wrongmove

The Silver Maple price is not bad, but it’s no good for small buyers like me. Kitco charge a minimum of $165 for postage.

Maple price not bad! People here have been paying way, way more than that and calling it a bargain!

The 1000oz silver bar is very close to spot too. That postage cost is very high, say £120, but you are saving about £60 a coin overall! Even a fairly modest order would make Kitco cheaper, which just goes to show how ridiculous CID prices are.

But the Kitco (and Tulving) prices show that supplies are getting back to normal. CID will have to cut their spreads and premiums soon, surely.

Kitco's premiums are almost normal. Someone better tell them about this "disconnect"!

They must be paying the 'official' physical price (calculated by checking eBay), and then just knocking of 15%! You don't get many businesses like that these days

http://www.coininvestdirect.com

 

Ounce bar

Buy £528.01 Sell £574.14

 

Krugerrand

Buy £537.47 Sell £598.54

 

Maple leaf

Buy £527.61 Sell £601.11

 

Philharmoniker

Buy £522.67 Sell £575.42

 

NUgget

Buy £532.54 Sell £603.68

 

Sovereign

Buy £120.70 Sell £137.86

 

Britannia

they don't even tell you lest you have a heart attack

 

Luna

Buy £589.24 Sell £693.59

They are truly awful prices - bad as ebay! Try Kitco.

Gold Eagle 1 oz (Only shipping to US)

$809.98

Gold Maple 1 oz

$802.55

*Gold Bar 400 oz (Please place order by phone)

$299,440.00

Gold Bar 10 oz (Only shipping to US)

$7,551.00

Gold Bar 1 oz

$758.10

Kitco Gold Bar 1 oz

$758.10

Gold Bar 1000 g

$24,116.27

Gold Philharmonic 1 oz (Only shipping to US)

$780.26

Silver Maple 1 oz ( Olympic Edition)

$13.03

Silver Bar 1000 oz

$9,830.00

You don't have to get ripped off! Kitco 1oz gold bar, spot + $16!!, 1oz siver coins, spot + $3

It should also mention that management were strongly advised to pursue this avenue by CC and, on discovering the success and popularity, are now taking on new staff to handle sales.

Nice one!

That's like a licence to print money at the moment!

"While some funds have halted redemptions, the expectation is that when the bans are lifted, the selling will resume," he wrote in a note.

I took it to mean the ban on redemptions from hedge funds. If not then there is no point in the author mentioning the halting of redemptions in that sentence.

Seems reasonable, but it still doesn't make much sense to me. Maybe it is just badly written.

The link doesn't match the pasted text, have you posted the wrong link?

 

I think the article is saying that hedge funds are keeping money safe as gold until they can use it to short financials again (sell the gold and use the money).

 

I don’t believe that myself. There’s plenty of other companies to short.

I agree - I don't get the connection. Sorry about the link - they have changed the article since I posted. The link still has the old title on Kitco, but it now links that new article.

My, what a sucker you are.

Oh dear

Just thought I'd bring in some humour...

 

Agree that all points of view be allowed on this forum, but you can't really expect a gold investment thread to say buy USD with your GBP?

 

Hence the reason I think you have a very apt name!

 

I was trying to explain why I considered the dollar price to be important, even if dollars are not your local currency. I didn't actually say buy dollars as such, just that if hedging a strong dollar was your aim, buying dollars would be a more logical (and successful) strategy. I think it's quite funny that gold is being used (in retrospect) to protect against a strong dollar!

There's a ban on short selling some (most?) financials and banks. It does not apply to gold, other stock and indices

Cheers ziknik, that's what I thought. I do not understand what they mean in the article. Why should the end of the short ban affect gold?

Just thought I'd bring in some humour...

So did I!

Does anyone know what ban is being referred to here?

Gold dips as traders take more money off the table

SAN FRANCISCO (MarketWatch) -- Gold futures were ready to extend their losing streak to three sessions Thursday, pressured by the overall declines in the U.S. stock market as well as by concerns that heavy selling by hedge funds is set to resume once global bans on short-selling expires.

"We will not see a huge increase in the price of gold until the financial markets stabilize a bit," said David Beahm, a vice president at precious metals retailer Blanchard & Co. "Until then, investors will continue to hide dollars in their backyards."

 

Gold for December delivery was down $5 at $713.30 an ounce in electronic trading on Globex. It climbed as much as $7 earlier in the session to trade as high as $725.90.

On the Comex division of the New York Mercantile Exchange, the contract has lost more than $28 over the past two sessions and was poised to extend its losing streak.

Traders "learned that hedge funds lost a further $100 billion in assets last month," said Jon Nadler, a senior analyst at Kitco Bullion Dealers.

"While some funds have halted redemptions, the expectation is that when the bans are lifted, the selling will resume," he wrote in a note.

Does the ban on short selling include gold? Or are they predicting that funds will sell gold to short financials?

Wrongmove - good name!

 

Just when you think the level of debate has reached an all time low, something comes along and drags it that little bit lower!

Yes, I've always found it odd that on this forum, where most buy in GBP, that there in so much focus on the price in USD, which is clearly irrelevant.

It is not irrelevant though. To its fans, gold is a currency. To most people, the dollar is the main currency. So if you are looking for the best currency, gold is in direct competion with the dollar, and losing rather badly. You don't have to buy gold with your pounds, you can buy dollars.

Also, the western investment market is basically driven by dollars. Sure, an asset can be rising in one currency, while falling in another, but that is not gold strength, but pound weakness. Buying anything denominated in dollars has this effect, the most obvious example being just buying dollars themselves.

So I belive the dollar price is very important in gauging sentiment in the gold market, although, of course, any individuals bottom line will depend on their local currency.

