narco Posted December 3, 2009 Report Share Posted December 3, 2009 I am looking at the daily candle on the gold price, it looks like it could be a hammer which could indicate a pull back. Be careful and manage your risk levels. Yes a few concerns right now. The HUI now at March 2008 levels, hopefully not a double top and silver still short of the March 2008 high. Link to comment Share on other sites More sharing options...
routemaster Posted December 3, 2009 Report Share Posted December 3, 2009 Yeah I fell out with CID a while ago and no longer deal with them. CID used to be my preferred supplier, but there were a few things I did not like and I now mainly deal with Bairds and the Royal Mint Business 2 Business dept. Link to comment Share on other sites More sharing options...
CharlieSays Posted December 3, 2009 Report Share Posted December 3, 2009 Not sure if this has been posted or not Run to gold latest podcast is a short audio story called the GoldBug by Edgar Allen Poe. Its a little over an hour long and quite a fun little story if a little dated and contains absolutely no investment advice, news or opinions. http://podcast.runtogold.com/ Sometimes whenever gold is mentioned around polite company the term ‘gold bug’ gets thrown out. This term was penned by Edgar Allen Poe in his short story ‘The Gold Bug’. Published in the early 1840’s and according to Poe it ‘made great noise’ and was his most widely circulated and read story. In ‘The Gold Bug’ William Legrand appears to go insane after being bitten by a bug he thinks is pure gold. He confides in his closest friend, the narrator. Legrand asks the narrator to immediately visit him at his home on Sullivan’s Island in South Carolina. When the narrator arrives Legrand begins searching for lost treasure. The narrator doubts Legrand and thinks he may be insane. Do Legrand and the narrator find the mythical treasure? Link to comment Share on other sites More sharing options...
FWIW Posted December 3, 2009 Report Share Posted December 3, 2009 Yes a few concerns right now. The HUI now at March 2008 levels, hopefully not a double top and silver still short of the March 2008 high. IF S&P500 rolls over (as in this video) then it could take gold priced in USD down with it (not very far but down nonetheless). http://broadcast.ino.com/education/sp5001130/ DYOR Link to comment Share on other sites More sharing options...
rgleeson Posted December 3, 2009 Report Share Posted December 3, 2009 For any BullionVault fans out there (like me), this is their response to me asking whether it's possible for tungsten cored bars to be passed around in the "Good Delivery Circuit" and thereby me owning one. I would have thought that Central Banks were part of the good delivery circuit, but what the hell do I know... BV poo poos the whole idea anyway... Anyway FYI: Dear Bimble, Thank you for your email. As you know, we send independent assayers into the vaults every year to check all the gold bars, and they send their report to our auditors who publish it – on their website – with the full financial audit. To read the Assayer's Report http://www.albertgoodman.co.uk/bullionvault/ Last year, the assayers were 100% satisfied with every bar. They are now due to return to the vaults later this month, coinciding with our 2009 financial audit. Meanwhile, we only ever accept bars from accredited vaults and refiners, and anyone who delivered us a gold bar which later turned out to be bad would be liable for the loss. On top of that, we guarantee every gram of BullionVault gold ourselves: http://bullionvault.com/help/terms_and_con...0gold%20content With regards to the alleged tungsten fraud, such fakes could perhaps circulate outside the Good Delivery circuit. But it's unlikely that any such metal could ever make it into accredited storage. Accredited custodians only take in bars from other accredited vaults, and metal only enters the system from accredited refiners. Even when they bear the correct bar stamps, large gold bars are not usually accepted from people outside the Good Delivery circuit, which is why taking a Good Delivery bar into private possession seriously dents its value. Any potential buyer, lacking the accredited storage history which ensures integrity, would rather deal accredited metal from an accredited source. It's this warranty -- that delivery is good -- which makes the professional wholesale market cost-efficient and liquid. You can learn more about Good Delivery at the London Bullion Market Association (LBMA)'s website. You'll note just how exacting the criteria for refining and assaying are: http://www.lbma.org.uk/delivery The Physical Committee's detailed work on weighing scales is also worth reviewing. Because at these tolerances, the difference in density between gold and tungsten would show in a 