marmite

Isnt the 28th futures expiry day ??

Trading terminates on the third last business day of the delivery month.

Someone is pushing the price down, maybe they are concerned about physical delivery

I have marked in my calender the usual physical shortages at the bullion dealers in the coming weeks as the price drops

For anyone who missed this

Main stream media talking about gold price manipulation.

http://www.cnbc.com/id/15840232/?video=1538347357&play=1

Summer doldrums starting me thinks. Hopefully a few down weeks with a low in August, my fave buying time of the year . A good indications is when sentiment over at Goldismoney is at its lowest

Holly cr*p, you seen the Dow !!!!

This is why you dont swap gold for a plasma tv

Price looking good in £ this afternoon

Came to my senses last week and cashed in my indexed linked savings certs (nearly out of sterling altogether now)

 

Bought some physical this morning and put a bit in to bullionvault. Fully expecting a takedown now!

 

The 1st krug I ever bought was £406. I think today they were £815! thats deflation for ya!

Krugs @ £815, thats nothing, get a fractional bullion coin stick in a plastic capsule and today it sold for £1610 an ounce, wow !!!!!

1/10 eagle 2007

http://cgi.ebay.co.uk/ws/eBayISAPI.dll?Vie...STRK:MEWAX:IT1q

Blood, sweat and luxuries, bbc3 http://www.bbc.co.uk/iplayer/episode/b00s5..._Luxuries_Gems/

Six young British consumers swap their luxury lives for the simple mud huts and shanty towns of Africa and Asia to work alongside the people who mine, manufacture, process and recycle luxury goods.

In Britain today, what were once luxuries are fast becoming everyday items. From electrical gadgets to leather handbags and shoes, as more and more is consumed, products are increasingly disposable. Would consumers care more if they knew the human cost of making luxuries?

The Brits head to the isolated mining town of Ilakaka in Madagascar to discover where the gems and jewellery sold on the British high street come from. In the vast open-pit mines they join hundreds of workers in chain gangs digging for one of the most sought-after gems in the world - sapphires. When the back-breaking work becomes too much for James, Alexandria and Lucy they're shocked to discover the alternative - a makeshift 50-foot-deep mine shaft accessed by rope and pulley.

Soon it's not just the extreme working conditions and hand-to-mouth existence of the locals that shock the Brits, but the value of the rough stones compared to the expensive shiny jewellery for sale in Western shops. Will they have the same love for luxuries again? Broadcast on:BBC Three, 12:45am Friday 23rd April 2010 Duration: 60 minutes Available until: 9:59pm Tuesday 25th May 2010 Categories:Sign Zone, Factual, Consumer

Next week leather and coming up in a few weeks Gold

Real eye opening stuff

Is gold still way undervalued ???

 

The SAS give their soldiers gold soveregns for emergency use. These coins can be used to aid travel in a hostile environment as its a recognized currency.

 

With all this airport chaos caused by the Icelandic volcano, there are numerous stories of people paying £2000 - £3000 stirling to cab drivers / van / lorry drives for passage to Calais, France. These are relative short journeys of 200 to 600 miles from france / spain / norway / greece etc.

 

Using the old safe journey wisdom, thats a cost of 10+ gold sovereigns

 

Yes, people are trying to make a profit, but that is the way the world works ( Supply and demmand ). It really shows that gold could easily have very long legs from here in times of strife

This is a longer term view by the way. I agree with the above post, we will see summer doldrums again, which will be a nice buyin / add time.

Is gold still way undervalued ???

The SAS give their soldiers gold soveregns for emergency use. These coins can be used to aid travel in a hostile environment as its a recognized currency.

With all this airport chaos caused by the Icelandic volcano, there are numerous stories of people paying £2000 - £3000 stirling to cab drivers / van / lorry drives for passage to Calais, France. These are relative short journeys of 200 to 600 miles from france / spain / norway / greece etc.

Using the old safe journey wisdom, thats a cost of 10+ gold sovereigns

Yes, people are trying to make a profit, but that is the way the world works ( Supply and demmand ). It really shows that gold could easily have very long legs from here in times of strife

Based on this observation it would appear that a lot of gold is now in strong hands and will not budge till we see higher prices.

