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Thread: GOLD

  1. #41
    action-reaction arco's Avatar
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    Default Panic grips credit markets

    .......................Gold also benefited from safe-haven buying, with bullion prices heading for their largest one-day gain for 20 years, leaping 11.2 per cent to a three-week high of $864.70 a troy ounce.

    http://www.ft.com/cms/s/0/8058d308-8...0779fd18c.html
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  2. #42
    Legend peat's Avatar
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    Heres a quote from Friday (I'm back home and catching up on the news a bit)
    Quote Originally Posted by ABN Amro
    As the crisis on Wall Street deepens, retail investors, who can't afford the high cost of trading in the futures markets, have been increasing their holdings of gold coins as a safe haven. The U.S. Mint said last week it was temporarily suspending sales of American Buffalo gold 1-ounce bullion coins after soaring demand depleted inventories. The Mint had previously halted sales of American Eagle 1-ounce gold coin in August. Gold held by the SPDR Gold Trust, the largest gold ETF, surged 16% in September to 755.26 tons. That would rank the fund as the eighth-largest worldwide in gold holdings. The U.S. government, the biggest gold holder, has 8,134 tons in reserves as of September.


    For clarity, nothing I say is advice....

  3. #43
    action-reaction arco's Avatar
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    Hi Peat

    Similar info and more here


    http://www.moneyandmarkets.com/Issue...Parachute-2364
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  4. #44
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    Quote Originally Posted by arco View Post
    Hi Craig


    How do you trade your gold there - physical or what?

    rgds - arco

    Apart from GLD as an ETF in the NYSE, I suggest you look at GOLD in the ASX. I bought some bullion through NZ Mint but I think that GLD and GOLD are the way to go. Less hassles and more liquidity.
    God - Please give us just one more bubble....

  5. #45
    Legend shasta's Avatar
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    Quote Originally Posted by patsy View Post
    Apart from GLD as an ETF in the NYSE, I suggest you look at GOLD in the ASX. I bought some bullion through NZ Mint but I think that GLD and GOLD are the way to go. Less hassles and more liquidity.
    Golds on the move & looking promising...

    Currently at $US877.90/oz & with the FX at .7165 = $A1,225/oz

    Gold & Silver to rally hard thru the end of 2008 & into 2009

  6. #46
    action-reaction arco's Avatar
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    Just wonder if the next stop for Gold is the grey box in the lower RH corner.

    .
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  7. #47
    Legend shasta's Avatar
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    Quote Originally Posted by arco View Post
    Just wonder if the next stop for Gold is the grey box in the lower RH corner.

    .
    Arco

    Are you able to repost that chart, it's not showing up?

    I'm wanting to see whether Gold will bounce off $US750/oz, i see that as an important support level (just need confirmation of it)

    Thanks

  8. #48
    action-reaction arco's Avatar
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    Hi Shasta

    Try this - let me know if its still not showing.

    Size is a problem on ST

    rgds - arco
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  9. #49
    Legend shasta's Avatar
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    Quote Originally Posted by arco View Post
    Hi Shasta

    Try this - let me know if its still not showing.

    Size is a problem on ST

    rgds - arco
    Thats great, thanks again Arco

  10. #50
    Senior Member airedale's Avatar
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    Hi Arco, pog was over US$ 900 a few short weeks ago. With this volatility the grey box in the bottom right corner is possible. But it is hard to predict. The US printing press must keep going, so where does that take gold.

  11. #51
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    Quote Originally Posted by airedale View Post
    Hi Arco, pog was over US$ 900 a few short weeks ago. With this volatility the grey box in the bottom right corner is possible. But it is hard to predict. The US printing press must keep going, so where does that take gold.
    We will see much more deflation in the POG before we see inflation.....the money handed out already by the US Fed and US government barely scratches the surface of what has already been lost in the credit crunch.

  12. #52
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    Quote Originally Posted by Packersoldkidney View Post
    We will see much more deflation in the POG before we see inflation.....the money handed out already by the US Fed and US government barely scratches the surface of what has already been lost in the credit crunch.
    I agree.....I'm still thinking deflationary/disinflationary for the time being.

    But in my opinion, once the mass bailouts gain traction......hold on for a reinflationary ride on a rocket.

    Gold now in the low 700's today.

    How low will it go?

    Not sure......but I'm definitely a buyer here....but a VERY cautious buyer...I'm still averaging UP.....but a couple more good sized purchases will have me averaging DOWN

    Personally, I think it's inevitable that gold is going to sky since the entire world seems happy enough to choose inflation over deflation.

    What I'm trying to focus on is finding leading indicators I'm comfortable with that signal the end of deflation/disinflation and the beginning of reinflation in order to consider bigger/bolder entry points....as well as getting a handle on how long the change from one to the other will take to truly kick in.....giving me the comfort level to exchange devaluing cash or cash-like for tangible "stuff".

    If the deflation/disinflation changing to reinflation "big picture" doesn't change...I expect to be invested well over 50% in commodities within approx. 24 months roughly 1/3,1/3,1/3 in Ag, PM, and energy.

    One thing I'm not sure is a help or a hindrance at times is the growing disparity between spot price and physical.

  13. #53
    action-reaction arco's Avatar
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    Gold was an overnight sensation for me...........+3500 atm...................and heading for the grey box as mentioned/shown in my post yesterdayGTA - arco
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  14. #54
    Legend shasta's Avatar
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    Quote Originally Posted by arco View Post
    Gold was an overnight sensation for me...........+3500 atm...................and heading for the grey box as mentioned/shown in my post yesterdayGTA - arco
    Gold smashed thru $US750/oz like a bulldozer, in free fall mode now ouch

    Copper is worse

  15. #55
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    Out of my depth here but did read .IF gold falls thru $740 the next level is $560. ??

  16. #56
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    Whats the best, easiest way to buy gold. There's no physical access in my City.I read about gold warrants from Perth mint etc. Is it better to own the real deal, coins etc. ?? I notice a 5% fee between buying and selling. Thanks.

  17. #57
    Senior Member airedale's Avatar
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    Hi Ollie, google NZ mint. I have no experience of buying the metal, but it may give you a starting point.

  18. #58
    action-reaction arco's Avatar
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    Buying physical is pretty expensive.....................

    I checked last Tuesday at Auckland Bullion.

    Buying price was then NZ$1455.56 .......Plus a $15 bar charge.
    The purchase back price was $1279. So an immediate loss of $191 or about 13%.

    You might be better off putting that amount with Oanda (who also pay 4% interest when the money is laying idle).

    Remember storage as well. If you are buying a large number of bars a safety deposit box will be an additional cost.

    arco
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  19. #59
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    gold chart from all time high counts best as a corrective move lower.

    it doesnt look like a new impulse wave lower but overlapping corrrective waves.

    downward channel developing with possibilty of 680 coming into play which may be a good place to look for a reversal.

  20. #60
    FEAR n GREED JBmurc's Avatar
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    Cool watch GOLD bounce soon

    In the October 22 session on the TOCOM Goldman Sachs COVERED 23 short contracts and BOUGHT 703 long contracts which brings their long position to 2,971 contracts and makes them now NET LONG 543 contracts. This is the LARGEST long position they have held in 30 months. In 30 months they have been net short every day except for two days. The only other day they were net long was on 9/29/08 and was only 28 contracts net long."
    People don't have ideas, ideas have people

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