GOLD

[grumpy-old-man]

You can in the USA, they'll take anything!

 

now that would have presented me with some interesting opportunities, if I would have been stateside.

[nicejim]

You lucky ,lucky bast*** why do you get the ignore button from not so nice jim and not me he trolled me on the IS--RA--EL thread and is still going i really thought he was'nt able to read so had to ask the question......

I didn't troll CDSwamp, I asked if he'd like to discuss his claims. If he hadn't made stuff up and was able to proceed without contradicting himself then he might have gone along with it.

 

I didn't troll the IS--RA--EL thread, I was trying to help you see that your first post there was not a good way to start a discussion, and that you'll not get respect from others if you behave that way. Wait for the red mist to pass, re-read the thread and you'll see me in a new light. I was also hoping for an apology for the insult you gave to the whole forum in post#1, a troll-like post if ever I saw one!

 

I gather you two have a background in conspiracy websites where often one or more Gurus announces far-out "facts" about how the world works and the sheeple uncritically drink up the koolaid. Perhaps you have decided to become gurus yourselves now, but I wish you could go about it in a more adult manner than that. You and CDSwamp have some interesting contributions to make, and there is even a forum specifically for them where your guruhood would no doubt be conferred if you qualify. You'll certainly have to be able to survive a level of criticism on this site, but testing your opinions makes them stronger.

 

Attempting rational discussion about far out theories with people who have no basis for their beliefs is like talking to a drunk man. You don't know what they're going to say next but you know it won't make any sense and you feel they could lash out at any time. After a while it's best just to leave them alone whilst they piss down their leg, but it can ruin an evening all the same.

 

 

OFF TOPIC:

 

What's your avatar?

It's from the board avatar library.

 

 

I was looking forward to golds new highs being mentioned by this evenings news bulletins....nope, apparently it's not news worthy.

It was on 5Live news a few times this morning.

[grumpy-old-man]

I hear ya, I know a lot of folks that have maxed out their credit cards and loaded up on gold and silver. They are well in profit now. Wish I could have done the same tbh, but then again I don't really want to be on margin. I expect many folks will go bankrupt and get to keep the metals too!

 

 

 

 

disclaimer, well it's ok to rip the banksters off....right ?

 

2nd disclaimer - I am kidding...obviously.

[BelfastBoy]

No (at least not much). It's simply undervalued. The price could easily be $5,000 - $12,000 (with no further money printing).

Hi GF,

 

Been thinking about your post above. As you may remember I am interested in targets and exit strategies. One exit signal I will be watching is the house price/gold ratio of 100. Surely even the lower target of $5000 would mean that the average UK house price would fall far below 100 ounces?

 

I expect UK house prices to stop falling around £130,000. So I also expect gold to double from here to £1300 t/oz ($2000) to make 100 ounces equal to the average house.

 

Do you see the ratio going a lot lower in this cycle? If so why?

 

(sorry for the silly questions )

[G0ldfinger]

Hi GF,

 

Been thinking about your post above. As you may remember I am interested in targets and exit strategies. One exit signal I will be watching is the house price/gold ratio of 100. Surely even the lower target of $5000 would mean that the average UK house price would fall far below 100 ounces?

 

I expect UK house prices to stop falling around £130,000. So I also expect gold to double from here to £1300 t/oz ($2000) to make 100 ounces equal to the average house.

 

Do you see the ratio going a lot lower in this cycle? If so why?

 

(sorry for the silly questions )

Not silly. There are no certain answers anyway. What I do is, I believe in long term cycles that swing from one extreme to another, around an equilibrium. Such a cycle is houses measured in real money, i.e. gold. The following chart gives you an idea of what's going on (the chart is not-up-to date):

 

See also: http://gold.approximity.com/gold_charts.html

 

For an up-to-date ratio go to: http://gold.approximity.com/since1968/UK_H...es_in_Gold.html

 

I see no reason why houses should not go below 130,000 pounds on average over the short- to mid-term.

 

BTW, see also my signature for exit-signal considerations.

[Pixel8r]

This from Ed Steer's gold and silver daily - Subscribe here

 

 

Up, Up and Away???

