electroweak Posted December 2, 2009 Report Share Posted December 2, 2009 one for you sir fitkid Link to comment Share on other sites More sharing options...
VictorBroom Posted December 2, 2009 Report Share Posted December 2, 2009 Have you guys had problems to log on to http://www.goldprice.org/gold-price.html in the past couple of days!? Seems like too many people are monitoring the gold price lately. I checked last night and it was fine. Just tried now and it was fine. Link to comment Share on other sites More sharing options...
VictorBroom Posted December 2, 2009 Report Share Posted December 2, 2009 Gold's Surge Unlikely To Slow As China Could Emerge As Massive Gold Reserve Buyer December 1, 2009 11:10 AM EST With government's around the world devaluing their currencies, pumping their economies with liquidity created out of thin air, and with central banks around the world choosing to diversify into gold, do you really need another reason to own the precious metal? Well, comments from senior Chinese official yesterday on gold are adding fuel to the fire and puts another feather in the cap of goldbugs. On Monday, Ji Xiaonan, chairman of the supervisory board for large firms at State-Owned Assets Supervision and Administration Commission, said the Dubai crisis could give China a buying opportunity to put some forex reserves into gold or oil reserves. A Chinese paper, the China Youth Daily, quoted Ji as saying a task force was set up last year to look at the issue of gold reserves. "We suggested that China's gold reserves should reach 6,000 tons in the next 3-5 years and perhaps 10,000 tons in 8-10 years," the paper quoted Ji as saying. It was last reported that China's gold reserves had risen to 1,054 tons from 600 tons since 2003. So this could mean an increase of up to 10-fold! After taking a breather Friday on dollar strength, due to the Dubai debt concerns, gold is back to all-time highs. Spot gold last traded at $1196.10, up from yesterday's close of $1178.90. Link Link to comment Share on other sites More sharing options...
electroweak Posted December 2, 2009 Report Share Posted December 2, 2009 EDIT: long, staying so, not trading, just reporting On the minus side, Barrick says it has now eliminated its' hedges.. (no more buying there).. Barrick says it has eliminated gold hedges By Euan Rocha Reuters Tuesday, December 1, 2009 http://www.reuters.com/article/marketsNews...148789420091201 TORONTO -- Barrick Gold Corp. said today it has completed the elimination of all of its gold hedges as planned, a move that should remove what has been a big drag on its shares. Also... After quietly doubling reserves, China is wary of gold 'bubble' By Ambrose Evans-Pritchard The Telegraph, London Wednesday, December 2, 2009 http://www.telegraph.co.uk/finance/china-b...hina-wary-of-... The Chinese authorities have given the clearest indication to date that they view the surge in gold to an all-time high of $1,217 (L730) an ounce as a speculative frenzy. Hu Xiaolian, the vice-governor of the central bank, said Beijing would not buy gold indiscriminately. Link to comment Share on other sites More sharing options...
romans holiday Posted December 3, 2009 Report Share Posted December 3, 2009 Going to move 50% of my gold stash into Dollars as I'm moving there. I also think the USD will be strong for quite a while during the next phase of the economic bear market. I have around 80% of my wealth in precious metals. I've accumulated Dollars over the last few months. Sweet. I'm in a similiar position myself. Link to comment Share on other sites More sharing options...
warpig Posted December 3, 2009 Report Share Posted December 3, 2009 Bloody hell, there's no stopping it. Gold's run £114/t oz ($233/t oz) in 2 months... Link to comment Share on other sites More sharing options...
Schaublin Posted December 3, 2009 Report Share Posted December 3, 2009 Bloody hell, there's no stopping it. Gold's run £114/t oz ($233/t oz) in 2 months... Sinclair just got his 1224/Oz Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 3, 2009 Author Report Share Posted December 3, 2009 Sinclair just got his 1224/Oz What now? Link to comment Share on other sites More sharing options...
Schaublin Posted December 3, 2009 Report Share Posted December 3, 2009 What now? Yes - went through 1225 about 10 mins ago - back to 1222 now. Link to comment Share on other sites More sharing options...
Schaublin Posted December 3, 2009 Report Share Posted December 3, 2009 Goldfinger, I thought you would have had a wall of screens - giving continuous updates on everything from gold to pork-bellies! Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 3, 2009 Author Report Share Posted December 3, 2009 Goldfinger, I thought you would have had a wall of screens - giving continuous updates on everything from gold to pork-bellies! I meant: "Now what?" Link to comment Share on other sites More sharing options...
