Mr Pipples

I have 10 x Australian 1 Kilo Koala 2008 coins for sale. They are my mates, Im not selling any of my silver! Someone has indicated they will buy two and I might have one. They are all in the plastic case. He wants £400 each for them + postage. They are selling for £442 + postage on CID so represent good value.

Roughly where abouts are you - for pick up. Just considering...

He's got his head screwed on backwards!

 

The commerc ials accomodated huge buying by the Hedgies,

How soon will they run out of capital to chase these speculative Gold positions?

They are hot money people, after all...

 

Powered by strong buying from Spec Longs.

Their net Gold futures position increased $5.6 billion (+28%) in a single week!

What you saying here, Bubb? That you see the Hedgies running out of steam and a big slam down real soon?

Bit of Antal E. Fekete for you: HAS BARRICK BEEN BARRICKED BY THE U.S.? - http://www.drschoon.com/articles/AEFHasBar...ckedByTheUS.pdf

China can no longer afford to let gold or silver price slump - http://www.mineweb.com/mineweb/view/minewe...7&sn=Detail

Chinese state endorsement of gold and silver as good investments means the country can no longer afford to let precious metals prices drop by any significant amount.

I sold about 1/3 of my position

Yep, doubled up so sold half.

UN Says New Currency Is Needed to Fix Broken 'Confidence Game'

 

Sept. 7 (Bloomberg) -- The dollar's role in international trade should be reduced by establishing a new currency to protect emerging markets from the "confidence game" of financial speculation, the United Nations said.

 

UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said today in a report.

 

China, India, Brazil and Russia this year called for a replacement to the dollar as the main reserve currency after the financial crisis sparked by the collapse of the U.S. mortgage market led to the worst global recession since World War II. China, the world's largest holder of dollar reserves, said a supranational currency such as the International Monetary Fund's special drawing rights, or SDRs, may add stability.

Just going to post FT thing on that... Got gold?

http://ftalphaville.ft.com/blog/2009/09/07...reserve-debate/

The UN’s Conference on Trade and Development put out a somewhat forthright view on the subject of international-reserve currencies on Monday. In no uncertain terms, the UN appears to be calling for the end of dollar hegemony.

Jim S reckon on middle of 4th quarter (whatever day count we're on now) for all this to come to a head. I'm feeling less skeptical...

Thanks to those who emailed me about Ascot. I know the company and own shares.

 

I have also participated in this deal.

 

On the upside you are buying gold at 20% discount. On the downside, there is a problem with one of their mines and they are late on delivery, or, worst possible, the company falls apart and you lose everything. That is the gamble.

Found this post: Ascot Mining and bargepoles - http://incakolanews.blogspot.com/2009/09/a...bargepoles.html Quotes (in full) the following Minesite article: http://www.minesite.com/nc/minews/singlene...orld-price.html

Does sound intriguing. I have sent off an email to the member of staff dealing with this offer requesting further information. I will post here what he has to say. Anyone else looking in to this? Anyone heard back from them?

Gave the guy a ring. He's going to email me through more details later which I'll post when I can. At 12-18 month settlement points, choice to either have the physical delivered or have current cash value transfered to you. Will be assayed by Canadian refiner and will be in bar form from 1oz up - depending on settlement amount. Need the T&C's to check through and figure all the ins and outs. 

Re. the company... Check the company website (www.ascotmining.com) + I read a review by someone we know here recently... Can't say more than that!

Sep 05 Are We There Yet? Gold Attempts Another Breakout - Bob Hoye - http://www.321gold.com/editorials/hoye/hoye090509.pdf

Sep 05 Are We There Yet? Gold Attempts Another Breakout - Bob Hoye - http://www.321gold.com/editorials/hoye/hoye090509.pdf

Good analogy - I would agree with that!

 

- said Traktion, in agreement

+1

with a few information flyers being slapped on the tables now and again...

Latest Hoye audio: http://www.howestreet.com/audio/bobhoye_2009_0904.mp3 Not that I put too much faith in his views (lack of apparent self- critique.)

