safebetter

Nice chart GF - DJ & $ are doomed SafeBetter

That $887 Angel is sure having a busy time!!! Anyone care to comment on this one: http://www.kitco.com/ind/Pieterse/jun202008.html Long and strong folks, long and strong SafeBetter

Parity with the $ @ 1:1 would be mind blowing for the pog in gbp - probably means no more trips to Florida though! Money Programme last night Pierre Lassonde saying he expects the gold price to be four digits, end in 000 and the first digit won't be a 1...... .....£2000 per trOz? now that would really blow my mind. He didn't give any time predictions though - shame. But he certainly believes the bull is long from over - nice. SafeBetter

Assuming gold hits $1650 by Jan 2011 as per the Jim Sinclair prediction, anyone care to guess what the USD/GBP may look like at that point in time? Are we likely to stay pegged around $1.95 or given we lag the states by 18 months when they are pulling out of the current fiasco we will still be in it? Any views? SafeBetter

Public awareness hotting up! Was in Bristol at the weekend and several back street jewellers had big signs in the window 'Gold bought - prices never higher etc'. When it suits the media they will start ramping it SafeBetter

Good articles, don't think they have been posted: http://www.kitco.com/ind/maund/jun052008_gold.html http://www.kitco.com/ind/vaughn/jun042008.html http://www.kitco.com/ind/fekete/jun052008.html SafeBetter

I know this was posted already, but does this really seem possible: http://www.moneyweek.com/file/48581/why-go...0-an-ounce.html Or is it completely OTT. Obviously a major geo-political event may trigger something - but just based on the credit crunch and it's impact this seems too high? SafeBetter

It must be bad, even George Soros is struggling to make money http://www.telegraph.co.uk/money/main.jhtm.../ccsoros126.xml Watch the videos if you have time SafeBetter

Some interesting articles from Kitco if you haven't seen them, the last three are 2 weeks old - been busy working! http://www.kitco.com/ind/degraaf/may192008.html http://www.kitco.com/ind/Cassimatis/may132008.html - sensible analysis I thought - I was looking for views of the bottom in addition to Jim Sinclairs. http://www.kitco.com/ind/schwensen/may132008.html - plus some comments on the Juniors underperformance http://www.kitco.com/ind/katz/may132008.html Just as a final note I have to agree with posters here that Jon Nadler is so biased in his view and outlook on gold/silver. At first when folk on here were down on him I thought it was a bit unfair, but as I think GF recently said given his position as chief analyst @ Kitco one has to wonder about his motives & his credibility. SafeBetter

QUOTE (Steve Netwriter @ May 24 2008, 02:18 PM) I think the simple answer is they make money on buying cheap and selling at a higher price. It doesn't really matter what the long-term price trend is, they presumably buy and sell fairy quickly, as that's where they get their money from. Not from buying and holding onto it. That's my guess anyway. In a way it's no different to something like Gold Money or Bullion Vault, or any dealer. They make money on the buying and selling, just like an estate agent On this subject my local rag has run this advert twice: This one was run just at the last >$1000 peak: Not in the 10 years that I've been reading my local paper have similar adverts been run, I think we are at the start of the mass public awareness stage. I agree that these guys always want gold from you at a lower price - but I think they are cashing in before they are pushed harder by joe public once awareness of the real price sets in. May be I will go the 28th event to see what I get offered for a Krug!! SafeBetter

Given China's economic & military might I believe the route will be devolve down the 'protectionism/sanctions' route - the US surely cannot pursue the same line taken with Iraq & possibly Iran (ie. for setting up an oil bourse trading in Euro). Perhaps it will end in a bidding/price war for natural resources/commodities? We are seeing the first signs already. SafeBetter

GF - presumably this also applied to BoE - therefore are we also saying we should expect ~ £815-£825 gold? SafeBetter

http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=5986 "Major, major gold support floats around the $887.50 Angel. Float means moves above and below." Could need balls of iron not gold to ride this one out! Re the GM/BV vs. physical/coins in hand - surely trying to liquidate any reasonable size holding of coins in a crisis is going to be tricky and risky? And storage of any reasonable size amount coins would most sensibly be with a bank - do you trust them over VIA MAT et al? SafeBetter

DrBubb - Presumably any drop in Sterling will be reflected by gold going higher in £ terms? SafeBetter.

