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Oh Brave New World - that has such price moves in it !

 

GLD- Gold's etf / update

bigkd1.gif

 

Look at that volume- something was vanquished yesterday !

 

Apart from the short covering, you have people fleeing Money Funds,

some of which have now "broken a buck" - This is Gold's attraction in

a deflationary time (at least where there's a "whiff of deflation")-

The place of ultimate safety.

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I love the complicated arguments, (and the poster of that quote went on to recommend a long list of ETFs,) but for someone like me who doesn't understand gold fundamentals, it's not a total disaster, IMHO, DYOR.

 

You do not need to understand gold fundamentals.

 

Just understand that the financial world in unravelling... which is easy enough when it is slapping you in the face. :)

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Three Month Money Action Nothing Short of Astonishing

 

Author: Dan Norcini

 

If you look at the chart of 3 month money (see charts in PDF format), you can see that the yield has fallen almost to ZERO! Today, the yield closed at 0.3%.There has been such a wild rush into shorter dated securities that they no longer have any appreciable yield to speak of.

 

I believe this is one of the reasons gold is performing so strongly. Simply put - it is much more attractive as a safe haven play because investors have pushed yields on short term paper to the point of nothingness. With gold you get not only the age old safety and security that comes with a currency that has stood the test of time, you also get the opportunity for tremendous capital gains as well.

 

 

 

 

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Excuse me, Gentlemen. I have just returned home from a most enjoyable session at Sandy Bell's, looked at the gold price chart and it appears I need to change my underpants.

 

I only hope the senior partner in the business I manage followed my advice @ 09:30 and paid our working capital out of our BoS acct to each individual partner pro-tem.

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If anyone wants to sell their REAL physical gold or silver, I'm buying all that you have on offer

 

:lol: :lol: :lol:

 

 

I guess this is the time we've been waiting for. Lets hope we all survive it.

 

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Oh Brave New World - that has such price moves in it !

 

GLD- Gold's etf / update

bigkd1.gif

 

Look at that volume- something was vanquished yesterday !

 

Apart from the short covering, you have people fleeing Money Funds,

some of which have now "broken a buck" - This is Gold's attraction in

a deflationary time (at least where there's a "whiff of deflation")-

The place of ultimate safety.

 

Now that's a golden inflection point :D :D

 

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It's a two stage rocket !!!!

 

The second stage has just gone off !!!!!

 

Watch it go.......

 

$877.78

 

$878

 

Edited to add: $882.7 (12.26am)

 

Edited to add: $887.7 (12.28am) :blink:

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F ME! I avoided the 'puter late last night and this morning to concentrate on flight exams and it seems Gold has been doing all the flying!

 

I was only thinking yesterday that at least my NZ$ value of gold was getting back to around the price I paid for it. Ker ching today!

 

Well done all the holders, may I wish you many more days like this.

 

golden_eagle.jpg

 

EDIT:Let's hope the asian markets follow suit...

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Nice picture :D

 

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

 

Dear friends,

 

If you look at the chart of 3 month money (see charts in PDF format), you can see that the yield has fallen almost to ZERO! Today, the yield closed at 0.3%.There has been such a wild rush into shorter dated securities that they no longer have any appreciable yield to speak of.

 

I believe this is one of the reasons gold is performing so strongly. Simply put - it is much more attractive as a safe haven play because investors have pushed yields on short term paper to the point of nothingness. With gold you get not only the age old safety and security that comes with a currency that has stood the test of time, you also get the opportunity for tremendous capital gains as well.

 

Dan Norcini

 

http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=6682

 

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

 

Looking at the chart, one might expect some resistance somewhere around here.

 

Maybe. But maybe not !

 

I wouldn't want to be shorting gold right now :lol:

 

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I enjoyed today, it's been hard work keeping up with everyone's posts though, I'll live! Wow $100 in a day... Tomorrow is going to be a telling day.

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SORRY - I NEED TO CHANGE AND CLARIFY THIS....

 

I just noticed you referred to a "leveraged" silver ETC. That places it in the same category as the AIG backed commodities ETFs, but its still no cause for concern (for the reasons I gave)

 

To make 110% sure of all this, I've just come off the phone with Nigel Phelan from ETF Securities (one of their top guys)

 

The main points to come out of that discussion were:

 

- Now that AIG has been made stable (at least for a year or two) ETF Securities has been able to reach an agreement with the market makers such that normal trading will resume tomorrow morning

 

- That trading will be based upon the price of the underlying commodity or index, regardless of whatever pannick selling might take place

 

- Had AIG gone bust, investors would have lost all the money that was backed by AIG. ETF Securities is now restructuring the basis of their AIG backed ETFs such that the investor would not loose the money should AIG ever go bust in the future

 

- Nigel is one of the few people that has been privaledged enough to actually see the silver that DOES EXIST and which backs their unleveraged silver ETF.

 

- That silver belongs to the investors, and so even if the banks that stores it should go bust, then its value will be returned to the investors

 

 

EDIT: I wish to add how impressed I am with the professionalism of ETF Securities. They have had top people phone me back twice these last two days, and on each occasion given clear and complete answers to my various questions. Shame they can't be put in charge of the government :)

 

Great post bigtbigt, thanks.

 

I believe the custodian is HSBC in New York.

 

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What is the best way to invest in the miners? Can anyone recomend a few that trade on the LSE or maybe a good fund trading on the LSE?

 

Miners; Bubb is an expert, there is loads of stuff deeper in this site.

 

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Simply amazing day on the markets, quite a rush!

 

Looks like it hit 897 (dec 08) in Asia, I think a pull back to 850 would be ideal then we look to 900 proper.

 

:D

 

This kind of action only makes the Miners look like the bargain of a life time!

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IG Index OCT-08 spiked down to 846 while the markets were closed. Has anyone here ever seen that before (or more importantly been stopped out like this)?

 

Oh yes, many times.

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Treasury to provide cash to Fed market liquidity operations

By Greg Robb

Last update: 10:09 a.m. EDT Sept. 17, 2008

http://www.marketwatch.com/news/story/trea...p;dist=hplatest

 

WASHINGTON (MarketWatch) -- The Treasury Department announced Wednesday that it would provide cash to the Federal Reserve to fund the central bank's operations to provide liquidity to financial markets. In a statement, Treasury said that it would raise the cash in a program of Treasury bill auctions, known as a temporary Supplementary Financing Program.

 

comment:

buy gold. buy it as soon as possible. the tsunami is within sight.

 

protect yourself and GET GOLD IF YOU CAN FIND ANY!

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Somebody with very deep pockets is having a very big panic attack right now - have a look at these

http://bubblepedia.net.au/tiki-view_forum_...c&forumId=7

 

isn't it bizzarre that somebody would be willing to put an order in to sell those banks at 40% below yesterday's price.

 

:unsure:

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