400-ounce bar. Their very different melting points (1064°C for gold, 3422°C for tungsten) also make the alleged fakes unlikely, as do their physical states when cooled (gold is soft, tungsten brittle). Following back along the chain of integrity – the formal history of who held the bars, when, and in which approved facility – would ultimately lead to the producing refiner, and no amount of "tungsten" fakes would be worth the law suits, let alone the loss of LBMA accreditation. As regards the rumours and stories themselves, "Impeccably reliable sources" would never tell an internet blogger that "a number of well-heeled market participants bought...gold futures on the London Bullion Market (LBMA)". Not because they wouldn't want to share such information, but for the simple reason that London dealers don't offer gold futures. Spot, forwards and options, yes. But futures, no. Nor can anyone trade gold "on" the LBMA, because it is a trade association, not an exchange or the market itself. Nor is gold dealt at the London Metals Exchange (LME) as some authors state. It offers base-metal contracts. Reliable sources of information would know this. They'd at least look it up before publishing. Kind regards, Adrian Link to comment Share on other sites More sharing options...
Fortune Posted December 3, 2009 Report Share Posted December 3, 2009 Capital Gains question about gold held with GM or BV. Dont know if this has been discussed before, but can CGT be avoided when selling GM or BV holdings by selling and leaving the proceeds there in the pot and only withdrawing it to the nominated bank account at maximum CGT allowance each year? Thanks. Why not just sell it in bits? Unless you need to sell it in one go, in which case I'm afraid you are going to have to take the hit. I think perhaps the only way is to cash out your proceeds outside the UK, with the intention of bringing it back in small amounts every year. That doesn't take into account where you should acutally leave your money. These days governments around the world are getting seriously nazi with tax avoiders. If you fancy taking your chances - like trying to get 'cute' with the tax man in the UK - then good luck to you. I'm in the fortunate position of have permanent residency in an Asian country so I can move my proceeds here relatively hassle-free - which they would welcome with open arms (dunno about getting it out though!). And I also have no intention of transferring my wealth back to the UK, so the UK tax man can get stuffed. Hope this helps. Link to comment Share on other sites More sharing options...
surfdude Posted December 4, 2009 Report Share Posted December 4, 2009 Taken recently from a Reuters article: Goldman Sachs said it sees prices at an average $1,265 an ounce in 2010, rising to $1,425 an ounce in 2011. It said low U.S. interest rates will support gold. This seems quite a moderate forecast predicting it will only go up some $50-60 from here for all of next year. GS trying to signal to investors that the high is in, ulterior motives? Link to comment Share on other sites More sharing options...
surfdude Posted December 4, 2009 Report Share Posted December 4, 2009 This picture gives more numbers than the original "angels". 1650 has been his top target for years. It's bigger and clearer at this link: http://jsmineset.com/wp-content/uploads/20.../Sinclair32.jpg Thanks for pointing that out Wren. I have seen the picture many times but did not realise those are the actual numbers Sinclair is calling for gold's ascent. I think we could see the price move up a few rungs of that golden ladder by spring 2010. Link to comment Share on other sites More sharing options...
Traktion Posted December 4, 2009 Report Share Posted December 4, 2009 Taken recently from a Reuters article: Goldman Sachs said it sees prices at an average $1,265 an ounce in 2010, rising to $1,425 an ounce in 2011. It said low U.S. interest rates will support gold. This seems quite a moderate forecast predicting it will only go up some $50-60 from here for all of next year. GS trying to signal to investors that the high is in, ulterior motives? Didn't they say it was going to stay at $950 throughout 2010 in a document posted here just a few weeks ago too? Link to comment Share on other sites More sharing options...
surfdude Posted December 4, 2009 Report Share Posted December 4, 2009 Didn't they say it was going to stay at $950 throughout 2010 in a document posted here just a few weeks ago too? It seems they are a bit slow with catching up with the action Link to comment Share on other sites More sharing options...
warpig Posted December 4, 2009 Report Share Posted December 4, 2009 Not relevant but genius... http://www.tackfilm.se/en/?id=1259841474368RA37&q=low Link to comment Share on other sites More sharing options...
