Where Is Gold Going In This Market

[Naam]

"This world monetary earthquake will carry many lessons."

"*Cautionary notes: We count everything including actual intervention, de facto intervention via such measures as quantitative easing, suspected intervention and talk of intervention."

we also count and evaluate the results when we poke our noses and ears or scratch our backsides and we include any de facto or suspected attempt or talk of us poking our noses.

you want results Naam how, in what way and vs. what currency the mentioned currencies were slashed? who do you think we are? lackeys doing your homework? we don't have time to answer your stupid questions. conduct your own research! presently we are preparing the next bullsh... which we hope our good friend Churchill will spread. and mind you Naam... slashed... earthquake... doom... apocalypse... plague and pestilence!

evidence:

-Romanian Leu intervention

-PNG headhunters threaten to lower prices of shrinkheads

-Ukrainian Hryvnia intervention

-suspected intervention of Penguin Dollars in argentine province Patagonia

-feared intervention Thai Baht

[neverdie]

-PNG headhunters threaten to lower prices of shrinkheads

[churchill]

"This world monetary earthquake will carry many lessons."

"*Cautionary notes: We count everything including actual intervention, de facto intervention via such measures as quantitative easing, suspected intervention and talk of intervention."

we also count and evaluate the results when we poke our noses and ears or scratch our backsides and we include any de facto or suspected attempt or talk of us poking our noses.

you want results Naam how, in what way and vs. what currency the mentioned currencies were slashed? who do you think we are? lackeys doing your homework? we don't have time to answer your stupid questions. conduct your own research! presently we are preparing the next bullsh... which we hope our good friend Churchill will spread. and mind you Naam... slashed... earthquake... doom... apocalypse... plague and pestilence!

evidence:

-Romanian Leu intervention

-PNG headhunters threaten to lower prices of shrinkheads

-Ukrainian Hryvnia intervention

-suspected intervention of Penguin Dollars in argentine province Patagonia

-feared intervention Thai Baht

You're right "what currency the mentioned currencies were slashed?" None - because whatever they do they cannot beat the Fed printing and devaluing the USD

Currency Wars - The fed is in control

So are we on a one way track / Markets / commodities Up -USD down , GBP down , Yen down / Euro ? , Asian Currencies up , PM's Up

[teletiger]

"The Fed is in control"....

Bloomberg reports "China to increase it's gold reserves......gold hits new record $1374.

"Hey Ben....skin this".

Regards.

Edited October 13, 2010 by teletiger

[Naam]

You're right "what currency the mentioned currencies were slashed?" None - because whatever they do they cannot beat the Fed printing and devaluing the USD

Currency Wars - The fed is in control

So are we on a one way track / Markets / commodities Up -USD down , GBP down , Yen down / Euro ? , Asian Currencies up , PM's Up

thanks Churchill. i hate doing homework for others but in this case i could have (with a lot of work involved) cut the alphaville ignorants into 9789 little pieces. their output is worse than any output of the yellow press and it beats even the sensationalist excrements of Dyler Turd (pun intended)

[cloudhopper]

http://www.ft.com/cms/s/0/fe45eeb2-d644-11df-81f0-00144feabdc0.html

[Abrak]

You're right "what currency the mentioned currencies were slashed?" None - because whatever they do they cannot beat the Fed printing and devaluing the USD

Currency Wars - The fed is in control

So are we on a one way track / Markets / commodities Up -USD down , GBP down , Yen down / Euro ? , Asian Currencies up , PM's Up

I do think you underestimate the challenge of devaluing the dollar. Bernanke is quite smart and he has made a very determined effort to destroy the dollar.

The fundamental problem is two fold (1) as the central reserve people keep on buying it to meet future dollar liabilities and (2) much of the US fundamental weaknesses are balanced by the strengths of countries who are largely pegged to the dollar (say China). Bernanke has to devalue the dollar and the Yuan at the same time. It is difficult to devalue your currency if it is pegged to a very undervalued one. And look imagine you were Thailand with a trade surplus, no significant fiscal deficit and your currency was stable against the US which is a disaster run by a very determine person who wishes to devalue the currency. Would you spend US$70bn trying to bet against a baht appreciation.

