Steve Netwriter Posted December 11, 2008 Report Share Posted December 11, 2008 It's a shame this doesn't show the UK, where the gold and silver rockets have long since gone. Those wanting to escape now will have to pay extra for the privelage. I'm not sure I could fit all the collapsing currencies on it I should really have put a Yen rocket on it too Edited to add: This is quite something to see. Like watching a slow motion train wreck. Link to comment Share on other sites More sharing options...
marceau Posted December 11, 2008 Report Share Posted December 11, 2008 Also the USDX has just broken it's 50 day MA. This is the first time this has happened since the bounce. Technically I would say gold will now grind its way up to a test at $900. If that suceeds then there won't be a rocket big enough to cover what happens next. If it fails then it's back to the lows (or worse). I'm tempted to trade the journey up to $900, standard setup, wait for the NY / London fix smackdowns and buy, sell the next morning before NY opens. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted December 11, 2008 Report Share Posted December 11, 2008 Also the USDX has just broken it's 50 day MA. This is the first time this has happened since the bounce. Since that's mainly US$ versus Euro it would. I must go to bed. It's 2:15am. As usual I miss all the action It'll be interesting to see what's happened by the morning. Night all Link to comment Share on other sites More sharing options...
marceau Posted December 11, 2008 Report Share Posted December 11, 2008 Since that's mainly US$ versus Euro it would. I must go to bed. It's 2:15am. As usual I miss all the action It'll be interesting to see what's happened by the morning. Night all 2:15 Have a good sleep, I don't think even the NY halfwits will want to get in the way of this one. Link to comment Share on other sites More sharing options...
tazer Posted December 11, 2008 Report Share Posted December 11, 2008 Interest note on Marketoracle... Item 6 : Even allocated and segregated metal account gold is not safe. The temptation on the account providers to default will be irresistible. They are not going to release the gold until expressly ordered by the courts, and will make sure that no gold will be left by then. From: http://www.marketoracle.co.uk/Article7722.html Anyone else worried about GM? Yup. bit worried. I suppose if one had the money one could buy directly from the MATT people in Zürich ? Anyone done that? Link to comment Share on other sites More sharing options...
Pixel8r Posted December 11, 2008 Report Share Posted December 11, 2008 Interest note on Marketoracle... Item 6 : Even allocated and segregated metal account gold is not safe. The temptation on the account providers to default will be irresistible. They are not going to release the gold until expressly ordered by the courts, and will make sure that no gold will be left by then. From: http://www.marketoracle.co.uk/Article7722.html Anyone else worried about GM? I have emailed James Turk this to ask for his comments. Will post his response when it comes. Link to comment Share on other sites More sharing options...
Wigler Posted December 11, 2008 Report Share Posted December 11, 2008 Hey guys, My parents sold their house to rent in 2006 and have some of their saving in Euro's but the majority in £'s. I'm really concerned that their savings are being eroded away. Do you think it's still worth trying to get them to put 10% of their money into gold? Link to comment Share on other sites More sharing options...
FWIW Posted December 11, 2008 Report Share Posted December 11, 2008 I have emailed James Turk this to ask for his comments. Will post his response when it comes. That's a bit like asking boss of Northern Rock if everything is ok... I do like James Turk though - but not that much... Keep it real, keep it physical! Link to comment Share on other sites More sharing options...
FWIW Posted December 11, 2008 Report Share Posted December 11, 2008 Hey guys, My parents sold their house to rent in 2006 and have some of their saving in Euro's but the majority in £'s. I'm really concerned that their savings are being eroded away. Do you think it's still worth trying to get them to put 10% of their money into gold? Yes - think of it as inheritance tax planning. Link to comment Share on other sites More sharing options...