BHP Tinto Posted December 4, 2009 Report Share Posted December 4, 2009 Is there a thread about selling gold on here? I can't find one. I'm starting to look at offloading a few coins but obviously looking to get the best bang for buck as possible. Ebay & Paypal fees are astronomical! I can't for the life of me understand why you want to offload gold ???!!!!! It's the one asset that's made new highs every year since 2000. China and India and buying with both hands. John Paulson and other smart hedge funds are buying with both hands. Martin Armstrong sees it going over $5,000, Jim Sinclair's model suggest over $12,000 Yet you want to sell? Either you are painfully unaware of the awful fundamentals of the US economy and the USD...or you know something I don't. Link to comment Share on other sites More sharing options...
BHP Tinto Posted December 4, 2009 Report Share Posted December 4, 2009 The Top Callers Are Back In Force Posted: Dec 03 2009 By: Jim Sinclair Post Edited: December 3, 2009 at 11:24 pm Filed under: General Editorial Dear CIGAs, To all those emailing me about whacked out internet writers with no authority other than a used laptop to spit out their various theories on why gold has topped, please stop. This has happened time and time again over the last few years, and they have consistently been proven wrong. One stands on the premise that the IMF would never sell a low in gold. That is the lamest thing I ever heard. Of course they would, and they did in the 70s. Gold is going to and through $1224, $1278 and on to $1650. Following that it is off to Alf and Armstrong’s projections. Everything in between is senseless trader noise. Yes, the gold price is going to get increasingly violent, but that is what is required of a market to accomplish what gold is going to accomplish. So stop sending me this nonsense, and asking me what I think about it. My thoughts on the subject are crystal clear in this posting After all my efforts there are still so many who don’t get it. Link to comment Share on other sites More sharing options...
Icarus Posted December 4, 2009 Report Share Posted December 4, 2009 Taken recently from a Reuters article: Goldman Sachs said it sees prices at an average $1,265 an ounce in 2010, rising to $1,425 an ounce in 2011. It said low U.S. interest rates will support gold. This seems quite a moderate forecast predicting it will only go up some $50-60 from here for all of next year. GS trying to signal to investors that the high is in, ulterior motives? Tungstenman Sachs has now increased its forcast to an average price of $1350 for next year. http://ftalphaville.ft.com/blog/2009/12/03...ast-to-1350toz/ Link to comment Share on other sites More sharing options...
surfdude Posted December 4, 2009 Report Share Posted December 4, 2009 Tungstenman Sachs has now increased its forcast to an average price of $1350 for next year. http://ftalphaville.ft.com/blog/2009/12/03...ast-to-1350toz/ Here is the GS target figures from the article: We therefore raise our gold price forecasts to $1200/toz, $1260/toz, and $1350/toz on a 3-, 6-, and 12-month horizon, respectively, with a 2010 average price forecast of $1265/toz and a 2011 average price forecast of $1425/toz. While an earlier than expected tightening of US monetary policy presents a substantial downside risk to gold prices in 2010 and 2011, we believe the near-term risk to our gold price forecast is skewed to the upside. So GS see small incremental increases over the next 12 months. Link to comment Share on other sites More sharing options...
azazel Posted December 4, 2009 Report Share Posted December 4, 2009 Here is the GS target figures from the article: We therefore raise our gold price forecasts to $1200/toz, $1260/toz, and $1350/toz on a 3-, 6-, and 12-month horizon, respectively, with a 2010 average price forecast of $1265/toz and a 2011 average price forecast of $1425/toz. While an earlier than expected tightening of US monetary policy presents a substantial downside risk to gold prices in 2010 and 2011, we believe the near-term risk to our gold price forecast is skewed to the upside. So GS see small incremental increases over the next 12 months. These gold forcasts are always wrong. How can they have any credability? "They’re raising their 12-month forecast to $1350 per troy ounce versus a previous $960." If they are forecasting $1350 gold then gold will be at $2000 next year! Personally, I recon cosolidation next year and moves up in 2011 peaking in January 2012 just in time for the end of the world. Link to comment Share on other sites More sharing options...
