Peasant Posted June 11, 2009 Report Share Posted June 11, 2009 Sounds fanciful more like... Has anyone seen Jim Sinclair's message on his site? Time For Delivery Sounds ominous. Link to comment Share on other sites More sharing options...
marceau Posted June 11, 2009 Report Share Posted June 11, 2009 Sounds fanciful more like... Sinclair is like a deranged pit canary. I agree with a buy and hold strategy, but I've lost count of the number of THIS IS IT cry wolf comments he's made in the last few years. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 11, 2009 Author Report Share Posted June 11, 2009 Sinclair is like a deranged pit canary. I agree with a buy and hold strategy, but I've lost count of the number of THIS IS IT cry wolf comments he's made in the last few years. If THIS ISN'T it, then what IS IT?? Only because IT is so BIG and protracted that you can't see it, doesn't mean it isn't it. Link to comment Share on other sites More sharing options...
marceau Posted June 11, 2009 Report Share Posted June 11, 2009 If THIS ISN'T it, then what IS IT?? Only because IT is so BIG and protracted that you can't see it, doesn't mean it isn't it. I can see 'it'. But Sinclair's 'right here, right now' comments do nothing but lure people into leverage and rash decisions. Those who could see 'it' have already taken their positions. Panic-making posts from Mineset add nothing to the rational case for owning gold. Link to comment Share on other sites More sharing options...
Compounded Posted June 11, 2009 Report Share Posted June 11, 2009 Leverage is often silly and indeed rash. Holding gold is historically about as conservative and unrash as it's possible to be and even if its a loser - its just about the only thing thats guaranteed to hold some value. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted June 12, 2009 Report Share Posted June 12, 2009 I can see 'it'. But Sinclair's 'right here, right now' comments do nothing but lure people into leverage and rash decisions. Those who could see 'it' have already taken their positions. Panic-making posts from Mineset add nothing to the rational case for owning gold. Except he's repeatedly said anyone who buys gold with debt is stupid He's actually said "pay off debt, and buy gold with any currency you have left". Link to comment Share on other sites More sharing options...
warpig Posted June 12, 2009 Report Share Posted June 12, 2009 He's playing it safe, which makes sense. He advised to hold cash when the banks were on the brink of collapse, whilst it didn't happen it was still the right move. Sounds fanciful more like... Link to comment Share on other sites More sharing options...
bitbigt Posted June 12, 2009 Report Share Posted June 12, 2009 Big moves over the last couple of months gold down to £575 from £700 And £ up 30cents against the dollar - a 20% move! I suspect that this cannot be sustained and a reversal is surely on the cards given that the UK is in even worse shape than the US. Got a large amount of cash (in pounds sterling) coming my way and thinking now is the time start moving that in to gold and perhaps some gold mining stocks. I know even the gold bulls in here have not been buying gold of late. Do any of you now think this could be the time to accumulate again especially if you are holding pounds? I have the Sterling cash, but not buying back in ....yet Link to comment Share on other sites More sharing options...
romans holiday Posted June 12, 2009 Report Share Posted June 12, 2009 Big moves over the last couple of months gold down to £575 from £700 And £ up 30cents against the dollar - a 20% move! I suspect that this cannot be sustained and a reversal is surely on the cards given that the UK is in even worse shape than the US. Got a large amount of cash (in pounds sterling) coming my way and thinking now is the time start moving that in to gold and perhaps some gold mining stocks. I know even the gold bulls in here have not been buying gold of late. Do any of you now think this could be the time to accumulate again especially if you are holding pounds? The risk is another round of deleveraging. If/when this happens, the pound is likely to go back to where it was, most probably worse, making gold more expensive... this would also apply to other currencies such as the aussie and kiwi. It really depends what your macro view is and what currencies you are in. Personally, I will be buying cheap US dollars for the next two months which should spike nicely on the safety trade if this recovery collapses. Link to comment Share on other sites More sharing options...
Mr Pipples Posted June 12, 2009 Report Share Posted June 12, 2009 Cenbanks could justify sharp rise in gold holdings-WGC - http://www.forbes.com/feeds/afx/2009/06/11/afx6534033.html For some sketchy reason, as I read this I thought 'take down coming'... Link to comment Share on other sites More sharing options...
Errol Posted June 12, 2009 Report Share Posted June 12, 2009 But Sinclair's 'right here, right now' comments do nothing but lure people into leverage and rash decisions. No they don't. Sinclair has SPECIFICALLY stated on numerous occasions that people should NOT be using leverage to buy gold. If they go ahead and do so that's their own problem. Link to comment Share on other sites More sharing options...
sash777 Posted June 12, 2009 Report Share Posted June 12, 2009 Sinclair also now stating that electronic Gold may not be safe - even from the most prestigious of providers. Anyone here planning on taking delivery from GM? Link to comment Share on other sites More sharing options...
nicejim Posted June 12, 2009 Report Share Posted June 12, 2009 There’s an offer at CID again. Don’t think it will be at spot price this time 2009 Britannias at a special price, but more expensive than 2008 Brits! And apparently there's 0.1g less gold in them. Link to comment Share on other sites More sharing options...
bakachu Posted June 12, 2009 Report Share Posted June 12, 2009 Sinclair also now stating that electronic Gold may not be safe - even from the most prestigious of providers. Anyone here planning on taking delivery from GM? I don't have a huge amount, but its all with GM. If it comes to the stage where those holdings are not 'safe', so be it; there will probably have bigger problems that require my attention by then. I'm not interested in keeping physical as the risk and the worry factor in getting mugged/robbed means that I'm quite happy to take my chances with GM. So no plans here Link to comment Share on other sites More sharing options...
