Where Is Gold Going In This Market

[Naam]

Buying gold and silver in liquid ban in France on 1 September 2011

runour has that much more drastic and restrictive legislation has been prepared in Germany.

Rumours, rumours

You generally come down very hard on anybody citing rumours and unsubstantiated information.

So come on then, abide by your own rules and give us the facts.....

fact is that legislation has been prepared. another fact is that it has not been submitted to parliament to be ratified. and one more fact is that Ms Merkel does not dare to do the latter as the chair on which she sits is already quite wobbly.

[Naam]

gold at 1,170 / ounce

[flying]

gold at 1,170 / ounce

In GBP?

[Paulo1]

http://www.mynewslet...tter/1411015057

Not a bad read.

[Naam]

gold at 1,170 / ounce

In GBP?

yes.

[churchill]

Another slam $40 in 10 minutes ..

Perhaps Gaddafi is selling more ..

http://www.goldcore.com/news/gaddafi-regime-sold-1bn-gold

or the Swiss ? seem to have made a ' Pig's breakfast '

The dips seem to be bought though , short panic ?

[flying]

Today should be interesting....

After Euro markets had a rough ride last night

US DJIA down over 300 points this morning

Will see what gold does. So far hanging in no big rise or fall.

[Naam]

Gold disappoints!

[flying]

Usual Friday update

Gold lost $25 usd/oz since last Friday

Going from $1885.20 last Friday to $1859.60

Not much considering the week.

Today the TV talking heads kept saying why...why...why

isn't gold going up today????

Not one mentioned the fact that the USD went from below 75 to over 77

this week

Silver did not do so bad either

dropped from $43.35 last Friday to $41.48 today.

[churchill]

Gold disappoints!

What didn't ? Its all relative ... Given the markets is anyone betting that the Fed / G7 do not announce more QE ( to save Greece /Euro--and kick the can ... )

Is Trichet going to start printing .. probably !

Is Bernanke going to refire the presses ..Probably !

The Politicians are running around in circles and so the central banks have to print to give them time to sort out in their heads what they have to do ...Wait for Merkel and Sarkosy to announce an emergency meeting for Tuesday week

Swissie Gold and Euro Gold setting all time highs

http://traderdannorcini.blogspot.com/2011/09/swissie-gold-and-euro-gold-setting-all.html

Edited September 10, 2011 by churchill

[flying]

Gold disappoints!

How so?

[Naam]

Gold disappoints!

How so?

€U-land trouble and DOW minus 303 should have propelled Gold across 1,900 in USD terms. what we saw was just a meager performance in line with an overall stronger Dollar.

my [un]educated guess is that a number of investors are irritated/confused by the fluctuations and do not buy anymore left and right without thinking. they realised if gold had all those attributes the aficionados claim these big fluctuations would not occur.

nevertheless, Mrs Naam loves to read Churchill's "TATARATA... HEAR YE OH HEAR YE... the elders of the Chickasaw tribe Injuns have decided to add 1/64th of an ounce on top of each totem pole!"

what she doesn't like are his additions with question marks such as "Gold soon xxxx Dollars an ounce?" she would appreciate (methinks) exclamation marks!

[flying]

€U-land trouble and DOW minus 303 should have propelled Gold across 1,900 in USD terms. what we saw was just a meager performance in line with an overall stronger Dollar.

my [un]educated guess is that a number of investors are irritated/confused by the fluctuations and do not buy anymore left and right without thinking. they realised if gold had all those attributes the aficionados claim these big fluctuations would not occur.

I do not think the same.

What you saw today was not confused investors but confused paper traders nothing more.

Yes the traders run at the click of a mouse back to cash....

Nothing has changed.

Here in the USA as I type if you want a real ounce of gold it will cost you $1971 USD for a once ounce plain eagle.

You I know do not like coins so instead buy a 1 oz Credit Suisse Gold Bar .9999 Fine it will cost you $1933.19

For holders of physical I do not see confusion nor disappointment & I do not expect to see it anytime soon.

