Where Is Gold Going In This Market

[Firefan]

The reason I hold gold (and some gold miners), about 10-15% of portfolio is, besides the "end of financial markets" scenario, is the re-balancing bonus I get from holding these.

A few asset classes fairly uncorrelated to stocks/bonds, really helps make my overall portfolio more stable. Especially if these asset classes have some volatility that can be re-balanced accordingly. So yes; I am now picking up some more gold and gold stocks to get back to my allocated % points.

I am eyeing the closed end fund CEF being in gold and silver bullions and currently at a record discount of about 15% to underlying assets. Gold/silver at 15% sale to current prices.

Cheers!

There's nothing like 're-balancing' one's portfolio with an asset turning to mush.

And continuing to flog the dead horse that gold is the 'safe' part of a portfolio.

Chanting junk in the face of reality.

Lol! yes hurts now - but felt good over the years when I sold gold and bought the assets having performed worse. Re-balancing do work - but owning gold is certainly not for everybody. I have the most fun with the couple of (Thai) gold (mini) bars that I hold in my safe- Great paper weights, or projectile weapons thrown at the CNBC talking heads! Cheers!

[Naam]

"i view gold like i view an insurance policy to compensate and use it in extreme situations."

What are some of the extreme situations in which you believe that gold may perform well?

on friday oct18, 2008 i was informed about the possibility of a temporary freeze

of global financial transactions and advised to hold adequate cash in hand. if that

had turned out to be reality it would have been an extreme situation. especially

if "temporary" lasted longer than only a few days.

But it seems like 7% of your wealth in gold just in case of a temporary freeze of global financial transactions seems a bit extreme. And even if this were to occur, wouldn't gold just devalue once money started flowing again? They seem to be getting on okay in Cyprus. Do you anticipate such a freeze to be accompanied by a devaluation of fiat currencies and the return of some kind of gold standard?

Lately I am searching for reasons to own gold, I am now around 5% net worth in gold and my positions previously have been purely speculative, that there will come a point where the shoe shiner is going to go out and want to buy gold. I think this is what Soro's was getting at with the "ultimate bubble" dialogue.

you are stating the wet wishful hallucination dream of the hardcore goldbugs. ah sez... neither... nor!

[Naam]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

som tam?

[Naam]

farang000999

But it seems like 7% of your wealth in gold just in case of a temporary

freeze of global financial transactions seems a bit extreme.

there seems to be some misunderstanding. it's presently 7% of my

capital that can be liquidated and converted into cash, if necessary,

within a couple of hours or even less. capital does not equal wealth.

[waza]

Gold Just Broke Through A Technical Level It Hasn’t Seen Since 2001: http://au.businessinsider.com/gold-breaks-200-week-moving-average-2013-4

Gold has fallen below the 200 day moving average soon it will be time to buy.

[farang000999]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

the theory is that the price of gold is being artificially manipulated downward by paper gold which sells gold that does not exist and thus increases the supply of gold available for sale.

so eventually all the "REAL INVESTORS" and "SERIOUS INVESTORS FROM THE EAST" are going to take physical possession of their gold and then there is not going to be an ounce available in any gold shop on Earth at which point everyone in paper gold is going to commit suicide because there is not really any gold for them.

and then the zombie apocalypse will start and the gold bugs will be the only house on their block with a supply of can goods and heavy weaponry and then several Victoria Secret models will seek shelter under their wing while offering sexual favors in exchange for cans of tuna and water purification tablets and there will be a special 800 number to call to be picked up by military guard and helicopter and taken somewhere (but NOT a bank) where the gold bug can sell his gold (BUT NOT FOR WORTHLESS FIAT MONEY) for various assets like hundreds of acres of agriculture land or perhaps the entire Coca Cola company which will only be worth 10 ounces of gold when all is said is done.

