GOLD

[sossij]

Not sure if any of these are really going to apply for the immediate short-term but I reckon when the reversal comes, it'll be with startling ferocity. I'm not selling one gram ! We shall prevail !

 

Heh heh, I'm quite looking forawrd to listening to Puplava this weekend - he'll have a lot of explaining to do

 

Not that I mind at all, how often have we wished for cheaper prices ... and here they are. If only I had bigger boots...

[romans holiday]

Wow, very interesting.

 

 

So is this one:

 

Warren Pollock

The Freezing *AUDIO*

 

Mr. Pollock explains that we are seeing a classic liquidity trap, freezing up the world markets. It's Deflationary and it's a disaster.

http://www.howestreet.com/audio/warrenpollock07082008.mp3

 

From: http://www.howestreet.com/audiovideo/index...mediaplayer/922

 

Whether or not you agree, it's an interesting listen, and includes "got gold?"

 

Yes, I agree with what he is saying. Whatever the flationary flavour, gold is good.

Bugs me to no end that quaint little phrase "credit crunch".... when you consider it is likely to morph into an economic earthquake [ice-storm ]

 

Edit: But I think the dollar will also be worth a shadow of its former self.

[cgnao]

Surely, this has to end sometime?? wow.

 

CHF 900-910

 

 

 

 

[wrongmove]

Yes, I agree with what he is saying. Whatever the flationary flavour, gold is good.

 

Let's face it. Gold up is good, gold down is good, gold sideways is good. True love indeed.

 

 

Bugs me to no end that quaint little phrase "credit crunch".... when you consider it is likely to morph into an economic earthquake.

 

Re the credit crunch. It has been public knowledge for a year now, even the so called "sheeple" have been talking about it for some time. Banks and builders valuations have had at least a chunk of the damage priced in. Mortgage spreads have risen, and LTVs reduced. Billions have been written off (i.e. accounted for). PMs rose strongly for the first 6 months, but have been generally sideways since.

 

The big question to me is how big is the chunk so far? And can we use an estimate of this to guess the implications for PMs. Also, PMs are still tracking commodities, it seems, or basically acting like a geared bet against the USDX. What will it take, and what sort of timescales, to see a massive change in things from here?

 

 

 

[wrongmove]

Surely, this has to end sometime?? wow.

 

CHF 900-910

 

So it's CHFs now?

 

They want to push gold back below $900 but they can't.

 

 

Sorry - couldn't resist. Won't happen again.

 

 

 

 

[kernull]

All I can say is, everyone who is in gold and silver should have some coins at hand. My advice also is, don't only get the old stuff, get some shiny brand new ones

 

and pack them in a oxygen-free, moisture-free bag, so it will stay as fresh as you bought it (specialy for silver)

[cgnao]

The situation is the following:

 

1) The US government is bankrupt

2) In collusion with the Federal Reserve, the US sovereign debt is being defaulted upon by USD debasement

3) Everybody knows it's unavoidable and is therefore shorting the USD

4) When the USD threatens to collapse, central banks around the world intervene and engineer a short squeeze in the USD and an avalanche of selling in commodity markets.

5) Leveraged speculators, including some hedge funds, get margin calls and must cover, hence amplifying the intervention.

 

When the short squeeze peters out the downtrend restarts in earnest unless the fundamentals have changed.

 

The USD fundamentals have actually worsened (think of the open-ended FRE/FNM bailout).

 

Weeks like this one are the reason why I (and I am not the only one) strongly discourage the use of margin.

[romans holiday]

Let's face it. Gold up is good, gold down is good, gold sideways is good. True love indeed.

 

Reason being the dollar will be an irrelevancy. True faith.

[cgnao]

Sorry - couldn't resist. Won't happen again.

 

June 2006:

 

They want to push gold below $600 but they can't.

 

They could, for a few weeks.

 

Look at it now.

 

[wrongmove]

Let's face it. Gold up is good, gold down is good, gold sideways is good. True love indeed.

 

This is not a comment on gold BTW.

 

 

You can be in love with a beautiful, witty, intelligent girl, or in love with a moaning, manipulative minger.

 

Either way, you will exagerate their good points and be blind to their bad points.

 

It's the love I am talking about, not the girl.

 

But it is why business and emotion don't mix well, in the opinion of many, including me.

 

 

 

[wrongmove]

June 2006:

 

They want to push gold below $600 but they can't.

 

They could, for a few weeks.

 

Look at it now.

 

Sorry cg. My post was meant to be toungue in cheek. No-one gets it right every time. 100% guarenteed.

