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Bubb should do one!

Bubb isn't into juniors these days, he has sold most of his which is a shame.

 

 

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Martin Armstrong, Gold $5000+

 

Yes. IMO that is almost a certainty over the next 10 years.

 

Care to hazard a guess at what that figure will be in GBP?

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Care to hazard a guess at what that figure will be in GBP?

 

GBP is in trouble as well. I would expect well in excess of £1000 an ounce (eventually).

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GBP is in trouble as well. I would expect well in excess of £1000 an ounce (eventually).

Is that all Errol.!!!

What are you basing that expectation on.?

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GBP is in trouble as well. I would expect well in excess of £1000 an ounce (eventually).

 

i can honestly see it reach £1000 some time next year - the pound doesn't have to fall very far for that to happen.

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QUOTE (Errol @ Nov 14 2009, 09:45 AM)

Just people who know that gold is going to £5000 an ounce.

 

That's more like it. ;)

Yes. GBPUSD might go to 1:1 anyway, so any Dollar guess becomes a Sterling guess. I don't at all think that £1,000 will be the max. :)

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http://www.marketoracle.co.uk/Article15040.html

 

Quote

FED meetings are recorded word for word and the transcripts made public after five years. The quote is contained in one of these very transcripts. Apparently Greenspan spoke informally with his colleague Mullins during the course of the meeting. He reported this conversation to his other colleagues. Greenspan mentions the treasury, since in the USA, only the treasury and not the Federal Reserve can dispose over gold. The market price of gold was increasing at the time. In his unique, somewhat verbose style Greenspan said:

 

"I have one other issue I'd like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here. If we are dealing with psychology, then the thermometers one uses to measure it have an effect. I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market. There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.”

 

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I've been extremely busy the last few weeks but I will try and construct a scientific reply once I've gathered my thoughts. As a point of interest, aren't you concerned you may miss out on a parabolic move up in the gold market at some point?

 

Not easily in a few lines of text. Its about reading widely, and baking in experience and intuition. Its the 'art' of investing, not the science!

 

Hence, everything is with a masive ...IMHO

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$1129 Now.

Well I think a massive lesson has just been made here. IF you are looking at investing in gold as a means to preserve your wealth and do not have a sizable core position already DO NOT TRY TO TIME THIS MARKET! The price of gold back in May through August was a gift from god and perhaps one of the last great opportunities to load up at sub £600.

 

All through that time we had various theories as to why gold was going to dip below £500 or even go to £400. We are now just 4% off the all time high in GBP!!!

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Thrust is Go, all engines. It's looking good.

 

After the talks with Obama, I think the Chinese have spoken directly to the gold market...

 

 

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http://www.telegraph.co.uk/finance/currenc...r-weakness.html

 

"Someone had an interest in making a new high," said Michael Kempinski, a trader at Commerzbank. "Technically it's looking quite good now ... quite bullish levels."

 

"There is no bullish news that can give a reason for the move, so maybe someone is playing games and trying to protect their position," he added. "$1,150 is the next level."

 

Is this the Chinese and the Indians?

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As a point of interest, aren't you concerned you may miss out on a parabolic move up in the gold market at some point?

My goal is to preserve my wealth [which is what we keep hearing gold is about], not to get rich! [which is what many here seem to actually be hoping for].

 

My past buying/selling of gold has already significantly increased the number of GBP I own (doubled my investment after tax: equivalent of 15 years of max-capacity saving), and so that means I have already secured a future 'preservation of my wealth'.

 

So now its time to reduce the risk profile of my GBP allocations. For that reason, 90% of my fiat is going into property (UK and Switzerland), plus extending this with ~25% mortgage. Over the next 20 years, this asset class will preserve its real value and bring a considerable income (BTL components). Any nominal value change from here will be minimal (20% down), slow (taking years), and transient (within 10 years prices will be higher - especially Switzerland). So risk is absolutely minimal.

 

Given the future I am expecting (deflationary pressures for 2-4 years, followed by significant global inflation, especially in UK), this plan will work fine, whilst fiat gets undermined. Meanwhile, I might miss out on a 50% further gain in GBP gold from here, but for this to have a massive impact on my overall wealth I'd have to have 50% of my GBP in gold, and that would mean I couldn't hold these properties and the benefits they bring. Furthermore, gold will drop by 50% in a year at some stage - and one can never be sure of getting out before that drop occurs ...i.e., big risk!

