Where Is Gold Going In This Market

[flying]

are you trying to tell us you are not a member of the ill-lunatics or the picturemountains who are striving to dominate this world?

Are you kidding? I may be ill or a lunatic but do you know anyone that can dominate their Thai wife? Much less the world which is quite full of them

[churchill]

Please help me understand .

My pension is in Sterling and until recently invested in gold mining shares -

Now cash , as I think there may be a market correction - Probably wrong !

If there is a crash and in the short term gold goes down and the $ strenghtens - I reinvest -

I have noticed recently as the $ has strengthed mining shares in Australia have gone down because of exchange rates and oil strength -

- how does this effect my holdings in sterling

I believe the $ has to go down over the next year or so not sure whether sterling will be taken with it ,

Views -

Edited August 28, 2009 by churchill

[churchill]

Gold war

Posted by Izabella Kaminska on Aug 28 12:30.

Dennis Gartman, of the Gartman Letter - and who recently established a hedge fund, River Crescent, to put to work the buy and sell recommendations he publicises in his daily note - issued an interesting view on gold on Friday.

The trading range is drawing down tighter and tighter as the bullish and the bearish forces face each other in the trenches at ever closer range. Soon one side shall have the other on the run; we’ll join the winning side, allowing others to be braver than we.

According to Gartman, therefore, there’s a bit of a gold war being staged between some sizable but unidentified forces. This can be seen by the fact that gold held very, very steady on Thursday, including during the period when crude, grains and even share prices - for the briefest of moments - came under pressure.

As he commented:

Through it all, gold held steady, and gold priced in currencies other than the US dollar held steadiest of all. As we write, spot gold in US dollar terms is trading $950, and as the chart of gold in US terms at the upper left of p.1 this morning shows, there has been someone or “something” willingly selling gold at progressively lower dollar levels since early this month. They or “it” stopped gold firstly at $970; then again at $960; then again at $957 and again thus far this morning at $950. If $957 is taken out to the upside, we shall have no choice but to be very much impressed.

Which led Gartman to conclude on a somewhat bullish note:

More important than that, however, shall be gold in EUR and Sterling terms. In EUR terms, gold is trading €663 as we write and a movement upward through €668 would be even more impressive, and be of greater importance, than the movement through US$957 noted just above. In £ terms, the trend is even more definitively upward, and a movement upward through £586… it is trading £584 as we write… would mean that anyone short of gold in £ terms since June of this year is losing sizeable sums of money. Simply put, a real bull market in gold should take place in the terms of any and all currencies. That, we suspect, is about to happen.

http://ftalphaville.ft.com/blog/2009/08/28...war/?source=rss

[flying]

Simply put, a real bull market in gold should take place in the terms of any and all currencies. That, we suspect, is about to happen.

What do you think?

Will you act or wait & see?

[Naam]

are you trying to tell us you are not a member of the ill-lunatics or the picturemountains who are striving to dominate this world?

Are you kidding? I may be ill or a lunatic but do you know anyone that can dominate their Thai wife? Much less the world which is quite full of them

i have no experience with Thai wives but your reasoning is acceptable. i am married since nearly three decades. do i need to say more?

[flying]

i am married since nearly three decades. do i need to say more?

Man is not complete till he is married....Then he is finished

[sokal]

However, I would guess you could find 5-10 posts along these lines = the Chinese are buying so everyone should!!

I was (as you pointed out) indicating that these purchases were made for their own benefit (or possibly as an investment of last resort) and following them (by doing the same) might prove distressing.

I think this is where we look at it differently & that is fine of course.

You think the Chinese are buying as investment...( I think?)

But I think the Chinese are buying to dump dollars into what is perceived as

true money. In that respect it may or may not be a good idea for others to take note.

I think the word investment may be a misnomer when talking about gold. At least from my perspective.

Flying, you are one of the very few semi-goldbugs who's moderate and subtle pumping i find acceptable. most others i consider to be dreamers or outright ignorants.

