Pluto Posted March 12, 2008 Report Share Posted March 12, 2008 More folk selling their only possessions of any value - who is the stupid one?: http://www.chicagotribune.com/business/chi...0,7134634.story "It's stuff that's lying around the house, so they figure, why not make money from it?" said co-owner Wayne Cohen. "The price of gold is so ridiculously high that they'd be stupid not to get rid of it." Others are selling to help cope with tough times in an economic slowdown. "I have mortgage brokers, real estate agents, retail shop owners. They're nervous. You can see the stress on their faces," Vela said. "Some don't want to let go of their gold. But gold is cash to them." Link to comment Share on other sites More sharing options...
crudeFool Posted March 12, 2008 Report Share Posted March 12, 2008 Just had a little nibble myself, with some more Goldcorp, and Minefinders. Bought some Minefinders last week after listening to Jim Puplava's interview with their CEO. Also "nibbled" a bit of EMED this morning after their 10% drop yesterday. Hopefully they'll do OK, otherwise I fear wife, frying pan, head crude Link to comment Share on other sites More sharing options...
Pluto Posted March 12, 2008 Report Share Posted March 12, 2008 Bought some Minefinders last week after listening to Jim Puplava's interview with their CEO. Also "nibbled" a bit of EMED this morning after their 10% drop yesterday. Hopefully they'll do OK, otherwise I fear wife, frying pan, head crude Yes, Mindfinders should be breaking out soon, this is the third attempt this year. Third time lucky! I think Puplava also said he owns it as well. Link to comment Share on other sites More sharing options...
Saberu Posted March 12, 2008 Report Share Posted March 12, 2008 Agreed.A jump thru $1,000 could come at any time now I don't believe it will, I think because $1k is such a big psychological barrrier the banks and governments will try hard to make sure it doesn't reach that by sabotaging the gold market with gold leases. Their efforts will broken at some point so perhaps that point is a few months away rather than soon. Link to comment Share on other sites More sharing options...
drbubb Posted March 12, 2008 Report Share Posted March 12, 2008 Its Royal Gold (Nasdaq RGLD). I only topped up a few days ago, when it was below $30. Most of my holding was purchased last month for under $29. There's a thread on it in the mining section, and I believe it's one of Bubb's largest positions at the moment (correct me if I'm wrong Bubb). To be fair, it's been lagging the price of gold pretty badly since I bought it, but I've decided to hang on with it at least until we breach $1000 gold. By most indicators it's massively undervalued and I was hoping to see around $40 per share for it when gold moved towards $1000. That's still a possibility if gold's next leg up holds. RGLD is lagging, and that's disappointing, but I am holding on. In fact, here's my trading plan: I scooped up some long dared $25 call when it was below $30, as it approaches $32 again (if it does!), I will sell down some of my stock, getting my cash and profit out. Then I will RIDE the stock with limited risk, relying on my Call options only, while having access to substantial cash. This is example of the type of "arbitrage" trade that I often do: replacing one stock with another: buying better value or lower risk, while disposing of shares at a profit. Link to comment Share on other sites More sharing options...
Pluto Posted March 13, 2008 Report Share Posted March 13, 2008 I don't believe it will, I think because $1k is such a big psychological barrrier the banks and governments will try hard to make sure it doesn't reach that by sabotaging the gold market with gold leases. Their efforts will broken at some point so perhaps that point is a few months away rather than soon. I don't know, it seems as though oil is breaking out to the upside and the dollar index breaking down to new lows, not sure how much longer they can keep Gold sub 1000. Although I agree it is a massive psychological barrier. Link to comment Share on other sites More sharing options...
drbubb Posted March 13, 2008 Report Share Posted March 13, 2008 A move up in Gold through $1,000 may get the Juniors (CDNX) moving. Here's how I track the Juniors, as a Ratio... Close-up: Daily CDNX-to-SPX ratio Link to comment Share on other sites More sharing options...
drbubb Posted March 13, 2008 Report Share Posted March 13, 2008 This interview (click on link) with JIM ROGERS is well worth a listen: http://www.cnbc.com/id/23588079 Jim tells it like it is Link to comment Share on other sites More sharing options...
crudeFool Posted March 13, 2008 Report Share Posted March 13, 2008 This interview (click on link) with JIM ROGERS is well worth a listen: http://www.cnbc.com/id/23588079 Jim tells it like it is No kidding! What a great interview. When asked how he would address the current issues if he was head of the Fed - "I was abolish the fed and resign". Some of his one liners are priceless Regards, crude Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 13, 2008 Report Share Posted March 13, 2008 Is it me, or are gold & silver getting ready to break up ? And would you blame people for going more into gold/silver given the past few days events ?! It's already changed from "an injection" to a "band-aid" John Rubino $200 Billion Band-Aid *AUDIO* The Fed keeps chasing its tail... at the expense of the dollar http://www.howestreet.com/index.php?pl=/go...mediaplayer/805 Geez, HowStreet has a lot of podcasts today ! Link to comment Share on other sites More sharing options...
drbubb Posted March 13, 2008 Report Share Posted March 13, 2008 No kidding! What a great interview. When asked how he would address the current issues if he was head of the Fed - "I was abolish the fed and resign". Some of his one liners are priceless I also like: "Maria, what's wrong with a recession? Recessions are healthy, they clean out dead wood." (or something like that) The Fed cannot "fix" the credit mess. It's about insolvency (ie values are unsustainable), not about liquidity. Lower prices are needed to fix the overvaluation. The pain must be endured, not delayed. The sooner real estate prices fall to a level where they are affordable to the masses, at sustainable interest rates, with reasoanble deposits from buyers, the better. That's when the problems will begin to ease. Link to comment Share on other sites More sharing options...
goldenbee Posted March 13, 2008 Report Share Posted March 13, 2008 Took delivery of my first and last batch of 1oz silver philharmonicas. Too shiny and no 'ting' when struck. Not my ting, I'm going back to pre 47. kb Link to comment Share on other sites More sharing options...
narco Posted March 13, 2008 Report Share Posted March 13, 2008 Took delivery of my first and last batch of 1oz silver philharmonicas. Too shiny and no 'ting' when struck. Not my ting, I'm going back to pre 47. kb eh? lol Link to comment Share on other sites More sharing options...
