GOLD

[warpig]

I bought 5kg silver today.

 

Not low enough though! Im holding out for lower seasonal prices before I buy some, and silver. Anyone (except Ker) like to hazard a guess how much lower? Im guessing £24,000 and will start buying then.

[GatheringStorm]

Which gold stocks are you in? My ISA is splt between CEY (40%) and MML (60%). Should really diversify at some stage but these are excpetional companies imo - MML are producing gold at $180 an oz and expanding production strongly. There is a good thread on advfn

 

My ISAs are my core long term holding of gold stocks and because of that would never hold juniors within them as the volatility would expend too much of my emotional capital. They are deliberately non trading ISAs to keep me from being shaken out by the frequent manipulation.

 

I hold only Investec Global Gold and Blackrock Gold and General inside the ISAs.

 

It's been tough during some of the drawdowns, especially in 2008 but the 2005 ISA is at circa £25k currently.

 

I wouldn't dream of doing what you're doing and holding just two LSE listed juniors. Too hard on the nerves!

 

What's wrong with ZJG.to or GDXJ? They're the ones that will mop up the mania if it ever happens!

 

 

 

 

[ecoface]

Now here's one that the gold bugs will find hard to interpret as some of them think GS manipulates the market. Conversely, some will no doubt see this as a sign to go short, as whatever GS say publicly, they then position themselves for the opposite.

 

LONDON (MarketWatch) -- U.S. investment bank Goldman Sachs Group Inc. Thursday raised its 12-month forecast for gold by a modest 1.5% to $1,355 a troy ounce, citing a prolonged period of low interest rates and persistent concerns over European sovereign debt.

 

Goldman said it still believed gold prices will decline beyond 2011 once the U.S. Federal Reserve tightens monetary policy and recommended producers consider selling their production forward.

 

The bank raised all its forecasts for base metals except for zinc, which it slashed by 18% to $2,225 a metric ton.

 

Slowing growth in Europe and China, as well as strong Chinese zinc production, will keep the market in surplus longer than expected, it said.

 

Goldman said copper remained its favorite metal for long positions as inventories continue to decline and the supply deficit should grow this year and next.

 

Goldman raised its silver forecast 1.3% to $22.60/oz, largely due to its improved outlook for gold.

[dietcolaaddict]

Well, its now doldrums season for sure and lets not forget that seasonality trend........favours getting your PMs purchase in by early september

 

 

 

 

 

 

 

But what to buy for September, gold or silver?

 

Perhaps you listen to Armstrong, Crawford, Turk or Sinclair for your PMs advice. I'm going with the only commentator with a 100% record to date....

 

 

http://en.wikipedia.org/wiki/Paul_%28octopus%29

[romans holiday]

But what to buy for September, gold or silver?

 

Perhaps you listen to Armstrong, Crawford, Turk or Sinclair for your PMs advice. I'm going with the only commentator with a 100% record to date....

If your "averaging in" with some funds for the year, you'd want to be buying gold wouldn't you?

 

Silver is a better buy on the big dips should they come.

 

This coming purchase, in the next couple of months, will be my last purchase of gold. Henceforth, if I want more, I'll go fossicking for it.

[dietcolaaddict]

If your "averaging in" with some funds for the year, you'd want to be buying gold wouldn't you?

 

Silver is a better buy on the big dips should they come.

 

This coming purchase, in the next couple of months, will be my last purchase of gold. Henceforth, if I want more, I'll go fossicking for it.

Hi RH

G-to-S ratio is 66, which is in my 'buy gold' region (just).

 

I'd be more pro-silver if this ratio was a tad higher and at least edging into my 'buy silver' region - which starts from 67.5 and above. I agree that silver is riskier (but potentially more rewarding) but I'd be more of a silverphile if the ratio at least got into the silver zone before late August to provide more reward for the risk it carries.

 

(see my interpretation of playing the G-to-S ratio)

 

 

PS. Why your last purchase?

[romans holiday]

PS. Why your last purchase?

