Where Is Gold Going In This Market

[Naam]

This is interesting -

http://seekingalpha.com/article/296124-seems-like-mexico-purchased-110-tons-of-gold-that-don-t-exist?source=yahoo

"The gold that composes the reserve in question is made up of bars that may have a minimum and maximum of gold. The bars with minimum content weigh approximately 10.9 kilos, while those with maximum content have an approximate weight of 13.4 kilos. The information is published by the London Bullion Market Association. ... Due to the variability of the content of gold in the bars, it is not possible to specify with certainty the exact number of bars purchased."

and after bullshitting the journalist they chuckled, lived happily ever after and laughed out loudly when they read in "seekingalpha" the story of the 13.4 kilos.

[flying]

If silver breaks below $29.80 on Monday morning

It may be a seat belt scenario....Will be interesting to watch the GSR

If it hits & holds that 60/1 I will be swapping some AU>AG

With my adjusted cost of AU now at $609/oz it will be like buying silver at

$10/oz

Edited October 1, 2011 by flying

[Naam]

With my adjusted cost of AU now at $609/oz it will be like buying silver at $10/oz

although mathematically correct some people call this a "reverse milkmaid calculation".

[flying]

although mathematically correct some people call this a "reverse milkmaid calculation".

I kinda have a soft/hard spot for milkmaids

Kidding aside I know what you mean/thinking

But I am long so it is just a method of expansion of stockpile/reduction of adjusted cost

so far it has worked well. No guarantee it will continue

[Naam]

I kinda have a soft/hard spot for milkmaids

me too... but only if they have knockers the size of milkbuckets nevertheless, expressions like "averaging down" and "adjusted cost" give me the creeps.

[flying]

I kinda have a soft/hard spot for milkmaids

me too... but only if they have knockers the size of milkbuckets nevertheless, expressions like "averaging down" and "adjusted cost" give me the creeps.

Well I though it goes without saying a milkmaid has milk jugs?

I agree that I do not like that averaging down technique at all & remember many took that ill advised approach in the 2000 NASDAQ crash.

But adjusted cost to me is not the same thing. At least not as used in the GSR swapping

[churchill]

Gold may crash to $1100-1200,industrial metals may fall 40%: Marc Faber

http://cnbusinessnews.com/gold-may-crash-to-1100-1200industrial-metals-may-fall-40-marc-faber/?utm_source=dlvr.it&utm_medium=twitter

[churchill]

Have gold and silver market conditions changed, fundamentally?

Gold and silver prices are being pulled back solely in the search for liquidity, not because the safe-haven qualities of gold and silver have evaporated.

http://www.mineweb.com/mineweb/view/mineweb/en/page103855?oid=136656&sn=Detail

[midas]

Gold may crash to $1100-1200,industrial metals may fall 40%: Marc Faber

http://cnbusinessnews.com/gold-may-crash-to-1100-1200industrial-metals-may-fall-40-marc-faber/?utm_source=dlvr.it&utm_medium=twitter

he said it in an interview last week that he still wasn't selling his own gold holdings

because he expected the printing presses to start up again in the near future.

I wonder if he has changed his position on this regarding his own holdings?

Edited October 1, 2011 by midas

[midas]

Have gold and silver market conditions changed, fundamentally?

Gold and silver prices are being pulled back solely in the search for liquidity, not because the safe-haven qualities of gold and silver have evaporated.

http://www.mineweb.com/mineweb/view/mineweb/en/page103855?oid=136656&sn=Detail

interesting article churchill

[letitbe]

If silver breaks below $29.80 on Monday morning

It may be a seat belt scenario....Will be interesting to watch the GSR

If it hits & holds that 60/1 I will be swapping some AU>AG

With my adjusted cost of AU now at $609/oz it will be like buying silver at

$10/oz

you must be into paper gold silver like GLD and SLV Physical silver except pellets used in jewellery cant be found anywhers in Thialand and anyway theirs 7% vat on silver although pellets are sold without vat and no receipt.

[lannarebirth]

Have gold and silver market conditions changed, fundamentally?

Gold and silver prices are being pulled back solely in the search for liquidity, not because the safe-haven qualities of gold and silver have evaporated.

http://www.mineweb.c...36656&sn=Detail

interesting article churchill

I didn't click the link but what chuechill says makes a certain amount of sense. If an asset isn't liquid or have great deal of utility it doesn't have much value, unless it's throwing off all kinds of cash, which of course Gold doesn't.

[midas]

Have gold and silver market conditions changed, fundamentally?

