marmite

I agree UP or DOWN I might also add it could stay the same Only Joking I think its anyones guesse and it opens up so many questions. Did the PPT bash gold down before announcing this news ??? What do they have planned for tomorrow ??? Is this inflationary ?????????? Are all Financials to big to fail, in which case people will buy ????? I think short term, its flick a coin and take your chances. Longer term, hold gold. If it matters I bought on Thursday as was fed up of watching the £ crumble against the $. Cant believe gold has had such a bashing of late and it still cost me the same as it did back in December in £ terms

I agree too Maybe a deflation / inflation thread can be started for this conversation.

Incase you havn't seen it there has been a Silver Sammy sighting and he's not happy http://goldismoney.info/forums/showthread....0615&page=2 Let me explain it to you: if Oil goes under $100 & the metals fall...ITS ALL OVER! For real, at that point just wait for $4 or $5 & buy in again there...the bull has 2 broken legs.

Higher Earners Now Hit By Mortgage Repossessions http://www.telegraph.co.uk/money/main.jhtm.../bcnmort105.xml Mortgage arrears and home repossessions are rising fast among higher earning households, a report by a credit rating agency suggests. The finding indicates that serious housing debt problems caused by the credit crisis are not limited to those on low incomes. The study, by Moody's, examined the situation of people who on average owed 66 per cent of the value of their home - far less than millions of riskier borrowers. The proportion of homeowners in arrears for 90 days or more had risen by half, the report found. It stood at 0.9 per cent at the end of June, compared with 0.6 per cent at the same point in 2007. Meanwhile the number of homes repossessed among the group more than doubled, rising to 0.082 per cent from 0.037 per cent last year. Daron Kularatnam, a co-author of the report, said: "The percentage of mortgage loans greater than 90 days in arrears has reached the highest level of recent years." The report added that the problem is set to get dramatically worse, as a large number of homeowners are preparing to come off fixed-rate loans and refinance under painful new terms. Nitesh Shah, another co-author, said: "The 'payment shock' to those mortgage-holders coming off the fixed interest rate period of their mortgages may increase stress on householders," The authors also pointed out that there was typically a time delay between worsening economic growth and more borrowers failing to make repayments. This week the OECD predicted that Britain will be in recession next year, meaning the number falling into arrears could keep soaring for the next few years. "While the increase in delinquencies has been relatively mild so far," the report said, "arrears are thus expected to continue rising for some time."

Hold on to your hats guys, have you seen those unemployment figures, especially the revisions

The ultimate keyboard for posting http://uk.gizmodo.com/2008/08/13/gold_keyb...m.html#comments

Is it just me or does 5000 ounces just dont sound like a lot for a world market Think about this. How many mercedes cars do you see driving around ???? lets say the average price is £40k, thats 80 oz's of gold at £500 an ounce. It doesnt take many mercedes cars to fill 5000 oz'z. And the refiner has ran out of gold for a week following one big order This market could just explode if enough rich people loose faith in paper money

Posted over on Axe's thread................ BERLIN, Aug 22 (Reuters) - Germany's Bundesbank on Friday rejected calls that it should sell some of its gold reserves to help boost the slowing German economy, telling Reuters financial and political uncertainty make the reserves even more important than before. "Gold sales are not a suitable way to sustainably consolidate the public accounts," the Bundesbank said after a query about trade union proposals that it sell gold to fund some of a 25 billion euro ($37 billion) economic stimulus package. "National gold reserves have a confidence and stability-building function for the single currency in a monetary union. This function has become even more important given the geopolitical situation and the risks present in financial market developments." The Bundesbank is the world's second-largest holder of gold after the U.S. Federal Reserve, and has sold just 20 tonnes out of total reserves of over 3,000 tonnes in the past five years. These sales were to allow the German finance ministry to mint gold coins, unlike the much more active sales programmes of other central banks which wanted to shift their portfolios from gold to a more diverse array of assets. To reduce volatility in the price of gold , 15 European central banks agreed in 2004 to limit gold sales to 500 tonnes a year over the next five years. The Bundesbank is expected to make a formal statement about any gold sale plans around September, when the final year of the Central Bank Gold Agreement starts. "The Bundesbank reaches decisions about the nature and size of reserves autonomously. The board of the Bundesbank decides every year afresh about changes in the level of its gold holdings," the central bank said. (Reporting by Rene Wagner, writing by David Milliken; Editing by Gerrard Raven) ($1=.6727 Euro) Keywords: GOLD BUNDESBANK/ tf.TFN-Europe_newsdesk@thomsonreuters.com jlw COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

Silver Sammy Sighting http://goldismoney.info/forums/showthread.php?t=292873

Silver Sammy Sighting http://goldismoney.info/forums/showthread.php?t=292873

Asia getting a beating tonight http://www.bloomberg.com/apps/news?pid=206...&refer=home Gold also down a bit

