Where Is Gold Going In This Market

[cloudhopper]

As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold (XAU) and silver (XAG), will go into effect on Friday, July 15, 2011.

http://en.wikipedia....exchange_market

the screws are tightened. slowly but surely.

That's what it says but I don't believe it.

[cloudhopper]

I knew it was bullshit

http://blogs.marketwatch.com/thetell/2011/06/20/dodd-frank-rules-outlaw-retail-gold-silver-trading/

Well I think I know anyway...

[Lost in LOS]

i just brought a lot more gold and some silver last Friday. Street economics. I dont understand half of what is said here, beyond my education level, but its pretty obvious to me that the world is in deep do-do, and the gold and silver is looking pretty good right now. Imaginary, Maybe, but I have made a small fortune in the last two years, and I think its going to keep on going up till the world economies are fixed. Something that might not happen in my lifetime

I remember when my buddy Naam didn't like gold, and now he does [or at least the wife does]. That says a lot to me since he was very good with currency trading but now buys gold also

Edited June 22, 2011 by Lost in LOS

[edgarfriendly]

Real gold n silver or the electric stuff?

i would like to get hold of some silver locally but don't want them grains/shot.

im half-inclined to jump back into gold and say fuggit, but obviously thats not my favourite way of playing.

as for 'mrs anybody' loving gold, ive yet to meet a female who doesnt 'love' stuff they can spend/exchange for spendables...or shoes/bags/glitter.

genius.

ef

[flying]

I have every intention of selling gold someday

i will not tell Mrs Naam as that would hurt your reputation.

you can tell my wise gold stacking buddy not to worry as I see no end in sight to the

financial irresponsibility of the US dollar

[Naam]

i just brought a lot more gold and some silver last Friday. Street economics. I dont understand half of what is said here, beyond my education level, but its pretty obvious to me that the world is in deep do-do, and the gold and silver is looking pretty good right now. Imaginary, Maybe, but I have made a small fortune in the last two years, and I think its going to keep on going up till the world economies are fixed. Something that might not happen in my lifetime

I remember when my buddy Naam didn't like gold, and now he does [or at least the wife does]. That says a lot to me since he was very good with currency trading but now buys gold also

i still don't like gold (or any other precious metals) because its movements are beyond my capability to understand and its appreciation can neither be estimated nor calculated. what i do like is the gold which was produced based on my designs and which Mrs Naam wear around her neck, wrists or on her fingers.

in the meantime my wife has cooled down considerably, is happy that whatever physical gold she bought has increased in value but accepted my reasoning that the percentage of gold we own is more than satisfactory.

[churchill]

Front page .. !

3 weeks later ..........

'Gold and silver’s increasing safe haven status is seen in news from the Financial Times (front page) and from Bloomberg today (see news).

The Financial Times reports that “Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks.”

Sales of gold coins have soared as savers seek a safer and fungible source of value, says the FT.

“When the global financial crisis started, our sales of coins to investors overtook bullion for the first time,” said Harry Krinakis, at Sepheriades, a Greek precious metals trader. “Now the sales ratio has reached five to one.”

Tomas, a computer technician, has exchanged his euro savings for gold coins: “I keep them at home just like my grandmother did in the second world war.”

http://www.zerohedge.com/article/greeks-turn-savings-gold-and-perth-mint-silver-coin-sales-surge-record-safe-haven-demand

[midas]

Front page .. !

3 weeks later ..........

'Gold and silver’s increasing safe haven status is seen in news from the Financial Times (front page) and from Bloomberg today (see news).

The Financial Times reports that “Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks.”

Sales of gold coins have soared as savers seek a safer and fungible source of value, says the FT.

“When the global financial crisis started, our sales of coins to investors overtook bullion for the first time,” said Harry Krinakis, at Sepheriades, a Greek precious metals trader. “Now the sales ratio has reached five to one.”

Tomas, a computer technician, has exchanged his euro savings for gold coins: “I keep them at home just like my grandmother did in the second world war.”

http://www.zerohedge.com/article/greeks-turn-savings-gold-and-perth-mint-silver-coin-sales-surge-record-safe-haven-demand

It surprises me that this hasn't happened on a bigger scale already? Does Greece have any form of bank deposit guarantee for those who are brave enough to keep their money in a bank account through all this?

