Where Is Gold Going In This Market

[old wanderer]

when they again raise the debt ceiling PM's will take a beating.<br />Albeit temporary because after all what has fixed?<br />

Why is that?

Gold immediately started a small sell off -$14.2 as I type.

Gold moved in parallel with Silver. @ 1403 Hrs on Comax somebody sold 10 Billion dollars worth of silver in one minute. This caused a massive drop in the price naturally. But it is all smoke and mirrors. It was 10X the yearly output of all the silver mines in the USA, so it was not a hedge sell. As usually the banksters are again trying to manipulate the market.

Friday the China gold exchange will open, and I do expect some fireworks.

For me, I just purchased some more on the dip.

[churchill]

when they again raise the debt ceiling PM's will take a beating.<br />Albeit temporary because after all what has fixed?<br />

Why is that?

As I said.....

Note today the ZObama has spoken

Claiming the gang of 6 is making progress on *possible* 4 trillion in cuts over the next 10 years. Inferring raising of the debt ceiling agreement near.

Gold immediately started a small sell off -$14.2 as I type.

But IMO temporary as I said.... 4T in cuts over 10 years?

What will they ask to raise the ceiling by? 2-3-4 Trillion?

What of the interest on the balance over 10 years?

What of the continued stupidity of spending on foreign invasions errr war on terror?

What of UE

What of housing slump etc etc etc

Raising the debt ceiling and so again kicking the can as they are doing in Europe can only be bullish ...Some others agree ..

Debt ceiling raise is bullish for gold

Peter Schiff thinks a deal on the US debt limit would be bullish for gold...

http://www.wallstreetwatchers.com/analysis/40/Debt-ceiling-raise-is-bullish-for-gold

[midas]

Naam do you think this guy intends to use bitcoins for his everyday purchases ?

A Malaysian Businessman Just Spent $4.8 Billion On A Yacht Made Of Solid Gold

Read more: http://www.businessinsider.com/most-expensive-yacht-2011-7#ixzz1SeyQeC1j

[12DrinkMore]

when they again raise the debt ceiling PM's will take a beating.<br />Albeit temporary because after all what has fixed?<br />

Why is that?

Gold immediately started a small sell off -$14.2 as I type.

Gold moved in parallel with Silver. @ 1403 Hrs on Comax somebody sold 10 Billion dollars worth of silver in one minute. This caused a massive drop in the price naturally. But it is all smoke and mirrors. It was 10X the yearly output of all the silver mines in the USA, so it was not a hedge sell. As usually the banksters are again trying to manipulate the market.

Friday the China gold exchange will open, and I do expect some fireworks.

For me, I just purchased some more on the dip.

I found it utterly amazing that all that silver was simply eaten up by somebody, after all there were buyers for USD 10,000,000,000 worth of silver in just a few minutes, the price hardly moved down but is already recovering.

Sounds like a lot of support coming from somewhere.

[Naam]

Naam do you think this guy intends to use bitcoins for his everyday purchases ?

A Malaysian Businessman Just Spent $4.8 Billion On A Yacht Made Of Solid Gold

Read more: http://www.businessinsider.com/most-expensive-yacht-2011-7#ixzz1SeyQeC1j

do you really believe this kind of "solid" shit Midas?

[cloudhopper]

Wow 100 tons to push through the water. That's why mine is wind powered and constructed from recycled aluminum beer cans.

3 opinions from the first page of this thread less than 3 years ago...

<br />Ok - Articles like these are part of the reason I dumped my gold last week.

Platinum/Gold/Silver is on its way down. It's had its run.

What does the chart readers here think is a good buy spot for gold?<br />Is support at or around 650-700? Technically speaking <img src='http://static.thaivisa.com/forum/public/style_emoticons/default/unsure.gif' class='bbc_emoticon' alt='' />

<br />Yes, there should be strong support in the $640-$670 level, once that level falls then a good "buy spot" for gold would be in the upper $300's (wait for about $365-$370 if possible). Then hold on tight to that gold and wait for about ten years and the next great gold run should begin <img src='http://static.thaivisa.com/forum/public/style_emoticons/default/biggrin.gif' class='bbc_emoticon' alt='' /><br />

edit - anyone know why my quote function is now picking up all the />br/> crap?

