for some is regret for others – especially those who sold in 2008, when the metal lost 23%. "I panicked during the sell-off that summer," lamented an investor. "I went another direction with my money, and I can't tell you how many times I've regretted it. I sold most of my gold stocks for a big loss that year. But what I really lost was all the future profits I threw away."

Scares from a fleeting rise in the Dollar and a whiff of deflation convinced much of the public to dump gold and gold shares back then. And yet, as Doug Casey commented, "That was the buying opportunity of a lifetime and the last time the train stopped at a station with a 3-digit gold number."

The buying is not expected to stop anytime soon. Time magazine just announced that its lead story in its upcoming issue will be a chronicle of the gold bull market that started in 2001, with a front-cover picture of a gold bull stampeding outside a derelict NYSE building.

With the widespread bullish sentiment for gold, it came as a surprise when someone in the elevator jokingly asked Doug Casey if he was considering selling. Mr. Casey gave no answer but got out at the next floor and explained that he needed to put something together for his subscribers...

Doug Casey, 30 Sep '08

Adrian Ash from Bullion Vault on Chris Evans radio2. Quite a good listen

http://www.bbc.co.uk/iplayer/episode/b00dpr3b/

forward to 27.30 mins into the program.

Guy from Bullion Vault was also interviewed on the Chris Evans thing on Radio 2 this evening. The PM one had someone from the world gold council I think.

Do you remmeber what time Paul tustain, BV was on? I don't fancy having to listen to Evans to find it as he winds me up!

There was various gold ramping on the news channels tonight too. This is no coincidence. Why are they all ramping gold? Seems contradictory to the repeated statements about how safe savers money is in the banks.

I think that they will stimulate lots of gold buying by the public and then banks and hedge funds will be selling heaps of gold to cover their losses, causing the price of gold to tank. This will teach the sheep to trust their banks not gold.

BBC have been running stories on gold today today. On radio2, after Jeremy Vines show on the two o'clock news, there was a short interview with Sandra Conway, manager of ATS. Click link below and forward to 2:00.00 after the northern cock story

http://www.bbc.co.uk/iplayer/episode/b00dpq6j/

Radio4 also had some stories on PM at 17.55 approx.

I bought some krugers this afternoon. ATS out of stock of everything other than Krugers - and looking at their sign-in book they've had a very very very busy day...

how much did you pay for the Krugers Bosworth?

platinum being spanked like a naughty child

I noticed. 1 ounce bar for £728.00 including VAT. A good buy? what do you think?

Just rang ATS. They said they have very limited stock of anything gold as there are only buyers, no sellers. Its ridiculous that the price charged is based on the spot price when they don't have any to sell due to massive demand. They have no platinum coins either. They have increased the spread (greedy buggers). That is hardly going to encourage me to sell . They buy 1 kg bars for £15450 and sell at £16600. coininvest are buy at £15580 sell at £16050

Interesting article copied from thread over at GIM.

Bill Holter's missive, from just now, via Bill Murphy, of GATA, via his excellent www.lemetropolecafe.com. (Worth subscribing to, by the way!)

"How Bill H sees it…

To all; we are standing at the proverbial cross roads. The proposed Treasury bailout will be signed this week. If one does not get done, I would imagine that within 48 hours the banking system would seize up and markets could not be opened. I believe we will get some type of plan, it will be ballyhooed as the cure all end all. This will probably be worth 500-700 Dow points to the upside. However, as with all the past "plans" this too will fail. It will not get to the core problem, and it will also create another problem that already exists but has not yet become public fodder. The public seems to be avidly against a bailout by 90-95%. Once the markets turn back down I believe civil unrest will only be a matter of time. The returning 3rd Battalion is not coming home to put their feet up and relax. The Bush administration is forward looking in this respect.

The core problem obviously is a massively overleveraged system that uses pieces of paper with numbers on them as money. The problem that already exists but has not yet made the rounds yet is the fact that our Treasury is bankrupt. Yes, yes, I know, the Fed can just monetize [print all we need] but that is the legal way to default. This in fact is what I see as the last and only alternative. This alternative will strip all value from those who have amassed wealth and stored it in banks, bonds, and paper in general.

OK, so we get the "plan", then what. I think we may have firm stock and credit markets for as much as 2 weeks. We may have only a day! The timing is difficult, the ending is not. The markets will begin to turn down and test this 10,600-800 recent low. At some point it will fail and it will be off to the races downward. This will be the absolute "ultimate game of chicken". Who will chicken out first and flee both the US bond and Dollar markets? I don't know, and it doesn't matter. The bottom line is that all it will take is one, or maybe no one. Maybe all it will take is just the rumor that someone is about to or already is jumping ship. This is how panics happen. This is what is in store for us.

This is a credit seizure, it is about solvency not liquidity. The Treasury is trying to make the banking system solvent while endangering their own solvency. The realization that the system is insolvent will cause a liquidity "black hole'. When it becomes every man for himself, margin rates will sky rocket and in many cases the margin itself will be called. This will start a forced liquidation that can only be stopped by the closure of markets and banks. We had the beginnings of a systemic run this past week as $169 Billion was pulled from money markets. The Fed responded by pumping $260 Billion into the system via the discount window. There were no bank lines per say as this was done electronically, but it certainly was the beginnings of a run. I believe that this run will soon spill over into the Treasury markets giving us both failed auctions and panic selling of U.S. debt.