Remember GOLD IS REAL MONEY. BUY PHYSICAL AND CRASH THE BANKSTERS. BUY BITCOIN INSTEAD OF WORTHLESS FIAT THAT IS CREATED OUT OF THIN AIR

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work - IT IS BECAUSE OF ALL THE MONEY PRINTING BY THE BANKSTERS.

Don't study economics - WATCH YOUTUBE INSTEAD ..

[waza]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

the theory is that the price of gold is being artificially manipulated downward by paper gold which sells gold that does not exist and thus increases the supply of gold available for sale.

so eventually all the "REAL INVESTORS" and "SERIOUS INVESTORS FROM THE EAST" are going to take physical possession of their gold and then there is not going to be an ounce available in any gold shop on Earth at which point everyone in paper gold is going to commit suicide because there is not really any gold for them.

and then the zombie apocalypse will start and the gold bugs will be the only house on their block with a supply of can goods and heavy weaponry and then several Victoria Secret models will seek shelter under their wing while offering sexual favors in exchange for cans of tuna and water purification tablets and there will be a special 800 number to call to be picked up by military guard and helicopter and taken somewhere (but NOT a bank) where the gold bug can sell his gold (BUT NOT FOR WORTHLESS FIAT MONEY) for various assets like hundreds of acres of agriculture land or perhaps the entire Coca Cola company which will only be worth 10 ounces of gold when all is said is done.

Remember GOLD IS REAL MONEY. BUY PHYSICAL AND CRASH THE BANKSTERS. BUY BITCOIN INSTEAD OF WORTHLESS FIAT THAT IS CREATED OUT OF THIN AIR

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work - IT IS BECAUSE OF ALL THE MONEY PRINTING BY THE BANKSTERS.

Don't study economics - WATCH YOUTUBE INSTEAD ..

and bitcoins are made of?

[Firefan]

Lol! good one Farang!

[fletchsmile]

Gold Just Broke Through A Technical Level It Hasn’t Seen Since 2001: http://au.businessinsider.com/gold-breaks-200-week-moving-average-2013-4

Gold has fallen below the 200 day moving average soon it will be time to buy.

Think you mean it's just dropped below its 200-week moving average. As the article says it has been below 200-day moving average for some time now (since Feb).

It's actually below MA5,10,20,50,100,200 in terms of days = pretty much all.

But I'm sure there'll be a gold bug somewhere telling us something like its still in a bull trend because based on Silver/Gold Ratio, Basel III, and the amount of tinfoil hats in circulation, its still above the 200 year moving average

[fletchsmile]

I share the views above of people like Naam, Firefan etc, in terms of holding some gold just for diversification and insurance (though it doesn't cover all risks). I was never a fan of gold and still remain same. I've been mainly an equities person over the decades. As life moves on and times change, I've add fixed income, gold, property and other assets just in case.

FWIW:

In my investment portfolio, I've about 1% gold via ETFs and around 5% exposure to miners.

In my trading portfolios - which together are around about a tenth the value of the investment portfolio I hold about 7% gold and 30% in miners. These portfolios are basically there for: speculation, hedging, temporary rebalancing (if I don't want to touch the investment portfolio), shorting, leverage, currency views and anything else that takes my fancy in terms of opportunity or even reducing risk.

I added a little more gold and silver to the trading portfolio yesterday at XAU 1361 and XAG 23.43, and added a little to some of the miners which have taken a heavy beating. I thought a good chance of a bounce today whether deadcat or otherwise.

Fletch

[midas]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

the theory is that the price of gold is being artificially manipulated downward by paper gold which sells gold that does not exist and thus increases the supply of gold available for sale.

so eventually all the "REAL INVESTORS" and "SERIOUS INVESTORS FROM THE EAST" are going to take physical possession of their gold and then there is not going to be an ounce available in any gold shop on Earth at which point everyone in paper gold is going to commit suicide because there is not really any gold for them.

and then the zombie apocalypse will start and the gold bugs will be the only house on their block with a supply of can goods and heavy weaponry and then several Victoria Secret models will seek shelter under their wing while offering sexual favors in exchange for cans of tuna and water purification tablets and there will be a special 800 number to call to be picked up by military guard and helicopter and taken somewhere (but NOT a bank) where the gold bug can sell his gold (BUT NOT FOR WORTHLESS FIAT MONEY) for various assets like hundreds of acres of agriculture land or perhaps the entire Coca Cola company which will only be worth 10 ounces of gold when all is said is done.

