creditcrunch Posted February 20, 2009 Report Share Posted February 20, 2009 Doubt it. If they could've smacked it, they would have done so long before we got so close to a grand, methinks. Having said that, there could be a few sell stops out there given the psychological figure and after what happened last March. I remember my first coin. £490 (including commission) --- I wish I borrowed money to buy more gold back then... seems really cheap now that its £697 ( excluding commission) - but still, i am afraid to borrow to buy at this level, which may seem cheap next year. I have to say a big thank you to being educated in the ways of gold, as I already have made a very nice return - on such a small stash. Link to comment Share on other sites More sharing options...
FWIW Posted February 20, 2009 Report Share Posted February 20, 2009 Doubt it. If they could've smacked it, they would have done so long before we got so close to a grand, methinks. Having said that, there could be a few sell stops out there given the psychological figure and after what happened last March. Never underestimate the enemy. They will be scheming and plotting against our precious. Link to comment Share on other sites More sharing options...
radge Posted February 20, 2009 Report Share Posted February 20, 2009 Looking at the market depth on BV there's still a helluva lot of cash chasing gold. I certainly don't have the cahones to take profit now lest I am unable to climb back on board! Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 Never underestimate the enemy. They will be scheming and plotting against our precious. Think of a smackdown like you would if your favorite beverage goes on sale at the supermarket. Would you panic, run home, and sell any you may have left in the drinks cabinet? Or would you smile, and say thank you very much Mr. Supermarket, I'll have some more please. Most sellers of gold don't know why they bought it in the first place. I know why they did, it was because it was going up, and now it is going down they must sell. Ignorance is bliss. Link to comment Share on other sites More sharing options...
ologhai Posted February 20, 2009 Report Share Posted February 20, 2009 Think of a smackdown like you would if your favorite beverage goes on sale at the supermarket. Would you panic, run home, and sell any you may have left in the drinks cabinet? Or would you smile, and say thank you very much Mr. Supermarket, I'll have some more please. This is nothing to do with whether I think gold is going up or down in the near, medium or long-term, but... that seems a bad analogy to me. Something getting cheaper isn't necessarily a reason for stocking up on it -- take sterling for example... Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 This is nothing to do with whether I think gold is going up or down in the near, medium or long-term, but... that seems a bad analogy to me. Something getting cheaper isn't necessarily a reason for stocking up on it -- take sterling for example... Please note I said favorite, not any drink that was lower in price. The analogy is correct. Link to comment Share on other sites More sharing options...
warpig Posted February 20, 2009 Report Share Posted February 20, 2009 Next push... Link to comment Share on other sites More sharing options...
ologhai Posted February 20, 2009 Report Share Posted February 20, 2009 Please note I said favorite, not any drink that was lower in price. The analogy is correct. I did notice that, but 'favourite' is a subjective criterion -- you buy a favourite drink because it's nice to drink in your opinion. If you decide it's nice, no one can take that away from you, and all other considerations are pretty much irrelevant. I assume you wouldn't want the criterion for buying gold to be just that subjectively you happen to think it looks nice and shiny, though! If you're going to decide to be long on gold today whether the price goes up, down or stays the same, then that means today's price isn't relevant to your decision... so there's not much point in even making reference to the price today... P.S. That doesn't mean that I'm not mesmerised by the POG just now, like most other people on this forum at the moment I would imagine! Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 I did notice that, but 'favourite' is a subjective criterion -- you buy a favourite drink because it's nice to drink in your opinion. If you decide it's nice, no one can take that away from you, and all other considerations are pretty much irrelevant. I assume you wouldn't want the criterion for buying gold to be just that subjectively you happen to think it looks nice and shiny, though! If you're going to decide to be long on gold today whether the price goes up, down or stays the same, then that means today's price isn't relevant to your decision... so there's not much point in even making reference to the price today... P.S. That doesn't mean that I'm not mesmerised by the POG just now, like most other people on this forum at the moment I would imagine! Exactly, favorite is subjective. That is why not everyone buys gold and some people actually short it. One day it may not be my favorite - until I buy on dips and ignore the bubble BS. Link to comment Share on other sites More sharing options...
ologhai Posted February 20, 2009 Report Share Posted February 20, 2009 Exactly, favorite is subjective. That is why not everyone buys gold and some people actually short it. One day it may not be my favorite - until I buy on dips and ignore the bubble BS. Yep, somehow I knew you'd miss the point completely! Never mind. You know what you mean, and I know what I mean, and that will have to do... Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 Yep, somehow I knew you'd miss the point completely! Never mind. You know what you mean, and I know what I mean, and that will have to do... I have no clue what you are talking about or getting at. I'm sorry. Link to comment Share on other sites More sharing options...
The Mad Hatter Posted February 20, 2009 Report Share Posted February 20, 2009 What, no-one mentioned £700 an ounce in NY on BV yet? Link to comment Share on other sites More sharing options...
ologhai Posted February 20, 2009 Report Share Posted February 20, 2009 I have no clue what you are talking about or getting at. I'm sorry. That's okay. Forums aren't always the easiest means of communication, and it just doesn't seem worth messing up this nice thread any further! It's kind of one of those 'over a couple of beers' types of philosophical discussion, but I don't see any beers, so I thought it best to let it go! Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 That's okay. Forums aren't always the easiest means of communication, and it just doesn't seem worth messing up this nice thread any further! It's kind of one of those 'over a couple of beers' types of philosophical discussion, but I don't see any beers, so I thought it best to let it go! Couple of beers would go down a treat right about now, now you mention it. Link to comment Share on other sites More sharing options...