Edited July 20, 2011 by cloudhopper

[cloudhopper]

Another gold standard sighting

http://globaleconomicanalysis.blogspot.com/2011/07/jim-grant-on-going-forward-with-gold.html

[Naam]

Another gold standard sighting

null and void without Elvis

[cloudhopper]

Jim Grant IS Elvis. Don't be fooled by the bow tie and glasses.

[cloudhopper]

This could be of interest to anyone into ETFs.

http://www.chrismartenson.com/blog/david-morgan-silver-price-manipulation-delivery-default-supply-shortage-risks

[edgarfriendly]

whats the story about china opening a gold exchange today?

or is that not relevant here?

ef

[ExpatJ]

I know the 'experts' recommend holding gold equal to @10% of your portfolio. But what % do people here hold?

, would be interested to know.

I have about 10% of my protfolio in gold right now

[cloudhopper]

60

[12DrinkMore]

Ag + Au about 10%

[churchill]

About 25 % silver 15% gold mostly in mining stocks /

I was equal weight but silver miners have gone up faster since purchase and I have not readjusted and am happy to leave as is for now ..

Edited July 22, 2011 by churchill

[churchill]

As China Enters Silver Market, Dark Days Ahead for COMEX

http://www.minyanville.com/businessmarkets/articles/gold-silver-healthy-pullback-comex-comex/7/21/2011/id/35862#disqus_thread

[churchill]

Silver’s a worthy gold rival

Silver will continue to win investors’ attention along with gold

http://www.marketwatch.com/story/silvers-a-worthy-gold-rival-2011-07-22?reflink=MW_news_stmp

[Naam]

Silver’s a worthy gold rival - Silver will continue to win investors’ attention along with gold

i always envied people who seem to be able coining wise words without any real commitment i'll give it a try:

"i will continue to win my dogs' attention when they are back in an hour and beg for some treats"

"for my dogs shrimps are worthy sausage rivals"

[cloudhopper]

Can anyone explain this "firewall" around Spain and Italy is supposed to work?

http://www.bloomberg.com/news/2011-07-22/gold-falls-for-a-second-day-on-reduced-concern-about-europe-s-debt-crisis.html

[12DrinkMore]

Silver's a worthy gold rival - Silver will continue to win investors' attention along with gold

i always envied people who seem to be able coining wise words without any real commitment i'll give it a try:

"i will continue to win my dogs' attention when they are back in an hour and beg for some treats"

"for my dogs shrimps are worthy sausage rivals"

I believe Churchill just previously mentioned his investment in PM's

"About 25 % silver 15% gold"

That is a considerable chunk of commitment to silver, 25% of assets.

I would also like to be 25% invested in silver, but only if it surges ahead to reach that amount. And then I would very quickly reduce that percentage. I am very wary of the ups and downs of the silver trade.

[12DrinkMore]

Check it out.....

GoldNomics - Cash or Gold Bullion?

Maybe I'll buy a little bit more.....

...and maybe a few million others will too......

...or maybe not...

...but I'm not letting go of my little stash....

...looks nice, feels nice, doesn't burn and I have yet to meet anybody on this planet who fails to recognise it a store of value....

...I can sell it in Isaan, Zurich, Afghanistan, Singapore, Africa, South America....

...for that local paper stuff, which will buy me food....

...hmm, do I want Bernanke Dollars, Merv Pounds or Trichet Euros....

...or more of that yellow stuff (which has just risen USD 5 as I wrote this) ?

...so get in quick...

[cloudhopper]

Must have been a bit of pent-up demand over the weekend...

[flying]

I know most will not think this way but....

It seems the debt ceiling show is gold positive no matter which way it goes.

If an agreement to raise is not made gold goes up as it has been doing these last few days.

If an agreement is reached all the more reason gold should go up as they have once again devalued their fiat.

[Lost in LOS]

I know most will not think this way but....

It seems the debt ceiling show is gold positive no matter which way it goes.

If an agreement to raise is not made gold goes up as it has been doing these last few days.

