Where Is Gold Going In This Market

[Naam]

Hey Naam dont let the missus see this one

she saw it already in a german magazine

[sokal]

Hey Naam dont let the missus see this one

That would be one hard to hide coin

Colossal Canadian gold coin going up for auction

Eric Sprott owns one of them.

[churchill]

Central Banks want to diversify their reserves , reducing exposure to USD and Euro but where can they go ?

Russia to Buy Canadian, Aussie Dollars for First Time

Russia to Buy Canadian, Aussie Dollars for First Time (Update2) - BusinessWeek

Gold’s 30% Surge Puzzles Bernanke, Not This Guy: William Pesek

"A question here is what central banks do. Many are sitting on too many dollars for comfort and upping gold reserves may be the diversification move of choice.

“I believe the biggest customer base will be Asia,” says Santer. “And if Ben Bernanke doesn’t see why then we have even more reason to worry about the global economy.”

Gold Grab

South Korea, for example, is the 15th biggest economy and gold accounts for just 0.2 percent of its total reserves. If markets remain volatile and the dollar gyrates, it may be among the Asian nations that move to buy more of the metal.

In November, India surprised markets with a $6.7 billion purchase from the International Monetary Fund’s bullion stash. India’s gold grab was the vanguard of central banks more aggressively diversifying reserves away from U.S. assets.

It’s not what the Greenspans of the world envisioned 15 years ago. Back then, warehousing gold bars seemed a bit retrograde. Central banks had gotten so good at whipping inflation that paper money was just fine. Fort Knox was no longer needed.

The post-Lehman world is dispelling such notions and we may be on the cusp of history’s greatest gold rush. Bernanke and his peers would be wise to contemplate why."

Gold’s 30% Surge Puzzles Bernanke, Not This Guy: William Pesek - BusinessWeek

[churchill]

Gold rush to begin once again in India

"Indian equity markets are showing signs of higher volatility and hinting at consolidation from its current levels primarily on the back of overseas economic concerns, the gold prices are once again believed to scale up to make newer highs in near future.

According to analysts, India’s gold demand will shoot up primarily on the back of weakening of equity markets. As the infrastructure growth is seen dampening and demand of key inputs like metals, started contracting and the safe haven demand for gold is seen rising further from its current levels.

An estimate by the gold market analyst in India stated that gold prices may touch a record level of Rs.20,000 per 10 grams in the near future.

“Because of uncertainties in the Eurozone, investors are shifting their portfolios to safe havens like gold. Stock markets have been choppy in recent times as people are pulling out money and these funds are coming in gold. For the next 15 days, gold prices will be in the range of Rs 18,000-19,000 per 10 grams," SMC Global vice president Rajesh Jain was quoted by the media.

It is further believed that the sustained weakness in the Eurozone will bring in fresh fears of return on investments and once again the gold prices will head towards north, hitting up to Rs 20,000 in the near term. "

continued Gold rush to begin once again in India | 15 June 2010 | www.commodityonline.com

[Naam]

Gold rush to begin once again in India

"Indian equity markets are showing signs of higher volatility and hinting at consolidation from its current levels primarily on the back of overseas economic concerns, the gold prices are once again believed to scale up to make newer highs in near future.

According to analysts, India’s gold demand will shoot up primarily on the back of weakening of equity markets. As the infrastructure growth is seen dampening and demand of key inputs like metals, started contracting and the safe haven demand for gold is seen rising further from its current levels.

An estimate by the gold market analyst in India stated that gold prices may touch a record level of Rs.20,000 per 10 grams in the near future.

“Because of uncertainties in the Eurozone, investors are shifting their portfolios to safe havens like gold. Stock markets have been choppy in recent times as people are pulling out money and these funds are coming in gold. For the next 15 days, gold prices will be in the range of Rs 18,000-19,000 per 10 grams," SMC Global vice president Rajesh Jain was quoted by the media.

