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The strange thing is, the more I read of your posts (and the posts of other gold-bugs) the less inclined I am to invest in gold. I am constantly reminded, by you and your ilk, of tulip mania and lift-boys!

 

LOL! This is one of the funniest things I've read in ages.

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...and ads on tv and Ebay and the rest, I'm inclined to believe that we've got to the blow-off phase of a bubble.

 

You are aware that the TV ads are asking you to sell your gold to these companies NOT them trying to sell it as an investment to you?

 

When has there been a blow off top characterised by companies actively asking the general public to sell rather than buy?

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This is utter nonsense the reason these stones were valuable is that it took a great deal of skill and labour to fashion these stones the embodied energy and skill was known to all and so these stones had value. He alludes to this then completely ignores it.

 

So long as Fiat money is easier to create than gold then gold will be worth more. As long as alchemists fail to turn lead or others in to gold then gold will be worth more than paper money.

 

There is a concerted effort building to try and prop up fiat money by discrediting gold

 

China

Buiter

Soros

 

Ever get the feeling some of the paper shills are working for the paper printers.

 

I suspect there are one or two paper trolls on this forum also working for the paper printers they tell you they love gold and silver and then spend most of the time trying to put people off buying it.

 

We know who you are.

 

I would add Prechter to this list. I subscribe to some of his services and what I find quite striking is that the majority of his work is highly impressive, I've been short SPY from his call in January. He certainly seems to have an issue regarding gold and it would not surprise me in the least if in this respect he had another agenda...

 

Anyway gold and silver should be up once the markets open following Iran's notification that they are going to enrich Uranium to 20%, should be a renewed uptrend. I put in an order for calls on SLV but they didn't get filled before the close on friday, I'll be looking to buy tomorrow.

 

I wanted to pose a question to all on this thread regarding the impact of what I call "Jubilee creep". It is highly unlikely we will have a debt jubilee but I see a developing trend over the coming years whereby debts are modified or written off to try and further protect the banks. Mortgages are already being modified in the US, either on new terms or partial write off, albeit on a limited scale at the moment.

 

News item on the bbc today;

 

Challenge to forced sale of homes for debts

 

http://news.bbc.co.uk/1/hi/business/8500379.stm

 

These are only examples but if, as I think, this trend becomes more magnified what impact will it have on the the gold and silver markets?

 

Effectively if something like this is done on a grander scale would it not reduce systemic risk and therefore some of the insurance premium for gold and silver?

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You can win an ounce of silver if you win the monthly gold price guessing competition at 24knews.

 

The closing date is 15 Feb. Guess the price on Mar 5 London PM fix. Simply post your guess price. Here's the thread:

http://www.24knews.com/viewtopic.php?f=2&t=188

 

headmelter won the Feb silver price guessing contest.

I won the Jan gold price guessing contest.

 

We alternate each month between gold and silver.

 

The prize is a one-ounce silver Libertad or one ounce of silver into your GoldMoney account if you have one.

 

On edit: Mar 5

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You are aware that the TV ads are asking you to sell your gold to these companies NOT them trying to sell it as an investment to you?

 

When has there been a blow off top characterised by companies actively asking the general public to sell rather than buy?

Can I throw a conspiracy theory out there.

 

Those TV ads are government printing in action.

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Waiting to buy gold? The US dollar is the currency to sit in.

 

gbpusdolprice.gif

 

 

 

Pounds, along with most currencies depreciating against the dollar. An even worse picture for those waiting in NZ or Aussie dollars.

 

gdpcross.gif

 

 

 

 

The solid turn in the kiwi and Aussie is signalling a swing towards deflation mode in the market. Buckle up.

 

kiwi.gif

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nah, already got gold and the £ depreciating against the $ is making it go up in price

Yes, me too-holding Au and thus exposure to US dollar by proxy.

 

Also 'quietly' holding some US dollars (an Au short/hedge/fund) bought some time ago. Now working!

 

 

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Gold going vertical pre-NY opening. Hope it gets to and holds $1080

 

seems like the yanks are queuing up with their paper to sell at NY open every day at the moment :rolleyes:

 

might have to rely on our Asian friends overnight...

 

noticed physical spreads had increased slightly on CID the other day

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Can I throw a conspiracy theory out there.

 

Those TV ads are government printing in action.

 

 

Got to admit...... I love a good conspiracy theory.

 

Can you expand a little, as I'm not to sure who is actually behind all the purchases, and when they buy all of this gold from Joe Public... who are they selling it to ?

 

(Forgive me if this has already been coved in the Gold thread....... but the gold thread moves far to quickly for me)

 

http://www.greenenergyinvestors.com/index....ic=7814&hl=

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Am I the only one slightly concerned about today's action? This is exactly how Prechter has been calling it. I'm reading financial stories saying "Gold rose 1% on improving economic sentiment". It's still rising in tandem with everything non-Dollar: Euro, crude and commodities. No sign of decoupling yet.

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Am I the only one slightly concerned about today's action? This is exactly how Prechter has been calling it. I'm reading financial stories saying "Gold rose 1% on improving economic sentiment". It's still rising in tandem with everything non-Dollar: Euro, crude and commodities. No sign of decoupling yet.

You can't exactly claim that gold has been flat in Euros. Or are you referring to the ultra-short term?

