LauraB Posted August 8, 2011 Report Share Posted August 8, 2011 ZH is highlighting a possible bank implosion side effect: For a just as big problem we shift our attention to the next worst bank in America, Citigroup, which as the excerpt below demonstrates, was a bragging point in the firm's January 2011 letter. Alas, there is little to brag about these days. Which is why we wish to caution investors to be vary careful with liquidation-like selloffs in gold. Should D-Day strike at Paulson, the firm's multi-billion GLD "gold share class" will likely have to be sold very fast to preserve liquidity. When that happens we may see a 20-30% correction in gold in one day. This is just a theoretical warning, and we hope to have some sense of when, if at all, it would take place. http://www.zerohedge.com/news/bank-america-just-start-paulsons-problems-behold-citigroup Having just had the official Euro-Confetti helicopter fly by showering us with the stuff I would not be too impressed if it returned & demanded the stuff back. Though I'd like to see it land Link to comment Share on other sites More sharing options...
fitkid Posted August 8, 2011 Report Share Posted August 8, 2011 There is definitely a real business opportunity to set up in competition against the uk dealers,Bairds for example, they were operating the same buy to sell spread percentage wise when gold was a third to half its current value i.e. 8% on gold at £400.oo an oz profit a few years ago v profit at 8% when gold is £1050.00 an ounce same deal but with over twice as much profit for the dealer! I wonder how long it will be before physical price is at premium to spot/futures/options/paper gold? That’s the real question when people realize fiat paper cash is worth very little as is a paper IOU GOLD? Regards ML Your Joking,i am still buying at am or pm fix on sovereigns,its like everything you need to know where to go and its all about who you know.Hockley Birmingham the UK's largest gold centre BY FAR has several dealers who are working on 1-1.5-2% above am or pm fix.ANYBODY BUYING FROM ATS, CHARD's or BAIRD's have not done their homework.Probably a few years ago now, on this thread i told people were to go to get metal at fix or just over.The Market is FEROCIOUSLY competitive. I managed to acquire some physical metal today from my PREFERED supplier but no where near enough to complete my order. Link to comment Share on other sites More sharing options...
LauraB Posted August 8, 2011 Report Share Posted August 8, 2011 (edited) Fitkid, --------------------------------------------------- Now have a HUG Edited August 8, 2011 by LauraB Link to comment Share on other sites More sharing options...
fitkid Posted August 8, 2011 Report Share Posted August 8, 2011 Fitkid, will please turn on your PM facility or I will publicly shred your attempts at typing English every time it annoys me until Bubb shuts me down!!! - Thank you! Now have a HUG LB my pm facility is on, at least as far as i know i had a few PM's the other day. Link to comment Share on other sites More sharing options...
LauraB Posted August 8, 2011 Report Share Posted August 8, 2011 LB my pm facility is on, at least as far as i know i had a few PM's the other day. Hmm, works now. The other day I was being told it was not. Humble apologies. You may wish to edit? Link to comment Share on other sites More sharing options...
Pixel8r Posted August 8, 2011 Report Share Posted August 8, 2011 The Gold and Platinum price are swapping place currently, gold was actually $4 more expensive an ounce than Pt 10 mins ago. Thinking about swapping some of my gold to platinum via GM and am wondering what others thoughts are? My thinking is that the last time that gold and platinum were the same price was in the depths of the crash in '08, gold is showing strength as it is the stable go too asset, where as Pt is being sold down as an industrial metal. IMO this can't last as Pt is far more precious than gold and maybe a good opportunity to swap. Link to comment Share on other sites More sharing options...