 

After gold's [and silver's] little run-up in price during early morning trading in Hong Kong yesterday morning, neither metal did much of anything until the London a.m. gold fix was in at 10:30 a.m. in London [5:30 a.m. in New York]. Then the rally that everyone was waiting for, began. Both metals rose right up until the close of trading in London [11:00 a.m. New York time], and then their respective prices made the usual turn to the right and softened slightly. There was a rally in electronic trading about 3:00 p.m., but it failed to reach the previous high set earlier in the day.

 

Silver was the big star of the day, up 4.33% against gold's up 2.42%. The HUI shone... up 7.00%. There were lots of happy smiling faces yesterday... including this writer.

 

But volume in both metals was monstrous. Ted Butler mentioned something about 185,000 contracts in gold were traded yesterday. I'm sure silver's trading activity was similar. This rally is not going unopposed. The bullion banks are going short against all comers in this rally so far. If they hadn't shown up... or were covering their short positions instead, the charts would have showed pretty much a vertical line pointing to the heavens. I hate to say it, but 'da boyz' are still there.

 

lemetropolecafe.com had these comments about open interest for Monday's trading... "The gold open interest ROSE 7,385 contracts yesterday, which means the late surge was new buying and not Gold Cartel short covering. It tells me we are in the midst of a Commercial Signal Failure in which the shorts trading with the cabal are going to be forced to cover in the weeks ahead, which will add fuel to the gold fire. Silver open interest went up a scant 359 contracts to 126,917, which further suggests the gold buyers were so active because they knew the currency story was going to hit the tape today."

 

The Comex reported 16 gold contracts will be delivered today... and it appears that since the CME took over, they've stopped reporting silver deliveries. Maybe they've hidden them in some other report. I will see what I can find out. Over at the GLD ETF, another 78,467 ounces were added... and, of course, there were no changes at the SLV ETF. Ted Butler feels that the SLV is now owed well north of 30 million ounces. There were no changes reported by the U.S. Mint yesterday, and the Comex-approved warehouses showed that a smallish 73,032 ounces were reported taken into inventory.

[LauraB]

I expect UK house prices to stop falling around £130,000.

 

 

 

Based on?

 

Sorry BB, this a gold thread so I should not ask

[d2thdr]

Why is this thread called a 'Gold Trading Thread'? Trading is the last thing on my mind and I visit this forum to read primarily about PM. I do not understand trading. I am sure there are many like me on here.

[nicejim]

Based on?

 

Sorry BB, this a gold thread so I should not ask

In the context of the price of gold when it peaks in terms of housing, why not?

 

The chart on the HPC homepage shows that the last 2 troughs each fell below their preceding 2 peaks. If that happens again we'll go below £130k in real terms.

[G0ldfinger]

Why is this thread called a 'Gold Trading Thread'? Trading is the last thing on my mind and I visit this forum to read primarily about PM. I do not understand trading. I am sure there are many like me on here.

Welcome to the club!

 

Why is the gold thread suddenly a gold trading thread ONLY??

 

 

I don't want to trade gold. If I wanted to trade, I would only trade Poople or Micropoop, for cr@p's sake.

 

And why is the undertone/-title ONLY bearish again?

 

Can we at least let the thread title be NEUTRAL?

 

 

 

(This is too much for me so early in the morning with a head cold lingering!)

 

[LauraB]

In the context of the price of gold when it peaks in terms of housing, why not?

 

The chart on the HPC homepage shows that the last 2 troughs each fell below their preceding 2 peaks. If that happens again we'll go below £130k in real terms.

 

I know that (been there), you know that. It's the mentality that conjures up these Canute-like lines in the sand that fascinate me

[G0ldfinger]

If you want to understand the situation in gold, read this little article.

 

Somali pirates = gold Cartel, commercial shorts

French marine = China, physical buyers

 

http://www.wect.com/Global/story.asp?S=11271385

Somali pirates attack French military vessel

Posted: Oct 07, 2009 12:27 PM Updated: Oct 07, 2009 2:47 PM

...

PARIS (AP) - Somali pirates in two skiffs fired on a French navy vessel early Wednesday after apparently mistaking it for a commercial boat, the French military said. The French ship gave chase and captured five suspected pirates.

