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01 Sep 10
11:17
Joined:
Date Joined:
23 Nov 03
soul... 
Here we go, last chance to get on board.
Here we go, last chance to get on board.
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I thought you were telling everybody to sell?
Yes on 19th July I did and it went 1195 to 1156 or so. Did well with a tight stop. "could have a real dump over the next couple of months. After that, I plan to buy a lot more"
If you are not holding physical, then all you are holding is a "promise to redeem" (sound familiar?), because when the music stops on COMEX that 100/1 paper to physical leverage will surely rear it's ugly head.
The paper prize of gold is another scam ponzi scheme. If you are truly interested in gold as a preserver of wealth, then buy physical.
The paper prize of gold is another scam ponzi scheme. If you are truly interested in gold as a preserver of wealth, then buy physical.
no chance it hits 1500 before end of they year
I will be pleasantly surprised if it does
I will be pleasantly surprised if it does
It's definitely worth getting a few bars or coins in.
I bought some BlackRock Gold and General Acc CPGGA on 1 Sep and they are up 4.3% in just a couple of weeks. I also stuck a little in Invesco Perpetual Corporate Bond Acc PPPB. While I am pretty pleased with the 3.6% gain in such a short period, what I sold would have netted me another couple of percent
. (Greedy barsteward 
)
. (Greedy barsteward )
China's gold imports increase 480%
China imported nearly 210 tons of gold between January and October in 2010, an increase of 480 percent over the same period of the previous year, Shen Xiangrong, president of the Shanghai Gold Exchange, said on Dec. 2.
Shen disclosed the figure at the "Fifth China Gold & Precious Metals Summit 2010." He said that the demand for physical gold is currently very strong, which has resulted in record highs in both the gold transaction amount and import volume.
According to data from the Chinese central bank, China's gold consumption in 2009 reached 454 tons, which has surpassed India and ranks first in the world.
In addition, the statistics from the China Gold Association shows that China's gold production has remained first in the world for three consecutive years, with the production reaching about 314 tons in 2009. China surpassed South Africa in 2007 and became the world's largest gold producer.
China imported nearly 210 tons of gold between January and October in 2010, an increase of 480 percent over the same period of the previous year, Shen Xiangrong, president of the Shanghai Gold Exchange, said on Dec. 2.
Shen disclosed the figure at the "Fifth China Gold & Precious Metals Summit 2010." He said that the demand for physical gold is currently very strong, which has resulted in record highs in both the gold transaction amount and import volume.
According to data from the Chinese central bank, China's gold consumption in 2009 reached 454 tons, which has surpassed India and ranks first in the world.
In addition, the statistics from the China Gold Association shows that China's gold production has remained first in the world for three consecutive years, with the production reaching about 314 tons in 2009. China surpassed South Africa in 2007 and became the world's largest gold producer.
Ticking along very nicely
Bought 1 Sep 2010
Bought 1 Sep 2010
| Managed Funds | NAV / Bid | Quantity | Today's % Value Change | Current Value | Total Gain/Loss | |
| BlackRock Gold and General Acc | CPGGA | 1,674.00GBX | 1,470.00 | +1.70% | 24,607.80GBP | 3,219.30GBP |
They are now talking about QE3
Get on board the Gold express train
Choo Choo
Get on board the Gold express train
Choo Choo
5 Reasons to Still Like Gold
Precious metals have become hugely popular with investors over the last couple of years and nothing attracts passion like gold. Whether it’s Glenn Beck talking up the importance of owning the metal on his Fox show or the cash-for-gold shops popping up at retail centers like the Mall of America -- gold seems to be everywhere.
That’s usually a bad sign from an investment perspective. When things are deeply and widely loved, there aren’t too many marginal buyers left to bid up prices. In 2000, it seemed everyone was in tech stocks, just before the sector cratered. In the 1920s, word that shoeshine boys were playing the market prompted some wiser heads to move to the sidelines.