Tune2001 Posted March 13, 2008 Report Share Posted March 13, 2008 Fantastic interview from Jim Rogers. Get this man on the BBC news! Some interesting points that he did and didn't mention.. 1) One for Bubb here: Jim talks about holding the commodity itself rather than shares. He quoted a figure of 300% better than holding the shares. I always thought that shares give you leverage on the commodity itself, and thus the greater return. This is why the good doctor holds gold shares more than physical gold? 2) He didn't mention gold once! 3) He espoused buying softs - even as wheat is running wild. Our very own Frizzers has suggested selling this commodity! He makes some great points about Bernanke's running of the economy but I won't be running around Tesco's filling my cupboards with Nescafe and Tate & Lyle' finest just yet.... Link to comment Share on other sites More sharing options...
goldenbee Posted March 13, 2008 Report Share Posted March 13, 2008 eh? lol Just don't like them, I prefer my old crowns, florins etc. kb Link to comment Share on other sites More sharing options...
narco Posted March 13, 2008 Report Share Posted March 13, 2008 Just don't like them, I prefer my old crowns, florins etc. kb Nah, not my cup of tea and i have a bag of these. They are dirty, worn out and contain only 50% silver. Gimme shiny 99.9% any day. Link to comment Share on other sites More sharing options...
sbn Posted March 13, 2008 Report Share Posted March 13, 2008 Oh COME ON - 991 - the 1K is so close I can taste it - they are going to have to start getting up at 2 in the morning to attend to the smackdown soon! Link to comment Share on other sites More sharing options...
sbn Posted March 13, 2008 Report Share Posted March 13, 2008 Ha Ha - just as I said that!! - its like someone got an alarm call "its breached 900 Sir, what should we do?" Link to comment Share on other sites More sharing options...
azazel Posted March 13, 2008 Report Share Posted March 13, 2008 Took delivery of my first and last batch of 1oz silver philharmonicas. Too shiny and no 'ting' when struck. Not my ting, I'm going back to pre 47. kb Give it 70 years and they will be a similar colour to your old coins. Just my theory. I'm with Narco on this, 99999999999 silver and shiny. Bullion in the form of coins is what I want. I wouldn't be surprised to see $1000 this week but I think there will be a patch where it will fluctuate above and below the $1k mark before it leaves the 3 digit era behind. I have no TA or charts to back this up just a gut feeling! Link to comment Share on other sites More sharing options...
ologhai Posted March 13, 2008 Report Share Posted March 13, 2008 Ha Ha - just as I said that!! - its like someone got an alarm call"its breached 900 Sir, what should we do?" Lately, I've been watching the gold price in UK£ more than in US$, and, having just flicked back to US$ on the BV chart, I'm amazed at how different the graphs look between the two currencies. It seems the gold price in UK£ and US$ mostly follow each other more or less, but comparing the activity this week, in UK£, the price (although as volatile as usual) isn't really going anywhere, but, in US$, there's a very definite climb! Just a further weakening of the US$? Link to comment Share on other sites More sharing options...
Tune2001 Posted March 13, 2008 Report Share Posted March 13, 2008 Just a further weakening of the US$? Yes. Exactly right. Link to comment Share on other sites More sharing options...
drbubb Posted March 13, 2008 Report Share Posted March 13, 2008 Lately, I've been watching the gold price in UK£ more than in US$, and, having just flicked back to US$ on the BV chart, I'm amazed at how different the graphs look between the two currencies. It seems the gold price in UK£ and US$ mostly follow each other more or less, but comparing the activity this week, in UK£, the price (although as volatile as usual) isn't really going anywhere, but, in US$, there's a very definite climb! Just a further weakening of the US$? YES! I have been thinking that Gold might hit $1,000, when the dollar falls thru Yen 100 Link to comment Share on other sites More sharing options...
sbn Posted March 13, 2008 Report Share Posted March 13, 2008 991 again - better smack harder & quicker! 987 > 991 How does a jump like that happen? Does Mr Creosote just walk into Ratners and say "I'll take the lot" "in a bucket" Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 13, 2008 Report Share Posted March 13, 2008 Well it just made 99.85. That proves Japan won't intervene to prevent it going under 100. From what I've been reading, they don't sound like they will. At least yet. Check out the price of gold in Yen though ! It's back under the 100,000/oz. Yen or gold, yen or gold Link to comment Share on other sites More sharing options...
pmaupoil Posted March 13, 2008 Report Share Posted March 13, 2008 Lately, I've been watching the gold price in UK£ more than in US$, and, having just flicked back to US$ on the BV chart, I'm amazed at how different the graphs look between the two currencies. It seems the gold price in UK£ and US$ mostly follow each other more or less, but comparing the activity this week, in UK£, the price (although as volatile as usual) isn't really going anywhere, but, in US$, there's a very definite climb! Just a further weakening of the US$? Exactly! It is currently quite frustrated. Gold is truly underperforming at the moment, once it breaks the psychological $1000 barrier which I believe may still take a few days or weeks, it will go ballistic like oil did on the $100! Link to comment Share on other sites More sharing options...
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