Gold and silver prices are being pulled back solely in the search for liquidity, not because the safe-haven qualities of gold and silver have evaporated.

http://www.mineweb.c...36656&sn=Detail

interesting article churchill

I didn't click the link but what chuechill says makes a certain amount of sense. If an asset isn't liquid or have great deal of utility it doesn't have much value, unless it's throwing off all kinds of cash, which of course Gold doesn't.

but if you read the whole article I don't think you can say the author is particularly complimentary about cash

either -in any denomination ?

"With the U.S. dollar the only standing safe haven in the currency world and one not too far away from its own meltdown, gold and silver have yet to really show their historic qualities. We're very close to a major financial accident that will cause far deeper problems for the developed world."

[flying]

you must be into paper gold silver like GLD and SLV Physical silver except pellets used in jewellery cant be found anywhers in Thialand and anyway theirs 7% vat on silver although pellets are sold without vat and no receipt.

I have never bought a paper IOU for either silver or gold.

It would be counter intuitive to my reasons for owning metals.

I live in the USA most of the time & spend a few months a year in our

home in Thailand.

[flying]

U.S. States Seek to Break Financial Connection with Federal Government

Some of the reasons given in the article....

The issues underlying this historic development include:

1. The unsound condition of large U.S. banks, which have inaccurate and crumbling balance sheets along with $250 trillion in high-risk OTC derivatives contracts;

2. The unstable nature of the U.S. and world financial systems, characterized by unworkable levels of sovereign debt and private debt and by over $600 trillion in OTC derivatives liabilities;

3. The excessive levels of federal government debt and unfunded liabilities combined with falling federal tax revenues prior to the start of the double-dip recession that began in the second half of 2011;

4. The radically inflationary monetary policies of the federal government and of the Federal Reserve, which promise high inflation or hyperinflation in the future;

5. The worsening condition of the real U.S. economy outside of large banks, multinational corporations, and Wall Street firms, where federal government bailouts and Federal Reserve monetary easing (money printing) transfer wealth from proverbial Main Street to literal Wall Street;

6. The rapidly escalating polarization of the distribution of wealth, which threatens not only the economic stability of the United States but also its social and political stability; and

7. The current, highly inflationary monetary system is plainly unfair and fundamentally immoral.

Full article at link

[churchill]

'Thailand bought 9.3 tonnes of gold in August, the data showed, while Bolivia added an extra 7 tonnes to its reserves and Russia, which has steadily been building up its gold holdings this year, buying another 5.6 tonnes of gold.'

http://business.financialpost.com/2011/09/30/thailand-bolivia-and-russia-boost-gold-reserves/

[Naam]

keep up the good work again Churchill!

[letitbe]

you must be into paper gold silver like GLD and SLV Physical silver except pellets used in jewellery cant be found anywhers in Thialand and anyway theirs 7% vat on silver although pellets are sold without vat and no receipt.

I have never bought a paper IOU for either silver or gold.

It would be counter intuitive to my reasons for owning metals.

I live in the USA most of the time & spend a few months a year in our

home in Thailand.

LUCKY YOU you cant get silver coins here and closest best place is Hong Kong but theirs around 6-8% premium for eagles maple leaf etc Singapore you can buy but problem is 7% vat and although you can get that back on leaving country birng it here to Thailand and you have ot pay 7% vat or risk it being taken by customs. Thailand must be best place in world to buy gold bars with only a 100 baht per baht buy/sell spread thats less than 1/2% Most anywhere else gold bullian dealers charge round 6% + buy sell spread Interested to know what spread is for silver 99.9% coins in america I guess ill check on internet

[midas]

keep up the good work again Churchill!

[flying]

LUCKY YOU you cant get silver coins here and closest best place is Hong Kong but theirs around 6-8% premium for eagles maple leaf etc Singapore you can buy but problem is 7% vat and although you can get that back on leaving country birng it here to Thailand and you have ot pay 7% vat or risk it being taken by customs. Thailand must be best place in world to buy gold bars with only a 100 baht per baht buy/sell spread thats less than 1/2% Most anywhere else gold bullian dealers charge round 6% + buy sell spread Interested to know what spread is for silver 99.9% coins in america I guess ill check on internet

Yes Silver is still available here although Silver Eagles are getting tougher to get except as new un-circulated coins.

I felt a little bad when I swapped over a large quantity of them for gold.

I also had equal amounts of Maples & generics like the one in my avatar

As for the spread for Silver coins here in the US I can usually get +$2 usd

if I want on basic 1 oz coins again eagles cost a little more.

This site is a good gauge although I have only ever bought one large quantity from them.