More gold chat/bashing over at HPC. Strange that the thread has not been moved yet http://www.housepricecrash.co.uk/forum/ind...showtopic=84603 The original poster Injin, seems like a quite a sharp guy/girl. I dont always agree with him/her but they have some interesting thoughts at times. Unfortunatly it has given a podium for the usual gold bashing When the gold bugs on here were ramping a few months ago saying "The price will go to the moon now" I saw it as a sign to do the exact opposite - 'wake up' moment. Blahhhhh, blahhhhh bulls**t.........wont make you feel any better but might make you all smille I have done a lot of reading over the past week and the thing that sticks in my mind most...........from jsmineset.com The price of gold is already looking beyond the oil and food spike of early to mid 2008 (a lagging indicator of loose money two to three years ago) to the much more serious matter of debt-deflation that lies ahead Do your stocks and cash feel safe ??? Be happy that you hold a tangible

Looks like we will be testing 800 again soon. I think they would like to have a close below 800 tommorrow. Got a couple of good numbers US tommorrow, Industrial production and Consumer sentiment. I wonder how positive they will be.

The more I read and learn about economics the less I understand

Unfortunately GBPs is what I have comming in month to month Also my " primmed gold dry powder " has been kept in GBP's for the past 8 months. On reflection I should have converted it all to gold back then, hindsight is a wonderfull thing But then I could have deceided to convert it all to gold @ $1030 an ounce, so you never really know what to do without the crystal ball

I suppose this is what im still trying to work out. 1. Is the GBP fall directly related to the USD rise and Gold fall. In which case as the USD falls back, GBP will rise and the actual cost of gold in GBP wont really change or 2. The GBP fall is a independent issue, related to recession fears etc and when USD drops back and Gold rises the GBP/USD excahnge rate will still be a lot weaker ( say 1.80 ) and gold is going to cost a fortune in GBP. In which case we should be buying gold now.

More gold bashing of at HPC but they seem to have got themselves very confused http://www.housepricecrash.co.uk/forum/ind...showtopic=84567 Pound Taking A Shoeing., Not a good start for the day .... Imagine the sterling value of gold is taking a bit of a pounding too. Perhaps its going the same way as..... nah, I can't say it. ------------------------------------- If gold maintains it's USD value, and the GBP weakens. The sterling value of gold goes up. ------------------------------------- *Hides head in shame* Yes, you are right. ------------------------------------- The thing that is annoying me about the GBP/USD fall is that gold is still costing me more than it did in December But if anything I am provoked to buy more. If GBP stays this weak and we go back to $1000 gold which really seems likely a bought ounce is going to cost us £570 +

The more I read and learn the less I understand the inflation / Deflation / Money supply arguements

Been holding at about $815 now for hours. I wonder if we test $800 again as New York awakes ????

Maybe I should be looking at this with different eyes Do I want to be holding gold or £ I wonder where GBP/USD could be in 1 years time when Gold could be at $1200 ??? £450 - 460ish per oz might seem incredibly cheap.

Gold getting expensive when bought in £ Yesterday 1oz coins could be had for £450 Today 1oz coins are £466 As £ falls off a cliff GBP/USD 1.8804

Thanks Steve. I think the thing that has been bugging me is, do you calculate your gold holdings by weight or monetary value ??? ie..... If your liquid assets where $100,000 in 2000, you would have needed $10,000 insurance. This would have been equal to lets say 40 oz of gold ( spot @ $250 ) If your liquid assets where $100,000 in Feb / Mar 2008, you would have needed $10,000 insurance. This would have been equal to lets say 10oz of gold ( spot @ $1000 ) If gold insurance is calculated on monetary value, you would in theory need to sell some gold. Lets say you sold 25oz @ $1000 making your liquid assets now $125,000. You now need $12,500 insurance or about 13oz of gold ( spot @ $1000 ). Who would want to sell gold bought @ $250 into a bull market. It doesn't make sense, but then you are over weight insurance and your portfolio is unbalanced You can see where I am going with the above by calculating gold by FIAT value. You need to constantely adjust your gold holdings as the price moves What if you calculated gold by weight ???? How would you calculate gold by weight ???? I have $100,000 liquid assets, what is that in gold oz's ??????? Is gold just something that you acumulate throughout life, little by little. Just ignoring that the price will flucuate and hoping that you will not have to use it ????

All UK silver coins issued before 1920 are sterling (.925) Silver, and all coins issued between 1920 and 1946 contain 50% silver (.500)

Incase anyone missed it. The Silver Sammy index is screaming http://goldismoney.info/forums/showthread.php?t=290831

Sorry Goldfinger, its one of those things I remember reading on a late night gold education trawl on the web, when I was asking myself the questions of " how much gold to own and how do you measure it ". If I come accross it again, i will deffinately post it for u