Mr Pipples Posted December 11, 2008 Report Share Posted December 11, 2008 Yup. bit worried. I suppose if one had the money one could buy directly from the MATT people in Zürich ? Anyone done that? VIA MAT, Lon' don't sell direct. EDIT: Silver - that is... Didn't ask about (400oz) gold! Link to comment Share on other sites More sharing options...
romans holiday Posted December 11, 2008 Report Share Posted December 11, 2008 After it's gravity defying straight up in the air titanic act, is the dollar finally starting to submerge? Dollar index down to 84 now. Link to comment Share on other sites More sharing options...
sash777 Posted December 11, 2008 Report Share Posted December 11, 2008 Hey guys, My parents sold their house to rent in 2006 and have some of their saving in Euro's but the majority in £'s. I'm really concerned that their savings are being eroded away. Do you think it's still worth trying to get them to put 10% of their money into gold? Absolutely, things will only get worse for the medium-term and if they are in £ they are right in the firing line. I would look at more than 10% depending on how far off retirement they are. Link to comment Share on other sites More sharing options...
Mr Pipples Posted December 11, 2008 Report Share Posted December 11, 2008 Geez... For once, I thought I'd do the 'sensible thing' and spread my buys over a few weeks... Bloody wish I'd just put it all in at £510 last week now! I hate trying to time buys! We should get another decent slapdown soon though, aye? Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 11, 2008 Report Share Posted December 11, 2008 Geez... For once, I thought I'd do the 'sensible thing' and spread my buys over a few weeks... Bloody wish I'd just put it all in at £510 last week now! I hate trying to time buys! We should get another decent slapdown soon though, aye? they are running out of slapdowns imho. Link to comment Share on other sites More sharing options...
romans holiday Posted December 11, 2008 Report Share Posted December 11, 2008 Hey guys, My parents sold their house to rent in 2006 and have some of their saving in Euro's but the majority in £'s. I'm really concerned that their savings are being eroded away. Do you think it's still worth trying to get them to put 10% of their money into gold? I worry about my own parents humble savings. I will be back there on holiday shortly but can imagine it might be difficult to persuade them to put a portion into gold as the price in NZ dollars is now 1,500. Hmmm... maybe I will be able to sell them on some silver instead. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted December 11, 2008 Report Share Posted December 11, 2008 I worry about my own parents humble savings. I will be back there on holiday shortly but can imagine it might be difficult to persuade them to put a portion into gold as the price in NZ dollars is now 1,500. Hmmm... maybe I will be able to sell them on some silver instead. I am in a similar situation regarding my parents savings, they have a reasonable cash stash........fooken idiots have it all with various banks though (they have lost a fortune on shares also) A lifetimes savings will be all but wasted. The cause: pure ignorance I warned them continously every month for the last 1-2 years, the warnings varied in urgency obviously. Link to comment Share on other sites More sharing options...
HPCSucks Posted December 11, 2008 Report Share Posted December 11, 2008 I am in a similar situation regarding my parents savings, they have a reasonable cash stash........fooken idiots have it all with various banks though (they have lost a fortune on shares also) A lifetimes savings will be all but wasted. The cause: pure ignorance I warned them continously every month for the last 1-2 years, the warnings varied in urgency obviously. It is their money. They are free to do with it as they wish. Link to comment Share on other sites More sharing options...
romans holiday Posted December 11, 2008 Report Share Posted December 11, 2008 Wow! Platinum is now cheaper than gold! Platinum: 824 imo platinum will continue to get cheaper in comparison to gold. Link to comment Share on other sites More sharing options...
Pixel8r Posted December 11, 2008 Report Share Posted December 11, 2008 Gold & Silver miners are really bouncing today. Yamana + 17.24% Silver Wheaton + 18.07% Jinshan + 20.41% Hocschild + 10.66% Royal Gold + 4.53% Link to comment Share on other sites More sharing options...
