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[smugalert] Nevertheless, I'm up 10% (after tax) in same time period! [/smugalert]

 

...but that's in sterling, which means I have to take off 25% if I want to compare to USD :(

 

 

Nice chart btw.

 

Bonds. :o:lol:

 

which one will burst, GOLD or BONDS? I know which one I can see & touch. ;)

 

 

ps - when I read your post, I did it in Kryton's voice (even when I tried not to)

 

'smugmode' alert from Kryton in Red Dwarf. :D

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cgnao's pretty quiet on here nowaday - is he posting elsewhere? Anyone spotted the lad?

 

He is still posting. Last on the 30th December on the Pound gates of Hell thread.

 

http://www.greenenergyinvestors.com/index....amp;#entry85788

 

Even Cgnao needs to take a Xmas break :lol: I'm sure he will be back this week, what with Alisters comments over the weekend regarding additional bank bailouts, the BOE meeting on thursday and US non Farm Payroll on Friday. Its going to be a busy week for the £ at the begining of the week and all eyes on the US at the end.

 

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Some happy news for a change.

 

A Nevada town escapes financial woes, thanks to gold

http://www.iht.com/articles/2009/01/02/america/02nevada.php

 

The reason: They mine gold in Lander County, a mineral-rich area that is a major reason Nevada, nicknamed the Silver State, is also the world's fourth biggest producer of gold.

 

And when the broader economy declines and the value of the dollar fluctuates, people buy gold. At current prices — gold hit $892 an ounce on Monday, its highest price in three months and not that far off its record high of more than $1,000 an ounce in March — places like Battle Mountain hum with good-paying jobs and rising home values, making the financial woes of the rest of the country a distant concern.

 

"I don't know of anybody who is getting foreclosed on; it's just not something that's an issue out here," Charlotte Thompson, 56, said, shrugging as she seated diners on a frigid, wind-swept evening at the Owl Club Casino and Restaurant, the main attraction of Battle Mountain's four-block main thoroughfare, Front Street. "That's the way it usually goes, though. We're always opposite of the rest of the country."

 

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PPT? Deleveraging? Stray cosmic rays? <£20/t oz.

Profit taking and easing tensions now that world is slowly 'accepting' Israels incursion (occupation) of Gaza.

 

Uptrend still very much intact, just stand back and look at a several week/month chart.

 

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Over a year you'v gained about £5. :(

Not sure what you mean....

 

Fact is you'll have made £5 if you invested £15 one year ago in gold - i.e., a 33% profit!!

 

And look at the general pattern that's emerging...

 

over 1 month, annualised rate is +180%

over 3 months, annualised rate is +70%

over 6 months, annualised rate is +55%

over 1 year, annualised rate is +33%

over 5 years, annualised rate is +35%

 

My point is there's a very nice accelerating uptrend in place just now, and with the expected volatility as few percent up or down in any one day must not be over-interpreted.

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I was looking back over the last 12 months in dollars. dont get me wrong, i hold gold myself and made quite a few thousand puonds in 2007 simply by sitting at home and stroking my stash. I baught back in recently when it clipped 700 dollars and wont be selling for at least a year or so when i guess it will go above a thousand dollars again, this time selling for sterling could be a winner (if sterling dosnt bounce back to much after this temporary dip)

 

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Not sure what you mean....

 

Fact is you'll have made £5 if you invested £15 one year ago in gold - i.e., a 33% profit!!

 

And look at the general pattern that's emerging...

 

over 1 month, annualised rate is +180%

over 3 months, annualised rate is +70%

over 6 months, annualised rate is +55%

over 1 year, annualised rate is +33%

over 5 years, annualised rate is +35%

 

My point is there's a very nice accelerating uptrend in place just now, and with the expected volatility as few percent up or down in any one day must not be over-interpreted.

 

Thanks for taking the time to calculate that, i accidently typed £ intstead of $. Gold is about the same in dollars as it was 12 months ago.

 

But yes your right, sterling is very weak at the moment and looks over sold imo, as soon as the BOE stops hacking rates it will recover.

 

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...i accidently typed £ intstead of $

oooohh... you can't get away with mistakes like that on this forum :)

 

Thanks for taking the time to calculate that

...and here it is in USD. The '-10%' section correlates simply with the USD getting unreasonably strong for a period, due to repatriation of panicking dollars. That effect is largely now finised with, and so a compensatory upswing in PoG should follow (and has already started)

 

over 1 month, annualised rate is +170%

over 3 months, annualised rate is -10%

over 6 months, annualised rate is -10%

over 1 year, annualised rate is 0%

over 5 years, annualised rate is +25%

 

But yes your right, sterling is very weak at the moment and looks over sold imo, as soon as the BOE stops hacking rates it will recover.

...sometime yet then :lol:

 

 

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Interesting take on things. I hadn't equated the strength in gold when measured in Sterling as being a reaction to the fear of military action in Gaza, I had seen this as the pound sliding and the general increasing strength in gold, but you are probably right about people creaming profits. My point is sometimes there seems little logic to the movement of gold when measured across all currencies, especially when the news is so sparse! I was kind of hoping you would agree with the stray cosmic ray statement, it was starting to look like the most logical explanation.

 

Agreed, I had expected it to continue onwards and upwards this week, with the MPC meeting later in the week, perhaps the market is anticipating no further rate cuts this month! :lol:

 

Profit taking and easing tensions now that world is slowly 'accepting' Israels incursion (occupation) of Gaza.

 

Uptrend still very much intact, just stand back and look at a several week/month chart.

 

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Agreed, I had expected it to continue onwards and upwards this week, with the MPC meeting later in the week, perhaps the market is anticipating no further rate cuts this month! :lol:

 

Think we will see a move to 1.25% myself.

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Jim went to the Krugerrand gold factory:

 

http://jsmineset.com/index.php/2009/01/05/...re-of-the-same/

Let the paper tigers of the Comex pound the paper while you take delivery out of the warehouse and the big physical buyers just keep cleaning up and weak hand selling. I went to the Krugerrand and RSA gold factory between Johannesburg and Pretoria. All I heard was this great sucking noise as demand across the globe continued to take whatever the mints were able or willing to produce.

:lol:

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