Haven't seen nothing new, these are the last articles I read: http://www.marketoracle.co.uk/Article3879.html http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=5812 http://business.timesonline.co.uk/tol/busi...icle3436377.ece Given the US Treasury said it approved the sale does it mean it will go ahead? "spokesman for the Treasury said that the US agreed with the IMF that its plan to sell nearly 13 million ounces of gold was 'probably the most viable' way of securing the organisation’s long-term funding." - was there an alternative? Comments on the IMF move welcome pls. SafeBetter

Thought this might be of interest in relation to 'gold' awareness in the public domain: Obviously placed before the current correction , but still interesting. Anyone else seen anything similar? SafeBetter

Great read narco. Just reading this article it is saying that both inflation and deflation are good for gold? Is that correct? SafeBetter

On reflection I think you are probably right Steve to highlight the advice of Jim Sinclair - I've never invested in something this volatile before and I think the long game will suit my position better. It's just painful to watch - many of you on here did say it would be like this - but it is only until you have skin in the game that you 'really' feel it!! SafeBetter

Apologies if this has already been posted: http://www.jsmineset.com/cwsimages/Miscfil...-19-2008_PM.pdf Seems concensus on the support levels of 1st $900-930 and then ~$860 - much as the chartists on GEI have shown us. What would be the chances of gold breaking out 'below' the major support of $860? SafeBetter

You've definitely been staring at the charts for too long!! SafeBetter

Before someone spots this one as we are not back to 05/01 levels - my profit is wiped out due to a recent purchases - so much for £ cost averaging! Still holding tight - even if it takes years to make a profit ( I sound like a BTL landlord!!). I think this has taught me that perhaps I need to be a little less risk averse (might have to change my Avatar ) and perhaps sell out 50% of my holding when 'I feel' it's a peak - even at the risk of missing more upside. Less painful to buy back in the on the up and miss 1-2% gain as opposed to a 12% drop! SafeBetter

There was one bit of sense talked today on Bloomberg ~12:50pm on Morning Call - Francisco Blanch (Head of Global Commodities) openly stated that the parallel drop in commodities was due to margin calls needing to be fulfilled (I think he even stated CDO's) and profit taking to cover other losses. He also made the point that with the $'s status as No.1 reserve currency under threat economies would move to using what he termed 'a basket of reserve currencies' & he included gold in that basket. That gold was still a favoured investment despite the volutility and the fundamentals were still in place. Finally he said that there is the 'potential' to start seeing the Asian banks jumping into gold as an alternative to the $. My BV position is now back to where it was 05/01/08 (gulp!) - my first experience of a correction so I know how it feels now - bl00dy awful! Using this as a buying opportunity with a GoldMoney account - so there is an upside to this me hopes Let's see if I can mistime the bottom as badly as I timed the top! SafeBetter BTW for any that are interested CNBC Fri 21/03 12:00pm "Warren Buffett: The Billionaire - programme following Mr Buffett as he pursues his interests in China & South Korea"

Perhaps I'm out of touch and have watched Wall Street with Gordon Ghekko too many times, but I kind of visualise in my minds eye all these guys furiously trading gold, profit taking just before lunch, copious amounts of champagne 12:00 - 14:00 and then back in the office to the day to take advantage of the smackdown they created!! Would be fascinating to see what really happens. BTW did any of you see that Warren Buffett still only draws a $100k salary from Berkshire Hathaway. I suppose when you are accumalating 26% pa annual on a cool $1bn then $100k is pocket change. Anyone here know why he came out of silver before this bull run in commodities? SafeBetter

What a day - I was procrastinating @ 12 noon today as to whether to sell a bit and profit take, bottled it and now I'm kicking myself - a wee bit. Could be a dangerous habit to get into as it's difficult to predict which way it is going to swing and by how much. Holding tight is safer. Seems have stabilsed sideways right now. Read this earlier and it made me laugh: http://news.bbc.co.uk/1/hi/business/7284184.stm "Its price goes up and down just like other investments, but it does not tend to fluctuate as much as shares" - who are they kidding! Wonder if Heather Mills is going to have a punt on gold with her £24.3m? SafeBetter

Thanks for the responses DrBubb. Anyone see the UK ITV "News at Ten" last night. Gold reaching $1000 got two mentions - there was even a brief interview with a lady from the World Gold Council (can't find the article/link at ITV if anyone else wants to try) who stated that they expected $1200 and perhaps even $1500. Amazing how main stream gold is becoming. Funny how the media has not told the public that if they had invested in gold in 2004 they would now be looking at ~150% gain. Of course one could cynically say that it suited the VI's to promote real estate heavily to keep the game alive. Perhaps Kirsty Allsop & Phil Spencer are already filming their new Channel4 Gold Sitcom called "Bling, Bling, Bling" On a final note re the retracement - from what I have picked up from you guys it's all about holding your nerve, don't panic & remember you don't make a loss until you sell, assuming it does go back up! SafeBetter