Where Is Gold Going In This Market

[Naam]

"The taxpayer lost an estimated £7 billion, twice the amount lost when Britain left the Exchange Rate Mechanism in 1992. The proceeds from the sales were invested in dollars, euros and yen..."

which, according to some smartasses, did not generate any proceeds.

[churchill]

I was never really believed in gold price manipulation but ..

:"In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."

http://www.zerohedge.com/article/did-gordo...es-how-ny-fed-m

[sokal]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Its going to quadruple again, here is your second chance if you have the brain cells to take it.

[bartender100]

Gordon brown 1992 " A weak currency arises from a weak economy which is in turn the result of a weak government"

[Naam]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Its going to quadruple again, here is your second chance if you have the brain cells to take it.

yada, yada, yada... bla-bla-bla

Edited March 25, 2010 by Naam

[Naam]

it took gold THIRTY years to go from $860 to today's $1088/ounce, bottom line = HUGE BIG LO$$. case closed! next...

[khunjake]

Break and hold under $1100 has taken out the bullish undercurrent for now. Perhaps a smack back into the mid-800s is on deck before the uptrend continues? With the way EURUSD is acting, a break under 1.30 could trip gold as well.

[Naam]

Break and hold under $1100 has taken out the bullish undercurrent for now. Perhaps a smack back into the mid-800s is on deck before the uptrend continues? With the way EURUSD is acting, a break under 1.30 could trip gold as well.

but for sure it will quadruple... in the long run... the experts say so...

[flying]

Break and hold under $1100 has taken out the bullish undercurrent for now. Perhaps a smack back into the mid-800s is on deck before the uptrend continues? With the way EURUSD is acting, a break under 1.30 could trip gold as well.

This is the turn I thought was coming 2nd week of March.

1080 has to hold if not we should see that 1045....could be good for some

[Naam]

Break and hold under $1100 has taken out the bullish undercurrent for now. Perhaps a smack back into the mid-800s is on deck before the uptrend continues? With the way EURUSD is acting, a break under 1.30 could trip gold as well.

This is the turn I thought was coming 2nd week of March. 1080 has to hold if not we should see that 1045... could be good for some

shhhhhh...! the Mrs has the hots again since she saw <1100

[Abrak]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Selling gold at 20 year lows doesnt really look a very smart trade. Still in ten years time people might look back and say buying it after it had already gone up 500% in ten years wasnt that smart either.

Still what I find a far more staggeringly stupid trade was the BoT spending US$60bn to US$70bn shorting the baht against the US$.

[Naam]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Selling gold at 20 year lows doesnt really look a very smart trade. Still in ten years time people might look back and say buying it after it had already gone up 500% in ten years wasnt that smart either.

Still what I find a far more staggeringly stupid trade was the BoT spending US$60bn to US$70bn shorting the baht against the US$.

you took the words from my mouth!

[lannarebirth]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Its going to quadruple again, here is your second chance if you have the brain cells to take it.

Let's say you're right. What else might be expected to go up at the same time?

[flying]

shhhhhh...! the Mrs has the hots again since she saw <1100

:D Smart Girl

[lannarebirth]

shhhhhh...! the Mrs has the hots again since she saw <1100

Smart Girl

Undoubtedly she is, but OTOH it may be getting ready to plunge. Those negative divergances only go on for so long.

[flying]

Undoubtedly she is, but OTOH it may be getting ready to plunge. Those negative divergences only go on for so long.

True if the 1080/1045 does not hold it could go bearish for a bit....

But again for me physical is insurance...If I was in gold paper I would sell at those points.

Physical wise I will probably add at some point still.

[sokal]

"Between 1999 and 2002, Mr Brown ordered the sale of almost 400 tons of the gold reserves when the price was at a 20-year low. Since then, the price has more than quadrupled, meaning the decision cost taxpayers an estimated £7 billion, according to Mike Warburton of the accountants Grant Thornton."

smartasses knew already ten years ago that gold will quadruple

Its going to quadruple again, here is your second chance if you have the brain cells to take it.

Let's say you're right. What else might be expected to go up at the same time?

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

[Naam]

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

i don't know about "nothing" but my portfolio has beaten gold over the last thirty years, last twenty years, last ten years and especially last year even though i am drawing since more than twenty years a considerable amount every year to cover my living expenses. goldbugs always conveniently forget or suppress the fact that fiat money creates fiat money income and this fiat money is needed by many invesstors for the afore-mentioned purpose.

[sokal]

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

i don't know about "nothing" but my portfolio has beaten gold over the last thirty years, last twenty years, last ten years and especially last year even though i am drawing since more than twenty years a considerable amount every year to cover my living expenses. goldbugs always conveniently forget or suppress the fact that fiat money creates fiat money income and this fiat money is needed by many invesstors for the afore-mentioned purpose.

I am talking the major indexes like the Nasdaq, DOW, or US dollar. Not your imaginary madoff portfolio that never loses money ever in life.

Edited March 26, 2010 by sokal

[Naam]

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

i don't know about "nothing" but my portfolio has beaten gold over the last thirty years, last twenty years, last ten years and especially last year even though i am drawing since more than twenty years a considerable amount every year to cover my living expenses. goldbugs always conveniently forget or suppress the fact that fiat money creates fiat money income and this fiat money is needed by many invesstors for the afore-mentioned purpose.

