DoctorSolar

BTW, I think I will refrain from posting on this threat until the word "trading" is removed.

Yes I think it pretty poor form of Dr B to not respond to your (and others) question as to why the title now only has trading in it. There has been quite a bit tension on the board of late and Dr B has taken some unfair and unwarranted bashing. But this doesn't make it right not to reply to a reasonable question asked by reasonable and valuable members.

The "full of it" comment I also took exception to. I enjoy your posts GF so please keep posting. I will happily tune in to a separate thread and contribute what little I can.

Im continually adding to my physical silver stash and I notice on ebay UK that 1oz commemorative sterling silver coins from wee commonwealth islands etc are regularly selling for 10% under spot. They don't state their silver content on the actual coin but come with a certificate stating the purity and weight. Any of you chaps reckon these are a good buy? My thoughts are silver is silver. But maybe folks just prefer the well known bullion coins and are not interested in such things even at a discount?

Why is the gold thread suddenly a gold trading thread ONLY??

 

 

I don't want to trade gold. If I wanted to trade, I would only trade Poople or Micropoop, for cr@p's sake.

 

And why is the undertone/-title ONLY bearish again?

 

Can we at least let the thread title be NEUTRAL?

Fair point GF. I reckon this site has a fair number of lurkers who are reading these threads as a means to educate themselves and protect what little wealth they have. Given current demographics of this site I imagine a significant portion will hold this wealth in GBP. This is why I and others are at pains to point out that if you do not have a core position in gold and silver yet you really need to get one RIGHT NOW!

Do not wait for a dip if you are holding GBP. Get a core position no regardless of price.

If you have money outside of this core position you can afford to lose then fine trade a way and best of luck.

To be fair Dr B has consistently stated in other threads that those in GBP should look at gold.

Perhaps we should have two separate threads? One for trading and one for investment?

$993.

 

I guess the "green $h1tes" are flying high, or the deflationists have entered naked gold shorts.

I'm loving these dips. Gives me a chance to get my remaining savings out of GBP

I am a buyer of any and all gold weakness here.

A nice pile of paper probably.

As predicted by Dr B (?) and others, GBP is falling as fast/faster than Gold.

All of which totally validates the do not wait for a dip if you are holding GBP approach.

You could of course convert to USD and then to gold later but this is a big risk for someone who does not have a core position yet.

Brown sold half the coutries gold at the bottom of the market but not to worry fellow UK residents!

Huge Anglo-Saxon gold hoard found

The UK's largest haul of Anglo-Saxon gold has been discovered buried beneath a field in Staffordshire.

Are you still thinking UK house prices will fall to an average of 100k from here Dr Bubb?

Or is sterling now so doomed that everything will go up in nominal terms?

http://www.telegraph.co.uk/finance/comment...ing-frenzy.html

 

Gold investors warned to liquidate after 'buying frenzy'

 

London's leading gold forecaster has advised clients to liquidate holdings of gold and silver until the latest speculative fever abates, warning that futures contracts on New York's Comex exchange are flashing warning signals.

...

 

Found a fantastic response to this that wraps up my thoughts very succinctly:

The implication of all this is that gold - and silver, too - are just comestible items to be bought and sold like paper currencies. We beg to differ. If people believe that fiat currencies are doomed, especially the dollar, and that any recovery from the financial crisis will be fitful and slow and include a deserved bout of price inflation, then they will likely be holding what they have in terms of precious metals and buying on dips. But why would you sell? Are people so adept at timing the market that they can move in and out of metals markets with consummate ease. That's not even the reason to buy metals - to take profits. Right now you probably buy metals to stave off all the problems your portfolio can experience if you leave it exposed to paper money equity and debt markets.

http://www.thedailybell.com/523/Gold-inves...ing-frenzy.html

As I have said elsewhere I am starting to genuinely think we will look back at all these articles and posts saying "time to take profits" and book them in some fiat currency and laugh.

Take profits and book them in to gold and silver!

