FWIW

Hi all,

 

I am wanting to finally buy some coins today, just a few grands worth to start me off, but who's got any 1oz eagle, krugs etc left ??

 

I have tried a couple of sites but they are out of stock.

 

cheers, GOM

Hello GOM - This is music to my ears!

I have used Coininvestdirect and they are very good and efficient! These are the guys to use if you want to go online only.

I have also used ATS Bullion, but I went to their shop(premises really) and bought over the counter. I had to call in advance for them to put some coins aside for me. I got kruggers, maples, buffalo's, and pandas - Again no problems...

I have also bought from the Royal Mint (I wanted some Brittanias and they had a nice box set - was expensive though!).

Good luck mate!

From: http://www.streetauthority.com/terms/index/goldbugs.asp

Many thanks for that - just what i needed...

Looks like we are in for one bumpy ride...

If $HUI breaks through 198 - we are in trouble...and need buyers.

If $GOLD breaks through 740 - we are in trouble...and need buyers.

If $SILVER breaks through 9.0 - we are in trouble...and need buyers.

If I see a turnaround at these points and I will be especially watching Ker's 770-760 level, I will be in and out for profits...if I am feeling lucky!

I have been looking at the hui index as per pnf charts...

Can someone explain to me what the hui actually is and why it is useful? (I only need the gist and not a lecture please!)

There seems to be far too much volatility in what I see in it as compared to just normal gold and silver...

This scares the crap out of me....

From 321Gold.com:

http://www.321gold.com/editorials/moriarty...arty102108.html

Quote:

People who have been following this site know that I have been predicting a depression for years. It's here. Even the dolts in Washington are starting to figure it out. The credit system has ground to a halt. Commerce is on the verge of a complete breakdown. 18 hours after the bank holiday starts, the riots begin.

Physical gold and silver are insurance policies against financial chaos. We have financial chaos. You can still buy an insurance policy and that's the greatest deal in investment history. You think governments printing of $7 trillion dollars of kerosene dumped on a financial holocaust won't have an effect? It will.

The United States dollar is going to default soon. We have known since late 2002 that the US was in deep trouble. Treasure Secretary Paul O'Neill revealed the United States Government had a real debt of $44 trillion and it was growing at a rate of $2-$4 trillion per year. As of last year the debt was up to $59.1 trillion.

This was posted elsewhere by Gwizzie (thanks!) but deserves to be seen by everyone reading this thread:

http://news.goldseek.com/GoldSeek/1224424800.php

Cash was king - now gold is God

 

Gold and silver traders are frazzled trying to locate, buy and ship stores of gold, whether coins or bars

 

http://www.thefirstpost.co.uk/45599,opinio...-inflation-soar

Nice article - I liked it!

OK - Open question to all: Is Gold Money safe? I have 10% PM....want more, but is physical the only real way? GoldMoney looks good to me...but as Pluto says - why leave your life jacket at home when you go out sailing?

PnF charts are garbage imo. Only last week the gold one has a bullish price objective of $1350 and now shows $690.

 

I'm not looking at the chart right now but silver has massive support around $6.50.

I agree that StockChart's Price Objective is crap (if you what you say is true, then the PO for last week was not only wrong but miles away from 845 that i would have calculated) - I have never used stockchart's PO in any of my clacs...but that does not make PnF charts crap. Still a useful tool in my book.

Anyways, will keep going at this to see if it is useful or not. Let me know if you want me to continue sharing my info.

I have now finished my analysis for the silver pnf charts, using the same methodology as I used earlier for gold.

http://stockcharts.com/def/servlet/SC.pnf?c=$silver,P

Using the above chart and a ruler, here are my guestimates:

If Silver breaks through 9.00 support, then will go to 5.5 or 5.0 as lowest.

If Silver breaks through 10.5 resistance, then will go to 12, and past that to 16.

So, if I had to choose Gold Vs Silver at the moment I would go for Silver whilst I wait for Gold to come down to 740, 715 or 700...

