CIGA Posted June 4, 2008 Report Share Posted June 4, 2008 Please tell me that Gold and Silver's little sulk isn't down to the markets liking what they heard from Bernanke yesterday in Spain!? I haven't read the full transcript of his speech (I'm on holiday, after all!) but this dissection by Market Oracle makes great (but worrying) reading: http://www.marketoracle.co.uk/Article4939.html His speech is turd, as long as the dollar index does not rise above 73.65 the dollar is still in downtrend mode and long term bullish for gold - Lets see if James Turk is right and we see a dollar index crisis this summer. A lot, if not almost all commentators are expecting a seasonal dull summer for gold with the possibility of falls below 850. There are a couple saying gold is no longer going to behave seasonally in the near/medium term, the fundamentals underpinning the price of gold will take over the seasons. My position is to hold my position, i have just added some more silver, I cannot see silver dropping below $16 or gold below 845, but I have some dry powder just in case. Good Luck ALL! Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 4, 2008 Author Report Share Posted June 4, 2008 This is soooo totally unexpected -- I could hardly believe it. :lol: U.K. Service Industries Unexpectedly Contract; Consumer Confidence Slumps http://www.bloomberg.com/apps/news?pid=206...&refer=home Link to comment Share on other sites More sharing options...
marceau Posted June 4, 2008 Report Share Posted June 4, 2008 This is soooo totally unexpected -- I could hardly believe it. :lol: U.K. Service Industries Unexpectedly Contract; Consumer Confidence Slumps http://www.bloomberg.com/apps/news?pid=206...&refer=home The really funny thing is that this probably was totally unexpected for most professional analysts, media pundits and economists. They still think this is all just going to go away - what a bunch of halfwits. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 4, 2008 Author Report Share Posted June 4, 2008 A colleague always warns me that an Obama election will mean strong USD since 'they' will try to make his life difficult and get rid off him. Any comments? I am not entirely convince of the argument. Seems too conspiracy-like. Link to comment Share on other sites More sharing options...
Magpie Posted June 4, 2008 Report Share Posted June 4, 2008 A colleague always warns me that an Obama election will mean strong USD since 'they' will try to make his life difficult and get rid off him. Any comments? I am not entirely convince of the argument. Seems too conspiracy-like. I think 'they' are more likely to foment some trouble with Iran (good for McCain as it plays to foreign policy), or just use the fact they control the Diebold machines to rig another election. They don't seem to be having much luck at controlling the economy just now, so I can't see how they can magically fix it to influence the election. Link to comment Share on other sites More sharing options...
torino Posted June 4, 2008 Report Share Posted June 4, 2008 Regarding Gold : are you all BULLISH? Is there anybody here who is bearish about it. I am thinking of melting my "metalwork of arts" and selling the metal. Link to comment Share on other sites More sharing options...
kernull Posted June 4, 2008 Report Share Posted June 4, 2008 Seems Bernanke speek can still unfluence the USD. and what is amazing, is that it goes to the wrong side on bad news Link to comment Share on other sites More sharing options...
kernull Posted June 4, 2008 Report Share Posted June 4, 2008 Regarding Gold : are you all BULLISH? Is there anybody here who is bearish about it. I am thinking of melting my "metalwork of arts" and selling the metal. I am bullish. I see a an increasing slow (but stable) pattern in my charts, oil is going to stay at 120 for a while, not much room for gold to go down as it became oil-resistant lately Link to comment Share on other sites More sharing options...
yaowarat Posted June 4, 2008 Report Share Posted June 4, 2008 A colleague always warns me that an Obama election will mean strong USD since 'they' will try to make his life difficult and get rid off him. Any comments? I am not entirely convince of the argument. Seems too conspiracy-like. If a decision was to be made to "pull a Volcker" you'd have to guess it would come shortly after the election of the "big 0'. It sure won't happen before the election and once the magic first 100 days are over it gets much harder to institute tough policy changes. Link to comment Share on other sites More sharing options...
yaowarat Posted June 4, 2008 Report Share Posted June 4, 2008 If a decision was to be made to "pull a Volcker" you'd have to guess it would come shortly after the election of the "big 0'. It sure won't happen before the election and once the magic first 100 days are over it gets much harder to institute tough policy changes. I'd add a few more points Don't forget Volcker was appointed by Carter, not Reagan. Some of Obama's advisors are ex-Carter people, like Brezhinski and Volcker. We all know the noise Volcker has been making. The interesting thing about Brezhinski is he is not a neocon and has a very different attitude about Isreal and the ME in general. I don't like Obama, I don't like ANY of the candidates.. but an Obama presidency would be interesting. Let's not forget should a Volcker type be appointed and interest rates raised to 18%, the US economy would go into a severe liquidation phase, probably leading to massive political unrest. My guess is inflation will prevail with a President Obama. The Volcker route is too dangerous. Link to comment Share on other sites More sharing options...
azazel Posted June 4, 2008 Report Share Posted June 4, 2008 I just been stitched up like a kipper on a gold sovereign on ebay. I got sent a silver crown instead! I specifically asked about the colour looking a bit grey and she confirmed it was defiantly gold. She now claims that a coin collector told her it was a gold sovereign, but she sold a gold sovereign a few weeks ago so she must know what one looks like. She has agreed to pay refund if I send it back. She got good feedback and seems genuine. I offered her £13.00 for it but she did not take me up on it. First time I had bad experience with ebay. Link to comment Share on other sites More sharing options...