China is buying gold as an investment.

If anyone thinks central banks sell gold to make more money then they need their head examined. Central banks can create legal tender money for free so why would they sell anything to buy something that they make for free ?

[flying]

But I think the Chinese are buying to dump dollars into what is perceived as

true money.

I think the word investment may be a misnomer when talking about gold. At least from my perspective.

China is buying gold as an investment.

If anyone thinks central banks sell gold to make more money then they need their head examined. Central banks can create legal tender money for free so why would they sell anything to buy something that they make for free ?

They sell to pay off their debt....

Paper money is debt; and one cannot pay off debt with debt. Debt can only discharge debt – not pay it off. Discharging debt is much the same as a bookie laying off risk – to another, any other, as long as it is no longer his risk.

That is what I meant when I said China is buying to dump the paper

This is old but good & you may have already seen it...

http://www.financialsense.com/fsu/editoria.../2008/0702.html

Edited August 29, 2009 by flying

[churchill]

http://www.gold-eagle.com/editorials_08/gnazzo082909.html

[Naam]

That is what I meant when I said China is buying to dump the paper

a posting from an informed sourced confirmed this a short time ago (about 2½ years ago). it will happen on an asian very early morning when the Europeans are sleeping and the Americans are busy watching the evening sex and crime news on FAUX and are later entertained by Bill O'Reilly.

it will take only a couple of hours and all UST debt paper the Chinese are holding will be dumped. to keep it secret as long as possible the stock exchanges on Nauru, Papua New Guinea, Tahiti and the Christmas Islands will be used. this procedure is anyway mandatory because the mosquito-shit size exchanges of London, Frankfurt and New York wouldn't be able to handle big volumes. when investors in the western hemisphere roll out of bed and look at the screens they will cry out loudly "why didn't we wear austrian lederhosen and bought dirndls for our wives and mistresses?!"

p.s. all the cash dollars China is holding will be used to cheat the King of Tonga out of his treasure of Krüger Rands and Gold Vrenelis which he keeps under his bed.

[churchill]

perhaps yes or no

http://matterhornassetmanagement.com/newsl.../?newsletter=21

[Abrak]

Simply put, a real bull market in gold should take place in the terms of any and all currencies. That, we suspect, is about to happen.

What do you think?

Will you act or wait & see?

I think the gold chart looks interesting - as though it is going to have a big move one way or another fairly soon after months of not doing much.

[flying]

a posting from an informed sourced confirmed this a short time ago (about 2½ years ago). it will happen on an asian very early morning when the Europeans are sleeping and the Americans are busy watching the evening sex and crime news on FAUX and are later entertained by Bill O'Reilly.

it will take only a couple of hours and all UST debt paper the Chinese are holding will be dumped. to keep it secret as long as possible the stock exchanges on Nauru, Papua New Guinea, Tahiti and the Christmas Islands will be used. this procedure is anyway mandatory because the mosquito-shit size exchanges of London, Frankfurt and New York wouldn't be able to handle big volumes. when investors in the western hemisphere roll out of bed and look at the screens they will cry out loudly "why didn't we wear austrian lederhosen and bought dirndls for our wives and mistresses?!"

p.s. all the cash dollars China is holding will be used to cheat the King of Tonga out of his treasure of Krüger Rands and Gold Vrenelis which he keeps under his bed.

Actually I hear they read Thai Visa under the log in ,,,two can chew

Once they read your post that you dumped your USD they said 现在出售美元!!

Edited August 30, 2009 by flying

[flying]

perhaps yes or no

http://matterhornassetmanagement.com/newsl.../?newsletter=21

Thanks good article

[flying]

I think the gold chart looks interesting - as though it is going to have a big move one way or another fairly soon after months of not doing much.