...

"They understood their mistake too late," Prazuck said.

[wren]

On 7 Oct last year the failure of RBS almost caused a meltdown in the UK.

 

I thought it interesting to look at the gold thread around then.

 

The thread was worrying about gold going down even more. Then later rockets were flying.

 

Steve posted an audio file (now a dead link) with Jim Willie:

I got word in the last 24 hours, that the Europeans, Russians, Chinese and Arabs have agreed to a new world currency.

Quite a good thread. Page 17 with Steve's quote at the top:

 

http://www.greenenergyinvestors.com/index....4442&st=320

[romans holiday]

Welcome to the club!

This is an idea. There should be a thread [club] for the gold bugs and then another for the gold bulls [traders/ hedgers]. I am sure that most would post on both, and by separating the threads a certain propriety could be observed whereby one took into account which thread one was posting on.

[G0ldfinger]

.. gold bugs and then another for the gold bulls ...

That seems artificial. I would rather try to separate short-term/instant gratification thinking from long-term thinking.

[TrueNorth]

New today from Stewart Thompson courtesy of 321gold:

 

Gold: Hour of Power

 

13. What is happening now is a similar situation to what the bankers did with the Dow, but with the US dollar, the world's largest market. This is their showcase play. Gold is the world's smallest major market. The bankers, who are massively long gold, are creating a situation where the public is being indoctrinated in the view that the US dollar is finished, a very similar view to the view the banksters created with their "here to stay" stock market of the 1990s. Most importantly, that view is now being pushed on, and accepted by, institutional money. It is being accepted because the banksters are really damaging the dollar fundamentally with their money printing games.

 

14. The key point is that the US dollar bear market is now entering the stage of a publicly recognized and PROMOTED bear market. As of right NOW, you will start to hear from business owner investor acquaintances about the US dollar bear market. These idiots will parrot the Bloomberg stories, nodding their heads up and down, completely ignoring the fact that the dollar is down about 35% from the highs set about 7 yrs ago. NOW they show up and notice there's a problem with the US dollar? We are in the later, most horrific stage of the US dollar bear market. The stage where the banksters begin buying USD with their infinitely deep pockets, while the institutions and public bail in terror and accelerate their doomed-to-fail leveraged carry trade scheme. Soon the banksters will be selling OTC derivatives on the US buck shorts, collecting, fees and interest before finally burning the thing into the ground via a new gold standard that will end the US dollar short party like a tomato hitting a cement wall.

 

15. It's very important to stay focused on what the charts are indicating and buying gold weakness and selling gold strength only. This is the largest bankster play ever, as they load up on the US dollars sold by the bustout dollar bag holders worldwide who follow the bankster propaganda that the USD is "finished for the long term."

[TrueNorth]

New today from Stewart Thompson courtesy of 321gold:

 

Gold: Hour of Power

 

13. What is happening now is a similar situation to what the bankers did with the Dow, but with the US dollar, the world's largest market. This is their showcase play. Gold is the world's smallest major market. The bankers, who are massively long gold, are creating a situation where the public is being indoctrinated in the view that the US dollar is finished, a very similar view to the view the banksters created with their "here to stay" stock market of the 1990s. Most importantly, that view is now being pushed on, and accepted by, institutional money. It is being accepted because the banksters are really damaging the dollar fundamentally with their money printing games.

 

14. The key point is that the US dollar bear market is now entering the stage of a publicly recognized and PROMOTED bear market. As of right NOW, you will start to hear from business owner investor acquaintances about the US dollar bear market. These idiots will parrot the Bloomberg stories, nodding their heads up and down, completely ignoring the fact that the dollar is down about 35% from the highs set about 7 yrs ago. NOW they show up and notice there's a problem with the US dollar? We are in the later, most horrific stage of the US dollar bear market. The stage where the banksters begin buying USD with their infinitely deep pockets, while the institutions and public bail in terror and accelerate their doomed-to-fail leveraged carry trade scheme. Soon the banksters will be selling OTC derivatives on the US buck shorts, collecting, fees and interest before finally burning the thing into the ground via a new gold standard that will end the US dollar short party like a tomato hitting a cement wall.