What do you guys think?

Understand what you are saying, but to me that only applies to my physical gold and silver.

As I believe the comex is being manipulated, then it makes sense for me to buy and sell paper gold and silver...it also gives me a chance if PM goes to the moon as hopefully I will not need to actually sell my physical...

Ok - just spent a few minutes getting my head back round pnf charts for gold - i used to swear by them when i believed in shares...and they helped me get out of the market with some nice profit once i realised the house always wins...

Using this chart:

http://stockcharts.com/def/servlet/SC.pnf?c=$gold,P

and a ruler, I think we are in for a world of pain...I guestimate that we could go to lows of 740(hopefully), 715(medium) or even 700(worst). Also 860 looks like the resistance level - if we break that then we could go to 920...

Just my opinion - please don't take this as investment advice....but please keep me updated if you think I am wrong or right. I would like to refine my methods...

Not to get into the TA debate, but Ker what are your thoughts on point and figure charts. I think you would get better channels using them...

The pnf charts are the only ones I have any real faith in as they filter out all the noise...still they only help, they do not decide when to trade...

As wrongmove has pointed out, there is *always* a need to keep a sense of perspective on precious metals, and you'd have to be extremely brave -- or called Goldfinger :-) -- to dive fully into gold at any price, let alone recent prices. However even if you did, as long as you do it with your own money and not money ear-marked for the new family home, or your imminent retirement, or borrowed from a credit card, then you have -- as the quote goes -- nothing to fear but fear itself.

 

Can *anyone* honestly think that the pound or the dollar are going to retain their current value once the dust has died down? Will the Alt-A loans in the USA, or credit card debt in the UK, or the huge job losses to come in retail & restaurants etc do anything other than require more spending and borrowing to stave off social collapse?

 

This whole PM situation is not necessarily about making money, it's about NOT LOSING SO MUCH money in the face of the financial chaos. Or at least trying not to. If you're totally in any asset -- cash, property, shares, PMs -- you're asking for a thrashing with a slight chance of getting very rich indeed if you're right. Most of us though will just hope to spread our risks around and hope that something helps balance out the bad bets.

 

I'm pleased I bought PM recently even though I've lost a lot of money based mainly on the difference between buying and selling prices (and of course the VAT on silver). I think of it in the same way that I'd try to think about a house if I'd just bought it. Ok, so I overpaid. But as long as I can afford it, I have somewhere of my own to keep the rain off my head. I can similarly afford the risk that I'll never need the precious metal umbrella, but I feel so much better for having that umbrella in the first place.

 

We continue to live through historic times. The danger is that we forget that. The huge swings in markets become commonplace, and we get used to governments pulling financial rabbits out of bottomless magical hats. But sooner or later someone's going to try cutting a debt in half with the blunt saw of inflation, and there's going to be screaming from the box and blood all over the carpet.

 

Andrew McP

Very well said!

Good article here: http://www.marketoracle.co.uk/Article6826.html

Quote:

GOLD & SILVER AWAIT THEIR EXALTED STATUS

We are witnessing the disintegration cited in my recent forecasts. It is a systemic failure, marred by lost confidence and trust in the entire financial system. Expect foreigners soon to pull the rug from under the American syndicates in control. Several key meetings have already concluded, totally unreported in the US press, which occurred in Berlin Germany. Consider it the Anti-G7 Meeting. Implications are profound, and involved the Shanghai Coop Org tangentially, since its member nations possess so much new commodity supply. Consider it the Anti-NATO group. An important and powerful alternative financial system is soon to spring into action, including high-level bilateral barter. Those who expect the current US Regime to continue their financial terror are in for a big surprise.

Expect defaults in the COMEX with gold & silver, whose prices for paper vastly diverge from physical, to the anger of foreigners watching. They hold massive precious metals assets. Disparities now contribute to powerful forces, sure to break the current system. Grand systemic changes come. THE RESULT WILL BE A BREATH-TAKING DISCONTINUITY EVENT.

