electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 Wa hay ! £513.70/oz UK Banks to get access to 50Bn to recapitalise via govt ownership , also bailed out from future debt payments according to pesto. A run on the currency is now a real possibility. I guess that's driving the fear now. Link to comment Share on other sites More sharing options...
sylvester Posted October 8, 2008 Report Share Posted October 8, 2008 Wa hay ! £513.70/oz Back over $900 :-) Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 8, 2008 Report Share Posted October 8, 2008 Gold is looking pretty good against a few currencies now. NZD1,465.00/oz The only competition seems to be JPY and presumably Swiss Francs (which I don't really follow) $903.95 already. That's quite some up move. Dare I........ Link to comment Share on other sites More sharing options...
sylvester Posted October 8, 2008 Report Share Posted October 8, 2008 Dare I........ Don't do it Steve! Not till $1000!!! Link to comment Share on other sites More sharing options...
bitbigt Posted October 8, 2008 Report Share Posted October 8, 2008 I'll also stick my neck out with a prediction for this month... - DOW and FTSE start to fall precipitously, such that they reach 10000 and 4500 by month end - emergency base rate cuts happen or are signalled (BoE missed its chance today) - commercial bank baleouts extended / increased - Sterling will fall further, reaching 1.65 vs USD, with the fall only minimised by the fact the USDX will peak out and start to slide - oil does not fall below 90 (and possibly not even or much below 100), and the fact that its refusing to go lower will become a palpable concern to economists/media - inflation stats rise significantly - all the above will cause a ramp up in fear, and gold will start to rally (6-8% up in USD, 10-15% in GBP, by months end) [EDIT: and my bones even sense a black swan approaching ...Russia? major bank collapse? terrorist attack? high-profile Western assasination?] - bundle of fun aren't I OK - in my post of one month ago I was out by 1 week ...who thought I was mad at the time? You really don't want to know what I'm expecting for this current month Link to comment Share on other sites More sharing options...
azazel Posted October 8, 2008 Report Share Posted October 8, 2008 Gold is looking pretty good against a few currencies now. NZD1,465.00/oz The only competition seems to be JPY and presumably Swiss Francs (which I don't really follow) $903.95 already. That's quite some up move. Dare I........ only the steam rocket Steve. Save the biggies for another day. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 8, 2008 Report Share Posted October 8, 2008 OK - in my post of one month ago I was out by 1 week ...who thought I was mad at the time? You really don't want to know what I'm expecting for this current month I didn't think you were mad. Just a little optimistic OK, I've got a stiff drink. Let me have it. NO wait !!!! I'll sit down first. OK. Link to comment Share on other sites More sharing options...
bakachu Posted October 8, 2008 Report Share Posted October 8, 2008 If I may do the honours Steve : Link to comment Share on other sites More sharing options...
LauraB Posted October 8, 2008 Report Share Posted October 8, 2008 You really don't want to know what I'm expecting for this current month Some of us do ........ please .... Link to comment Share on other sites More sharing options...
sylvester Posted October 8, 2008 Report Share Posted October 8, 2008 Damn you Netwriter, even the mention of the 'projectile that shall not be named' has dented the upswing... Link to comment Share on other sites More sharing options...
azazel Posted October 8, 2008 Report Share Posted October 8, 2008 If I may do the honours Steve : Ah! How America has fallen from its glory days! Link to comment Share on other sites More sharing options...
electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 Ah! How America has fallen from its glory days! I assume you meant the shoddy replacement for the NASA space shuttle prgramme above??"!"!! Link to comment Share on other sites More sharing options...
jinbal Posted October 8, 2008 Report Share Posted October 8, 2008 Don't want to sound smug in any way but, I've noticed that some of the most vehement anti-gold posters on HPC are getting a bit of a shock at just how serious this is getting, particularly ones with turdling in Icesave......... Link to comment Share on other sites More sharing options...
electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 Don't want to sound smug in any way but, I've noticed that some of the most vehement anti-gold posters on HPC are getting a bit of a shock at just how serious this is getting, particularly ones with turdling in Icesave......... name names, my man! (link to a thread!?) Link to comment Share on other sites More sharing options...
bitbigt Posted October 8, 2008 Report Share Posted October 8, 2008 Some of us do ........ please .... ...oh alright then, since you said please A prediction for October... - DOW and FTSE may have (at best) a small relief rally (due to ramped up bank bale outs, plus many rate cuts globally). But banks are shot as a long term investment theme, and general earnings across many sectors will dissapoint. So by months end DOW and FTSE will be no higher than today, and perhaps as low as (or will have touched) 950 and 400 respectively. These numbers are still 10-20% above the absolute bottoms that will be reached briefly during the next 6-12 months. - 50% chance of a bank holiday week - dramatic emergency base rate cuts happen globally (BoE may even announce 0.5% today, 1 day earlier than expected) - Sterling will fall further, reaching the 1.65 vs USD level I predicted for September. After this month, the dollar will tank. - As I predicted, oil did not fall below 90 is Sept. But I think we'll see 75-80 this month, and over the next 6 months it may even touch 65-70 [and if so, load up!!!!!]. - Western inflation fails to drop significantly this month, and UK CPI may actually exceed 5%. Longer term they're on there way up [and note: real CPI from shadowstats is already >13%] - all the above will cause a ramp up in fear, and gold will rally further (950-1000 in USD, >550% in GBP, by months end) ...and still awaiting some deliberate 'distraction' in Iran EDIT: despite my general hatred of this current government leadership, I have to say that the leadership on banks (amounts and strategy) shown by Alister Darling today is excellent. It will lead the way for countries out of this current pannick Link to comment Share on other sites More sharing options...
Rikk03 Posted October 8, 2008 Report Share Posted October 8, 2008 Darling just announced on BBC news that Icesave can't meet its obligations to repay the savings to UK investors ...... but as a result Darling said that he WILL GUARANTEE 100%. UK tax payer bailing out foreign banks ...... shocking. Jeez ...... whatever next. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 8, 2008 Report Share Posted October 8, 2008 Damn you Netwriter, even the mention of the 'projectile that shall not be named' has dented the upswing... Hey it wasn't me I was just thinking "Dare I......go and have some dinner, or should I keep watching" :lol: Look at this spike in the US$JPY !!!!! That's 1.5% !!! Talk about volatile. Anyway, I was really thinking of something more like this Although I love the r***et above Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 8, 2008 Report Share Posted October 8, 2008 Darling just announced on BBC news that Icesave can't meet its obligations to repay the savings to UK investors ...... but as a result Darling said that he WILL GUARANTEE 100%. UK tax payer bailing out foreign banks ...... shocking. Jeez ...... whatever next. That deserves something special. It really is time to Link to comment Share on other sites More sharing options...
electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 FTSE tanking -4% in first hour. Market wants a rate cut. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 8, 2008 Report Share Posted October 8, 2008 I get the impression we are witnessing something right now. Am I the only one getting a funny feeling about this ? £516.10/oz US$909.15 Next leg up..... Link to comment Share on other sites More sharing options...
mattyboy Posted October 8, 2008 Report Share Posted October 8, 2008 I get the impression we are witnessing something right now. Am I the only one getting a funny feeling about this ? £516.10/oz US$909.15 Next leg up..... I know what you mean. Everything is happening very fast now. I just want to say - not that I'm getting sentimental - that I'm glad I own gold and silver right now, and even tho this is not the end (and we could always see those gut wrenching down days again) that it was this forum in particular that I read to keep my confidence in S&G and it kept me in the game. Cheers guys! ps yes I have been absolutely slaughtered on juniors and resource stocks, but in AUD things don't look quite as bad (so long as I don't leave the country for a while! ) Link to comment Share on other sites More sharing options...
