wren Posted July 23, 2008 Report Share Posted July 23, 2008 Is there a way to find out how much gold the IMF and world bank hold? Also, I think China is actually the largest holder of physical gold : is that true? This page at the World Gold Council has links to up-to-date statistics but you need to create an account to view them (free I think, I don't have an account). http://www.reserveasset.gold.org/ Create an account at this page: http://www.gold.org/user/register/ Link to comment Share on other sites More sharing options...
GTG Posted July 23, 2008 Report Share Posted July 23, 2008 EDIT: the Swiss model would suggest that more honest models can work. They educate their people well, respect their views on all matters via small 'counties' that make many of their own rules and can call their own referenda, and everyone works hard and to a high quality. Their currency is therefore stable - especially in times of turmoil elsewhere - and they're still now comfortable with a base rate of just 3%. Consequently the populace is all quite wealthy, genuinely!!! The adjoining tax haven of Campione D'Italia takes my fancy but with a studio costing CHF 380,000 it's out of my league ATM. http://www.immowehner.ch/Immo/1%20%26%202%...20BEDROOMS.html Link to comment Share on other sites More sharing options...
wren Posted July 23, 2008 Report Share Posted July 23, 2008 918.20 gold 17.340 silver An amazing 2 days. Could be good for those still with cash to spend. Time for the theme tune, I think: Link to comment Share on other sites More sharing options...
Pixel8r Posted July 23, 2008 Report Share Posted July 23, 2008 I find it interesting that the USDX is now at the 50 day MA on the daily chart. Hopefully tomorrow will be a kiss goodbye to all talk of a strong dollar policy and the index will get below 0.71. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted July 23, 2008 Report Share Posted July 23, 2008 I find it interesting that the USDX is now at the 50 day MA on the daily chart. Hopefully tomorrow will be a kiss goodbye to all talk of a strong dollar policy and the index will get below 0.71. yet again i feel like im living in a parallel universe at the moment - US Govt to bail out Fannie and Freddie and Gold goes down Link to comment Share on other sites More sharing options...
frizzers Posted July 23, 2008 Report Share Posted July 23, 2008 In the March sell-off - which this resembles - we got three big down days, then a bounce for three or four days, then another three down days. It is possible, if not likely, that this pattern may repeat. In which case we get another down day tomorrow, a bounce and then a retest of 850. The other thing to note is that Bear Sterns sold off a lot of gold in March as they met their margin calls. Then their famous announcement was made. Has another big player gone bust here? Link to comment Share on other sites More sharing options...
electroweak Posted July 23, 2008 Report Share Posted July 23, 2008 I just can't help thinking that this is all coming from the lack of 'meltdown news' over the last few days; I mean look at HBOS, for gawd's sake: up 16% today. Not to mention RBS (+11%) BARC (+11%). I think this must be the "creamy filling" effect. Are equities buyers are in la-la land? A few major corporate bankruptcies and/or a major financial going to the wall would be the end of the creamy filling, followed by the "puke-it-up phase", IMO. I am just a little disappointed at gold's performance for the last few days, but then, the makeover boys have been working overtime! EDIT just saw Washingtom mutual's chart for the day. Not pretty. Washington Mutual, Inc. 4.63 -1.19 (-20.45%) I voted for them as the next biggie to go about a week ago. Then the share price strode back to health. hmm.. Link to comment Share on other sites More sharing options...
Pixel8r Posted July 23, 2008 Report Share Posted July 23, 2008 In the March sell-off - which this resembles - we got three big down days, then a bounce for three or four days, then another three down days. It is possible, if not likely, that this pattern may repeat. In which case we get another down day tomorrow, a bounce and then a retest of 850. The other thing to note is that Bear Sterns sold off a lot of gold in March as they met their margin calls. Then their famous announcement was made. Has another big player gone bust here? We have a ringside seat to the greatest show in the world, going to be very interesting viewing over the next few days. Link to comment Share on other sites More sharing options...