Schaublin Posted December 3, 2009 Report Share Posted December 3, 2009 I meant: "Now what?" I am beginning to think that the tail may now be beginning to wag the dog. I believe that the POG is used by many as a gauge for uncertainty but at a certain point, especially after a fast rise, I think the price will, of itself, feed the uncertainty - and start a cascade. Also, with Sinclair's first prediction having arrived, I believe it may deter 'profit taking' and perhaps embolden fresh buying from those who, having seen a concrete 1224 - despite many calling the top at 1150, will feel that Jim's 'magic numbers' are on track. Link to comment Share on other sites More sharing options...
surfdude Posted December 3, 2009 Report Share Posted December 3, 2009 ... having seen a concrete 1224 - despite many calling the top at 1150, will feel that Jim's 'magic numbers' are on track. What are the other 'Magic Numbers' Sinclair is calling for? Link to comment Share on other sites More sharing options...
azazel Posted December 3, 2009 Report Share Posted December 3, 2009 Sell and take profits or stay in "Buy and Hold" http://arabianmoney.net/2009/12/02/are-she...gold-tops-1200/ Link to comment Share on other sites More sharing options...
wren Posted December 3, 2009 Report Share Posted December 3, 2009 What are the other 'Magic Numbers' Sinclair is calling for? This picture gives more numbers than the original "angels". 1650 has been his top target for years. It's bigger and clearer at this link: http://jsmineset.com/wp-content/uploads/20.../Sinclair32.jpg Link to comment Share on other sites More sharing options...
routemaster Posted December 3, 2009 Report Share Posted December 3, 2009 What now? You did say back on the 14th March 2007 on HPC. I would not sell below USD 1200, which is in my opinion the equilibrium price today. But I expect it to go much higher, since markets are not rational. Just look at house prices - another case where it's difficult to call the max. Inflation adjusted maximum prices for gold in 1980 were around USD 2000/ GBP 900 per ounce. That might give you an idea. Gold would have to triple from where it is now. But 1980 was not Armageddon. http://www.housepricecrash.co.uk/forum/ind...43821&st=15 Link to comment Share on other sites More sharing options...
sine270 Posted December 3, 2009 Report Share Posted December 3, 2009 Capital Gains question about gold held with GM or BV. Dont know if this has been discussed before, but can CGT be avoided when selling GM or BV holdings by selling and leaving the proceeds there in the pot and only withdrawing it to the nominated bank account at maximum CGT allowance each year? Thanks. Link to comment Share on other sites More sharing options...
G0ldfinger Posted December 3, 2009 Author Report Share Posted December 3, 2009 You did say back on the 14th March 2007 on HPC. Very nice. The $1,200 was van Eedens equilibrium price back then, BTW. Meanwhile I don't give van Eeden so much credit anymore, and the models I believe in show much higher equilibrium prices. Link to comment Share on other sites More sharing options...
narco Posted December 3, 2009 Report Share Posted December 3, 2009 Is there a thread about selling gold on here? I can't find one. I'm starting to look at offloading a few coins but obviously looking to get the best bang for buck as possible. Ebay & Paypal fees are astronomical! Link to comment Share on other sites More sharing options...
id5 Posted December 3, 2009 Report Share Posted December 3, 2009 Is there a thread about selling gold on here? I can't find one. I'm starting to look at offloading a few coins but obviously looking to get the best bang for buck as possible. Ebay & Paypal fees are astronomical! I have been telling everyone on here for ages that you should always work out your exit strategy when you buy including the tax implications. FYI the best way to sell gold coin is to a bullion dealer unless it has numismatic value in which case then sell to a numismatic dealer. There are some bullion dealers that will buy at just under spot when the market is going up of course Link to comment Share on other sites More sharing options...
signofthetimes Posted December 3, 2009 Report Share Posted December 3, 2009 Is there a thread about selling gold on here? I can't find one. I'm starting to look at offloading a few coins but obviously looking to get the best bang for buck as possible. Ebay & Paypal fees are astronomical! C.I.D. have a 'buy' price for every coin / bar they sell. Also, you have to send your items to Germany, so that won't be cheap (insured) Link to comment Share on other sites More sharing options...
narco Posted December 3, 2009 Report Share Posted December 3, 2009 C.I.D. have a 'buy' price for every coin / bar they sell. Also, you have to send your items to Germany, so that won't be cheap (insured) Yeah I fell out with CID a while ago and no longer deal with them. Link to comment Share on other sites More sharing options...
narco Posted December 3, 2009 Report Share Posted December 3, 2009 There are some bullion dealers that will buy at just under spot when the market is going up of course Cheers, on the hunt now to see if I can find a reputable one nearby. Link to comment Share on other sites More sharing options...
Schaublin Posted December 3, 2009 Report Share Posted December 3, 2009 Yeah I fell out with CID a while ago and no longer deal with them. What was the problem with CID? Don't expect 'blow by blow' just the general gripe - if you don't mind. Regarding selling, why not mention here on GEI what you wish to sell - and anyone interested can PM you. Link to comment Share on other sites More sharing options...
FWIW Posted December 3, 2009 Report Share Posted December 3, 2009 I am looking at the daily candle on the gold price, it looks like it could be a hammer which could indicate a pull back. Be careful and manage your risk levels. Link to comment Share on other sites More sharing options...
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