sbn Posted March 19, 2008 Report Share Posted March 19, 2008 960 is holding. - seemed to be a fair amount of resistance at 970 too. looking very tempting now! - if it goes below 900 - I'm going to have to sell a kidney! Link to comment Share on other sites More sharing options...
sbn Posted March 19, 2008 Report Share Posted March 19, 2008 my mistake - 952 Link to comment Share on other sites More sharing options...
wren Posted March 19, 2008 Report Share Posted March 19, 2008 960 is holding. - seemed to be a fair amount of resistance at 970 too.I see $956.40. Impressive. Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 Hey, I sold my house and put all the money into gold last week at $1030 because you guys told me gold was going to the moon. I want my money back! Just wait a few months and you'll get it and more. I bet you base all your decisions on what the man on the internet told you. In that case you may be interested to know that I am currently trying to access the funds of a dead Nigerian prince, which total more then 96 Million US dollars. Unfortunately there are large release and legal fees associated with this process. If you can help contribute to these fees, I guarantee you a share of Prince Gullibali's fortune. The trolls have arrived. Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 I need to see the volume on this. A breach of support on light volume will probably be a bear trap. Stay careful, though. Let the big players make their money and pick a direction. Edit: Looks like silver is paying the price for its previous outperformance - below $18.60! Sets up another beautiful opportunity when we find the bottom. Link to comment Share on other sites More sharing options...
Magpie Posted March 19, 2008 Report Share Posted March 19, 2008 Just wait a few months and you'll get it and more. I bet you base all your decisions on what the man on the internet told you. In that case you may be interested to know that I am currently trying to access the funds of a dead Nigerian prince, which total more then 96 Million US dollars. Unfortunately there are large release and legal fees associated with this process. If you can help contribute to these fees, I guarantee you a share of Prince Gullibali's fortune. The trolls have arrived. Sorry, just a little joke. I know it rollercoasters up and down, and even as a non-goldbug I don't think $1030 is the top by a fair way. Not sure why there's this dip but I suspect it's a dip rather than a crash. Anyway, what do I have to do to get the Prince's fortune then, can I send you £10K as a downpayment? £20K? Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 Sorry, just a little joke. I know it rollercoasters up and down, and even as a non-goldbug I don't think $1030 is the top by a fair way. Not sure why there's this dip but I suspect it's a dip rather than a crash. Anyway, what do I have to do to get the Prince's fortune then, can I send you £10K as a downpayment? £20K? Sorry for calling you a troll then. For a moment I thought you were Red Kharma or Charlie the Tramp in disguise. Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 19, 2008 Report Share Posted March 19, 2008 Gotta hand it to the "cartel" . . . they've done very well getting gold and silver down so heavily. Stark contrast to Sunday night/Monday morning when we had $1030 and $21.50 respectively. I dunno where the money's going but it doesn't seem to be equities. Hoarding cash for a big announcement, perhaps ? Link to comment Share on other sites More sharing options...
Gatesy Posted March 19, 2008 Report Share Posted March 19, 2008 Will silver hold at 18.50 ...? Daily chart looks a lot healthier (sustainable) for it, as long as today doesn't close out much below this. Link to comment Share on other sites More sharing options...
Magpie Posted March 19, 2008 Report Share Posted March 19, 2008 Sorry for calling you a troll then. For a moment I thought you were Red Kharma or Charlie the Tramp in disguise. Nah, I'm already a known gold sceptic in my own right, just haven't been around much lately. Sceptical more of the theory than the bull run though. Anyhow, anyone got any good theories as to why the price is being hit so bad today (other than the old 'cartel' trump card)? Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 I'm tempted here, very tempted. Might have a little nibble with a tight stop. Edit: Got in at 957.50, out at 965, still too wary to hold for long. Link to comment Share on other sites More sharing options...
Bobsta Posted March 19, 2008 Report Share Posted March 19, 2008 Gotta hand it to the "cartel" . . . they've done very well getting gold and silver down so heavily. Stark contrast to Sunday night/Monday morning when we had $1030 and $21.50 respectively. Certainly is quite amazing the difference between now and 54 hours ago. I've gone from Carrera 4 to Cayman S type territory... that's quite a kicking. (not that I ever would blow my profits in such a way) Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 19, 2008 Author Report Share Posted March 19, 2008 Hey, I sold my house and put all the money into gold last week at $1030 because you guys told me gold was going to the moon. I want my money back! :lol: Magpie, always good for a laugh. Anyway, this looks like the pre-Easter sale to me. I hope it continues until I have received and sent off my new funds. I'd love to take advantage of such a dip. Link to comment Share on other sites More sharing options...
