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Getting there. Bull market is still young. But beware the correction.

 

I will be keen to hear your next target in gbp. Let me know (at the time) when to exchange for other assets please cgnao.

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Getting there. Bull market is still young. But beware the correction.

 

Great to see you CG :)

 

Especially since today was the day the net value of my gold bought over the last 3 years hit the x2 (over purchase price) mark.

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gold & silver made some gains but as cg puts it correction seems to be winning.

 

its bankster at it again, one day, it will be game over for them.

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Great to see you CG :)

 

Especially since today was the day the net value of my gold bought over the last 3 years hit the x2 (over purchase price) mark.

My net value of Au has almost trebled over last three years bought near £300 now £900.

 

Ag has more than doubled from £9 to £19.

 

Thanks CG et al.

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My net value of Au has almost trebled over last three years bought near £300 now £900.

 

Ag has more than doubled from £9 to £19.

 

Thanks CG et al.

 

I'd have gone further in earlier on but thought it was a bit of a wild punt based on some bloke on the interrnet. Glad I dipped my toe in when I did though otherwise I'd never have properly "protected myself" ;)

 

The sad thing is though that I still can't afford to buy a decent house in W London suburbs :(

 

Edit: Without a mortgage that is - not too far off now though thanks to CG, Goldfinger et al :)

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My net value of Au has almost trebled over last three years bought near £300 now £900.

 

Ag has more than doubled from £9 to £19.

 

Thanks CG et al.

 

Perhaps you want to say gold/silver has preserved your purchasing power. While pounds from 2007 are worth a lot less in 2010. ;)

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Gold May Gain on Demand for Currency Alternative; Silver Near 30-Year High

 

http://www.bloomberg.com/news/2010-12-07/g...-year-high.html

Gold climbed to records in New York and London on investor demand for an alternative investment to currencies. Silver advanced to a 30-year high.

 

........

 

“With all the concern going on about the U.S., and all the debt issues in Europe, there’s no currency that anybody really wants to hold,” said Connor Noonan, an analyst at Castlestone Management Ltd. in London. “What we used to see in this kind of situation was safe-haven buying in dollars and now that’s turning into safe-haven buying of gold.”

 

.....

 

Assets of gold in exchange-traded products rose 0.75 metric ton to 2,099.15 tons yesterday as prices climbed to an all-time high, according to data compiled by Bloomberg from 10 providers. Gold prices have jumped 30 percent this year after governments spent trillions of dollars and kept interest rates low to bolster economies after the worst global recession since World War II.

 

Debt Crisis

 

“The market is all about the European debt crisis and a third round of quantitative easing in the U.S.,” Wallace Ng, executive director of commodities at ABN Amro Bank NV in Hong King, said today by phone. “Gold is now driven by investment demand” and purchases from jewelers and physical users particularly from India have been muted, he said.

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just had someone buy £250,000 worth of gold using the referal link from my site on BV (see sig). Comission I made: £100 I guess it was a repeat purchase as this seems a little low. Looks like the sheep are starting to wake up :)

 

If anyone wants to write article's / posts on the site below I'll split any future commisions. My lack of authority on the subject and knowlege are not helping my site however it does rank 3rd on google for "buy gold online"

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just had someone buy £250,000 worth of gold using the referal link from my site on BV (see sig). Comission I made: £100 I guess it was a repeat purchase as this seems a little low. Looks like the sheep are starting to wake up :)

Awesome! Straight into a gram of gold?

 

Great looking site!

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I'm sure the smackdown will be blamed on this.

 

State-Run China Securities Journal Says China May Hike Rates Over The Weekend

 

To all those who are considering buying the futures on the long-ago priced in news of the tax cut extension, we would like to caution that according to the state-run China Securities Journal (which is the same as prophet Jon Hilsenrath telling the great unwashed what the Printing God is about to do with near 99.9% accuracy), China may raise interest rates this weekend. Some additional color from Dow Jones: "Given the central bank set a precedent by raising interest rates right before the release of the consumer price index (previously), there's a 'sensitive policy window' before and after this weekend." If the hike is confirmed (and it is in line with our expectations, that China will hike first before it revalues the CNY any more) look for the greatest marginal credit bubble to promptly collapse, dragging down the US and EU with it, proving that all those who are preaching that Decoupling 2.0 is so different this time, are as always, merely Econ Ph.D.'s.

