Where Is Gold Going In This Market

[udonguy]

only for those who have enough time and patience plus the ability for right timing.

Ability or a bit of luck

i think it takes only a little ability but a shitload of luck.

yes well we need some now as PMs are stagnating and becoming boring ;P

[12DrinkMore]

only for those who have enough time and patience plus the ability for right timing.

Ability or a bit of luck

i think it takes only a little ability but a shitload of luck.

yes well we need some now as PMs are stagnating and becoming boring ;P

I like boring where my finances are concerned.

A very boring and steady inflation proof increase into the future.

[udonguy]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

[flying]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

That is a definite possibility...........But at that point folks have two choices

[edgarfriendly]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

That is a definite possibility...........But at that point folks have two choices

Care to elaborate?

[flying]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

That is a definite possibility...........But at that point folks have two choices

Care to elaborate?

Well when it comes to PM's there is always two choices.......Buy/Hold or Sell/liquidate

IMHO folks should have a premise in place when they bought.

Then stick to that premise

In undonguys case he said he feared TPTB would concoct some nonsense to instigate a sell off.

If a person who is using his eyes & ears/premise knows it is nonsense then he should not fear it but instead

see it as a buying opportunity or at least a non-event for physical PM's long term.

Of course if udonguy is a day trader he will act on it to his advantage & use news

even false news based in fear as a tool to buy & sell paper at appropriate times.

But at the end of the day there is always two choices. Which one a person chooses should be

based on the premise not fear.

As always this is not a recommendation to buy or sell. Just a recommendation to know why

you are buying or selling.

Edited April 30, 2012 by flying

[midas]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

how exactly ?

[udonguy]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

how exactly ?

because the 'safe haven' would not be so appealing - share would rise and... fill in the blank

[12DrinkMore]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

They are continually trying to tell us that the west is in a recovery. Nobody believes them.

IMO there is enough demand in China, India, Asia and the central banks of the net exporting nations to support the price of gold, they are fed up with the USD and Tim's Bullshit No Interest Bonds, that the Bernank has to suck up as buyer of the last resort in order to pump up the price, and are looking for alternatives.

I'm sure that gold will continue to go up and down as a bit of froth created by the speculators, but I am happy to live with that. I'm not selling or buying, just holding on as a hedge against the western financial mess.

[Jayman]

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/30_Citibank_Analyst_Extraordinarily_Bullish_Gold%2C_Oil_%26_US_Dollar.html

Citibank Analyst Extraordinarily Bullish Gold, Oil & US Dollar

.

.

We expect that gold will continue to go up against the dollar, but, over time, we expect it will go up even more against a currency like the euro. So, it’s more of a switching of places of the paper currencies, but a bias to believe that gold is going to continue to outperform those paper currencies.

Also, in this dynamic where we are seeing a lot of paper printing, a lot of money printing and monetary experiments, gold is reverting to its true safe haven status, which is first and foremost as a hard currency.”

[udonguy]

http://kingworldnews..._US_Dollar.html

Citibank Analyst Extraordinarily Bullish Gold, Oil & US Dollar

.

.

We expect that gold will continue to go up against the dollar, but, over time, we expect it will go up even more against a currency like the euro. So, it’s more of a switching of places of the paper currencies, but a bias to believe that gold is going to continue to outperform those paper currencies.

Also, in this dynamic where we are seeing a lot of paper printing, a lot of money printing and monetary experiments, gold is reverting to its true safe haven status, which is first and foremost as a hard currency.”

Blimey - a rise soon then

[midas]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

how exactly ?

because the 'safe haven' would not be so appealing - share would rise and... fill in the blank

you misunderstood my question. How exactly are they going to convince the world of investment

that we are out of the woods? I realise some people may be a bit stupid but you would have to be

retarded to believe that anything they say now which seems too good to be true and

contradicts the economic fundamentals that we have slowly learnt about on obscure

websites ( not the MSM ! )would be nothing but nonsense?

