GOLD

[Gatesy]

Of course, I'm very new to this, but having watched the charts a bit over the last couple of days, I've seen that the drops in gold's price seem to have been matched quite closely to drops in silver.

 

I don't just mean that they've both fallen, but when I notice a particular drop (or recovery) in gold's price, then check the silver chart, that silver just did the same thing.

 

Is gold and silver activity often this closely synchronised, or are they usually more independent? Does their current apparently closely related movements indicate anything?

 

Edited: To take the apostrophe out of 'drop's'... *blushes*

They are nearly always closely correlated

[Saberu]

http://www.silverstockreport.com/2008/crunch.html.

 

That seems incredible, is there any evidence to back this up? Something on those dealers websites perhaps mentioning it. If so I'm going to forget gold and go all silver once I get some money

[ologhai]

http://www.housepricecrash.co.uk/forum/ind...15&start=15

 

Spooky.

[drminky]

Spooky.

 

What a week! The 5th Biggest Securities firm in the US suffers a bank run and is bought out using public funds to prevent a collapse. There goes the final nail in the coffin of interbank lending! The Fed Cuts rates by TWENTY-FIVE PERCENT in one hit! Goldman Sacks and Morgan Stanley go begging at the fed for funds - to reduce the 'stigma!' . Fannie and Freddie get relaxed capital requirements so they can buy up more mortgages. The Bank of England intervenes to prevent a panic run and collapse of one the the top 5 banks in the UK..

 

what to do in this situation? SELL GOLD!! SELL!! SELL!! SELL!!

 

 

 

[Bobsta]

This reminds me of an old shopkeepers joke.

 

"I keep telling my customers, there's no demand" :lol:

 

Brilliant link. Cheers

 

It seems obvious to me. Th basic laws of supply and demand have been reversed.

Now the demand is outstripping supply, the price must fall.

Who is responsible for changing a basic economic law ? Bring me the head of the Fed :lol:

My gold losses have been bearable ... just brought me back to near where I started. However I've been burned very badly by Silver (see my post a few days ago in which I warned that I knew my strategy would lead to me "chasing the market down" - which it has).

 

Grumble, grumble. Not feeling particularly great today, I must admit.

[Steve Netwriter]

Hmm, I see what you mean. It is amazingly synchronised on this fall !

 

 

 

[Steve Netwriter]

My gold losses have been bearable ... just brought me back to near where I started. However I've been burned very badly by Silver (see my post a few days ago in which I warned that I knew my strategy would lead to me "chasing the market down" - which it has).

 

Grumble, grumble. Not feeling particularly great today, I must admit.

 

You were using leverage right ?

Maybe it's time to take Jim Sinclair's advice and not do that. He has some quite strong views on that from what I've read.

 

As he keeps saying, "they can't short physical in your hand"

 

I haven't lost anything "because I ain't selling"

 

[G0ldfinger]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

March 20 (Bloomberg) -- The Bank of England renewed an offer of emergency short-term funds to banks as it hosted a meeting of executives to try and stem a financial crisis.

 

The central bank sold 5 billion pounds ($9.9 billion) of weekly money and will keep offering the extra funds each week until the current monthly financing period ends in April, it said in a statement. The offer replaces emergency loans made on March 17, which mature today.

It's getting rolled over to infinity. Monetization of bad debt.

[POTATOES]

My gold losses have been bearable ... just brought me back to near where I started. However I've been burned very badly by Silver (see my post a few days ago in which I warned that I knew my strategy would lead to me "chasing the market down" - which it has).

 

Grumble, grumble. Not feeling particularly great today, I must admit.

 

Patience, patience. Climb that wall of fear. All those fresh new dollars have not suddenly disappeared.

[wren]

Is it me, or have you added something to your avatar ?

He's Charlie†, the gold bear. He's sitting pretty now, but I have a feeling sometime later this year things could go awry for our mate Charlie.

 

The thing behind him is a massive steamroller. You can't see most of it.

 

 

(† Any similarity in name to posters here or on any "other site" is merely coincidental.)

[ologhai]

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

It's getting rolled over to infinity. Monetization of bad debt.

 

Hey, GF -- you may be pleased to know that you've not been forgotten at HPC.co.uk.

 

Even RealistBear's asking after you!