[RedFxTrade]

Front page .. !

3 weeks later ..........

'Gold and silver's increasing safe haven status is seen in news from the Financial Times (front page) and from Bloomberg today (see news).

The Financial Times reports that "Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks."

Sales of gold coins have soared as savers seek a safer and fungible source of value, says the FT.

"When the global financial crisis started, our sales of coins to investors overtook bullion for the first time," said Harry Krinakis, at Sepheriades, a Greek precious metals trader. "Now the sales ratio has reached five to one."

Tomas, a computer technician, has exchanged his euro savings for gold coins: "I keep them at home just like my grandmother did in the second world war."

http://www.zerohedge...fe-haven-demand

It surprises me that this hasn't happened on a bigger scale already? Does Greece have any form of bank deposit guarantee for those who are brave enough to keep their money in a bank account through all this?

Yes...I think the insurance deposit scheme at the moment is called the European Central Bank

[flying]

Looks like

The casino that is controlled by the FED & Bankers

today stages it's show's 1st act to induce QE3

Edited June 23, 2011 by flying

[cloudhopper]

i sold 20 baht (10oz) last week based on an upcoming 'downward correction' mentioned here.

ef

still waiting... i guess i'll be your idiot for today.

There you go ef

[flying]

Jim Sinclair

Dear Extended Family,

Today’s markets are exactly what you would expect as we enter illustration number three of the Skier.

Economic statistics are taking a hard fall.

Without QE who will buy US treasury issues?

Without QE where is the basis of world equity markets?

Without QE what do you think the chart of unemployment will look like?

Without QE how do you think the camouflage of the insolvent balance sheets of the financial industry will fare?

Without QE where is mortgage money coming from?

Without QE what do you think home prices will do?

Without QE how will the present Administration and the legislative be re-elected?

Without QE how will the States of the United States of America finance themselves?

Be prepared for a reversal of the decision to curtail QE at the end of June.

Be prepared for a snap back at a greater percentage of QE with a different name.

Be prepared for covert QE between July 1st and late August when stimulation goes wild.

Be prepared for gold to take out $1650 on the upside as magnets at $12,544 come into play.

Be prepared for the Inflationary Depression of all time.

Stand firm on your gold positions.

Stand firm on your discipline of NO margin.

Stand strong in your Swiss Franc and Canadian dollar positions.

Survive the MOPE and market manipulation that is so obvious today.

Respectfully,

Jim

[churchill]

Jim Sinclair

Dear Extended Family,

Today’s markets are exactly what you would expect as we enter illustration number three of the Skier.

Economic statistics are taking a hard fall.

Without QE who will buy US treasury issues?

Without QE where is the basis of world equity markets?

Without QE what do you think the chart of unemployment will look like?

Without QE how do you think the camouflage of the insolvent balance sheets of the financial industry will fare?

Without QE where is mortgage money coming from?

Without QE what do you think home prices will do?

Without QE how will the present Administration and the legislative be re-elected?

Without QE how will the States of the United States of America finance themselves?

Be prepared for a reversal of the decision to curtail QE at the end of June.

Be prepared for a snap back at a greater percentage of QE with a different name.

Be prepared for covert QE between July 1st and late August when stimulation goes wild.

Be prepared for gold to take out $1650 on the upside as magnets at $12,544 come into play.

Be prepared for the Inflationary Depression of all time.

Stand firm on your gold positions.

Stand firm on your discipline of NO margin.

Stand strong in your Swiss Franc and Canadian dollar positions.

Survive the MOPE and market manipulation that is so obvious today.

Respectfully,

Jim

I thought the gold price spike before Bernanke was strange (ready for a take down)? - Everyone knew the gist of what he was going to say - No QE at this time for sure - So there was no reason for the rise ..

but the miners ( for once ) performed OK (% wise) yesterday (edit.. and up again strong today 3%+in the UK ) - a good sign - so perhaps some more downside but the trend still up ...

