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Watching gold and silver prices is pretty entertaining, but I assume that if one's intention is to buy gold and silver and hold them for, say, at least a year or two, to some extent, it doesn't matter all that much when it gets bought.

 

Obviously, it's nice to buy in relative dips where possible, but I suppose it won't make all that much difference for the sake of a fistful of dollars (or pounds) per ounce...

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I am taking screenshots to preserve the moment. :rolleyes:

 

me too

 

aa0ve7.gif

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I think it was an error on my part to post a vaguely musing semi-question post before you'd finished masturbating... :rolleyes:

 

But, by the look of it, climax was achieved! *coughs*

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Let's not forget to thank HPC for giving us the ultimate contrarian boost. They kick the gold thread off the site and a few weeks later it breaches $1000.

 

I wonder if there is any way we can get the thread back on the main HPC forum and then get them to kick us out again? That could give us $2000 by year end. :rolleyes:

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By the way, this morning, one work colleague told me that my view on gold might be right. And he was impressed by how much it had been moving up. Another one asked me how one generally buys gold.

 

This does not happen every day (this kind of response by colleagues). The public is getting more and more aware of what's going on.

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...

I wonder if there is any way we can get the thread back on the main HPC forum and then get them to kick us out again? That could give us $2000 by year end. :rolleyes:

:):lol:

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1000 for sure n1. So whats the next goal? £1000 GBP I think

 

Some people think that the dollar will rally, such as Financial Planner. You think thats likely?

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Is anyone else feeling pretty good about how orderly this has all been? No blow off top, no parabola, it all bodes well for further steady upwards movement and lessens the chaotic impact of the big round number.

 

I'm thinking $1050 is a good bet now before any significant correction.

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I have a pot of cash sitting next to me waiting for the correction so I can fill my boots. Whilst I expected a pullback to $820 pre $1100, I'm starting to wonder whether it will happen... I'm losing the courage of my conviction. Given it takes very little bearish news to push gold up and that there is plenty of bearish news, what are the odds of not having a significant correction?

 

Any thougts?

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I have a pot of cash sitting next to me waiting for the correction so I can fill my boots.

 

Why not look at some Juniors?

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The surge over $1000 was mainly USD-weakness. The USD is now recovering slightly, gold moving lower.

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...says J.Sinclair before Gold hopped thru $1,000 per ounce...

 

Dear Extended Family,

 

Never in economic history has there been a night like tonight. I am writing later than usual because of the enormity of all the converging forces. The euro reaches for $1.60, the Middle East oil producers are in shock, and the IMF tells the world to “plan for the worst.”

 

The reason this missive is late is because I am reverberating at the speed of the disintegration. These cursed OTC derivatives and their makers, who incidentally made the international banking community rich beyond your wildest dreams, are now unwinding at lightening speed.

 

Do you think any entity with any OTC derivative now has faith in the paper?

 

This paper is $550 trillion plus dollars in notional value. The horrible fact is that in bankruptcy notional value becomes real value with the capacity to destroy the world financial system.

 

The above is no wild assumption. It is hard, cold fact.

 

Expect currency intervention to slow down the rise of the euro.

Intervention has never worked. It will not now. In fact, it will backfire so fast that the effort will be abandoned, making things even worse.

Intervention in currency, the dollar, will only provide the capacity for other central banks, oil producers and holders of high risk long US treasury paper to diversify out in huge amounts of decaying dollars at singular prices.

I could go through a tome on how intervention works, but accept that any rise in short rates will break the bank immediately. Intervention in the euro/dollar is another practical impossibility except as a bluff.

There is no practical solution to today’s TERMINAL problems and that means you are up to your eyeballs in alligators.

You must protect yourselves.

Gold is going to $1650. In all probability my major error will be in forecasting a price that is much too low for gold.

The ratio spread long the major gold producers, short the juniors, is going to kill the math whizzes that think they are in the captain’s seat. The reason is the only value still in precious metals shares lies in the best junior issues these geeks have been hammering.

The prayer that a junior with quality assets has is that the illegal short position is enormous.

 

 

This is it!

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I have a pot of cash sitting next to me waiting for the correction so I can fill my boots. Whilst I expected a pullback to $820 pre $1100, I'm starting to wonder whether it will happen... I'm losing the courage of my conviction. Given it takes very little bearish news to push gold up and that there is plenty of bearish news, what are the odds of not having a significant correction?

 

Any thougts?

 

 

I don't think you'll get anywhere near $820, if there is a big correction the absolute lowest I can see is $850.