narco Posted June 4, 2008 Report Share Posted June 4, 2008 I just been stitched up like a kipper on a gold sovereign on ebay. I got sent a silver crown instead! I specifically asked about the colour looking a bit grey and she confirmed it was defiantly gold. She now claims that a coin collector told her it was a gold sovereign, but she sold a gold sovereign a few weeks ago so she must know what one looks like. She has agreed to pay refund if I send it back. She got good feedback and seems genuine. I offered her £13.00 for it but she did not take me up on it. First time I had bad experience with ebay. Umm lol I got reverse stiched up by coininvestdirect today. Ordered a small stack of random silver coins and ended up being sent 2 nuggets for my troubles. Link to comment Share on other sites More sharing options...
notanewmember Posted June 4, 2008 Report Share Posted June 4, 2008 Well if experts are getting it wrong - its not a bubble Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted June 4, 2008 Report Share Posted June 4, 2008 Umm lol I got reverse stiched up by coininvestdirect today. Ordered a small stack of random silver coins and ended up being sent 2 nuggets for my troubles. I feel so sorry for you... coins as beautiful as those, and you'll never want to part with them when the time comes to sell. Link to comment Share on other sites More sharing options...
narco Posted June 4, 2008 Report Share Posted June 4, 2008 I feel so sorry for you... coins as beautiful as those, and you'll never want to part with them when the time comes to sell. I'm sending em back tomorrow. They called me this morning saying they'd sent my silver to someone else by mistake... Its a shame but you're right, these are superb coins. I'm seriously interested in getting hold of one of these nugget next pay day. Link to comment Share on other sites More sharing options...
azazel Posted June 4, 2008 Report Share Posted June 4, 2008 Umm lol I got reverse stiched up by coininvestdirect today. Ordered a small stack of random silver coins and ended up being sent 2 nuggets for my troubles. woooot! They must be worth about £900. How did that work out? How do you buy a random stack of silver coins on coininvestdirect? Cant see it listed anywhere..... I ordered the Britannia's BTW What are the two kangaroos doing on that coin? Making Joeys? Link to comment Share on other sites More sharing options...
narco Posted June 4, 2008 Report Share Posted June 4, 2008 woooot! They must be worth about £900. How did that work out? How do you buy a random stack of silver coins on coininvestdirect? Cant see it listed anywhere..... I ordered the Britannia's BTW Oh i just bought a mix of random silver coins, panda's, kooks, koala's and libertads. Where did you get the britannias from? Link to comment Share on other sites More sharing options...
narco Posted June 4, 2008 Report Share Posted June 4, 2008 What are the two kangaroos doing on that coin? lol that one cracked me up as well Link to comment Share on other sites More sharing options...
azazel Posted June 4, 2008 Report Share Posted June 4, 2008 Oh i just bought a mix of random silver coins, panda's, kooks, koala's and libertads. Where did you get the britannias from? Coininvestdirect I asked why they dont list them. No interest apparently. She gave me a quote for 50. Name: Silver coin "Brittannia 1 Ounce 2 Pounds" (Great Britain) (Part No. 20901) Price: 12.50 Pounds VAT: 43.75 Pounds (7%) Quantity: 50 Total: 668.75 Pounds Shipping price: 11.85 Pounds ORDER TOTAL: 680.60 Pounds Link to comment Share on other sites More sharing options...
narco Posted June 4, 2008 Report Share Posted June 4, 2008 Coininvestdirect I asked why they dont list them. No interest apparently. She gave me a quote for 50. Interesting. Wonder if they will sell in smaller quantities. I'll ask tomorrow i think Link to comment Share on other sites More sharing options...
azazel Posted June 4, 2008 Report Share Posted June 4, 2008 Interesting. Wonder if they will sell in smaller quantities. I'll ask tomorrow i think Yes I think they will. She said that they are getting some more. I think they will try and get anything you want. I know that they will buy gold bars even though they don't sell the same "brands". How many Britannias are you after? Link to comment Share on other sites More sharing options...
drbubb Posted June 4, 2008 Report Share Posted June 4, 2008 Ben Bernanke has succeeded in talking the dollar up towards the top of the range Give it a few more days. and you may have a great dollar-shorting opportunity. And if the dollar starts dropping again, Gold should go up too. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted June 4, 2008 Report Share Posted June 4, 2008 Did anyone actually read his whole speech ? I've just read the senate hearing minutes on global warming. Now that is long. Very very long. But it's way more interesting than Ben's speech IMO. Maybe I'm just suffering from reading overload Link to comment Share on other sites More sharing options...
yaowarat Posted June 4, 2008 Report Share Posted June 4, 2008 Ben Bernanke has succeeded in talking the dollar up towards the top of the range Give it a few more days. and you may have a great dollar-shorting opportunity. And if the dollar starts dropping again, Gold should go up too. How would the conventional market respond to a strengthening dollar? Last week's DJI didn't respond well. Despite the constant groan from some on bubble vision about the imperative of a strong dollar, I think the market really doesn't want a strong dollar, and all that goes with it. http://finance.yahoo.com/q/bc?s=%5EDJI Link to comment Share on other sites More sharing options...
sylvester Posted June 5, 2008 Report Share Posted June 5, 2008 Second most emailed story at BBC News (at 23.50 GMT on Wednesday): 30 years of gold highs and lows Gold is traditionally the store of value to which investors turn in times of instability. Its price goes up and down just like other investments, but it does not tend to fluctuate as much as shares, it is not threatened by inflation and it is accepted all over the world. The recent peaks and troughs of the gold price occurred at some of the key moments in economic history. http://news.bbc.co.uk/2/hi/business/7284184.stm Link to comment Share on other sites More sharing options...
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