Many of you have read Jim Sinclair's writings and warnings. He has had great advice in that withdrawing stock certificates, having little or no margin, and physical possession of your precious metals. As to physical possession, this means IN YOUR HANDS, NOT IN A BANK SAFE DEPOSIT BOX IN THE US! I believe physical ownership will become illegal in the U.S. and the current law reads that if a bank is closed, the safe deposit boxes must be opened in the presence of an IRS agent and an authority from Homeland Security. YOU WILL NOT GET YOUR GOLD BACK, PERIOD, END OF STORY!

As good as Jim has been, his projections on Gold going to $1,200, then $1,650 are now completely laughable. The Dollar and the rest of the unbacked paper currencies are facing an outright collapse. This collapse will most certainly be more than a 50% loss of purchasing power, then add in fear of war, systemic collapse, falsified vault holdings etc. and I can't see where Gold can be purchased for less than $5,000 an ounce a couple years out. If all I thought Gold was going to do was double, I would have no interest in it. I could buy and store coffee beans or bags of cement, as currencies collapse they should certainly double in terms of paper. Even this number of $5,000 is probably so stupidly underpriced that I, and many others will be laughing at my naivety.

In the words of Mr. Sinclair, "this is it". Please use this week to make all final preparations for a different world. The music will stop suddenly, when it does "you will have what have, and that's all you will have". There will be no opportunities to change seats until after this show is over. Please feel free to bring all the food and drink you please as none will be served until after the show. Once the show begins, you will no longer have access to your credit, debit or check cards. Very early in the show, your Dollars will no longer spend. This will be a truly unbelievable show as some will enter poor and leave with fortunes while other fat cats will exit virtually penniless. No matter how well prepared you are, this show will be ugly. Enter unprepared and "disastrous" will be an understatement. Regards, Bill Holter."

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Radio 2 neil young "heart of gold"

or you tube http://www.youtube.com/watch?v=c7M1Se-p7uk

Given that the bailout has hit some trouble, I would've expected stockmarkets to dive and gold to rise... So far, I seem to be 50% right...

It must be time for gold to go ballistic. Banks going bust and printing presses flat out and people still not flocking to gold!

They are still cheaper 2-3 quid than Ebays silver coins even paying the 17.5% (we pay for banksters rate)

I ordered some maples today before they disappear of the shelves before the rush

Can i really expect 2-3 day delivery as quoted or is it longer?

once the funds are in their account they are delivered 2-3 days.

Reply from Sonia Hellwig,

>>>>

Unfortunately we cannot switch back to the 7% in the UK now that we adopted the 17,5% rate. We are VAT registered in the UK and therefore apply the normal UK rate.

<<<<

Previously they were a mail order company based in Germany but now they are registered in UK

OK you silver monkeys!! I have some news.

I asked coininvestdirect.com if they plan to reduce the VAT rate from 17.5% to 7% next year I had two conflicting answers which I have copied below.

From Sonia Hellwig, London office

>>>>Regarding the VAT please be informed of the following:

The VAT rate for the UK will stay at 17,5% also in the future. The EC places limits on mail order companies and once these limits are reached companies can no longer ship at a lower VAT rate from abroad. Unfortunately we have to oblige with these requirements.<<<<

From Sara Espírito Santo

Marketing and PR Manager

Jewellers Trade Services Ltd

>>>>Regarding the silver VAT for the UK, according to the info we have available at the moment, we will be able to offer a 7% VAT for silver in the beginning of next year.

Nevertheless, we can only offer 7% VAT on silver until we reach our exporting limits to the UK and we believe we will reach those limits quite quickly.

Therefore, in order to take advantage on this VAT rate we suggest you place your orders at the beginning of the year as after our limits are reached the VAT for silver will be 17,5%<<<<

I will seek to get clarification on this, but it could prove to be a good buying opportunity.

this looks like a parabolic gold move to 1140 at least

I hope you are right but you could draw all sorts of lines on that chart and come up with any thing you like. Gold goes up and down and seems unaffected by resistance and support levels.

anyone else having problems with BV charts?

I'm not liking this rising wedge on the EUR / USD chart. We need to break out of this. A break above 1.46 here would be nicely bullish for gold.

 

ah you got the right forum this time?

Financial planner has posted his view on gold. He has often made some accurate calls.

It rose from $735 to $922 (I said $100 up) and fell back to $850 (nothing goes up or down in a straight line). Its a now c $870 and ended Friday on a strong upward move.

It'll be strongly positive on Monday and next week.

At $950/975 I'll watch it carefully. There is a chance it could fall right back down to $600. More likely rise to $1250/1400 next spring. But being careful, just in case.

Silver too.

Wheres Marceau gone? I would have thought all this action would have roused him. So, the question is are we on a low? I have some crap money but do I wait for a fall or are we looking at an imminent increase?

My wife's easy going about our 100% investment of STR fund. Perhaps we need a new thread for wives of STR husband that have spunked the fund on PMs! Depending on the price of gold, they could discuss torture methods or tasty cooking. :lol:

 

Perhaps you could make it PC and substitute the word "wife" for "partner".

I remember reading a study into the investment strategies of men versus those of women, it found that men took more risks and had more confidence in their own judgement than women and compared the performance of their portfolios. Women's portfolios significantly outperformed those of men, so perhaps the "wife" knows best.

Perhaps not. Was this study before the current collapse?