qwertyuiop Posted February 19, 2009 Report Share Posted February 19, 2009 978oz 772oz 683oz Link to comment Share on other sites More sharing options...
ziknik Posted February 19, 2009 Report Share Posted February 19, 2009 Dumb question, but if your source is good and there is about to be intervention, why not sell, wait, and buy back for less? It’s not a dumb question My thoughts: * Mass selling will cause the price to fall and the intervention may be put on ice allowing the price PoG to rise again * ‘Being organised’ could mean ‘in six months time’ * The source may be wrong Link to comment Share on other sites More sharing options...
peterb Posted February 19, 2009 Report Share Posted February 19, 2009 Any good suggestions on trading a drop? Put warrants come to mind. Timeframe and strike is the question. Link to comment Share on other sites More sharing options...
Mr Pipples Posted February 19, 2009 Report Share Posted February 19, 2009 My source informed me that a co-ordinated intervention is being organized in the gold market. Don't sell. Buy later. FFS. Link to comment Share on other sites More sharing options...
sideshow Posted February 19, 2009 Report Share Posted February 19, 2009 The miners have been a bit sticky on the upside of recent - particularly given the gains. Do people here use the miners much to gauge the strength of moves in bullion? Also, if I may be so bold as to qualify cgnao's advice, I would say: Sell the ETF while in profit (if you have any, as I did) Use any dip to replace the position with physical Link to comment Share on other sites More sharing options...
Catflap Posted February 19, 2009 Report Share Posted February 19, 2009 I feel that gold could first make a new record high after the stockmarket has bottomed, just like it did at the end of December 1974 - the US stockmarket looks as if it could go lower so I'm waiting until March to see what happens. Another 20% '5th leg' down in the stockmarket could well propel gold even higher so there's every reason to be cautious about going long or short on either gold or stocks - besides, further weakening of the pound against the dollar could help cushion any gold price falls for UK investors. Link to comment Share on other sites More sharing options...
ecoface Posted February 19, 2009 Report Share Posted February 19, 2009 Well, amongst all this bullishness I see, I have to say, I've been busy selling into this strength today. Never my core physical holdings, but taking profits on some gold stocks, and lightening up on a little goldmoney silver. Its well possible we might have a little further to run, but I'll stick make money on my core positions if thats the case. Ditto if it really is 'different this time' and this is the beginning of a run on all fiat currencies.. Does anyone else feel we are just a little overextended at this point? Yes we are definitely over extended. Can't be arsed to justify anymore as I have been for a week now and get shot down. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 19, 2009 Author Report Share Posted February 19, 2009 To all people who want to sell gold in the greatest financial crisis ever: Please do so at the lowest possible price, because the lower you sell, the more I can afford. Thank you! :lol: (Nickels, steamroller, etc. ) Link to comment Share on other sites More sharing options...
warpig Posted February 19, 2009 Report Share Posted February 19, 2009 I think you're mad if you trade this, can't you feel the pressure? Link to comment Share on other sites More sharing options...
azazel Posted February 19, 2009 Report Share Posted February 19, 2009 In 1914, people were tricked into exchanging one of their gold pieces into one voucher. They were told they could exchange them back any time but encouraged not to. Gradually over nearly 100 years the vouchers have been devalued so that you now need 170 vouchers for one of the gold pieces. Unfortunatly for those with vouchers, the scheme is failing and the great fraud is sinking like the titanic. Those with insight got themselves into a life boat. Some of them, seeing that other lifeboats had what look like greater riches, got back on the titanic in an effort to chance a place on a better life boat. Link to comment Share on other sites More sharing options...
qwertyuiop Posted February 19, 2009 Report Share Posted February 19, 2009 I think you're mad if you trade this, can't you feel the pressure? Pressure? Up or down? Link to comment Share on other sites More sharing options...
Errol Posted February 19, 2009 Report Share Posted February 19, 2009 People still haven't understood. Price is irrelevant. If you can buy physical, buy it. Keep it in your own hands. Do not sell or trade it. Ignore the day to day, week to week, even month to month price movements. Link to comment Share on other sites More sharing options...
FWIW Posted February 19, 2009 Report Share Posted February 19, 2009 People still haven't understood. Price is irrelevant. If you can buy physical, buy it. Keep it in your own hands. Do not sell or trade it. Ignore the day to day, week to week, even month to month price movements. Well said Errol. People need to understand the situation we are in. It's going to get worse before it gets better. from http://online.wsj.com/article/SB1235045152...tml?mod=testMod The Dow Jones Industrial Average set a new bear-market closing low, as the financial sector continued to decline and investors found little impetus to buy in a flurry of economic data. The Dow Jones Industrial Average dropped 89.68 points, or 1.2%, to close at 7465.95. The blue-chip benchmark had flirted all week with its five-and-half-year closing low of 7552.29, set on Nov. 20. Thursday, the Dow briefly dipped under its five-and-a-half-year intraday low of 7449.38 of Nov. 21. Link to comment Share on other sites More sharing options...
