drbubb Posted September 17, 2008 Report Share Posted September 17, 2008 Oh Brave New World - that has such price moves in it ! GLD- Gold's etf / update Look at that volume- something was vanquished yesterday ! Apart from the short covering, you have people fleeing Money Funds, some of which have now "broken a buck" - This is Gold's attraction in a deflationary time (at least where there's a "whiff of deflation")- The place of ultimate safety. Link to comment Share on other sites More sharing options...
Compounded Posted September 17, 2008 Report Share Posted September 17, 2008 Any market that can drop $300 on pure bullshit can easily rise $500 on facts. -- Jim Sinclair (17/09/08) And a gold bull is a bloody hard ride, Jim Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 ... Look at that volume- ... Amazing. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 I love the complicated arguments, (and the poster of that quote went on to recommend a long list of ETFs,) but for someone like me who doesn't understand gold fundamentals, it's not a total disaster, IMHO, DYOR. You do not need to understand gold fundamentals. Just understand that the financial world in unravelling... which is easy enough when it is slapping you in the face. Link to comment Share on other sites More sharing options...
drbubb Posted September 17, 2008 Report Share Posted September 17, 2008 Three Month Money Action Nothing Short of Astonishing Author: Dan Norcini If you look at the chart of 3 month money (see charts in PDF format), you can see that the yield has fallen almost to ZERO! Today, the yield closed at 0.3%.There has been such a wild rush into shorter dated securities that they no longer have any appreciable yield to speak of. I believe this is one of the reasons gold is performing so strongly. Simply put - it is much more attractive as a safe haven play because investors have pushed yields on short term paper to the point of nothingness. With gold you get not only the age old safety and security that comes with a currency that has stood the test of time, you also get the opportunity for tremendous capital gains as well. Link to comment Share on other sites More sharing options...
radge Posted September 17, 2008 Report Share Posted September 17, 2008 Excuse me, Gentlemen. I have just returned home from a most enjoyable session at Sandy Bell's, looked at the gold price chart and it appears I need to change my underpants. I only hope the senior partner in the business I manage followed my advice @ 09:30 and paid our working capital out of our BoS acct to each individual partner pro-tem. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 If anyone wants to sell their REAL physical gold or silver, I'm buying all that you have on offer :lol: I guess this is the time we've been waiting for. Lets hope we all survive it. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 Oh Brave New World - that has such price moves in it ! GLD- Gold's etf / update Look at that volume- something was vanquished yesterday ! Apart from the short covering, you have people fleeing Money Funds, some of which have now "broken a buck" - This is Gold's attraction in a deflationary time (at least where there's a "whiff of deflation")- The place of ultimate safety. Now that's a golden inflection point :D Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 It's a two stage rocket !!!! The second stage has just gone off !!!!! Watch it go....... $877.78 $878 Edited to add: $882.7 (12.26am) Edited to add: $887.7 (12.28am) Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 Does anyone want to take a bet against $1250 this year ? Link to comment Share on other sites More sharing options...
sylvester Posted September 18, 2008 Report Share Posted September 18, 2008 F ME! I avoided the 'puter late last night and this morning to concentrate on flight exams and it seems Gold has been doing all the flying! I was only thinking yesterday that at least my NZ$ value of gold was getting back to around the price I paid for it. Ker ching today! Well done all the holders, may I wish you many more days like this. EDIT:Let's hope the asian markets follow suit... Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 Nice picture ---------------- Dear friends, If you look at the chart of 3 month money (see charts in PDF format), you can see that the yield has fallen almost to ZERO! Today, the yield closed at 0.3%.There has been such a wild rush into shorter dated securities that they no longer have any appreciable yield to speak of. I believe this is one of the reasons gold is performing so strongly. Simply put - it is much more attractive as a safe haven play because investors have pushed yields on short term paper to the point of nothingness. With gold you get not only the age old safety and security that comes with a currency that has stood the test of time, you also get the opportunity for tremendous capital gains as well. Dan Norcini http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=6682 ---------------- Looking at the chart, one might expect some resistance somewhere around here. Maybe. But maybe not ! I wouldn't want to be shorting gold right now Link to comment Share on other sites More sharing options...
warpig Posted September 18, 2008 Report Share Posted September 18, 2008 I enjoyed today, it's been hard work keeping up with everyone's posts though, I'll live! Wow $100 in a day... Tomorrow is going to be a telling day. Link to comment Share on other sites More sharing options...
sylvester Posted September 18, 2008 Report Share Posted September 18, 2008 May I... (first asian rocket) Link to comment Share on other sites More sharing options...
