GOLD

[sash777]

Highest fix was £690.35 on 20th Feb.

Just touched £688.05, been a big push upwards in virtually all currencies this evening. Very very close - and as someone else said - £ is much higher against $ than it was in Feb.

[electroweak]

My RBContraIndicator© is twitching....

http://www.housepricecrash.co.uk/forum/ind...howtopic=130684

any other confirmatory signs?

[HPCSucks]

Just touched £688.05, been a big push upwards in virtually all currencies this evening. Very very close - and as someone else said - £ is much higher against $ than it was in Feb.

Maybe this will be the week.

[HPCSucks]

My RBContraIndicator© is twitching....

http://www.housepricecrash.co.uk/forum/ind...howtopic=130684

any other confirmatory signs?

Just need BigT to wade in now.

[fitkid]

Still cooking on gas GBP record looks like it might be taken out tonight.!!

 

 

Price/oz Gold

Chg Gold

Chg%

US Dollar -- 11/19-15:37 -- -- 1144.70 +1.30 +0.11%

Australian Dollar -1.22% 11/19-15:31 1.0887 0.9186 1246.18 +16.39 +1.33%

Brazilian Real -0.13% 11/19-15:03 1.7236 0.5802 1973.00 +4.87 +0.25%

British Pound -0.58% 11/19-15:36 0.6005 1.6654 687.34 +4.73 +0.69%

Canadian Dollar -0.77% 11/19-15:37 1.0631 0.9407 1216.87 +10.70 +0.89%

Chinese Yuan -0.02% 11/19-04:38 6.8236 0.1466 7810.97 +10.70 +0.14%

Euro -0.31% 11/19-15:37 0.6702 1.4922 767.12 +3.27 +0.43%

Hong Kong Dollar +0.00% 11/19-11:11 7.7455 0.1291 8866.27 +9.95 +0.11%

Indian Rupee -1.16% 11/19-09:54 46.7500 0.0214 53514.73 +672.49 +1.27%

Japanese Yen +0.36% 11/19-15:36 89.0050 0.0112 101884.02 -255.90 -0.25%

Mexican Pesos -0.31% 11/19-15:37 13.0475 0.0766 14935.47 +63.04 +0.42%

Russian Ruble -0.30% 11/19-15:31 28.7923 0.0347 32958.55 +134.73 +0.41%

S.African Rand -1.04% 11/19-15:36 7.5300 0.1328 8619.59 +98.40 +1.15%

Swiss Franc -0.34% 11/19-15:37 1.0133 0.9869 1159.87 +5.20 +0.45%

 

 

[fitkid]

No Musings from the living legend KING CGNAo today i for one am disapointed.

Come on Good Sir grace us all with your latest thoughts on where we are along the Hyperinflationary crack up boom path.??

[Pixel8r]

Is $6,300 fair value for gold?

By Ambrose Evans-Pritchard | November 19th, 2009

 

The last parabolic spike in gold took off when central banks joined the fray in the 1970s, hoarding bullion with the same enthusiasm as gold bugs.

Dylan Grice from Société Générale says it smells much the same today.

 

He sees an eery similarity between the decision of India’s central bank to buy half the IMF’s entire sale of gold, and the move by France’s central bank to start converting dollars into gold in 1965 — which was, of course, the start of the slippery slope leading to the collapse of Bretton Woods and the closure of the US gold window under Nixon.

 

In the gold mania that followed, the price rose to levels that matched the US dollar monetary base (it reached 140pc at the peak). If that were to occur today after Ben Bernanke’s go at the printing press, gold would have to reach $6,300 an ounce. The US owns 263m ounces of gold while the Fed’s monetary base is $1.7 trillion. Simple equation.......

 

 

[FWIW]

Still cooking on gas GBP record looks like it might be taken out tonight.!!

 

 