It is further believed that the sustained weakness in the Eurozone will bring in fresh fears of return on investments and once again the gold prices will head towards north, hitting up to Rs 20,000 in the near term. "

continued Gold rush to begin once again in India | 15 June 2010 | www.commodityonline.com

[churchill]

Gold rush to begin once again in India

"Indian equity markets are showing signs of higher volatility and hinting at consolidation from its current levels primarily on the back of overseas economic concerns, the gold prices are once again believed to scale up to make newer highs in near future.

According to analysts, Indias gold demand will shoot up primarily on the back of weakening of equity markets. As the infrastructure growth is seen dampening and demand of key inputs like metals, started contracting and the safe haven demand for gold is seen rising further from its current levels.

An estimate by the gold market analyst in India stated that gold prices may touch a record level of Rs.20,000 per 10 grams in the near future.

Because of uncertainties in the Eurozone, investors are shifting their portfolios to safe havens like gold. Stock markets have been choppy in recent times as people are pulling out money and these funds are coming in gold. For the next 15 days, gold prices will be in the range of Rs 18,000-19,000 per 10 grams," SMC Global vice president Rajesh Jain was quoted by the media.

It is further believed that the sustained weakness in the Eurozone will bring in fresh fears of return on investments and once again the gold prices will head towards north, hitting up to Rs 20,000 in the near term. "

continued Gold rush to begin once again in India | 15 June 2010 | www.commodityonline.com

Because of uncertainties in the Eurozone, investors are shifting their portfolios to safe havens like gold. Stock markets have been choppy in recent times as people are pulling out money and these funds are coming in gold. For the next 15 days, gold prices will be in the range of Rs 18,000-19,000 per 10 grams," SMC Global vice president Rajesh Jain was quoted by the media. "

I suppose any investor is just trying to get ahead of the curve - and information like this may or may not give somebody an edge -

Just like some time ago I raised the opinion that the IMF may get involved in the Euro crisis /

Edited June 16, 2010 by churchill

[cloudhopper]

Morning Gold Fix: June 16, 2010 | zero hedge

[flying]

Morning Gold Fix: June 16, 2010 | zero hedge

As always the comments after that article were great

[cloudhopper]

Here's another interesting one-

http://www.zerohedge.com/article/mr-denninger-and-gold-–-part-deux-or-rebuttal-all-fiat-money-apologists

[churchill]

JPMorgan Explains Why Gold Is A Great Bet During Deflation

Read more: JPMorgan Explains Why Gold Is A Great Bet During Deflation

[teletiger]

Anyone seen Turkey's missing 64 tons of gold bullion?

CHP'li Hamzaçebi: 64 ton altýn nerde - Hürriyet

"Akif Hamzaçebi CHP group vice president, "Being Peace Act arrived in Turkey reported that 64 tons of gold does not appear in the records of relevant public institutions," he said."

Google translator alert. They mention "the minister of thunder". Thatcher's old handle.

Regards.

[flying]

Looks like another new high for gold...

Ms. Naam will be strutting

Very decent day for silver too.

[Naam]

Looks like another new high for gold... Ms. Naam will be strutting Very decent day for silver too.

she has been strutting already ad nauseam yesterday (your today) till i went to bed. her gold YTD performance is 13.96% vs. my YTD of 16.61%. with a bit of luck she might beat me by the end of this month.

[flying]

she has been strutting already ad nauseam yesterday (your today) till i went to bed. her gold YTD performance is 13.96% vs. my YTD of 16.61%. with a bit of luck she might beat me by the end of this month.

heheh well congrats to her & good luck to you...I am hoping you will need it

[churchill]

Looks like another new high for gold...