[LivinLOS]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

What was obvious at 400 an Oz.. Was obvious at 800 an Oz.. And is still obvious now.. Nations in debt printing money to try to devalue their obligations..

Will we see Silver 30 in 12 months ?? Or back sub 20 ?? Thats a whipsawing one.

[flying]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

What was obvious at 400 an Oz.. Was obvious at 800 an Oz.. And is still obvious now.. Nations in debt printing money to try to devalue their obligations..

Will we see Silver 30 in 12 months ?? Or back sub 20 ?? Thats a whipsawing one.

I tend to think it will continue to do very well as it already has.

But it will also be more volatile in the process.

[flying]

whoosh gold & silver currently on another tear in Asia/Euro Markets

[Naam]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

Will we see Silver 30 in 12 months ?? Or back sub 20 ?? Thats a whipsawing one.

I tend to think it will continue to do very well as it already has. But it will also be more volatile in the process.

silver/gold ratio has nicely improved, by the way, Mrs Naam does not understand why my goldmine beats her physical gold by several lengths percentagewise by a factor of 8.5

Edited October 14, 2010 by Naam

[Lost in LOS]

excuse me while I count my gold and silver profits

a friend in Hawaii, 5 year ago told me to keep buying gold, he was buying everything he could and it was about 600 then. I waited till it was 825 and again at 925 and I was called lots of names everywhere but stupid was real high on the lists. It was a risk and I may not know sh*t but I can tell when the world and especially America is crashing, so it seemed like a real good idea. I have an 875 average now and looking good

All those that called me names want to buy me coffee now.

I am buying some more at this price, America is writing checks it cant cash, and I need something to make up for this dismal exchange rate

[churchill]

It's not possible for Gold to keep on rising whatever happens / or is it ?

Gold futures rise to highs near $1,390 on Globex

"The U.S. dollar’s decline against currency rivals helped drive investors to gold as a safer store of value.

The dollar index, a measure of the U.S. unit against a basket of six major currencies, slipped to 76.521 from 77.061 late Wednesday. See Thursday’s currencies column.

“The irony is that investors seems to be buying gold on fears of both inflation and deflation as well as when the U.S. dollar is rising and falling,” analysts at Deutsche Bank said in a note to clients Thursday. “This is naturally raising concerns that the move in the gold price threatens to become increasingly irrational.”

But gold “seems a safe one-way trade since quantitative easing will tend to accelerate U.S. dollar weakness while any QE action that falls short of expectations would tend to raise risk aversion, strengthen the U.S. dollar and encourage inflows into physically backed gold [exchange-traded funds],” which is what happened in the second quarter of this year, they said. "

http://www.marketwatch.com/story/gold-futures-rise-to-highs-near-1390-on-globex-2010-10-14

[Abrak]

silver/gold ratio has nicely improved, by the way, Mrs Naam does not understand why my goldmine beats her physical gold by several lengths percentage wise by a factor of 8.5

To be honest silver has been a bit disappointing until recently. It has been sliding since I was a young buck. It peaked in 1477 at about US$1000 an ounce at todays prices.

Mind you I knew all that stuff about not touching equities was a sham.

I dont know if anyone has noticed but 5 year TIPs now have a negative real yield of 0.56% and 10 year TIPs are just +0.36% and as many people think that the CPI number that their nominal returns are based on understates inflation, perceived real rates could be even lower.

[churchill]

Currency wars – ‘The crisis is upon us’

'The rift between Japan and Korea which has spilt into the open in the past 24 hours, with a Japan minister protesting Korea’s currency policy, only to be rebuffed by the BoK governor, is significant for the rifts that are opening up WITHIN Asia. While Japan knows that it cannot realistically compete with China, it is clearly not going to let South Korea, with whom it competes in electronics, autos, shipping and heavy industry, carry on with the by now very blatant attempt to stifle won gains not only by intervention, but by not raising rates when the case for higher rates in terms of keeping inflation under control is crystal clear (rates currently 2.25% while inflation is firmly entrenched above 3.0%). Keep watching this space, as much as US-China currency tensions.