Ironically, the more inner anguish felt on the falling gold & silver prices, the closer we are to a new financial framework, with the US Dollar relegated to a Third World role. A REPLACEMENT GLOBAL RESERVE CURRENCY HAS ALREADY BEEN DECIDED UPON. Its launch awaits the proper moment. The Americans are last to know, as usual. The US leaders are under the illusion of being in control!

Good article here:

http://www.sott.net/articles/show/167599-W...at-it-all-means

Quote:

Why is gold dropping right now when anyone in their sane mind would expect it to rise? The simple answer to this question is, "because Comex-gold isn't gold" - and because it deceptively pretends to be 'the' price-setter for real gold.

Gold is gold, paper is paper, and "Comex gold" is nothing but paper masquerading as gold while simultaneously pretending to be the price-setting medium for actual gold in the world. Now, finally, Comex-gold is in the process of being unmasked.

I feel no loss or sadness in seeing the gold spot price come down - as many on here have said, you must get physical!

I had a mad, blind panic 2 weeks ago trying to get PM - now that I have 10% gold and silver bullion I feel relieved and prepared.

If it carries on going lower, then I will start to make use of my goldmoney account...

Again, this is an insurance policy for me...I don't really want it to pay out, but just in case...

Well always good to have aims in life! Is that for both Gold and Silver?

OK - apologies in advance 'newbie' gold question coming up.

I have just opened a GoldMoney account; can GoldMoney be converted into physical gold or silver that I can have in my actual hands? If yes, what are the weight limits,advantages, disadvantages, etc, etc?

Thanks,

FWIW

No - It's 90% of statistics are made up on the hoof...

Just go with 80/20 (pareto) rule (or 90/10 rule if you really want to be a bit different) and you will be OK...

I still can't get over being asked to have faith. In HBOS. There's so much I could have said about that, and about the reckless behaviour of banks generally. But I didn't want to bully a bank clerk for the sins of her bosses.

[GEORGE MICHAEL ON]

You gotta have faith, faith, faith

Maybe you're asking me to stay

Say say please don't go away...

[GEORGE MICHAEL OFF]

My true feelings emerged this lunchtime when I was paying a couple of cheques into the Halifax and the cashier asked me if I'd like to open a savings account.

 

"To be honest," I said, "I'm planning to move all my money away from the Halifax. I don't trust banks, I don't trust politicians and I don't trust paper currencies. I'd rather have my money in silver and gold."

 

"But if everyone did that, things really would collapse."

 

"Sorry, but I'm a real doom and gloomster. There's a thousand trillion dollars worth of financial derivatives out there, just waiting to unwind. If you're going to panic, it's best to panic first." (Dear God, I'm quoting cgnao.)

 

"You need to have a little faith," she said.

 

"Ah, well, I have no faith whatsoever in politicians."

 

"It's not just about politicians."

 

"It is if they decide to inflate the currency away."

 

She must have thought I was a right nutter.

These type of cashiers are the one's I really hate...They seem to delight in looking at your accounts...

I am sure they are on commission, everytime I go and put a cheque in the bank, it is always the same - "You can get a better savings rate if you open new XYZ account today"...I think that they think that anyone with savings is a complete idiot and require their financial advice...

I am only 10% of my annual salary in PM....

donations are welcome...

Now watching for the third time.

Just keep the kleenex handy!!!

(SORRY!!!)

Good to see gold in the mainstream media. The Rand refinery in South Africa.

http://edition.cnn.com/video/

That was very nice....seeing all 'my' precious....

Or again, to use another analogy, paper currencies will be caught up and swept aside in the whirlwind while gold remains standing.

I think I will stick to my plane analogy as it is more exciting than a whirlwind!

However, your analogy has reminded me of the Wizard of Oz....and follow the yellow brick road, etc...