bitbigt Posted July 23, 2008 Report Share Posted July 23, 2008 I just can't help thinking that this is all coming from the lack of 'meltdown news' over the last few days... And/Or its all about the falling oil price! That's the one thing the PPT needed to push down, and they've obviously been working overtime to make it happen. I think that's what has caused this temporary increase in confidence amongst investors - hence stocks up, dollar up, and PMs down. But that's not a durable new reality, because of the basic supply/demand equation ...Chindia is not using less oil day by day, even if its perhaps not increasing its use so rapidly. Meanwhile the rate at which its being pulled out of the ground and refined is barely increasing. So I suspect oil will find a floor at 120-ish, whereupon the fear will start to return to the markets and PMs will reach for new highs. Alternatively, if PPT do manage to push oil down to nearer 100, then I'm happy with that also: a. We can buy lots of oil ETFs, expecting price to hit 200 in next few years b. gold and silver will revisit the 880 / 16.50 range, and we can buy lots of these also c. markets and economies will race ahead, pushing inflation through the roof, followed shortly thereafter by gold Link to comment Share on other sites More sharing options...
bitbigt Posted July 23, 2008 Report Share Posted July 23, 2008 yet again i feel like im living in a parallel universe at the moment - US Govt to bail out Fannie and Freddie and Gold goes down Indeed. Why can't the PPT just keep there mits out of it... ...oil would stay high, gold would spike, a natural and needed slowdown would follow, inflation and gold would fall naturally, dollar would not be so pressured, and we could all get back to rebuilding our economies from a sensible starting point - without having wasted untold billions of taxpayers money on their misguided manipulation excercises. They're basically running up a down escalator, using up our energy (money) in the efforts to do so. Why not instead save that energy, accept the ineviatble journey to the bottom, and then get on the far more effective up escalator? Damn PPT really are some kind of well-meaning but short-sighted busy-bodies: doing more harm than good in the long run. That's clearly the lesson from all previous periods of economic turmoil! ...Yes - I'm angry!!!! ...off to a nice warm bath to calm down, and read MoneyWeek Link to comment Share on other sites More sharing options...
Chubbs Posted July 23, 2008 Report Share Posted July 23, 2008 I'll be honest - I felt complete empathy with Wren's idea last week that it would be good to go all in and not have to worry about prices every day - and was more than happy to do it on the pullback to 950. I should have expected it to cause me stress so quickly :-) I just wished HBOS would transfer some more money quickly out of some otherwise-not-destined-for-gold-savings so I could buy into this awesome dip! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 23, 2008 Report Share Posted July 23, 2008 It's nice to be missed! Yes, I did see your chart, and I can't deny that a 40% increase in value would be nice... But do you really think that will happen every year for several years? Part of the reason for asking the question is that if, say, 15% a year for several years is considered such a sure thing that it's silly to even ask the question, then, presumably, if it's a choice between high-rate savings or PMs, then everyone should consider putting all their money into PMs and immediately double their growth? So, to rephrase my original question a little, perhaps I should ask quantitatively how sure are we that gold and silver will grow by at least 15% a year? 50% sure? 80% sure? 90%? 95%? ... 100%? As I say, as we approach 100%, then there should be no reason to keep more than a little pocket change for emergencies in bank accounts, should there? That's a very good question. What's the answer ? I'll have to think about this for a while, and see if I can come with anything worthy. Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 24, 2008 Author Report Share Posted July 24, 2008 I've added some silver today. Could not earlier because of cash flow constraints. But happy to buy below $20 anyway. Slightly over 50% in physical silver now. My timing couldn't have been worse. But then, what do I worry. Many greetings from below the palm trees on the tropical beaches of Yucatan. Dollars still buy a lot here... OK, gotta get another piña colada. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 24, 2008 Report Share Posted July 24, 2008 My timing couldn't have been worse. But then, what do I worry. Many greetings from below the palm trees on the tropical beaches of Yucatan. Dollars still buy a lot here... OK, gotta get another piña colada. Hello from a flipping cold and wet New Zealand Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 24, 2008 Report Share Posted July 24, 2008 I have a theory. It is simply this. If you watch the price of silver in JPY, and it gets close to the MA, then that is a good buying price. That doesn't help at other times, but at those times, IMO you've got a good chance of buying at a good time. Lets see if this stand the test of time: (Copied to the silver thread) Link to comment Share on other sites More sharing options...
ologhai Posted July 24, 2008 Report Share Posted July 24, 2008 A link posted by 'Injin' on HPC.co.uk: Investors buy gold bars in record numbers Volatile stock markets and a lack of confidence in the UK banking system has boosted demand for gold bars and coins from private investors to levels not seen for 25 years. Article on the Telegraph website. Link to comment Share on other sites More sharing options...
