lyb

In UK at least, physical gold ownership seems to me like more tax efficient.

Also, holding GLD when you live in GBP means you're depending on the USD <=> GBP exchange.

 

That's why I "hold" physical in GM and BV.

 

But, probably there are a lot of things I don't know about, so what would you do, DrBubb, if you wanted to hold gold but were living in GBP?

Buy GBS perhaps in LSE ?

A race between gold and platinum. Platinum prices probably supported by the rise of gold.

Any bets who is going to cross 2000$ first ?

My thesis is that as this bull market goes on, corrections become gradually smaller in percentage terms.

Does anyone remember the brutal correction from 720$ to 550$? Initially, corrections were deeper.

I expect a correction by 100-150$ any time, however, a correction to 1300$ is unthinkable, given the strong interest in gold and the number of people waiting in the sidelines. Besides demand by the jewelry industry will pick up shortly. The implication is that trading gold to buy back at lower price, will become increasingly more difficult.

Commerzbank is one of the biggest German banking turds. Don't touch them. Just like Societe Cr@piale, Commerzcr@p will sell you long dated out of the money calls on silver and similar. Death wish! By coincidence, I have some silver calls with them (I had a little money left in my brokerage account, so I just moved it in there). Guess who has lost money on these calls already?

Perhaps it is better to invest using SLV,PSLV or SIVR vehicles. They seem simpler.

Stupid prediction. It will be hit this September.

He was criticized because he missed it by few months. In fact, not only did gold reach 1650$

but, given the fact that the prediction was made in 2001, he could easily have missed it by 2-3 years.

he was extraordinarily close even in the timing of his prediction. 6 months in 10 years is equivalent to 5%.

Congratulations Mr Sinclair !!

New record at 1640.20$ moments ago. This is a summer like no other. I am glad I have repurchased all the PM sold in May. The rate of price appreciation has recently increased with the corrections becoming increasingly smaller, so that it may be best to adopt a policy of buy and hold, unless someone is an experienced trader.

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.

New record at 1640.20$ moments ago. This is a summer like no other. I am glad I have repurchased all the PM sold in May. The rate of price appreciation has recently increased with the corrections becoming increasingly smaller, so that it may be best to adopt a policy of buy and hold, unless someone is an experienced trader.

Makes sense if one is building a core in bullion. But then I wonder, if the trend is clear, why not just pile in 50% or your liquid worth or so... and hold back with some funds if concerned about a large correction, or if concerned you might be being deceived by some evil genius.

I am about 90% invested in PM, started in 2005. Purchases are made with profits from selling silver in May. What is interesting,is that trading is difficult, if you have to worry about the stability of your bank, while you are waiting

for the next buying opportunity. You may share this experience in the future when this crisis spreads.

I am now convinced that physical in your possession is best protection rather than gold shares and am trying to

increase the former as much as I can. Bank of Greece stopped selling gold coins and Bank of Piraeus has now

restricted sales to 5 coins per customer per week (with 10% premium).

I am one of them. I recently changed tactics and are bying gold every week, regardless of price,

instead of restricting purchaces during the slow summer period.

No queues, however, or lack of physical. The article is exaggerating.

Very strong performance by silver despite strong dollar. Currently 37.54$.

Had to buy back many of those SLV shares sold at 39.50. I underestimated the low at 33.00, expecting a deeper correction, as in 2006. Hate to buy back the shares with the silver price 22% above 200DMA, but still left an equal amount of shares to buy back hopefully at lower price. I only wish the summer correction should start soon.

Major purchase of gold ETF's. Had to, despite the expected summer correction, which I do not expect to be significant. The reason, is that cash in banks in Greece does not seem safe, after political leaders failed to come to agreement. I only wish I did that a little bit earlier at the 1470$ level.

Back to the old ugly days.

I recommend selling silver at every high. It is heading to the 200DMA (28$).

I believe we still have not seen the highs for this spring. I note that

Eurogold remains cheap at around 1000 Euros/ounch. Bought more physical today.

I also note that in Greece, there is now restriction in the number of gold coins

sold from some banks (5 per person per week) and I am told that the Bank of Greece is no longer selling. The question then is no longer at what price you buy your physical, but whether you will still be able to obtain it in the future from reliable sources.

Silver on fire.

The recovery after yesterday's sell-off is completely unexpected.

Rebought 200 ounches that I sold yesterday for small loss.

I believe it might.

For those who have lived through the torrid experience of seeing silver crash year after year, until 2009,

even this rally is seen with a lot of skepticism. Silver is currently 51% above its 200 DMA and is bound

to return some day. This could be the 28$ level. There is a lot of inexperienced money flowing into silver at this moment, and there is bound to be a big profit taking opportunity some time this spring.

Having invested heavily in 2006, silver is currently making me a paper profit more than gold, which I

would find hard to believe a few months ago. I should add, that I expect silver to have a very high chance to move

for a brief period into the 40's and tiny chance to reach even the 50's, should gold break through its previous high (1440).

Rule

If silver shall break away to new many-year high's, then gold shall break away to new all time high as well,

and vice versa.

33.99$ silver !!

I know we are approaching one of those sell points, but thankfully I have kept the vast majority

of my position so far, in this wild rally.

Silver leads gold this winter.

New 30 year high? at 31.32$ at this moment

This Nivea product.

What a waste! We definitely need higher prices.

What I found most impressive in this latest sell off, is that GLD sold 50 tons of gold at the bottom of this correction, yet the price did not move to the downside, as much as one would expect. That is apart from the SHK gold futures liquidation equivalent to another 19 tons, on Monday. These are big numbers for the space of 1 week! Yet gold finishes

-0.14% for the week. Paper gold pressure absorbed presumably by physical demand.

If the same amount of paper gold is to be rebought , this could lead to a big rally.

The mean price I paid for GDX is 44$, so I am still ahead after this correction.

It is stated that miners provide a leverage to the gold price. However, I see them underperforming.

OK, if someone had bought on October 2008, it would be a different story. Who could have foreseen

that onslaught? The main point is, perhaps producers can not replenish their reserves and this is the reason that they underperform the gold price. So, unless someone has Dr Bubb's trading abilities, perhaps the mining sector

should be avoided.

Is GDX a good investment for buy and hold ordinary investors?

I am not so sure. Still trading at March 2008 levels.

Gold payed off immediately. Silver after a long 5 year wait. But GDX ? A waste of time.

OI analysis is too ambiguous for me, exactly because as Chris pointed out it does not

differentiate between long and short contracts.

Changing, to log scale does not modify qualitatively the results, i.e.

the increase of OI with increasing price was modified recently to

decrease of OI with increasing price.

decrease of OI= decrease of longs OR decrease of shorts

increase of price associated with decreasing longs BEARISH

increase of price associated with decreasing shorts BULLISH

Yet, SOMETHING must have caused the change of the overall OI vs price relationship.

https://marketforceanalysis.com/article/lat...cle_011511.html

A most intriguing article on the changing relationship between open interest and price for both precious metals,

indicating a growing physical shortage.

Does anyone disagree with this point of view?