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This is true, so can you see palladium falling further from where it is now or just staying at the range its in now for years to come? If I buy some, it will be a very long term investment, a pension plan.

 

Palladium was more expensive than gold for a while about 10 years ago - IMO it's a speculative punt defo only worth buying when low. I think the high price was due to Ford trying to corner the market and Russia limiting exports - not predictable fundamentals.

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I think it comes down to how much of your worth you already have in gold. If most of your worth is already in gold you can "afford" to wait for obvious buys. If not, then as you say average in.

 

Also, if you already have a decent amount of gold, the best strategy for buying is to trade US dollars with a smaller percentage of your gold position. Of course, taking profits in gold ounces on the big dips in POG. Here you are using the volatility of POG, and existing ounces, to add ounces.

 

By having a "trading" position alongside a long term buy and hold position you will be more objective towards POG .... not always wishing it to go up... or down for that matter.

 

I see my bullion as a buy and hold thing. My trading position in gold I take in mining stocks rather than bullion, as I feel you get more bang for your buck.

 

 

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POG just broke through €700 p/oz. For the first time. Ever.

 

I should be pleased but am reminded that I bought gold as a hedge in case everything else turned to crap.

 

Looks like its crapville.

 

 

 

tada - 100th post! :rolleyes:

 

 

 

 

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Palladium was more expensive than gold for a while about 10 years ago - IMO it's a speculative punt defo only worth buying when low. I think the high price was due to Ford trying to corner the market and Russia limiting exports - not predictable fundamentals.

And do you think its low or not low enough?

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I see my bullion as a buy and hold thing. My trading position in gold I take in mining stocks rather than bullion, as I feel you get more bang for your buck.

Sure, good point. I just do not want to spend any more earnings on bullion, rather let some of that bullion do the work.

 

Actually, I am hoping to buy mining and energy shares this year. Only after the markets crash once again of course. :)

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I really don't know enough about it to make an informed comment TBH. I know my stuff re silver and gold so am just concentrating on those two. Could make a killing now ref palladium, I really don't know. I think GF is knowledgeable, I think he is considering buying at some point.

I am not really knowledgeable, but I bought some already having had a look at the last 40 years palladium prices. I think the car disaster is largely priced in already. However, it is a highly speculative play. So, I have very little and will stay a small part of my portfolio.

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I am not really knowledgeable, but I bought some already having had a look at the last 40 years palladium prices. I think the car disaster is largely priced in already. However, it is a highly speculative play. So, I have very little and will stay a small part of my portfolio.

 

Well done. I'm looking to buy some too.

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And do you think its low or not low enough?

 

I don't know but:

 

I am getting to think I may get a bit of physical mainly because I think it is very unlikely to be confiscated if things turn really bad.

 

Silver at current prices is a better bet IMO if you want a volatile PM that may make a big profit or just could be a dog.

 

 

 

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I am getting to think I may get a bit of physical mainly because I think it is very unlikely to be confiscated if things turn really bad.

 

yep. the 1930s was economically sh1t, but the gov't remained very much intact (in fact the state grew even larger of course).

 

this time round is a different kettle of fish.

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Apocalypse Now by Tarek Saab - http://goldandsilvernow.com/other-sites/apocalypse-now.html

 

Inflation. Deflation. Inflation. Deflation. Inflation. Deflation. . . .

 

...The truth is, ordinary folks aren't talking about inflation or deflation. The words are: Desperation. Starvation. Migration. Depravation. Damnation . . . Obamanation. Chem Trail Nation. FEMA Concentration.

 

Obama calls $18B in Wall Street bonuses 'shameful' - http://biz.yahoo.com/ap/090129/obama_bonuses.html

 

Obama said Geithner has already had to step in to stop one company from taking delivery of a new corporate jet it planned to buy even after receiving billions of dollars of support from the government. That bank, Citigroup, canceled the deal earlier this week.

 

Put your savings in gold or a bank... ? Time for the worm to start to turn? Nationalisation on its way?

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Barrick Sees ‘Frightening’ Trend Driving Gold Higher

http://www.bloomberg.com/apps/news?pid=206...mp;refer=canada

 

Jan. 29 (Bloomberg) -- Barrick Gold Corp. Chairman Peter Munk said an “unpleasant and frightening” trend of investors buying gold as protection against uncertainty in world markets may help push the metal over $1,000 an ounce.

 

Munk, founder of Toronto-based Barrick, the world’s largest gold producer, said he has received an increasing number of calls from wealthy investors looking for ways to buy bullion. While that is positive for the metal market, it is a “sad part of a civilized society,” Munk said.

 

“That’s not where you want to be, it’s alarming,” he said today in an interview from Davos, Switzerland, where he is attending the World Economic Forum. “Do I personally believe gold will break through $1,000? It’s not a question of if, it’s a question of how soon.”

.

.

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‘Counterweight’ to Currencies

 

Gold is a “the obvious counterweight” to currencies, Munk said. The metal has reached record levels in Indian rupees and Russian rubles, among others, as investors outside the U.S. demonstrate a greater affinity to buy the metal as a hedge against currency declines, he said.

 

“Americans were brought up to believe in the dollar, with some justification, and it is the Germans and Russians and Indians that never trusted their currency,” Munk said. “Today, it’s a situation where people also have concerns about the dollar paper currency.”

