Mr Pipples

AUDIT AFTER GOLD DEALER'S SUICIDE SUGGESTS CUSTOMERS LOST MILLIONS - http://query.nytimes.com/gst/fullpage.html...753C1A965948260

Some $60 million worth of gold, silver and platinum sold to thousands of individuals and then supposedly stored in Rocky Mountain vaults may never have existed, an investigation suggested yesterday...

Something like 90% of people polled were saying that Gold was a "Buy." Here's a question: If you thought gold was headed higher to $1,000 or $1,500, would you wait for the market to run up to buy it, or would you have bought already. If those who are planning to buy gold have bought already, who is going to do the buying to lift it higher? This may be a problem for the gold market from here.

Got a link to these polls, Dr.B? Who was polled? Makes a big difference. Are you talking hedge fund managers, high wealth individuals or was it a massive poll of the general population? Certain people saying it's a 'buy' is one thing - lots of buying actually being done is another. Did they poll China and other central banks?

Those that didn't consider or have reconsidered gold. If you are still planning - you haven't yet followed through on your plans. Have many of those capable of buying big bullion (or a big percentage of those capable of buying a bit of bullion) moved into the game yet? Then there's the whole COMEX price issue swizz lark too...

Gold is the new money - http://ftalphaville.ft.com/blog/2009/01/29...-the-new-money/

Dollars are passé, the euro is over, and the Great British Pound is, well, the Great British Krona.

 

From today’s FT:

 

A hedge fund has begun offering investors the chance to have their investment denominated in gold, as worries grow over governments debasing their currencies by printing money.

 

Osmium Capital Management, a $178m hedge fund manager based in Bermuda, is launching a new share class allowing investors to hold shares measured as troy ounces of the fund, rather than US dollars, sterling or euros.

 

The move follows a surge in investor demand for small gold bars and coins held by individuals and gold-backed exchange-traded funds that are holding a record amount of bullion.

 

Of course — deciding whether to pile into gold still means having to answer the question: What are you more worried about — deflation brought on by a global recession or inflation induced by governments’ liquidity operations and competitive currency valuations? It’s a pretty fundamental one, and something that’s being debated among central bankers as well as your run-of-the-mill commodities analyst.

 

Investors, however, seem to increasingly be siding with the inflationary outlook. To wit David Einhorn beginning to buy, and Citi’s prediction earlier this week that gold may go over $2,000 an ounce. As Citi noted then, we may just be seeing the beginning of a new bull market:

 

We continue to believe that the present trend in Gold could ultimately achieve the same percentage gains as seen in the 1976-1980 bull market.

 

That move was from $101 to $873. We have already seen a move of almost exactly equal length in nominal terms. (Prior bull market was as above $772 low to high while this time the low to high move so far is $252 to $1030 or $778).

 

However the percentage change in the last bull market low to high was 764% (A perfect Fibonacci ratio interestingly enough). A repetition of that this time would target a price of $2,178.

Apocalypse Now by Tarek Saab - http://goldandsilvernow.com/other-sites/apocalypse-now.html

Inflation. Deflation. Inflation. Deflation. Inflation. Deflation. . . .

 

...The truth is, ordinary folks aren't talking about inflation or deflation. The words are: Desperation. Starvation. Migration. Depravation. Damnation . . . Obamanation. Chem Trail Nation. FEMA Concentration.

Obama calls $18B in Wall Street bonuses 'shameful' - http://biz.yahoo.com/ap/090129/obama_bonuses.html

Obama said Geithner has already had to step in to stop one company from taking delivery of a new corporate jet it planned to buy even after receiving billions of dollars of support from the government. That bank, Citigroup, canceled the deal earlier this week.

Put your savings in gold or a bank... ? Time for the worm to start to turn? Nationalisation on its way?

Hedge funds offers to price in gold - http://www.ft.com/cms/s/0/efe1a910-ed98-11...00779fd2ac.html

The Economy The Titanic & The Life Rafts of Gold & Silver - http://www.321gold.com/editorials/schoon/schoon012809.html

HOW FAR IS DOWN

 

I saw my uncle last week. Now, in his late 80s, his mind is still sharp and his observations always of interest. Our conversation moved to the current state of affairs and my belief that another Great Depression was underway.

