Steve Netwriter Posted September 8, 2009 Report Share Posted September 8, 2009 WJ, some here trade gold as if it was Google or Enron (i.e. on "technical" grounds). Others accumulate steadily and don't worry much about the daily/monthly fluctuations (the more "fundamental" approach). I am in the latter group. This is why I started the gold threads here on GEI (coming from HPC, where I "worked" on the original "super"-thread). My stand is that this is the biggest financial crisis ever (in the history of mankind at least) and that we only just got started (2 years ago). As my main indicators when I will sell gold I use the house:gold index and the Dow:gold index (check out the charts linked to in my signature). The reason is that these are real things measured against other real things, and the things I might want to buy from my gold (and silver) in the end might be stocks and property. We are far from lows in houses:gold or stocks:gold. So, I continue to accumulate precious metals in their physical(!) form. EDIT: See also my thread over at GIM for some more technical considerations: http://goldismoney.info/forums/showthread.php?t=195370 DrBubb: I somehow thought you only had 1 oz of (physical!?) gold? +10 Link to comment Share on other sites More sharing options...
grumpy-old-man Posted September 8, 2009 Report Share Posted September 8, 2009 http://www.safehaven.com/article-14325.htm hope you don't mind. hpc clicky linky Link to comment Share on other sites More sharing options...
jamesspeed Posted September 8, 2009 Report Share Posted September 8, 2009 http://bloomberg.com/apps/news?pid=2060108...id=aSp9VoPeHquI Un Says New Currency Is Needed To Fix Broken 'Confidence Game’ Link to comment Share on other sites More sharing options...
d2thdr Posted September 8, 2009 Report Share Posted September 8, 2009 imo silver is for speculating and gold for saving. really? why do you say that? Link to comment Share on other sites More sharing options...
wren Posted September 8, 2009 Report Share Posted September 8, 2009 James Turk talks gold and sterling in the Daily Mail. http://www.dailymail.co.uk/money/article-1...aven-money.html Link to comment Share on other sites More sharing options...
Pixel8r Posted September 8, 2009 Report Share Posted September 8, 2009 http://bloomberg.com/apps/news?pid=2060108...id=aSp9VoPeHquI Un Says New Currency Is Needed To Fix Broken 'Confidence Game’ This was posted yesterday here; http://www.greenenergyinvestors.com/index....st&p=125380 Link to comment Share on other sites More sharing options...
romans holiday Posted September 8, 2009 Report Share Posted September 8, 2009 really? why do you say that? Due to the volatility. If you manage to trade the volatility right... sell near a peak and buy on the dips it can be quite lucrative. I am not sure how long this window of opportunity will last. I imagine at some point silver will stabilize at a higher level, similiar to what gold has done. Gold is a lot more stable now [with a floor around 900 compliments of QE] which is why I think it is for saving, that is, for taking profits in. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 8, 2009 Report Share Posted September 8, 2009 I am really not enjoying this little party in gold as much as I should. I mean, I am 80% in gold, and I am cross I traded my silver for gold! Arrrgh! Anyway, speaking of profits, RH, I am thinking it may be time to take some in gold. Does anybody else have a feeling the other shoe is about to drop? Link to comment Share on other sites More sharing options...
romans holiday Posted September 8, 2009 Report Share Posted September 8, 2009 I am really not enjoying this little party in gold as much as I should. I mean, I am 80% in gold, and I am cross I traded my silver for gold! Arrrgh! Anyway, speaking of profits, RH, I am thinking it may be time to take some in gold. Does anybody else have a feeling the other shoe is about to drop? Not sure what you mean here. If you mean selling gold and taking profits in another currency... I do not see this as taking profits. imo if you sell something [say silver when the ratio is more favourable] and take profits in gold, by buying gold, this is taking profits. When the next shoe drops I doubt gold will dip far.... silver is the one to watch out for there. That said, investors do not look like selling anything at the moment... with all the supposed liquidity about, why sell? If you sold gold, what would you take profits in? It would have to be another currency. Why not think of gold as the better currency and stay put? Link to comment Share on other sites More sharing options...
notanewmember Posted September 8, 2009 Report Share Posted September 8, 2009 Yeah i took some profits yesterday in gold. The cash will be used to buy some largely overlooked midcap stocks in the next week or so. If the market crashes in September, then even better. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 8, 2009 Report Share Posted September 8, 2009 I see what you mean about "taking profits in gold, by buying gold". That is what I did. Thanks RH. Edited to add: Notanewmember -- I also plan to buy some gold and silver companies after the next crash. Link to comment Share on other sites More sharing options...
warpig Posted September 8, 2009 Report Share Posted September 8, 2009 Good article. It is incredibly naïve to believe that gold can be removed from the international monetary system with impunity at the stroke of a pen, as they pretended to do it in 1973. The gold corpse still stirs. When it rises from its prostrate position it will, like Gulliver, dust off the Lilliputians who like ants have been scurrying all over his body. The day of reckoning will have dawned. http://www.safehaven.com/article-14325.htm Link to comment Share on other sites More sharing options...