GTG Posted September 18, 2008 Report Share Posted September 18, 2008 SORRY - I NEED TO CHANGE AND CLARIFY THIS.... I just noticed you referred to a "leveraged" silver ETC. That places it in the same category as the AIG backed commodities ETFs, but its still no cause for concern (for the reasons I gave) To make 110% sure of all this, I've just come off the phone with Nigel Phelan from ETF Securities (one of their top guys) The main points to come out of that discussion were: - Now that AIG has been made stable (at least for a year or two) ETF Securities has been able to reach an agreement with the market makers such that normal trading will resume tomorrow morning - That trading will be based upon the price of the underlying commodity or index, regardless of whatever pannick selling might take place - Had AIG gone bust, investors would have lost all the money that was backed by AIG. ETF Securities is now restructuring the basis of their AIG backed ETFs such that the investor would not loose the money should AIG ever go bust in the future - Nigel is one of the few people that has been privaledged enough to actually see the silver that DOES EXIST and which backs their unleveraged silver ETF. - That silver belongs to the investors, and so even if the banks that stores it should go bust, then its value will be returned to the investors EDIT: I wish to add how impressed I am with the professionalism of ETF Securities. They have had top people phone me back twice these last two days, and on each occasion given clear and complete answers to my various questions. Shame they can't be put in charge of the government Great post bigtbigt, thanks. I believe the custodian is HSBC in New York. Link to comment Share on other sites More sharing options...
Compounded Posted September 18, 2008 Report Share Posted September 18, 2008 What is the best way to invest in the miners? Can anyone recomend a few that trade on the LSE or maybe a good fund trading on the LSE? Miners; Bubb is an expert, there is loads of stuff deeper in this site. Link to comment Share on other sites More sharing options...
romans holiday Posted September 18, 2008 Report Share Posted September 18, 2008 This is explosive! Where is it going to stop? Just went through 890 Edit: opps... shouldn't have said that. Link to comment Share on other sites More sharing options...
ares Posted September 18, 2008 Report Share Posted September 18, 2008 Simply amazing day on the markets, quite a rush! Looks like it hit 897 (dec 08) in Asia, I think a pull back to 850 would be ideal then we look to 900 proper. This kind of action only makes the Miners look like the bargain of a life time! Link to comment Share on other sites More sharing options...
electroweak Posted September 18, 2008 Report Share Posted September 18, 2008 Gold being sold to fund margin calls in Asia??? (Hang Seng now down 7.5%..) (Gold spot at $857) Link to comment Share on other sites More sharing options...
Benall Posted September 18, 2008 Report Share Posted September 18, 2008 IG Index OCT-08 spiked down to 846 while the markets were closed. Has anyone here ever seen that before (or more importantly been stopped out like this)? Oh yes, many times. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 18, 2008 Author Report Share Posted September 18, 2008 ... Just went through 890 ... That's +$110 intraday. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 Treasury to provide cash to Fed market liquidity operations By Greg Robb Last update: 10:09 a.m. EDT Sept. 17, 2008 http://www.marketwatch.com/news/story/trea...p;dist=hplatest WASHINGTON (MarketWatch) -- The Treasury Department announced Wednesday that it would provide cash to the Federal Reserve to fund the central bank's operations to provide liquidity to financial markets. In a statement, Treasury said that it would raise the cash in a program of Treasury bill auctions, known as a temporary Supplementary Financing Program. comment: buy gold. buy it as soon as possible. the tsunami is within sight. protect yourself and GET GOLD IF YOU CAN FIND ANY! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 Somebody with very deep pockets is having a very big panic attack right now - have a look at these http://bubblepedia.net.au/tiki-view_forum_...c&forumId=7 isn't it bizzarre that somebody would be willing to put an order in to sell those banks at 40% below yesterday's price. Link to comment Share on other sites More sharing options...
Johan van der Smut Posted September 18, 2008 Report Share Posted September 18, 2008 POG slipping to low $850s as London opens. I hope it drops a little more, temporarily you understand, to give us ETF refugees a chance to clamber aboard the starship Gold Bull. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 18, 2008 Report Share Posted September 18, 2008 If I believed in manipulation I'd think there was some Yen flowing into the US$ right now. Yen used to push up US$ to push down on gold ? Link to comment Share on other sites More sharing options...
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