The releasing of extra oil into the market seems a hint of desperation - Europe and the US have to face up to the realities of future funding/pensions/health ..etc - The PM market will stay strong until governments come up with new and credible solutions ( and not kick the can for a few years when it will be somebody else's problem )

and neither the EU & US governments or borrowers can afford a spike in interest rates ... so continued low rates .. declining USD and EURO- and rising PM's /

Edited June 24, 2011 by churchill

[lannarebirth]

I keep thinking that Bernanke needs a market downdraft to engineer "a flight to quality" so he can unload hyis inventory from the l;ast round of QE. Then he can do it again.

[churchill]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadaily.com.cn/china/2011-06/24/content_12764412.htm

[cloudhopper]

Jim Sinclair

Dear Extended Family,

Today's markets are exactly what you would expect as we enter illustration number three of the Skier.

Economic statistics are taking a hard fall.

Without QE who will buy US treasury issues?

Without QE where is the basis of world equity markets?

Without QE what do you think the chart of unemployment will look like?

Without QE how do you think the camouflage of the insolvent balance sheets of the financial industry will fare?

Without QE where is mortgage money coming from?

Without QE what do you think home prices will do?

Without QE how will the present Administration and the legislative be re-elected?

Without QE how will the States of the United States of America finance themselves?

Be prepared for a reversal of the decision to curtail QE at the end of June.

Be prepared for a snap back at a greater percentage of QE with a different name.

Be prepared for covert QE between July 1st and late August when stimulation goes wild.

Be prepared for gold to take out $1650 on the upside as magnets at $12,544 come into play.

Be prepared for the Inflationary Depression of all time.

Stand firm on your gold positions.

Stand firm on your discipline of NO margin.

Stand strong in your Swiss Franc and Canadian dollar positions.

Survive the MOPE and market manipulation that is so obvious today.

Respectfully,

Jim

Stimulation gone wild! The mathematical certainty of Alf's numbers! From the man who thinks "dark forces" are always to blame when $12,544 magnets fail to materialize when predicted.

What has already happened to unemployment and home prices in the face of QE 1, lite, 2 etc. Jim?

What if it's the deflationary Depression of all time as collapsing credit eats and shits out covert, camouflaged and every other kind of QE they try Jim?

[Naam]

In the end, the Lord sent a plague on his people,

to punish them for the sin of worshipping Gold

[lannarebirth]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadail...nt_12764412.htm

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

[cloudhopper]

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

Well I'd be pissed. I like my gold. I think it is and will continue to be a liquid and globally recognized store of wealth useful as a currency. That's why the price can double and treble and quadruple, or halve and quarter, it has no importance to me because it's rice purchasing power will always stay about the same.

[flying]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadail...nt_12764412.htm

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

Actually the attraction of gold is that in fact it does not disappear.....Nor does it mate & multiply like Fiat presses gone wild.

There in lies its importance IMO

[flying]

Well I'd be pissed. I like my gold. I think it is and will continue to be a liquid and globally recognized store of wealth useful as a currency. That's why the price can double and treble and quadruple, or halve and quarter, it has no importance to me because it's rice purchasing power will always stay about the same.

There in lies the truth...It has been said & brushed off many times but it is simple to look back & see it is true.

Pick anything....fuel,housing etc & see the price is quite stable in gold terms.

Silver.....not so much & is why I may liquidate what I have left since it is in Silver Eagles they fetch

a nice premium. Having watched the way it was manipulated a few months ago with margin increases. Then again it is no secret the

COMEX is running dry...Yesterday a withdrawal of 1,431,275 oz's So.......who knows eh?

Edited June 25, 2011 by flying

[churchill]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadail...nt_12764412.htm

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

Reporting facts of increasing demand is not trying to talk it up - You are very welcome to post reasons why the price is about to drop ... we all want to sell near the top and before the peak ..

I am surprised that you being a chartist and a trader that wants to make money ? have not spotted the trend and made packets on this trade ... check the 144 day ma

Don't they say emotions and trades don't mix ?

[badge]

Gold vs commods is rather irrelevant as theyre freely manipulated by the naughty powers that be, are they not?

Gold vs money supply or CPI would perhaps be a better gauge (certainly as its purportedly an inflation hedge), and its currently overvalued against CPI to the tune of roughly 2000% if we go back to WW1.