Because as I have said countless times before the premise I entered physical gold on has not changed.

If anything it has even today been reinforced.

Let the paper traders,bankers & CME margin increases continue to give buyers of physical dips with which to buy. I think many appreciate it.

As an aside....

Cleared OTC London Gold hike from $6751 to $9450 (40%.)

Edited September 10, 2011 by flying

[Naam]

What you saw today was not confused investors but confused paper traders nothing more. Yes the traders run at the click of a mouse back to cash...

does it matter "how" the gold price is determined Flying? fact is that paper gold traders move prices of Eagles and Crédit Suisse bars too with their mouse clicks.

[churchill]

' what she doesn't like are his additions with question marks such as "Gold soon xxxx Dollars an ounce?" '

Where please Naam "Gold soon xxxx Dollars an ounce?"

Edited September 10, 2011 by churchill

[flying]

What you saw today was not confused investors but confused paper traders nothing more. Yes the traders run at the click of a mouse back to cash...

does it matter "how" the gold price is determined Flying? fact is that paper gold traders move prices of Eagles and Crédit Suisse bars too with their mouse clicks.

Yes true of course & the premiums for real gold fluctuate to reflect the expanding disconnect.

It is a game of musical chairs & when the music stops not all will have chairs gold

I am not saying gold is a one way bet...of course not.

But I am saying daily we see more & more the volatility in the paper arena of stocks,bonds,treasuries,commodities.

Even with the strengthening dollar US 10 year treasury rates are now below 2% a record low

Since 10 years physical metals has not been volatile at all really

Not many can claim that stability & stability is what many holders of physical seek.

Day traders of paper metals? I dont have that mindset. I bought gold to get away from paper promises.

But there are those who are nimble & can maybe do well both up & down. But I would not want to be the one trying to time that. I fully expect to see $100 a day up & down swings before the COMEX implodes

Edited September 10, 2011 by flying

[churchill]

Buying gold and silver in liquid ban in France on 1 September 2011

runour has that much more drastic and restrictive legislation has been prepared in Germany.

Rumours, rumours

You generally come down very hard on anybody citing rumours and unsubstantiated information.

So come on then, abide by your own rules and give us the facts.....

fact is that legislation has been prepared. another fact is that it has not been submitted to parliament to be ratified. and one more fact is that Ms Merkel does not dare to do the latter as the chair on which she sits is already quite wobbly.

Something along these lines perhaps ..

Banks, Governments Move To Restrict Personal Gold Bullion Purchases

http://beforeitsnews.com/story/1074/524/Banks,_Governments_Move_To_Restrict_Personal_Gold_Bullion_Purchases.html

[churchill]

Interesting article from FT .. Sizing up the gold market

'the $240bn average daily turnover in the London bullion market is higher than the global daily turnover of any currency pair except for the dollar/euro, dollar/yen, dollar/sterling and dollar/Aussie dollar, according to the most recent Bank for International Settlements survey (which refers to April 2010).

The dollar/Swiss franc, that other great safe haven trade, is worth a mere $168bn a day.'

... more at .. http://www.ft.com/intl/cms/s/0/eb342ad4-daba-11e0-a58b-00144feabdc0.html#axzz1XWwD7DyK

[farang000999]

some very very obvious price manipulation lately. nobody is liquidating large positions at off peak hours and driving the price down $50 just to see it snap back up again except a central bank.

[Naam]

' what she doesn't like are his additions with question marks such as "Gold soon xxxx Dollars an ounce?" '

Where please Naam "Gold soon xxxx Dollars an ounce?"

not literally but similar a zillion times.

[churchill]

' what she doesn't like are his additions with question marks such as "Gold soon xxxx Dollars an ounce?" '

Where please Naam "Gold soon xxxx Dollars an ounce?"

not literally but similar a zillion times.

