Tune2001

Gold miners seem doomed to make the same mistake as they did in the lows of the early noughties!

http://www.mineweb.com/news/gold/gold-miners-turn-to-derivatives-to-protect-income/

I've bought 4 1/2 oz Snakes for the ushers at my upcoming wedding (and a 2oz for myself just because).

Oh, so if this is true, then that's the end of the gold bull fo sho!

Aw, man! I was hoping we could do the whole month!

Sell when the rocket pics come out, buy when the Gold thread is silent. ;-)

In sterling the 50DMA is about £1000 and the 200DMA is £916 or so. We're long overdue a touch of the 200 but if we're in the parabolic phase I don't see that we have to. If we did I think I'd become a big buyer of bullion again.

My thoughts exactly.

Got my old man the following for fathers day

 

WANT! Where does such a T-shirt come from?

Not convinced about buying gold now being a 'no-brainer' in GBP:

http://stockcharts.com/h-sc/ui?s=$GOL...id=p98524378536

Looks set to drift down towards the 200dma while the 200dma rises whereupon they shall meet and THAT will be the time to buy again!

HOOK PREDICTED THE CRASH (in CDNX), now he thinks it is almost over

 

As part of our numerous warnings concerning precious metals juniors in summer, you may remember the structural delineation of a measured move (MM) in the SPX/TSX Venture Composite Index (CDNX) suggestive of a crash all the way down to the 1300 proximity was underway due to tightening liquidity / credit conditions. And without fail, as these things have a tendency to do, the MM is now almost complete, suggestive of an alleviation in credit markets soon, which is exactly what a passage of the proposed bailout is suppose to accomplish. This is of course why stocks around the world have been attempting to be buoyant, accounting for strength witnessed in Western markets after the Gray Monday plunge as the junkies continue to speculate on another ‘credit fix’.

 

/see: http://www.financialsense.com/fsu/editoria.../2008/1013.html

He also says this

"...In deflation, precious metals and precious metals shares can have quite different outcomes, where if for example the broad market is destined to fall 90-percent plus in a Grand Super Cycle Degree event, many, if not most of the existing companies could be wiped out."

Which doesn't sound at all good for gold miners of any size.

All this mainstream talk about gold can only mean one thing...A large slump in the POG is imminent!

Whenever the media picks up on this story gold falls soon after.

Might be best to wait until Joe Public has been shaken out before stocking up again.

Usual attempt to smash it down. If so Heaven sent opportunity for the laggards who now want in.

Laggards...Or people who get paid in fiat?

http://www.fxstreet.com/news/forex-news/ar...9a-6a18b7f7809a

 

UBS cited evidence that the jewelry market is weak, continued central bank selling of gold - implying that the banks think it is expensive - and the lack of any direction from hedging and dehedging activity.

Errr, not selling to try and supress the price of gold then?

Gold - Some Bullish Thoughts - with podcast

http://www.resourceinvestor.com/pebble.asp?relid=43261

 

Loads of charts !

 

(Thanks to Mr Holiday )

So a touch of $800 is expected?

It may be all talk from the 'plunge protection team'. But it's working! Now down to $870.

I bought at $877 today.

No worries tho, Steve's chart will win the day!

The best advice I ever heard abouot buying art is "Buy something you like!".

That way, if the price goes down, you don't care, you have a great piece of art you love.

998.2 - my back teeth are getting wet!

The £ is holding up against the $ though. I'll be getting the party poppers out when it's £500/oz

Just a further weakening of the US$?

Yes. Exactly right.

Fantastic interview from Jim Rogers. Get this man on the BBC news!

Some interesting points that he did and didn't mention..

1) One for Bubb here: Jim talks about holding the commodity itself rather than shares. He quoted a figure of 300% better than holding the shares. I always thought that shares give you leverage on the commodity itself, and thus the greater return. This is why the good doctor holds gold shares more than physical gold?

2) He didn't mention gold once!

3) He espoused buying softs - even as wheat is running wild. Our very own Frizzers has suggested selling this commodity!

He makes some great points about Bernanke's running of the economy but I won't be running around Tesco's filling my cupboards with Nescafe and Tate & Lyle' finest just yet....

Nice.

I had forgotten that "buy gold" which I checked a while back, was a good one, but the other two are spot on.

 

But talking of krugerrands and Joe Public, dare I post again the krugerrand video?

Such an excellent bad taste piece IMO. I love the nerd, well, not love, you know what I mean.

Brilliant!

The big man and Frizzers are away at a junior mining conference.

Come on guys, the action is in silver right now. Reaching 26 year highs...slipping below $20...Where next? A correction to 17.50? ..Or a short-squeeze to the moon?

Hello everyone from HPC.

Things are getting very interesting in silver and gold right now.

I've held gold since Nov 05 and built up my physical and shares holdings since then.

Feb 22nd I put half of a sum of money I received into silver. Waiting to time the other half....

Any half-decent pullback and I'm on it!

Anyone think we're in for some sort of horrible correction today/this week?

Akk! - don't say that! After building a nice position in gold and gold shares over the last couple of years I started on my silver 'collection' last week thanks to a bit of a windfall from work.

If you read the chart thread in the main forum you'll see we may well be on the precipice of large moves in commodities. Let's hope this is the start of a considerable leg-up in silver. Something in the order of magnitude I've seen since starting to buy gold in Nov 05 would be very welcome indeed!

I want to buy 100 silver 1oz coins. I've been quoted £9.63 for them when on kitcosilver.com it would only be £7.85! Pesky VAT!

How do get on the SLV ETF? I went to iShares.co.uk and couldn't find it!