Remember GOLD IS REAL MONEY. BUY PHYSICAL AND CRASH THE BANKSTERS. BUY BITCOIN INSTEAD OF WORTHLESS FIAT THAT IS CREATED OUT OF THIN AIR

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work - IT IS BECAUSE OF ALL THE MONEY PRINTING BY THE BANKSTERS.

Don't study economics - WATCH YOUTUBE INSTEAD ..

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work

they most certainly are…

in fact so prosperous that in America people are now using the food stamp card like a debit card............

and some are carrying a $7000 balance. Oh and they turn up in a Mercedes:blink:

still, it's only money, and thank God you can print more so easily eh ?

http://www.theblaze.com/stories/2013/02/25/7k-worth-of-food-stamps-per-person-the-state-where-this-is-happening-might-surprise-you/

Edited April 16, 2013 by midas

[midas]

Last Wednesday was also an important day for the Kennecott copper mine in Utah, the ground started to shift more rapidly prior to this weekend’s landslide. They knew this was coming as they closed the visitor center on April 1st and had all equipment and personnel out of harms way. This mine produces some 400,000 ounces of gold and over 3 million ounces of silver as a by product of copper. This is the largest copper mine on theplanet. Have you heard even a peep out of the mainstream media on this one? I didn’t think so.

Is it not strange that these two events came to a head last Wednesday? The same day that out of nowhere gold reversed from being up and give up $40? And then of course there was Friday with $85 and another $75 this morning. gold is now down $200 per ounce in just over 3 tradingdays. Between these two projects, one not coming online and the other
going off line, a VERY significant amount of production is not going to happen. Does this make sense? Did you not learn in school that “less” supply meant higher prices? In the real world?

http://blog.milesfranklin.com/force-majeure-was-the-end-game-all-along

Edited April 16, 2013 by midas

[midas]

Another doctored story?

Two of the largest wholesale suppliers in the US, including Amark and CNT, who is the supplier of
gold blanks to the US Mint for Gold Eagles, and is a registered COMEX
depository, HAVE JUST SOLD OUT OF ALL PHYSICAL SILVER!!!

AND……IT’S GONE!!!!!

http://silverdoctors.com/cnt-sold-out-of-all-physical-silver/

[Jayman]

http://blogs.telegraph.co.uk/finance/thomaspascoe/100024081/the-gold-price-crash-is-further-evidence-of-market-rigging/

The gold price crash is further evidence of market rigging

The facts in the public domain do not justify the sharp fall in the gold price over the past two trading days. At the time of writing, the price per 100oz is $1363, down over $200 since Friday's open. The scale of the sell-off was the worst in 30 years, with the volatility index standing at the highest level in its history.John Kemp at Reuters has calculated that based on a normal distribution, you would expect to see movements like Monday's only once in every 500 million trading days, or two million years. The news which would justify such a price swing is curiously absent – in fact, my view is that the market ought to be bullish for gold. Something doesn't add up.

Edited April 16, 2013 by Jayman

[jbrain]

http://blogs.telegraph.co.uk/finance/thomaspascoe/100024081/the-gold-price-crash-is-further-evidence-of-market-rigging/

The gold price crash is further evidence of market rigging

The facts in the public domain do not justify the sharp fall in the gold price over the past two trading days. At the time of writing, the price per 100oz is $1363, down over $200 since Friday's open. The scale of the sell-off was the worst in 30 years, with the volatility index standing at the highest level in its history.John Kemp at Reuters has calculated that based on a normal distribution, you would expect to see movements like Monday's only once in every 500 million trading days, or two million years. The news which would justify such a price swing is curiously absent – in fact, my view is that the market ought to be bullish for gold. Something doesn't add up.

