romans holiday Posted January 16, 2009 Report Share Posted January 16, 2009 I would say yes. I know the world can come crumbling down at any moment and why risk missing the boat, but... I think you can afford a week IMHO. I'm taking my time on my next silver purchase, I'm keeping my eye on the market, but I will probably fill my boots next week. I think we are more likely to see a long drawn out grinding deflationary process... with the odd banking shock.... rather than a sudden hyper-inflationary event. The hyper-inflationary event may come at the end, with a currency crisis, like an exclamation mark punctuating the complete collapse of the economy... or maybe not. In the meantime, we have a great opportunity to trade a portion of our metal on the coming peaks and dips. Why spend all those hard-earned wages when you can use the volatility to add to your position. As for dry powder, I plan to accumulate and then spend on mining stocks and emerging markets when the markets slump next. Link to comment Share on other sites More sharing options...
tinecu Posted January 16, 2009 Report Share Posted January 16, 2009 I think we are more likely to see a long drawn out grinding deflationary process... with the odd banking shock.... rather than a sudden hyper-inflationary event. The hyper-inflationary event may come at the end, with a currency crisis, like an exclamation mark punctuating the complete collapse of the economy... or maybe not. In the meantime, we have a great opportunity to trade a portion of our metal on the coming peaks and dips. Why spend all those hard-earned wages when you can use the volatility to add to your position. As for dry powder, I plan to accumulate and then spend on mining stocks and emerging markets when the markets slump next. Careful. Trading this situation could go horribly wrong. Narco too seems tempted to play with fire. Link to comment Share on other sites More sharing options...
Thiarna Posted January 17, 2009 Report Share Posted January 17, 2009 IMO there is far too much attention paid to the GoldUS$ rate. Here is the 5 year GoldEUR chart, showing a clear upward trend: The recent 'strength' of the US$ means that GoldUS$ will be lower than the other crosses. Someone here said ECB are doing everything they can to keep Gold below €650, so might we see Euro up against the dollar or gold down next week? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 17, 2009 Report Share Posted January 17, 2009 Someone here said ECB are doing everything they can to keep Gold below €650, so might we see Euro up against the dollar or gold down next week? I'm sorry, I'm not really doing short-term analysis for gold at the moment. As far as I'm concerned it's going up long-term and so I am concentrating on other things. If you're trying to time your buying, I suggest you average in, and not take too much notice of the price now. In a year or 3, you'll wonder why you bothered. Much better to be in than fighting to get through the same door as everyone else. Link to comment Share on other sites More sharing options...
warpig Posted January 17, 2009 Report Share Posted January 17, 2009 Well those are the breaks. I still think it will dip next week, but we'll have to wait and see. I think Steve's comments are probably the best advice at the moment. hmmm, dooh. Looks like bank troubles has pushed the price up again and possibly broken the down trend. Link to comment Share on other sites More sharing options...
warpig Posted January 17, 2009 Report Share Posted January 17, 2009 Asset or monetary? I think we are more likely to see a long drawn out grinding deflationary process... with the odd banking shock.... rather than a sudden hyper-inflationary event. The hyper-inflationary event may come at the end, with a currency crisis, like an exclamation mark punctuating the complete collapse of the economy... or maybe not. In the meantime, we have a great opportunity to trade a portion of our metal on the coming peaks and dips. Why spend all those hard-earned wages when you can use the volatility to add to your position. As for dry powder, I plan to accumulate and then spend on mining stocks and emerging markets when the markets slump next. Link to comment Share on other sites More sharing options...
romans holiday Posted January 17, 2009 Report Share Posted January 17, 2009 Careful. Trading this situation could go horribly wrong. Narco too seems tempted to play with fire. Yes, I agree.... which is why I am only using a smaller percentage of my metal. The rest is in physical tucked away in a safe deposit box. I will treat my goldmoney account as a cash proxy... if I miss the "to infinity and beyond" event... no great harm done... still have cash [i think a long drawn out process is more likely]. Also, if the trade is successful will skim of a few physical coins from time to time. Link to comment Share on other sites More sharing options...
romans holiday Posted January 17, 2009 Report Share Posted January 17, 2009 Asset or monetary? We have a monetary inflation..... within the context of a macro-deflation. The context is extremely important and trumps what is going on in money supply imo. That said, I believe the currencies of anglo economies will buckle under the amount of debt pressure building up. Theoretically, I see it in terms of a hyper-deflationary depression where all paper assets devalue/deflate including the currency [double whammy between a rock and a hard place]. This is what I see as the "low road" to [hyper] inflated prices. Hyper-inflated prices will not be caused imo by a flood of new money in the markets. When/if prices ultimately [hyper] inflate, it will be a secondary effect caused by a currency crisis. My macro view is that essentially investment in anglo economies is dead. It will be about capital preservation while all assets [including cash] deflate. Monetary metal looks to be the only way out of this and will in turn be able to once again buy assets once they have come back to Earth. Link to comment Share on other sites More sharing options...
signofthetimes Posted January 17, 2009 Report Share Posted January 17, 2009 The rest is in physical tucked away in a safe deposit box. please tell me its not in a bank? Link to comment Share on other sites More sharing options...
