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Just been talking to a woman who now lives in Oz but is back in the UK to sell her house and get free medical treatment. She complained about the stress of selling her house, which she doesn't want or use and is paid for. She is 61.

"Have you not had any offers?"

"Yes, buy a hundred grand under what it really worth, well, was a couple of years ago. I mean where am I going to make up that hundred grand at my age?"

Pause.....

 

"I thought you said it was paid for and you live in Oz?"

"Yes."

"Well how much have you got it up for?"

"479"

Longer pause!.......

 

Doctor again: "Look, you don't come from a rich family, isn't 379 grand to spend at 61 more than you could have hoped for in your wildest dreams when you first got married?"

 

" Yes but it's not fair. They have to get the housing market going again. If it's not sold by November I'm renting it out. Sod it"

 

 

 

Nick

 

House prices are sticky - this type of thinking is the reason why.

 

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By the way, if anyone has posted anything directed towards me and received no reply, it's because I have almost no time to read on here at the moment :angry::(

 

Not because I'm being impolite.

 

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As some predicted in the last thread, Jim Rogers seems to second that, last checked it was down to $887. I will hold on to buy anymore for the time being as whenever I have bought its at its peak :( & then its fallen quiet a bit!!! :lol:

 

 

 

Why are Glod Prices Falling ??? Gold may go down to $700 !

 

Friday, May 1, 2009

Wall Street King and Commodity Legend Jim Rogers Jim Rogers, chairman of Rogers Holdings, said he is concerned some institutional gold reserves may be sold , namely the IMF gold stocks...

 

“I own some gold, but I am not buying at the moment because the IMF, which is one of the largest owners of gold in the world, is desperate to sell its gold,” Rogers said in an interview with Bloomberg radio this morning “I’m not selling my gold.”

 

The IMF “is trying to get permission from everybody,” Rogers said. “If and when they sell their gold, they may set a bottom. Who knows? It may go down to $700. They got a lot of gold to sell. If it does, I hope I’m brave enough and smart enough to buy more.”

 

 

http://www.jimrogers.tk/

 

 

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What has the falling price of "Glod" got to do with gold price? Why cant these guys spell? On Jim Rogers blog too.

 

Its a bit quiet round here, has someone died? Let me guess, everyones worried that golds going to go down and they dont want to talk about it?

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Im going to keep my eye on his guy to see if hes on the ball. Hes bullish on gold and silver.

http://www.youtube.com/watch?v=BYf0ZkfxRUc...feature=channel

http://www.youtube.com/watch?v=tH7nxrzRhuo...re=channel_page

 

His bullish views are on gold and silver ETFs, GLD. Does this mean that its irrelevant to physical gold and silver spot prices?

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I seems to me that many believe there will be a pull-back to 800 or 750 - or even lower as the (false) dawn of recovery is talked about. For Bullion Vault or Gold Money accounts where trading spreads are not too high, there may be a case for selling now and buying in at the lower price ( if you have the nerve) but for physical with the wide spreads I cannot see any point in selling unless you believe that the price is going very low in the near future.

 

I was in my local tool shop yesterday chatting with the owner and it seems that sales are picking up a bit on high-cost woodworking tools. The interesting thing is that he says that people are paying with cash or debit cards NOT credit cards as they say they may as well buy tool X now as they are getting bugger-all interest on their savings. Makes sense but I was really surprised when he said that many have commented on a fear of high inflation to come. This is Joe - public who are not supposed to be so savvy!

 

I wonder how much spending in the high-street is now being done by such people - my suspicion is that it is making a big difference to what would otherwise be a deep fall in spending.

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Great article. I agree, talk of gold going TO $2000 is crazy talk :D

I agree 100%. Who on here would really sell for $2,000??

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http://www.bloomberg.com/apps/news?pid=206...id=ansCeuvebmvU

 

 

Gold May Be ‘Off to the Races’ Above $950: Technical Analysis

 

May 3 (Bloomberg) -- Gold may be “off to the races” if prices break resistance levels at $950 to $960 an ounce, according to Jeffrey Rhodes, a Dubai-based trader with International Assets Holding Corp.

 

Prices may surpass $1,200 an ounce this year, more than the record $1,032.70 reached in March 2008, Rhodes said. Gold peaked at $1,006.29 this year on Feb. 20. Gold’s support level is at about $850 an ounce, he said. Support is where buy orders may be clustered and resistance is where there may be sell orders.

 

“A number that would get everyone very excited would be $1,005 an ounce,” Rhodes said in an interview April 27.