Quoted " "

So provide a few zillion similar examples

You always seem to be behind the curve ... Swiss Franc a safe haven etc

PS Why doesn't germany play rugby

[Naam]

You always seem to be behind the curve ... Swiss Franc a safe haven etc

and you need reading glasses because i posted when i considered CHF not anymore as safe haven and got out. that i got in again too fast causes only a tiny dent in the ~45% currency and 27% interest profit i raked in with CHF since 2007.

and before somebody asks how to achieve nowadays a yield of >6% p.a. in CHF with an AAA rated debtor here is the answer:

https://www.cortalconsors.de/euroWebDe/-;jsessionid=6E626B133DABCDB43E1C34C724B0386D.app229?currentpage=financeinfosHome.Desks.bonds&pattern=CH0102806061&fieldselector=quote&%24part=financeinfosHome.Desks.bonds.security-search&%24%24%24event_search=search&%24%24event_minisearch.x=0&%24%24event_minisearch.y=0

no, this answer is not for you Churchill, it is meant for serious investors who understand what i am talking about!

[Naam]

let the record show

-that some people need either reading glasses or possess a wealth of "no idea"

View PostNaam, on 2011-08-10 16:35:45, said:

sold today:

CH0103326721 (CHF hedged gold)

CH0047533572 (CHF hedged gold)

bought today:

CH0047533549 (USD denominated gold)

View PostNaam, on 2011-08-11 13:59:53, said:

CHF had an excellent performance but... trees don't grow sky high. there is a limit even for CHF. one also has to take into consideration what part of appreciation was caused by safe haven seekers. once the tide turns... we touched parity with EUR day before yesterday but today we are at 104.20

View PostNaam, on 2011-08-12 15:50:06, said:

as of 25 minutes ago i am not holding any CHF except what i might find in my travelling wallet

View PostNaam, on 2011-08-13 05:42:05, said:

an investor who is not able to change his mind, if need arises within minutes and new facts prove he is wrong, (e.g. my good friend Churchill) won't be successful. exceptions prove the rule.

for the record:

both my actions during the last few days secured that an accumulated profit was not reduced by ~$ 84k. perhaps an insignificant for rich TV-members but equivalent to nearly 10 months of my expenses in Thailand.

:jap:

[churchill]

1. From previous posts , I believe , you have/are invested in the Swiss Franc -

2. Why is this currency perceived as a safe option ?

3. Switzerland's Banks are having problems , which will get worse with the Euro crisis ...

4. Switzerland has very nice Chocolate , Ski Resorts , Swatch , A few good pharma companies...

1. correct, i am long CHF since years.

2. i did not invest in CHF based on the assumption "safe option". i invested to make profit. i need profit/yield/appreciation to reinvest and increase my net worth and last not least to pay for my living expenses since nearly 22 years when i gave up my last job.

3. Switzerland's banks have less problems than a bunch of other multinational banks. the two big'uns, Crédit Suisse and UBS just yesterday announced three billion dollars ($ 3,000,000,000) profit for the last quarter.

by the way... "EURo crisis", WHAT EURo crisis?

4. your knowledge of Switzerland's industry and exports entitles you to either one of these certificates

-"...has no freaking idea about the Swiss economy"

or

-"...possesses a wealth of no idea about the Swiss economy"

for those who are interested how the Swiss Franc fared during the last 3-5 years here some facts:

up vs GBP 90%

up vs USD 58%

up vs €UR 47%

up vs SGD 24%

What I said Naam is that 'You always seem to be behind the curve ... Swiss Franc a safe haven etc ' Not that you didn't eventually change your mind ...

As , in the past , with the IMF getting involved in Europe and the Chinese buying Euro ...You are quick to dismiss others views out of hand / Head buried in the sand -- behind the curve --not able to look ahead without ' Facts"

... but you yourself can falsely quote others to suite your arguments

A typical Naam quote ...

'Posted 2011-08-08 13:31:08

flying, said on 2011-08-08 11:02:04, said:

Yep the pretty green line has touched that $1700 USD mark....