Agreed

It is getting ready to go sproing again

moves of $50 a day will soon be common place.

as you say one way or the other

Edited September 1, 2009 by flying

[Naam]

perhaps yes or no

http://matterhornassetmanagement.com/newsl.../?newsletter=21

Thanks good article

very good article! especially the excellent advice

quote: "The highest level of wealth preservation is gold and silver stored outside the banking system and also outside the country where you reside. Therefore an important percentage of a portfolio should be in this area."

now i'm thinking where i should store all that gold and silver "preservative" i am going to buy. Thailand is out because i reside here. my banks in SG, CH and L are out but not "outside the banking system". would it be a good idea to rent a warehouse in Northern Manchuria or perhaps one located in Fiji?

p.s. does anybody have an idea about warehouse rents in Vladivostok?

[Naam]

a posting from an informed sourced confirmed this a short time ago (about 2½ years ago). it will happen on an asian very early morning when the Europeans are sleeping and the Americans are busy watching the evening sex and crime news on FAUX and are later entertained by Bill O'Reilly.

it will take only a couple of hours and all UST debt paper the Chinese are holding will be dumped. to keep it secret as long as possible the stock exchanges on Nauru, Papua New Guinea, Tahiti and the Christmas Islands will be used. this procedure is anyway mandatory because the mosquito-shit size exchanges of London, Frankfurt and New York wouldn't be able to handle big volumes. when investors in the western hemisphere roll out of bed and look at the screens they will cry out loudly "why didn't we wear austrian lederhosen and bought dirndls for our wives and mistresses?!"

p.s. all the cash dollars China is holding will be used to cheat the King of Tonga out of his treasure of Krüger Rands and Gold Vrenelis which he keeps under his bed.

Actually I hear they read Thai Visa under the log in ,,,two can chew Once they read your post that you dumped your USD they said 现在出售美元!!

i did not "dump" my dollars Flying but got rid of them slowly and carefully over a certain period of time to avoid losses.

[sokal]

But I think the Chinese are buying to dump dollars into what is perceived as

true money.

I think the word investment may be a misnomer when talking about gold. At least from my perspective.

China is buying gold as an investment.

If anyone thinks central banks sell gold to make more money then they need their head examined. Central banks can create legal tender money for free so why would they sell anything to buy something that they make for free ?

They sell to pay off their debt....

Paper money is debt; and one cannot pay off debt with debt. Debt can only discharge debt – not pay it off. Discharging debt is much the same as a bookie laying off risk – to another, any other, as long as it is no longer his risk.

That is what I meant when I said China is buying to dump the paper

This is old but good & you may have already seen it...

http://www.financialsense.com/fsu/editoria.../2008/0702.html

Central banks can buy their own debt with infinate dollars that they can create. The fed is buying US debt, the treasurys are the debt.

[sokal]

perhaps yes or no

http://matterhornassetmanagement.com/newsl.../?newsletter=21

Thanks good article

very good article! especially the excellent advice

quote: "The highest level of wealth preservation is gold and silver stored outside the banking system and also outside the country where you reside. Therefore an important percentage of a portfolio should be in this area."

now i'm thinking where i should store all that gold and silver "preservative" i am going to buy. Thailand is out because i reside here. my banks in SG, CH and L are out but not "outside the banking system". would it be a good idea to rent a warehouse in Northern Manchuria or perhaps one located in Fiji?

p.s. does anybody have an idea about warehouse rents in Vladivostok?

The Pearth Mint will buy and store bullion.

[flying]

p.s. does anybody have an idea about warehouse rents in Vladivostok?

The Pearth Mint will buy and store bullion.

Fugget about it

When it comes to Bullion you dont own it if you dont hold it

[Naam]

p.s. does anybody have an idea about warehouse rents in Vladivostok?

The Pearth Mint will buy and store bullion.