Goldilocks Posted March 19, 2008 Report Share Posted March 19, 2008 Right my friend looked at the etfs and Perth Mint ,he has decided to dip his toes in and buy physical coins,like kruggers about 20k it total for now , was suggesting coininvestdirect.com but would they ask for id crap for been over the official 5k limit or spread it around Bairds,Chards,ATS and so on to keep the greedy tax abusers and collectors from been nosey. I know people here have used them and recommenced them as trustworthy etc.. Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 Nah, I'm already a known gold sceptic in my own right, just haven't been around much lately. Sceptical more of the theory than the bull run though. Anyhow, anyone got any good theories as to why the price is being hit so bad today (other than the old 'cartel' trump card)? Fear, pure and simple. The run has been good ($350+ in a few months) and people think it has ended in tragedy. I disagree, the rise has been orderly and there was no blow off top, so the shorts never really got shaken out and the longs didn't get over exuberent. The fear and the depth of the fall is being justified purely on technical analysis, as we have moved a long way above the long term moving averages and theoretically we can plunge down to test them. I suppose the process could be technically defined as profit taking, but it is cartel enforced profit taking if anything. The fundamentals are the most insanely bullish I've ever seen in gold, but unfortunately chartists pay no attention to this. When the market calms, the rally should initially be powerful as the idiots realise they've oversold (and in typical idiot fashion, on good news). Then we get back in the channel and meander on to the real blow off top. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 19, 2008 Author Report Share Posted March 19, 2008 Any thoughts on platinum? Prices seem more reasonable again, but SA will still need years to sort their power problems. Good time to get in? Link to comment Share on other sites More sharing options...
Bobsta Posted March 19, 2008 Report Share Posted March 19, 2008 Good time to get in? Certainly better than 2-3 weeks ago! (sorry, that didn't really add much) Link to comment Share on other sites More sharing options...
ologhai Posted March 19, 2008 Report Share Posted March 19, 2008 It doesn't add anything either, but about 20 mins ago, I bought some more gold and silver. For good or ill, I've now spent almost 50% of my original PM Fund. Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 Any thoughts on platinum? Prices seem more reasonable again, but SA will still need years to sort their power problems. Good time to get in? I think platinum could be in the same boat as silver, really vulnerable if this downturn continues, due to its recent outperformance. I'm looking at gold and oil to confirm sanity has returned, then I'll hop into the PM which offers the best value (at the moment this is looking like it will be silver). Link to comment Share on other sites More sharing options...
chazza Posted March 19, 2008 Report Share Posted March 19, 2008 If I had GOldfngers inexhaustible supply of reserves I would be topping up my spread bettnig account to buy gold, er, 5 mins ago Link to comment Share on other sites More sharing options...
chazza Posted March 19, 2008 Report Share Posted March 19, 2008 Fannie, Freddie Surplus Capital Requirement Is Eased ``It's critical for them to have additional capital,'' Lockhart said at the new conference. ``These companies are safe and sound and we're going to ensure by our everyday oversight that they continue to be safe and sound,'' Lockhart said. Uh? Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 19, 2008 Report Share Posted March 19, 2008 It doesn't add anything either, but about 20 mins ago, I bought some more gold and silver. I was just about to buy more silver thru GoldMoney but realised they chuck a buck on the price of an ounce. I mean, spot rate was $18.86 and they wanted $19.96 Considering I was gonna pick up a tousand ounces, that's $900 or £450 . . . no way Jose I don't remember them being so pricey when I bought silver thru them initially. Anyone know any other way to buy silver . . . apart from an ETF ? Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 I was just about to buy more silver thru GoldMoney but realised they chuck a buck on the price of an ounce. I mean, spot rate was $18.86 and they wanted $19.96 Considering I was gonna pick up a tousand ounces, that's $900 or £450 . . . no way Jose I don't remember them being so pricey when I bought silver thru them initially. Anyone know any other way to buy silver . . . apart from an ETF ? You could by a miner or royalty company. Silver Wheaton (SLW) has taken a bit of a beating, not a much as I would have liked, but it is down a couple of dollars from its highs. It works in a similar way to Royal Gold, on revenue generated through contracts with mining companies. It, like Royal Gold, has an extremely large short position outstanding and has failed to track the recent rise in silver, so should suffer less downside risk. It's currently trading just below $17 and has the potential to reach 1:1 with silver over the next few months, as it has unhedged leverage (potentially 1.5:1) to the silver price. DYOR of course. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 19, 2008 Report Share Posted March 19, 2008 is Silver any good against Blue Tongue Link to comment Share on other sites More sharing options...
marceau Posted March 19, 2008 Report Share Posted March 19, 2008 is Silver any good against Blue Tongue I don't know. It's good against werewolves, though. Link to comment Share on other sites More sharing options...
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