But gold may not be ready for the dustbin just yet, even though it’s going through a ragged phase. Its price is down three of the last five weeks and last week suffered its worst decline on a percentage basis since last July. It has lost 3.8% since hitting a record of $1422.60/oz on the first trading day of 2011.
Is gold’s magical run -- soaring 20% in the last year, 100% since 2007 -- over? As much as the gold haters would like to think so, the shiny yellow stuff may have life in it yet. Goldman Sachs has forecast gold at $1575/oz by the end of this year. And we’re still a long way from gold’s inflation-adjusted high of $2321.62/oz reached in 1980.
Here are five other reasons gold still has more to run:
1. Major central banks want inflation.
Last Friday, Federal Reserve Chief Ben Bernanke told the U.S. Senate that the Fed is “unwaveringly committed” to controlling inflation. Nice words, but actions seem to belie that reality. Gold, as a store of value, attracts followers when inflation rears its ugly head.
There’s no inflation of note yet, but that doesn’t mean the Fed doesn’t want to see some. As more signs of economic recovery emerge, the Fed is in the process of effectively printing money to purchase $600 billion in Treasuries and maintaining its short-term interest rates at near zero. It insists it will complete its bond purchase program on schedule this summer and will keep rates low for an extended period. The market thinks into 2012.
In Europe, the European Central Bank is talking a tougher game, mostly to mollify inflation-phobic Germans. But it, too, has maintained an array of extraordinary programs in a bid to keep the economy moving ahead and deflation at bay.
Along with central banks, the politicians also may want a little inflation. With massive debts and very high fiscal deficits in the U.S., Japan and many European countries, the temptation to “inflate away” those obligations will be very tough to resist. When policymakers really, really want something, they often get it.
2. Major currencies all want to be lower.
President Obama complains about China’s high currency, Japan complains about America’s weak currency and France wants a different reserve currency altogether. On top of that, Brazil complained late last year about “currency wars” in highly charged language aimed almost entirely at the U.S.
Truth is, everyone wants to have a lower currency to help drive their economic recovery. But the U.S., the euro-zone and Japan can’t all go lower together. That doesn’t mean that policymakers won’t still try and make it so.
This race to the bottom raises questions about the value of each fiat currency. And when the value or durability of currency is in question, people reach for gold. The recent currency contretemps is one reason that World Bank Chief Robert Zoellick said global leaders should at least discuss the possibility of gold playing a role in a revised world money system. Up until the early 1970s, the dollar was backed by gold.
3. Central banks are buying gold again.
In the late 1990s and early 2000s, gold became increasingly derided as a barbarous relic with no usefulness. Many central banks began dumping the gold hordes they previously held to back or defend their currencies. Famously, the U.K. sold some 400 tons of its gold just before prices started zooming up again, quadrupling from the U.K.’s sale price.
Today, even with prices so much higher, central banks have rediscovered a taste for gold, primarily in the emerging markets. China and India (both the central bank and individuals) have bought plenty of gold and both are expected to be big buyers in 2011. Analysts believe that the accumulation of gold dovetails with both countries’ view of themselves as emerging powers.
4. Euro-zone crisis is still not resolved.
It has migrated away from the headlines, but the euro-zone crisis is still very much with us. Greece and Ireland have been bailed out, and many expect Portugal will suffer the same fate. Three years ago, the notion of the euro-zone breaking apart didn’t even merit discussion. Now that existential debate is front-and-center.
Most investors believe Greece will have to restructure its debt, and the stringent austerity programs may erode support for the euro in suffering countries such as Spain, Portugal and Ireland. Debate of a “two-speed” euro-zone, and the possibility of a smaller monetary union or bifurcated monetary union, underscore the messiness of the euro-zone problems. Expect flare-ups from euroland to boost gold one or two times this year.
5. We live in a precarious world.
Extremely passionate gold backers have a dark view of the world. This group probably has canned goods, seeds and some bullets in the portfolio. But it doesn’t take a goldbug’s grim forebodings to appreciate that we live in a precarious world that could spark into trouble at unexpected moments.