Price/oz Gold

Chg Gold

Chg%

US Dollar -- 11/19-15:37 -- -- 1144.70 +1.30 +0.11%

Australian Dollar -1.22% 11/19-15:31 1.0887 0.9186 1246.18 +16.39 +1.33%

Brazilian Real -0.13% 11/19-15:03 1.7236 0.5802 1973.00 +4.87 +0.25%

British Pound -0.58% 11/19-15:36 0.6005 1.6654 687.34 +4.73 +0.69%

Canadian Dollar -0.77% 11/19-15:37 1.0631 0.9407 1216.87 +10.70 +0.89%

Chinese Yuan -0.02% 11/19-04:38 6.8236 0.1466 7810.97 +10.70 +0.14%

Euro -0.31% 11/19-15:37 0.6702 1.4922 767.12 +3.27 +0.43%

Hong Kong Dollar +0.00% 11/19-11:11 7.7455 0.1291 8866.27 +9.95 +0.11%

Indian Rupee -1.16% 11/19-09:54 46.7500 0.0214 53514.73 +672.49 +1.27%

Japanese Yen +0.36% 11/19-15:36 89.0050 0.0112 101884.02 -255.90 -0.25%

Mexican Pesos -0.31% 11/19-15:37 13.0475 0.0766 14935.47 +63.04 +0.42%

Russian Ruble -0.30% 11/19-15:31 28.7923 0.0347 32958.55 +134.73 +0.41%

S.African Rand -1.04% 11/19-15:36 7.5300 0.1328 8619.59 +98.40 +1.15%

Swiss Franc -0.34% 11/19-15:37 1.0133 0.9869 1159.87 +5.20 +0.45%

 

 

Cable a bit choppy - thought I was looking at a heart monitor just there!

 

Think tomorrow could be another key date for the history books - new EU president and all that. Just in time to lead us out of the mess eh? Think I'll keep voting with my gold!

 

Keep an eye out on the eurodollar and japenese yen.

[FWIW]

No Musings from the living legend KING CGNAo today i for one am disapointed.

Come on Good Sir grace us all with your latest thoughts on where we are along the Hyperinflationary crack up boom path.??

 

The King listens more than he speaks...but when he speaks, boy do we listen!

 

 

[Pixel8r]

Russia's Central Bank set to buy 965,000 oz of gold by yearend

 

 

Russia's Central Bank said on Thursday it is ready to buy 30 metric tons (965,000 troy ounces) of gold at market prices from the country's precious metals depositary Gokhran by the end of the year.

 

Central Bank First Deputy Chairman Alexei Ulyukayev said the means of payment for the gold will depend on the requirements of the Finance Ministry, and will probably be denominated in rubles.

 

Ulyukayev played down fears that the timing of the purchase could prove unfavorable given the current high price of gold, currently over $1,000 per troy ounce on global markets.

 

"They are at the peak levels relative to the previous period, but predictions of price dynamics vary," he said.

 

The Central Bank's announcement to buy up gold comes amid increasing international assets held by the bank, which grew by $7.8 billion in the week of November 6-13 to $441.7 billion. The cash paid for the gold will be used by the Finance Ministry to cover next year's state budget deficit, predicted at 6.8% of GDP.

 

This year Russia is running a deficit of 7.7% of GDP.

 

 

[FWIW]

Here's another joker telling us that gold will be going to $681 in July 2010...

 

Quote

The Bottom Should Occur In July 2010. Once The Gold Price Hits Bottom Below $681.00 The Devastating Explosion Gold Bugs Are Looking For Should Begin.

 

So is $681 the bottom or is below $681 the bottom.....

 

I'm confused....Reinhardt keeps telling us to stop looking for tops and bottoms - it will make you go blind!

 

 

Anyway, just in case this joker is right - I will be keeping some cash handy...At $681 (or under) it will be like a gift from god himself.

[Pixel8r]

The cartel must be getting really desperate now, each time they try to take the market down it just pops straight back up, day after day. They are running out of days now, the shorts have until Monday to cover as it is options expiry day. If the cartel has to buy to cover in a rising market this is going to be sight to behold.

 

We should see some real fireworks over the next week IMO.

[FWIW]

The cartel must be getting really desperate now, each time they try to take the market down it just pops straight back up, day after day. They are running out of days now, the shorts have until Monday to cover as it is options expiry day. If the cartel has to buy to cover in a rising market this is going to be sight to behold.

 

We should see some real fireworks over the next week IMO.

 

They are trying another tack now:

 

http://blogs.telegraph.co.uk/finance/ambro...value-for-gold/

 

Quote

It doubled in the late Medieval bubble, before crashing 90pc over the next 500 years after the Spanish gold discoveries by Cortes and Pizarro in the New World, and then the finds in California, Australia, and South Africa — bottoming around 1930.

 

I think all journo's just flap like a flag in the wind. Except the flag has its uses.

 

So we are all ok investing in gold, until they find a huge field of gold somewhere....hmmmmm.

 

 

[Schaublin]

If I recall, cdswamp identified Ambrose Evans as an Intel plant. The last series of article written by him would seem to back-up cdswamp's claim.

[fitkid]

We dont need god

weve got KING CGNAo

 

SIR PIXEL8R

 

SIR FWIW

 

and

we've Got Gold

[fitkid]

The cartel must be getting really desperate now, each time they try to take the market down it just pops straight back up, day after day. They are running out of days now, the shorts have until Monday to cover as it is options expiry day. If the cartel has to buy to cover in a rising market this is going to be sight to behold.