allyjcambo Posted October 8, 2008 Report Share Posted October 8, 2008 I have a decent chunk of cash on standby in my BV account. Should I drip feed it in with certain price targets in mind or do people think we’re passed that point and should I just load up now (n.b. my savings are in £GBP and I would rather be in gold going forward than in this currency)? Mind you and FWIW, Paul van Eeden still thinks gold’s fair price is $760.He also thinks the commodities bull is over – see the latest video (which I saw last night) posted on his website. Thanks again to the posters here (and a particular thanks to Wrongmove and Magpie who keep the other (and wise) posters in check and challenge them on their positions). This is what marks GEI out – you have mostly very sensible debate without things being reduced to personal abuse. I don’t post a huge amount myself but I do read almost all of the posts and value the insight highly. OG, I would second your suggestion re a conference call. Like you I too am fairly green in all of this and stand to gain a huge amount from any audio exchange. AJC Link to comment Share on other sites More sharing options...
romans holiday Posted October 8, 2008 Report Share Posted October 8, 2008 I have a decent chunk of cash on standby in my BV account. Should I drip feed it in with certain price targets in mind or do people think we’re passed that point and should I just load up now (n.b. my savings are in £GBP and I would rather be in gold going forward than in this currency)? Mind you and FWIW, Paul van Eeden still thinks gold’s fair price is $760.He also thinks the commodities bull is over – see the latest video (which I saw last night) posted on his website. Thanks again to the posters here (and a particular thanks to Wrongmove and Magpie who keep the other (and wise) posters in check and challenge them on their positions). This is what marks GEI out – you have mostly very sensible debate without things being reduced to personal abuse. I don’t post a huge amount myself but I do read almost all of the posts and value the insight highly. OG, I would second your suggestion re a conference call. Like you I too am fairly green in all of this and stand to gain a huge amount from any audio exchange. AJC Hi AJC- Must say it was nice to get home from work and see gold at 910. As for your question, I think it depends on how much of your net worth is already in PMs. Personally, i have basically all my net worth in gold now... so feel I can afford to wait for a dip which may come before buying again. Also, I might sell a tiny bit on a spike in the hope of rebuying on a dip [once again, I only consider this as I am already all in and suspect we will still see some volatility. If a fishing line fails to develop... no skin of my nose and some decent cash in the bank with profit.... need a bit right]. But that is my personal situation. If you do not have much in PM now, I would say go for it and build a decent base there. Edit: Was quite shocked to see the Aussie at 67! It was near parity with the US dollar just a few months ago. This reflects the hammering the commodities is taking at the moment. Good to see POG has decoupled from commodities. I think the commodities will recover once the US dollar starts to tank in a few months time. Before the dollar tanks might be a great time to invest in them. Link to comment Share on other sites More sharing options...
signofthetimes Posted October 8, 2008 Report Share Posted October 8, 2008 FTSE tanking -4% in first hour. Market wants a rate cut. Petulant gits, they only have to wait till tomorrow! Link to comment Share on other sites More sharing options...
warpig Posted October 8, 2008 Report Share Posted October 8, 2008 This is of course only my opinion, you should have put it all in on Sunday. Fundamentals, fundamentals, fundamentals... I have a decent chunk of cash on standby in my BV account. Should I drip feed it in with certain price targets in mind or do people think we’re passed that point and should I just load up now (n.b. my savings are in £GBP and I would rather be in gold going forward than in this currency)? Mind you and FWIW, Paul van Eeden still thinks gold’s fair price is $760.He also thinks the commodities bull is over – see the latest video (which I saw last night) posted on his website. Thanks again to the posters here (and a particular thanks to Wrongmove and Magpie who keep the other (and wise) posters in check and challenge them on their positions). This is what marks GEI out – you have mostly very sensible debate without things being reduced to personal abuse. I don’t post a huge amount myself but I do read almost all of the posts and value the insight highly. OG, I would second your suggestion re a conference call. Like you I too am fairly green in all of this and stand to gain a huge amount from any audio exchange. AJC Link to comment Share on other sites More sharing options...
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