GOLD

[notanewmember]

<a href="http://arabianmoney.net/2008/11/13/saudi-arabia-buys-35bn-of-gold-in-two-weeks/" target="_blank">Saudi Arabia buys $3.5bn of gold in two weeks</a>

 

Could they be buying on the dip?

[notanewmember]

Gold or Property hmmmm

 

 

 

 

You don't hear Saudis buying up whole streets in the UK or Barratt developments?

 

Despite "now is a good time to buy"

 

Follow the money...

[cgnao]

MUHAHAHAHAHHAHAHAHAHHAHAHAHAHHAHAHAHAHAHAH

 

http://www.foxbusiness.com/story/markets/c...ies/gold-hands/

Monday, November 17, 2008

Why Gold Is Down, But You Can't Get Your Hands on Any

 

At first glance, it appears as if the gold bugs, those bullish on gold, have been stepped on this year. Spot gold is down nearly 30% from its peak of $1033 an ounce set earlier in the year.

 

But a two tiered market has developed where speculators have been badly burned trading gold futures, while some investors holding actual physical gold have managed not only managed to keep their shirts, but have held on to gains for the year.

 

Dealers and analysts are calling it an “upside down” market where physical gold, including coins and bars, are in short supply and far more expensive than the price quoted on New York Mercantile Exchange’s COMEX division.

 

What’s sparking the demand for physical gold? You need to look no further than the financial landscape surrounding investors.

 

“I’ve never seen anything like this,” says Scott A. Travers, author of The Coin Collector’s Survival Manual. “1979 and 1980, the go-go years of Jimmy Carter, gas lines, inflation, interest rates at extraordinary levels had people rushing to tangibles. The frenzied pace for yellow metal today has exceeded those tumultuous levels.”

 

On top of a slowing economy, liquidation by cash hungry hedge funds has gotten much of the blame for the slide in commodities futures prices including the metals group.

 

In recent trading, the active December contract has traded in the area of $740 per ounce, while one-ounce bars of gold have been trading at or near 20% premiums to the front-month futures contract, according to gold dealers. Usually the premium is only about 5%.

 

The same goes for silver, where Comex paper futures are trading at just over $9 an ounce, compared to physical supplies commanding prices above $12 an ounce.

 

There’s an even greater discrepancy involving average uncirculated one-ounce late 19th and early 20th century gold coins known as $20 Liberty and $20 St. Gaudens coins. These particular gold coins, which normally attract a price of about $70 an ounce above spot, are attracting bids of at least $1,100 a piece.

 

Online auction sites have experienced active auctions for one-ounce gold coins. A quick check of eBay (EBAY) yields a variety of examples of gold coins trading at big premiums to the spot price. A 1908 one ounce $20 Double Gold Eagle had attracted more than two dozen bids and price of over $1200.

 

Says Travers, “physical gold does well in times of economic distress, calamity and blood in the streets,” adding that “gold is really a quasi-currency; as people worry about a possible collapse of the banking system. With (Treasury Secretary) Paulson’s change of policy on how to use TARP funds, the collapse of the global banking system is still not off the table.”

 

While the price of gold futures has sunk into the low $700 per ounce range, World Gold Council data show that a pricing floor may be developing, even for beaten-down Comex contracts, due to lower gold production. Through the second half of the year, the Gold Council reported a 4% drop in mining output and a decline in central bank sales.

 

[tinecu]

The 10 year one is interesting.

 

 

The non-US$ version doesn't have the large price bump/fall, and looks much more like a steady trend.

 

 

from: http://www.greenenergyinvestors.com/index....ost&p=77145

 

I like this KGX indicator too...

 

TA of this would make more sense to me.

[grumpy-old-man]

I like this KGX indicator too...

 

TA of this would make more sense to me.

 

nope, that will just confuse things imo. Sometimes you just have to use gut feeling & experience & ditch the charts.

Edited to add - perhaps the gold charts are ok though.

 

 

I heard that Mr Hoover used TA experts a lot in 1929.

 

Here's what he said in Dec 1929:

 

"I am convinced that through these measures we have reestablished confidence."

- Herbert Hoover, December 1929" :lol:

 

just think Paulson & Co

 

my favourite link of all time

 

yes,I know I post it every month or so.

 

ps -this is just me posting my anti-TA stuff (in the current climate), not directed against you tinecu.

[knavel]

Another article like CG's above:

____________________________________

 

GOVERNMENTS CAN'T HANDLE GLOBAL RUN ON GOLD COINS

 

THERE'S a worldwide run on gold coins.

 

Even as the price of the precious metal itself comes under pressure along with commodities like oil and copper, people around the world are demanding so many of the valuable coins that government mints are having difficulty filling orders.

 

A spokesperson for the US Mint tells me that gold coins in this country, for the past month, "are being allocated because of an increased demand."

 

And the price that the government charges coin dealers has recently been increased by as much as 10 percent for a 10-ounce coin.

 

****

 

Bill Murphy, chairman of the Gold Anti-Trust Action Committee, says the price of spot gold is even more perplexing given the demand for coins and the fact that central banks in Europe have stopped selling gold into the open market.

 

"Gold should be moving up," Murphy says. "How could there be such a dichotomy between the historic high premium for coins all over the world and the low Comex price?"

His answer? "Today the public is buying gold like crazy, but the US government and the banks that hold bullion are intentionally keeping the price down."