TrueNorth Posted September 8, 2009 Report Share Posted September 8, 2009 If you sold gold, what would you take profits in? It would have to be another currency. Why not think of gold as the better currency and stay put? You are just right RH. Thanks. Link to comment Share on other sites More sharing options...
romans holiday Posted September 8, 2009 Report Share Posted September 8, 2009 Yeah i took some profits yesterday in gold. The cash will be used to buy some largely overlooked midcap stocks in the next week or so. If the market crashes in September, then even better. If you don't mind me asking, what currency did you take profits in? Yen, and dare I say it, the dollar, will strengthen in the event of a market crash. Sterling [risk currency] is likely to tank again. I have Yen set aside in the event of a crash.... though I like to think I would buy some gold stocks, I will most probably just buy silver. Maybe 5% of my worth in something like minefinders would be OK for "diversity". I'm concerned, as a staunch deflationist, that there might be havoc in all stocks.... though gold related ones should pull through in the end. Link to comment Share on other sites More sharing options...
romans holiday Posted September 8, 2009 Report Share Posted September 8, 2009 I am really not enjoying this little party in gold as much as I should. I mean, I am 80% in gold, and I am cross I traded my silver for gold! This spike up took many by surprise. Originally I was looking for one more wave up in the "inflation trade" with the ratio going near 50 and the DOW through 10000... but after listening to the combined bear blasts of Prechter and Hoye, I swapped silver for Yen, though luckily only a third of my silver position. Moral of the story; stick to your own instincts. Even if gold/silver heads up a little here, I think gold will come back below 1000 with silver coming back even further as it does. Link to comment Share on other sites More sharing options...
nixy Posted September 8, 2009 Report Share Posted September 8, 2009 Oh thanks I must give credit to the teachers tho +1 But you (like I did) had a hunch there was 'trouble at mill' which is how / why you found 'the teachers' here.? Link to comment Share on other sites More sharing options...
bitbigt Posted September 8, 2009 Report Share Posted September 8, 2009 This could be a trap. The market will be headed towards a NY opening, with a big gap up in Gold, and gap down in the US dollar. We should look back the previous top in Gold to see what happened. If you were the US Treasury, and wanted to BURN THE DOLLAR SHORTS, what woudl you do? I fully agree. The conviction just doesn''t seem to be there in the price charts these last few days, especially if you look at multiple currencies. I still suspect this is a fake upside breakout after the recent shrinking trading range. ...even some on GEI are thinking of cashing in at these levels, rather than buying more Link to comment Share on other sites More sharing options...
Pluto Posted September 8, 2009 Report Share Posted September 8, 2009 They are getting desperate for your physical gold. Of course there is always heaps of pixel and paper gold for everyone. Look here. This outfit claims to DOUBLE any other offer you get. keep your friends and gold close by at all times. http://www.money4golduk.com/ Link to comment Share on other sites More sharing options...
warpig Posted September 8, 2009 Report Share Posted September 8, 2009 Not me, I think there's been a paradigm shift, it feels different. Was it China stating they may default on derivative contracts or admitting they're buying the dips, I don't know, but this feels more than a "fake upside breakout." I fully agree. The conviction just doesn''t seem to be there in the price charts these last few days, especially if you look at multiple currencies. I still suspect this is a fake upside breakout after the recent shrinking trading range. ...even some on GEI are thinking of cashing in at these levels, rather than buying more Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted September 8, 2009 Report Share Posted September 8, 2009 They are getting desperate for your physical gold. Of course there is always heaps of pixel and paper gold for everyone. Look here. This outfit claims to DOUBLE any other offer you get. keep your friends and gold close by at all times. http://www.money4golduk.com/ i see they splashed out on the advertising campaign Anthony Sullivan Host of Discovery Channel’s hit TV show “The Pitchmen” Link to comment Share on other sites More sharing options...
grumpy-old-man Posted September 8, 2009 Report Share Posted September 8, 2009 They are getting desperate for your physical gold. Of course there is always heaps of pixel and paper gold for everyone. you never liked that paper stuff did you. I remember thinking from day one that whenever I bought any silver/gold that it have to be physical. I don't think I could ever buy shares in the sm either. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 8, 2009 Author Report Share Posted September 8, 2009 Kitco chart has gone dead. Link to comment Share on other sites More sharing options...
HPCSucks Posted September 8, 2009 Report Share Posted September 8, 2009 Kitco chart has gone dead. Obama has just passed a law saying that gold no longer exists. Link to comment Share on other sites More sharing options...
Pluto Posted September 8, 2009 Report Share Posted September 8, 2009 you never liked that paper stuff did you. I remember thinking from day one that whenever I bought any silver/gold that it have to be physical. I don't think I could ever buy shares in the sm either. Paper Gold, electronic Gold or any other form of gold that is not yellow and weighty are all oxymora. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 8, 2009 Author Report Share Posted September 8, 2009 The COMEX banksters are now at work. Gold down $6 already. Link to comment Share on other sites More sharing options...
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