whoops_apocalypse Posted March 5, 2008 Report Share Posted March 5, 2008 Ooops.http://www.bloomberg.com/apps/news?pid=206...&refer=home Ambac Trading Halted Pending Statement, NYSE Says (Update1) By Christine Richard March 5 (Bloomberg) -- Ambac Financial Group Inc., the bond insurer facing a crippling credit-rating downgrade, had its shares halted pending an announcement, according to the New York Stock Exchange. Um, interesting... Bailout or downgrade, I wonder? Link to comment Share on other sites More sharing options...
Pluto Posted March 5, 2008 Report Share Posted March 5, 2008 Ooops.http://www.bloomberg.com/apps/news?pid=206...&refer=home Ooops. http://www.bloomberg.com/apps/news?pid=206...&refer=home AMBAC .... DEAL OR NO DEAL? That is what the market wants to know. Link to comment Share on other sites More sharing options...
Pluto Posted March 5, 2008 Report Share Posted March 5, 2008 CNBC are a total joke. They should be a comedy channel or fiction. Monday - BUY GOLD Tuesday - SELL GOLD Wednesday - BUY GOLD No wonder Americans walk around in a daze most of the time. Link to comment Share on other sites More sharing options...
Billy Posted March 5, 2008 Report Share Posted March 5, 2008 1000 - maybe maybe? Link to comment Share on other sites More sharing options...
Pluto Posted March 5, 2008 Report Share Posted March 5, 2008 I can almost reach and touch a 1,000.... Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 5, 2008 Author Report Share Posted March 5, 2008 I can almost reach and touch a 1,000.... The battle is on. Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 5, 2008 Report Share Posted March 5, 2008 CNBC are a total joke. They should be a comedy channel or fiction. Monday - BUY GOLD Tuesday - SELL GOLD Wednesday - BUY GOLD No wonder Americans walk around in a daze most of the time. As they like to say over on the Kitco forum, "Don't let them cheat you out of your cheap gold and silver!" I'm sure CNBC are just helping out the pro traders... Link to comment Share on other sites More sharing options...
marceau Posted March 5, 2008 Report Share Posted March 5, 2008 I have my own theory on Juniors, and that is they rely on capital markets for money (which is tight) and use a lot of energy prospecting (oil) which is expensive. The juniors best chance, and investors to, is a buying from one of the majors like Goldcorp, Barrick, or Newmont. Bubb is an expert on Juniors and mining, so when he gets back hopefully he can weigh in. That is if he is isn't mad at us for setting up shop over here. I agree Pluto, the impact of higher oil prices and capital costs are hampering the prospects of the junior miners. There is a thread on this very subject in the Mining section of this site. However, I think $1000 will really kick the juniors into action. I also own some Royal Gold (RGLD) and the Silver Wheaton (SLW), both of which have very few issues with cash or production costs due to the way they derive their income. It is in these that I am hoping to see some big upwards moves over the next few weeks due to short covering. There is a thread on RGLD in the mining section with some excellent analysis by Dr Bubb and others (admittedly, I mostly use it to moan about RGLD failing to keep up with the gold price). Link to comment Share on other sites More sharing options...
Billy Posted March 5, 2008 Report Share Posted March 5, 2008 989 to > 992 in 5 mins Link to comment Share on other sites More sharing options...
Pluto Posted March 5, 2008 Report Share Posted March 5, 2008 The battle is on. OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. Link to comment Share on other sites More sharing options...
Billy Posted March 5, 2008 Report Share Posted March 5, 2008 OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. could go either way but my gut sez it will try to run i listen closely to what sinclair sez, the battle will be for 1050 Link to comment Share on other sites More sharing options...
marceau Posted March 5, 2008 Report Share Posted March 5, 2008 OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. I think it's going through. I would have doubted it more had it not been for yesterday's sell off, but that will have suckered so many into going short or staying out that there are still a lot of buyers out there. I vote for $1100 before any significant pullback. Link to comment Share on other sites More sharing options...
Jacko Posted March 5, 2008 Report Share Posted March 5, 2008 OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. Oh I think we'd all love to know that one Pluto old boy Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 5, 2008 Report Share Posted March 5, 2008 OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. FWIW and barring any black swans (eg. AMBAC downgrade, etc.) in the interim, I reckon the POG will bobble up and down $50 either side of the $1000 mark for a bit before progressing higher to the $1050 to $1170 range... Link to comment Share on other sites More sharing options...