Over the past 200 years it has averaged $300-$600 per ounce (2010 dollars), and having currently turned lower from the previous, adjusted all time high in 1980, is therefore overvalued by 300% - 500%, see 2nd graph (from June 2010).

Edited June 25, 2011 by badge

[midas]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadail...nt_12764412.htm

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

Reporting facts of increasing demand is not trying to talk it up - You are very welcome to post reasons why the price is about to drop ... we all want to sell near the top and before the peak ..

I am surprised that you being a chartist and a trader that wants to make money ? have not spotted the trend and made packets on this trade ... check the 144 day ma

Don't they say emotions and trades don't mix ?

Given the instability and uncertainty around the world, do you not see a possibility that under some circumstances food and water could be considerably more attractive than gold?

[12DrinkMore]

Given the instability and uncertainty around the world, do you not see a possibility that under some circumstances food and water could be considerably more attractive than gold?

And under almost every circumstance there will be some spiv ready to supply food, water, cigs, alcohol and weapons for gold.

[12DrinkMore]

Gold vs money supply or CPI would perhaps be a better gauge (certainly as its purportedly an inflation hedge), and its currently overvalued against CPI to the tune of roughly 2000% if we go back to WW1.

Over the past 200 years it has averaged $300-$600 per ounce (2010 dollars), and having currently turned lower from the previous, adjusted all time high in 1980, is therefore overvalued by 300% - 500%, see 2nd graph (from June 2010).

This time its definitely different.

[lannarebirth]

With Naam's wife calming down her gold fever ...

I see a competition between India and China 'trying....' to take up the slack ! .....

'Gold's luster is continuing to attract rising domestic demand and China will continue to "outperform" other countries in private consumption of the precious metal, with sales growth remaining above 20 percent over the next two years, an industry expert said.'

'The amount individual buyers purchase as an investment is expected to surge two-fold annually, Zhang Bingnan, secretary-general of the China Gold Association, said.

And the government's gold reserves are "far from enough", and should be increased to fend off global financial risks, he said.'

http://www.chinadail...nt_12764412.htm

The fact is Sir Churchill, if every gram of Gold on the face of the Earth disappeared tomorrow it wouldn't make a dam_n bit of difference in the lives of almost everybody. Talk it up if you like but know it is good for practically nothing. That's why the price can double and treble and quadruple, it has no importance. Run up Rice similarly and see what happens.

Reporting facts of increasing demand is not trying to talk it up - You are very welcome to post reasons why the price is about to drop ... we all want to sell near the top and before the peak ..

I am surprised that you being a chartist and a trader that wants to make money ? have not spotted the trend and made packets on this trade ... check the 144 day ma

Don't they say emotions and trades don't mix ?

I don't trade Gold, I trade S&P 500 futures.

[Naam]

addressing LRB

Reporting facts of increasing demand is not trying to talk it up - You are very welcome to post reasons why the price is about to drop ... we all want to sell near the top and before the peak ..

I am surprised that you being a chartist and a trader that wants to make money ? have not spotted the trend and made packets on this trade ... check the 144 day ma

Don't they say emotions and trades don't mix ?

you are not reporting facts Churchill. you are reporting hearsay. and nearly all contents of your reporting is from parties which have vested interests.

if only a fraction of these "facts" were true the price of gold would be already skyhigh today. i have not counted the number of your "increasing demand" postings during the last six but i'm sure they exceed two dozen (perhaps more). in this period gold appreciated (denominated in US-Dollars) approximately 7%, whereas USD lost between 2 and 6% vs. some major currencies.

in my [not so] humble opinion the net price increase proves my theory that the "increasing demand" opinions are not facts but merely farts.

[flying]

Gold vs money supply or CPI would perhaps be a better gauge

There is nothing that should be compared to the CP-Lie...Nothing

[cloudhopper]

I don't trade Gold, I trade S&P 500 futures.

Ahoy there OT a bit and I don't trade anything but what do you think about that S&P value in the longer term?

I.e. the term all those pension funds and insurance companies are depending on (along with their mortgage backed securities, sovereign bonds and other assets).