Latest Ted Butler Commentary - http://www.investmentrarities.com/ted_butler_comentary.shtml

I got that in an email update - you need to signup for daily free alerts.

 

Probably a bit naughty of me to put the direct link here though; but hopefully you guys will signup?

 

I'm looking forward to part 4 where the "pyramid" basics should be explained. I think this strategy is very good for trading electronic gold/silver; however it is no substitute for the real deal.

I did, a while back, but only got a few reports - he must just give a free taster of just a few... Find it very hard to pay attention to his usual vids - but may sign up for his 6 month sub to give it a go as he does seem to talk sense re. stock trading.

EDIT: Check the links at the bottom of his articles if you do want to ask for some free reports: http://www.321gold.com/archives/archives_authors.php

nice video here:

 

http://www.gracelandupdates.com/video/ucrisis3/ucrisis3.html

 

INO energy ball also mentioned Jesse!

 

We all live in interesting times! Got gold?

Where did you find that vid, FWIW? More where that came from? Can't seem to find it on the Graceland site.

We're at 990-995 resistance. If we break that then apparently next resistance will be around 1005-1010. I feel cautious here but I reckon if it breaks past 1010 then we could well see a surge that takes it up a fair bit leaving 1005-1010 as strong downside resistance - unless it gets knocked back down pretty sharpish.

Just my bet...

If it breaks it, I say we start a new Silver thread

Yes, the poor old (Dec 2008) silver thread doesn't get quite the TLC as the gold thread does it.

http://www.mineweb.com/mineweb/view/minewe...2&sn=Detail

 

 

If the chinese are encouring their people to invest I am sure the goverment is buying more .

 

Unfortuately I sold out 2 weeks ago thinking a stock market correction would cause a $ rally and a gold fall - Perhaps I am still right ?

Think this is worth quoting in full... To me, with silver being historically (I think) used as money more so than gold in China, this makes me feel more confident towards it (silver). Hmmm...

China pushes silver and gold investment to the masses

A report suggests that the Chinese government is pushing the general public into buying gold and silver bullion, which could have a dramatic effect on the markets.

 

Author: Lawrence Williams

Posted: Thursday , 03 Sep 2009

LONDON -

 

We are indebted again to Paul Mylchreest's Thunder Road Report for news that will bring big smiles to gold and silver investors everywhere. Apparently China is pushing the idea of buying gold and silver for investment purposes to the general population in the way that Western television sells soap powder. If 1.3 billion Chinese citizens start buying gold and silver, even in tiny quantities, imagine what that will do to the market!

 

The report notes that China's Central Television, the main state-owned television company, has run a news programme letting the public know how easy it is to buy precious metals as an investment. On silver investment the announcer is quoted as saying " China has introduced its first ever investment opportunity for silver bullion. The bars are available in 500g, 1kg, 2kg and 5kg with a purity of 99.9%. Figures show that gold was fifty times more expensive than silver in 2007, but now that figure has reached over seventy times. Analysts say that silver has been undervalued in recent years. They add that the metal is the right investment for individual investors and could be a good way to cash in."

 

What appears to have happened in China is a total relaxation of strictures on holding precious metals by the individual with the government pushing gold and silver as an investment option, seemingly at every opportunity. This is a far cry from the situation only a few years ago where the distribution of gold and silver was strictly controlled. Now, the Thunder Road Report notes that every bank will sell gold and silver bullion bars in four different sizes to individuals and gold related investments are said to be soaring in popularity.

 

Around a year ago, Leyshon Resources managing director, Paul Atherley, in an investor presentation in London - and no doubt delivered elsewhere in the world too - commented that some employees at the company's gold mining project in northern China would, on pay day, go to the local bank and buy a small gold bar as an investment and wealth protector. To an extent we put this down at the time to mining company hype - but this seems to be exactly the same phenomenon noted by Thunder Road. The Chinese are being converted from being the lowest per capita gold consumers in the world to a nation of small precious metals investors. Now, by next year, Chinese consumption of gold is likely to exceed that of India, which has been for years the world's biggest gold market. And one suspects that the potential for gold purchasing by individuals is only in its earliest stages. As more and more Chinese move into the cities and individual wealth grows, this trend is only likely to accelerate.

