aardvark

Commodities fall off a cliff.

 

The commodities move has cooled away, along with prices for gold and silver, oil and agricultural raw materials falling Friday following a record-breaking run earlier this week.A shock jump in China's rising cost of living rate spooked traders as well as started a clear, crisp sell-off Friday. China's declaration that customer costs in the country rose by 4.4% in October motivated worries that the world's second-largest economy is actually barrelling forward at an unsustainable speed.

 

Traders are worried that the Chinese government could increase interest rates, as a way to slow down staggering inflation. Since, the China is really a main consumer of raw materials that can lead to less interest in commodities across the board.Gold and silver plunged consequently. Arriving off almost every day record levels, precious metal dropped $37.80, or 2.7%, to settle at $1,365.50 an ounce on Friday. Metallic, which in fact had been striking 30-year levels, dived 5.3% in order to $25.94 an ounce. As well as copper, which was additionally rallying in order to multi-month highs, fell 2.8% in order to $3.91 a good ounce.

 

http://www.businesstoday-eg.com/markets/asia-pacific/commodities-fall-off-a-cliff.html

welcome to 6 months ago.

and we're back over £1100 again - so much for that crash

Commerzbank expects silver price to hit $40 per troy ounce at the end of 2012

 

Commerzbank is keeping its forecast for silver prices unchanged because of worrying economic conditions and on concerns the metal could decouple from gold. In a research note, Commerzbank says silver recently could not profit from the rising gold price any more.

 

“We have therefore not increased our price forecast for silver and still expect an average silver price of $36 per troy ounce in the third quarter and $38 at year-end,” says Commerzbank. “Next year the silver price is likely to move along with gold. At the end of 2012 we expect a price of $40 per troy ounce.”

 

http://cnbusinessnews.com/commerzbank-expects-silver-price-to-hit-40-per-troy-ounce-at-the-end-of-2012/

ermm, are they aware of the current price?

getting very close to £1100!

Thanks for the help. Already hold some just not physical.

 

What about the English Rose and Half Sovereigns. Are they good buys?

certainly the rose is not cgt exempt as it isn't legal currency.

i actually don't know about half sovs - i assume they are currency as the full sov is, but i don't know. does anybody else???

Hi guys,

 

I want to buy a bit more gold for the months ahead just in case, in this case I want to get a bit of physical. I was looking at Coin Invest. Has anyone got an idea of what is worth buying there?

I was thinking Canadian Maple Leafs. Any other ideas? or are bullion bars a better bet?

 

Thanks!

if you are in the uk then it must be sovereigns - they are free from capital gains tax and are also not much above spot. also, easy to sell as everybody knows what a sovereign is.

as for the wider market its interesting that gold is not being hit by the stock collapse like it was in 2008.

What happens now?

probably go up a bit more, go down a bit and go up some more.

your welcome.

Seasonals are over! This is exactly what I meant in this post. Investment demand is now larger than the demand from

the jewellry industry. Entry and exit points, should now be based primarily on economic news. And the news at the

moment is the possibility of downgrade of US debt, as well as the Italian and Spanish bonds.

from what i remember the last few years the summer drop in gold is usually finished by the end of july anyway.

You could try bairds, they advertise the prices they pay on their website.

 

Can anyone suggest a good gold price chart for android phones? Does bullion vault charts work? Thanks

i might try bairds - they say they buy bars that are not their own.

i got them from a dealer in the US and he was having difficulty getting hold of any silver at the time (2008) so i said i'll take whatever he had, so he said he had these at the back of his safe. silver is silver after all

i'm only selling them because i'm a bit light on cash at the moment - i have no doubt that silver will continue to go up

lets see if this works:

getting very close to £1000 again

i'll try and get a picture tonight.

i guess they are ugly because there are a lot of air bubbles on the bottom of a couple of them. i don't think they were poured very well.

i'm looking to sell some of my silver - i have 80oz in 4 very ulgy poured bars - and am wondering if anybody has any thoughts as to where would be the best place to sell them?

ebay is a possibility but i don't know how much interest these ugly bars will get (they don't have a makers stamp on, only the weight and purity - although i did get them from a dealer so i am 100% positive they are silver).

some of the 'we buy silver' places are giving pretty poor prices.

any other options?

cheers

that really is a great graph pixel8r, and shows just how far away we are from a top.

gold price on the bbc news front page.

 

EDIT: BTW, as some people have possibly wondered, for various reasons, I will spend less time posting on GEI from now on.

i'm sorry to hear that GF.

you were the reason i started looking at gold in the first place, way back in the hpc gold thread heady days.

Inflation is very high, going to rise. Growth in China and Germany bigger than expected. QUICK, SELL ALL COMMODITIES!!

 

You couldn't make this stuff up.

 

http://www.bloomberg.com/news/2011-05-11/asian-stocks-gain-on-economic-outlook.html

 

:lol:

i agree, it really is a joke.

short term the volatility is huge, long term the trend is obvious.

You obviously haven't been actually placing the trades you have been talking about for years otherwise you would be well broke by now, so I can only presume you are actually placing the opposite and work for someone like JPM.

 

This is a good contra-indicator sign glad to see you back.

i was just thinking that - if ker acted on anything he has said in the last 5 years how has he got any money left!

lol - this is just getting silly.

300 tonnes is nothing - i can't see how an extra 300 tonnes coming on the market would possibly make gold drop that much, it would be snapped up pretty quickly.

$46 broken

there seems no stopping silver at the moment - no idea where its going but i'm holding for the long term so just sitting back and watching with amazement!

the highest they offer is 22carat so you need to take that into account when sticking the number of grams in - clearly designed for chavs and their chavvy jewelery

Hi Guys,

 

Just a quickie, what are your thoughts on these please.

 

http://cgi.ebay.co.uk/SILVER-BULLION-BARS-...=item4aa5f84b8c

 

They don't seem to be attracting much interest with only 2 hrs to go...

 

JL

i've seen these sort of bars before and they are always fake - avoid stuff like this from china.

What is the inflation adjusted high price of gold? $2300? I heard that figure at least 3 years ago, so it must need revising upwards. And what about all the inflation in the pipe, or baked in the cake, yet to come?

isn't it more like $5000 using the real inflation figures and not using government ones?

I'd be interested to know why. Looking at PHPD and LPLA.

over the long term i am.

its rare, it has unique properties that cannot be matched by other elements, its overlooked as the poor mans platinum, its very politically sensitive with main production in russia/china, ironman uses it.....

ermm, what else?, if ever hydrogen technology advances (and there is no reason why it cannot) palladium is required.

i'm bullish on all the high technology metals simply because a much larger market (the chinese) is only just starting to advance to the stage where they need these metals.