romans holiday Posted January 17, 2009 Report Share Posted January 17, 2009 please tell me its not in a bank? In a safe deposit box in a vault with a private company. The closest "onion ring" I have to my core position I guess ...... I still have a few ounces I can clink together from time to time... as Charleston said: "from my cold dead hands!" But then if it gets to that stage I will no longer be worrying about economics. Link to comment Share on other sites More sharing options...
sid Posted January 17, 2009 Report Share Posted January 17, 2009 Gold coins found, hope none of our member lost their gold! Huge Iron Age haul of coins found Page last updated at 15:24 GMT, Saturday, 17 January 2009 One of the UK's largest hauls of Iron Age gold coins, which would have been worth in today's money up to £1m, has been found in Suffolk. The 824 so-called staters were found in a broken pottery jar buried in a field near Wickham Market by a local man using a metal detector. Jude Plouviez, of the Suffolk County Council Archaeological Service, said the coins dated from 40BC to AD15. They are thought to have been minted by predecessors of Iceni Queen Boudicca. Ms Plouviez said their value when in circulation had been estimated at a modern equivalent of between £500,000 and £1m, but they were likely to be worth less than that now. http://news.bbc.co.uk/1/hi/england/suffolk/7835228.stm Link to comment Share on other sites More sharing options...
warpig Posted January 18, 2009 Report Share Posted January 18, 2009 Thankfully the winning bidder didn't pay for the Britannia, it's just been relisted. Sold for £890 + £6 postage Wow Could have bought all you wanted of these 18 months ago for £400 and under Link to comment Share on other sites More sharing options...
notanewmember Posted January 18, 2009 Report Share Posted January 18, 2009 Gold coins found, hope none of our member lost their gold! Huge Iron Age haul of coins found Page last updated at 15:24 GMT, Saturday, 17 January 2009 One of the UK's largest hauls of Iron Age gold coins, which would have been worth in today's money up to £1m, has been found in Suffolk. The 824 so-called staters were found in a broken pottery jar buried in a field near Wickham Market by a local man using a metal detector. Jude Plouviez, of the Suffolk County Council Archaeological Service, said the coins dated from 40BC to AD15. They are thought to have been minted by predecessors of Iceni Queen Boudicca. Ms Plouviez said their value when in circulation had been estimated at a modern equivalent of between £500,000 and £1m, but they were likely to be worth less than that now. http://news.bbc.co.uk/1/hi/england/suffolk/7835228.stm Gold undervalued today or was gold overvalued back then? Link to comment Share on other sites More sharing options...
azazel Posted January 18, 2009 Report Share Posted January 18, 2009 Gold undervalued today or was gold overvalued back then? I read that and thought those stater coins are about the same as a half sovereign. In todays money, 824 half sovereigns are worth £65,000, but back then (2000 years ago)the staters represented the wealth equivelent to £500,000- £1,000,000 fiat. Even the half sovereigns would have been more valuable than what £65,000 could buy today. You cant even buy a terraced house, 2 up, 2 down, for £65,000 today, but I bet 824 half sovereigns would have bought you a terraced house 100 years ago. In fact a mate of mine is selling a fair sized semi detached house in Dorking for £270,000 and found the deeds dating back to 1908 when the house was sold for £400. Thats 400 sovereigns worth £60,000 today. http://www.rightmove.co.uk/property-for-sa...maxPrice=300000 Gold undervalued today I think, and house prices over valued! Link to comment Share on other sites More sharing options...
lupercal Posted January 18, 2009 Report Share Posted January 18, 2009 Undervalued today I think!! Interesting comments from Will Hutton reader. Gold buying going mainstream. Early stage of a bubble. http://www.guardian.co.uk/commentisfree/20...cession-banking But what *is* safe now? Am seriously looking into transferring ISA savings (such as they are) into gold directly - does anyone know how this is done? You should be able to buy sovereigns (and half-sovereigns) on-line from the Royal Mint, here: http://www.royalmint.com/ (I say that - but I can't see them now, except the "baby gift set". They were certainly on sale a few weeks ago.) Don't bother with the "proof" ones - the bullion coins contain the same amount of gold, but are much cheaper (but slightly less shiny). You can also get silver coins quite cheaply. Link to comment Share on other sites More sharing options...
azazel Posted January 18, 2009 Report Share Posted January 18, 2009 Interesting comments from Will Hutton reader. Gold buying going mainstream. Early stage of a bubble. http://www.guardian.co.uk/commentisfree/20...cession-banking Thanks, interesting read. Im seriously concearned that UK could go the way of Iceland but without the sexy girls. Regarding the guy who has an ISA and wants some gold, why cant he just transfer it into his bank account and then buy some sovereigns or whatever from ats or cid etc? Link to comment Share on other sites More sharing options...
notanewmember Posted January 18, 2009 Report Share Posted January 18, 2009 Gold sovs have gone up steadily. The Royal mint through 2007 sold standard sovereigns at £150, £160 in 2008. Now the 2009 ones are £170. The cheeky buggers have also raised the remaining old stock of 2008 to £170 too. If any one can find sovereigns under £150 then they are a good buy today. I remember they were £119 in 2005 from goldline. Link to comment Share on other sites More sharing options...