Well it's clear that 500 Tonnes of gold wasn't sold by an individual, but was an organised sale with the intention to bring the price down quickly.

Begs the question who has an interest in such a price movement ?

[manarak]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

the theory is that the price of gold is being artificially manipulated downward by paper gold which sells gold that does not exist and thus increases the supply of gold available for sale.

so eventually all the "REAL INVESTORS" and "SERIOUS INVESTORS FROM THE EAST" are going to take physical possession of their gold and then there is not going to be an ounce available in any gold shop on Earth at which point everyone in paper gold is going to commit suicide because there is not really any gold for them.

and then the zombie apocalypse will start and the gold bugs will be the only house on their block with a supply of can goods and heavy weaponry and then several Victoria Secret models will seek shelter under their wing while offering sexual favors in exchange for cans of tuna and water purification tablets and there will be a special 800 number to call to be picked up by military guard and helicopter and taken somewhere (but NOT a bank) where the gold bug can sell his gold (BUT NOT FOR WORTHLESS FIAT MONEY) for various assets like hundreds of acres of agriculture land or perhaps the entire Coca Cola company which will only be worth 10 ounces of gold when all is said is done.

Remember GOLD IS REAL MONEY. BUY PHYSICAL AND CRASH THE BANKSTERS. BUY BITCOIN INSTEAD OF WORTHLESS FIAT THAT IS CREATED OUT OF THIN AIR

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work - IT IS BECAUSE OF ALL THE MONEY PRINTING BY THE BANKSTERS.

Don't study economics - WATCH YOUTUBE INSTEAD ..

ugh - most futures, forwards and options are settled in cash, not physical.

[yoshiwara]

http://blogs.telegraph.co.uk/finance/thomaspascoe/100024081/the-gold-price-crash-is-further-evidence-of-market-rigging/

The gold price crash is further evidence of market rigging

The facts in the public domain do not justify the sharp fall in the gold price over the past two trading days. At the time of writing, the price per 100oz is $1363, down over $200 since Friday's open. The scale of the [/size]sell-off was the worst in 30 years, with the volatility index standing at the highest level in its history.[/size]John Kemp at Reuters has calculated that based on a normal distribution, you would expect to see movements like Monday's only once in every 500 million trading days, or two million years. The news which would justify such a price swing is curiously absent – in fact, my view is that the market ought to be bullish for gold. Something doesn't add up.[/size]

Well it's clear that 500 Tonnes of gold wasn't sold by an individual, but was an organised sale with the intention to bring the price down quickly.

Begs the question who has an interest in such a price movement ?

Obviously not you.

[manarak]

http://www.zerohedge.com/contributed/2013-04-15/why-gold-crashing

hmmmmm......

[mania]

In every case where a dramatic selloff in gold has been seen across currencies,

the hard collapse has been coincidental to collateral issues in the global system

We Have Seen Gold Prices Act Like This Before

[farang000999]

http://www.ritholtz.com/blog/2013/04/the-10-rules-of-goldbuggery/

[NeverSure]

According to the bugs, there is no physical gold for sale anywhere.

What do gold shops sell if it's not gold. I must be missing something.

the theory is that the price of gold is being artificially manipulated downward by paper gold which sells gold that does not exist and thus increases the supply of gold available for sale.

so eventually all the "REAL INVESTORS" and "SERIOUS INVESTORS FROM THE EAST" are going to take physical possession of their gold and then there is not going to be an ounce available in any gold shop on Earth at which point everyone in paper gold is going to commit suicide because there is not really any gold for them.

and then the zombie apocalypse will start and the gold bugs will be the only house on their block with a supply of can goods and heavy weaponry and then several Victoria Secret models will seek shelter under their wing while offering sexual favors in exchange for cans of tuna and water purification tablets and there will be a special 800 number to call to be picked up by military guard and helicopter and taken somewhere (but NOT a bank) where the gold bug can sell his gold (BUT NOT FOR WORTHLESS FIAT MONEY) for various assets like hundreds of acres of agriculture land or perhaps the entire Coca Cola company which will only be worth 10 ounces of gold when all is said is done.