 

http://www.housepricecrash.co.uk/forum/ind...t&p=1023770 -- actually, this whole thread is fun to read!

[G0ldfinger]

They have just found another blackhole in the German bank IKB. Trading has been suspended.

 

Article in German: http://www.spiegel.de/wirtschaft/0,1518,542663,00.html

 

Credit crunch gathering momentum.

[ologhai]

They have just found another blackhole in the German bank IKB. Trading has been suspended.

 

Article in German: http://www.spiegel.de/wirtschaft/0,1518,542663,00.html

 

Credit crunch gathering momentum.

 

I was going to say, 'I don't understand it -- it's in German,' but then I realised that when I normally don't understand the contents of articles written in English that you link, I don't normally mention it, so...

 

[G0ldfinger]

Hey, GF -- you may be pleased to know that you've not been forgotten at HPC.co.uk.

 

Even RealistBear's asking after you!

 

http://www.housepricecrash.co.uk/forum/ind...t&p=1023770 -- actually, this whole thread is fun to read!

Send them my regards. And, no, not a selling opportunity, but a buying opportunity.

[Steve Netwriter]

How odd. I thought HPC didn't allow gold threads in the main area

I've not been there for a while, and when I do, there are only 2x pages of new threads

Is everyone out buying Easter Eggs ? Or is HPC rather quiet these days ?

 

Gold Is In Meltdown, - 8% in 3 days

http://www.housepricecrash.co.uk/forum/ind...c=71314&hl=

 

I wonder whether the author of the thread realises gold keeps its value even after being melted down

 

[Steve Netwriter]

He's Charlie†, the gold bear. He's sitting pretty now, but I have a feeling sometime later this year things could go awry for our mate Charlie.

 

The thing behind him is a massive steamroller. You can't see most of it.

 

 

(† Any similarity in name to posters here or on any "other site" is merely coincidental.)

 

Ahhhhhhh, all becomes clear

 

[Steve Netwriter]

Send them my regards. And, no, not a selling opportunity, but a buying opportunity.

 

Don't know whether it will stay there:

 

http://www.housepricecrash.co.uk/forum/ind...t&p=1023991

 

 

 

[marmite]

Anyone else notice that there is a lot more talk on Gold on CNBC on the way down then there has been on the way up.

 

Watching it this morning they seem to be mentioning the fall of Gold at least every 15minutes. The past few weeks there has been a reluctance to mention its rise unless pushed.

 

We all knew that there would be a huge battle at the round number $1000.

 

How far the battle will go, who knows ?

When should we pull the trigger, who knows ?

 

For the moment I think ill hold out and hope for $850 to add. I hope I dont regret missing this dip

 

 

[wheelybin]

I was going to say, 'I don't understand it -- it's in German,' but then I realised that when I normally don't understand the contents of articles written in English that you link, I don't normally mention it, so...

 

First paragraphs go along the lines of...

 

The problems with the middle sized bank IKB are even worse than feared. The Institute expects a loss of 800 million euros for the current business year. The state owned KfW Bank is now throwing capital in. The IKB shares were temporarily suspended.

 

It's all a lot worse than expected. The embattled mid sized bank IKB has much bigger write downs than at first assumed. In the tax year 2007/08 that finsishes at the end of March, losses are now expected to be 800 million euros, the IKB reported. Till now, the Institute (IKB) had reckoned with a loss of 550 million euros, or 700 million at the very most.

 

bit busy so no time to translate the lot, but you get the idea.

 

[AuxArmes]

Hey, GF -- you may be pleased to know that you've not been forgotten at HPC.co.uk.

 

Even RealistBear's asking after you!

 

http://www.housepricecrash.co.uk/forum/ind...t&p=1023770 -- actually, this whole thread is fun to read!

 

Oh no, they're having the particle accelerator argument again!

 

As this is my first post I suppose I should say something constructive. Erm......

 

Well, I'm a refugee from HPC too. I still occasionally have a look over there but it is getting a bit too silly e.g. yesterday's "check out the huge queues outside the Halifax, we're all doomed!" thread(s). Queues that didn't actually exist.

 

I have a modest interest in gold bought at an average of £365 per ounce and for reasons of long-term insurance so short-term corrections aren't bothering me. Now my silver, on the other hand, was bought for my cunning get rich quick scheme so that's a bit more painful to watch. It's still over 10% up on what I paid so I've just got to keep the faith on that one and top up when it reaches bargain levels.