electroweak Posted June 12, 2009 Report Share Posted June 12, 2009 I'm not interested in keeping physical as the risk and the worry factor in getting mugged/robbed means that I'm quite happy to take my chances with GM. So no plans here Maybe worth taking a percentage out, as if physical becomes 'king', the incerease in value of the stuff in your hands would compensate you for the loss of the electronic stuff. It's quite easy to secret away gold, btw. Clairvoyant druids, and all. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted June 12, 2009 Report Share Posted June 12, 2009 I don't have a huge amount, but its all with GM. If it comes to the stage where those holdings are not 'safe', so be it; there will probably have bigger problems that require my attention by then. If GM or BV were discovered to be untrustworthy, would this not in turn push up the demand (and spot price) for physical gold. Would keeping a balance between physical and allocated holdings protect against this? Link to comment Share on other sites More sharing options...
tinecu Posted June 12, 2009 Report Share Posted June 12, 2009 Friday smack down to 937$... does this male a handle for the 'cup and handle' or is it the start of an exodus from the yellow stuff as the world markets are on steroids for now. Link to comment Share on other sites More sharing options...
FWIW Posted June 12, 2009 Report Share Posted June 12, 2009 RH got me intrigued to look into this further. In the chart below, I think it will be obvious to many traders that gold is making a potential cup and handle candlechart. I have also boxed out the two candlechart patterns that made a double bottom. Many people would have seen this and will be selling out now. If the handle part goes down to $936, then I think everyone and his dog will be back in. I will be dipping my toe back in, but with caution as still could go down to $911. What do you guys think? I am not trading any of this btw - i am only buying and holding my gold. Got to 936.50 so i was 50 cents out! Later on today (less likely) or with a gap up on Monday (more likely), we should get our 'you know what' pictures ready! Of course DYOR...could still go to 840...or 911... Link to comment Share on other sites More sharing options...
romans holiday Posted June 12, 2009 Report Share Posted June 12, 2009 If GM or BV were discovered to be untrustworthy, would this not in turn push up the demand (and spot price) for physical gold. Would keeping a balance between physical and allocated holdings protect against this? I have half my bullion in a vault for the long term. The other half is with goldmoney so I can "trade" a little between silver, gold and US dollars if I wish. I am focused mostly on the gold/silver ratio these days. If in the near future we get another deflation scare, then another inflation scare ad nauseum this ratio could be very volatile and profitable. Link to comment Share on other sites More sharing options...
chazza Posted June 12, 2009 Report Share Posted June 12, 2009 If this happens I will eat my hat. Still not at all convinced that charts work at times like this. Fundamentals fundamentals fundamentals. Red or brown sauce? Link to comment Share on other sites More sharing options...
FWIW Posted June 12, 2009 Report Share Posted June 12, 2009 943 level is key - if she breaks through this, the $ is toast! I am keeping my left eye on the £ and my right eye on Gold! Link to comment Share on other sites More sharing options...
sash777 Posted June 12, 2009 Report Share Posted June 12, 2009 Red or brown sauce? I'm ready, and I hope it happens - but if it does i don't see it fitting into either the Head & Shoulders or the Cup & Handle. It will happen because of the timing of fundamentals which are completely independent of chart patterns. Link to comment Share on other sites More sharing options...
FWIW Posted June 12, 2009 Report Share Posted June 12, 2009 I'd like to publicly thank CGNAO, GoldFinger, Bubb and all the other great posters on GEI that have given me the history, courage and conviction to 'understand' gold. Well at best as my little brain can cope with! I wasn't even alive when we went off a gold standard on 15th August 1971, but in case you remember it or need to be reminded of it here is some mood music of that era. From: 8. I'm Still Waiting Diana Ross - Chart Topper: August 21 - September 18 "I'm Still Waiting" first appeared on Ross' 1971 album "Everything Is Everything". It was a mild success in the US, reaching No. 63 on the Billboard Hot 100 singles chart. However, in the UK singles chart, it reached No.1 for four weeks in August 1971, prompting a re-title in the UK of the album "Surrender" to the title "I'm Still Waiting". Although initially intended only as an album track, BBC Radio 1 disc jockey Tony Blackburn featured it heavily on his morning program and persuaded EMI, who then issued all Tamla Motown material in the UK, to release it as a single. I can't help but read 'more' into the UK album title change! Link to comment Share on other sites More sharing options...
Compounded Posted June 12, 2009 Report Share Posted June 12, 2009 I'd like to publicly thank CGNAO, GoldFinger, Bubb and all the other great posters on GEI that have given me the history, courage and conviction to 'understand' gold. Well at best as my little brain can cope with! I wasn't even alive when we went off a gold standard on 15th August 1971. [ +1 except I was alive then though do not remember Nixon leaving the gold standard- I do remember people were much more worried about the financial mess the uk was in the 70's than they are now and people were genuinely worried. There was a Labour government in the 70's that had spent too much that is almost a repeat but the worry that existed then of some sort of economic collapse looming is not present now . Link to comment Share on other sites More sharing options...
azazel Posted June 12, 2009 Report Share Posted June 12, 2009 China planning to buy $80 billion gold according to Rep Mark Kirk of Illonois http://www.youtube.com/watch?v=PUl9DedlQJw Link to comment Share on other sites More sharing options...
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