Where Is Gold Going In This Market

[cloudhopper]

You described that very well & much more eloquently than my description as a "freak flag play"

[Naam]

AU/AG ratio 33.86 !

[flying]

You described that very well & much more eloquently than my description as a "freak flag play"

Crosby Still & Nash...Almost cut my hair

Good Catch there CH

AU/AG ratio 33.86 !

So what do you think?

16/1 a possibility? ....

[flying]

Jim Rogers on chances of $100+ Silver in 2011

Edited April 20, 2011 by flying

[dananderson]

When will gold find support above $1500? One anaylsts view. http://www.thestreet.com/video/11086981/trading-chinese-internet-stocks-and-ipos.html?puc=_booyah_html_pla1&cm_ven=EMAIL_booyah_html&s=1#910928505001

[flying]

When will gold find support above $1500?

Support will be after $1500 is breached & has bounced a few time or goes sideways a bit.

But if you mean break resistance at $1500..... It has broken through & is at $1501.90 tonight as I type this

Edited April 20, 2011 by flying

[Naam]

You described that very well & much more eloquently than my description as a "freak flag play"

Crosby Still & Nash...Almost cut my hair

Good Catch there CH

AU/AG ratio 33.86 !

So what do you think?

16/1 a possibility? ....

a year ago i would have called 16/1 a wet dream. but now...

[churchill]

Both have been held back - silver is just catching up - PM stocks next -

Gold looks as if it , like silver - it's curve is about to steepen

[churchill]

Ranting Andy: Occam’s Razor and the Precious Metal Market

http://babybulltwits.wordpress.com/2011/04/18/ranting-andy-occams-razor-and-the-precious-metal-market/#more-6566

Edited April 21, 2011 by churchill

[flying]

Both Gold & Silver have been chugging along again today

Gold at $1508 & Silver looking at $46/oz

It is as I expected for gold but again still a bit amazed at Silver.

Although I always felt Silver would do well I thought it would be a bit

later after gold had risen even higher.

What ever the reason seeing the G/S ration drop under 33 now

[ExpatJ]

I have just put a chunk of money into KBANK Gold Fund (KASGOLD:TB on bloomberg)- anyone else in this fund?

[dananderson]

Why mining stocks lag. Those of you that hold AG/AU and others will want to read this piece from the Wall Streat Cheat Sheet. http://finance.yahoo.com/news/Why-Gold-Stocks-Struggling-wscheats-3808083048.html?x=0&.v=1

[Taggart]

Did you ever feel a few years after, say in the late 1990's that your Gold Eagle coins may have been a bad investment?

No because I don't view gold as an investment at all. For me it is insurance against a corrupt government destroying the purchasing power of the USD that my income is denominated in. So I view all the money I have ever spent on gold as a premium payment for a policy that, like other insurance policies, I never hope to actually need. Thus I never plan to sell my gold regardless of price unless it becomes the only remaining store of liquid wealth I have, which will be the case in the (increasingly likely IMO) event of a global currency crisis.

Aye, but weren't Americans told in the early 1980's to find a cave and buy a shotgun to protect their gold. Then around the same time, the Japanese were so financially powerful, that they would be be over there buying up all the valuable assets in the U.S. I've been around long enough to know we've all been on this same road before, and nothing came to pass.

[churchill]

[cloudhopper]

Aye, but weren't Americans told in the early 1980's to find a cave and buy a shotgun to protect their gold. Then around the same time, the Japanese were so financially powerful, that they would be be over there buying up all the valuable assets in the U.S. I've been around long enough to know we've all been on this same road before, and nothing came to pass.

No, Americans were not told to do that.

Doesn't sound like you were around in the 30's then. Happy investing.

[dananderson]

Enjoyed the video Churchill/ Thanks for the link

[Taggart]

Aye, but weren't Americans told in the early 1980's to find a cave and buy a shotgun to protect their gold. Then around the same time, the Japanese were so financially powerful, that they would be be over there buying up all the valuable assets in the U.S. I've been around long enough to know we've all been on this same road before, and nothing came to pass.

No, Americans were not told to do that.

Doesn't sound like you were around in the 30's then. Happy investing.