Fugget about it When it comes to Bullion you dont own it if you dont hold it

but then Perth is only a hopper from here in case you need your gold. flight booking 24 hours, ½ hour to the airport, 1 hour waiting for boarding, 8 hours flight (stop in SIN), aussie immigration ½ an hour, taxi to Perth Mint ½ hour, loading pockets full with gold 10 minutes, taxi from Perth Mint to airport ½ an hour, waiting for flight departure 6 hours, 8 hours flight back to Suvarnabhumi, 1½ hours till home, waiting till Tesco opens 9 hours and... BINGO! the Mrs. pays for the groceries with gold. as simple as that!

OOPS! i forgot the 23% "tea gold" for thai customs

Edited September 2, 2009 by Naam

[sokal]

p.s. does anybody have an idea about warehouse rents in Vladivostok?

The Pearth Mint will buy and store bullion.

Fugget about it

When it comes to Bullion you dont own it if you dont hold it

were to you sell when the time comes though ? I have some gold in my house already but I was thinking of going for the Perth mint for more. Its a hel_l of allot better then the GLD ETF, the Perth mint has the gold, GLD doesnt.

[flying]

were to you sell when the time comes though ? I have some gold in my house already but I was thinking of going for the Perth mint for more. Its a hel_l of allot better then the GLD ETF, the Perth mint has the gold, GLD doesnt.

If I were to sell it would probably be back to where I bought.

There is also the possibilty of future trades .....No not for Bakeries...I hear my Klingon friend say

Yes GLD ETF type deals may be fine for traders but for holders/buyers I would stick with the you dont own if you dont hold theory.

The problem with any holding company would be the possibility of corruption/leasing it out on paper anyway to ETF's or other various scams. Maddoff was not the one & only ponzi type in the world.

Not too mention if war or something resembling a true collapse occurred...Who is to say how it would go & how you would retrieve it. If the US threatened confiscation once then it has a precedence. In the case of war all incoming international packages would be searched. Things like gold & silver tend to go missing during war times.

Edited September 2, 2009 by flying

[Naam]

In the case of war all incoming international packages would be searched.

even those packages which contain gold and other precious metals?

[flying]

In the case of war all incoming international packages would be searched.

even those packages which contain gold and other precious metals?

Yes & even the ones that dont

[cloudhopper]

Good commentary on gold price from Mish-

http://globaleconomicanalysis.blogspot.com...es-in-gold.html

[teletiger]

Is gold trying to break out to the upside? NOOOOO.....$974.80 now.....Tele sniffs for a bulltrap...HAhaha.

Who the <deleted> knows. ALL markets are now manipulated. All analytics are now officially bullshit. Toss a coin. Try your luck.

I've got small denomination gold, which I'll keep and put any losses down to insurance. If I pick up a few bakeries on the way, at least I'll have decent toast for breakfast.

Regards.

[flying]

Sproing

http://www.thaivisa.com/forum/Gold-Market-...41#entry2982841

Edited September 2, 2009 by flying

[ding]

America, during the Bush years, hid the M3. Therefore, I bought gold. I was ridiculed by my "betters". Now I wish I'd bought more!

eom

[sokal]

Is gold trying to break out to the upside? NOOOOO.....$974.80 now.....Tele sniffs for a bulltrap...HAhaha.

Who the <deleted> knows. ALL markets are now manipulated. All analytics are now officially bullshit. Toss a coin. Try your luck.

I've got small denomination gold, which I'll keep and put any losses down to insurance. If I pick up a few bakeries on the way, at least I'll have decent toast for breakfast.

Regards.

If you think gold is in a long term bull trap rally then you are clueless.

I get f*cked no matter what I do, that is why I am not a day trader. I am really bearsh on the Dollar long term but I figured because so many foolhardy investors will pile into the dollar short term that I would buy 1000 dollars to convert to BHT in 2 weeks for my trip. That was yesterday, now I turn on the TV and it seems like gold is decoupling from the dollar less then 12 hours after my $ purchase. Gold is up $20 and the dollar is down.