The video of they guy saying "if you are buying gold now you are buying from me" really made me chuckle. Maybe I will write to him and thank him for selling it to me so cheap

:lol:

 

But seriously, keep us posted how Hoye's advice is working out.

 

The problem all these guys have is that you can't write a newsletter every week/month that just says "buy gold and silver and hold". So they encourage you to trade. So, naturally, sooner or later, you'll lose your shirt.

It is now abundantly clear that those seeking to preserve their wealth should buy a core position of gold and silver and hold. If you wish to get fancy by thinking you can trade this market go ahead maybe you will get lucky. But as GF says that is often the road to losing your shirt. I tinkered with a tiny trade on the GS ratio and learned my lesson. Fortunately at only a small loss.

You could also try and finesse your entry by trying to predict that there will be some big sell off and you will get an ounce of gold for Prechters 400USD or Hugh Hendry's 600USD. BUT what if they are horribly wrong! Again the message is clear DO NOT muck about trying to finesse things here it is far too dangerous. Instead commit to converting a set amount of GBP in to gold each and every week/month regardless of price. I have done this since June and have been well rewarded.

I'd say it is nice to see that people start realizing that $1,000 is just a price like any other (e.g. $834). It's NOT either off to the moon or "all bets are off". IMO, people should get a grip.

I couldnt have put it any better GF. Lovely stuff.

Roger Weigand says $1007 is/was a price to watch out for, as it would be a double-top and would trigger profit-taking. Interview (audio) on kitco -- link at the bottom of this page: Sept 2nd interview

As I mentioned earlier I wonder when more people will start doing what RH and others on here are doing and take profits in gold! Sometime reasonably soon i think taking profits in GBP or USD will be seen as quaint/foolhardy

"If you're on the Buy here, you're buying from me"

 

-says the maker of this Video on Gold:

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

I wonder if/when we will look back at such videos and think "How quaint. They still kept score in USD then".

Im in a bit of a quandary. I can buy some sterling silver medals that contain 2oz silver each and are hallmarked for 10% less than spot. Alternatively I could buy some more government minted coins e.g. philharmonics but these are 30% over spot.

Which would you buy and why?

Im tempted to go with the medals as silver is silver and they are hallmarked.

Edit: I know I could go with brits and avoid capital gains tax and all that but the brits are just too much over spot for my tastes.

Gold approaches $1,000 an ounce

 

http://www.ft.com/cms/s/2/5919caca-9979-11...144feabdc0.html

 

Does anyone have any info on Ascot Mining? What are the risks for a 20% discount? Other than the company going bankcrupt before delivery?

Ascot Mining is offering investors a special deal on gold as part of its attempts to expand its mining production. Investors willing to buy at least 10 ounces can buy at 20 per cent less than the market price, with gold delivery 12-18 months later.

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?

No, just a few guys in the metals and jewellery markets. I was talking to someone that owns one of these companies and it is not getting the response that it hoped for as many people prefer to use a local jeweller or pawn shop.

Some may be doing better than others. My folks run a post office and see a steady stream of parcels being shipped of to postalgold and cash4gold etc... any jewellers/pawn shop owners here noticed an increase in gold trade?

Hoye's been wrong all summer long (and then some)

He almost admits as much on this weeks howestreet audio

At just after 6mins in he says he got stopped out on his silver short position. That will be sweet music to the silver bugs

I swapped silver for gold on his forecast like a few others. No been a good move so far. But maybe by end october it will be a different story?

What twins?

 

Good luck your life will never be the same again... Think of all those dens you can build for the wee one out of your silver bars...

Thanks all. I might just have to get one of these for the wee one. Best to start them off early

The 2009 Gold Bullion Baby Sovereign

Cmon baby.....just..one..more..push......

I'll be saying those words in a different context in 2 weeks... first child due. Hoping it will be a double celebration

going steadily up - exciting stuff!!!!

996.80USD kitcos gold price charts must be getting hammered now

All the goldies hitting f5 to watch it sail over 1000USD

I think statements like this are moronic. It either goes to the MOON, or, OH HORROR!, all bets are off!!