Because my local dealer who I have dealt with for years does way better for me.

http://www.apmex.com/Category/503/Silver.aspx

As you can see the eagle if bought in small quantities is high at + $5.49 on top of spot per oz

If you buy 500+ ounces it drops to +$3.99/oz + spot

Maples are barely less

When it comes to silver I have no qualms about the .999 generics like the one in my avatar

Bars are nice too & equally priced although I usually buy coins when I am in Silver mode.

Edited October 2, 2011 by flying

[Naam]

gold is a must!

[farang000999]

we are headed for deflation and gold will be sold along with everything else imho. naam have you gotten back into paper gold?

[flying]

we are headed for deflation and gold will be sold along with everything else imho. naam have you gotten back into paper gold?

Those who have been in physical metals long enough never doubted all would crash to some degree & then go their separate ways.

These same folks do not trade paper IOU's for obvious reasons.

Lastly the folks that hold physical did not spend their last dimes on it.

That which is set aside in metals was done so over time after everything else was taken care of.

It is not these folks that will be selling.

It will be all the Johnny come lately's that thought they could flip metal like they thought they could flip houses.....

Up until the bottom fell out & they got foreclosed on

Edited October 2, 2011 by flying

[farang000999]

i have some physical gold as well. i sold all my paper gold.

[Naam]

we are headed for deflation and gold will be sold along with everything else imho. naam have you gotten back into paper gold?

my opinion today is "no paper gold unless the hype drives the price beyond $2,000/ounce". my decision has nothing to do with any potential future deflation or inflation (on both the jury is still out without having reached a verdict).

[flying]

i have some physical gold as well. i sold all my paper gold.

Like I have said many times... Paper is not for me but...Nothing wrong with paper & for traders/gamblers that

are nimble & quick there is money to be made surely....Especially as volatility accelerates.

But this volatility & the various drops can be attributed in large part to this corrupt

paper so called representation of that which does not exist.

[Naam]

i have some physical gold as well. i sold all my paper gold.

Like I have said many times... Paper is not for me but...

1. Nothing wrong with paper & for traders/gamblers that are nimble & quick there is money to be made surely....Especially as volatility accelerates.

2. But this volatility & the various drops can be attributed in large part to this corrupt paper so called representation of that which does not exist.

1. i fully agree. even a 'gold-dummy' like me made a bundle but, looking at it with hindsight, due to sheer luck (the latter i confessed to you yesterday).

2. a double assumption ("attributed to" and "does not exist") which might or might not be true. clear evidence does not exist.

[flying]

1. i fully agree. even a 'gold-dummy' like me made a bundle but, looking at it with hindsight, due to sheer luck (the latter i confessed to you yesterday).

2. a double assumption ("attributed to" and "does not exist") which might or might not be true. clear evidence does not exist.

Well I know your main investments are based on sound logic as in X input will equal Y return over Z amount of time.

But still your timing was excellent with 1818 etc.

As for #2 I think the evidence is forthcoming & of course there will be much thrashing till it is shaken out.

[Naam]

But still your timing was excellent with 1818 etc.

buying 1818.HK and 246.HK was based on the recommendation of the gold-anals of one of my banks. i just followed their suggestion. fact is that both skyrocketed and i pocketed the profit. fact is also that 246.HK is not trading since months, the stock is practically worthless, because they faked their balance sheet.

that much for my "excellent" timing

[letitbe]

LUCKY YOU you cant get silver coins here and closest best place is Hong Kong but theirs around 6-8% premium for eagles maple leaf etc Singapore you can buy but problem is 7% vat and although you can get that back on leaving country birng it here to Thailand and you have ot pay 7% vat or risk it being taken by customs. Thailand must be best place in world to buy gold bars with only a 100 baht per baht buy/sell spread thats less than 1/2% Most anywhere else gold bullian dealers charge round 6% + buy sell spread Interested to know what spread is for silver 99.9% coins in america I guess ill check on internet

Yes Silver is still available here although Silver Eagles are getting tougher to get except as new un-circulated coins.

I felt a little bad when I swapped over a large quantity of them for gold.

I also had equal amounts of Maples & generics like the one in my avatar

As for the spread for Silver coins here in the US I can usually get +$2 usd

if I want on basic 1 oz coins again eagles cost a little more.

This site is a good gauge although I have only ever bought one large quantity from them.

Because my local dealer who I have dealt with for years does way better for me.

http://www.apmex.com...503/Silver.aspx

As you can see the eagle if bought in small quantities is high at + $5.49 on top of spot per oz

If you buy 500+ ounces it drops to +$3.99/oz + spot

Maples are barely less

When it comes to silver I have no qualms about the .999 generics like the one in my avatar

Bars are nice too & equally priced although I usually buy coins when I am in Silver mode.

by here please say where here is ive been trying to find a source all over BKK for some time for 99.99% silver coins or bars.