Where Is Gold Going In This Market

[gregb]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

I'd say to them, "sure I'll pay you in Gold if you give me a discount".

I don't think it would be a discount so much as it would allow Iran to negotiate longer term contracts at a fixed price. If you were a gold producing country you might very well like the stability of knowing that you could always trade your excess yellow metal for a fixed quantity of oil.

Still, I would agree with Midas and be interested to know what the real reasoning is behind this announcement. There does appear to be a rather high correlation between countries selling oil in currencies other than USD and the US demanding "regime change". Doesn't seem like a real smart move for Iran to provoke the US at this point.

[gogobar8]

Where Is Gold Going In This Market

Round the tgf's neck, that's where.

You like her neck?

ATB not ATM

ggbar8 kkk

[Naam]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

but Samantha-Josephine, wife of another hunting friend, discards Bubba's claim and argues "them Eyeraynians will sell da Gold nex day for raw cash cause they need cash."

[gogobar8]

Apologies for intervening on this topic.

i got the wrong end of the stick.

I thought it was about the value of money, not 'I've got more money than you'.

PS. Iran and Isreal are bit players. That's why they stir up a hornet's nest. China will have gold coming out of their ears. Especially if the world doesn't need black gold to run motor cars.

[Naam]

Maybe so but each person must chose between “frothiness “ versus having assets in any third party accounts that these days risk disappearing at the blink of eye or keeping faith in pieces of paper that has a long history of failure.

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[gogobar8]

Maybe so but each person must chose between “frothiness “ versus having assets in any third party accounts that these days risk disappearing at the blink of eye or keeping faith in pieces of paper that has a long history of failure.

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So we are just talking about bits of metal then.

[flying]

So we are just talking about bits of metal then.

[gogobar8]

So we are just talking about bits of metal then.

My financial adviser drives a BMW 8 series coupe. Efficient money. Can't say I like him though.

Kind Regards as they say in London.

[Naam]

My financial adviser drives a BMW 8 series coupe. Efficient money. Can't say I like him though.

Kind Regards as they say in London.

as old as my 1991?

[lannarebirth]

Iran to accept gold for oil payment

my redneck hunting friend Bubba from Alabama claims this will drive the price of Gold to unseen heights.

I'd say to them, "sure I'll pay you in Gold if you give me a discount".

I don't think it would be a discount so much as it would allow Iran to negotiate longer term contracts at a fixed price. If you were a gold producing country you might very well like the stability of knowing that you could always trade your excess yellow metal for a fixed quantity of oil.

Still, I would agree with Midas and be interested to know what the real reasoning is behind this announcement. There does appear to be a rather high correlation between countries selling oil in currencies other than USD and the US demanding "regime change". Doesn't seem like a real smart move for Iran to provoke the US at this point.

Well it's all fungible isn't it? Press a buton and you get Euros, Dollars, Kroners or Gold. I don't buy into the whole "petrocurrency" idea.

Here's an idea I did buy into though. We've known for a long time that Greece and perhaps other countries were going to default in some manner. There exist a huge amount of CDS's wriitten against the day that "default" but whichever means should happen. That eventuality seemed like a good reason to haveabit of your portfolio in Gold. The International Swaps and Derivatives Association has determined that "no event of default" has occured in Greeece. So who's going to lend money to Portugal, Spain, Italy etc, knowing the insurance policy they bought to go along with it isn't worth the paper its written on?

[Naam]

Well it's all fungible isn't it? Press a buton and you get Euros, Dollars, Kroners or Gold. I don't buy into the whole "petrocurrency" idea.

Here's an idea I did buy into though. We've known for a long time that Greece and perhaps other countries were going to default in some manner. There exist a huge amount of CDS's wriitten against the day that "default" but whichever means should happen. That eventuality seemed like a good reason to haveabit of your portfolio in Gold. The International Swaps and Derivatives Association has determined that "no event of default" has occured in Greeece. So who's going to lend money to Portugal, Spain, Italy etc, knowing the insurance policy they bought to go along with it isn't worth the paper its written on?

only Bubba from Alabama and a few resident experts think it makes a huge big difference how any commodity is traded.

as far as Greece "default", CDSs and ISDA is concerned the fat lady hasn't sung yet! if Greece has to invoke CACs then ISDA might change its view.

[gogobar8]

My financial adviser drives a BMW 8 series coupe. Efficient money. Can't say I like him though.

Kind Regards as they say in London.

as old as my 1991?

Early 90's, around the time of the last recession? Reminds me of a joke at the time: What's the difference between a yuppie and a pigeon? Pigeon can still put a deposit on a porsche.

[edgarfriendly]

Yawn!

More procrastination!

Back in the 1740s, blah blah yawn, blurgh blurgh blurgh, etc etc etc.

Gold has just dropped again & again , and not a word about it...(for over 3 days)

So i'll try to guide the lost souls back in line....

I bought another bit at 24750. (gold - in case anyone thinks we're still talking about fuc_kwittedness)

Not sure the reason for the 'dip' but i prefer a inch or two of yellow metal to a couple of bricks of stinky bills.(even the new ones stink, worse in fact)

Edited March 6, 2012 by edgarfriendly

[fletchsmile]

Gold's been a bit dull this year. Back below 1700 it starts to pick up interest for me, as I still think it'll hit 1800+ at some point in the next few weeks, so happy to restock below 1700 and hold.

Silver is much more fun again particularly this year. I find it hard to put a value on as to where it's heading though, so it's mainly a case of buy the dips and sell the rallies short term for me on silver using 2x ETFs. Not keen on large overnight positions for silver, tho' will keep some smaller ones on 1x ETFs.