fitkid Posted August 8, 2011 Report Share Posted August 8, 2011 The Gold and Platinum price are swapping place currently, gold was actually $4 more expensive an ounce than Pt 10 mins ago. Thinking about swapping some of my gold to platinum via GM and am wondering what others thoughts are? My thinking is that the last time that gold and platinum were the same price was in the depths of the crash in '08, gold is showing strength as it is the stable go too asset, where as Pt is being sold down as an industrial metal. IMO this can't last as Pt is far more precious than gold and maybe a good opportunity to swap. SIR PIXEL8R i was just about to post this chart showing the anomaly on platinum scrap price it has been under 22k Au price for scrap for weeks.Any ideas why platinum is scrapping lower than even 22 k Au.? http://www.cooksongold.com/metalprices/ Metal Date GBP / Unit GBP / oz USD / oz EURO / oz Silver (AG) Mon 08 Aug 2011 780.62 KG 24.28 39.86 27.958 Gold (AU) Mon 08 Aug 2011 AM 33.467 GM 1040.944 1709.75 1195.211 Gold (AU) Mon 08 Aug 2011 PM 33.295 GM 1035.601 1693.0 1194.104 Iridium (IR) Mon 08 Aug 2011 20.737 GM 645.0 1050.0 743.72 Palladium (PD) Mon 08 Aug 2011 14.431 GM 448.85 733.0 517.3 Platinum (PT) Mon 08 Aug 2011 33.962 GM 1056.35 1725.0 1217.35 Rhodium (RH) Mon 08 Aug 2011 37.038 GM 1152.0 1875.0 1328.318 Ruthenium (RU) Mon 08 Aug 2011 3.456 GM 107.5 175.0 123.953 Scrap Metal Date GBP / Unit GBP / oz USD / oz EURO / oz 9ct Gold Scrap Mon 08 Aug 2011 12.111 GM 376.7 615.829 434.355 14ct Gold Scrap Mon 08 Aug 2011 18.893 GM 587.652 960.693 677.594 18ct Gold Scrap Mon 08 Aug 2011 24.222 GM 753.4 1231.658 868.711 22ct Gold Scrap Mon 08 Aug 2011 29.583 GM 920.152 1504.264 1060.985 Platinum Scrap Mon 08 Aug 2011 24.763 GM 770.211 1257.741 887.6 Silver Scrap Mon 08 Aug 2011 642.645 KG 19.989 32.815 23.016 Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 8, 2011 Author Report Share Posted August 8, 2011 The Gold and Platinum price are swapping place currently, gold was actually $4 more expensive an ounce than Pt 10 mins ago. Thinking about swapping some of my gold to platinum via GM and am wondering what others thoughts are? My thinking is that the last time that gold and platinum were the same price was in the depths of the crash in '08, gold is showing strength as it is the stable go too asset, where as Pt is being sold down as an industrial metal. IMO this can't last as Pt is far more precious than gold and maybe a good opportunity to swap. Very good point. However, Pd has been plumbing even lower depths recently. http://www.markt-daten.de/charts/rohstoffe/images/au-pt-ratio.gif http://www.markt-daten.de/charts/rohstoffe/images/gold-platin-ratio.gif http://www.markt-daten.de/charts/rohstoffe/images/pt-pd-ratio.gif http://www.markt-daten.de/charts/rohstoffe/images/platin-palladium-ratio.gif Link to comment Share on other sites More sharing options...
romans holiday Posted August 8, 2011 Report Share Posted August 8, 2011 Sorry Pixel, gold has now left your chart. http://gold.approximity.com/gold-silver_watch.html Pity is wasn't logarithmic. Palladium isn't an option on Goldmoney is it? Edit. Yes it is. Could be tempting when/ if the ratio's bit lower. Any chnace of a gold/ palladium chart? Link to comment Share on other sites More sharing options...
Pixel8r Posted August 8, 2011 Report Share Posted August 8, 2011 SIR PIXEL8R i was just about to post this chart showing the anomaly on platinum scrap price it has been under 22k Au price for scrap for weeks.Any ideas why platinum is scrapping lower than even 22 k Au.? Wow thats a big difference, well spotted. Sorry but I have no I idea why that could be, other than there is a lot of scrap Platinum coming onto the market currently. Maybe a lot of old cars are being scrapped? Link to comment Share on other sites More sharing options...
Pixel8r Posted August 8, 2011 Report Share Posted August 8, 2011 Very good point. However, Pd has been plumbing even lower depths recently. http://www.markt-dat...latin-ratio.gif Thanks for these charts GF, the one above is giving me second thoughts on my swap currently. Look at the Au/Pt ratio in 1980, looks at about 1.5 to me. Link to comment Share on other sites More sharing options...
50sQuiff Posted August 8, 2011 Report Share Posted August 8, 2011 Well, there are riots on the streets of Britain, equity markets tanking and a run on physical gold. It's almost unreal. When you've have quiet conversations with close friends and family about what the future holds, it's eerie to see it happening. Not enjoyable to have to call your sister and ask if she's OK. No-one here hasn't been watching gold today, but here it is anyway for posterity: Link to comment Share on other sites More sharing options...