The goldbugs worry about energy shortages, another banking crisis, terror attacks, failing governments, runaway inflation and anything else that scare the shorts of the average Joe or Jane. As extreme as some godbugs can be, the fact is that we do live in a precarious world. For a growing number of folks, holding a bit of gold is a piece of security, something that will hold its value. Homes used to do that. Gold’s always done that.
Precious metals have become hugely popular with investors over the last couple of years and nothing attracts passion like gold. Whether it’s Glenn Beck talking up the importance of owning the metal on his Fox show or the cash-for-gold shops popping up at retail centers like the Mall of America -- gold seems to be everywhere.
That’s usually a bad sign from an investment perspective. When things are deeply and widely loved, there aren’t too many marginal buyers left to bid up prices. In 2000, it seemed everyone was in tech stocks, just before the sector cratered. In the 1920s, word that shoeshine boys were playing the market prompted some wiser heads to move to the sidelines.
But gold may not be ready for the dustbin just yet, even though it’s going through a ragged phase. Its price is down three of the last five weeks and last week suffered its worst decline on a percentage basis since last July. It has lost 3.8% since hitting a record of $1422.60/oz on the first trading day of 2011.
Is gold’s magical run -- soaring 20% in the last year, 100% since 2007 -- over? As much as the gold haters would like to think so, the shiny yellow stuff may have life in it yet. Goldman Sachs has forecast gold at $1575/oz by the end of this year. And we’re still a long way from gold’s inflation-adjusted high of $2321.62/oz reached in 1980.
Here are five other reasons gold still has more to run:
1. Major central banks want inflation.
Last Friday, Federal Reserve Chief Ben Bernanke told the U.S. Senate that the Fed is “unwaveringly committed” to controlling inflation. Nice words, but actions seem to belie that reality. Gold, as a store of value, attracts followers when inflation rears its ugly head.
There’s no inflation of note yet, but that doesn’t mean the Fed doesn’t want to see some. As more signs of economic recovery emerge, the Fed is in the process of effectively printing money to purchase $600 billion in Treasuries and maintaining its short-term interest rates at near zero. It insists it will complete its bond purchase program on schedule this summer and will keep rates low for an extended period. The market thinks into 2012.
In Europe, the European Central Bank is talking a tougher game, mostly to mollify inflation-phobic Germans. But it, too, has maintained an array of extraordinary programs in a bid to keep the economy moving ahead and deflation at bay.
Along with central banks, the politicians also may want a little inflation. With massive debts and very high fiscal deficits in the U.S., Japan and many European countries, the temptation to “inflate away” those obligations will be very tough to resist. When policymakers really, really want something, they often get it.
2. Major currencies all want to be lower.
President Obama complains about China’s high currency, Japan complains about America’s weak currency and France wants a different reserve currency altogether. On top of that, Brazil complained late last year about “currency wars” in highly charged language aimed almost entirely at the U.S.
Truth is, everyone wants to have a lower currency to help drive their economic recovery. But the U.S., the euro-zone and Japan can’t all go lower together. That doesn’t mean that policymakers won’t still try and make it so.
This race to the bottom raises questions about the value of each fiat currency. And when the value or durability of currency is in question, people reach for gold. The recent currency contretemps is one reason that World Bank Chief Robert Zoellick said global leaders should at least discuss the possibility of gold playing a role in a revised world money system. Up until the early 1970s, the dollar was backed by gold.
3. Central banks are buying gold again.
In the late 1990s and early 2000s, gold became increasingly derided as a barbarous relic with no usefulness. Many central banks began dumping the gold hordes they previously held to back or defend their currencies. Famously, the U.K. sold some 400 tons of its gold just before prices started zooming up again, quadrupling from the U.K.’s sale price.
Today, even with prices so much higher, central banks have rediscovered a taste for gold, primarily in the emerging markets. China and India (both the central bank and individuals) have bought plenty of gold and both are expected to be big buyers in 2011. Analysts believe that the accumulation of gold dovetails with both countries’ view of themselves as emerging powers.
