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I suspect within 9 months, but of course I'm talking about shares not bullion. I know what you mean, but I don't think you'll have long to wait before we start seeing fireworks. It might only be a catherine wheel to start with, but I know there are some airbomb repeaters for the grand finale.

 

How distant is not too distant? I wish it would get a move on.

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Only 208p/t oz off the GBP all time high... :D

 

It looks like we'll see a new all time high in GBP today, just a few pounds in it now.

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Gold already at the races this morning........

 

Talking of which, it's the Grand National this weekend.

 

John%20Smiths%20Grand%20National%200Wwpa

 

For all precious Metal affectionados its got to be*:

 

Silver Birch 66-1

 

But this horse, despite winning in 2007, is this year only a reserve.

 

That leaves a tenuous second choice of :

 

Cerium 50-1

 

Again a reserve, but very gutsy finishing 5th last year despite collecting a fractured skull in the process.

Cerium is a "soft, silvery, ductile metal which easily oxidizes" (wikipedia)

 

 

* Warning - betting is akin to short term trading. It would be embarressing to lose your knickers during the biggest horse run ever.

 

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Gold already at the races this morning........

 

....

* Warning - betting is akin to short term trading. It would be embarressing to lose your knickers during the biggest horse run ever.

Of to the races? What happened to the seasonal lull. :lol:

 

One thing for sure is short term unpredictability. Which is why I'd never trade gold. Silver on the other hand..... ;)

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peaked at 17.90?

Well, I didn't expect to get the exact top. ;)

 

Only trading a minor position..... as a dollar hedge of sorts against a rather large buy and hold position [percentage wise] in gold.

 

Edit: silver is not my core currency... gold is. If silver were my core position I wouldn't be trading or selling it. What works for one, might not work for another. There is a good chance I get it wrong on silver, but this does not concern me too much due to a large gold holding. If silver does go the next level, I think it is likely to remain volatile and should dip at some point to where I exited.

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Talking of which, it's the Grand National this weekend.

 

For all precious Metal affectionados its got to be*:

 

Silver Birch 66-1

 

But this horse, despite winning in 2007, is this year only a reserve.

 

That leaves a tenuous second choice of :

 

Cerium 50-1

 

Again a reserve, but very gutsy finishing 5th last year despite collecting a fractured skull in the process.

Cerium is a "soft, silvery, ductile metal which easily oxidizes" (wikipedia)

 

 

* Warning - betting is akin to short term trading. It would be embarressing to lose your knickers during the biggest horse run ever.

 

Silver Birch is a non runner but Cerium got in.

 

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http://www.quantumamc.com/equitydirect/10-...from_Agora.aspx

 

What are your views on Gold? Why would you say it will be “the last man standing”?

 

We’re at a period which I think is the resolution of a long crisis in the making. Because fundamentally since 1971 all the world’s currencies use the dollar as reserve, and what does the dollar use as a reserve, there isn’t anything. That system to me is inherently unstable and unsustainable. I don’t know exactly where we are in that cycle, but I’m pretty sure that at the end of it the dollar will not be worth as much as it is today. But somewhere along the line people are going to be very nervous and when they are very nervous they begin to suspect that everything is falling apart, so they will buy gold to protect themselves.

 

From tracking gold prices from 1998 till date, you can tell that that’s not a bubble, it’s a solid bull story.

 

Another thing is that people get very greedy, and they get very afraid. Because when they’re greedy they will buy even if gold is going up.

 

What really sends prices up is when people begin to worry about the rupee, the dollar, the currency; they wonder what it’s really worth, they wonder what’s going wrong, and they turn to gold to protect themselves. And when that happens I think you’ll see the price of gold up to $3000.

 

And when this monetary policy falls apart, I believe that gold will be the last man standing.

 

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Edit: silver is not my core currency... gold is. If silver were my core position I wouldn't be trading or selling it. What works for one, might not work for another. There is a good chance I get it wrong on silver, but this does not concern me too much due to a large gold holding. If silver does go the next level, I think it is likely to remain volatile and should dip at some point to where I exited.

 

I agree with this. I see silver as a bit like oil in that it has a gold-to-xx ratio that fluctuates about a bit that can be used for longer term trading positions to enter when cheap and exit when expensive. Gold is the currency to accumulate profits and had a nice resistance floor to hold and protect profits in. I guess at some point this summer we will see a test of that floor - perhaps at $1040 ish, where the Indians bought.

