dietcolaaddict

Looks to me like the seasonal dip may be starting, and thats a good thing for 'buy and hold' types

I remain keen to buy big in late summer - a strategy that has worked well in recent years. Averaging-in over late Aug-Sept-early Oct

... it is somewhat awkward to transport, and the design is maybe not worth having it in that large.

Yes, its clearly a novelty piece, perhaps for a (rich) company HQ, a (rich) private investor etc..

If I had that much to spend on Gold, I'd just want good delivery bars and nothing any more unusual or that attracts attention.

Is there any CGT advantage to it having a monetary value and a Queen's head on the coin?

Probably not, I'm thinking, as the face value is in dollars (itself strange for a coin with the Queen's head).

I suspect to a taxman, this is not officially a coin - it's just a block of gold cast into the shape of a coin.

How to buy your physical coins at spot price......

16 STONES of precious metal: World's biggest gold coin sold at auction for £2.68m

There were no counter offers in an auction room packed with more journalists than potential buyers. It sold for the catalogue sum, the coin's pure gold value based on Friday's market price.

http://www.dailymail.co.uk/news/worldnews/...tion-2-68m.html

NWODKCAMS

- thats a smackdown in reverse

That's $1250 taken out. Let's celebrate with a few images.......

Suzuki 1250 Bandit

Schlüter Tractor 1250 VL

To remedy this, I decided to only buy and hold gold, while only trading silver. That way the two approaches are completely demarcated between the metals. I also think the fundamentals might lend themselves to this as the price of gold has shown itself to be a lot "stickier"

 

I'm more comfortable sitting on the sidelines in regard to silver, given that my core postion in gold picks up gains in bullion prices.

I'm with you on this RH and came to the same conclusion independantly. What I would add is the seasonal benefits of each - I have a theory that silver is best for any takeoff at the September(ish) seasonal gain in bullion prices as it provides greater % gains, Gold is best 'defensively' during the summer doldrums we are now approaching for its stickinesss when gains need defending.

Friday 3pm smackdown in progress? Few minutes early....

A 'failed smackdown' pattern, although the peak-to-trough is smaller than previous intraday 'failed smackdown' patterns at around $10. Sounds quite positive for next week, but 3 days is a long time at the moment given all the bearish news around.

Next market trading day is officially June of course - so was are now in doldrums season. The times to lighten up gold exposure for seasonality followers are as far as I know March (conservative) or May (more bold).

I must admit to not buying the past few months at these prices, and to sitting on a growing pile of savings cash. Prior to the general election, I moved this cash into USD and CHF , expecting a hung result and a (short-term at least) fall in sterling, but will be looking for a gold price dip in these currencies over the summer to average in with more physical for my core position.

Experience had taught me never to buy into strength, and while I appreciate the 'buy same time every month - its a 20 year bull run' argument, this never works for me as I tend to naturally buy at interim tops unless I act disciplined and buy into weakness. A disciplined series of buys before early September seems my likely next move.

Silver Sammy alive and well.......reincarnated as a prominent poster on HPC

RBCI

'Failed smackdown pattern' developing currently in NY time.

In my experience, this is bullish for the week ahead.

Customer email from Goldmoney:

G O L D M O N E Y A N N O U N C E M E N T

Dear Sir or Madam,

The Deutsche Edelmetallgesellschaft and GoldMoney are

pleased to invite you to the

"Silver & Gold"

Event

on

Tuesday, 8th June 2010

Start: 19:00 pm (Doors open: 18:40 pm)

Venue: Frankfurt am Main, Hotel Monopol, Room Haydn,

Mannheimer Str. 11-13, D60329 Frankfurt a.M.,

Tel. 069 22737-0, directly at central train station

Speakers at this event are GoldMoney founder James Turk and

'Silberjunge' Thorsten Schulte. The host speaker will be

DEG-Co-founder Peter Boehringer.

Attendance is free for GoldMoney customers. Reservations

can be made (to be guaranteed a place) by Email to

peter.boehringer@edelmetallgesellschaft.de.

We look forward to meeting you.

Gold has increased more in £ and $ terms than as a basket of currencies (USDX weighted). The kitco gold index since 2000:

PS Record high in $ coming this NY pm by the looks of it

Gold closing in on its record high in USD today. There is a jump up this morning in london hours. Anyone know why?