4. Euro-zone crisis is still not resolved.
It has migrated away from the headlines, but the euro-zone crisis is still very much with us. Greece and Ireland have been bailed out, and many expect Portugal will suffer the same fate. Three years ago, the notion of the euro-zone breaking apart didn’t even merit discussion. Now that existential debate is front-and-center.
Most investors believe Greece will have to restructure its debt, and the stringent austerity programs may erode support for the euro in suffering countries such as Spain, Portugal and Ireland. Debate of a “two-speed” euro-zone, and the possibility of a smaller monetary union or bifurcated monetary union, underscore the messiness of the euro-zone problems. Expect flare-ups from euroland to boost gold one or two times this year.
5. We live in a precarious world.
Extremely passionate gold backers have a dark view of the world. This group probably has canned goods, seeds and some bullets in the portfolio. But it doesn’t take a goldbug’s grim forebodings to appreciate that we live in a precarious world that could spark into trouble at unexpected moments.
The goldbugs worry about energy shortages, another banking crisis, terror attacks, failing governments, runaway inflation and anything else that scare the shorts of the average Joe or Jane. As extreme as some godbugs can be, the fact is that we do live in a precarious world. For a growing number of folks, holding a bit of gold is a piece of security, something that will hold its value. Homes used to do that. Gold’s always done that.
Just post the link, or at least reference it, instead of trying to pass this off as your own. It amazes me what people will resort to on here to come across as knowledgeable.
http://www.smartmoney.com/investing/economy/5-reasons-to-still-like-gold-1294706581496/
http://www.smartmoney.com/investing/economy/5-reasons-to-still-like-gold-1294706581496/
ffs, you are having a laugh. I posted it as others might be interested to read it. Don't judge others by your own standards of behaviour.
Help me out here, would others have NOT been interested to read it if it was linked or referenced?
The fact remains, a poster reading this has no idea of the source, and one can easily conclude that YOU wrote it.
Credibility ZERO...........may be it comes part and parcel with that Chemistry degree.
The fact remains, a poster reading this has no idea of the source, and one can easily conclude that YOU wrote it.
Credibility ZERO...........may be it comes part and parcel with that Chemistry degree.
Well, that settles it, at least I thought you could spell....
Typical, when backed in a corner call the other chap names and continue to post like nothing has happened.
If you have any ORIGINAL ideas on the economy, the markets, precious metals or anything else related to finance you should post them.
If you are only cutting and pasting, you should identify that the comments have been lifted from somewhere else and post a link or reference your source.
It's the only way you'll ever gain credibility on here. But then again we have an obnoxious Australian who doesn't even know how money gets created but keeps posting that he makes money in his sleep. So much for credibility on here.
Never mind......
If you have any ORIGINAL ideas on the economy, the markets, precious metals or anything else related to finance you should post them.
If you are only cutting and pasting, you should identify that the comments have been lifted from somewhere else and post a link or reference your source.
It's the only way you'll ever gain credibility on here. But then again we have an obnoxious Australian who doesn't even know how money gets created but keeps posting that he makes money in his sleep. So much for credibility on here.
Never mind......
I do not need to gain credibility anywhere.
This is not a competition, but a discussion forum. Try a discussion for a change, rather than arguing with anyone in sight, with your superiority complex. Do you have any mates?
What is he point of posting the link as well as the article? Who is going to go to the site if the whole article has been pasted here?
This is not a competition, but a discussion forum. Try a discussion for a change, rather than arguing with anyone in sight, with your superiority complex. Do you have any mates?
What is he point of posting the link as well as the article? Who is going to go to the site if the whole article has been pasted here?
Whatever.......
If not a link, then reference your source ffs, don't feign you come up with this stuff yourself.
If not a link, then reference your source ffs, don't feign you come up with this stuff yourself.
For what it's worth, JP Morgan warned today about a big sell off in the next weeks or so.
Is that their prediction of what will happen, or is that a warning of what they are going to do?