I am talking the major indexes like the Nasdaq, DOW, or US dollar. Not your imaginary madoff portfolio that never loses money ever in life.

that is where the ignorants, daytraders and speculators invest. my portfolio had three down years in 1998, 2003 and 2008. but it is not imaginary and it generates income each and every year which is nearly double your capital (see your posting "$200k investment and sitting at the beach"). by the way, how anybody can "live" with the proceeds from this mini-capital is beyond my comprehension. is it the 200Baht a night hotel rooms which makes it possible?

[teletiger]

Its going to quadruple again,

Let's say you're right. What else might be expected to go up at the same time?

ICBMs?

Regards.

[teletiger]

that is where the ignorants, daytraders and speculators invest. my portfolio had three down years in 1998, 2003 and 2008. but it is not imaginary and it generates income each and every year which is nearly double your capital (see your posting "$200k investment and sitting at the beach"). by the way, how anybody can "live" with the proceeds from this mini-capital is beyond my comprehension. is it the 200Baht a night hotel rooms which makes it possible?

You speak of ignorants, whilst swallowing the bait and engaging in a pissing contest in the playground?

Ignorance must be relative, I guess, Herr Doctor.

Regards.

[Naam]

that is where the ignorants, daytraders and speculators invest.

You speak of ignorants, whilst swallowing the bait and engaging in a pissing contest in the playground? Ignorance must be relative, I guess, Herr Doctor. Regards.

my claim still stands:

-those who invested 10 years ago in mutual funds or indices in Dow, Nasdaq or S&P have incurred huge losses. they were ignorant and believed the nonsense that "in the long run" shares are going only one way and that is... UP.

-daytraders and speculators who picked, bought and sold individual shares fared much better.

-it is my business if, when, where and why i engage in a "pissing contest" (whatever that means).

[edgarfriendly]

so we buyin or sellin today?

ef

[ding]

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

i don't know about "nothing" but my portfolio has beaten gold over the last thirty years, last twenty years, last ten years and especially last year even though i am drawing since more than twenty years a considerable amount every year to cover my living expenses. goldbugs always conveniently forget or suppress the fact that fiat money creates fiat money income and this fiat money is needed by many invesstors for the afore-mentioned purpose.

True. I'm guilty of that. Thanks for your insights too Naam.

I have small money now but I just added a little physical gold again. The patriarch of Bangkok Bank (name?) gave an interview and said he sees gold going to $2,000. I got so much heat buying at $740 that I stopped. But gold coins can be used for things of value of any currency in any country, which may be needed given my country, and at my level of wealth... read; not much!

[Naam]

so we buyin or sellin today?

that depends on your preferences. personally i follow the rule "if you ever think of buying stocks/shares, take a deep breath, drink a glass of good booze and then sit patiently in a corner till the attack subsides!"

[Naam]

In the last ten years nothing went up with gold. I am guessing nothing will go up with gold again.

i don't know about "nothing" but my portfolio has beaten gold over the last thirty years, last twenty years, last ten years and especially last year even though i am drawing since more than twenty years a considerable amount every year to cover my living expenses. goldbugs always conveniently forget or suppress the fact that fiat money creates fiat money income and this fiat money is needed by many invesstors for the afore-mentioned purpose.

True. I'm guilty of that. Thanks for your insights too Naam.

I have small money now but I just added a little physical gold again. The patriarch of Bangkok Bank (name?) gave an interview and said he sees gold going to $2,000. I got so much heat buying at $740 that I stopped. But gold coins can be used for things of value of any currency in any country, which may be needed given my country, and at my level of wealth... read; not much!

that is correct. but you are not sure what value that gold coin will have when you need it. goldbugs always act as if they bought not to sell. they must be all billionaires who never need to sell a single ounce and use the proceeds to pay for something.

[Gary A]

so we buyin or sellin today?

that depends on your preferences. personally i follow the rule "if you ever think of buying stocks/shares, take a deep breath, drink a glass of good booze and then sit patiently in a corner till the attack subsides!"

Khun Naam, that's the best advice that I have read on this board of experts. I got out of the stock market (kind of) before the big crash. I had a feeling that was going to happen. My broker advised me to buy "safe" high dividend paying ETF's. Unfortunately I listened to him. They are still paying good dividends but the share prices are still down on average 35 percent. At least I get some return and since I still have them, I have lost nothing.

[sokal]

so we buyin or sellin today?

that depends on your preferences. personally i follow the rule "if you ever think of buying stocks/shares, take a deep breath, drink a glass of good booze and then sit patiently in a corner till the attack subsides!"

Khun Naam, that's the best advice that I have read on this board of experts. I got out of the stock market (kind of) before the big crash. I had a feeling that was going to happen. My broker advised me to buy "safe" high dividend paying ETF's. Unfortunately I listened to him. They are still paying good dividends but the share prices are still down on average 35 percent. At least I get some return and since I still have them, I have lost nothing.

35% below the high or 35% less the you paid ?

[Gary A]

so we buyin or sellin today?

that depends on your preferences. personally i follow the rule "if you ever think of buying stocks/shares, take a deep breath, drink a glass of good booze and then sit patiently in a corner till the attack subsides!"

Khun Naam, that's the best advice that I have read on this board of experts. I got out of the stock market (kind of) before the big crash. I had a feeling that was going to happen. My broker advised me to buy "safe" high dividend paying ETF's. Unfortunately I listened to him. They are still paying good dividends but the share prices are still down on average 35 percent. At least I get some return and since I still have them, I have lost nothing.

35% below the high or 35% less the you paid ?

That is 35 percent less than I paid. It was worse than that but they have recovered some.