Today’s USD slide and EUR, GBP, JPY & AUD gains serve to highlight the ever decreasing (or perhaps that should be unvirtuous) circles of FX intervention and reserve diversification, i.e. Asian central bank intervenes (buys USD), then diversifies USD, thereby putting renewed downward pressure on the USD, which in turn forces more intervention. I believe this is known both as ‘chasing your own tail’ and an ‘accident waiting to happen’.

c) Start taking more note of what is going outside of the ostensibly major players: i) Russia widens rouble intervention band – sells it as a step towards inflation targeting – but in truth they are fed up with constant non-RUB flow related interventions, and the instability of their $480 Bln FX reserves ii) Singapore tightens policy, but widens SGD intervention band for the first time since 9/11, eminently expecting more volatility and again probably fed up with intervening. iii) Taiwan regulator suggests foreign investors put up foreign currency as margin for Taiwan stock trades – are they fed up with intervening? '

....http://ftalphaville.ft.com/blog/2010/10/14/370426/currency-wars-the-crisis-is-upon-us/

[churchill]

BIS taking in more gold - who are the counterparties this time?

The Bank of International Settlements hit the headlines earlier this year when it was discovered that its gold holdings had soared, now it appears they are on the increase again

http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=112890&sn=Detail&pid=102055

[LivinLOS]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

Will we see Silver 30 in 12 months ?? Or back sub 20 ?? Thats a whipsawing one.

I tend to think it will continue to do very well as it already has. But it will also be more volatile in the process.

silver/gold ratio has nicely improved, by the way, Mrs Naam does not understand why my goldmine beats her physical gold by several lengths percentagewise by a factor of 8.5

Beats it due to the leverage factor of profits but I found I was better having a spread (like HUI) that stockpicking them.. Too many other factors, mine location, rising input costs, etc etc etc.

Also for leverage the futures or spread betting beats by HUI by many many multiples.

[LivinLOS]

It's not possible for Gold to keep on rising whatever happens / or is it ?

Rising in what ??

Whats gold price in Weimar notes ?? Or in Continentals ?? Or in every one of the unbacked fiat currencies that litter the history books and are now worth precisely zero ?? Its price is infinite in those currencies.

Now if you mean keep rising against other real things ?? Like oz per acre, or oz per barrel of oil, or or or.. Then no, real things nearly always retain some value.

[Chunky1]

i think the eccentric gold bugs actually help gold investors cause they create doubt in the market. bottom line on gold:

-demand from India/china continues to grow. there is a long history of gold ownership in these cultures despite how angry that might make some of you.

-Europe and USA keeps such a large % of their reserves in gold. emerging markets need to emulate this "just in case". you don't see china passing on military weapons because "they probably wont need them"

-there is no visible or easy "currency fix/plaza accord" on the horizon

-there is no visible end to the us trade deficit nor us debt

all the gold haters just give me more pleasure with each daily gain.

[Naam]

all the gold haters just give me more pleasure with each daily gain.

how many gold haters do you know?

[Abrak]

i think the eccentric gold bugs actually help gold investors cause they create doubt in the market. bottom line on gold:

There is absolutely no doubt about that and it is why I dont buy gold.

Because they spread confusion, doubt, conspiracy theories etc. But who knows how eccentric they are? I mean you say that the gold price will go up because there is no end in sight to the US trade deficit. But as this is a certain known statement of fact, you would think it would already be discounted.

The biggest trick of all that these gold bugs play is to pretend they will never, ever sell their gold and simply hoard it forever or until some apocalypse. Anyone who can persuade investors of that is not eccentric but should be at GS.

[lannarebirth]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

Goldman Sachs? It wasn't AJ Cohen by any chance was it ? because she actually delivers (inversely) on her pronouncements.