As I have just asked cg on another thread - like cg you are very insulting to TA users when their predictions are bearish.

I take it that bullish TA is acceptable?

Not an option sadly.

 

........

9) Please Do Not Ask For Us To Ship Out Of The U.S., As We Will Not Under Any Circumstance Or Situation. We Will ONLY Ship To A U.S. Depository Of Your Choice.

Surely getting a US depository to ship to your destination of choice shouldn't be beyond the wit of man?

My man has 60 SIXTY!!! brand new Johsnon Matthey .9999 kilo bars for sale at spot + $14.95 per ounce.

 

http://www.tulving.com/goldbull.html

 

How much is Fed-Ex from CA USA to Zurich?

Shhhhhhhhhh! There's a shortage, don't you know. Play the game!

Wait a minute. I think you are shortchanging us. What about the second outlook? I mean, the one we can pick if we so believe?

You are a fine one to talk! Ker isn't the one giving 100% guarentees!

I think they're oil production cost is north of $80 if I heard that right. Then this would makes sense. However, $80 seems high.

Oil has only ever sold for $80+ for less than a year from last autumn, so I agree, it does seem high. It is hard to imagine anyone developing a well that costs that much, bearing in mind that $80 oil is such a recent development.

Just saw this advertised on TV: Got gold? Get cash!

They are offering around 50% of spot! (To buy, of course)

Collect together all of your old, unwanted, damaged and broken gold...

unwanted, broken gold???

The ESF appear to have blown half their wad in the last month or two getting the EUR/USD from 1.60 to 1.27

It's hard to believe that selling a 'mere' 12B euro would have achieved that going to do that. 'Billions' are so 2007!

Certainly does look correlated though, but I would have thought 12B would be "lost in the noise" of recent 'traffic'.

Cheers CG

 

Note this is from:

 

Department of the Treasury

1500 Pennsylvania Avenue, NW

Washington, D.C. 20220

 

Secretary Henry M. Paulson, Jr.

Deputy Secretary Robert M. Kimmitt

 

 

So, does ANYONE want to suggest this is not true ?

This is no secret. Governments often intervene to support their currencies. Details of SDR here: IMF

SDR is run by the IMF. The IMF hold gold, but do not use it for "trading". (Gold in the IMF). Otherwise, the SDR just holds major currencies.

It looked as if it was going to explode. Then something weird happend, and the physical retail market totally disconnected from the CRIMEX. Similar with gold.

 

If I was a bullion bank and millions/billions short gold, what would I do?

 

I would create a massive paper sell-off, and then I would send some of the crooks who work for me into forums and let them pretend to have superior TA knowledge so that all the insecure suckers would follow them...

 

It's all about expectation management. The crooks want to destroy proper expectations. Like, another bank goes bust, and gold sells off etc. People always need others to follow. It's so easy.

 

The fundamentals will rule. Maybe sooner, maybe later. The important thing is to be patient.

 

EDIT: Should this post be in the conspiracy thread? I don't want people to think I'm a nutter.

You are getting just an itsy bit paranoid, GF. Nothing weird happened. Many commentators called it correctly. I think your "all in plus the overdraft" approach may be slightly distorting your perceptions of reality. "I called it wrong", (for now at least), may be a much simpler explanation that fits all the facts?

As for panicing "insecure suckers", the gold bug rhetoric of "buy now, all in now, or it will be too late, and you will be ruined, muhahahaha" is pretty blatant in that respect.

Regarding the POG, do you really want to bet against CGNAO?

With all respect to cg, market timing doesn't seem to be his strong point. I am still "watching silver", which was supposed to 'explode' from the $18ish it was when that thread was started. It has virtually halved since then, in dollar terms.

It looks like it's ready to explode upwards

Until it comes back down again next week surely.... how many times are we going to call lift-off before we actually get lift-off? I'm not expecting any serious jumps until end of November at the earliest.

well, it's nice to see cg enjoying an "up" day.

You are too kind! Seriously. I am very much an amateur, and I am not putting large sums where my mouth is, because I do not have large sums right now. But the subject interests me at the moment, gold vs. cash seems to be the only game in town for now, but it would be nice to start trying to spot some early bargains in equities. Cambrian mining at 35p, for example!!!

 

..........

It's 52.5p now! It would be nice to return to more general discussion here. People who want gold have got it.

WM has a thorough understanding of the gold market, just look how badly gold has performed.

You are too kind! Seriously. I am very much an amateur, and I am not putting large sums where my mouth is, because I do not have large sums right now. But the subject interests me at the moment, gold vs. cash seems to be the only game in town for now, but it would be nice to start trying to spot some early bargains in equities. Cambrian mining at 35p, for example!!!

I think that gold is always capable of a big leg up, but it is getting hard to see what will cause it, considering what we have already been through. Some sort of treasury default looks to be the only thing that will do it at the moment, and while this is possible, it seems a way off at the moment. In the meantime, I suspect gold will disappoint, doing better than commodities (but that won't be saying much), but generally drifting lower on reduced jewelry demand, unless investers can start buying physical, rather than just placing bets on how much Indians are going to pay for physical, which as far as I can see is largely the situation now. Speculation, not investment.

So for now I am sticking to 10% insurance and no investment, but I accept that if some people have totally lost their faith in cash, they have to go with their research/instincts, and I agree that gold is where to be. Almost certainly better than insurance shares But dry paper plus PM insurance policy for me, for now. And pay down debt, just in case we don't go hyper! If I see oil start to rise in any sustained way, or lending kick off again, then I will change my tune. And if I see evidence of western gold investment, rather than just speculation (and a few tons of coins), I will change my position.