Jump to content

Recommended Posts

Faber's strength is his grasp of market history and willingness to call out people who are being stupid, I think. I subscribe to his GBD report, and while I don't necessarily get a lot of interesting actionable trades out of it I do like his overall analysis and the guest articles. His book (Tomorrow's Gold) is cheaper and definitely worth a read.

Share this post


Link to post
Share on other sites
Bubb, I have no mining shares yet, only physical. I was thinking about opening an ISA and buying mining shares through it. How restricted would I be because of it being an ISA? I don't know much about it, any links on GEI on this topic? I mean, I listen to FSN/CWR etc. and hear about all these good stocks (with good potential), but could I actually buy them here in the UK through an ISA? Cheers, GF.

 

Unfortunately you cannot hold AIM stocks in an ISA

 

From the HM Revenue & Customs website:

 

"Qualifying investments – shares listed on AIM

We have been asked whether shares officially listed on both the Alternative Investment Market (AIM) and another stock exchange are qualifying investments for PEPs and the ISA stocks and shares component. The general rule is that a share is a qualifying investment for PEPs and the ISA stocks and shares component if it is officially listed on a recognised stock exchange and (if acquired after 6 October 2005), the 5% test is satisfied. The AIM is not a Recognised Stock Exchange, therefore shares that are officially listed only on AIM are not qualifying investments for PEPs and the ISA stocks and shares component. However, shares that are officially listed on AIM and are also officially listed on a another stock exchange that is a Recognised Stock Exchange are qualifying investments for PEPs and the ISA stocks and shares component."

 

 

However, you can, I believe, put AIM stocks into a SIPP

 

There are funds available, which I've got, such as M&G "Gold & General", Investec "Global Gold" or CF Ruffer Baker Steel Gold (juniors), which are ISA compliant.

 

Not sure about the ISA rules for individual stocks on foreign exchanges.

Share this post


Link to post
Share on other sites
My best guess* is that gold runs up to $1050-1100 before falling back to maybe $930

 

= =

 

But in the meantime, I would guess* that Gold may need to make a double bottom below $970,

before running up throw $1,000

 

*"Guess" is the right word for these forecasts of mine

Thanks for the reply and the great site. I've started to have a look around at what else is here. Bit depressing reading about the potential demise of the US as I love the place and have family there. Let's hope it doesn't get dire.

 

From these levels then you don't look like you expect a huge drop to the downside which is what I've been thinking.

Share this post


Link to post
Share on other sites

Gold approaching $1000 makes the UK mainstream press twice today from what I can see (below). I expected more coverage.

 

But in both cases, the UK press use the upcoming $1000 marker as a way of attacking PM Brown for selling UK’s gold kitty a few years ago on the cheap. No mention of gold as an investment opportunity.

 

IMHO $1000 may unavoidably start the media attention phase of the idealized bubble psychology graph. But if newspapers use the $1000 mark as a means of commentating on the state of the economy, rather than touting precious metals as an investment opportunity, then perhaps gold/silver can stay clear of the public enthusiasm phase.

 

As long as Joe Public see gold/silver as something exclusively to do with bullion dealers and governments, the public enthusiasm stage will not start IMHO. When there are articles in the main sections of papers telling the public how and where to buy, and giving case studies of successful investors (common with property investment for years) it’s a different matter.

 

 

Brown’s gold sale ‘lost £4bn’

Daily Mail page 19

GORDON BROWN’S sale of more than half the country’s gold reserves at rock-bottom prices has cost every taxpayer £100, it was claimed last night. The controversial sales happened between 1999 and 2002, when Mr Brown was Chancellor. The price of bullion...

 

Forget prudence, let’s go for a big bang in education

The Herald page 15

GORDON Brown’s decision, when he was Chancellor, to sell more than half of Britain’s gold reserves was a calamitous misjudgment. The sale was not in itself irrational. The price of gold had been falling for nearly 20 years. What was catastrophic was...