 

Paul ends the piece on Chinese gold and silver potential with the following comment: "Simply put, the Chinese government is trying to trigger a national gold craze...and it's working. The Chinese public now has gold trading platforms on steroids.... ...Also, for the first time in history, Chinese investors can even trade gold abroad (in London) with the swipe of a ‘Lucky Gold' card. I can't even get Bank of America to open a foreign currency account."

 

This may be an overstatement of the case from a precious metals bull - or it may not! Certainly if China is indeed pushing the public to buy gold then there may well be a hidden agenda here. It's unlikely they are doing it and will suddenly pull the rug out from under millions of investors. A cynic (or a raging gold bull) would suggest that this will precede a move to switch a good proportion of the country's reserves into gold which would have a huge effect on the global gold price and could prove disastrous for the dollar. Maybe it's not in China's interests to drive the dollar down too much until it has managed to divest itself of the huge dollar overhang (see the article on Chinese Sovereign Wealth Funds we published yesterday - Chinese sovereign wealth fund dumping dollars for strategic investments like gold ). The country may well already be, of course, surreptitiously building its gold reserves without reporting the build-up.

 

If the Chinese are indeed beginning to buy gold and silver as the quoted report suggests then this has to be a strong signal that prices are going to rise, and perhaps rise dramatically, in the relatively near future. We await comment from other China watchers for confirmation of the gold and silver buying spree, but with global gold production at best flat and probably in decline, even a small increase in Chinese buying could have a substantial impact on gold and silver prices.

and...

Hong Kong recalls gold reserves, says it can store it at home

Invites Asian states to store bullion in new facility, in bid to become gold hub

http://www.marketwatch.com/story/hong-kong...d=rss&rss=1

For Gold traders, here's a little item that appeared in today's paper:

Precious metal depository opens

 

The precious metal depository at Hong Kong International Airport opened today and was appointed by the Mercantile Exchange as a gold storage and physical settlement venue for its members and market participants.

Singapore, Bangkok may be new gold trade centres - http://economictimes.indiatimes.com/Singap...how/4949614.cms

What about a break out in the upper direction, gold is currently 975.8.

On the upside, break of 974.3/992.1 resistance zone will be the first alert that rise from 681 is resuming and will turn focus to 1007.7 key resistance level for confirmation.

Follow the link for some graphs.

Gold Daily Technical Outlook - http://www.oilngold.com/ong-focus/technica...k-200909028542/

Intraday bias in Gold remains neutral for the moment. We'd expect some more consolidation between 931.3 and 974.3 and will stay neutral as long as Gold stays in this range. Though, a break of 931.3 will indicate that another fall is indeed underway for 904.8 support.

 

In the bigger picture, price actions in gold remains choppily bounded in converging range between 865 and 1007.7. While there are some possible developments inside such range, there is no change in the preferred view that it's merely consolidation to larger rise from 681, and should be near to completion. On the downside, in case of another fall, strong support should be seen at 904.8 support level and the case of deep fall to 865 is not likely. On the upside, break of 974.3/992.1 resistance zone will be the first alert that rise from 681 is resuming and will turn focus to 1007.7 key resistance level for confirmation.

Pinched from GIM: http://goldismoney.info/forums/showpost.ph...postcount=28983

EDIT: well - maybe not. 990/995?

Has anyone else noticed that if they 'catch' a gold price breakout on the kitco charts as it's happening, it then stops at that very moment and then drops down as soon as they refresh a couple of seconds later?

I glared at the chart for you - better?

EDIT: oops. The thought of a rocket picture just fleetingly crossed my mind - seems that was enough.

Really not too sure how much of a visionary Bob Hoye is, he seems quite blinkered to me.

Hoye's been wrong all summer long (and then some) with that call. I decided not to renew my half-price subscription - you don't miss much just by keeping an eye on his stuff released on 321gold and Howestreet really.

Still, things feel 'unstable'.