 

Gold futures jumped to a record $1,033.90 an ounce in New York on March 17 as the dollar slid toward a record low against the euro and bank losses increased. Some investors buy the precious metal as a hedge against inflation and a haven from financial turmoil.

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Gold is the new money - http://ftalphaville.ft.com/blog/2009/01/29...-the-new-money/

 

Dollars are passé, the euro is over, and the Great British Pound is, well, the Great British Krona.

 

From today’s FT:

 

A hedge fund has begun offering investors the chance to have their investment denominated in gold, as worries grow over governments debasing their currencies by printing money.

 

Osmium Capital Management, a $178m hedge fund manager based in Bermuda, is launching a new share class allowing investors to hold shares measured as troy ounces of the fund, rather than US dollars, sterling or euros.

 

The move follows a surge in investor demand for small gold bars and coins held by individuals and gold-backed exchange-traded funds that are holding a record amount of bullion.

 

Of course — deciding whether to pile into gold still means having to answer the question: What are you more worried about — deflation brought on by a global recession or inflation induced by governments’ liquidity operations and competitive currency valuations? It’s a pretty fundamental one, and something that’s being debated among central bankers as well as your run-of-the-mill commodities analyst.

 

Investors, however, seem to increasingly be siding with the inflationary outlook. To wit David Einhorn beginning to buy, and Citi’s prediction earlier this week that gold may go over $2,000 an ounce. As Citi noted then, we may just be seeing the beginning of a new bull market:

 

We continue to believe that the present trend in Gold could ultimately achieve the same percentage gains as seen in the 1976-1980 bull market.

 

That move was from $101 to $873. We have already seen a move of almost exactly equal length in nominal terms. (Prior bull market was as above $772 low to high while this time the low to high move so far is $252 to $1030 or $778).

 

However the percentage change in the last bull market low to high was 764% (A perfect Fibonacci ratio interestingly enough). A repetition of that this time would target a price of $2,178.

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Gold getting a lot of coverage lately :unsure:

 

Gold price could treble if China divests dollars, warns mining boss

Jenny Booth

January 29, 2009

http://business.timesonline.co.uk/tol/busi...mp;attr=2876246

 

The gold price is likely to hit record highs in dollar terms as fears grow about the stability of the US currency, the chairman of Barrick Gold said today at the World Economic Forum (WEF) in Davos.

 

The founder of the world’s largest goldmining company said that there was even a possibility that central banks, including China’s, might start to switch from dollar holdings to gold, which could cause the price of the metal to treble.

 

“Gold is at record levels in every currency except dollars," Peter Munk told Reuters at the WEF meeting.

 

"Even within dollar terms it is within a few percentage points of an all-time high, at a time when all the other major commodities are falling.”

 

And yen !

 

Mr Munk said that downward pressure on the dollar, partly due to massive US spending and printing money to stimulate the economy, would increase gold’s attractions as an investment even further.

 

Gold usually moves in the opposite direction to the dollar, as it is often bought as a hedge against weakness in the US currency.

 

“My personal feeling is that with the rescue packages calling for trillions, not billions ... the value of the [uS] currency has to go down,” Mr Munk said.

 

He said that there was a possibility that central banks, including that of China, a major dollar asset holder, might start buying gold.

 

“If they decide to diversify, we assume into gold, then we start to talk about a trebling or quadrupling of the gold price," he said. "It could be followed by Russia or Kuwait.

 

“I don’t think it’s likely, but it’s more likely. I would not have said it two years ago — I’m not a gold bug — but it’s more likely than it was two years ago.”

 

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I sold 8.5% of my gold a few days ago at $900 with the intention of trading with this amount to try and increase my overall amount.

 

Sure glad I didn't sell more than that!

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Looks like I was right about Friday action. $917 and gaining altitude

 

Indeed it just spiked up to $924, now $920.

Trading this market is far from easy IMO

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...

My my what good timing.

Yes. If you're the operator, your timing will always be immaculate. Brilliant chart.

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In a few years there will stories be read about how people tried to trade gold in the biggest financial meltdown ever. There will be lots of talk about steamrollers and nickels.

 

I sold 8.5% of my gold a few days ago at $900 with the intention of trading with this amount to try and increase my overall amount.

 

Sure glad I didn't sell more than that!

 

Indeed it just spiked up to $924, now $920.

Trading this market is far from easy IMO

 

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Bumpy friday afternoon session ahead.....

 

 

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YOU NEED TO BE AT LEAST THIS TALL TO RIDE ON THIS ROLLERCOASTER

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001pb3.jpg

that high has a number of trends associated with it

 

I fear we will see a pullback, and so I will do some selling today, if I see the right prices.

But if I am wrong, and it punches thru, they a quick move to $1,000 is very possible.

As always, volume will be a critical factor.

Hi Bubb,

that chart sure has a lot of trendlines meeting at $925. What's your opinion now we got there!?

 

..something like this... but with suitable Gold banter in stead?

smackdown_1.jpg

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midday: Looks like gold is starting on a nother price jump ...just as I have to go traveling for 4 days, with litle/no acess to internet.

 

So I'm trusting you all to keep an eye on it for me :-)

USD 925!!!

 

WELL DONE EVERYONE ...I SEE I LEFT IT IN SAFE HANDS :)

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