Errol Posted August 8, 2011 Report Share Posted August 8, 2011 Pray for a correction. Pray. I'd like it to drop back several hundred dollars - then a pause to consolidate before the drive to $2000+. Link to comment Share on other sites More sharing options...
fitkid Posted August 8, 2011 Report Share Posted August 8, 2011 Pray for a correction. Pray. I'd like it to drop back several hundred dollars - then a pause to consolidate before the drive to $2000+. Give up on that one now it looks like it is going to run and run.Even if they do launch some outlandish propoganda to spin the sheeple i dont see it effecting PHYSICAL METAL much............ITS STARTED. CONmex might make cheap paper but who in their RIGHT mind wants that SH*T. Link to comment Share on other sites More sharing options...
warpig Posted August 9, 2011 Report Share Posted August 9, 2011 Everything is crashing... All the indexes around the world - HANG SENG INDEX - 7.71% + gold at $1,742/t.oz. BBC keep saying the only winner is gold. I think QE3 could accelerate the decline. Gold up $80/t.oz or £56/t.oz since the weekend! [and still rising...] Link to comment Share on other sites More sharing options...
harvipark Posted August 9, 2011 Report Share Posted August 9, 2011 Gold up $80/t.oz or £56/t.oz since the weekend! [and still rising...] The frustrating thing for me is the Gold stocks are still left on the launchpad! Only bright light is that they dont seem to be selling off like the general market Link to comment Share on other sites More sharing options...
warpig Posted August 9, 2011 Report Share Posted August 9, 2011 They'll come good... The frustrating thing for me is the Gold stocks are still left on the launchpad! Only bright light is that they dont seem to be selling off like the general market Link to comment Share on other sites More sharing options...
harvipark Posted August 9, 2011 Report Share Posted August 9, 2011 They'll come good... The economic commentators are all saying the same in that they are undervalued, but its still bloody frustrating! Link to comment Share on other sites More sharing options...
Jake Posted August 9, 2011 Report Share Posted August 9, 2011 1751 Link to comment Share on other sites More sharing options...
romans holiday Posted August 9, 2011 Report Share Posted August 9, 2011 The economic commentators are all saying the same in that they are undervalued, but its still bloody frustrating! Difference between the two is gold is a form of liquidity.... gold stocks, investment. The story of gold stocks being a leverage on gold is not so straight forward. Doesn't mean to say that they might not perform in the end.... but that there is a further element of risk/ investment involved with stocks over and above gold itself. Makes sense to first have a solid core in gold, and then decide whether or not you wanted to branch out into stocks etc. Link to comment Share on other sites More sharing options...
romans holiday Posted August 9, 2011 Report Share Posted August 9, 2011 1751 Might get that spike to 1800. Link to comment Share on other sites More sharing options...
harvipark Posted August 9, 2011 Report Share Posted August 9, 2011 Difference between the two is gold is a form of liquidity.... gold stocks, investment. The old story of gold stocks being a leverage on gold is not so straight forward. Doesn't mean to say that they might not perform in the end.... but that there is a further element of risk involved with stocks over and above gold itself. Makes sense to first have a solid core in gold, and then decide whether or not you wanted to branch out into stocks etc. The way i invested was to have a core in gold stocks and a lesser amount in bullion. When i bought the bullion in 2007, the physical was lagging the stocks by a fair amount. That has now reversed. Warpig is right in that the stocks will have their day again but it is just soul destroying to see these big moves in physical and seeing no movement in the stocks at all. Dont get me wrong, my gold stocks are showing a healthy profit so i have no reason to complain Link to comment Share on other sites More sharing options...
fitkid Posted August 9, 2011 Report Share Posted August 9, 2011 The way i invested was to have a core in gold stocks and a lesser amount in bullion. When i bought the bullion in 2007, the physical was lagging the stocks by a fair amount. That has now reversed. Warpig is right in that the stocks will have their day again but it is just soul destroying to see these big moves in physical and seeing no movement in the stocks at all. Dont get me wrong, my gold stocks are showing a healthy profit so i have no reason to complain PROFITS IN WHAT BL**dy paper. YOU NEED PHYSICAL METAL AND COUNT YOUR OUNCES NOT PAPER PROFITS. Look at what is happening mad max beyond the thunderdome looks like a childrens bedtime story now. Link to comment Share on other sites More sharing options...
Jake Posted August 9, 2011 Report Share Posted August 9, 2011 Might get that spike to 1800. Well probably 1764 at this rate. Imagine waking up in the UK today! Link to comment Share on other sites More sharing options...
Jake Posted August 9, 2011 Report Share Posted August 9, 2011 Well probably 1764 at this rate. Imagine waking up in the UK today! Oh dear, there she goes...merry Christmas 1768 Link to comment Share on other sites More sharing options...
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