 

My uncle then said:

 

The difference between the Depression and today is now how much people owe. Instead of owing $15 they owe $15,000; and, because they owe so much more, this time the fall is going to be greater.

 

And, so it is.

Greenlight Founder Takes Grandfather’s Advice on Gold - http://www.bloomberg.com/apps/news?pid=206...amp;refer=funds

I fear we will see a pullback, and so I will do some selling today, if I see the right prices.

But if I am wrong, and it punches thru, they a quick move to $1,000 is very possible.

As always, volume will be a critical factor.

Balls... I'm getting mixed opinion from those wiser then me! Captain Hook is bullish for bullion and stocks over at treasurechestsinfo.com (can't post, I'm afraid - as subsciber only).

Why not just swap metals using the Gold to Silver ratio as a guide. Then you get to play the market and stay in metal, rather than paper. The commissions on exchanging metal are a lot less than swapping paper to metal.

Good idea if you're happy to play this ratio - but I'm wary of silver! Already got 4:3 ratio of G to S... don't want to be caught holding too much silver. F'd up last July by missing my stops on a big temp' silver play (no frikin internet for a week!) and decided to not trade any more silver bullion since then...

Was thinking about $/gold trade - doubt if I'll do it over next few months.

Technically Precious with Merv - http://www.safehaven.com/article-12414.htm

He's... Bullish.

EDIT: And so's he: Honest Money Gold and Silver Report: Market Wrap

I would prefer Roulette. But generally I do not gamble anyway.

Yes, that's how it would feel... Especially when this stuff is stated:

http://www.dailymail.co.uk/news/article-11...s-collapse.html

 

Banks were 3 hours from total collapse.

 

Treasury was preparing for the banks to shut their doors to all customers, terminate electronic transfers and even block hole-in-the-wall cash withdrawals.

 

Lord Myners was accused last night of being 'completely irresponsible' for admitting the scale of the crisis while the recession was still deepening and major institutions such as Barclays remain under intense pressure.

 

Im suddenly not so keen to sell my gold back into sterling!

I agree that the gold price spike in Sterling can't go on forever (it would be unnatural). One should not buy in such a period really. Much better to buy on dips or in sideway periods (which we had over many many months). However, this is psychologically difficult for some people.

Do you ever think to trade on the volatility with your GM stuff GF? I nearly sold at over £600 around xmas - expecting a dip... Thinking might make sense soon - but it's a tough one to call! Maybe just continue to buy on dips and hold - though it's sure tempting to trade.

I got in with a sneaky bit of LSIL at the dip - tee hee!

Does Manipulation Render Technical Analysis Obsolete? by Peter Degraaf | January 22, 2009 - http://www.financialsense.com/fsu/editoria.../2009/0122.html

In conclusion: Technical analysis works in markets where there is no manipulation. It also works most of the time, even in manipulated markets, in view of the fact that the manipulators also read the charts. Historically manipulations are doomed, as supply-demand factors rule in the end. The banks tried to hold the gold price at 35.00 in 1968, and during one day in April they sold 4,000 tonnes in a vain attempt to hold the line. They failed then, and they will fail in the future.

 

Thus, in the words of Richard Russell: “He who buys the dips, and rides the waves will be successful.”

Trying to bust through 830 and trigger sells - naughty.

Forgive me my ignorance but can anyone explain, please, how it can be possible to make ETn(DZZ) work

Not sure what you mean by work? DZZ can be bought through any broker that trades US stocks. To 'work' it, buy when you think gold is going to fall and sell when you think gold is going up.

That said, I wouldn't touch it with a barge pole - only for serious, experienced, traders.

Gold and Oil Short-Term Trends - http://www.moneyandmarkets.com/gold-and-oi...rm-trends-29178

Bull and Bear factors.

Hmmm. What do you guys think? I have some currency ££ things, you know, "I cant believe its not money". What looks the best buy, gold, silver, platinum or paladium or shall I wait and build my cash position to buy on weakness? Whats your gut feelings?

If u put some credit in what Hoye, etc are saying in Frizzers latest podcast, then maybe buy silver at GM with the option to swap for gold (or other currencies) later.

cgnao's pretty quiet on here nowaday - is he posting elsewhere? Anyone spotted the lad?