UK stuck in a nightmare scenario of hung parliament and indecisive governance during a developing soverign debt crisis.

It's a perfect storm.

Even house prices are down (MoM -0.1% halifax for April, with +ve expected). 200 oz for a house by mid-summer ?

(and then lower in 2012/13/14?)

It's not a rocket.

It's an appropriate aeroplane pic to celebrate a new GBP price landmark!

......

IF for some reason one couldn't bring themselves to buy gold here with pounds, another option would be to buy dollars.... and hope for a pull-back in the dollar price of gold.

Good analysis RH, I agree with you, and am buying dollars at the moment with £ monthly savings.

Can't stomach buying into the current strength of the GBP price of gold

are the dates of gold option expiry, according to my calculations

(December is a bit of a guess - dont understand trading holiday arrangements over festive period)

Can anyone confirm? I've used this rule

A gold futures option shall expire at the close of trading four business days prior to the end of

the month preceding the option contract month; provided, however, that (1) if such day is a Friday,

the expiration date shall be the preceding business day or (2) if such day is the day immediately

prior to an Exchange holiday, the expiration date shall be the preceding business day. In the event

that the official Exchange holiday schedule changes subsequent to the listing of a Gold futures

option, the originally listed expiration date shall remain in effect. In the event that the originally

listed expiration day is declared a holiday, expiration will move to the business day immediately

prior.

Does anyone know how to work out the options expiry date for december? Other months are OK, by the rule below, but there seems to be uncertainty over whats a holiday or not at the festive time. Help appreciated

A gold futures option shall expire at the close of trading four business days prior to the end of

the month preceding the option contract month; provided, however, that (1) if such day is a Friday,

the expiration date shall be the preceding business day or (2) if such day is the day immediately

prior to an Exchange holiday, the expiration date shall be the preceding business day. In the event

that the official Exchange holiday schedule changes subsequent to the listing of a Gold futures

option, the originally listed expiration date shall remain in effect. In the event that the originally

listed expiration day is declared a holiday, expiration will move to the business day immediately

prior.

Wow.

 

Just could not resist this... sorry.

.........

Your punishment is to 1) sign in to HPC 2) find a RealistBear thread 3) say something complimentary about his economic forcasting

It's not a bad bet that the pound gets hammered too if there is a hung parliament election in the UK. New Sterling highs for a while perhaps?

Looking good! But let's not tempt fate

Anyone who posts a rocket should be sent to the naughty step for a week.......

I wouldn't personally, I think USD is completely unpredictable moving forward from here. Read CGNAO's latest post and see if that changes your mind...

You may well be right warpig. I see a "failed smackdown pattern" in NY time today, which suggests to me, from past observation, of a bullish period ahead.

I'm not planning on buying any gold at the moment as I'm uncertain about buying pre-doldrums. But I am thinking of loading up my Goldmoney account and swapping the £ to USD (0.5% fee) pre-election.

I think gold will be lower in USD terms later this summer. I also think the £ is unrealistically strong against the dollar pre-election.

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.

I was worried the summer doldrums were starting today but a nice V-shape in the daily spot price says no.

Edit: silver is not my core currency... gold is. If silver were my core position I wouldn't be trading or selling it. What works for one, might not work for another. There is a good chance I get it wrong on silver, but this does not concern me too much due to a large gold holding. If silver does go the next level, I think it is likely to remain volatile and should dip at some point to where I exited.

I agree with this. I see silver as a bit like oil in that it has a gold-to-xx ratio that fluctuates about a bit that can be used for longer term trading positions to enter when cheap and exit when expensive. Gold is the currency to accumulate profits and had a nice resistance floor to hold and protect profits in. I guess at some point this summer we will see a test of that floor - perhaps at $1040 ish, where the Indians bought.

Gold already at the races this morning........

Talking of which, it's the Grand National this weekend.

For all precious Metal affectionados its got to be*:

Silver Birch 66-1

But this horse, despite winning in 2007, is this year only a reserve.

That leaves a tenuous second choice of :

Cerium 50-1

Again a reserve, but very gutsy finishing 5th last year despite collecting a fractured skull in the process.

Cerium is a "soft, silvery, ductile metal which easily oxidizes" (wikipedia)

* Warning - betting is akin to short term trading. It would be embarressing to lose your knickers during the biggest horse run ever.