aardvark Posted January 18, 2009 Report Share Posted January 18, 2009 Gold sovs have gone up steadily. The Royal mint through 2007 sold standard sovereigns at £150, £160 in 2008. Now the 2009 ones are £170. The cheeky buggers have also raised the remaining old stock of 2008 to £170 too. If any one can find sovereigns under £150 then they are a good buy today. I remember they were £119 in 2005 from goldline. you must have been buying proof ones then cos in 2005 you should have been paying less than half that. In fact you can get sovs for less than £150 today from CID. I can't believe i got some a year and a half ago for £86! Link to comment Share on other sites More sharing options...
azazel Posted January 18, 2009 Report Share Posted January 18, 2009 . I can't believe i got some a year and a half ago for £86! Oh stop it. I paid £115 and kick myself every day that I didnt buy sooner. I first thought about buying gold in 2004, having read on conspiricy websites about it, I rang ATS and Chards but then forgot all about it, dooh! Link to comment Share on other sites More sharing options...
notanewmember Posted January 18, 2009 Report Share Posted January 18, 2009 I read that and thought those stater coins are about the same as a half sovereign. In todays money, 824 half sovereigns are worth £65,000, but back then (2000 years ago)the staters represented the wealth equivelent to £500,000- £1,000,000 fiat. Even the half sovereigns would have been more valuable than what £65,000 could buy today. You cant even buy a terraced house, 2 up, 2 down, for £65,000 today, but I bet 824 half sovereigns would have bought you a terraced house 100 years ago. In fact a mate of mine is selling a fair sized semi detached house in Dorking for £270,000 and found the deeds dating back to 1908 when the house was sold for £400. Thats 400 sovereigns worth £60,000 today. http://www.rightmove.co.uk/property-for-sa...maxPrice=300000 Gold undervalued today I think, and house prices over valued! Interesting. Thanks Link to comment Share on other sites More sharing options...
notanewmember Posted January 18, 2009 Report Share Posted January 18, 2009 Former bank with vault and safes recently come up for sale. http://www.rightmove.co.uk/property-for-sa...&radius=5.0 Should answer any questions about where to store it. Link to comment Share on other sites More sharing options...
hotairmail Posted January 18, 2009 Report Share Posted January 18, 2009 Asset or monetary? Under the collateralised lending model. the 'danger' fretted about is both. Link to comment Share on other sites More sharing options...
nicejim Posted January 19, 2009 Report Share Posted January 19, 2009 Huge Oil Age haul of electrons found Page last updated at 15:24 GMT, Saturday, 17 January 5328 ...which would have been worth in today's money up to Naff All Link to comment Share on other sites More sharing options...
lupercal Posted January 19, 2009 Report Share Posted January 19, 2009 Gerald Celente on gold and oil. http://uk.youtube.com/watch?v=XQf8kJRcnQM&...feature=related Link to comment Share on other sites More sharing options...
lupercal Posted January 20, 2009 Report Share Posted January 20, 2009 Gold - The view from New Delhi India (destination for one ounce of gold in every five sold worldwide) Short term bearish, long term bullish. there are expectations that gold prices may slump to $500 per ounce on lack of demand. http://www.commodityonline.com/news/Got-mo...-14299-3-1.html NEW DELHI: Even as investors across the globe are pitching for gold what is reining in gold prices in India. If you analyze last weeks trends, gold, after being in the grip of bears for the most part of the week, recovered during the weekend. On Friday, it gained three per cent to close at $847.2 an ounce but during late fixing, it slipped to $833.75, indicating the continuing volatility. So, gold is not soaring as expected. The reasons is the global meltdown impact. In reality, people have stopped buying the yellow metal from spot markets because of the shortage of liquidity. Even though people are sure about the prospects of gold, they are not buying it from the market because for the prices are still high. What is keeping gold under leash is low physical demand and less money with investors to buy the yellow metal. Following this trend, there are expectations that gold prices may slump to $500 per ounce on lack of demand. After touching $1,030 an ounce in March last, gold has been witnessing high volatility. During the last week of December, gold touched $890 before slipping to nearly $800. A section of analysts have put the average price of gold this year at $825. The main reasons for gold falling prey to bears is that demand for it is the lowest in almost a decade. Because, prices are too high for buyers still. Technically, $895 is seen as the key resistance point for gold. Support for it is around $808. The precious metal has gone below one of the key support level of $841 and has not been able to scale over the short-term resistance of $868. However, gold’s prospects seem to be bright in the long term. Because the rich people are buying gold bars as an investment. Because those who have money know that gold is the best option for them to invest. The rich are asking for gold bars as they are worried over how economy would behave this year. So, investors are preferring physical gold over even exchange-traded gold funds. The current global situation is such that there is a fear that deflation may set it. In that case, there is nothing as safe as gold. Silver is set to tail gold, while the platinum group of metals will see some spark only on economic revival. Link to comment Share on other sites More sharing options...
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