 

Finally, if we do enter some hyper-inflationary period (I do not think this is at all likely), I still have 6% of my wealth in gold and 8% in energy investments, and could divert additional cash from my offset mortgage savings to add to this. So I have that backup. Plus the house prices will soar in nominal terms.

 

Most critically of all - I sleep well feeling financially secure and pretty much immune to whatever happens, I have a safe job, and I will have a lovely home for the family. Beyond that, my financial dabblings are just a casual hobby - which is why I post less often on GEI these last several months.

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When it comes to gold, history itself wears a tin-foil hat

 

Dear Friend of GATA and Gold:

 

Thanks to 24hGold.com for calling attention to two fascinating pieces of the history of gold as money.

 

The first is a long article from the February 12, 1965, edition of Time magazine describing French President Charles de Gaulle's active resentment of the debasement of the U.S. dollar and his suggestion that the West return to some form of the gold standard. The article is headlined "Money: De Gaulle vs. the Dollar" and you can find it at Time's archive here:

 

http://www.time.com/time/magazine/article/...40572-1,00.html

 

Then there is a history of the London Gold Pool of the 1960s written by gold market analyst Phillip Judge in 2001 and posted at the Internet site of the Anglo Far-East Bullion Co. Judge's article is headlined "Lessons from the London Gold Pool" and you can find it at the Anglo Far-East Internet site here:

 

http://www.anglofareast.com/0139.html

 

Together the two articles suggest that gold is the secret center of the world financial system, the ultimate power in the system, a power provoking among governments an irresistible urge to try to get it under control. Anyone who asserts as much today is likely to be derided as some sort of nut case by the financial establishment. But as it turns out, when it comes to gold, history itself is wearing a tin-foil hat.

 

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

 

 

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This can only mean for the long term investors that the price of gold is going a lot higher, as central banks have been making up the mined gold shortage for years with their selling.

 

Jim Sinclair has been saying for years that as the price of gold goes up that the central banks would become buyers again, he is being proved correct.

 

BlackRock says c.banks to be net buyers of gold

 

By James Regan

 

SYDNEY (Reuters) - Central banks will be net buyers of gold this year as they diversify away from the U.S. dollar, marking a reversal of a decades-old trend, global commodities investment fund BlackRock said on Monday in comments that helped drive bullion to fresh record highs.

 

Investment in gold by central banks has picked up recently, with India buying 200 metric tons from the International Monetary Fund, and Taiwan's central bank is studying whether to raise the amount of gold in its forex reserves, with China and South Korea also debating the issue.

 

BlackRock is one of the world's largest fund managers, boasting a total $1.4 trillion under management across all asset classes. It is manager and adviser to the U.S. Federal Reserve and its views can influence the direction of global markets.

 

Evy Hambro, who runs two of the world's largest commodities funds, BlackRock World Mining Fund and Gold & General Fund, gave an upbeat outlook for gold during a media briefing in Australia.

 

His forecast for net central-bank purchases of gold this year would, if met, mark the first year in two decades when the world's central banks bought more gold than they sold. They have been net sellers each year since 1988.

 

Gold stored in central banks worldwide has dropped more than one-sixth since 1989.

 

"The most recent break-out in the gold price in U.S. dollars has caused most gold prices to start trending higher at the same time," Hambro said, adding that investors were now looking for gold to rise in other commodities as well as U.S. dollars.

 

"When you start to see the price rising in a range of different currencies, it is a clear sign of a very strong market to come," he added.

 

Spot gold stood at $1,123.70 by 9:16 p.m. EST after touching $1,126.30 per ounce, a record, versus the notional New York close of $1,118.50, helped higher by Hambro's bullish outlook, according to financial broking group IG Markets.

 

Bullion has been on an upward spiral as a hedge against the U.S. dollar's weakness and rising inflation risks, traditional reasons to lap up gold.

 

Based on the dollar index of major currencies, the U.S. dollar has dropped 7.5 percent this year versus a 33 percent rise in the U.S. dollar gold price.

 

In other currencies, gold has not reached new highs since early 2009. In Australian and Canadian dollars and the South African rand, it peaked in February.

 

But Hambro said investors were now "looking for price rises across all currencies" as central banks built up their gold holdings and global supplies tapered off.

 

"Gold's role is gathering a lot more attention in terms of risk diversification," he said.

 

By 1999 central bank selling was so commonplace that the big European banks signed a pact capping sales at 400 metric tons a year to keep the price from collapsing. Continued...

 

 

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Thrust is Go, all engines. It's looking good.

Do you think that there will be the normal seasonal pull back in spring next year cgnao or do you think it will skip it?

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