Remember GOLD IS REAL MONEY. BUY PHYSICAL AND CRASH THE BANKSTERS. BUY BITCOIN INSTEAD OF WORTHLESS FIAT THAT IS CREATED OUT OF THIN AIR

Also inflation is never a result of economic growth and the fact that people are more prosperous and less willing to work - IT IS BECAUSE OF ALL THE MONEY PRINTING BY THE BANKSTERS.

Don't study economics - WATCH YOUTUBE INSTEAD ..

and bitcoins are made of?

Ones and zeros in cyberspace. There is no thin air in cyberspace from which to make bitcoins.

[Naam]

According to the bugs, there is no physical gold for sale anywhere.

i just returned home after having a coffee in my favourite Pattaya goldshop. my question

"would it be possible to buy a substantial quantity of physical gold within the next 36 hours although it's Songkran?"

was answered

"how many tons would you like to have delivered to your house Khun Naam?"

[jbrain]

According to the bugs, there is no physical gold for sale anywhere.

i just returned home after having a coffee in my favourite Pattaya goldshop. my question

"would it be possible to buy a substantial quantity of physical gold within the next 36 hours although it's Songkran?"

was answered

"how many tons would you like to have delivered to your house Khun Naam?"

To which your replied ..........................tonnes .

[kotsak]

^^ Maybe a direct shipment from Cyprus? :>

[Naam]

^^ Maybe a direct shipment from Cyprus? :>

[Naam]

adding insult to injury

Gold Is Worth $370 An Ounce

The value of gold is in the eye of the beholder. It does not generate

income or provide much utility to investors, gold-coin baths notwithstanding.

http://seekingalpha.com/article/1342761-gold-is-worth-370-an-ounce?source=email_macro_view&ifp=0

[Naam]

"does Goldman always Suck?" obviously not!

Posted by Wealth Wire - Tuesday, April 16th, 2013

Last week, we reported on
Goldman Sachs (GS) slashing its outlook for gold and suggesting
investors short the precious metal. In a letter to its clients,
analysts at the company stated

“We see risk to current prices as skewed to the downside as we move through
2013. In fact, should our expectation for lower gold prices continue to
prove correct, the fall in prices could end up being faster and larger
than our forecast.”

But given Goldman’s history, it will be difficult
for many to trust this sentiment.

http://www.wealthwire.com/news/metals/4756?r=1

Edited April 17, 2013 by Naam

[doji]

I don't know but right now I'm seeing around 1380-1430 for this bottom, unless something comes up in a major way.

My bias outlook is still bearish. However there is a possibility of the mini reversal toward the end of the month or beginning of next month…..nothing for sure until the next 2 weeks.

Just my thought

haha I did warn you guys AGAIN and AGAIN (look at the date posted)

...well for those who choose to heed anyway, you should do quite ok

already met my target and sooner than I thought.

So I just got in again,,,and hope for a mini bounce (to around 1400-1425) in the next few days, then sell it quickly......'cause we're still in a bear trend (this is the trend that you normally want to sell on any rally, not buy on the dip). So will see <fingers crossed>

Edited April 17, 2013 by doji

[farang000999]

http://seekingalpha.com/article/1340961-what-it-really-costs-to-mine-gold-the-newmont-mining-edition?source=google_news

http://seekingalpha.com/article/1233851-what-it-really-costs-to-mine-gold-the-goldcorp-edition

http://seekingalpha.com/article/1339521-what-it-really-costs-to-mine-gold-the-eldorado-gold-edition

so how much does it really cost to mine gold per ounce boys?

[Naam]

when was the last time you bought something based on the cost of its production Farang?