Edited March 6, 2012 by fletchsmile

[Naam]

will some kind soul please enlighten me why Gold is falling? we all know that them Injuns, Tchinese, Center Bankers et al are crazy after Gold as is the devil after a poor soul.

i asked Mrs Naam (who is supposed to know <deleted> everything about Gold) but instead of an answer i got a cold stare which made me shiver. if my dogs wouldn't have been with me for protection and without making a tactical withdrawal i wonder whether i'd be able to type these lines.

[PCA]

Gold is due for a correction to 1500 and possibly below: washing out the weak hands, contract roll-over play from institutions and corellation to a stock markets retracement and a little USD hickup. Unless we get more and for instant surprising global shockwaves like Iran starts to blow Israel off the map etc. Gold is not hot at the moment. All BS-stories are priced in.

Greetings

[edgarfriendly]

ouch!

Edited March 6, 2012 by edgarfriendly

[flying]

will some kind soul please enlighten me why Gold is falling?

Hey I warned you....Told you I had to sell due to our changing countries.....

Not to worry though as it is temporary & when we arrive at new home I will be re-buying & the price will

once again be nice

[letitbe]

Gold is due for a correction to 1500 and possibly below: washing out the weak hands, contract roll-over play from institutions and corellation to a stock markets retracement and a little USD hickup. Unless we get more and for instant surprising global shockwaves like Iran starts to blow Israel off the map etc. Gold is not hot at the moment. All BS-stories are priced in.

Greetings

Gold is due for a correction to 1500 and possibly below: washing out the weak hands, contract roll-over play from institutions and corellation to a stock markets retracement and a little USD hickup. Unless we get more and for instant surprising global shockwaves like Iran starts to blow Israel off the map etc. Gold is not hot at the moment. All BS-stories are priced in.

Greetings

quite likely I think but long term it does not matter unless your a day trader We just buy all time at whatever the price when we have cash. Were still moving from 40% property 50% stocks 10 % gold and silver to around 25% property 25% stocks and 50% gold and silver.

[flying]

quite likely I think but long term it does not matter unless your a day trader We just buy all time at whatever the price when we have cash. Were still moving from 40% property 50% stocks 10 % gold and silver to around 25% property 25% stocks and 50% gold and silver.

This is what I call a good idea

For folks that wanted to know when to buy physcial I have always said...buy when you have extra cash not earmarked for other things.

Also like you I was 50% originally but after 3-4 years it changed/grew quite a bit...due to metals value increase

Edited March 6, 2012 by flying

[Naam]

will some kind soul please enlighten me why Gold is falling?

Hey I warned you....Told you I had to sell due to our changing countries.....

Not to worry though as it is temporary & when we arrive at new home I will be re-buying & the price will

once again be nice

i suspected some more conspiracy. the 800 ounces you sold couldn't have that much of an impact. perhaps Churchill...

[flying]

will some kind soul please enlighten me why Gold is falling?

Hey I warned you....Told you I had to sell due to our changing countries.....

Not to worry though as it is temporary & when we arrive at new home I will be re-buying & the price will

once again be nice

i suspected some more conspiracy. the 800 ounces you sold couldn't have that much of an impact. perhaps Churchill...

hahah well I will have to let him speak for himself

[gogobar8]

Where Is Gold Going In This Market?

China

[churchill]

will some kind soul please enlighten me why Gold is falling?

Hey I warned you....Told you I had to sell due to our changing countries.....

Not to worry though as it is temporary & when we arrive at new home I will be re-buying & the price will

once again be nice

i suspected some more conspiracy. the 800 ounces you sold couldn't have that much of an impact. perhaps Churchill...

I lightened a little following the well directed punch delivered last week ...

even Fartman thinks there was something 'nefarious '

'Dear Dennis, hope you are well. Regarding yesterday’s action in the precious metals, I have a different take on this than you do. As I have very intimate details of yesterday, I think it was indeed official selling. At the London fixing, an order came in to sell 3 million ounces of gold and it was explicitly ordered to be done in just a few minutes. No investor or speculator would 1) handle it this way and 2) do it at the fixing only. This has happened this way three times in the last year, yesterday being the fourth time. Ben Bernanke had done nothing yesterday to trigger this the way it happened. I have done this now for 30 years and this was no free market yesterday. We will find out one day.'

but think it could take off just as quickly to the upside .. if only to catch the most out ...

[binjalin]

Dont worry when Israel starts bombing Iran we should see a movement hehe

[falkan]

falling today to... -200

[Naam]

We will find out one day

conspiracy!

[lannarebirth]

The July to September pattern looks like a runup to a selling top. Since then its been lower highs and lower lows.

[churchill]

The July to September pattern looks like a runup to a selling top. Since then its been lower highs and lower lows.

Isn't the best pattern to look at .. the trend over the last few years rather than trying to spot short term trends ? The USD is looking downward but may spike up short term due to europe as is Gold looking upward but may spike lower .... for whatever reason ..

One can show patterns over the last 6 months in USD , EURO , GOLD , SILVER , S&P etc etc

Do you trade on short term or long term trends ? & Perhaps rely on charts too much ?

PS I think that if problems in Europe do blow up both Gold and USD will move up ....

[lannarebirth]

The July to September pattern looks like a runup to a selling top. Since then its been lower highs and lower lows.

Isn't the best pattern to look at .. the trend over the last few years rather than trying to spot short term trends ? The USD is looking downward but may spike up short term due to europe as is Gold looking upward but may spike lower .... for whatever reason ..

One can show patterns over the last 6 months in USD , EURO , GOLD , SILVER , S&P etc etc

Do you trade on short term or long term trends ? & Perhaps rely on charts too much ?

PS I think that if problems in Europe do blow up both Gold and USD will move up ....

Yeah, maybe.