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diesel
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Joined: 05 Oct 2006
Posts: 793
Location: Australia & New Zealand
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 Posted: Sun Apr 29, 2007 7:35 pm Post subject: |
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You trying to upset the gold bugs again rffrydr? What happened to TECHNO btw?
For all the arguments of the gold bugs I have to admit Henry's thinking on the issue seems a lot more compelling to me, but then again what would I know.
Sold my long Dow futures by the way bringing me back to 100% long from 300% long. Couldnt keep my hand of the till. Not strong enough psychologically to hold a position like that anymore. Or maybe I am not dumb enough anymore? Time will tell I guess.... |
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Sun Apr 29, 2007 6:23 pm Post subject: |
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You Bugs ever look into what a pain-in-the-ass it is to actually own the stuff?:
http://www.goldpricenews.com/ix_investor_presentation
Check out the "faqs"
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Thu Apr 26, 2007 8:03 am Post subject: |
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The ultimate inflation hedge is raked over the coals of inflation:
| Quote: | The Company continues to expect costs applicable to sales of
approximately $375-$400 per ounce, provided that third party and internal
initiatives mitigate the current oxide and transitional ore issues at
Phoenix. Unit costs during the first quarter of 2007 were above the
expected range as a result of higher cost production and lower by-product
credits at Phoenix, as well as continued deployment of higher cost
contracted underground and maintenance services. Contractor expenses are
expected to decrease as Newmont employees are deployed for the remainder of
the year. Ongoing challenges at Phoenix could result in costs applicable to
sales per ounce above the expected range for the year. Potentially higher
grades, improving throughput and increased recoveries at Leeville and Twin
Creeks could provide cost reduction opportunities for the remainder of
2007. |
Newmont Mining quarterly.
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rffrydr
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Location: Sunny California
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Wed Apr 04, 2007 9:20 am Post subject: |
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Not your father's gold--spikes on RELIEF of global tensions.
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Sun Apr 01, 2007 8:42 am Post subject: |
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Simmons, Real Money Feb '07
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Thu Mar 29, 2007 8:04 pm Post subject: |
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Mauldin's March 26 Boxletter features Weldononline's outlook for liquidity growth this year and an unabashed unabated embrace of the shiny stuff.
Worth reading for it's merits but proving once again any bears still around are mostly bulls--on gold.
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rffrydr
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Location: Sunny California
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| Posted: Thu Mar 29, 2007 10:51 am Post subject: |
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[quote="dash"] | Quote: |
I've never understood how to put a value on gold. It doesn't pay a dividend or a yield, doesn't produce a cash flow and isn't really consumed or used (except in a marginal sense for jewelry etc), unlike many other commodities.
In essense by buying or shorting gold we can only hope for a higher buyer or a lower seller. Isn't that the definition of a ponzi scheme? |
I don't think ponzi schemes extend back gernerations. Usually on the short side of a respectable asset bubble. "Full Faith and Credit...." now that's a different story.
So, a ponzi scheme for those loosing with no faith in ponzi schemes?! Sadly I've had to adjust my application of that word.
After you read note the date:
http://www.investmentrarities.com/05-17-05.html
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Prospero
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Joined: 01 Mar 2006
Posts: 82
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| Posted: Tue Mar 06, 2007 10:41 pm Post subject: |
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It turns out that my loss was someone else's opportunity 
I was stopped out on Friday.
Still, I'm seriously considering getting back in soon. I'd like to see a COT report first though, and maybe some initiative from the XAU and HUI. |
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dash
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Joined: 12 Apr 2005
Posts: 488
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| Posted: Wed Feb 21, 2007 10:34 pm Post subject: |
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| Quote: | | I'm no goldbug, but I do think it brings opportunity, be it from the long side or the short side |
I've never understood how to put a value on gold. It doesn't pay a dividend or a yield, doesn't produce a cash flow and isn't really consumed or used (except in a marginal sense for jewelry etc), unlike many other commodities.
In essense by buying or shorting gold we can only hope for a higher buyer or a lower seller. Isn't that the definition of a ponzi scheme? |
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rffrydr
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Prospero
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Joined: 01 Mar 2006
Posts: 82
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| Posted: Wed Feb 21, 2007 8:20 pm Post subject: |
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Well relative to the normal pace a 3% move was reasonably significant I think. But I suppose my main point was that gold deserves a bit more attention than it has been getting. I'm no goldbug, but I do think it brings opportunity, be it from the long side or the short side  |
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nodoodahs
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Joined: 06 May 2005
Posts: 2408
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| Posted: Wed Feb 21, 2007 7:58 pm Post subject: |
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Large numbers look deceptive without perspective. A 3% move on the basis, following two down days.
How many stocks made bigger up moves today?
How many stocks have topped their May 2006 highs?
I find it hard to be a believer in gold right now - and keep in mind I was an owner of NXG from May 2005 to summer 2006, so it's not like it's a psychological thing against gold per se, I think the run is done and this is the end game.
I could be wrong, and I wish you the best if you're long gold.
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Prospero
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Joined: 01 Mar 2006
Posts: 82
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| Posted: Wed Feb 21, 2007 6:21 pm Post subject: |
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Feel obliged to draw attention to what was a really chunky move in gold today. I can't quite believe it was all about the inflation number - perhaps it had something to do with the perception that the carry trade will continue. Also, on bloomberg they mentioned that such a small decline in open interest after yesterday's tumble might have looked rather bullish to traders.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aRw.yu9e2hYQ&refer=commodities
Anyway, the technicals look very strong and the fundamentals seem to be following. I hope I don't eat my words... |
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rffrydr
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Joined: 30 Oct 2005
Posts: 16932
Location: Sunny California
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| Posted: Fri Feb 02, 2007 10:27 am Post subject: |
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Silver never got out of it's triangle--it likes to trade in triangles. Gonna take weakness to get out of that.
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