Edited May 1, 2012 by midas

[midas]

Gold Shakes Off $1.24 Billion ‘Fat Finger’

The CME Group Inc.’s Comex division recorded an unusually large transaction of 7,500 gold futures during one minute of trading at 8:31 a.m. EDT. The sale took out blocks of bids as large as 84 contracts in one fell swoop and cut prices down to $1,648.80 a troy ounce. The overall transaction was worth more than $1.24 billion.

“No one who has the account size and the money to trade thousands of gold contracts would do it in one transaction, that’s just stupid,” said one trader. The collateral required to purchase 7,500 contracts is about $75.9 million in cash that the trader would have deposited with his broker.

http://blogs.wsj.com/marketbeat/2012/04/30/gold-shakes-off-1-24-billion-fat-finger/

[udonguy]

me too but I fear the 'powers that be' will concoct some nonsense that we are 'out of the woods' and PMs will take a big hit

how exactly ?

because the 'safe haven' would not be so appealing - share would rise and... fill in the blank

you misunderstood my question. How exactly are they going to convince the world of investment

that we are out of the woods? I realise some people may be a bit stupid but you would have to be

retarded to believe that anything they say now which seems too good to be true and

contradicts the economic fundamentals that we have slowly learnt about on obscure

websites ( not the MSM ! )would be nothing but nonsense?

well I guess they wouldn't convince the more discerning (this board of wise folk for example) but I know many, many people who just don't believe it's as bad as it is (gob ni kala)

[Naam]

Blimey - a rise soon then

sure! "Kingworldnews" = royal news

[farang000999]

hi Naam,

I don't think one should expect to be to hold gold long term and do anything other than beat inflation, if that. however, the dynamic between gold and paper money is quite real. Basically, we need gold when our paper moeny cycles begin to fail. this happened in 1980 but the Chinese stepped in and we began a 30 year cycle of Chinese growth for US debt. That cycle appears to be coming to an eventual end.

What happens next?

The truth is that we have not been here before. Only in 1980. And 1980 was very very different. In 1980 the US had a trade surplus and very little debt. Our debt was held in long term bonds by Americas.

how exactly do you see the western debt crisis resolved?

give me a few scenarios where gold collapses and why?

[midas]

how exactly ?

because the 'safe haven' would not be so appealing - share would rise and... fill in the blank

you misunderstood my question. How exactly are they going to convince the world of investment

that we are out of the woods? I realise some people may be a bit stupid but you would have to be

retarded to believe that anything they say now which seems too good to be true and

contradicts the economic fundamentals that we have slowly learnt about on obscure

websites ( not the MSM ! )would be nothing but nonsense?

well I guess they wouldn't convince the more discerning (this board of wise folk for example) but I know many, many people who just don't believe it's as bad as it is (gob ni kala)

Yes if you relied on MSNBC and Bloomberg to inform you what was going on you would think that the world was hunky-dory

Edited May 1, 2012 by midas

[Jayman]

Blimey - a rise soon then

sure! "Kingworldnews" = royal news

Is there a list of approved news sources that can be posted here without being ridiculed due to the source website. I see kingworldnews is a no go. So is the alpha site of financial times. Please supply a list of the "Naam approved" news sources that you don't immediately dismiss. Maybe you like FOX news perhaps?

[Jayman]

Here is a good interview from Monday's Russian Times on the gold market.

Edited May 1, 2012 by Jayman

[Naam]

different people have different reasons for holding gold in different forms. in 2010 i have been doing some trading in paper gold and gold mine shares for profit but stopped about a year ago. the physical gold we are holding are for a completely different reason, namely to compensate / bridge a potential temporary global suspension of all banking/financial procedures which, by the way, we missed by a hair's breadth in october 2008 and which for several months scared the living beejesus out of me.

these are my, respectively our, reasons to hold a certain percentage of our assets in gold. whether the value of our gold will be tomorrow or any time soon $500 or $2,000 per ounce is totally irrelevant for us. not irrelevant would be if gold is priced at $5,000 within the coming months because that would mean that the value of our other income producing liquid assets, if not discarded or converted in time, will take a heavy nosedive and some of them would not be income producing anymore.

this is my personal view, i can't speak for others.