 

 

Serious question though. What has changed to make the downward pressure so much stronger than you knew/guessed/whatever last week?

 

 

 

[cgnao]

Serious question though. What has changed to make the downward pressure so much stronger than you knew/guessed/whatever last week?

 

God knows which of the big ones was about to blow up and scared them into intervention.

 

Could be UBS, AIG or who knows.

[kernull]

BTW, Axstone from GIM has sold ALL his juniors. I wonder why. I really intend to buy some over the next few months. Rock bottom prices, etc.

 

i would supose that could happend because of money management issues, rather than related to mining stocks

[romans holiday]

This is not a comment on gold BTW.

 

 

You can be in love with a beautiful, witty, intelligent girl, or in love with a moaning, manipulative minger.

 

Either way, you will exagerate their good points and be blind to their bad points.

 

It's the love I am talking about, not the girl.

 

But it is why business and emotion don't mix well, in the opinion of many, including me.

I find your comment rather condescending. I, like many others on this site, have studied long and hard before putting my money where my mouth is. I have a view of the economy which I believe is coherent and have taken a position reflecting this. Of course, there is always a chance I may be wrong, there are no certainties in life, but I would rather use my own intelligence and be proactive rather than sit like some dumb deer in the headlights.

 

You should keep in mind, that many here have invested a lot of time and thought and funds into metals. On this thread, people are not seeking to debate with each other whether gold may or may not be a good postion to be invested in, but are rather looking to gain further insight and offer encouragement to a position already taken.

 

If you want to debate the virtues of gold, then, once again, why don't you open another thread on this topic?

[G0ldfinger]

This is not a comment on gold BTW.

 

 

You can be in love with a beautiful, witty, intelligent girl, or in love with a moaning, manipulative minger.

 

Either way, you will exagerate their good points and be blind to their bad points.

 

It's the love I am talking about, not the girl.

 

But it is why business and emotion don't mix well, in the opinion of many, including me.

I think the question here is: how good is your understanding of the fundamentals? And how firm is your belief in your personal investment decisions?

 

On a day like this you can divide the good ones from the bad ones.*

 

Today I could have saved $2/oz on my most recent silver purchase. Well, that's how this market works. If I knew better I'd be sipping champagne on the Virgin Islands right now. But my understanding/belief in the fundamentals tells me that this particular day today is mostly irrelevant.

 

That some people are more emotional about investment coins - I can understand that. In fact it can be good, because you consider longer before you dump them on a day like this. Personally, I am less emotional about GM and BV holdings. However, in the end, I know that all gold & silver I hold apart from my wedding band and my wife's jewellery is money and will be treated as such.

 

 

EDIT: *With 'one' I mean (long term) 'investor' here.

[G0ldfinger]

and pack them in a oxygen-free, moisture-free bag, so it will stay as fresh as you bought it (specialy for silver)

I am cruel with my bullion coins. I touch them, rubb them, and even let them clonk against each other. I am sort of having fun with them.

[bitbigt]

I find your comment rather condescending. I, like many others on this site, have studied long and hard before putting my money where my mouth is. I have a view of the economy which I believe is coherent and have taken a position reflecting this. Of course, there is always a chance I may be wrong, there are no certainties in life, but I would rather use my own intelligence and be proactive rather than sit like some dumb deer in the headlights.

 

You should keep in mind, that many here have invested a lot of time and thought and funds into metals. On this thread, people are not seeking to debate with each other whether gold may or may not be a good postion to be invested in, but are rather looking to gain further insight and offer encouragement to a position already taken.

 

If you want to debate the virtues of gold, then, once again, why don't you open another thread on this topic?

Hi Romans - I agree that many of us spend loads of (too much??) time reading, analysing, and debating - in order to make the most rational investments we can

 

...but little friendly digs from the likes of 'wrongmove' are no bad thing in reminding us to keep emotions out of it?

 

(S)He probably also sees the wisdom in owning gold

 

I suspect the market volatility may be getting to us all at the moment, and so now is precisely the time we must remain objective and focussed on the bigger reality!

[G0ldfinger]

...but little friendly digs from the likes of 'wrongmove' are no bad thing in reminding us to keep emotions out of it?

Some truth in that. The more your views get challenged, the better you will be able to understand them and argue for them in the end.

 

I am sort of missing cells and RB. But then, their arguments where sometimes brain-shrinkingly ridiculous and quite repetitive too.

[wrongmove]

I think the question here is: how good is your understanding of the fundamentals? And how firm is your belief in your personal investment decisions?