 

They're both stunners compared to my bank shares.

 

[Justin Thyme]

Patience, patience. Climb that wall of fear. All those fresh new dollars have not suddenly disappeared.

 

Absolutely spot on. It is disconcerting to see the prices drop like this but there is no doubt that the trillion or so extra bucks - so far - floating around the financial system and the certaintly of the long-term trend in commodities will see buyers PILE in sooner than the pundits think. I'm going to keep a very, very close eye on the price action in the coming days.

 

I'm not paying much mind to the very negative technical analysis that the talking heads on Gloomberg trot out to talk down gold and oil - all of these guys are wearing threadbare £129.99 suits and ties from Asda fer cryin' out loud and, more importantly, TA simply cannot predict events of the magnitude that we've seen in the last week or so.

 

 

[wren]

How odd. I thought HPC didn't allow gold threads in the main area

I've not been there for a while, and when I do, there are only 2x pages of new threads

Is everyone out buying Easter Eggs ? Or is HPC rather quiet these days ?

I wasn't there before the policy of one gold thread in the main forum was decided (a good policy all in all).

 

I get the feeling they may be getting back to what I suppose was the earlier problem: multiple gold threads, which understandably could get on people's nerves. Some days recently they've had 2 or even 3 gold threads on page 1 of the main forum. Gold gets repeatedly mentioned in other threads as well: the "yellow metal" and so on.

 

Shot themselves in the foot for sure.

 

Nice to hear that cgnao is still going strong.

 

I don't post much over there partly because I'm back on moderation after linking to this site. My posts either don't appear at all or take 10 hours to do so.

[Bobsta]

You were using leverage right ?

Maybe it's time to take Jim Sinclair's advice and not do that. He has some quite strong views on that from what I've read.

 

As he keeps saying, "they can't short physical in your hand"

 

I haven't lost anything "because I ain't selling"

Yep, using leverage... but "leverage I can afford" (if that makes sense and doesn't come across as arrogant). By that I mean I hold positions that were fully backed by cash in savings accounts.... I went over this on the way down and that's what's hurting me now.

 

I've kept the positions open (closed out a little) but the killer is watching your "on screen profits" shrink so massively from Monday morning to today.

 

Getting a margin call from Cantor Index this morning whilst walking past the BoE was kinda ironic...

 

I completely agree that if I had a stack of gold and silver coins at home this drop wouldn't be anywhere near as obvious and painful.

 

 

[crudeFool]

Hi.

 

Hmm - 1oz Krugerrands are still selling for around £492 on both Goldline and CoinInvestDirect.

 

Wonder if they'll drop the prices? Maybe they don't want to sell as they'll make a heft loss??

 

Regards,

crude.

[CIGA]

Hey, GF -- you may be pleased to know that you've not been forgotten at HPC.co.uk.

 

Even RealistBear's asking after you!

 

http://www.housepricecrash.co.uk/forum/ind...t&p=1023770 -- actually, this whole thread is fun to read!

 

That thread is unbeleivable, folks if you want to gage what the dumb people of today think of gold, just read that thread, everyone licking each others arses shouting defaltion, gold metdown, crash, yipee, we are right HAAAAA, blah blah blah. If they're not in why such excitement?

 

These people actually believe a 2 day correction is the sign of an end to an 8 year boom, even thoguh the fundamentals are still in tact and no catalysts has been stated.

 

I think I will bookmark that thread and refer to it several times on their site when gold continues to shine and eventually wins as the ultimtae store of value and the only true currency. In fact as I am buying at the moment i might post that I am buying and refer to that specific post also - then agaion maybe not, i don;t actually think I can be bottherd to even type the url into my browser or click on any links to it.

 

The site has degenrated into a crazed frenzy of single minded neanderthals, the worst mistake they could possibly have made was to lose their gold posters at HPC as we were making a counter argument and discussion ro rheir deluded deflation/gold meltdown/slight recession/ sheeple thoughts, now they just pat each other on the back and tell each other how great they are for realising deflation is an axiom and gold was/is in a bubble. Crazy. I'm so glad the gold thread is dead there, that site doesn't deserve one, I say let them fail in their ignorance.