aardvark

You may be right Pixel8r, the big test comes at $18 though - we will see then if silver follows gold in an upwards direction

bye bye $18 - smashed straight through it!

GBP is in trouble as well. I would expect well in excess of £1000 an ounce (eventually).

i can honestly see it reach £1000 some time next year - the pound doesn't have to fall very far for that to happen.

At some point the investors will see there is no value in holding gold and they will sell to buy something useful which could be plastic or whatever is useful to them. Meanwhile other investors are investing in plastic already

 

My point was that the world is different and we do value things differently today than when there was a gold standard.

 

Gold has to be useful to have value. A certain amount goes to jewelry, in dentistry gold is still the most valueable material for a crown in terms of biting ability and durability. Gold is fantastic for electrical contacts and as wires in tiny integrated circuits. Etc. Etc. For sure it is valueable. But it still has to compete with other valueable materials and there seem far more of them today than in former times.

but silver is incredibly useful and its use is increasing year on year, out striping mining output.

The superior electrical conductivity of silver is unsurpassed and plastics will never be able to beat that.

more many industrial applications there is no substitute to silver.

ooooooooohh.... i just saw it hit 1099.1 - sooooo close

Good point

 

But I'm beginning to wonder whether we will actually see another "event" such as the violent credit freeze and subsequent deleveraging that we saw in 2008.

 

After all Why would we? - I strongly beleive that what we saw late 2008 was a shock, "unexpected" (to the mainstream ,not us). The CB's clearly now stand ready to fight any liquidity issues to the point where even the first whiff of a freeze will be met full force.

 

Does anyone really think we will see a deleveraging panic equal to 2008? not IMO - I fully believe that it WILL happen but the style in which it occurs will be different - think the slow grind fought by CB's every step with their printing presses.

 

It seems that many are preparing /positioning for a set of events that are similar to the panic deleveraging of 2008 - is it possible to get the deleveraging without the panic thereby opening the door to changed inter-market correlations?

i agree completely.

Now that the public know things can get worse it gives the CB's and gov's room to take more drastic action (like printy printy)

Months ago I bought 1 silver and 1 gold Panda from CID (a dealer I trust). I decided that was all the Chinese I would buy, especially silver.

 

I wouldn't touch any Chinese silver or any silver with a Chinese connection with a barge pole. Why risk it?

to be fair the fakes are pretty easy to spot. That fake looks terrible com[ared to the real one.

I have 60 silver pandas and they are one of the nicest coins i have (all real btw).

Does anyone know what happens to gold bullion coins involved in a housefire?

I've always wondered w.r.t. my stash, but has anyone got any specific knowledge on this?

 

Gold has a melting point of 1064 Celcius, so kruggers and britannias should be alloys that melt in that ballpark temperature range. Is that hotter than a typical housefire?

 

Also, would smoke damage make bullion coins unidentifiable or unsellable? Could a fire-damaged coin still be sold for a decent % of spot?

 

Thanks in advance

although i'm not an expert i would think 1000 degrees is doubtful in a house fire - maybe in isolated hot spots but you have to be unlucky for it to be in the same place as your gold.

smoke damage is nothing on gold - it can be cleaned off pretty easily with the right chemicals and won't effect the coins at all. once cleaned i doubt you could tell the difference.

ok, what just happened?

gold and dow off a cliff!

edit: ahh, london close.

Perfect storm for silver brewing as antibiotics substitute--Silver Institute - http://www.mineweb.com/mineweb/view/minewe...5&sn=Detail

 

 

 

Not new news but of note...

silver is a good antibacterial but its not really the universal bacteria killer that a lot of people assume. There are many bacteria that are resistant to silver and a number of others that have developed a resistance.

Its definitely useful but the way its talked about on the internet you would think it can kill 100% of bacteria all the time and that simply isn't true.

I know he claims to have called it and made a mint, but seriously, how badly did he get burned in the 1980 bubble?

it must have been a nasty burn for him to be so angry with gold for all this time.

stupid question - what is the new york globex market and why does it open at this ridiculous time?

In GBP its still cheaper now then it was in Feb / Mar 2009, spot was £680 then due to the weak pound. Spot today is about £654

tell me about it - i still have some britannias i paid £726 each! :lol:

lets not forget that these inflation adjusted prices are based on official cpi's which have been heavily manipulated, especially in the last decade.

whats the all time high? $1030??

a strange time of day for gold to be rising?

Are the old British silver coins free of capital gains tax?

as they are no longer legal currency, i assume not.

i also saw that they had only been formed this year - for a few hundred quid its not worth the risk imo.

i like the 1kg coins and wouldn't mind one of the new tigers - they are £100 more than when i last got one though

still up in pounds - the hedge is doing what its supposed to do!

did some bad news just happen in the US? employment figures out today?

OK, sovereigns done. Good. I'm looking for plastic storage tubes (not capsules) available in UK online. Anyone know where I can get them?

 

[sovs from CID. Cheapest physical I could find. I've now stop-lossed an equivalent sum of paper gold so should now have additional upward exposure without concomitant downward exposure]

let me know if you find any.

i wonder if smarties tubes are wide enough?

Is goldline.co.uk reliable? They are offering some good prices on their sovereigns at the moment. Previously were much more expensive than CID.

very reliable.

thats a nice price to wake up to

being a chemist i use nitric acid all the time - i would NOT like to use it without a fumehood!!

lol - they're really prepared for trouble!