Yes - but I think there are still a lot of gold bulls on the sidelines who have been convinced there is going to be a market crash and therefore a correction in Gold down to the $1000 ish level - This may still happen but there are a lot of people who believe they must still buy gold to protect their assets sitting on the sidelines /

The golden wall of worry

Gold timers skeptical of new high -- a good sign MarketWatch First Take - MarketWatch

and Central Banks seem to be increasingly adding to their gold holdings

IMF Sells 38.5 Tonnes Of Gold In Q2, As Saudi Holdings Higher By 180 Tonnes | zero hedge

Edited June 19, 2010 by churchill

[churchill]

Medvedev Pushes Ruble Reserve Currency to Cut Dollar Dominance - Bloomberg.com

and

The renminbi takes small step towards reserve status | Beyond Brics | FT.com

With the USD and EURO in tatters what is the next plan - Where will the central banks of the world want to put their cash to protect their countries wealth ?

Edited June 19, 2010 by churchill

[jazzbo]

I am just finishing up 3 weeks in the USA and have been watching a lot of FOX News Channel. Ads for "Investing in Gold" companies -- such as Goldline.com -- have become to FNC what acne cream ads are to MTV... Sally Field for Osteoporosis; G. Gordon Liddy for gold.

[flying]

Yes - but I think there are still a lot of gold bulls on the sidelines who have been convinced there is going to be a market crash and therefore a correction in Gold down to the $1000 ish level - This may still happen but there are a lot of people who believe they must still buy gold to protect their assets sitting on the sidelines /

The golden wall of worry

and Central Banks seem to be increasingly adding to their gold holdings

Yes that 1045 awhile back was definitely a time for those who had none yet. I think the pensions are just starting to dip their toes. Anything is possible up or down but if the pensions & other large funds feel the need it could change quickly.

In any case I said sometime ago that July would be 1350 time.

Gold & Silver Manipulation - Thailand Forum - Page 4

We will see

[churchill]

Looks like another new high for gold... Ms. Naam will be strutting Very decent day for silver too.

she has been strutting already ad nauseam yesterday (your today) till i went to bed. her gold YTD performance is 13.96% vs. my YTD of 16.61%. with a bit of luck she might beat me by the end of this month.

She could deposit some in a Vietnamese Bank and get 4.5% interest "Gold is effectively a parallel currency, says Scott Robertson, a senior economist with Dragon Capital in Ho Chi Minh. "It is a form of savings, people transact in it and it earns interest on deposit," he says.

Many Vietnamese banks were offering 4.5 per cent interest by weight on gold deposits last year, 300 basis points above the rate they were offering for dollar deposits, and banks took in some $3 billion worth of gold deposits in 2009, more than double what they held the previous year"

Gold not a currency and doesn't pay interest? In Vietnam it is and does

Gold not a currency and doesn't pay interest? In Vietnam it is and does | Gold Anti-Trust Action Committee

[cloudhopper]

I have always thought that the multitude of gold shops throughout LOS and the ease with which it is traded made gold a parallel currency here too. It seems to me that a hyperinflation of Baht might be more difficult than some others, and it could turn out to be a fairly strong currency if the ECB and Fed decide to try the mother of all monetary easings.

[phomsanuk]

Gold is going down?

6 mo & 1 yr also positive.

I had the dubious pleasure of buying at the 80's peak and after storing for 10+ yrs sold at rhe bottom.

This time may be different just like your bar girl

[lannarebirth]

I have always thought that the multitude of gold shops throughout LOS and the ease with which it is traded made gold a parallel currency here too. It seems to me that a hyperinflation of Baht might be more difficult than some others, and it could turn out to be a fairly strong currency if the ECB and Fed decide to try the mother of all monetary easings.

Gold has always been a store of value for the extra poor. whether it be in Thailand, Lao, Bangla Desh or Lagos. Most people who can earn money seek a return on investment rather than a speculative appreciation, although speculation has its place. Absolutely no one on the face of this earth* would buy Gold if they could instead create an inflation proof income stream.

Speculators, Gold Bugs and Jewelers excepted.

Edited June 20, 2010 by lannarebirth

[cloudhopper]

Absolutely no one on the face of this earth* would buy Gold if they could instead create an inflation proof income stream.

Hence they buy gold.

