electroweak Posted October 16, 2010 Report Share Posted October 16, 2010 On the Mr. T front, I just picked up some below spot gold (man-jewellery, 60g, 9ct £590) at a pawn shop and also found a high-street retailer having a 50% off sale on gold chains which were ~few% above spot, where I grabbed a bit too.. No, I won't be wearing it EDIT: except maybe in private to see how ridiculous it looks! Link to comment Share on other sites More sharing options...
frizzers Posted October 16, 2010 Report Share Posted October 16, 2010 Without having watched the interview, I can say that the fact that they have got Mr T is not a sign of the top but of the fact that they really don't get gold and have read FA about it. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 16, 2010 Author Report Share Posted October 16, 2010 Without having watched the interview, I can say that the fact that they have got Mr T is not a sign of the top but of the fact that they really don't get gold and have read FA about it. He's actually the face of some US cash-for-gold business IIRC, that's why he's on air. But he seems to hesitate a little when they talk to him about gold as an investment. I think like deep inside he knows it's a mistake to sell gold now. Link to comment Share on other sites More sharing options...
DoctorSolar Posted October 16, 2010 Report Share Posted October 16, 2010 Good interview with Felix Zulauf this week: http://kingworldnews.com/kingworldnews/Bro...3A16%3A2010.mp3 when you are in a secular bull market as strong as the gold market is timing corrections is virtually a fruitless undertaking. I reckon a regular constant purchasing on a monthly basis makes a lot of sense for most average investors I reckon a lot of folks on here fit the average investor category. Folks looking for a "liferaft" that can help protect them. Yes you can accumulate more ounces via trading intermediate peaks and pull backs etc but you can also lose your shirt that way. I note that one of our more flamboyant gold/silver swinger traders has gone awol after countless attempts at shorting tops and turns. Link to comment Share on other sites More sharing options...
Crashman begins Posted October 16, 2010 Report Share Posted October 16, 2010 HEADS UP - CID will be doing a Gold special offer on saturday morning Any gueses what it will be ??? Maybe a 2010 nugget or 2010 krug or will it be a 2009 1/4 mexican liberted Is the special finished ? cant see anything now. Link to comment Share on other sites More sharing options...
marmite Posted October 16, 2010 Report Share Posted October 16, 2010 Is the special finished ? cant see anything now. Did anyone catch what the special was ?? I logged in at 10am London time and it was gone !!!!!!!!!!! Link to comment Share on other sites More sharing options...
electroweak Posted October 16, 2010 Report Share Posted October 16, 2010 Did anyone catch what the special was ?? I logged in at 10am London time and it was gone !!!!!!!!!!! 1/20th ounce pandas at ~8% over spot, I think. Link to comment Share on other sites More sharing options...
Fortune Posted October 16, 2010 Report Share Posted October 16, 2010 I reckon a lot of folks on here fit the average investor category. Folks looking for a "liferaft" that can help protect them. Yes you can accumulate more ounces via trading intermediate peaks and pull backs etc but you can also lose your shirt that way. I note that one of our more flamboyant gold/silver swinger traders has gone awol after countless attempts at shorting tops and turns. Ker? Link to comment Share on other sites More sharing options...
Pixel8r Posted October 17, 2010 Report Share Posted October 17, 2010 Point & Figure chart for gold shows a double top breakout with a bullish target of $1770 Link to comment Share on other sites More sharing options...
d2thdr Posted October 17, 2010 Report Share Posted October 17, 2010 Today we celebrated a festival of Dassera. We gave each other gifts. The gift is gold. And only gold. Its a nice feeling to give and receive gold. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 17, 2010 Author Report Share Posted October 17, 2010 Today we celebrated a festival of Dassera. We gave each other gifts. The gift is gold. And only gold. Its a nice feeling to give and receive gold. My best wishes for the festivities! Wikipedia: "Mysore Palace in all its majesticity and glory during Dasara" Link to comment Share on other sites More sharing options...
carbon junkie Posted October 18, 2010 Report Share Posted October 18, 2010 Point & Figure chart for gold shows a double top breakout with a bullish target of $1770 Never really got those charts but reassuring to know as thats about my take. Anywhere near 1700 and I am out of all my trading positions not core holdings though. Cheers for that, its put a smile on my face. Link to comment Share on other sites More sharing options...
richyc Posted October 18, 2010 Report Share Posted October 18, 2010 $1770? When is that booked in for? Are we all assuming that the parabolic move in gold will be largely as a result of dollar devaluation rather than anything else? With a move to $1650 and GBP/USD at $1.85 that is a sterling price of £891, so nothing spectacular in sterling terms. Is it still a buy (physical) though with sterling cash? or better to use a USD account and load up at bullion vault? or just short the USD? Link to comment Share on other sites More sharing options...