Does anyone have any idea the quantity of gold the cash4gold outfits process in a given day/week/month?

I have a m8 in the jewellery trade who makes weekly trips to the one of the refiners in hatton garden to sell accumilated scrap bars. He has already melted the scrap down into unrefined mixed 9ct/14ct/18ct/22ct bars. He always waits until he has accumilated £1000+ worth of scrap before melt .The bars are then either sold as scrap to the refiner or refined and assayed for the customer to reuse in the trade. The refiner has 6 processing windows which are only open to vat registered traders ( ie no joe public ). Each window has a cash float in the morning for buying and once its gone its gone for the day and they stop buying until the next day. He reckons you have to get there early morning before lunch or all the windows are closed ( this was not the case a year ago, windows where open until close of business at 5pm ), he guesses that the float for each window is in the £100k area.

This is all hearsay but interesting none the less.

These have all gone too. Pity we don't know how much they had in stock to get an idea of the demand out there.

As mentioned further up the thread, watch ebay. Supply is well down for 1oz, half oz and quater oz coins and have been for about 6 months. What does find its way to market sells at a higher spread than the bullion dealers. There are people out there spending real money under the radar.

The scrap dealers in the UK are really busy. The assay / foundry offices run out of money by lunch time / early afternoon ( some have upto 6 windows with a huge wad of cash each first thing in the morning ) with the amounts of gold comming in from the wheeler dealers, that they have bought off the public. They are then having no problems selling it off to the mints.

Very difficult to gage how much bullion the coin dealers have tho in their stocks. They are always cagey about these matters.

These CID deals are selling out quicker and quicker every month or so. All 1/2 oz coins gone in a matter of 12 hours ( 6 of those people are asleep or they dont ship too ). This time last year the deals would last all weekend until at least Sunday lunch time.

We dont know how much stock they had but it could be a indication of demand.

That's quite funny, being gold loses value being "old stock". I think the old bite test maybe in order

They only make money on the spread, the price of the gold doesn't matter to them, its all about shifting stock

They are just trying to shift old stock @ spot.

They have had these in stock for ages and bought them well below the spot price today.

CID have a special on 1/2 oz Libertads this morning, for anyone that may have missed it.

Fri 11:32am Goldman Charged With Fraud by SECat TheStreet.com

Fri 11:31am Goldman Is Charged With Subprime Fraudat The Wall Street Journal Online

 

Goldman Sachs Group, Inc. (The)

(NYSE: GS)

 

Real-Time: 161.29 Down 22.98 (12.47%) 11:36AM ET

 

HAHAHAHAHAHAHAHA.....

Could be a buy in time

Anyone got a target

£3.285 million for 5kg of gold and 1.5kg of silver, now thats a mark up

Anyone watching the program on channel 4 about the Saxon hoard ???

Apart from the historic significance ( which is priceless ), i was surprised to find out that it was 5kg of gold and 1.5kg of silver. Not a bad stack at all, but not a huge amount ( 150 - 160 troy oz )

Maybe we need a fight club forum where these 'debates' can take place so that we can just read the content that we come here to see.

+1

Fully agree, could we please stay on topic within the Gold thread. Another thread can always be opened for " Fight Club "

Looks like there are still a few buyers out there of physical

Lots of negative views on gold at the moment once again I refer back to Sparky's comments over at GIM. http://goldismoney.info/forums/showthread.php?t=429641

The past few years have shown Jan - Mid March as very positive for gold

I remember during the last two major run-ups, there was a noticeable stumble in the price in the November/December time frame. They looked like this:

July 2005: $420

Dec 2005: $540 (+29%)

Dec 2005: $485 (-10%)

May 2006: $730 (+51%) Total gain +74%

Aug 2007: $650

Nov 2007: $850 (+31%)

Dec 2007: $780 (-8%)

Mar 2008: $1030 (+32%) Total gain +58%

Today resembled the beginning of the same characteristic. I think a reasonable model behavior might look something like this:

July 2009: $900

Dec 2009: $1225 (+36%)

??Dec 2009: $1100 (-10%)

??Apr 2010: $1400 (+27%) Total gain +55%

I've tempered it a bit, because our seasonal summer launching point of $900 was already 25-30% above the October 2008 lows, which was not a characteristic of the previous run-ups.