[Naam]

Here is a good interview from Monday's Russian Times on the gold market.

what qualifications are required to judge an interview (broadcasted on "Russia Today") to be "good"?

[midas]

the physical gold we are holding are for a completely different reason, namely to compensate / bridge a potential temporary global suspension of all banking/financial procedures which, by the way, we missed by a hair's breadth in october 2008 and which for several months scared the living beejesus out of me.

me too and because they didn't fix anything since then but even worse

that they have relied on lies and cover-up to try to make things look " normal "

should make it even more scary than in 2008?

incidentally how long is your interpretation of temporary?

Edited May 1, 2012 by midas

[Naam]

the physical gold we are holding are for a completely different reason, namely to compensate / bridge a potential temporary global suspension of all banking/financial procedures which, by the way, we missed by a hair's breadth in october 2008 and which for several months scared the living beejesus out of me.

me too and because they didn't fix anything since then but even worse

that they have relied on lies and cover-up to try to make things look " normal "

should make it even more scary than in 2008?

incidentally how long is your interpretation of temporary?

one week to three months. what somehow worries me since a few months are strong indications that "they" are quite skillfully managing to "kick the can down the road" for a long time (perhaps even years) to come which will make it more and more difficult for us little people to counteract and protect the value of our assets.

[Jayman]

Here is a good interview from Monday's Russian Times on the gold market.

what qualifications are required to judge an interview (broadcasted on "Russia Today") to be "good"?

ok.. fine... here is an good informative interview I enjoyed.

[midas]

the physical gold we are holding are for a completely different reason, namely to compensate / bridge a potential temporary global suspension of all banking/financial procedures which, by the way, we missed by a hair's breadth in october 2008 and which for several months scared the living beejesus out of me.

me too and because they didn't fix anything since then but even worse

that they have relied on lies and cover-up to try to make things look " normal "

should make it even more scary than in 2008?

incidentally how long is your interpretation of temporary?

the. what somehow worries me since a few months are strong indications that "they" are quite skillfully managing to "kick the can down the road" for a long time (perhaps even years) to come which will make it more and more difficult for us little people to counteract and protect the value of our assets.

personally I wouldn't use the word skilful but they are lucky so far in convincing

the haves to keep indulging in a system which supports the have nots.

in Europe and America I can't possibly see how they can restore employment

and I think it's like Vesuvius simmering under the surface. I also believe the anger the

have nots could eventually display if the governments can no longer deliver would make

your one week to three months exceptionally optimistic.

[Naam]

personally I wouldn't use the word skilful but they are lucky so far in convincing

the haves to keep indulging in a system which supports the have nots.

in Europe and America I can't possibly see how they can restore employment

and I think it's like Vesuvius simmering under the surface. I also believe the anger the

have nots could eventually display if the governments can no longer deliver would make

your one week to three months exceptionally optimistic.

whatever the mediterranean havenots undertake will not change their shitty situation. moreover, the havenots don't have the power to interrupt global financial transactions. but even if they could the afore-said applies, i.e. no change or most probably change to an even shittier situation because their ATMs will be out of order too and welfare payments could not be disbursed.

worst case scenario and a considerable global shock would be Greece, Portugal and Spain abandoning the €UR, go back to Drachmas, Escudos and Pesetas and default on their external debt. result: shittiest² situation for the havenots.