 

On a day like this you can divide the good ones from the bad ones.

 

Today I could have saved $2/oz on my most recent silver purchase. Well, that's how this market works. If I knew better I'd be sipping champagne on the Virgin Islands right now. But my understanding/belief in the fundamentals tells me that this particular day today is mostly irrelevant.

 

That some people are more emotional about investment coins - I can understand that. In fact it can be good, because you consider longer before you dump them on a day like this. Personally, I am less emotional about GM and BV holdings. However, in the end, I know that all gold & silver I hold apart from my wedding band and my wife's jewellery is money and will be treated as such.

 

Hi GF - no offense was meant in my post, and from the tone of yours, I am pleased to see that none seems to been taken.

 

I sometimes forget when I am sat at home, relaxed, with a smile on my face, that this doesn't always come across in text form. Face to face, it is easy to judge tone. I see from above I need to more careful perhaps on paper.

 

I was just trying to make a point about the amount of emotion that seems to be involved with PMs. I read and post on several assets, but the emotional content on PMs is even more than property, it seems. I know your 'core' reasons for investing because I have been reading your posts for a long time, but it is less obvious with newer posters, and less obvious to newer readers.

 

 

And I never even said if I thought gold was the nice one or the bad one! Almost certainly a complex blend of the two, IHMO!!

 

 

 

[romans holiday]

Hi Romans - I agree that many of us spend loads of (too much??) time reading, analysing, and debating - in order to make the most rational investments we can

 

...but little friendly digs from the likes of 'wrongmove' are no bad thing in reminding us to keep emotions out of it?

 

(S)He probably also sees the wisdom in owning gold

 

I suspect the market volatility may be getting to us all at the moment, and so now is precisely the time we must remain objective and focussed on the bigger reality!

Most decent people consider the love of money to be the root of all evil. Frankly, to be told you love money is offensive.

 

As for emotion; when I say "whether the gold goes up or down is irrelevant", I do so for rational not emotional reasons. Namely, for perfectly coherent reasons, I see the dollar in serious trouble.

[wrongmove]

Most decent people consider the love of money to be the root of all evil. Frankly, to be told you love money is offensive.

 

As for emotion; when I say "whether the gold goes up or down is irrelevant", I do so for rational not emotional reasons. Namely, for perfectly coherent reasons, I see the dollar in serious trouble.

 

Apologies RH. I was making a general point in what I thought was a light hearted and understandable way. I can't think why you considered my post to be aimed at you.

 

 

[bitbigt]

That some people are more emotional about investment coins...

I'm extremely emotional ...about my family and doing all I can to support them to give my kids a good future. That costs money!

 

So that's why I spend so much time reading and trying to be objective about my investment (plus as someone here said recently - we have a front row seat for an amazing show just now - so its damn interesting to follow it in detail).

 

But all of this is why I have NOT bought coins - I probably would fall in love with them, and that's dangerous

[G0ldfinger]

http://in.reuters.com/article/domesticNews...lBrandChannel=0

India gold supplies run short amid heavy sales

Fri Aug 8, 2008 5:45pm IST

...

MUMBAI, Aug 8 (Reuters) - India's precious metals trade is struggling to meet the heavy rush for gold and silver with prices below key psychological levels, resulting in higher premiums and late deliveries for buyers.

 

"The orders are getting fulfilled in 10 days," said a dealer in one of the largest banks selling gold.

 

"The premiums being quoted by suppliers are up by 10 cents to about 95 cents."

 

India's gold demand picked up last week, as prices started tumbling, touching its lowest level since mid-May at 11,883 rupees per 10 grams MAUc1 on Friday. Demand intensified as a key support of 12,000 rupees per 10 grams gave way, raising even retail demand that usually does not pick up till the festivals start around mid-August.

 

A foreign supplier said summer holidays in Europe and a sudden pick up in demand world-wide had affected smooth deliveries.

"The demand started out of the blue," said Afshin Nabavi, senior vice president at MKS Finance S.A., a large supplier to India, based in Geneva.

 

"With the holidays it is difficult to meet all the demand."

 

A wholesaler in Kolkata said demand for silver had also picked up, with several banks short of ready supplies.

[drbubb]

KEY LEVEL : GLD-$84.00 as Olympic Torch is lit !

 

Have a look at this chart: update

 

GLD is right on the 252d.MA ! at GLD-$84.00

[Pixel8r]

KEY LEVEL : GLD-$84.00 as Olympic Torch is lit!

 

GLD is right on the 252d.MA ! at GLD-$84.00

 

Do you think the Gold seasonal August low is now in?