Gold Market Update by Clive Maund - http://www.safehaven.com/article-12211.htm

Silver Market Update by Clive Maund - http://www.safehaven.com/article-12210.htm

Mr Maund is expecting a significant short-term pull-back.

John Rubino - Gold, Silver (and Green Tech) Going Up *AUDIO* - http://www.howestreet.com/audio/johnrubino_2008_1231.mp3

Gold is selling at all-time highs - http://www.ft.com/cms/s/0/c52952b0-d937-11...0077b07658.html

From Mr Peter Munk.

 

Sir, With reference to Lex and “All fall down” (December 27): Well, not quite all! Your column talks about stocks, bonds, real estate – even art – but never mentions gold. Yet, until very recently, gold was not only considered the global currency, but its price was a measure of the strength of a country's economic health, currency and fiscal responsibility.

 

Your omission of gold is even more surprising considering that gold – in contrast to all other investments – not only has not fallen, but is selling at all-time highs in the currencies of those countries in which its largest buyers are domiciled. It sells at nearly all-time highs in Indian rupees, Russian roubles, Japanese yen, Turkish lire, and British pounds – maybe even the euro. When considering the current global conditions and the desperate need for liquidity by all forced to de-lever, and gold being the sole asset that can be turned into cash at a profit, its performance is nothing but astounding!

 

Lex’s failure to mention gold at all is somewhat hard to understand. Your newspaper – one of the leading voices of global finance – should focus on and try to explain gold's re-emerging role as a true store of value, especially at times like these.

 

Peter Munk,

Chairman,

Barrick Gold Corporation,

Toronto, ONT, Canada

Nice balanced article:

 

Highest Gold Value Ever

 

Nice way of charting golds price value also:

 

MOREAU Index

 

SafeBetter

Ha! Just came to this thread to post that very link! Like what it says about silver...

Last paragraph:

Buying food and improving security now will be a great investment – Bullish as I am about the prospects for precious metals, I continue to view them as only the second best investment that one can make. This is an excellent time for everyone to review their personal security posture, and to increase the amount of food they have available for emergencies. I hope that readers will not need either improved personal security or increased storage of emergency food, just like I hope that they will not need to collect on fire insurance. In troubled times, it is less important to worry about what we hope we will need, and more important to insure our families against risks that could be severe. Best of luck to everyone throughout 2009. Cheers!

I'd suggest that, although some emergency scran is a good idea, thinking more about growing your own, allotments, etc. would make sense too.

From GATA:

Rob Kirby: Morgan Chase's gold derivatives soared as gold was floored

Submitted by cpowell on Wed, 2008-12-31 02:28. Section: Daily Dispatches

 

9:19p ET Tuesday, December 30, 3008

 

Dear Friend of GATA and Gold:

 

Correlation isn't necessarily causation, but anyone who believes that JPMorgan Chase does anything that isn't encouraged by the U.S. Treasury Department and Federal Reserve should pursue getting a conservator, as is suggested by GATA consultant Rob Kirby's review tonight of the U.S. Comptroller of the Currency's quarterly report on gold derivatives. Kirby, proprietor of Kirby Analytics in Toronto, finds that a huge increase in JPMorgan Chase's gold derivatives book in the third quarter this year just happened to coincide with a hammering of the gold price.

 

Of course as long as the U.S. government can contrive money into existence at will, without any oversight, and pass that money along to its favored agents in the markets, and as long as participants in the gold market accept paper promises of metal instead of taking delivery, the price of gold will be heavily weighed down by the price of imaginary gold.

 

Kirby's analysis is headlined "Government-Sanctioned Theft" and you can find it at GoldSeek here:

 

http://news.goldseek.com/GoldSeek/1230678365.php

 

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

An Email Exchange and Tightening Production By: Theodore Butler - http://news.silverseek.com/TedButler/1230657055.php

Crikey, well I'd best not post anything from JT again without a 'VI warning' then, eh?

Gold and Silver in 2009 by James Turk - http://news.goldseek.com/JamesTurk/1230583965.php

 

You'll like this! - obviously! [VI WARNING!!!]