surfdude Posted December 4, 2009 Report Share Posted December 4, 2009 These gold forcasts are always wrong. How can they have any credability? "They’re raising their 12-month forecast to $1350 per troy ounce versus a previous $960." If they are forecasting $1350 gold then gold will be at $2000 next year! Personally, I recon cosolidation next year and moves up in 2011 peaking in January 2012 just in time for the end of the world. I think that consolidation could come in the spring (April) with Gold taking a break and trading lower until next October/November. Link to comment Share on other sites More sharing options...
id5 Posted December 4, 2009 Report Share Posted December 4, 2009 I think that consolidation could come in the spring (April) with Gold taking a break and trading lower until next October/November. I am going for early February as the top before the spring consolidation next year, just as it was in the spring of this year. Gold will still follow the seasonal pattern as the global fiat experiment is not yet about to collapse and there is still money to be made from the markets, bonds, FX, etc. Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2009 Report Share Posted December 4, 2009 I am going for early February as the top before the spring consolidation next year, just as it was in the spring of this year. Gold will still follow the seasonal pattern as the global fiat experiment is not yet about to collapse and there is still money to be made from the markets, bonds, FX, etc. Yes, the market [widely considered.. equities etc] could just keep grinding higher over the summer before finally exhausting itself. Even though I am mostly the buy and hold type, of both bullion and currencies [and then waiting for the big macro move before exchanging], I will consider putting a trade with silver on here; buy on the next drawback [$18 or so] then sell at a possible top early next year [gold/silver could continue to go parabolic here before correcting]. If silver declines further, nothing much lost as will just consider the trade an addition to the long term bullion position [though bought at less than an ideal price or "averaged in"]. Link to comment Share on other sites More sharing options...
narco Posted December 4, 2009 Report Share Posted December 4, 2009 Martin Armstrong sees it going over $5,000, Jim Sinclair's model suggest over $12,000 Yet you want to sell? Either you are painfully unaware of the awful fundamentals of the US economy and the USD...or you know something I don't. Everyone in the world has the same view as this right now and that is what worries me the most. Those numbers above are probably right when the United States defaults on their debt. This is probably something that is going to take many years to play out. Link to comment Share on other sites More sharing options...
HPCSucks Posted December 4, 2009 Report Share Posted December 4, 2009 Everyone in the world has the same view as this right now and that is what worries me the most. Those numbers above are probably right when the United States defaults on their debt. This is probably something that is going to take many years to play out. I just asked the newsagent this morning about this. She's never heard of you. Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted December 4, 2009 Report Share Posted December 4, 2009 can't believe no-one's posted this yet... http://www.telegraph.co.uk/finance/persona...Cash4Gold..html Gold: Eighties pop star MC Hammer has become an equity partner in the gold buying service Cash4Gold. MC Hammer, the rapper was famous for wearing baggy pants and singing "You can't touch this", can't get enough of gold. ... Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2009 Report Share Posted December 4, 2009 Payroll numbers out. Down only 11,000! Where did they find these figures? Gold straight down below 1200 Link to comment Share on other sites More sharing options...
FWIW Posted December 4, 2009 Report Share Posted December 4, 2009 Payroll numbers out. Down only 11,000! Where did they find these figures? Gold straight down below 1200 Brilliant - these jokers will get me a great discount. Igglepiggle get ready my friend. Link to comment Share on other sites More sharing options...
romans holiday Posted December 4, 2009 Report Share Posted December 4, 2009 Brilliant - these jokers will get me a great discount. Igglepiggle get ready my friend. I guess the job summit worked. Gold down 2%. Silver dropped near 50c. Link to comment Share on other sites More sharing options...
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