Share this post


Link to post
Share on other sites
Bubb, I have no mining shares yet, only physical. I was thinking about opening an ISA and buying mining shares through it. How restricted would I be because of it being an ISA? I don't know much about it, any links on GEI on this topic? I mean, I listen to FSN/CWR etc. and hear about all these good stocks (with good potential), but could I actually buy them here in the UK through an ISA? Cheers, GF.

 

I mostly buy shares in Canada, where the bid/offer dynamics make sense,

For cheaper shares on the AIM market, it is often only the Market Makers who make money on the first

15-20% of any move, which is way too much to give away.

 

Can you get set up to trade in Canada?

Share this post


Link to post
Share on other sites
Faber's strength is his grasp of market history and willingness to call out people who are being stupid, I think. I subscribe to his GBD report, and while I don't necessarily get a lot of interesting actionable trades out of it I do like his overall analysis and the guest articles. His book (Tomorrow's Gold) is cheaper and definitely worth a read.

 

I agree.

I have the book and its an excellent read.

You should also do a Google search on "Riverside Conversations" and listen to his great chats with Jim Rogers, etc.

Share this post


Link to post
Share on other sites
Thanks for the reply and the great site. I've started to have a look around at what else is here. Bit depressing reading about the potential demise of the US as I love the place and have family there. Let's hope it doesn't get dire.

 

From these levels then you don't look like you expect a huge drop to the downside which is what I've been thinking.

 

Another possible important support level would be the 1980 high near $850

Share this post


Link to post
Share on other sites

Someone found another bathtub (possibly in an empty, repossessed house?) and threw it at gold. :)

Share this post


Link to post
Share on other sites

I get the feeling the US equity market wants to crash hard - but it is being supported by the PPT. If I'm right, then I'm not sure they will be able to keep it going until the elections.

Share this post


Link to post
Share on other sites

I posted this on my HPC thread (#149):

From here, I am expecting...

Q:

How far do you think the rally will cross over $1K and where might it drop back to ?

 

A:

My best guess* is that gold runs up to $1050-1100 before falling back to maybe $930

 

But in the meantime, I would guess* that Gold may need to make a double bottom below $970,

(and GLD below $96 ) before running up through $1,000 / GLD-$100

 

*"Guess" is the right word for these forecasts of mine

 

= =

 

There's been record interest in g's new Gold thread, with many new posters checking in,

for those who like that sort of topic.

UNQUOTE

 

I WONDER how many will get the hint??

Share this post


Link to post
Share on other sites

HI -I'm a Refugee from HPC since it decided to cut its own head off. Just wanted to ask Dr Bubb or any one else, whether are there any other good downloadable radio programs apart from the Financial sense news hour or Commodities Watch radio for insight into gold and other markets? Many thanks.

Share this post


Link to post
Share on other sites
The 1,000 barrier will be interesting to see breached. The media coverage will be huge, one thing is for sure it isn't going to bobble around 1,000 for too long. It is going to be another major leg up, or as oil did, a 10-20% correction.

 

Interesting times for sure.

 

 

my feeling is that they longer the ppt suppress the price gold is building a head of steam like a geyser and once through 1000 (or as jim says, 1024) i think it will steamroller through - for all those taking profits there will be new buyers alerted by media articles and wanting to get on the locomotive express...

Share this post


Link to post
Share on other sites
HI -I'm a Refugee from HPC since it decided to cut its own head off. Just wanted to ask Dr Bubb or any one else, whether are there any other good downloadable radio programs apart from the Financial sense news hour or Commodities Watch radio for insight into gold and other markets? Many thanks.

 

Sure, visit:

http://www.Goldseek.com , or http://www.HoweStreet.com , or http://www.KEreport.com

 

And dont be afraid to suggest future guests for CW Radio on the appropriate thread

Share this post


Link to post
Share on other sites
Below $970 again. I'm going to buy some here. Wish me luck.

Good luck! Silver getting hammered even harder so I've added a sprinkling.

 

Anything in the news to suggest a reason for this? Or just the cartel/market having a shake-out?

 

To be honest, this sort of behaviour just seems par for the course with Ag/Au.

Share this post


Link to post
Share on other sites
Like all good seeds they take a while to flourish. This site is positioning itself well for when the masses realise that ALT energy and commodities are the world's future.