Well, last serious purchase to add to an already ridiculously large [percentage wise] core position. After that, I doubt my ongoing income is going to be able to buy much for much longer; my earning currency is depreciating against the dollar even while gold is appreciating against the dollar... a double whammy hyper-deflation of my currency.

 

It actually makes more economic sense for me throw my job in [be satisfied with the money I have... I mean, you have to ask yourself when enough is enough right] and live the good life.... a more self-determined one. Part of that will be a bit of recreational fossicking [hence my stating I will not purchase anymore gold]. But I think I might end up taking it a little more seriously than the weekenders.... I feel the gold fever coming on.

 

Interesting chart that.

[InternationalRockSuperstar]

...

Goldman said it still believed gold prices will decline beyond 2011 once the U.S. Federal Reserve tightens monetary policy and recommended producers consider selling their production forward.

...

 

 

 

[creditcrunch]

Oh boy... hope this is just summer doldrums.

[romans holiday]

Oh boy... hope this is just summer doldrums.

Sterling price looked due a pullback. More volatile in pounds these days than in dollars. You should look at the crazy swings in Aussie and Kiwi. imo this reflects instability between currencies more than anything else.

 

 

[JIMBOWEN27]

My ISAs are my core long term holding of gold stocks and because of that would never hold juniors within them as the volatility would expend too much of my emotional capital. They are deliberately non trading ISAs to keep me from being shaken out by the frequent manipulation.

 

I hold only Investec Global Gold and Blackrock Gold and General inside the ISAs.

 

It's been tough during some of the drawdowns, especially in 2008 but the 2005 ISA is at circa £25k currently.

 

I wouldn't dream of doing what you're doing and holding just two LSE listed juniors. Too hard on the nerves!

 

What's wrong with ZJG.to or GDXJ? They're the ones that will mop up the mania if it ever happens!

 

 

Fair enough. My ISA's are my core long term holdings to. I also hold about 16% of my portfolio in gold sovs so am fully CGT exempt.

 

I am looking to diversify although should point out CEY is capitalised at £1.6bn so not exactly small and likely to be within FTSE 100 within 12 months. MML is c£500m so not exactly small either. I did hold Gold and General but sold to buy MML. Nothing wrong with it but some of the majors that they are invested in have much higher cash costs.

[Delboy]

How do you hold sovereigns in an ISA?

[creditcrunch]

Sterling price looked due a pullback. More volatile in pounds these days than in dollars. You should look at the crazy swings in Aussie and Kiwi. imo this reflects instability between currencies more than anything else.

 

 

 

 

Thank you for this info.

 

[Pixel8r]

How do you hold sovereigns in an ISA?

There is no reason to hold sovereigns in an ISA they are capital gain tax free as they are currency in the UK.

[enrieb]

25 min documentary from Russia Today

 

http://rt.com/About_Us/Programmes/XL_Repor...-15/584212.html

 

Mystery of the golden train

 

In the early 20th century, a train carrying the gold reserve of the Russian Empire went on a journey across the country – but it never reached its destination. The gold mysteriously disappeared.

 

The legends surrounding this story are alive to this day.

 

According to the scientists, part of the gold reserve is thought to have sunk in Lake Baikal. Some claim it lies in Siberian monasteries. Others – that it is hidden away in caves in the country’s Far East, or even in what is now the Czech Republic. What happened to the bulk of the Russian Empire’s gold reserve which went missing in 1919 is one of the most intriguing myths of Russian history.

[kernull]

sorry for crossposting, but i think gold is set for a crash by the end year:

 

http://seekingalpha.com/instablog/481054-k...c-crash-in-gold

[romans holiday]

sorry for crossposting, but i think gold is set for a crash by the end year:

 

http://seekingalpha.com/instablog/481054-k...c-crash-in-gold

Hurry up and short it then.