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I guess at some point this summer we will see a test of that floor - perhaps at $1040 ish, where the Indians bought.

I like the sound of that.... an Indian summer.

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Seems like Jim has spotted that safe deposit boxes are not suitable for cash, pornography(!), or any other coin (other than numi):

 

His comment: "Please note that the legal disclaimers are making this type of storage anything but safe keeping."

clip_image0042.jpg

 

I tried to copy the point 3 here:

You are prohibited from placing cash (other than coin or currency with numismatic value, such as an antique coin collection) or pornography in your safe deposit box.

 

Point 4(20) is also suspicious. Looks like a giant a*se-covering exercise to me!

Class actions: waiver of jury trial.

You also agree that you will waive any right you may have to have the verdict on any suit you may bring rendered by a jury.

 

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Or this.......??... back to the thin blue line?

 

 

lng.gif

 

 

Will it be a case of "history repeating" or "lightning never strikes twice"?

 

Picture4-2.png

 

 

The volume on GLD is cause to re-consider the bullish case in the short term. In any case, it looks like it shouldn't take much longer to get a clearer picture of where Gold is heading in the intermediate term.

 

 

 

 

 

 

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Seems like Jim has spotted that safe deposit boxes are not suitable for cash, pornography(!), or any other coin (other than numi):

 

His comment: "Please note that the legal disclaimers are making this type of storage anything but safe keeping."

clip_image0042.jpg

 

I tried to copy the point 3 here:

You are prohibited from placing cash (other than coin or currency with numismatic value, such as an antique coin collection) or pornography in your safe deposit box.

 

Point 4(20) is also suspicious. Looks like a giant a*se-covering exercise to me!

Class actions: waiver of jury trial.

You also agree that you will waive any right you may have to have the verdict on any suit you may bring rendered by a jury.

 

I would not have any confidence in putting any gold money into a deposit box with any of the mainstream banks, with or without the restrictions you have highlighted above.

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http://www.zerohedge.com/article/guest-pos...ous-your-wealth

 

 

Make no mistake about it, investing in GLD is completely different than investing in actual physical gold. GLD does not even accurately index the price of physical gold, as the premiums on physical gold products like bullion coins have expanded from 10% to 40% above the spot price of gold over the last five years. This premium is not reflected in the price of GLD. If you invest in GLD now, with the intent of selling GLD in the future and buying physical gold, you will discover that your investment proceeds from GLD will purchase substantially less gold than was represented by your paper investment in GLD.

 

I have no problem with the concept of using GLD for daytrading to make directional bets, long or short, on the short term swings in the price of gold. But if you invest in GLD with the intent of making a long term investment in gold, please be aware that GLD is NOT an investment in actual physical gold. GLD is nothing more than a piece of paper which proclaims, but does not promise, to have gold on the other side of its highly structured legal barriers. Furthermore, for the reasons shown above, there is the possibility that you might wake up one day to find out that the price of GLD has suddenly dropped well below the spot price of gold and that GLD could even end up worthless.

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http://www.bloomberg.com/apps/news?pid=206...ZHb9k&pos=2

 

Germany Said to Accept Compromise on Loan to Greece (Update1)

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By John Fraher and Brian Parkin

 

April 10 (Bloomberg) -- Germany is prepared to give Greece loans at below-market interest rates, dropping its opposition to aid subsidies in a compromise over the terms of a lifeline for the debt-stricken nation, a European government official said.

 

[snip]

 

EU leaders, including French President Nicolas Sarkozy and Herman Van Rompuy, president of the 27-nation bloc, yesterday expressed their readiness to provide aid.

 

“A support plan has been agreed and we are ready to activate at any moment to come to the aid of Greece,” Sarkozy said.

 

 

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Will it be a case of "history repeating" or "lightning never strikes twice"?

 

Picture4-2.png

 

 

The volume on GLD is cause to re-consider the bullish case in the short term. In any case, it looks like it shouldn't take much longer to get a clearer picture of where Gold is heading in the intermediate term.

Yes, will be an interesting one to watch. My main prediction is the US dollar price of gold [as investors/ traders/ armchair macro-economists, surely this is the only one worth bothering about] will incrementally strengthen in the aggregate and follow the thin blue line. This would represent the gradual strengthening of gold as an alternative currency [remonetization].