 

Agreed 100% GF. Its just plain daft thinking. The same type of wrongheaded thinking that makes the likes of Mr Paul Hill in Moneyweek claim gold is in a bubble just because it did not hold over $1000. So higher prices would indicate we are not in a bubble? My god man with thinking like that you would be buying buy to let properties at the peak in 2007!!

All of which makes me realise the supposed experts get it wrong a lot of the time. Sun Micro a good buy at 13USD Paul Hill?! Now bought out at 9USD

Trust your own instincts. If gold looks good then don't get too fancy. Average your way in.

GLD volume is meaningless when the big money buys loco London.

Agreed 100% too

Could this really be possible ? : $650 Au before $1007 Au (so close and yet so far)

Possible but highly unlikely. Gold rebounded quickly after the crash last year and has maintained these levels. A dip is of course possible but I'm with RH and think the floor is now in at around 900USD. Those like me holding sterling have probably already seen the low at 562 GBP. I very much doubt it will go below that now given the dreadful state of the UK.

My strategy of buying each and every month regardless of price over the summer has done well so far. I didn't have a big enough position to feel secure so didn't want to wait for the big crash in case it didn't materialise. I would advise those in sterling that dont have decent position in gold to average in asap.

Hey guys, could anyone provide me with links to the threads where PM ETFs get discussed, i.e. why you shouldn't really invest with them?

 

Cheers.

Hi, GF I know you know all this already but for anyone new to this the following clip highlights all the dangers. No one in their right mind would consider these ETFs or futures an investment in gold or silver. Buy physical ONLY or shares in good mining companies.

From:

I know it can be frustrating.

But try to look at it rationally: this rally was manufactured by the government, through reducing rates to

record lows. The low rates are ruining the future of the pound, and the UK economy. They cannot be

sustained forever. The UK cycle doesnt bottom until probably 2012/13 (or longer), and there's room

for a 30-50% fall (maybe more) from present levels. Look away,and dont even think about buying

until late 2011, when it is worth studying the market.

 

Dont fall for the low-rate-con-job !

 

Keep building savings, and you will be in a strong position to buy when the market does bottom.

Thanks Dr B. Makes sense.

With the future of the pound being ruined by current low interest rates I've mostly been saving through buying gold/silver/palladium. Views are pretty split at the moment how these will fair over the next quarter so I have stopped buying for the moment until the picture becomes a little clearer. Im hoping that at worst the pound will fall more than these metals collectively by 2011.

Same wrong prediction then Ker. You have called for $450 gold before and were wrong then, so why are you trying it again?

 

You were short when calling for $450, then went long on gold lwhen it proved to be wrong, now you are back on the short side. When are you going to learn that trying to trade gold is not very sensible and 8 times out of 10 you will get it wrong. The trick to investing in gold is to understand the fundamental reasons for it, eg. wealth preservation, hedge against government stupidity, fiat currency crisis etc, etc etc...

 

You will not fool many on here with you mad predictions, without backing your theories up with something substantial. So far in your posts you have lost a load of money, do you have endless pockets or is this just mindless drivel with nothing behind it? I know which gets my vote.

Maybe he should do the exact opposite of his instinct just like George Costanza does in this classic Seinfeld episode

From:

My own view is that the Feb.2009 low will be busted, and that will usher in a panic which

will demoralise the bulls, probably sometime in the first half of 2010. Once this shock hits,

the market will move lower, as homeowners realise the market will have to grind down and

find a lower low somewhere, possibly out in 2012/13.

I sincerely hope you are right Dr B. As you may have seen from a few of my posts on the subject house prices here in Edinburgh seem to have barely fallen at all and I am still priced out the market even though both myself and wife have what I think are good salaries in stable jobs and a sizable deposit (35% at current prices).

Sadly to get back to sane prices we will most likely need to see a massive wave of repossessions. People wont sell at a loss unless forced to. Low interest rates have bailed the over stretched out for the time being. Will the UK gov keep bailing them out? If they do then we could trundle along at current prices for quite some time.