nicejim

I agree with most of Pixel8r's sentiments but I do disagree about trading being a bad thing. It takes capital as well as labour to create value, and for those who have only 1 (or not enough of both) there has to be a market for each, and trading the market is not a zero-sum game when value is being added. Investing starts with 2 people coming together - one with an idea and another with capital, business skills etc. If they can get the idea off the ground and make some money that's a good thing (it shows that other people appreciate the idea and are willing to exchange their own labour/capital for it), but the investor in this scenario will want a higher return than many other people. Whilst the investor's money and skills are tied up in this project we all lose out because there is another project somewhere, the outcome of which we would be willing to part with our money for, which lacks funding and direction. That's where traders come in - they provide liquidity by buying the investment in expectation of selling it at a later date to someone who is happy to invest in the project at a time when there is less risk and lower future returns. So, traders are middle men (like estate agents and mortgage brokers ;-P). We might not like their existence or the percentage they take (in my experience, IT recruitment consultants sometimes take over 25% of someone's hourly rate) but they serve a purpose. I've no issue with traders unless they're taking no-lose gambles with someone else's money.

I was just thinking that myself. Nobody's going to be happy.

Thanks for the summary Steve, I usually get confused trying to work out what's going up on the currency charts. Also, gold is going up against silver. The ratio is a smidge over 73, from 71ish recently.

Is anyone here shorting it?

I think the PPT installed a new rollercoaster. I don't know whether to buy, sell, cry, run to mummy... Fortunately I did some of that "buy the dips" stuff today. When the sales are on it's a shame not to.

I logged onto goldmoney, read an email, came back to goldmoney and the prices had gone up about £20 for gold, 20p for silver. Never seen anything like it! USD is getting a kicking and the FED reports on its meeting in 20 minutes from now I think. I'll save my evening jog for later...

Meanwhile, some see a sell opportunity http://www.numismaster.com/ta/numis/Articl...;ArticleId=6323

I never usually go on that page. Yep, no kilos but they do have ounce bars. Ounce? Of silver? For more than a Britannia?

Yes, I was wondering if it was something to do with the currency being ****ed rather then some longstanding tradition.

I didn't know that. Which countries?

Whilst gold's value is not generally accepted, eg. you can't go into a shop and see a can of coke priced in gold milligrams, will it not behave like an investment?

That chart is for an investment but the iphne is a product. Product lifecycle:

Taking Baird's as a price guide, they're charging £187 for the coin and £38 for the cardboard

Was that on the way in or out?

Gold is a much smaller market than tech stocks; equities was the default investment for at least a few decades before the tech bubble whereas gold has been out of favour in the rich part of the world for generations. I'd not expect the mania to be as visible in gold as it was in tech and it doesn't surprise me that I am the only person I know who owns gold. However, the coin and etf sales have gone parabolic lately and $1000 is a nice round number at which the early investors might want to take some profits. As Frizzers and Bubb have pointed out, the charts look bearish at the moment, and the big players will likely be responding to that. Then there's the manipulation to consider.

I look at that and replace the word "Gold" with "Tech Stocks". I know the fundamentals are different but that page makes me even more sure of a pullback.

"My heart sank" LOL. One good thing to come from this catastrophe will be that the best minds will aim to become engineers instead of "financial engineers". That will make us far better off in the long run.

I take it this is in relation to GLD buying more gold in January than was mined. Why is there an assumption that they didn't get it from some other source? Have they announced that it was all newly mined stock?

Great thread today guys! I was watching on kitco from work but The Moment happened on my way home. I thought it would be a case of "maybe tomorrow" From: The WCW kruger price is from when they last had any in stock!

Here's an obscure one for anyone caught short when the...crocket...comes

Did you offer them 80% of face value?

Is that when nobody takes the blame?

Because if it didn't end it would be a plateau

I've not seen these posted but think they might be of interest. http://gata.org/node/7166 China said sticking with U.S. bonds despite depreciation That reminds me of "it's our currency but it's your problem." http://gata.org/node/7171 China bank regulator clarifies, says U.S. bonds are not only option Hmmm...but he was negative on the other alternatives, except for gold.

That's good to hear. They seem to be the cheapest whenever I look but I've been buying silver lately. I'll give those guys a go when I next get some sovs.