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dietcolaaddict

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Posts posted by dietcolaaddict


  1. The other thing to remember is that the amount proposed for sale this year (I believe 400 tonnes), is only equivalent to the amount sold by Gordon 'Ignoramus' Brown in 1999. During the 90s almost all gold owning nations sold off large amounts, totalling many thousands of tonnes.

     

    Thanks a lot for the info, marceau

     

    I can sleep a little easier tonight......


  2. From the BBC, a nice interactive graph of gold prices since 1971 with explanations of the major peaks and troughs.

     

    Worth a 5 minute look IMHO:

     

    http://news.bbc.co.uk/1/hi/business/7284184.stm

     

    Good for the price of gold

    - inflation

    - invasion

    - political problems / natural disasters that affect oil supply

    - credit crunches and banking instability

     

    Bad for the price of gold

    - gold sell offs by IMF or CBs

     

     

    SO MY QUESTION - where are we with IMF and its plan to sell off their gold reserve?????


  3. This one suggests to me that "precious metal" may be a better guage than the others, because there's better volume than the others, while as far as I can guess such a term could be often investment specific, unlike a more general term like "gold". I should be interested in better suggestions.

     

    Wren, this is a very nice technique to guage the global public's thinking on gold.

     

    I have tried "buy gold", "sell gold" and "krugerrand", which may be more laymen's terms in terms of gold investment perhaps.

     

    http://www.google.com/trends?q=buy+gold%2C...=all&sort=0

     

    "Buy gold" shows a gradual, but volatile, increase since 2004.

    "Sell gold" appears suddenly late 2005 and has had a consistent volume ever since.

    "Krugerrand" has shown a sudden rise in volume that has held since middle of 2007.

     

    Edit: comma in the wrong, place


  4. Anyway, I will be quite busy the next few days, not much time to watch the price of gold.

    "A watched pot never boils"......$1000 here we come then :blink:

     

     

    I'm posting this from BBC Midland News about the public selling off jewellery. It highlights the trade in one jeweller in Dudley, an ordinary Midland town. Some interesting quotes and figures..

     

    “Jeweller David Johnson has paid out £250,000 for gold in the last three weeks”

    “We have had queues for the last three weeks literally coming out of the door in the Dudley shop. We have bought a lot of gold”

    “I’ve sold some jewellery that was just lying in the drawer at home….. towards a holiday in Spain”

     

    Source: BBC Midlands "Gold rush as prices double"

    < http://www.bbc.co.uk/mediaselector/check/p...wm=1&nbwm=1 >


  5. Gold approaching $1000 makes the UK mainstream press twice today from what I can see (below). I expected more coverage.

     

    But in both cases, the UK press use the upcoming $1000 marker as a way of attacking PM Brown for selling UK’s gold kitty a few years ago on the cheap. No mention of gold as an investment opportunity.

     

    IMHO $1000 may unavoidably start the media attention phase of the idealized bubble psychology graph. But if newspapers use the $1000 mark as a means of commentating on the state of the economy, rather than touting precious metals as an investment opportunity, then perhaps gold/silver can stay clear of the public enthusiasm phase.

     

    As long as Joe Public see gold/silver as something exclusively to do with bullion dealers and governments, the public enthusiasm stage will not start IMHO. When there are articles in the main sections of papers telling the public how and where to buy, and giving case studies of successful investors (common with property investment for years) it’s a different matter.

     

     

    Brown’s gold sale ‘lost £4bn’

    Daily Mail page 19

    GORDON BROWN’S sale of more than half the country’s gold reserves at rock-bottom prices has cost every taxpayer £100, it was claimed last night. The controversial sales happened between 1999 and 2002, when Mr Brown was Chancellor. The price of bullion...

     

    Forget prudence, let’s go for a big bang in education

    The Herald page 15

    GORDON Brown’s decision, when he was Chancellor, to sell more than half of Britain’s gold reserves was a calamitous misjudgment. The sale was not in itself irrational. The price of gold had been falling for nearly 20 years. What was catastrophic was...


  6. Dear GoldThreadII members.....

     

    I’m another HPC convert.

     

    I’ve learned so much from the old thread (and enjoyed reading it), so I should start by saying thanks to everyone for the education and entertainment.

     

    I’m a hard working young brit who got interested in gold about a year ago as a non-paper means of saving money (for a deposit once the property market gets sensible). I now keep about 40% of my savings in gold, having raised the amount slowly.

     

    I’m not an expert on gold markets like some learned individuals on here but I understand the fundamentals.

     

    I do however have a job that puts me in touch with an excellent spectrum of ‘UK Joe Public’, be it rich or poor, educated or not. I shall try and contribute with any info on the sentiment of the UK public towards investing in gold. I believe the drivers of the market will change as ‘global Joe Public’ starts getting in on the action in the post $1000 media spotlight.

     

    At the moment, the UK population seem pretty oblivious IMHO, even amongst the business-minded, those with money to invest, and those that read the financial sections of the press.

     

    Diet Cola Addict

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