[Naam]

Absolutely no one on the face of this earth* would buy Gold if they could instead create an inflation proof income stream.

Hence they buy gold.

C-Hopper,

did gold provide an inflation proof income since you, i and most of the other retirees made our first "real" money and started investing? did gold -during that same period- keep its value adjusted for inflation?

nota bene: my two questions are directed at Cloudhopper. no need for smartàsses to jump in and claim they bought gold galore some years ago at its 20 year low and now they derive an inflation proof income stream to pay for their living expenses by cutting every month a few ounces from their huge stash of 12.5 kilo bars

[Naam]

Gold is going down?

6 mo & 1 yr also positive.

I had the dubious pleasure of buying at the 80's peak and after storing for 10+ yrs sold at rhe bottom.

This time may be different just like your bar girl

words from an obviously honest man!

[Naam]

Looks like another new high for gold... Ms. Naam will be strutting Very decent day for silver too.

she has been strutting already ad nauseam yesterday (your today) till i went to bed. her gold YTD performance is 13.96% vs. my YTD of 16.61%. with a bit of luck she might beat me by the end of this month.

She could deposit some in a Vietnamese Bank and get 4.5% interest.

and in a year she might be told "your gold? what gold?"

[sokal]

Gold is going down?

6 mo & 1 yr also positive.

I had the dubious pleasure of buying at the 80's peak and after storing for 10+ yrs sold at rhe bottom.

This time may be different just like your bar girl

words from an obviously honest man!

And Phomsanuk is probably making the exact same mistake right now by buying US treasury's at the peak:D.

[sokal]

I have always thought that the multitude of gold shops throughout LOS and the ease with which it is traded made gold a parallel currency here too. It seems to me that a hyperinflation of Baht might be more difficult than some others, and it could turn out to be a fairly strong currency if the ECB and Fed decide to try the mother of all monetary easings.

Gold has always been a store of value for the extra poor. whether it be in Thailand, Lao, Bangla Desh or Lagos. Most people who can earn money seek a return on investment rather than a speculative appreciation, although speculation has its place. Absolutely no one on the face of this earth* would buy Gold if they could instead create an inflation proof income stream.

Speculators, Gold Bugs and Jewelers excepted.

Are you aware that you can lend out gold at interest ? That is how banking was invented you know.

[sokal]

Gold is going down?

6 mo & 1 yr also positive.

I had the dubious pleasure of buying at the 80's peak and after storing for 10+ yrs sold at rhe bottom.

This time may be different just like your bar girl

It was different for the guy that bought in the 60's and sold to you in the 80's.

[cloudhopper]

C-Hopper,

did gold provide an inflation proof income since you, i and most of the other retirees made our first "real" money and started investing? did gold -during that same period- keep its value adjusted for inflation?

nota bene: my two questions are directed at Cloudhopper. no need for smartàsses to jump in and claim they bought gold galore some years ago at its 20 year low and now they derive an inflation proof income stream to pay for their living expenses by cutting every month a few ounces from their huge stash of 12.5 kilo bars

Hi well when I was working for a living I bought and held stocks and bonds like most chumps and it worked pretty well until I got out. I have only been buying bullion for the last 15 years or so and in that time period it has done OK.

I see that I missed the word "income" in this discussion though and I agree that hoarding gold cannot provide a sustained income stream (unless one wants to take the risk of loaning it for interest). I would also assert however that there is NO way to create an income stream free of all inflation risk. Not to mention other types of risk and IMO privately held gold is unsurpassed as a store of accumulated surplus capital against risk of hyperinflation, currency crisis, capital controls, taxation/confiscation by governments etc. I personally regard these risks as high and growing for the USD that my income and financial wealth are nominally denominated in. Although I presently have a "guaranteed" tax free income it could all go away tomorrow if the corrupt US government continues down the path it's on. Gold is simply an insurance policy that feels good for risk-averse me, who would have had a bomb shelter in the back yard during the cold war had I not been in elementary school at the time...