 

China announced an interest rate hike, the first in nearly two years, on the evening of Oct. 19, two days before the release of CPI data for September.

 

The front-page report also said the upcoming Central Economic Work Conference increases the chance of a rate hike soon. China's leading politicians will likely gather this weekend to discuss next year's economic policies, according to various state media reports.

 

Last Friday the Political Bureau of the Communist Party of China Central Committee, the highest decision-making body in China, said the government will shift to a "prudent" monetary policy next year from a "moderately loose" policy currently.

 

Economists widely expect Beijing to hike rates again before the end of the year, given surging prices.

 

The China Securities Journal report also said CPI may have picked up in November after increasing 4.4% in October from a year earlier; the October reading was a two-year high.

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Getting there. Bull market is still young. But beware the correction.

 

Looks like cgnao got it right again. Gold goes to £908 after cgnao predicts it in september 2009 and he then warns of a correction. The following day gold drops....

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Looks like cgnao got it right again. Gold goes to £908 after cgnao predicts it in september 2009 and he then warns of a correction. The following day gold drops....

 

Actually it was 907.33

 

xaugbpoz5dylg.png

 

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And do you have any thoughts as to how far the present pullback will go ?

Nice floor at $1400 in gold and $28.5 in silver for now. Let's see what the JPMorgue can achieve tomorrow. My Gold SIPP isn't through yet, so $950 gold would be getting a warm welcome over here. :)

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Nice floor at $1400 in gold and $28.5 in silver for now. Let's see what the JPMorgue can achieve tomorrow. My Gold SIPP isn't through yet, so $950 gold would be getting a warm welcome over here. :)

 

To be honest GF, $950 would leave me a little deflated temporarily.

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I'm sensing growing nervousness about a pull back on this thread. Time to bail?

 

Pullbacks come every year. Those of us with physical in our possession are used to it, accompanied as they generally are with stupidly sized annual increases.

 

GFs "wish" pullback would be bigger than any seen over the last 3 years so I'm not expecting it to happen. No disrespect GF (far from it) but you have to admit your $950 call is more of a wish (for enabling loading up) than anything else.

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Pullbacks come every year. Those of us with physical in our possession are used to it, accompanied as they generally are with stupidly sized annual increases.

 

GFs "wish" pullback would be bigger than any seen over the last 3 years so I'm not expecting it to happen. No disrespect GF (far from it) but you have to admit your $950 call is more of a wish (for enabling loading up) than anything else.

Surely GF's '950' is purely sarcastic. (at least that is what I have been taking it for). GF?

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I'm sensing growing nervousness about a pull back on this thread. Time to bail?

Nervousness does not bode well for the investor. All emotion needs to be taken out of it.

 

Recognizing the illusory nature of numbers helps with this task. ;)

 

For example, 950 once seemed expensive, now it seems cheap.

 

Edit: this $40 correction means less than a $40 correction 3 years ago; in terms of gold today, you'd have to distinguish between 2007 dollars and 2010 dollars.... ie, the dollar is worth a third less against gold now than it was a few years ago.

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Gold Breakout in Real Terms Means Good Times are Ahead for Gold Bulls

 

dec7edgoldrelative.JPG

 

We can see that Gold has already broken out against both Corporate and Treasury Bonds. The breakout against Corporates is very significant as it comes after a 2-year base. Meanwhile, Gold has just broken out against Currencies (ex- US Dollar) and a breakout against Stocks appears imminent. Commodities are the only group holding up against Gold.

 

---------------------------------------------------------

 

This may be good to see from a gold-holder's perspective, indicating that gold remains a more conservative (and possibly safer) asset than the commodities.

 

http://news.goldseek.com/GoldSeek/1291791900.php

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