ologhai Posted February 20, 2009 Report Share Posted February 20, 2009 What, no-one mentioned £700 an ounce in NY on BV yet? Looking at BV's chart, it looks like POG in sterling hit £699.50 in the last ten minutes... Now around £699.00... Is this being reported on BBC News 24 etc.? Feels like it ought to be! EDIT: Looks like it just crossed over the £700 line! (And back! ) Link to comment Share on other sites More sharing options...
moroboshi Posted February 20, 2009 Report Share Posted February 20, 2009 What, no-one mentioned £700 an ounce in NY on BV yet? and over $1000 in NY, just edged over that briefly in Zurich... Link to comment Share on other sites More sharing options...
warpig Posted February 20, 2009 Report Share Posted February 20, 2009 I think it must have been a glitch in the chart, it hasn't breached $1K/t oz in any of my charts. and over $1000 in NY, just edged over that briefly in Zurich... Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 20, 2009 Report Share Posted February 20, 2009 What, no-one mentioned £700 an ounce in NY on BV yet? pah! £803 for a krug on goldline. Link to comment Share on other sites More sharing options...
moroboshi Posted February 20, 2009 Report Share Posted February 20, 2009 I think it must have been a glitch in the chart, it hasn't breached $1K/t oz in any of my charts. Ah, I meant the current lowest offer on the BullionVault order board (sorry, should have been clearer ) The offers on the BV NY board always seem a bit higher than London or Zurich. Spot price looks to be retreating a little for now. Link to comment Share on other sites More sharing options...
warpig Posted February 20, 2009 Report Share Posted February 20, 2009 Coin prices are getting confusing. For a Krugerrand: CID - £758.10 WCW - £715.00 GL - £803.75 I don't think WCW keep their website prices up to date, it certainly doesn't reflect the spot price, but CID and GL do as far as I am aware. pah! £803 for a krug on goldline. Link to comment Share on other sites More sharing options...
Justin Thyme Posted February 20, 2009 Report Share Posted February 20, 2009 Well if it's a smackdown, it isn't much of one so far. The gimp anchors on CNBC are on their usual poo-poo-gold crusade. "Aw yeah, this gold play's a crowded trade an' as soon as there's a rally in stocks, I think we can expect a lotta money ta come outta gold". Notwithstanding the fact that they never say that crap about US Treasuries, it's worth noting that ever since Timothy Geithner unveiled his "plan" to save the banks, equities have been down, down, down and, moreover, there doesn't appear to be much in the way of positive newsflow to effect a reversal of that trend. I mean, come on; after two weeks of the market complaining about a lack of clarity in his plan, one would imagine that if Geithner had any idea of the details, he would've made them public by now if only to calm the markets. I could forgive this attitude from the anchors if it was being aimed at day-traders but let's face it, most of the guests they have on CNBC tend to have a long-term bias reflecting the nature of the audience. The fact is that EVERYTHING these anchors say is bullshit. That muppet, Bob Pisani, with his second-rate Mr Byrite double-breasted suits is the worst of the lot. I remember him standing their whining about the fact that no one was getting in to the financial stocks when they were sucking in TARP money. These anchors are nothing but salesmen - Rick Santelli excepted Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 20, 2009 Author Report Share Posted February 20, 2009 Looking at BV's chart, it looks like POG in sterling hit £699.50 in the last ten minutes... Now around £699.00... Is this being reported on BBC News 24 etc.? Feels like it ought to be! ... The BBC will like a round number like £1,000 much better. Link to comment Share on other sites More sharing options...
njpurser Posted February 20, 2009 Report Share Posted February 20, 2009 Couple of beers would go down a treat right about now, now you mention it. I´ll pop to the bar next door-half term in Tenerife- and have a couple for you, dude. What a great week Cigas! I´m kinda sorry to be missing the action. Sure GF and Ziknik will be keeping a close eye on our precios! nuff love, Nick Link to comment Share on other sites More sharing options...
Pluto Posted February 20, 2009 Report Share Posted February 20, 2009 Well if it's a smackdown, it isn't much of one so far. The gimp anchors on CNBC are on their usual poo-poo-gold crusade. "Aw yeah, this gold play's a crowded trade an' as soon as there's a rally in stocks, I think we can expect a lotta money ta come outta gold". Notwithstanding the fact that they never say that crap about US Treasuries, it's worth noting that ever since Timothy Geithner unveiled his "plan" to save the banks, equities have been down, down, down and, moreover, there doesn't appear to be much in the way of positive newsflow to effect a reversal of that trend. I mean, come on; after two weeks of the market complaining about a lack of clarity in his plan, one would imagine that if Geithner had any idea of the details, he would've made them public by now if only to calm the markets. I could forgive this attitude from the anchors if it was being aimed at day-traders but let's face it, most of the guests they have on CNBC tend to have a long-term bias reflecting the nature of the audience. The fact is that EVERYTHING these anchors say is bullshit. That muppet, Bob Pisani, with his second-rate Mr Byrite double-breasted suits is the worst of the lot. I remember him standing their whining about the fact that no one was getting in to the financial stocks when they were sucking in TARP money. These anchors are nothing but salesmen - Rick Santelli excepted Whenever they talk about gold they mention ETFs, which is exactly what they were invented for, to herd the masses away from the metal. According to an article I read all of the gold mined is not enough just for one eft GLD. We're so doomed and stupid.... Link to comment Share on other sites More sharing options...
creditcrunch Posted February 20, 2009 Report Share Posted February 20, 2009 It did hit $1000 today. http://www.bloomberg.com/apps/news?pid=206...&refer=home Link to comment Share on other sites More sharing options...
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