carbon junkie Posted October 18, 2010 Report Share Posted October 18, 2010 $1770? When is that booked in for? Are we all assuming that the parabolic move in gold will be largely as a result of dollar devaluation rather than anything else? With a move to $1650 and GBP/USD at $1.85 that is a sterling price of £891, so nothing spectacular in sterling terms. Is it still a buy (physical) though with sterling cash? or better to use a USD account and load up at bullion vault? or just short the USD? Been spread betting US miners in the UK for well over a year dollar devaluation priced in pounds its been great. Reckon I've got a few months left and then it'll be time to change strategy at the end of this move. Thinking a big chunk of VXX something like that to generate USD as the pound collapses and gold retraces. Then rinse and repeat is the plan. I too am expecting $1.80 ish before parity. Link to comment Share on other sites More sharing options...
warpig Posted October 18, 2010 Report Share Posted October 18, 2010 No, the parabolic move will be a result of hysteria, but this will be amplified by currency movement (hyper-inflation excluded) Shouldn't that be £1,038.61/t.oz? Why 1.85:1 rather than 1.59:1? There is never an advantage to exchanging your cash and buying in another currency, but there may be a benefit to selling in another currency. It's too late to trade this IMO, you would need too much luck on your side, just short the dola if that's what you want to do. $1770? When is that booked in for? Are we all assuming that the parabolic move in gold will be largely as a result of dollar devaluation rather than anything else? With a move to $1650 and GBP/USD at $1.85 that is a sterling price of £891, so nothing spectacular in sterling terms. Is it still a buy (physical) though with sterling cash? or better to use a USD account and load up at bullion vault? or just short the USD? Link to comment Share on other sites More sharing options...
richyc Posted October 19, 2010 Report Share Posted October 19, 2010 No, the parabolic move will be a result of hysteria, but this will be amplified by currency movement (hyper-inflation excluded) Shouldn't that be £1,038.61/t.oz? Why 1.85:1 rather than 1.59:1? There is never an advantage to exchanging your cash and buying in another currency, but there may be a benefit to selling in another currency. It's too late to trade this IMO, you would need too much luck on your side, just short the dola if that's what you want to do. I should not have used the word "parabolic" we are some way off that yet I believe, what I should have said was the coming surge. I am working on gold being $1650 early next year and the GBP/USD being at around $1.85. $1650/1.85 = £891 ozt Never an advantage? I agree and have long since tended to view gold as an alternative currency that floats against others. It is frustrating though watching dollar moves and never benefiting so I live in hope that there is an angle that I have missed. Link to comment Share on other sites More sharing options...
warpig Posted October 19, 2010 Report Share Posted October 19, 2010 Well never say never I guess, but you're on the back foot already, you'd have to be sure of yourself. Never an advantage? Link to comment Share on other sites More sharing options...
warpig Posted October 19, 2010 Report Share Posted October 19, 2010 Link to comment Share on other sites More sharing options...
romans holiday Posted October 19, 2010 Report Share Posted October 19, 2010 I am working on gold being $1650 early next year and the GBP/USD being at around $1.85. $1650/1.85 = £891 ozt Or, equally possible scenarios: $1650/ 1.40 = 1178 pounds $1550/ 1.40 = 1107 pounds Link to comment Share on other sites More sharing options...
The Mad Hatter Posted October 19, 2010 Report Share Posted October 19, 2010 Just a few pounds off the previous GDP peak... Link to comment Share on other sites More sharing options...
Pixel8r Posted October 19, 2010 Report Share Posted October 19, 2010 $1770? When is that booked in for? Are we all assuming that the parabolic move in gold will be largely as a result of dollar devaluation rather than anything else? With a move to $1650 and GBP/USD at $1.85 that is a sterling price of £891, so nothing spectacular in sterling terms. Is it still a buy (physical) though with sterling cash? or better to use a USD account and load up at bullion vault? or just short the USD? Gold's parabolic move over the whole bull run is nothing but devaluation of all fiat currencies. All fiat currencies are in a race to the bottom, one takes the lead then another takes over. Gold isn't really going up, it is the currencies it is valued in are losing purchasing power. The british pound looks the weakest on here; Link to comment Share on other sites More sharing options...
Eiji Posted October 19, 2010 Report Share Posted October 19, 2010 Well with a rumoured £100bn QE2, who knows what will happen to GBP in relation to gold. GBP rallied with QE1. Do the gurus forsee a stronger £ or weaker? Link to comment Share on other sites More sharing options...
signofthetimes Posted October 19, 2010 Report Share Posted October 19, 2010 bit early in the day for a smackdown ? Link to comment Share on other sites More sharing options...
romans holiday Posted October 19, 2010 Report Share Posted October 19, 2010 bit early in the day for a smackdown ? Temporary setback. Dollar reversal? Link to comment Share on other sites More sharing options...
electroweak Posted October 19, 2010 Report Share Posted October 19, 2010 bit early in the day for a smackdown ? China...China Central Bank Unexpectedly Raises Key Rate for First Time Since 2007 Link to comment Share on other sites More sharing options...
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