Pluto Posted March 5, 2008 Report Share Posted March 5, 2008 FWIW and barring any black swans (eg. AMBAC downgrade, etc.) in the interim, I reckon the POG will bobble up and down $50 either side of the $1000 mark for a bit before progressing higher to the $1050 to $1170 range... I wonder if the BBC will report it on the main news if Gold does breach 1,000. Surely they'll be able to sandwich it in between the dire news of the banks, houses, jobs, higher petrol prices and general inflation. Of course, if there is any news on Maddie all these issues will get pushed to one side. Priorities my boy... Link to comment Share on other sites More sharing options...
marceau Posted March 5, 2008 Report Share Posted March 5, 2008 I wonder if the BBC will report it on the main news if Gold does breach 1,000. Surely they'll be able to sandwich it in between the dire news of the banks, houses, jobs, higher petrol prices and general inflation. Of course, if there is any news on Maddie all these issues will get pushed to one side. Priorities my boy... Don't forget Diana. Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 5, 2008 Report Share Posted March 5, 2008 I wonder if the BBC will report it on the main news if Gold does breach 1,000. Surely they'll be able to sandwich it in between the dire news of the banks, houses, jobs, higher petrol prices and general inflation. Of course, if there is any news on Maddie all these issues will get pushed to one side. Priorities my boy... Well, I distinctly recall them making a big splash of gold trading above $600 back in the spring of 2006 and then the price peaked at around $730. If they choose to repeat the exercise on this occasion, and I see no reason why they wouldn't, then the $1170 target looks like a great contrarian indicator to me. Obviously, we'll have to study things a lot closer when the time comes... Link to comment Share on other sites More sharing options...
Tahoma Posted March 5, 2008 Report Share Posted March 5, 2008 Late to the party today, but su-PERB. We could hit $1000 any minute - nice work on the thread GF/GEI folk. Link to comment Share on other sites More sharing options...
Jacko Posted March 5, 2008 Report Share Posted March 5, 2008 Late to the party today, but su-PERB. We could hit $1000 any minute - nice work on the thread GF/GEI folk. IF......WE......CAN.....JUST.........KEEEP...........GOING..............Arrrrrgg ggg! Link to comment Share on other sites More sharing options...
marceau Posted March 5, 2008 Report Share Posted March 5, 2008 Posted in tribute to todays action. Take that cartel! Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 5, 2008 Report Share Posted March 5, 2008 I wonder if the BBC will report it on the main news if Gold does breach 1,000. Surely they'll be able to sandwich it in between the dire news of the banks, houses, jobs, higher petrol prices and general inflation. Of course, if there is any news on Maddie all these issues will get pushed to one side. Priorities my boy... The thing is, even if they do report this, and it gets into the papers (esp. tabloids), would Joe Public know the significance? They'll know about mortgages, sub-prime, price of oil etc., but if they see stories about the price of gold, do they interpret this as an "investment" opportunity (bear in mind a fairly high percentage might only be familiar to high street savings accounts and the concept of getting interest on their money), or are they just going to gather together anything they might have of value to try and sell it to make some money to pay off their debts? What happened before when this became news worthy? Link to comment Share on other sites More sharing options...
Jacko Posted March 5, 2008 Report Share Posted March 5, 2008 The thing is, even if they do report this, and it gets into the papers (esp. tabloids), would Joe Public know the significance? They'll know about mortgages, sub-prime, price of oil etc., but if they see stories about the price of gold, do they interpret this as an "investment" opportunity (bear in mind a fairly high percentage might only be familiar to high street savings accounts and the concept of getting interest on their money), or are they just going to gather together anything they might have of value to try and sell it to make some money to pay off their debts? What happened before when this became news worthy? IMO When it hits the news big time we're into phase two. We're still only at the beginning. Now where's that speculative bubble chart knocking around? Link to comment Share on other sites More sharing options...
kwheelock Posted March 5, 2008 Report Share Posted March 5, 2008 Back to HPC I posted on a silver revival thread by Fortune saying whats the point and mentioning this site. Looks like I'm barred over there now after about a dozen posts in total! Link to comment Share on other sites More sharing options...
Jacko Posted March 5, 2008 Report Share Posted March 5, 2008 Back to HPC I posted on a silver revival thread by Fortune saying whats the point and mentioning this site. Looks like I'm barred over there now after about a dozen posts in total! *Italian Accent* Hey forget about it, They're Fugazees anyway! Link to comment Share on other sites More sharing options...
Methinkshe Posted March 5, 2008 Report Share Posted March 5, 2008 OK here is the question. Does gold retreat to the 800s like oil did when it breached 100 (oil went back to 88)? Or does it hit every newspaper and news show around the world and quickly run-off to 1,200? That's a tough one.. Okay, the following is my very naive and simple deduction. How many gold investors believe gold is just another commodity and how many believe it is a safe haven? From what I can gather just by listening,looking and learning, those that believe that gold is just another commodity are still in the majority. Therefore I would expect gold to track oil for a little longer, altough I would expect a divergence from parallel as those who buy into gold as a safe haven gradually tip the scales and begin to outnumber those who view it as just another commodity. Meanwhile, one has also to contend with the speculators who have piled into gold as a commodity and double guess their actions. Personally I think there COULD (and that's a very big could) be a retracement back to $850 but that could be more wishful thinking than anything else. That apart, the sky's the limit. You will note that I have excluded all market manipulators and expert gold traders from my naive prognosis. That is because I am old enough to realise that so-called experts are not the gods I once supposed them to be, they are just other human beings more or less like me and those whom I socialise with and their individual and therefore collective expertise is probably not any greater than mine and my cohort of friends and acquaintances. I've long since stopped believing in the expert in any field of endeavour, save, perhaps, brain surgery which does require a certain amount more delicacy than the average butcher. Link to comment Share on other sites More sharing options...
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