bitbigt Posted October 8, 2008 Report Share Posted October 8, 2008 A prediction for October... - dramatic emergency base rate cuts happen globally (BoE may even announce 0.5% today, 1 day earlier than expected) Nailed that one http://business.timesonline.co.uk/tol/busi...icle4906518.ece And I hear this is, indeed, part of an globally coordinated 'race to the bottom' for interest rates due to the chaos in everyones' economies. [EDIT: now even I might need to start posting rocket pictures!!!] Link to comment Share on other sites More sharing options...
MattFC Posted October 8, 2008 Report Share Posted October 8, 2008 5% is 2.5 times more than 2%, but 4.5% is 3 times more than 1.5%. What is counterintuitive about the GBP being improved relative to the dollar by this move? I stand corrected.. had just seen the newsflash which didn't initially mention the co-ordinated element.. hanace thought it was UK only Link to comment Share on other sites More sharing options...
wrongmove Posted October 8, 2008 Report Share Posted October 8, 2008 So a rate cut causes POG to drop by $20?? man, this is just wierd. I don't think that most buyers of gold are that worried about inflation, much more worried about instability. Any tangible asset will hedge inflation to some extent, but most assets are going down rather quickly. So I would expect "good" news for the general economy to lift shares and commodities and dent gold, but only for the 10 minutes it takes to work out that the news isn't really that significant. I have to say, I thought that gold would either rocket or plummit this week. So far it has done neither - it is actually working as a safe haven, and very ironically, a hedge against a strong dollar! Still, you takes your gains when you can get them, I'm sure. Link to comment Share on other sites More sharing options...
romans holiday Posted October 8, 2008 Report Share Posted October 8, 2008 I have to say, I thought that gold would either rocket or plummit this week. So far it has done neither - it is actually working as a safe haven, and very ironically, a hedge against a strong dollar! Still, you takes your gains when you can get them, I'm sure. POG will hold its own in this deflationary environment and maybe even rise a little.... IMO it will only rocket when the weaker currencies get into trouble in some currency crisis. This crisis IMO will also be the catalyst whereby building inflationary pressures will have a sudden and massive impact on all prices as they are released into the wider economy. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted October 8, 2008 Report Share Posted October 8, 2008 I don't think that most buyers of gold are that worried about inflation, much more worried about instability. Any tangible asset will hedge inflation to some extent, but most assets are going down rather quickly. So I would expect "good" news for the general economy to lift shares and commodities and dent gold, but only for the 10 minutes it takes to work out that the news isn't really that significant. I have to say, I thought that gold would either rocket or plummit this week. So far it has done neither - it is actually working as a safe haven, and very ironically, a hedge against a strong dollar! Still, you takes your gains when you can get them, I'm sure. FWIW, I mostly agree, my take on the pog at the moment is that the coordinated rate cuts will restore some confidence into the markets and gold will have lost some of it's recent shine. However, this just makes the case for buying gold stronger in the long-term, as the threat of inflation will be very real once the balance swings from flight to cash ($) back into equities, commodities etc. Interesting times nevertheless. Link to comment Share on other sites More sharing options...
dst Posted October 8, 2008 Report Share Posted October 8, 2008 OK, own up, who on here is it? http://news.bbc.co.uk/1/hi/uk/7657178.stm Banking on gold Four years ago, fearful of a property crash, David and Maureen Somers sold their house and bought gold. Link to comment Share on other sites More sharing options...
romans holiday Posted October 8, 2008 Report Share Posted October 8, 2008 OK, own up, who on here is it? http://news.bbc.co.uk/1/hi/uk/7657178.stm Not me! I will sell gold to buy a house. Link to comment Share on other sites More sharing options...
THEBIGMAN Posted October 8, 2008 Report Share Posted October 8, 2008 OK, own up, who on here is it? http://news.bbc.co.uk/1/hi/uk/7657178.stm The message is getting out http://news.bbc.co.uk/1/hi/business/7450751.stm Link to comment Share on other sites More sharing options...
Bobsta Posted October 8, 2008 Report Share Posted October 8, 2008 GBP up against USD also.. this is counter intuative The Market had a 1% cut priced in and didn't get it? - or - (more likely IMO) The cut makes the UK more investable (apparently) so folks buy GBP (or stop selling it quite so fast) to invest in UK stocks. Link to comment Share on other sites More sharing options...
romans holiday Posted October 8, 2008 Report Share Posted October 8, 2008 We often saw POG move higher against a weak US dollar. Now we see gold moving up against an incredibly strong dollar. This is huge and I think the market is here recognising finally that gold is the king of currencies. Link to comment Share on other sites More sharing options...
gwizzie Posted October 8, 2008 Report Share Posted October 8, 2008 Really want spot to push through 926 today and then..... crap...hang on lads!! Link to comment Share on other sites More sharing options...