 

http://gold.approximity.com/since1999/Gold_EUR.html

Gold_EUR.png

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Goldfinger, I think Prechter's point is more than Gold and the Euro are move in the same direction (I guess you could say that about lots of assets recently). Not that gold hasn't out performed Euro over the last 5 years.

 

I find Prechter's view outlandish in the targets he talks about in the stock market, but would gold correcting to say $650 (~50% from it's 1220 high) be that crazy?

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I find Prechter's view outlandish in the targets he talks about in the stock market, but would gold correcting to say $650 (~50% from it's 1220 high) be that crazy?

Shorter term, it is a possibility, but there is no way of assessing its probability IMHO. It could go just the other way, for very good reasons.

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Trader Dan (Norcini):

http://jsmineset.com/2010/02/09/hourly-act...trader-dan-214/

It certainly does appear that there is substantial buying of the metal in the $1,040 – $1,050 region, buying large enough to absorb an awful lot of long liquidation. Again, just a reminder, India made its purchase of those 200 tons of gold not too far from that level late last year. China got caught flat-footed by their buy and will not make the same mistake again.

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It will never happen. I'm prepared to bet you 10 ounces of gold.

 

would gold correcting to say $650 (~50% from it's 1220 high) be that crazy?

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It will never happen. I'm prepared to bet you 10 ounces of gold.

QE started up when gold was at $900. I have been sticking to $900 as a solid support for gold for quite some time now [and 3 digit prices revisited quite likely]. A month ago this sounded bearish... it is now started to sound bullish... considering the other numbers which are being put out there.

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If gold managed to get to $650 there would be a divergence between paper and physical prices that would drain the COMEX warehouses. Pretcher does not understand gold and if you read what he says and try and summarise it, it doesn't make sense, he doesn't know if he's coming or going on the matter.

 

QE started up when gold was at $900. I have been sticking to $900 as a solid support for gold for quite some time now [and 3 digit prices revisited quite likely]. A month ago this sounded bearish... it is now started to sound bullish... considering the other numbers which are being put out there.

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http://news.goldseek.com/RickAckerman/1265698860.php

 

Some Gold Forecasts For Patient Bulls

 

With the correction in gold prices now entering its third month, bulls would do well to take the long view. Compared to the gut-wrenching grind to hell in 2008, the current consolidation has been a piece of cake. Since hitting a record high of $1229 in early December, the price of an ounce of gold has fallen $185, representing a decline of 15%. In comparison, the 2008 correction amounted to a full-blown collapse. Prices fell 35% over a seven-month period, from $1066 to $694. The chart below shows both corrections. We’ve also drawn in some hypothetical price bars in red to show what the chart would look like if this consolidation were to track the path of the earlier one. That would yield a bottom near $856 in early June. If that sounds like strong medicine, consider the payoff: The price of gold rose 77% from its October 2008 low. If a similar situation were to play out in 2009, gold would hit 1515 by the summer of 2011. That scenario sounds like a scenario that everyone but bullion bankers and Democrats could root for.

....

 

This was posted by “Emerald” on Monday, and it squares nicely with our own, patient outlook: “Regarding your query on Gold, one the most reliable metrics for evaluating it has been the 65-week moving average which has contained every decline since mid-2001 except for the sell-off in late 2008. The market peak in December stretched Gold about 1.33x its 65week MA; only May 2006 and March 2008 were more extended. Currently, the 65WMA is at 972 and rising about $5 to $6 per week. After the May 2006 peak in Gold, it took five months for Gold to consolidate back to its 65WMA. It could be that Gold needs more time to digest its gains from the fall of 2009. I am very bullish on Gold, but perhaps we get too impetuous in wanting Gold to properly reflect the economic/financial environment we are in. Gold will get there on its own time.”

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If gold managed to get to $650 there would be a divergence between paper and physical prices that would drain the COMEX warehouses. Pretcher does not understand gold and if you read what he says and try and summarise it, it doesn't make sense, he doesn't know if he's coming or going on the matter.

It would be the steepest 'V' ever. ;)

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It would be the steepest 'V' ever. ;)

It's a bit simplistic, but I think of gold as having a peak season floor now of around $1040 - with $1080 the first major support level above this. I can see perhaps a journey back under $1000 during this summer doldrums but not in peak Sep-Mar season.

 

I prefer holding silver to gold early in this peak season (better upside potential from Sep-Dec) but like to hold gold more than silver late in the season ('The Ides of March') and during the Dreaded Doldrums of the summer.

 

I have no idea or feel for the floor price in silver either now or in doldrums season, although that may just be me.

 

EDIT - used £ symbol instead of $

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It's a bit simplistic, but I think of gold as having a peak season floor now of around $1040 - with $1080 the first major support level above this. I can see perhaps a journey back under $1000 during this summer doldrums but not in peak Sep-Mar season.

 

I prefer holding silver to gold early in this peak season (better upside potential from Sep-Dec) but like to hold gold more than silver late in the season ('The Ides of March') and during the Dreaded Doldrums of the summer.

 

I have no idea or feel for the floor price in silver either now or in doldrums season, although that may just be me.

 

EDIT - used £ symbol instead of $

Its a credit to GEI that, these days, we seem to intuitively feel what the markets are going to do next. The online forum education was definately worth it, even if we could be wrong.

 

I couldn't have said this about myself a year ago.....

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