[12DrinkMore]

Blimey - a rise soon then

sure! "Kingworldnews" = royal news

Is there a list of approved news sources that can be posted here without being ridiculed due to the source website. I see kingworldnews is a no go. So is the alpha site of financial times. Please supply a list of the "Naam approved" news sources that you don't immediately dismiss. Maybe you like FOX news perhaps?

It's the ad hominem tactic, used a lot around here.

[farang000999]

Russia Today does do a very good job of zooming in on and the showcasing the physical features of their hosts.

[Jayman]

Here is an excerpt from an interview with Jean Marie Eveillard, who oversees $50 billion at First Eagle Funds.

Eveillard said that the authorities should not be in the business of manipulating equity prices because it is extremely dangerous. He also discussed the gold market, but first, here is what Eveillard had to say about what is happening with stocks: “This has been artificial stimulation. Savers are being sacrificed today. With short-term interest rates basically down to zero, and long-term Treasury bonds yielding very little, the authorities are trying to push the savers into equities. That’s the wrong thing to do.”

Jean-Marie Eveillard continues:

“The authorities should not be in the business of manipulating equity prices or manipulating any prices for that matter. They should let the markets clear. The Federal Reserve has placed a floor under the equity market, so traders and investors are taking advantage of it.

If there is a floor under the equity market, well, it cannot really go down or at least not by much, it can only go up. Now, to some extent it’s a dangerous game because you don’t want the authorities to try to manipulate investors and traders into doing things they shouldn’t be doing."

“In the end, of course, it will be the fundamentals that will prevail. To the extent that the policies of the Federal Reserve and of some other major central banks have been inflationary, this probably will have negative unintended consequences. The bottom line is the Federal Reserve is doing things they shouldn’t be doing.”

Eveillard had this to say about the gold market: “Even though I’m positive towards commodities, I don’t look at gold as a commodity. At the current level, I look at gold as a substitute currency. What matters is whether there is investment demand or investment supply.

In other words, there has been good investment demand over the last ten years. Today, the central banks and a number of individuals like me, who are worried about the future, have been buyers. So, gold, I don’t look at it at all as a commodity.

I’m saying that I continue to hold gold and possibly buy more because I think that the policies that are being followed will have negative unintended consequences that will appear at some point.”

[midas]

personally I wouldn't use the word skilful but they are lucky so far in convincing

the haves to keep indulging in a system which supports the have nots.

in Europe and America I can't possibly see how they can restore employment

and I think it's like Vesuvius simmering under the surface. I also believe the anger the

have nots could eventually display if the governments can no longer deliver would make

your one week to three months exceptionally optimistic.

whatever the mediterranean havenots undertake will not change their shitty situation. moreover, the havenots don't have the power to interrupt global financial transactions. but even if they could the afore-said applies, i.e. no change or most preich's politics but i robably change to an even shittier situation because their ATMs will be out of order too and welfare payments could not be disbursed.

worst case scenario and a considerable global shock would be Greece, Portugal and Spain abandoning the €UR, go back to Drachmas, Escudos and Pesetas and default on their external debt. result: shittiest² situation for the havenots.

I dont agree with Reich's politics but i do share his view about the dangers

he refers to. As the financial noose tightens, racial and religous

intolerance is simultanenously is becoming very noticeable.

The Tinder-Box Society

" Public anger and frustration can ignite in two very different ways. One is toward reforms that more broadly share the productivity gains.

The other is toward demagogues that turn people against one another.

Demagogues use fear and frustration to advance themselves and their own narrow political agendas – scapegoating immigrants, foreigners, ethnic minorities, labor unions, government workers, the poor, the rich, and “enemies within” such as communists, terrorists, or other conspirators.

Be warned. The demagogues already are on the loose. In Europe, fringe parties on the right and left are gaining ground. In America, politics has turned especially caustic and polarized. (The right is even accusing people it doesn’t like of being communists.) No one knows where China is heading, but reformers and ideologues are battling some of it out in public."

http://robertreich.o...ost/22204212722

Edited May 3, 2012 by midas