moroboshi Posted October 8, 2008 Report Share Posted October 8, 2008 OK, own up, who on here is it? http://news.bbc.co.uk/1/hi/uk/7657178.stm Not me, but it's now the most emailed story and second most read Link to comment Share on other sites More sharing options...
romans holiday Posted October 8, 2008 Report Share Posted October 8, 2008 DOW sliding again.... 9345. Link to comment Share on other sites More sharing options...
ziknik Posted October 8, 2008 Report Share Posted October 8, 2008 Not me, but it's now the most emailed story and second most read And it’s got links to ATS Bullion, BullionVault and Bairds websites on the right-hand side. http://news.bbc.co.uk/1/hi/magazine/7657178.stm Link to comment Share on other sites More sharing options...
moroboshi Posted October 8, 2008 Report Share Posted October 8, 2008 And it’s got links to ATS Bullion, BullionVault and Bairds websites on the right-hand side. http://news.bbc.co.uk/1/hi/magazine/7657178.stm Anyone monitoring the number of users on BV? Would be interesting to see numbers over the next week. Link to comment Share on other sites More sharing options...
ologhai Posted October 8, 2008 Report Share Posted October 8, 2008 try AUD!! GOOD GRIEF! You're not kidding... I wonder how much, if anything, this has to do with (as I'm sure I heard the other day) there is no compensation scheme to recompense savers in Australia should a bank go bump? Link to comment Share on other sites More sharing options...
alexreeve Posted October 8, 2008 Report Share Posted October 8, 2008 OK, own up, who on here is it? http://news.bbc.co.uk/1/hi/uk/7657178.stm My favourite line: I wouldn't want to be in a bombed-out economy without it. Link to comment Share on other sites More sharing options...
bitbigt Posted October 8, 2008 Report Share Posted October 8, 2008 Momentum traders will now be getting on board this train, now that the bull trend has reasserted. That will be very positive for PoG Link to comment Share on other sites More sharing options...
ziknik Posted October 8, 2008 Report Share Posted October 8, 2008 Anyone monitoring the number of users on BV? Would be interesting to see numbers over the next week. A trend of Google searches for ‘Bullion Vault’. I have seen some better info posted from Google, but I am not sure how to get it. Link to comment Share on other sites More sharing options...
electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 I am noticing that we are nearing the upper bound of the ~7month downtrend on the 1year USD chart for gold. I think we need to break out upwards positively from this channel. If we don't manage it with a climate like this, I don't know how we do it! Fingers crossed.... Link to comment Share on other sites More sharing options...
Dispassion Posted October 8, 2008 Report Share Posted October 8, 2008 yes, it looks positive, i will be looking for a position between 845 and 860 area tomorrow, they should take down today's highs. We're at the top of your 'channel 2' now Ker, your model's worked very well so far are you expecting that this resistance will be strong? Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted October 8, 2008 Report Share Posted October 8, 2008 We're at the top of your 'channel 2' now Ker, your model's worked very well so far are you expecting that this resistance will be strong? In the temporary absence of Ker, maybe this will interest you: http://www.nasdaq.com/aspxcontent/NewsStor...nternational.na Technical-chart related buying in December gold was triggered as the metal moved through $898.80, a dime above the Oct. 1 high, Young said. Additionally, gold is back above the 200-day moving average that currently passes near the $909 area, Nedoss said. "A close above that is very, very positive," he said. The next key chart level to watch, both men said, is $932, the peak from Sept. 29. "I think there would be a ton of stops above $932, basis the December," Nedoss said. He put the next level above this around $940. Link to comment Share on other sites More sharing options...
simonc Posted October 8, 2008 Report Share Posted October 8, 2008 POG to crash. Worth just $500 by end of the year: http://www.cnbc.com//id/15840232?video=880574352&play=1 Link to comment Share on other sites More sharing options...
electroweak Posted October 8, 2008 Report Share Posted October 8, 2008 gold buffalo question... I got my first one delivered today; can anyone tell me, is the face /obverse upside down? I seem to have one where the indian's head when flipped by holding at 12 and 6-oclock gives an upside-down buffalo. Did i just become a numismatist!? Could it be fake!!!!! ??? Link to comment Share on other sites More sharing options...
alexreeve Posted October 8, 2008 Report Share Posted October 8, 2008 POG to crash. Worth just $500 by end of the year: http://www.cnbc.com//id/15840232?video=880574352&play=1 Is that the wrong link? On the video the interviewee expects Gold prices to double in short order. Even the precis says: "He tells CNBC's Maura Fogarty & Rebecca Meehan that if the paper market collapses, gold prices may double very quickly." Link to comment Share on other sites More sharing options...
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