Where Is Gold Going In This Market

[xylophone]

I have just come across a couple of Warren Buffett's many quotes on the subject of gold and he seems to make sense:

"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

"You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what it's worth at current gold prices, you could buy - not some - all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?"

[Cosmo88]

For long term wealth creation, investment is preferable to speculation.

[SheungWan]

The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say.

http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.html

Marginal to the dreadful collapse since $1920.

Edited April 21, 2014 by SheungWan

[midas]

some people have an incredible appetite for it

Gold bars removed from Indian man's stomach

Twelve bars of gold have been recovered from the stomach of a businessman in the Indian capital, Delhi, a surgeon treating him has said.

The 63-year-old man was admitted to hospital after complaining of vomiting and difficulty defecating.

He told his doctor that he had swallowed a bottle cap in anger, after a fight with his wife.

But when surgeons operated they found gold bars weighing nearly 400g (14oz) in his stomach instead of a bottle cap.

http://www.bbc.com/news/world-asia-india-27076019

Edited April 21, 2014 by midas

[xylophone]

some people have an incredible appetite for it

Gold bars removed from Indian man's stomach

Twelve bars of gold have been recovered from the stomach of a businessman in the Indian capital, Delhi, a surgeon treating him has said.

The 63-year-old man was admitted to hospital after complaining of vomiting and difficulty defecating.

He told his doctor that he had swallowed a bottle cap in anger, after a fight with his wife.

But when surgeons operated they found gold bars weighing nearly 400g (14oz) in his stomach instead of a bottle cap.

http://www.bbc.com/news/world-asia-india-27076019

Ah, so gold's not going down the gurgler.............not in his case anyway!

[midas]

[SheungWan]

Interview with Grant Williams, investment strategist, who will self-admittedly have lost you big time last year on gold stocks. The rest is just waffle.

[SheungWan]

Reported in WSJ that Tudor Investments a hedge fund made $100 million on a $10 million bet on gold put options over 2013. ie betting against gold prices.

[midas]

India Gold Premiums 20% With Effective Price of $1,554

Edited May 2, 2014 by midas

[Naam]

India Gold Premiums 20% With Effective Price of $1,554

actual purchase premiums are even higher at 22-23%

[Duff]

Bought loooots of silver and miners yesterday, trailing stop. Nice risk/reward ratio. Gold and silver right above support, bullish RSI divergence, Silver/gold ratio at 23Y support, miners iH&S on weekly, weak USD... Potential very nice move to the upside. If support breaks, I'm out

Sent from my iPhone using Thaivisa Connect Thailand

[SheungWan]

Bought loooots of silver and miners yesterday, trailing stop. Nice risk/reward ratio. Gold and silver right above support, bullish RSI divergence, Silver/gold ratio at 23Y support, miners iH&S on weekly, weak USD... Potential very nice move to the upside. If support breaks, I'm out

Sent from my iPhone using Thaivisa Connect Thailand

[Duff]

Yup, supports still holding so far. Should it break, I'll get out without hesitation. I like the risk reward. Small loss vs much better potential gains

Sent from my iPhone using Thaivisa Connect Thailand

[midas]

Hey, SheungWan I posted this interesting info graphic just for you

I bet you didn't know there are 10 million weddings that take place in India every year and 30 to 50% of the expenses of the wedding are the purchase of gold !!!

http://www.visualcapitalist.com/the-gold-series-the-eclipsing-demand-of-the-east-part-3-of-5

Edited May 10, 2014 by midas

[SheungWan]

Hey, SheungWan I posted this interesting info graphic just for you:giggle:

I bet you didn't know there are 10 million weddings that take place in India every year and 30 to 50% of the expenses of the wedding are the purchase of gold !!!

http://www.visualcapitalist.com/the-gold-series-the-eclipsing-demand-of-the-east-part-3-of-5

I am reminded of the joke that 10 billion flies can't be wrong....

[Sandman77]

Until we not get clear aswer , who manipulated the gold price I will stop invest in gold!

Since last year I loose 500€

With 5 gold coins of 31 gramm each!

Some say the Americans controll and manipulated gold and silver price !

[SheungWan]

Until we not get clear aswer , who manipulated the gold price I will stop invest in gold!

Since last year I loose 500

With 5 gold coins of 31 gramm each!

Some say the Americans controll and manipulated gold and silver price !

You should have a word with the guys who 'guaranteed' the price was going up so that you could make a quick speculative killing, or maybe you already did and they told you a little story.

[healthbkkbkk]

Gold may be bought and sold as long as those with guns and prisons allow it so I'm not holding my breath in the hope of a benevolent government allowing me to controvert their currency in the long term.