 

I think the correction will come, but not until the current Fed antics have been played out and the DOW has made its mind up about where it's going to go (down in my opinion).

 

Your right about the flow of news, this negates the usual TA. I don't see a problem with that, the news (with the exception of the Fed/investment bank positive spin bullsh*t) is effectively relaying the fundamental picture to the masses, and it's fundamentals which will allow sentiment to take gold higher.

 

I'm operating on a large core position (mostly equities, some physical) built up years ago, which I never trade, but occasionally add to. In addition to that, I have my 'play money' for trading, which moves around on a more regular basis. If gold goes above $1030, I may take profit in my trades and wait. But my core position will still be there, so I'll still be in the market.

 

This has worked for me for years, and kept me sane during the May 06 nightmare. It was far easier to not rush into buying when I knew I wasn't out of the market altogether.

 

It's all about risk at the end of the day. As Jim Sinclair says - you don't want to be THAT guy who went bust trading gold in a massive gold bull market.

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...says J.Sinclair before Gold hopped thru $1,000 per ounce...

 

Dear Extended Family,

 

Never in economic history has there been a night like tonight. I am writing later than usual because of the enormity of all the converging forces. The euro reaches for $1.60, the Middle East oil producers are in shock, and the IMF tells the world to “plan for the worst.”

 

The reason this missive is late is because I am reverberating at the speed of the disintegration. These cursed OTC derivatives and their makers, who incidentally made the international banking community rich beyond your wildest dreams, are now unwinding at lightening speed.

 

Do you think any entity with any OTC derivative now has faith in the paper?

 

This paper is $550 trillion plus dollars in notional value. The horrible fact is that in bankruptcy notional value becomes real value with the capacity to destroy the world financial system.

 

The above is no wild assumption. It is hard, cold fact.

 

Expect currency intervention to slow down the rise of the euro.

Intervention has never worked. It will not now. In fact, it will backfire so fast that the effort will be abandoned, making things even worse.

Intervention in currency, the dollar, will only provide the capacity for other central banks, oil producers and holders of high risk long US treasury paper to diversify out in huge amounts of decaying dollars at singular prices.

I could go through a tome on how intervention works, but accept that any rise in short rates will break the bank immediately. Intervention in the euro/dollar is another practical impossibility except as a bluff.

There is no practical solution to today’s TERMINAL problems and that means you are up to your eyeballs in alligators.

You must protect yourselves.

Gold is going to $1650. In all probability my major error will be in forecasting a price that is much too low for gold.

The ratio spread long the major gold producers, short the juniors, is going to kill the math whizzes that think they are in the captain’s seat. The reason is the only value still in precious metals shares lies in the best junior issues these geeks have been hammering.

The prayer that a junior with quality assets has is that the illegal short position is enormous.

 

 

This is it!

 

 

Georgie Junior on gloomberg now live,he sound's as if he panicking about the whole sorry affair. :(

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I have a pot of cash sitting next to me waiting for the correction so I can fill my boots. Whilst I expected a pullback to $820 pre $1100, I'm starting to wonder whether it will happen... I'm losing the courage of my conviction. Given it takes very little bearish news to push gold up and that there is plenty of bearish news, what are the odds of not having a significant correction?

 

Any thougts?

Fill your boots with Silver? Why do people want to fill their footwear with metal? Haven't you got a box to put it in?

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Hi All,

Just been on holiday and came back to see gold thread no longer on HPC main forum. After searching, found it in the metals forum and then catching up found it had moved to here. As a regular reader but rare poster, I have now transferred over here. If it wasn't for this Gold thread, I would be in a very much poorer position, and missed out in investing my House Moving Fund. Thank you for continuing to debate this topic and I look forward to reading your comments.

 

Kingfisher.

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Fill your boots with Silver? Why do people want to fill their footwear with metal? Haven't you got a box to put it in?

 

Alternative?

Fill your boots with smelly socks, and worn out feet

 

Hi All,

Just been on holiday and came back to see gold thread no longer on HPC main forum. After searching, found it in the metals forum and then catching up found it had moved to here. As a regular reader but rare poster, I have now transferred over here. If it wasn't for this Gold thread, I would be in a very much poorer position, and missed out in investing my House Moving Fund. Thank you for continuing to debate this topic and I look forward to reading your comments.

Kingfisher.

 

Welcome, Kingfisher

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Alternative?

Fill your boots with smelly socks, and worn out feet

 

 

 

Welcome, Kingfisher

 

 

I'd line my boots with dollar bills, they are great insulators, and far cheaper than socks. :(

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