Gold

[Skol]

I picked up a copy of Barron's the other day, had an article on gold. One advisor told his customers to get out of gold because when a chart becomes almost vertical, like gold, it always, always, always, goes down, down, down, for a long, long ,long time. ALWAYS.

[elZorro]

I picked up a copy of Barron's the other day, had an article on gold. One advisor told his customers to get out of gold because when a chart becomes almost vertical, like gold, it always, always, always, goes down, down, down, for a long, long ,long time. ALWAYS.

But Skol - gold is now at US$1900, will probably rest at an all-time high, next stop likely to be $2,000/oz. Maybe that will be a bigger barrier for it to pass.

Why don't you short gold? Surely that would be a no-brainer at this stage, or are you still unsure like the rest of us?

[Skol]

But Skol - gold is now at US$1900, will probably rest at an all-time high, next stop likely to be $2,000/oz. Maybe that will be a bigger barrier for it to pass.

Why don't you short gold? Surely that would be a no-brainer at this stage, or are you still unsure like the rest of us?

I am unsure, and I don't feel like risking hard-earned tax-paid dollars on a mania, it could go on for a while. I give crowd behaviour a wide berth.

[denpal]

I picked up a copy of Barron's the other day, had an article on gold. One advisor told his customers to get out of gold because when a chart becomes almost vertical, like gold, it always, always, always, goes down, down, down, for a long, long ,long time. ALWAYS.

skol, heard of the exception that disproves the rule?

As has been shown, in semi-log scale there is no parabola, only a ruler straight trend with a bit of a pimple at the end.

[JBmurc]

Well unlike some here that seem to have mixed up a Bull trend with a mania I'm enjoying getting on board an making some good profits in the Gold sector as when it's in mania you won't see...

-- nearly all of biggest invesment funds in the world have only very small amount's of Gold/silver allocation in their funds tiny less than 1%
--9 out of 10 analyst's on CNBC over the years have been bearish on the gold now they are still even more bearish
--Easy to buy from many bullion outlets
--I know of no-one personal that hold Gold bullion...An I'm a Gold bull
--Soon to be Gold producers at forward P.E of 1-2 (how the .uck is that a mania in gold if the shares that produce an make big cash are valued so low)
--Many Gold explorer's having their IGV of Gold resources being valued at less than $30 per oz ...they were valued more back when gold was $500oz
--Barron's,FT,economists,WSJ they are all calling for gold's crash are they not??? how are we in a mania

[Skol]

I'm not sure Queenstown is sophisticated enought to know there's a mania on, but try spending a bit of time watching the box or reading the papers in North America. It's everywhere, gold, gold, gold. Instant, risk free riches.

Great spectator sport though, much more interesting the the RWC.

Here's quote from Isaac Newton: "I can calculate the motions of the heavenly bodies, but not the madness of people."

[JBmurc]

Right so you see some ads in the Yank papers an T.V advertising Gold for sale ""Oh no it's a Bubble"" thats real sophisticated.... LOL

Gold $1912oz-------- buying more CVR est production costs $550 per oz----

[elZorro]

Gold certainly looks bullish for the rest of the day's trading, JB and Skol. Closer to home, OGC is trading slightly down, if that is to be believed. Good volume on the ASX though - is it being accumulated? I'm not a TA expert.

[JBmurc]

Gold's looking bullish till the world sorts out the debt/credit/currency woes we are in which is unlikely anytime soon 2015-18?
worth watching -Inside job-DVD watched it yesterday ,really backed up my very to be hold a few Gold an Silver producers going forward...even if gold goes no-where many producers will be making their entire market worth in Profit in 1-2yrs production

[Skol]

Goldbugs love Youtube. A few minutes ago I found a clip that says silver's going to $100,000 an ounce.

Hahahaha, boy this is entertaining. There's plenty of websites that say gold is going to $100,000.

I'll see what else I can find when I have a bit time.

Silver $100,000, you really are going to be rich JB. LOL