If an agreement is reached all the more reason gold should go up as they have once again devalued their fiat.

I am in the "gold going up" gang. I have already made a small fortune in both gold and silver and am reinvesting in more. The world is tanking and Obama is making it worse....by spending, spending, spending

[edgarfriendly]

so naam is still the only cat in here thinking knowing gold could move up/down round n round etc?

everyone else is still 'stratosphere bound'??

I'm about 75% gold, 25% cash, 0% silver, still waiting for any advice regarding local silver...

but to be fair, seems that no-one on here REALLY has a clue. except naam obviously, who knows more than the sum of the parts or whatever.

ef

[Naam]

so naam is still the only...

Naam thinks he owns more gold and silver than any individual gold lover who has participated in this thread. but... whether Naam is right or wrong in this respect is completely irrelevant.

for the record, this is what Naam wrote last year:

-i am not trying to draw conclusions, i conclude.

-i don't see pieces of news, i see personal opinions presented out of thin air without any underlying proof...

-...and when i read "central banks of Bangla Desh, Sri Lanka and Mauritius are all buying..."

-...i

for the benefit of those TV-members who are looking for information i consider it my duty to point out flaws, incorrect facts and/or assumptions as well as wishy-washy or outright ridiculous claims.

disclaimer: i (actually "we") hold a substantial amount of physical, paper and 'mining' gold and after the 2009 mother load of investment opportunities (which are gone now) i see fair value in holding a certain percentage of gold because we are facing an uncertain future. but the afore-mentioned does not prevent that i keep on acting as 'advocatus diaboli' in this thread as a counterweight of goldbugs who float on cloud nine.

[Naam]

but to be fair, seems that no-one on here REALLY has a clue. except naam obviously, who knows more than the sum of the parts or whatever.

wrong assumption Friendly Edgar. Naam knows that he knows nothing. Naam adjusts (or tries to adjust) each and every single trading day to an ever changing investment environment trying to make a few additional bucks he spends on dog food or cuban cigars. sometimes he adjusts not once a day, but several times a day. what is most important Naam has no freaking idea how gold, silver, precious metals in general, shares, bonds and currencies will fare in the future.

:jap:

[flying]

Naam thinks he owns more gold and silver than any individual gold lover who has participated in this thread.

I am pretty dang sure you have me beat & then some

[Naam]

Naam thinks he owns more gold and silver than any individual gold lover who has participated in this thread.

I am pretty dang sure you have me beat & then some

Flying,

you are dang sure because you are the only participant here with whom i share since a long time quite some personal information and vice versa. unfortunately now our little secret has been made public and i can't pull your leg(s) as i used to

[churchill]

Naam thinks he owns more gold and silver than any individual gold lover who has participated in this thread.

I am pretty dang sure you have me beat & then some

Flying,

you are dang sure because you are the only participant here with whom i share since a long time quite some personal information and vice versa. unfortunately now our little secret has been made public and i can't pull your leg(s) as i used to

Naam , as the largest holder of Gold and Silver , on this thread ( You think !) do you agree that we are most likely to see steady increases , for Gold anyway , along the current trend lines with blips up and down .

The political situation in the US and Europe puts policy makers in a very difficult situation and the easy option of kicking the can seems likely .. The US credit rating cut seems on the cards and so the USD will probably be falling .....as will the Euro, with their problems ..If the Debt ceiling is raised - The USD may rise initially and gold fall , but I think this will soon reverse with the $ falling , and so gold and markets rising ....

You would not agree , but I think the Gold price , is being managed so that we do not see large spikes up ... but I think this is getting more and more difficult (supply and demand ) and so large spikes could be possible both up and down .

From previous posts , I believe , you have/are invested in the Swiss Franc - Why is this currency perceived as a safe option ? Switzerland's Banks are having problems , which will get worse with the Euro crisis ... Switzerland has very nice Chocolate , Ski Resorts , Swatch , A few good pharma companies - They have been perceived as having large Gold reserves - but they have been reduced ... So with a blowing up of the Euro Crisis - could the Swiss Franc be hit -- then where does all the cash flow .. Canada or ..?

Edited July 28, 2011 by churchill