allyjcambo Posted December 11, 2008 Report Share Posted December 11, 2008 I am in a similar situation regarding my parents savings, they have a reasonable cash stash........fooken idiots have it all with various banks though (they have lost a fortune on shares also) A lifetimes savings will be all but wasted. The cause: pure ignorance I warned them continously every month for the last 1-2 years, the warnings varied in urgency obviously. Me too, GOM. My father in particular will not listen. He’s just retired and has decent cash savings. Like your folks he has spread these around various banks which of course completely misses the point of what I keep trying to tell him: forget about the £50,000 guarantee, you’ll get all your money back but it will (has already) lost a huge part of its purchasing power. That said, as HPC Sucks says, it’s his money and he’s free to do what he wants. I have said to him that if he’s not interested in gold or other sterling hedges then he can at least spend it while it is still worth something. He’s of a thrifty Scottish background and so is reluctant to spend but when I suggested that he would be supporting his community by using local business that seemed to appeal to him. Times like these really bring home how disastrous Labour has been for our economy. Irrespective of whether or not inflation takes hold it is guys like my Dad who have worked hard and saved all their life who stand to lose the most. Either we have rampant inflation and/or the GBP continues its descent. Either way, the money sitting in the bank is losing value by the day. If I recommended to him a share whose prospects were a fall in capital value together with a falling (soon to be zero) dividend (i.e. interest rate) he’d tell me to get lost. And yet he continues with the pound. Clearly I need to try harder! Gold still seems like an exotic speculative investment to him when to most here on GEI it is the opposite. Link to comment Share on other sites More sharing options...
fexx Posted December 11, 2008 Report Share Posted December 11, 2008 Wow! Platinum is now cheaper than gold! Platinum: 824 imo platinum will continue to get cheaper in comparison to gold. It's looking positively cheap now, anyone got any sterling left to buy some???? http://www.atsbullion.com/Platinum-Coins-p-1-c-24.html Link to comment Share on other sites More sharing options...
romans holiday Posted December 11, 2008 Report Share Posted December 11, 2008 Gold & Silver miners are really bouncing today. Yamana + 17.24% Silver Wheaton + 18.07% Jinshan + 20.41% Hocschild + 10.66% Royal Gold + 4.53% Yep, I can see them making a mad dash out of the gates sooner or later... I am hoping to buy the first two next month. Only interested in producers given the harsh macro environment. Couldn't believe my ears when I heard Rio Tinto scrapped 14,000 jobs today. Link to comment Share on other sites More sharing options...
Pixel8r Posted December 11, 2008 Report Share Posted December 11, 2008 Yep, I can see them making a mad dash out of the gates sooner or later... I am hoping to buy the first two next month. Only interested in producers given the harsh macro environment. Couldn't believe my ears when I heard Rio Tinto scrapped 14,000 jobs today. They have a long way to get back, after the mad selling that has been happening. I bought most of those last week in my ISA. I agree AUY and SLW have the most to recover. Link to comment Share on other sites More sharing options...
alexays Posted December 11, 2008 Report Share Posted December 11, 2008 Gold & Silver miners are really bouncing today. Yamana + 17.24% Silver Wheaton + 18.07% Jinshan + 20.41% Hocschild + 10.66% Royal Gold + 4.53% Not my tiddler though - Allied Gold + .5%. Gold near all time UK high price and Allied about 70% down from its highs. Its a bargain.... Link to comment Share on other sites More sharing options...
Pixel8r Posted December 11, 2008 Report Share Posted December 11, 2008 Interest note on Marketoracle... Item 6 : Even allocated and segregated metal account gold is not safe. The temptation on the account providers to default will be irresistible. They are not going to release the gold until expressly ordered by the courts, and will make sure that no gold will be left by then. From: http://www.marketoracle.co.uk/Article7722.html Anyone else worried about GM? Here's a response from James Turk. Hi xxxx I've read this article by Professor Fekete. I have a number of problems with it, just like I have had from time to time with some of his other articles. Most importantly, I take exception to his comment as follows: "Even allocated and segregated metal account gold is not safe. The temptation on the account providers to default will be irresistible." This comment reflects I think Professor Fekete's lack of business experience. There is no temptation "to default" in well run businesses. That is not how businesses are operated, and one would think that even a college professor would understand this basic rationale. Namely, well-run businesses focus on the long-term and aim solely to serve customer needs, not to steal from customers. I am surprised that Professor Fekete would think otherwise. Regards James Link to comment Share on other sites More sharing options...
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