dietcolaaddict

I was thinking that the shoe shine boy moment will be when the boy at the car wash is telling people to buy gold. After all the preferred form of transport in 1929 was shoes. Now it is cars. Tenuous link I know. (I always wash my own car. So I will never know.)

Hi Belfast Boy

I think that shoe shine moments are a long way off yet. 'People down the pub' are however noticing these type of enterprises - giving cash for broken and unwanted gold jewellery (but at 30% under spot). There is typically a stall in most large shopping malls in the UK now.

http://www.mygoldmine.co.uk/index.php?page...me=how-it-works

http://www.joelsgoldstore.com/

I've not posted much recently - I'm taking advantage of this temporary sweet spot in the UK economy to move jobs (and get a payrise to boot). I've noticed that there currently remains reasonable employment opportunities for specialist (and qualified) individuals in the public and private UK sector, at least until the next step down in the economy, when I suspect that 'across the board' recruitment freezes will begin.

Gold up against the ropes today, especially in GDP terms. Resistance lines being tested.

There's now a short-term head and shoulders pattern at the end of the long-term inverse head and shoulders pattern

I don't have a huge amount, but its all with GM. If it comes to the stage where those holdings are not 'safe', so be it; there will probably have bigger problems that require my attention by then.

If GM or BV were discovered to be untrustworthy, would this not in turn push up the demand (and spot price) for physical gold.

Would keeping a balance between physical and allocated holdings protect against this?

Has ATS had issues getting Krugs over the past few months ??? Anyone been in there in the last month and asked ????

I don't know marmite

I usually buy gold from ATS but have turned into a silverbug of recent, and get that elsewhere.

Email from ATS bullion......

The Elusive Krugerrand

 

After months of scarcity we have been lucky enough to obtain a small number of Krugerrands. This instantly recognisable one ounce coin is considered one of the best ways to invest in the gold market.

 

Click here to visit our website...

Silver just bounced off 16! Gold:Silver ratio now a touch over 60.

Gold (once again) within touching distance of four figures. It needs to hold this time with the dollar weakening.

I'll be wearing my lucky underpants tomorow!

So surely people are seeing the coming inflation tsunami as something that will send gold through the roof, and hence they want to ride that train - to get rich, not just to preserve wealth. The risk is they time it wrong, or don't sell at the top, and actually loose wealth.

 

Gold is a secure way to preserve wealth over many many lifetimes, not over any particular decade.

Hi bigtbigt

I don't expect to 'make money' from precious metals. I just expect to preserve my wealth (and keep it liquid) while 60% of UK owner occupiers loose > half of theirs in the next few years.

Gold isn't currently in an overbought state, check the RSI. Trader dan notes this today on his latest.

 

http://jsmineset.com/wp-content/uploads/20...ld1230pmcdt.pdf

 

For the right shoulder to complete on cue we are looking at a break through $1000 in the second week of June. Then we will be off to the races

Cheers Pix.

I know this has been asked before - can anyone recommend a good online resource or book for learning about RSI, MACD etc. I've tried before but found the online explanations a little variable and contradictory.

Would it be best if gold corrected a little now - rather than try for $1000 again in an overbought state.

I'm thinking gold may have more chance of holding four figures if it breaks through in a few months time when seasonal trends are more favourable.

Now with extra volume......

The Presidents Working Group might have some work to do this Friday, just look what the journalists are writing

(Is it me, or does every news outlet seem pro-gold at the moment, a worrying sign)

"Faith in Obama? Not according to gold prices"

http://www.todaysfinancialnews.com/gold-an...rices-9102.html

PS I am following the £:$ charts more than the gold $ price at the moment - what is going on there?

On the subject of the head and shoulders pattern in gold :

Thanks CC. I've learnt so much on this site, but clearly have some way to go yet.

The right hand shoulder of the gold chart seems to be completing quite nicely. Todays action further shows this. Fireworks in June????

Could the gold be recovered from a tumour and used again in another tumour?

Hi Ziknik.

No way, I'm afraid. The Au/Pt nanoparticles need to get within the tumour cell, in fact usually an organelle like the the nucleus or lysosomes. There's no technology to get it out, even if Human Tissue Act etc. would let you (which it likely wouldn't).

Really, the amount of gold to recycle would be tiny anyway. Might as well develop a technique for extracting Gold from seawater.

Hey, Steve: here's the next month's thread title:

Gold - it might be a cure for cancer.

 

http://www.sciencedaily.com/releases/2009/...90504151454.htm

Targeting Tumors Using Tiny Gold Particles

ScienceDaily (May 5, 2009) — It has long been known that heat is an effective weapon against tumor cells. However, it's difficult to heat patients' tumors without damaging nearby tissues.

I've done some scientific research in this area, although unfortunately not to the stardard of this MIT group.

Nanoparticles of gold (or platinum) have a lot of potential in physical cancer therapies (X-rays, UV etc.) However, they use minute quantities of metal and will not have much effect on global demand, even if they are the next major breakthrough.

Ok, a quick and unscientific observation......

But are gold and silver decoupling a bit?

I will not even consider shifting Silver->Gold until it hits 50, and probably not until about 25.

25 seems a little optimistic. Look at this graph for ratio on each day of this decade long PMs bull market.

I reckon 40-50 is as good as it will get, although I agree that the ratio is falling now.

Gold looking bullish even though pulling back to $850 as volume is light.

 

http://www.youtube.com/watch?v=y7WX63tWRnI

I'm still bullish on gold for the months ahead and am interested to see if gold has a push to 890-900 this afternoon.

I still think the world banking system is in a 'right state' and believe that confidence in the financial system will continue to deteriorate. Therefore, I think this year may be untypical of normal years and lack (or at least see less of ) a doldrums period.

I can also see more and more QE occuring in the UK, as no-one is going to but all these government bonds at current return rates, and the emergence of high UK inflation as a consequence.

The Daily Express are known to be property rampers and their headline is derived from Rightmove's Asking Price data and it isn't sellers who determine a house price but market forces and banks.

 

All it shows is that sellers are still in denial and are taking this "green shoots" business too seriously.

Hi Eiji

Of course, but it's such a classic piece of daily express-ism it needs preserving (so we can have a laugh at it in a year's time).

Bullion Vault will charge commission on BUY and SELL. Goldmoney only charge on BUY.

 

Overall, it works out about the same.

Yes. I like the fact that with GM I can sell for spot at any time. The charges are all paid up front in the buy purchase.

There was a discussion about handling accusations of money laundering earlier on this thread. There is an argument that a certain desperate politician loosing control of his economy (GB by name and country) might start to target GM and BV in money laundering investigations. GB I understand did use laws designed for anti-terrorism to freeze assets of icelandic banks, which makes me nervous as to how he might use any such power in the future. Anyone know which of the two - BV or GM - is furthest from GB's control?

Gold, silver up.

Platinum, palladium down.

Statistical blip or a new trend?

This picture sums up my reading of the gold market today.......

"I'm trying to look at the wider picture, but all I can see is a pretty obvious bottom in gold"

PS - photo is Princes Street Gardens in Edinburgh.