 

 

well said!

Share this post


Link to post
Share on other sites
Good luck! Silver getting hammered even harder so I've added a sprinkling.

 

Anything in the news to suggest a reason for this? Or just the cartel/market having a shake-out?

 

To be honest, this sort of behaviour just seems par for the course with Ag/Au.

 

 

I don't think it's anything specific, just pre-$1000 nerves and premature profit taking. Let's face it, no-one wants to get stung by the 'big one' if gold sells off at $1000.

 

The good thing is that a lot will have sold out or stayed out today, which allows more fuel for the run up when it eventually does come. As far as I'm concerned, the longer we take to get to $1000, the more likely we are to hold it.

 

Anyway, it could be worse, look at the dollar! :)

Share this post


Link to post
Share on other sites
Unfortunately you cannot hold AIM stocks in an ISA

...

Not sure about the ISA rules for individual stocks on foreign exchanges.

 

I mostly buy shares in Canada, where the bid/offer dynamics make sense,

For cheaper shares on the AIM market, it is often only the Market Makers who make money on the first

15-20% of any move, which is way too much to give away.

 

Can you get set up to trade in Canada?

Thanks for the input. Maybe I should forget about ISA and just bite the CGT-bullet.

Share this post


Link to post
Share on other sites

As an aside, I think these $20 - $30 swings are going to become the norm from here on in.

 

It could make big money for those who play it right. Needless to say, I'm not going to be one of them, trading this is now a bit too risky for me.

 

I'm going to stick with buy (on weakness) and hold.

Share this post


Link to post
Share on other sites
HI -I'm a Refugee from HPC since it decided to cut its own head off. Just wanted to ask Dr Bubb or any one else, whether are there any other good downloadable radio programs apart from the Financial sense news hour or Commodities Watch radio for insight into gold and other markets? Many thanks.

 

www.goldseek.com has an interesting saturday broadcast.

Share this post


Link to post
Share on other sites
I don't think it's anything specific, just pre-$1000 nerves and premature profit taking. Let's face it, no-one wants to get stung by the 'big one' if gold sells off at $1000.

 

The good thing is that a lot will have sold out or stayed out today, which allows more fuel for the run up when it eventually does come. As far as I'm concerned, the longer we take to get to $1000, the more likely we are to hold it.

 

Anyway, it could be worse, look at the dollar! :)

 

Yeah, I think traders saw what happened to oil when it got to 100 so they are selling ahead. Fundamentals are still in tact as today (like most days) the dollar is getting hammered.

Share this post


Link to post
Share on other sites

Boy am I glad I've found this site.

 

Goldfinger - thanks for the link from your http://goldismoney.info/forums/showthread.php?t=195370 posting.

 

I've been in cold turkey for a few days now - but the fix feeeeels goooooood!!!

 

Double bonus DrBubb is on this thread as well

 

Keep up the good work guys :)

 

BTW - any comments on this article http://goldnews.bullionvault.com/gold_doll...dence_030320082

 

Do we really think gold can hit $5000?

 

It really pains me to think that if I get that kind of gain I have to hand a substantial slice of it to the chancellor - what a con! My risk his gain - how does that work?

Share this post


Link to post
Share on other sites
Boy am I glad I've found this site.

 

Goldfinger - thanks for the link from your http://goldismoney.info/forums/showthread.php?t=195370 posting.

 

I've been in cold turkey for a few days now - but the fix feeeeels goooooood!!!

 

Double bonus DrBubb is on this thread as well

 

Keep up the good work guys :)

 

BTW - any comments on this article http://goldnews.bullionvault.com/gold_doll...dence_030320082

 

Do we really think gold can hit $5000?

 

The estimates are all over the place. However, if we refer back to history you will see that gold went from $35 to $850 in the 70s. That is what 22X. So, lets say we had a similar run from $250. $250 X 22 = $5,500.

 

Of course this time we could go 50X, depending on political events.

 

 

It really pains me to think that if I get that kind of gain I have to hand a substantial slice of it to the chancellor - what a con! My risk his gain - how does that work?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×