Bobsta

I haven't got a huge amount of skin in the game right now (thank god) but can totally understand how you and others who are heavily "on board" must feel right now. Dr Bubb, you still holding those calls?

The 1.30pm and 4.30pn smackdowns were a few minutes late today. But still...... you could almost set your watch by this stuff.

Good call for today, although slightly later than usual. I picked up a staggeringly tiny amount of silver at 14:10 (time, not price).

The Contrarian Investor feels deflation is here: http://cij.inspiriting.com/?p=514

In for a small amount at $15.75. Let's see if that's the kiss of death.

I'm still taking a break and kinda enjoying sitting on the sidelines. Especially as silver is now quite a bit lower than when I stopped out. Being "out" certainly reduces stress levels and allows you to look at things slightly more objectively. So, I'm still very much "active" in my interest in G&S. I'll just be thinking a lot harder about what actions I take. Silver at $16/oz would be pretty compelling I reckon. I have some GoldMoney paperwork sat on my desk that I really should send off...

Time to re-ignite this thread? Ready to explode? Or ready to continue dribbling downwards for a few more weeks?

I'm all sold out now too. Every single one of my stops (even the ones set so low you never want them to trip) have tripped. So, from a trading perspective, as they say on The Dragons' Den: "I'm out." My physical in BV is safe... and I honestly don't care about that (which is why I can understand the feelings folks have about holding physical - it really is nothing to worry about - you can just sit and hold). We've been here before, though. And I'm old enough and dumb enough to know the risks. I'm a tight git in regular life and (unlike some of you guys) I am holding down a day job which partially subsidises my losses. LOL... Maybe we need a "Traders Anonymous" forum/thread (like "Gamblers Anonymous" but with a teeny bit more science). I'm gonna take a few days out... and if I ever manage to get my head above water, I might post a chart of my P&L ... it's like the mother of all rollercoasters. And yes, GF, you're spot on. We are the "margin monkeys" ... when it's good, it's great, when it's bad it's frikkin awful! Thanks for the hugs Steve.

I'm glad most of you seem to be enjoying this dip in G & S. No, really! Personally I prefer not to lose money in something I've already invested in so that I can buy at a lower price. But hey, at least some of you are happy, even if I'm pretty miserable! Somehow this seems quite apt right now: http://uk.youtube.com/watch?v=5n6chxpEINs Roll on September!

Scrub that. Oil now nearly $2.00 above the dip. Come on Gold!

Oil now nearly $1.50 above it's dip at 16.40 (BST) today.... yet Gold is at its lowest. Not good.

I appreciate this is still very early days (and I don't want to jinx things), but Oil is putting up a pretty good fight so far.

Ah, OK. My mistake... glad to be proved wrong! Diversification might be the way to go.

Agreed, I chose Zurich. On the price front it doesn't really matter as although the purchase price is higher, the resale price is also higher. The one thing to point out is that BV charge you a "holding fee" on a monthly basis per vault. So I'd advise you pick one vault and stick with it. If you spread your gold around you'll pay multiple management fees. I chose Zurich. It's kinda cool thinking "I have a kilo of gold in Zurich"

I hope you took our advice Laura! $924.20 and rising. Silver on a tear too at $17.78

I'm no financial advisor but if you're buying physical it really doesn't matter if you get a mini dip every now and then. $910 is a bargain.

That's such an excellent article GF. I quite agree.

So... to take my mind off watching G/S I've been playing a little with the graph in this article. Go HERE, and select "Large" for the size at the bottom-right of the chart. Now set the units to: "Change, Billions of Dollars" and the date range start to 1969-01-01 .... refresh the graph and notice how every time the Fed has loaned money in the past, it's been paid back soon after. Then look at today... shorten the time range if you like... and you'll see that so far they've just leant and leant and leant. Some of it got paid back right at the very start of this mess, but since then, nothing. And some say what's going on now is deflationary. How the feck is this deflationary?!

Not that I know of. Two "Eurozone" banks sold some gold earlier this week and it was announced yesterday (I posted it). Is that what you're referring to?

Silver's taking a spanking @$16.81. Bloomberg's commidities homepage also doesn't make great reading right now: http://www.bloomberg.com/news/markets/commodities.html

I think it's just broken today. It should be live, not delayed, and whilst the silver price is spot on, Gold is stuck at 909.10 on my Kcast ticker, whereas it should be down nearer 901.

No commentary yet but Dan Norcini mentions it in his daily update. He also says Gold's support looks "tenuous" at this level which, frankly, is a bit of a worry. I don't think I intend taking any action, other than not checking the price so frequently.

But at the same time you get this sort of bizarre reporting... Sentiment was boosted by Merrill Lynch's steps to clean up its balance sheet and by a further fall in the price of crude. "Merrill Lynch kitchen-sinking its bad news has given banks a fillip in the U.S., which has also read across to the UK," said Richard Hunter, head of UK equities at Hargreaves Lansdown. "Also, this afternoon there has been weakness in the oil price, helping on both sides of the pond," he said. So, let me get this straight... issuing LOTS of bad news all at once is somehow now GOOD?!?! (from ADVFN/Thomson Financial in an email - no link)

Just seen this... -------------- ECB-Gold reserves drop by 0.6 bln euros in week 29 Jul 2008 - 14:08 FRANKFURT, July 29 (Reuters) - Gold and gold receivables held by euro zone central banks fell by 0.6 billion euros to 208.37 billion euros in the week ending July 25, the European Central Bank said on Tuesday. Net foreign exchange reserves in the Eurosystem of central banks rose by 0.6 billion euros to 166.1 billion euros, the ECB said in its regular weekly consolidated financial statement. Gold holdings fell because of sales by two euro zone central banks, which were consistent with the 2004 Central Bank Gold Agreement, the ECB said. For details of the report, please see the website: http://www.ecb.int/press/pr/wfs/2008/html/fs080729.en.html ((Frankfurt Newsroom +49 69 756525, frankfurt.newsroom@reuters.com)) -------------- I wonder what they're spending it on?! Bail-outs?!

I just love Bloomberg...