 

Gold for immediate delivery has advanced for eight consecutive years, the longest winning streak since at least 1948. Investment in the SPDR Gold Trust, the biggest exchange- traded fund backed by gold, almost doubled in 12 months and overtook Switzerland as the world’s sixth-largest gold holding. Gold has gained 0.5 percent this year to $886.55 an ounce at the close of trading May 1.

 

To contact the reporter on this story: Anthony DiPaola in Dubai at

 

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I agree 100%. Who on here would really sell for $2,000??

 

Me! I would! :rolleyes: Ok maybe not all of it. We are talking about silver here?.....

 

 

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Nelson: The perfect date with a gold-diggerIgnoring the cloud of sandflies looking for fresh blood, I slid my pan into the clear waters of the Buller River, swirled it around skilfully, and began to wash out the mud, sand and stones ... when suddenly, much sooner than I had expected, I saw the glint of gold at the edge of the debris. Weehaa. Paydirt.

 

New Zealand Herald

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Its a bit quiet round here, has someone died? Let me guess, everyones worried that golds going to go down and they dont want to talk about it?

I think a few no longer have the expectation that gold will explode any moment to hitherto unheard of heights. It may be a good few months, or a year or two before we see pog go high and stay high. That said, bit of excitement in metals today. I wouldn't be surprised to see gold spike up a little given that so many are short term "bearish" [though remaining long term bullish] at the moment.

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I think a few no longer have the expectation that gold will explode any moment to hitherto unheard of heights. It may be a good few months, or a year or two before we see pog go high and stay high. That said, bit of excitement in metals today. I wouldn't be surprised to see gold spike up a little given that so many are short term "bearish" [though remaining long term bullish] at the moment.

For the record, I think gold will go through $1000 in Mid June on it way to $1350. Which is quite soon enough and to never seen before heights.

 

Mid June should be the completion of the right shoulder on the IHS correction pattern which has being going on for a year now.

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For the record, I think gold will go through $1000 in Mid June on it way to $1350. Which is quite soon enough and to never seen before heights.

 

Mid June should be the completion of the right shoulder on the IHS correction pattern which has being going on for a year now.

 

i would love to agree with you pix but the cynic in me is saying that gold has been let out of the bag temporarily so when the stress tests results come out and show everything is 'fine' <_< , gold can be smack'down good and proper just for effect.

 

like i say i would love for you to be right but my fed antennae is picking up something else

 

long-term, physical holders just get another buying opportunity whilst the crimex games continue

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For the record, I think gold will go through $1000 in Mid June on it way to $1350. Which is quite soon enough and to never seen before heights.

 

Mid June should be the completion of the right shoulder on the IHS correction pattern which has being going on for a year now.

Errol just posted this on Goldfingers old HPC gold thread, which I found encouraging and in agreement with your views. Also featured on Jims site

BIG MONEY MOVING INTO COMEX GOLD & SILVER CALL OPTIONS

By Adrian Douglas

 

In November 2005 when gold was trading about $450 I predicted the mega-move in gold up to $720/oz by noticing a very large build-up of call options in the HUI component shares.

 

In August 2007 I identified a massive Gold call option build-up in the COMEX DEC 2007 contract and predicted a big gold move. Gold was trading at $660/oz at the time and ran up to over $1000/oz by March 2008.

 

In July of 2008 I noticed a similar build-up in the COMEX December Call options indicating a major upward move in gold before the end of 2008. Considering what transpired in the financial markets from July to December 2008, after I made this prediction, it made perfect sense. We now know, however, that two large banks, probably JPMorgan and HSBC, sold a massive amount of futures short in July 2008 equivalent to 10% of global gold production and changed the intuitive direction of the gold market into a counter-intuitive one. As a result the CFTC was obliged to take note and commenced an investigation into both the silver and gold markets on the COMEX for manipulation. So I think a rain-check is deserved on the 2008 market call until the CFTC officially declares the manipulation or the market blows up (I think the latter will happen before the former!)

 

It just recently came to my attention from two different confidential sources that JPMorgan and Goldman Sachs have been buying large amounts of Calls in gold and silver. This made me put on my gumshoes and take a serious poke around the COMEX option open interest once again.

 

Figure 1 shows the cumulative Open Interest across all strike prices for the COMEX Gold Call positions and the Put positions for the JUN 09 options.

 

 

I conclude that smart money is being placed for a massive rise in the gold price in the next 30 days and silver in the next 60 days (which probably means within 30 days for both metals) and again by December. I wouldn’t be surprised to see a pullback in between the two events. This money could not go in to the futures market without blowing the lid off the price as it would represent such a large increase in open interest. Going into the out-of-the-money option market allows flying below the radar.

 

http://www.lemetropolecafe.com/Pfv1.cfm?pf...drian%20Douglas

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