Current sentiment certainly is negative, but the fundamentals should ensure that Gold is a solid long term investment. It seems very unlikely that they can print all this money & things not go down the khazi at some point. Inflation & devaluing currencies causing big problems seem highly likely, but when?
When?!?!
Food riots in some countries not a big enough problem for you? Or, as long the shelves are stocked at Lidi and Britons can afford the price increases and put up with product weight-out and fade-out (to hide price inflation) without a murmur, things are still okay.
Big inflation is here NOW. I'm simply amazed people are still waiting for it.
Food riots in some countries not a big enough problem for you? Or, as long the shelves are stocked at Lidi and Britons can afford the price increases and put up with product weight-out and fade-out (to hide price inflation) without a murmur, things are still okay.
Big inflation is here NOW. I'm simply amazed people are still waiting for it.
Inflation & rising prices, yes. Devaluing currencies & Gold going up strongly, no.
ALL commodities price inflation we are witnessing now is the result of the FED's efforts DEVALUING the USD.
You are obviously a big fun of gold (nothing wrong with that - I was posting pro-gold arguments on this forum when the price was in the 600-700 range, not now that even shoe shine boys are spewing "buy gold") and you don't seem to even understand why gold has had such a great run since 2007. It's fiat currency debasement that's taking place NOW. But you are still waiting for it....amazing!
You are obviously a big fun of gold (nothing wrong with that - I was posting pro-gold arguments on this forum when the price was in the 600-700 range, not now that even shoe shine boys are spewing "buy gold") and you don't seem to even understand why gold has had such a great run since 2007. It's fiat currency debasement that's taking place NOW. But you are still waiting for it....amazing!
Since Mar '09 the FTSE100 has outperformed Gold, I'm hoping Gold has a relatively large move up to come. I think we are some way off food riots in the UK or US.
Stick to cutting and pasting articles from goldbug websites. Your FTSE "outperformed" comment reveals your ignorance as to what gold really is. Evidently, you don't have a clue beyond the goldbug matra "the world is collapsing, buy gold".
You are right about one thing, we are some ways off from foot riots here and the US. After all if Tunisia had our social support programs or a SNAP program like they do in the US, I doubt they'd be rioting in the streets either.
You are right about one thing, we are some ways off from foot riots here and the US. After all if Tunisia had our social support programs or a SNAP program like they do in the US, I doubt they'd be rioting in the streets either.
I don't ever make a statement on here that I can't back up.
The FTSE index "bought" 8.39 troy ounces of gold in Sept 09. It only "buys" 6.97 troy ounces today. So much for "outperformed".....
....but, yeah, you are absolutely right, it's that yellow metal stuff
The FTSE index "bought" 8.39 troy ounces of gold in Sept 09. It only "buys" 6.97 troy ounces today. So much for "outperformed".....
....but, yeah, you are absolutely right, it's that yellow metal stuff
So let's get this straight. Your 2 points on a graph are a great argument. My two points show ignorance, yet your two new points on the graph show some more incredible insight. We are not worthy of posting on "your" forum, it would seem.
You can post, no one said you can't.
Just don't try to disguise anecdotal knowledge as expert understanding.
As to the "points on a graph", I was just really surprised that as an obvious friend of gold that you are, you wouldn't measure the equities market's performance with real money, not fiat, and make the statement you did.
At any rate, I'm also a big friend of gold (it's insurance for my two young daughters) so I hope the value of your gold holdings (all in physical I hope) goes to the moon.
Just don't try to disguise anecdotal knowledge as expert understanding.
As to the "points on a graph", I was just really surprised that as an obvious friend of gold that you are, you wouldn't measure the equities market's performance with real money, not fiat, and make the statement you did.
At any rate, I'm also a big friend of gold (it's insurance for my two young daughters) so I hope the value of your gold holdings (all in physical I hope) goes to the moon.
I have never claimed any expert knowledge of finance
Sorry, my mistake.
Again, I wish you luck and look forward to reading some of your posts on here specifically as they pertain to gold.
Again, I wish you luck and look forward to reading some of your posts on here specifically as they pertain to gold.
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