 

We should see some real fireworks over the next week IMO.

 

[FWIW]

We dont need god

weve got KING CGNAo

 

SIR PIXEL8R

 

SIR FWIW

 

and

we've Got Gold

 

Sir Fitkid doesn't sound right? What shoud we call you oh wise one or Prince FitKid or Lady FitKid ?

 

You have knighted, entertained and elightened me on this journey - you are my trusted counsel who keeps me on the righteous path.

 

 

[G0ldfinger]

Are these drill holes where they looked for the tungsten?

[fitkid]

Sir Fitkid doesn't sound right? What shoud we call you oh wise one or Prince FitKid or Lady FitKid ?

 

You have knighted, entertained and elightened me on this journey - you are my trusted counsel who keeps me on the righteous path.

Your Gracious comments are mutualy recieved SIR FWIW i highly regard your opinion and high council.

Who says their is only discourse and hostility on the GEI boards,amongst the Gold investors their is clearly ownly mutual respect and a quest for the TRUTH.

 

All For one and one for All

 

From: http://www.youtube.com/watch?v=NQHLgJjLEno

 

http://www.youtube.com/watch?v=NQHLgJjLEno

[G0ldfinger]

We dont need god

weve got KING CGNAo

 

SIR PIXEL8R

 

SIR FWIW

 

and

we've Got Gold

Fitkid, do you have all your senses together?

 

Don't fall into any blind followerships. Do your own thinking. DYODD. We all make mistakes, and we should all be humble. And, nothing is 100% guaranteed, even if certain people tell you so. Maybe 99.99%, but not 100%.

 

The essence of this universe is that nothing is certain. The moment of decision is the present. Decision is free will, and free will is not predictable because otherwise it would not be free. In other words, existence is equivalent to decision is equivalent to free will is equivalent to randomness.

 

So, don't give up your free will.

 

... and embrace uncertainty.

[fitkid]

Fitkid, do you have all your senses together?

 

Don't fall into any blind followerships. Do your own thinking. DYODD. We all make mistakes, and we should all be humble. And, nothing is 100% guaranteed, even if certain people tell you so. Maybe 99.99%, but not 100%.

 

The essence of this universe is that nothing is certain. The moment of decision is the present. Decision is free will, and free will is not predictable because otherwise it would not be free. In other words, existence is equivalent to decision is equivalent to free will is equivalent to randomness.

 

So, don't give up your free will.

I aint blindly follwing anyone GF i aint nobdies fool but credit where it is due These guys and your good self included bring a hell of alot to the table in terms of serious information.I for one am extremely grateful for those efforts in scourcing the quality information and saying thankyou in appreciation for that fact is the least i can feel to bring myself to do.If you miscrue that thanks as some kind of blinded worship you clearly havent picked up on my character very well from my various postings and my truly independent thinking in all matters.

GoT GoLD!!

Stupid question you are GoLDINGER. No SIR needed just pure 24 karat Bullion.

I bet you even paint Mrs GoLDFINGER

 

[G0ldfinger]

I bet you even paint Mrs GoLDFINGER

Now, there is an idea.

[fitkid]

Now, there is an idea.

Will you drill her full of holes to check for any TUNGSTEN??

 

 

 

 

[G0ldfinger]

Nature has some true gold bugs.

 

 

EDIT: I see there is a hole in him. Maybe someone drilled for the tungsten?

[romans holiday]

I genuinely welcome these kinds of comments (BTW, there's more than one economist being quoted and all are mainstream). So long as most 'experts' think it's a duff investment we should see a lid kept on retail speculation. This allows the minority to add to their position without worrying that they're caught up in some frenzy. I have no idea of how things will play out but I would not be surprised if gold sold off (maybe even heavily) in the next 6-12 months. Equally I would expect it to bounce back relatively quickly and still believe it will go significantly higher over the next 5 years or so. The idea, to me at least, that central banks/governments are nursing the economy back to health and will remove the stimulus when we're back on our feet is laughable. Here's a link to the BoE minutes - they have no idea what they're doing, no one does. As long as this trend stays in place, I think gold will continue its ascent but equally I do not rule out some sharp pullbacks along the way.

Pretty much agree. They were lugging about 200 ounce bars on CNBC the other night. Gartman saying only the naive think gold isn't in a bubble. The implicit message being get on board and ride the bubble up. Makes you wonder how low the dip could go on a sell-off. I am sticking to 900 as there would have to be one hell of a countering pull to the upside, even on a sell-off, and then a quick recover to new heights as the "fundamentals" of gold as currency assert themselves.

 

From: http://www.youtube.com/watch?v=DKbPUzhWeeI