The other competing scenario (at least in my mind) is that a drop to the $1050-$1100 range is followed by a return back to the $1225 high in early 2010, and that ends up being the peak for the year.

I think these two scenarios are equally likely. JMHO.

For anyone who is still bullish on gold CID are doing a good price on 1oz Gold Lunar Mice / rats £713 this weekend

http://www.coininvestdirect.com/main.php

For those that need a bit of cheer

Sparky over at GIM has a interesting thread, lets see how it plays out over the next few weeks ????

http://goldismoney.info/forums/showthread.php?t=429641

remember during the last two major run-ups, there was a noticeable stumble in the price in the November/December time frame. They looked like this:

July 2005: $420

Dec 2005: $540 (+29%)

Dec 2005: $485 (-10%)

May 2006: $730 (+51%) Total gain +74%

Aug 2007: $650

Nov 2007: $850 (+31%)

Dec 2007: $780 (-8%)

Mar 2008: $1030 (+32%) Total gain +58%

Today resembled the beginning of the same characteristic. I think a reasonable model behavior might look something like this:

July 2009: $900

Dec 2009: $1225 (+36%)

??Dec 2009: $1100 (-10%)

??Apr 2010: $1400 (+27%) Total gain +55%

I've tempered it a bit, because our seasonal summer launching point of $900 was already 25-30% above the October 2008 lows, which was not a characteristic of the previous run-ups.

The other competing scenario (at least in my mind) is that a drop to the $1050-$1100 range is followed by a return back to the $1225 high in early 2010, and that ends up being the peak for the year.

I think these two scenarios are equally likely. JMHO.

Richard over at weightoncoin is doing a good 3 day deal on 1oz 2003 britannias incase anyone is interested.

 

2003 1oz Gold BRITANNIA - Special Limited Offer - 3 DAYS ONLY

 

FIXED PRICE - £749.00 - LAST 40 COINS

 

Richard Anderson - Director & Principal Dearler

 

Weighton Coin Wonders

Only 13 coins left now. Thats 27oz in 24 hours, £20,223 by one small dealer, whose service is excellent but prices can sometimes be a bit higher compaired to CID.

Lots of people out there willing to pay for physical even tho we are at historic highs, that has to tell us all something.

I dont think we should sweat to much about the $30 fall today. As the commentators have being pointing out for years, this is a gold bull, get use to the swings. We will see $100 swings per day in the future before this ends.

Richard over at weightoncoin is doing a good 3 day deal on 1oz 2003 britannias incase anyone is interested.

2003 1oz Gold BRITANNIA - Special Limited Offer - 3 DAYS ONLY

FIXED PRICE - £749.00 - LAST 40 COINS

In this crazy Gold market, it is rare to get a REAL bargin, but Weighton Coin Wonders have found you one. In order to raise 'cashflow' for the influx of 2010 products due for release shortly, we are clearing some coins at a fixed price and offering them first to our registered clients.

CURRENT GOLD PRICE - £720.00 per oz

We have a limted quantity (40) of the 2003 1oz Gold BRITANNIA coins, and these will probably be the last of these we will see in a quantity. These are available to purchase at a FIXED price of only £749.00 - THAT IS ONLY 4% over the spot gold price. This price is limited to our last batch, and will only be available at this price until the 1st December 2009. After this date, if still available they will revert back to our usual price of 12% over spot gold - currently £799.00 each.

GET THEM WHILE YOU CAN

Kind Regards

Richard Anderson - Director & Principal Dearler

Weighton Coin Wonders

one thing to bear in mind is the thin markets at the end of next week due to the Thanksgiving holidays. The Cartel may use a thinner market to push the price down or just as likely the chinese may push the price up. I expect a wild week what with option expires and the holidays.