[mccw]

Gold may be bought and sold as long as those with guns and prisons allow it so I'm not holding my breath in the hope of a benevolent government allowing me to controvert their currency in the long term.

Hi - sorry; I don't really follow.....

Can you elaborate please?

[healthbkkbkk]

Gold may be bought and sold as long as those with guns and prisons allow it so I'm not holding my breath in the hope of a benevolent government allowing me to controvert their currency in the long term.

Hi - sorry; I don't really follow.....

Can you elaborate please?

Just my way of saying I don't trust Washington and her cronnies. The exchange, use and barter of metals can be regulated or rendered illegal at the stroke of a pen and has been done so in the past.

[midas]

Gold may be bought and sold as long as those with guns and prisons allow it so I'm not holding my breath in the hope of a benevolent government allowing me to controvert their currency in the long term.

Hi - sorry; I don't really follow.....

Can you elaborate please?

Just my way of saying I don't trust Washington and her cronnies. The exchange, use and barter of metals can be regulated or rendered illegal at the stroke of a pen and has been done so in the past.

Well that is exactly why the likes of Marc Faber has been arguing strenuously over at least the past year for people not to keep their gold in USA.

But I hardly think that Washington is going to influence the likes of Russia, China and India who are furiously stocking up with the real thing. I would like to see Vladimir Putin's reaction to Washington's attempt to use the stroke of a pen on them

[SheungWan]

Gold may be bought and sold as long as those with guns and prisons allow it so I'm not holding my breath in the hope of a benevolent government allowing me to controvert their currency in the long term.

Hi - sorry; I don't really follow.....

Can you elaborate please?

Just my way of saying I don't trust Washington and her cronnies. The exchange, use and barter of metals can be regulated or rendered illegal at the stroke of a pen and has been done so in the past.

Well that is exactly why the likes of Marc Faber has been arguing strenuously over at least the past year for people not to keep their gold in USA.

But I hardly think that Washington is going to influence the likes of Russia, China and India who are furiously stocking up with the real thing. I would like to see Vladimir Putin's reaction to Washington's attempt to use the stroke of a pen on them

We look forward to viewing a current gold price graph showing the effects of furious gold price activity.

Edited May 12, 2014 by SheungWan

[midas]

Hi - sorry; I don't really follow.....

Can you elaborate please?

Just my way of saying I don't trust Washington and her cronnies. The exchange, use and barter of metals can be regulated or rendered illegal at the stroke of a pen and has been done so in the past.

Well that is exactly why the likes of Marc Faber has been arguing strenuously over at least the past year for people not to keep their gold in USA.

But I hardly think that Washington is going to influence the likes of Russia, China and India who are furiously stocking up with the real thing. I would like to see Vladimir Putin's reaction to Washington's attempt to use the stroke of a pen on them

We look forward to viewing a current gold price graph showing the effects of furious gold price activity.

cartoon_Duck.jpg

That is irrelevant because you know full well the paper market is more than 100 times bigger than physical market. Let's see who has the last laugh at the end of the day though

Edited May 12, 2014 by midas

[SheungWan]

We look forward to viewing a current gold price graph showing the effects of furious gold price activity.

cartoon_Duck.jpg

That is irrelevant because you know full well the paper market is more than 100 times bigger than physical market. Let's see who has the last laugh at the end of the day though

So give us a graph of the physical market for the last 12 months and the divergence in price from the overall market. It must have increasingly diverged, right? tap, tap....and 'er which day are we talking about Thursday? Friday? this month/this year/next year?

[Duff]

EUR/USD breaking down from 2Y rising wedge at 6Y T/L

US dollar index highly inversely correlated to gold. Likely to breakout shortly to the upside.

EUR/USD weights 57.6% of the USD index

=> Bearish for Gold/Silver

[Sandman77]

You can also buy gold certificates that are independent by the US dollar!

[Naam]

You can also buy gold certificates that are independent by the US dollar!

[Sandman77]

Yesterday I heard that the London silver and gold fixing will be disapsard soon because of to many manipulation of gold price and angry people loosing to much money and going to the court!

What comes next when the fixing is no more?

[midas]

Yesterday I heard that the London silver and gold fixing will be disapsard soon because of to many manipulation of gold price and angry people loosing to much money and going to the court!

What comes next when the fixing is no more?

Some opinions here including in the comment section below the article

The Beginning Of The End Of Precious Metals Manipulation: The London Silver Fix Is Officially Dead

http://www.zerohedge.com/news/2014-05-14/beginning-end-precious-metals-manipulation-london-silver-fix-officially-dead

Edited May 15, 2014 by midas

[Duff]

There is no manipulation. Only people buying and selling. Some have deeper pockets than others