TW11 Posted February 19, 2009 Report Share Posted February 19, 2009 The miners have been a bit sticky on the upside of recent - particularly given the gains. Do people here use the miners much to gauge the strength of moves in bullion? I've been trading the gold miners since 2005 and I think they normally are a good leading indicator. I'm completely out of my mining stocks just now. One day it won't work of course. It will be the day it goes parabolic and you just won't get a dip to buy back in on... But I got caught up in the '06 correction and learnt the hard way - I'm not doing that again. Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 20, 2009 Report Share Posted February 20, 2009 In 1914, people were tricked into exchanging one of their gold pieces into one voucher. They were told they could exchange them back any time but encouraged not to. Gradually over nearly 100 years the vouchers have been devalued so that you now need 170 vouchers for one of the gold pieces. yeah, it's crazy to think that this time last century a pound would buy you a full sovereign; today it won't even buy you a kilo of basmati. Link to comment Share on other sites More sharing options...
pursestrings Posted February 20, 2009 Report Share Posted February 20, 2009 Dumb question, but if your source is good and there is about to be intervention, why not sell, wait, and buy back for less? Hate to even try to answer a question asked of Cg, but I have the feeling it won't work. You won't be able to buy back for less. Please excuse this post if the event I'm completely wrong. Just a feeling I have. Link to comment Share on other sites More sharing options...
electroweak Posted February 20, 2009 Report Share Posted February 20, 2009 Thinking about this UBS client situation and its implications... So, UBS is forced to handover details of 50000 tax evaders. This has to damage the credibility of the Swiss banking system, IMO. Add to this the calls from Gordon Brown for concerted 'tax haven' action by the US, Europe, UK etc. and you might have a full-blown panic in the offshore account world. Now, where is that money going to go? Other tax havens are also vulnerable. Any digital security leaves an electronic trail of evidence. I bet a fair chunk is going into physical gold. Link to comment Share on other sites More sharing options...
Fortune Posted February 20, 2009 Report Share Posted February 20, 2009 Thinking about this UBS client situation and its implications... So, UBS is forced to handover details of 50000 tax evaders. This has to damage the credibility of the Swiss banking system, IMO. Add to this the calls from Gordon Brown for concerted 'tax haven' action by the US, Europe, UK etc. and you might have a full-blown panic in the offshore account world. Now, where is that money going to go? Other tax havens are also vulnerable. Any digital security leaves an electronic trail of evidence. I bet a fair chunk is going into physical gold. Will the really go after the 'elite' clients in Switzerland? Surely the government insiders and their mates have their stash there as well? And what about the VIAMat gold vaults? Link to comment Share on other sites More sharing options...
azazel Posted February 20, 2009 Report Share Posted February 20, 2009 Gold doesn't look bearish to me. Gold setting off to take out $1000 for the weekend? Link to comment Share on other sites More sharing options...
azazel Posted February 20, 2009 Report Share Posted February 20, 2009 yeah, it's crazy to think that this time last century a pound would buy you a full sovereign; today it won't even buy you a kilo of basmati. In one generation, people have been fooled out of their gold. For thousands of years gold is universally known as money. For King and country people are encouraged to leave their gold with the BofE and use paper vouchers instead to help the war effort and now most think gold is a commodity, something plated onto hifi plugs and quite useless otherwise, except jewelry. Link to comment Share on other sites More sharing options...
jinbal Posted February 20, 2009 Report Share Posted February 20, 2009 $990 Have to say - the move recently feel a little like last march where we rocketed to $1030 then tanked. Would much prefer a slow grind upward - better for nerves Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 20, 2009 Author Report Share Posted February 20, 2009 $990.10$ Link to comment Share on other sites More sharing options...
alexreeve Posted February 20, 2009 Report Share Posted February 20, 2009 £692/toz Link to comment Share on other sites More sharing options...
dietcolaaddict Posted February 20, 2009 Report Share Posted February 20, 2009 To all UK GEI members - have your lunch infront of the computer screen today - $1000 is coming very soon. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 20, 2009 Author Report Share Posted February 20, 2009 To all UK GEI members - have your lunch infront of the computer screen today - $1000 is coming very soon. I hate to say it, but proper lunch is more important than gold (especially if you know that $1,000 gold is a joke/far too cheap anyway). Link to comment Share on other sites More sharing options...
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