 

There is a good chance that gold could correct to the line, and dip to 3 digits as a "repeat" would suggest. There is also a good chance that gold will track sideways and consolidate... reaching the blue line later in the year. What I think unlikeliest is a parabolic outbreak. The dollar is still too strong for this to happen imo.

 

blueline.gif

 

1160 looks to be a pivotal point:

 

http://www.reuters.com/article/idUSTRE6361B120100409

KEY TECHNICAL MARK AT $1,160

 

On charts, Adam Hewison, president of MarketClub.com, said gold must rise above the $1,160 area or risk retreating. Rallies in the past several months were met with heavy resistance at the $1,160 level, Hewison said.

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Guest Dramatic Exit

From Zero Hedge:

 

Jeffrey Christian Has A Second Chance To Disprove The Gold Ponzi Scheme, Fails

 

Jeffrey then proceeds to once again ignore the underlying issue, and highlights other massively diluted ponzi construct markets in which there is a discrepancy between physical and derivatives. "If you look at fishes and loaves of bread, the ratio of derivatives transactions to physical underlying it's 5 to 1; if you look at aluminum or copper it is about 15 to 1." And for the prize: "if you look at currencies or treasury bills or notes, you find that the ratio of derivatives trading to underlying physical is about 100 to 1."

Christian's conclusion is that this is all fine and good - "the market is much larger than the underlying market, and there shouldn't be anything unusual about that because quite frankly that's how most markets work." Actually, that's how most derivative markets work. And when the asset being "derived" is that which is located at the bottom of Exter's pyramid, the whole premise of its value collapses, as gold only has worth due to the fact that unlike the aforementioned "currencies and treasury securities" it can not be diluted into oblivion by mad Federal Reserve economists, be it by printing presses, nor by speculative derivatives traders.

"I've worked at major banks banks and these guys are incredibly conservative, risk averse people.

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Jeff Christian is not a gold bug. He has a more pragmatic view of the markets and takes them as he finds them. Gold bugs tend towards "puritanism" when it comes to the markets.... ergo... they will not like what Jeff Christian is saying. I also think there is a bit of justifying going on here; gold has not gone to the moon because of evil corrupt markets.... rather than a re-thinking of the premisses that gold bugs tend to buy into.

 

Still, it makes sense to diversify the ways in which you hold gold.

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It's that Canadian vault again.......(& zh again :) )

 

Are precious metal ETFs nothing more than a perfectly legal, CFTC supervised operation that allows the "Authorized Dealers" of the world to "withdraw" the physical gold out of various world vaults, even as the retail population ends up holding increasingly more worthless stock certificate whose asset collateral is approaching zero?

 

 

& the telling comment that wont surprise anyone here:-

 

When the dilution is complete, and when ScotiaMocatta is empty of all gold, perhaps then finally the great wealth transfer process will finally be done, as at that point fiat currency can finally be debased- after all the morts will have access to exactly zero physical when they demand it. It will all have long been pocketed by the Authorized Participants of the world.

 

http://www.zerohedge.com/article/has-ishar...s-jpm-and-goldm

 

 

 

 

 

 

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It's that Canadian vault again.......(& zh again :) )

& the telling comment that wont surprise anyone here:-

 

http://www.zerohedge.com/article/has-ishar...s-jpm-and-goldm

 

Oh it gets better.

 

http://www.marketoracle.co.uk/Article18550.html

 

My view: Listen to gold and what it’s telling you. I have absolutely no doubt that what’s going on between China and the U.S. … including Geithner’s visit to Beijing … is the next inevitable step in the demise of the dollar … and all about inflating away the U.S. debt problems.

 

Stay safe and cautious,

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Anyone watching the program on channel 4 about the Saxon hoard ???

 

Apart from the historic significance ( which is priceless ), i was surprised to find out that it was 5kg of gold and 1.5kg of silver. Not a bad stack at all, but not a huge amount ( 150 - 160 troy oz )

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Anyone watching the program on channel 4 about the Saxon hoard ???

 

Apart from the historic significance ( which is priceless ), i was surprised to find out that it was 5kg of gold and 1.5kg of silver. Not a bad stack at all, but not a huge amount ( 150 - 160 troy oz )

 

Yeah, small change :lol:, but when compared to what is being alleged to be held in the vaults of ScotiaMocatta it's a shed load.

 

Now this is more like it, a hundred tons of Nazi gold.

 

From:

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