 

15. It's very important to stay focused on what the charts are indicating and buying gold weakness and selling gold strength only. This is the largest bankster play ever, as they load up on the US dollars sold by the bustout dollar bag holders worldwide who follow the bankster propaganda that the USD is "finished for the long term."

[romans holiday]

That seems artificial. I would rather try to separate short-term/instant gratification thinking from long-term thinking.

Then maybe we need three threads...... another for the hedgers.

 

But, I think some kind of distinction along these lines would be useful and would facilitate a more constructive discussion of what is after all a very complex issue.

[TrueNorth]

Is that a head and shoulders in today's gold chart?

[alexreeve]

Off topic, Off topic! Off to the Gulag with you!!!

lmao

[fitkid]

THE SCORES ON THE DOORS

SITTING BULLS 2

MUSICAL CHAIR GAMBLERS 0

 

 

Gold rallies to new record high on rising investment demand.

 

 

NEW YORK (MarketWatch) -- Gold futures soared to a record high just below $1,050 an ounce Wednesday, as investment demand rose and as the U.S. dollar remained relatively weak.

 

Holdings in the SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 102.23, -0.05, -0.05%) , the biggest exchange-traded fund backed by gold, rose for a third straight session to reach the highest level in three weeks.

 

 

'Gold has significant upside potential into 2010.'

 

 

 

Jason Kotick, Barclays Capital

 

In foreign-exchange dealings, the dollar rebounded slightly against the euro and the Japanese yen, but the dollar index /quotes/comstock/11j!i:dxy0 (DXY 76.46, +0.12, +0.16%) remained below the 77 mark. See Currencies.

 

Gold for October delivery surged to an intraday high of $1,048.20 an ounce, a new record for front-month gold futures. The contract was last up $3.90, or 0.4%, at $1,042.50 an ounce on the Comex division of the New York Mercantile Exchange.

 

Gold prices, as gauged by Comex front-month futures, have risen 18% this year.

 

Gold for December delivery, the most actively traded contract, gained $3.10, or 0.3%, to $1,042.70, a partial retracement after hitting an intraday high of $1,049.70.

 

"Gold has significant upside potential into 2010," said Jordan Kotick, an analyst at Barclays Capital, in a note. Technical analysis indicated that "resistance currently is at $1,370; history suggests a run at $1,500."

 

In the coming weeks, gold is likely to rise as high as $1,120 an ounce, he added.

 

Investors piled into gold ETFs as prices have been hitting new highs. Holdings in SPDR Gold Trust rose to 1,100.51 metric tons on Tuesday, up 2.44 metric tons from a day ago. Holdings stood at the highest level since Sept. 23.

 

Underscoring investors' interest, Credit Suisse launched on Tuesday its first physically backed gold-exchange-traded fund.

 

The new Gold Xmtch ETF, listed on the SIX Swiss Exchange, is in U.S. dollars and can be hedged in Swiss francs and euros. The fund invests in physical gold without using derivative instruments.

 

/quotes/comstock/13*!gld/quotes/nls/gld

GLD 102.23, -0.05, -0.05%

 

 

120100806009MMJS"The prime driver of the recent rally in the gold price ... was the weakening of the U.S. dollar," wrote analysts at Nomura International in a note to clients.

 

There is a very strong inverse relationship between the U.S. dollar and gold prices. When the dollar falls, gold prices tend to rise.

 

Gold's Wednesday highs topped the earlier record hit on Tuesday, when the dollar slumped on a report suggesting the end of dollar-based oil trading and as Australia hiked interest rates.

 

Also in metals trading Wednesday, December silver futures rose 5.5 cents, or 0.3%, to $17.35 an ounce. Silver prices have rallied nearly 55% in the year to date.

 

October platinum gained $7.20, or 0.6%, to $1,325.30 an ounce, and December palladium rose $3.90, or 1.3%, to $314.20 an ounce.

 

Bucking the trend, December copper fell 1.95 cents, or 0.7%, to $2.765 a pound.