[Naam]

Beats it due to the leverage factor of profits but I found I was better having a spread (like HUI) that stockpicking them.. Too many other factors, mine location, rising input costs, etc etc etc.

Also for leverage the futures or spread betting beats by HUI by many many multiples.

in my case no leveraging at all involved, and... i hate futures. straight purchase 100k shares of a chinese goldmine end of may. sold it with a fair profit some weeks later (posted in this thread). then changed my mind, thought "what the heck" and bought it back. now i use it as an interesting gauge and comparison with the physical gold of which my wife is in charge, both based on prices of 27. may. for once the "anals" in one of my banks got it right when they recommended three mines who's share price will be exponentially higher if the price of physical gold keeps on increasing.

by the way, the last time i bought some stock was 12 years ago in 1998. kept it for a few months before selling. now i wonder how long i will keep that mining stock. after presently plus 70% i am itching to sell and pocket the profit. performance as of yesterday, EUR based 47%, USD based 68% :jap:

[Naam]

Goldman Sachs has raised its 12-month forecast for gold to $1,650 an ounce, citing expectations for further quantitative easing in the U.S. and prospects for long-term interest rates to continue falling.

Goldman Sachs? It wasn't AJ Cohen by any chance was it ? because she actually delivers (inversely) on her pronouncements.

that this Abby Joseph lady, who is most of the time wrong, is still kicking in the financial world is a miracle

[flying]

straight purchase 100k shares of a chinese goldmine end of may.

after presently plus 70% i am itching to sell and pocket the profit. performance as of yesterday, EUR based 47%, USD based 68% :jap:

Very Nice Congrats!

[Naam]

-demand from India/china continues to grow. there is a long history of gold ownership in these cultures despite how angry that might make some of you.

the only ones who were angry for more than 20 years were the staunch goldbugs who believed in the "long history of gold ownership in these cultures" which did not stop the gold price falling during that period.

next "bottom line" please which might make some of us angry... or chuckling.

[Naam]

straight purchase 100k shares of a chinese goldmine end of may.

after presently plus 70% i am itching to sell and pocket the profit. performance as of yesterday, EUR based 47%, USD based 68% :jap:

Very Nice Congrats!

sell or hold Flying? i can't make up my mind. on the other hand it takes minutes to sell book value during trading time. so there is no real pressure except... nobody ever became poor by realising profits.

[flying]

straight purchase 100k shares of a chinese goldmine end of may.

after presently plus 70% i am itching to sell and pocket the profit. performance as of yesterday, EUR based 47%, USD based 68% :jap:

Very Nice Congrats!

sell or hold Flying? i can't make up my mind. on the other hand it takes minutes to sell book value during trading time. so there is no real pressure except... nobody ever became poor by realising profits.

UP 2 YOU :lol:

Tough one eh?

Like you said realizing profits is never a bad thing & it is not like it is your only investment.

Or you could just take back your initial investment & let the profits ride awhile..

or

or

or

Chok Dee !

[Lost in LOS]

I own a lot of SLV silver stock, it is way up. Should I put a 10% trailing stop loss on it, I keep reading how volatile silver is but so far it just keeps going up daily. Your opinions appreciated. [ I kind of hat stop losses since they triggered and the stock went through the roof, like apple, so I want to be careful this time]

my GLD stock and physical gold I will be keeping a while

Edited October 15, 2010 by Lost in LOS

[Chunky1]

-demand from India/china continues to grow. there is a long history of gold ownership in these cultures despite how angry that might make some of you.

the only ones who were angry for more than 20 years were the staunch goldbugs who believed in the "long history of gold ownership in these cultures" which did not stop the gold price falling during that period.

next "bottom line" please which might make some of us angry... or chuckling.

increase in purchasing power since 1980, no?

India/China demand for gold jewelry exceeds 200 tons/quarter. That is just for Jewelry. 800 tons a year for jewelry alone. Less than 3000 tons is a mined a year.

let's go back in our time machine to 1980 since nothing has changed since then, eh?