 

http://www.nypost.com/seven/11182008/busin...n_go_139306.htm

['Green'Investor]

Goldline now have brittanias, krugs and sov's available.

 

 

 

 

[lowrentyieldmakessense(honest!)]

http://www.lewrockwell.com/blog/lewrw/archives/024059.html

 

The Central Banks only talk about gold sales

 

yeah right

 

any experts on body language can tell the liar on this clip

[bitbigt]

Dealers and analysts are calling it an “upside down” market where physical gold, including coins and bars, are in short supply and far more expensive than the price quoted on New York Mercantile Exchange’s COMEX division.

My gold (bars) is held in a Swiss bank

The price I will get if I sell it, with the sale managed by the bank that is holding it for me, matches the spot price.

Can I, and how can I, sell this as the real gold it is, to get the far higher price that real gold is currently trading at?

Thanks in advance for any advice

 

[Justin Thyme]

My gold (bars) is held in a Swiss bank

The price I will get if I sell it, with the sale managed by the bank that is holding it for me, matches the spot price.

Can I, and how can I, sell this as the real gold it is, to get the far higher price that real gold is currently trading at?

Thanks in advance for any advice

 

Get on a plane, rock up to the bank, pick up yer bars, sling 'em on Ebay !

 

[bitbigt]

Get on a plane, rock up to the bank, pick up yer bars, sling 'em on Ebay !

Don't see (m)any 1kg bars on there, only far smaller amounts

[electroweak]

My gold (bars) is held in a Swiss bank

The price I will get if I sell it, with the sale managed by the bank that is holding it for me, matches the spot price.

Can I, and how can I, sell this as the real gold it is, to get the far higher price that real gold is currently trading at?

Thanks in advance for any advice

are you sure they (the swiss bank) are not leasing out your gold without your knowledge?

[bitbigt]

are you sure they (the swiss bank) are not leasing out your gold without your knowledge?

One can never be 100% sure - but I asked about all this and was told it is 100% certainly in their safe, and I could have it delivered the next day if I wished

[warpig]

Does this strike anyone as a little strange or am I missing a piece of the puzzle?

 

Does someone know why Saudi Arabia and Iran buying lots of gold hasn't sent the POG through the roof? Are these effectively private sales?

 

[warpig]

Thought as much, thanks.

 

GATA has informed me that there has been at least one huge buy, outside of CRIMEX, and at a price substantially higher than spot. Therefore the criminally fix-ed prices did not move. Whether that is the Saudi one, I don't know. I think the speculation was that it was China. These things for obvious reasons are shrouded in secrecy. Sellers do not generally want it to be known they are accepting toilet paper money, probably a distressed sale which makes it even worse, buyers ditto have their own reasons and usually want to accumulare at the lowest POG without upsetting the market with massive buy orders. To go OUTSIDE of CRIMEX is huge IMO, and this is v similar on the macro scale to the paper CRIMEX v retail price disconect we are seeing.

 

[grumpy-old-man]

http://www.lewrockwell.com/blog/lewrw/archives/024059.html

 

The Central Banks only talk about gold sales

 

yeah right

 

any experts on body language can tell the liar on this clip

 

every time I watch, they appear to tell some lies on almost every comment they make.

A decent reader of people would not trust people with body language & facial expressions like these guys have.

 

Don't you think it's great that we get to be part of & witness this huge change in world financials/currency/politics ? I do.

[signofthetimes]

Or just be patient, wait for the new gold standard, and collect 35 x $15,000 in the new revaluation!!!

 

That got me thinking....what's to stop the powers that be introducing a tax on doing such a thing at, say 90%, one step away from confiscation ?

[romans holiday]

How is gold revalued?

 

Aren't we just talking about currencies possibly being devalued. And then the new price, however astronomical, is kind of irrelevant due to the currency [which it is priced in] being worth-less.

 

I mean gold will still be worth roughly the same when valued against a real asset such as a fine suit of clothes right?

[warpig]

It's quite possible and has been previously highlighted by Max Keiser.

 

That got me thinking....what's to stop the powers that be introducing a tax on doing such a thing at, say 90%, one step away from confiscation ?

 

[Bobsta]

PUT THE ROCKETS AWAY!!!

[romans holiday]

POG is still strong. Here it is jumping up a little.

 

I wonder how long it will take "devaluation psychology" to set in.

 

I mean, as the bailout nation rolls on, it can only get easier for the mainstream to put 2 and 2 together.

[rgleeson]

 

Invisible barrier at 600Euro.

[dietcolaaddict]

 

Panicked investors send gold demand up 56%

 

http://business.timesonline.co.uk/tol/busi...icle5188684.ece

 

"European investors bought an all-time record 51 tonnes of gold bars and coins as European banks reported huge writedowns, and France became a net investor in gold for the first time since the early 1980s."

[G0ldfinger]

...

"European investors bought an all-time record 51 tonnes of gold bars and coins as European banks reported huge writedowns, and France became a net investor in gold for the first time since the early 1980s."

France again! Like in the 1960s under de Gaulle!

[FWIW]

http://www.ft.com/cms/s/0/7177d3c6-b65f-11...00779fd18c.html

 

Gold’s safe appeal attracts record interest

By Chris Flood

Published: November 19 2008 17:40 | Last updated: November 19 2008 17:40

Sales of gold coins and bars reached their highest levels for more than a decade in the third quarter while gold exchange traded funds saw record inflows as investors sought a safe haven from the crisis in financial markets following the collapse of Lehman Brothers, the US investment bank.