 

Harmony Gold raised to buy at Nomura

In other news, Nomura International upgraded on Wednesday Harmony Gold Mining Company Ltd. /quotes/comstock/13*!hmy/quotes/nls/hmy (HMY 11.37, -0.38, -3.23%) /quotes/comstock/!har (ZA:HAR 8,601, +601.00, +7.51%) to buy from neutral, saying it has the highest leverage to the appreciation of gold and it is the best value among South African gold equities.

 

"While we generally agree that in the long run physical gold beats equities, we believe Harmony Gold and Polyus Gold offer attractive buying opportunities for the next 12 months," wrote the Nomura analysts. They reiterated a buy recommendation on Moscow-based Polyus Gold /quotes/comstock/11i!opygy (OPYG.Y 24.67, +0.47, +1.94%) .

 

Nomura also downgraded both AngloGold Ashanti Ltd. /quotes/comstock/13*!au/quotes/nls/au (AU 44.24, -0.55, -1.23%) /quotes/comstock/!ang (ZA:ANG 32,361, +1,842, +6.04%) and Gold Fields Ltd. /quotes/comstock/13*!gfi/quotes/nls/gfi (GFI 14.81, -0.08, -0.53%) /quotes/comstock/!gfi (ZA:GFI 11,058, +758.00, +7.36%) to neutral from buy, citing recent rallies in the two South Africa-based companies.

 

The bank also initiated coverage of Russian gold and silver producer Polymetal /quotes/comstock/11i!poymy (POYM.Y 8.00, 0.00, 0.00%) with a neutral recommendation.

 

Polyus Gold and Polymetal are both listed on the London Stock Exchange as well as on the RTS and Micex exchanges in Moscow.

 

Polya Lesova is reporter for MarketWatch, based in Frankfurt.

 

Moming Zhou is a MarketWatch reporter based in New York.

 

 

 

[Pixel8r]

If you want to understand the situation in gold, read this little article.

 

Somali pirates = gold Cartel, commercial shorts

French marine = China, physical buyers

:lol:

 

 

[fitkid]

My good deed for the day

spoken to a supplier in birmingham see below he has some small swiss bars,sovs, krugers.You will not meet more of a gentlemen than the owner his name is bruce its a family business being trading since the 70s any newbies or people wanting advice in purchasing physical gold this is one the most honest man i have spoken too.Will sell at SPOT.

 

http://www.consortium-jewellery.co.uk/

 

CONSORTIUM JEWELLERY

A family-run business, established in 1975, Consortium is a premier retailer based in Birmingham's historic Jewellery Quarter.

 

Rings, bracelets, chains, brooches, watches etc.

Unusual pieces available or made to order

Specialists in heavy chains & bracelets

Huge range of stock on display

Friendly, helpful, efficient and knowledgable staff

Relaxed atmosphere - no pressure selling!

Quality secondhand wristwatches always available

Only a few yards from the Metro station.

Five minutes walk from clock tower.

Ample parking outside.

Consortium Jewellery Ltd. 39 Vyse St., Hockley, Birmingham B18 6JY Tel. 0121 554 9297 or 0121 693 9297

 

 

 

[fitkid]

Lot of new companies popping out of the woodwork - THEY know what is coming it seems to me - full page ads in the mirror and sun, several half page ads ditto - TV ads, which don't come cheap - I personally think the BOYZ are getting ppl to front up these companies so the BOYZ can hoover up gold on the cheap - things are ramping up and whenever that happens in any hot market the con merchants come out in force. So take precautions, buy from old established companies, use a credit card so that you are covered by distance selling regulations etc etc and you should be ok.

YOU ARE TRULY ILLUMINATED GOOD SIR

[fitkid]

LOL, this is pure gambling. This move has caught out all the chartists, Ker, RH, Bubb, Fizzers, because they are not doing the geopolitics research, not listening to the rumbles about a new currency (50pc gold-backed according to Max Keiser's contacts), not studying the history of gold and basically not listening to folks that do the research and are clued up.

TIME TO REALISE WE ARE IN A VERY DIFFERENT WORLD NOW.Need to put the charts away and take a look out of the window THEY USE TO SAY "YOU CANT SEE THE WOOD THROUGH THE TREES" NOW ITS "YOU CANT SEE THE GOLD THROUGH THE CHARTS"