If you don't remember that, then I guess you weren't investing in the early 80's then. I was. Good luck.

[p_brownstone]

I have just put a chunk of money into KBANK Gold Fund (KASGOLD:TB on bloomberg)- anyone else in this fund?

I know I will be jumped on by the more “serious” Investors in this Forum but I would under no circumstances "Invest" in what is essentially simply paper.

If you look at the figures, the amount of “Gold” being traded in these Funds is far more than the amount of Gold that has ever been mined - worldwide.

When, (if?), the world’s economies implode and you need to redeem your paper “Certificates” for whatever is needed to survive, you will find that there is no actual metal to back up the paper – well, there may be but dozens of other Investors are under the impression that they own it too!

Physical ownership of assets which can be reasonably quickly liquidated is the only way to Invest at the moment.

Patrick

[cloudhopper]

The Chicom announcement they are selling 2/3 of their USTs seems to have given the inedible metal a boost.

But - don't they have to sell those for...USDs???

[Naam]

...I would under no circumstances "Invest" in what is essentially simply paper. Physical ownership of assets which can be reasonably quickly liquidated is the only way to Invest at the moment.

Patrick

you mean people with high net worth should use wheelbarrows or heavy equipment in case they want to liquidate their precious metal holdings?

[Naam]

The Chicom announcement they are selling 2/3 of their USTs seems to have given the inedible metal a boost.

But - don't they have to sell those for...USDs???

there was and there will never be such an announcement. besides, if the "Chicoms" decide to buy the inedible metal offshore it usually takes Dollars.

[flying]

AG & AU jumping at the open of Euro/Asia markets today

[cloudhopper]

The Chicom announcement they are selling 2/3 of their USTs seems to have given the inedible metal a boost.

But - don't they have to sell those for...USDs???

there was and there will never be such an announcement. besides, if the "Chicoms" decide to buy the inedible metal offshore it usually takes Dollars.

Yeah I should have said proposal not announcement. I bet they're turning their USDs into gold as fast and as surreptitiously as they can without spiking the price...

[Naam]

AG & AU jumping at the open of Euro/Asia markets today

precious metals jumped already before the opening. don't forget that CME Globex trading starts around the time when you are starting to digest your sunday brunch.

31.62 looks good, eh?

[Naam]

Yeah I should have said proposal not announcement. I bet they're turning their USDs into gold as fast and as surreptitiously as they can without spiking the price...

being the biggest gold producer "Chicom" central bank can satisfy its gold requirements domestically by paying in CNY. neither the USD nor the gold reserves show any use of USD for offshore purchases.

[flying]

31.62 looks good, eh?

I have blinked more than once

[Naam]

31.62 looks good, eh?

I have blinked more than once

CHEERS!

[churchill]

Silver and Gold look hot this am -

This may be helping /

China May Start New Sovereign Funds to Invest in Oil, Gold: Reports

http://www.cnbc.com/id/42743681

[flying]

Silver and Gold look hot this am -

This may be helping /

China May Start New Sovereign Funds to Invest in Oil, Gold: Reports

http://www.cnbc.com/id/42743681

Could be but Silver is literally on fire & up 4.72% just today

Gold up 0.76%

I keep watching the ratio but dont know why....When I look at gains these past few years

Silver has it all over gold

I always update my spread sheets on Fridays & this past Friday showed

80% increase total for gold since I started in Oct 08 but Silver started at the same time is up 285%

[churchill]

From http://traderdannorcini.blogspot.com/2011/04/silver-reaches-within-20-cents-of-50.html#comments

Silver reaches within 20 cents of $50

Silver is on fire in Asian trading this evening moving to a session high of $49.82 after which is rapidly dropped a full $1.00 in price before bouncing back over $49 again. It is extremely volatile right now and I mean "VOLATILE". The price is swinging all over the place within mere seconds.

Its strength is helping to pull Gold higher as well which has gone on to hit a new all time high at $1518.40 as I write this.

What is remarkable about this is that the Dollar is actually higher this evening in Asian trade.

http://4.bp.blogspot.com/-TXBUjaoIHqM/TbUFU-rInlI/AAAAAAAAAXQ/g5H6rb5855E/s1600/snapshot-647.png