Gold

Prospero · Senior Poster Joined: 01 Mar 2006 Posts: 82

Gold hit my buy level yesterday. There's a nice triangle pattern going back to the $725 peak. The technical breakout has received relatively little attention from the gold gurus, which is promising. Of course, some people have noticed, but there are not too many screaming bulls around that I've noticed (apart from the perma-bulls). The rest, I guess, have been lulled by several months of ponderous action.

I'm betting we'll go up to $725 before there's a serious reaction.

Odysseus · Posted: Tue Aug 12, 2008 11:05 pm Post subject:

Hi Henry,

I love the comment from Jimmy Grant about Gold. He called it 'the value investors guilty pleasure.' That boy can turn a phrase.

Personally I don't trade stocks, commodities or bonds. I trade only prices and it is good to know that the price of the barbaric relic may be getting close to an inflection point once again.

My preferred toy is PMPIX. FD- no position yet.

Gold was the last to roll-over. My beloved stuff stocks are getting close to fire sale prices. I own the stuff I hate (long market ETF's) but get all tingly when metals, ag and energy go into free fall. I feel like my wife at a Nordstrums 50% off shoe sale. Actually she shops at Steinmart. Big Dif.

The defination of a Spenglarian Pirate. 'One who intervenes amongst the enterveeners and gambles with money as a ware.' I guess I be one.

I hate gold. It pays no interest. Gold is not a colour but a luster. I may soon lust after that luster.

Sorry, wrong thread but my bride (of 37 yrs) is downstairs watching the Peking Olympics. What a hoot! An international panem et circeces. Amateur? athletes at their best. Paid from whatever government larder or sponsered by overpriced jock strap sellers. The last truely amateur athlete was Al Oeter, one of my boyhood heros.

No offense to China, but a REAL country would shun that staged media
event like the plague. Maybe they can recycle the metal stadium. To pay that price for some measure of legitamacy to me is demeaning.

Thanks for the update from BCA. I have always paid attention to their work. Often wrong but objective and thourogh. (SP)
The PM's are wares to we Western financiers. Other civilazitions cherish them for an historical, cultural bias. So, they have our dollar/digits and may buy what they wish.

Regards,
Bad speller person
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HenryTo · Posted: Tue Aug 12, 2008 2:54 pm Post subject:

BCA getting more bullish on gold:

http://www.bankcreditanalyst.com/public/story.asp?pre=PRE-20080812.GIF

rffrydr · Posted: Fri Jul 18, 2008 11:52 am Post subject:

Inflation hedge?

http://www.ft.com/cms/s/0/7775ec54-51fb-11dd-a97c-000077b07658.html
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rffrydr · Posted: Sat Apr 12, 2008 11:01 pm Post subject:

Gold measured in houses:

rffrydr · Posted: Thu Apr 03, 2008 8:31 pm Post subject:

A few words from an old silver baron marks the divide between hard and paper currency in a way you might not expect:

http://financialsense.com/editorials/morgan/2008/0403.html
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emergingwave · Posted: Wed Apr 02, 2008 7:44 am Post subject:

Is this an April Fool's joke?

http://www.investmentpostcards.com/2008/04/02/a-1-million-wager-for-gold-bears/

rffrydr · Posted: Tue Apr 01, 2008 9:44 am Post subject:

Run it with the HUI. Bugs leading the bugging.

http://online.wsj.com/public/quotes/etf_charting.html?issue_type=ETF&&chartingPage=dynamic&symbol=gsg&Symb=gsg
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rffrydr · Posted: Tue Apr 01, 2008 6:52 am Post subject:

I'm looking at the Jrs. and drawing an opposite conclusion.

Global inflation

Published: March 28 2008 09:37 | Last updated: March 28 2008 14:26

The gold bugs have gone berserk and there is dark talk of central banks “printing money”. But the inconvenient truth is inflation in developed countries has not really gone up yet. Using consumer prices for the US, eurozone, Japan and the UK, weighted by output, inflation was 3.3 per cent year-on-year in February. That is only just above mid-2005 – and no one worried about replacing wallets with wheelbarrows then. Add on Brazil, Russia, India and China – the Bric nations – so that three-quarters of world output is included, and inflation was 4.1 per cent in February. That is a long, long way from the mid-teen levels seen as recently as the mid-1990s.

The main threat is from emerging economies. There, inflation indices are now too high, reflecting heavy weightings towards food and energy, where prices have soared. Bric inflation hit 8 per cent year-on-year last month, double the level at the start of 2007. State policy is partly to blame. Short-term real interest rates are negative in Russia and China, while the latter’s currency peg is unhelpful. But prices also reflect structural shortages. In physical commodities it will take time for capital investment to bring new supply on line. Meanwhile, it is conceivable that some foods might run out: this week China, India, Egypt and Vietnam restricted rice exports to boost domestic supply.
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rffrydr · Posted: Mon Mar 31, 2008 7:59 pm Post subject:

I think Newmont's high was back in '03--at roughly $400 gold. This from another bug:

Wisdom From a Young Alan Greenspan

“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all their bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”

– “Gold and Economic Freedom” – 1966 by Dr. Alan Greenspan

http://financialsense.com/Market/wrapup.htm
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rffrydr · Posted: Mon Mar 31, 2008 3:13 pm Post subject:

Someone forgot to tell Jr. about the rally:

http://financialsense.com/metals/FSJG/2008/0331.html
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rffrydr · Posted: Fri Feb 01, 2008 12:04 am Post subject:

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Today is the Tomorrow you worried about Yesterday!

rffrydr · Posted: Wed Jan 30, 2008 8:24 am Post subject:

They've "developed."
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HenryTo · Posted: Wed Jan 30, 2008 2:08 am Post subject:

http://www.theaustralian.news.com.au/story/0,25197,23125587-23850,00.html

reidbrownfield · Senior Poster Joined: 13 Jun 2005 Posts: 105

I got out of gold yesterday. I figured a 50% profit was good enough.

It may very well hit 1000. Maybe I should have held. Who ever knows.

Reid

rffrydr · Posted: Fri Jan 25, 2008 11:02 am Post subject:

Gold is up disproportionately to its status mainly on SA mine closure. Assuming my naked emini call will be excercised have doubled up this morning.

The green light for commodity buying was given yesterday as global equity markets and risk seekers discovered that Monday’s risk aversion episode was fueled by losses at Societe Generale rather than genuine evidence of global recession. As a result, traders moved back to beliefs held in late 2007 that Chinese and Indian economic growth will never slow, weakness in the dollar will never end, and that gold prices of over $1,000/oz will not hurt physical demand.

Risks are quick move to 1420 in SP with FXI support and european hawkishness. With the dramatic pullout of the 2yr that same rational, limiting next week's Fed action, could and should work in reverse.
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Today is the Tomorrow you worried about Yesterday!