Real gold is now headed for $1800 when premiums are factored in

Naam reply ..

gold clearly above rubber sheet expectations silver lagging equi.shit.ties = CHF rules currency markets last week's BoJ JP¥ intervention = '

Edited September 11, 2011 by churchill

[Naam]

Naam, on 2011-08-13 05:42:05, said:

an investor who is not able to change his mind, if need arises within minutes and new facts prove he is wrong...

'nuff said, case closed

p.s. "curves" do not matter. yada, yada, yakety-yak blah-blah does not matter. only the bottom line counts!

[gregb]

Naam, on 2011-08-13 05:42:05, said:

an investor who is not able to change his mind, if need arises within minutes and new facts prove he is wrong...

'nuff said, case closed

p.s. "curves" do not matter. yada, yada, yakety-yak blah-blah does not matter. only the bottom line counts!

Agreed Naam, but too much effort for most of us changing our minds all the time. That is why I prefer the "buy gold and forget it" option, a strategy which has been giving me an average 19% return over then past decade, and the fundamentals which are causing this have only gotten stronger as time moves on. There will be a break at some point in the future where gold moves sideways for a period of years, but not until after a serious economic collapse in the developed economies has reshaped the world. Then, after this interlude and the new realization that growth really is over and it wasn't just a one off debt crisis, it will be all about gold again until industrial civilization has collapsed to the point the overproduction problem has been resolved.

We are now living in a post growth world, and investment strategies that worked when growth was possible are just too difficult now.

I think the peace and serenity I get from sleeping at night knowing that my world view isn't going to change tomorrow is well worth a 19% average return vs. whatever small additional amount you can get with all of your effort. After all, I still have to go to work everyday. I don't have time to keep up with daily fluctuations in the markets.

[jcon]

Well summer is over (for me, as I'm back in Bangkok, jet-lagged) and I was dead wrong on on silver and gold - actually I was already wrong before I left Thailand for the summer... which saved me some potentially large losses since I tend to never turn on a computer when I'm in the US). Congrats to those of you who made money this summer on those trades.

I will marry soon, though, so I'd call it a wash! Thus my time in this country will come to an end in a short few weeks and I wish everybody the best. Thailand has been good to me but it's time for me to move on... I've never been so happy to put 50% of my assets at risk

Live well, folks. It's been fun.

(I will still battle the zombies in 2050... and as I've promised before, I will report back with my results )

[flying]

Well summer is over (for me, as I'm back in Bangkok, jet-lagged) and I was dead wrong on on silver and gold - actually I was already wrong before I left Thailand for the summer... which saved me some potentially large losses since I tend to never turn on a computer when I'm in the US). Congrats to those of you who made money this summer on those trades.

I will marry soon, though, so I'd call it a wash! Thus my time in this country will come to an end in a short few weeks and I wish everybody the best. Thailand has been good to me but it's time for me to move on... I've never been so happy to put 50% of my assets at risk

Live well, folks. It's been fun.

Yes you were wrong on the metals but hey its a 50/50 shot on many such things.

Congrats on the pending marriage ! Perhaps you will do as well as our pal Naam &

have a long successful marriage.

Remember man is not complete till he is married.....then he is finished

Kidding aside...Congrats!

[gregb]

I will marry soon, though, so I'd call it a wash! Thus my time in this country will come to an end in a short few weeks and I wish everybody the best. Thailand has been good to me but it's time for me to move on... I've never been so happy to put 50% of my assets at risk

Congratulations on your upcoming nuptials. Trading the single life for that of a family is a choice that will always give you returns, no matter what happens to your financial portfolio. There is no better investment you can make. Make sure to register at the gold shop for wedding gifts.

Hope you can come back here in several decades when the mutant zombie hordes really get going. We might have to hire actors to play them, but assuming I'm still around I'll make sure some are available for your fighting pleasure.

[farang000999]

lol @ the last few days and these sell offs at off peak hours... hmm.... why would anyone choose those hours as the time to unload just to see the price snap back again?