romans holiday Posted July 24, 2008 Report Share Posted July 24, 2008 In the March sell-off - which this resembles - we got three big down days, then a bounce for three or four days, then another three down days. It is possible, if not likely, that this pattern may repeat. In which case we get another down day tomorrow, a bounce and then a retest of 850. The other thing to note is that Bear Sterns sold off a lot of gold in March as they met their margin calls. Then their famous announcement was made. Has another big player gone bust here? Yes, will be very interesting to see if gold gets hammered [bopped] again today.... 9.00 New York time. Perhaps this is more likely if it rises near 940 in the next few hours [can't keep a good thing down ]. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 24, 2008 Report Share Posted July 24, 2008 A link posted by 'Injin' on HPC.co.uk: Investors buy gold bars in record numbers Article on the Telegraph website. Interesting. They are talking about you lot Investors buy gold bars in record numbers By Paul Farrow Last Updated: 2:27pm BST 22/07/2008 http://www.telegraph.co.uk/money/main.jhtm...7/17/ymgold.xml Volatile stock markets and a lack of confidence in the UK banking system has boosted demand for gold bars and coins from private investors to levels not seen for 25 years. Tens of thousands of investors have rushed to buy gold from bullion dealers over the past year, during which the gold price has broken through the $1,000 barrier on occasions. Tony Baird of Baird & Co, one the UK's biggest gold bullion dealers, said business was getting busier and busier – with punters investing £1,500 to £150,000 in gold bars and coins. Baird, who has been in the gold business for 40 years, claimed that demand was on a par with the late 1970s. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 24, 2008 Report Share Posted July 24, 2008 Dear Jim and Dan, "Eventually the price of gold will seek a price such that the price of gold in USD times the amount of gold held by the US Treasury will equal the foreign external liabilities, thereby balancing the external balance sheet of the USA." This was said, written and advertised in Barrons in 1974 by Jim Sinclair when looking for $900 per ounce by the first quarter of 1980. Let’s assume that the US still holds roughly 262 million ounces (please save the snickering!). Since there will never be an audit, assume what they say they have, they do. Just released data by the U.S. Department of the Treasury reveals that federal debt held by foreign and international investors is $2438.6 billion. Click here to view the report Most CIGAs do not understand where gold is headed. Eric Dear Eric, I do not wish to discuss that price as it would have the same effect as yelling “fire” in a theater. So many readers use margin that it terrifies me. Say this and they would margin themselves to the neck, being ruined in a single reaction like now only to see the gold price rocket out from here. Regards, Jim http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=6481 $2438 600 000 000 / 262 000 000 = $9308/oz Link to comment Share on other sites More sharing options...
CIGA Posted July 24, 2008 Report Share Posted July 24, 2008 http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=6481 $2438 600 000 000 / 262 000 000 = $9308/oz SPPPOOOOKKKKYYYYY That figure $9308/oz is very very close to the Dr Bubb X10 Theory. Link to comment Share on other sites More sharing options...
rgleeson Posted July 24, 2008 Report Share Posted July 24, 2008 http://www.marketoracle.co.uk/Article5593.html If gold is alway pushed down for Option Expiry Day(s) by the bullion banks, why not run with the big dogs - you can't loose shirly? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 24, 2008 Report Share Posted July 24, 2008 http://www.marketoracle.co.uk/Article5593.html If gold is alway pushed down for Option Expiry Day(s) by the bullion banks, why not run with the big dogs - you can't loose shirly? Don't call me Shirley Thanks for posting that. I read a comment about that on Jim's site and wanted data on it. You've saved me a search ----------- CIGA, Synchronisity Link to comment Share on other sites More sharing options...
sossij Posted July 24, 2008 Report Share Posted July 24, 2008 Here they come again. Link to comment Share on other sites More sharing options...
MattFC Posted July 24, 2008 Report Share Posted July 24, 2008 anyone else notice this on silver a minute ago (15:50BST).. I see same for gold Link to comment Share on other sites More sharing options...
sossij Posted July 24, 2008 Report Share Posted July 24, 2008 Titanic struggle going on right now - Goldzilla vs. Fedthra. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now