[romans holiday]

In a year, gold has strengthened against the Euro 35%... even with this latest correction of the recent parabolic rise in the Euro price. This parabolic rise only reflected instability in the Euro, a herding out then a herding back in. This sort of volatilty is more about the fickleness of particular currencies, or should I say investors, and will continue to benefit the medium/ long gold term trend. Euro still down 7% against the dollar.

 

 

 

 

To put it in perpsective, here's the performance of gold, over two years, against two of the strongest currencies, Yen and US dollar. Looks like a good solid trend to me.

 

 

[LauraB]

Svetlana, why are my gold coins rusty?

 

It must be the new washing powder Vlad.

 

Here's a head scratcher: as everyone knows from elementary chemistry courses, gold is the most inert metal in the world - it does not rust, nor corrode. Yet this is precisely what Russian commercial precious metal trading company, International Reserve Payment System, discovered on thousands of (allegedly) 999 gold coins "St George" (pictured insert) issued by the Central Russian Bank. The serendipitous discovery occurred after various clients of the company had requested that their gold be stored not in a safe, but in a far more secure place: "buried under an oak tree." As the website of IRPS president German Sterligoff notes: once buried, "the coins began to oxidize under the influence of moisture." And hence the headscratcher: nowhere in history (that we know of) does 999, and even 925 gold, oxidize, rust, stain, spot or form patinas, under any conditions. Furthermore, as IRPS discovered, Sberbank of Russia released an internal memorandum ordering the purchase of the defective coins with the spotted appearance. Sterligoff concludes: "It should be noted that the weight and density of the rusty coins coincide with the characteristics of gold that would be expected after after conventional testing methods would reveal. We think that the experts will be interesting to determine the nature of this phenomenon." So just how "real" is 999 gold after all, either in Russia or anywhere else?

 

As a consequence of this discovery, IRPS decided to "rid itself of all stocks, bought up earlier from the Central Bank on behalf of investors. Investment coins "St. George The Conqueror", as well as other gold coins of the Bank of Russia, are now excluded from the company's operations until all circumstances in the case are determined." Additional, as disclosed in the interview below for Here and Now show on TVRainRu, the Russian Central Bank would buy back the coins at a price of 9,300 rubles, despite prevailing prices for the bullion at well over 10,000.

 

 

http://www.zerohedge.com/article/rust-disc...-999-gold-coins

 

[LauraB]

Double post, thxs to an amazing Portuguese 3G 'connection'

[Errol]

Unlikely to be rust. It's called copper spotting and is not that unusual on 999 pure gold coins.

 

I have a gold maple with several (quite obvious) copper spots on it. Either that or they are marks where some form of chemical (acid) has splashed onto the coin during manufacture/transport.

[G0ldfinger]

DOUBLE POST

 

Here is a comparison of how gold has performed as compared to a savings account that pays the Federal Funds Rate as interest.

 

This means, to be a peak as in 1980 in this comparison, the price right now would have to be USD 1,200*7.79/1.98 = USD 4,721.21.

 

(Edited for typo.)

 

[aardvark]

Unlikely to be rust. It's called copper spotting and is not that unusual on 999 pure gold coins.

 

I have a gold maple with several (quite obvious) copper spots on it. Either that or they are marks where some form of chemical (acid) has splashed onto the coin during manufacture/transport.

 

its not unusual on 22k coins like sovs or krugs (which contain copper) but it should be impossible on .999 gold!

 

maybe your maple has touched another coin and some copper has rubbed off onto it?? acid would not have any effect on the gold (unless it also contained some other metal).

[Errol]

Baird and Chard have both confirmed to me that copper spotting is not unheard of on Maples. There can be trace amounts of copper etc.

 

Certain types of acid/chemical will also leave a mark.

[electroweak]

Baird and Chard have both confirmed to me that copper spotting is not unheard of on Maples. There can be trace amounts of copper etc.

 

Certain types of acid/chemical will also leave a mark.

I have an old 1/10 maple with photos of slight copper spotting. It's 1983, so maybe they improved the process since then? I have not noticed it getting any worse.