Gold

[Skol]

Dow up 350. If this keeps going the serious punters will dump their gold to get back into stocks.

[elZorro]

Dow up 350. If this keeps going the serious punters will dump their gold to get back into stocks.

Maybe, but there are new quarterlies coming out from gold miners that show increased net profits, and as the HUI needs a kick up the jacksie, perhaps a lot of the attention will be on gold stocks. I live in hope..

http://www.minyanville.com/businessm.../2011/id/37615

Was the rally last night simply shorts covering, with the EU news looking a bit more promising? http://club.ino.com/trading/2011/10/...ly-for-real-2/

More on gold :http://www.annuitynewsjournal.com/go...et-volatility/

[Skol]

Gold plunges about $35 on yen intervention. XGD down 1.7%.

[JBmurc]

Gold plunges about $35 on yen intervention. XGD down 1.7%.

Yes in USD in AUD only down $4 ......yet the market pushed down many a profitable Gold producer,,many gold producers are being priced 10's mill below the cost of their gold producing plants no value to resources or exploration costs,admin etc ... crazy in no way could any anti-gold poster state that gold shares are in a bubble or going to go lower in value than they are now at the current price of gold....
Got a RESOURCE STOCKS june 04 mag in front of me, article on why many more gold companies will be consolidated to the bigger Goldies increasing their reserves ....has a list from 94-04 of who was acquisited at at what price per oz , an what the price of gold was at the time...etc
the lowest during that time "Wheaton River" buy out of "Amapuri" some 2.3moz gold brought for $271per oz when gold was priced at $380oz

the averge over the 10yrs of the 100 odd take-overs cost 94% (cost as % of the gold spot price)


today you have many explorers worth only $30oz-$60oz per oz in reserves, an producers valued not that much better

[elZorro]

Skol, you must be happy today, the USD on the way back up and gold is down. I've just watched "Too big To Fail" on the Soho channel, Lehmanns' fall was curiously similar to the bankruptcy story of MF Global on Monday this week. Another hotshot gambler convinced that they'd make a lot of money, they just had to hang out and wait. This is the market's reaction for now. http://www.reuters.com/article/2011/...79R4YY20111031

US Gold is back on strong trading triangles in the short, medium and long term.

[Pumice]

Gees Gold, along with everything else is getting nailed.

[Skol]

Gold's ditched and the punters head for the USD. Goldbugs are squirming because the USD is headed for oblivion apparently, they can't bear the thought of owning them, whaddya reckon JB? It goes against the grain, right? I thought the safe haven was supposed to be gold.

Gold, no thanks, my stocks have done well recently, best October in years according to the news.

MF Global-more chickens coming home to roost, and money's gone missing - fancy that.

In the Sunday Herald there was a 2 page article about how NZers are doing this year, the author went for a drive through a few towns asking people. One guy said he had $4,500,000 in debt. He taken out 100% mortgages and in his own words, "bought half of NZ" and now can't sell the houses.

[elZorro]

Gold's ditched and the punters head for the USD. Goldbugs are squirming because the USD is headed for oblivion apparently, they can't bear the thought of owning them, whaddya reckon JB? It goes against the grain, right? I thought the safe haven was supposed to be gold.

Gold, no thanks, my stocks have done well recently, best October in years according to the news.

MF Global-more chickens coming home to roost, and money's gone missing - fancy that.

In the Sunday Herald there was a 2 page article about how NZers are doing this year, the author went for a drive through a few towns asking people. One guy said he had $4,500,000 in debt. He taken out 100% mortgages and in his own words, "bought half of NZ" and now can't sell the houses.

Er, Skol, USD dropping back fast just now, gold back to $1720, and Greece may have decided to default on its debts already. I might keep my gold investments I think.

http://club.ino.com/trading/2011/11/...e-we-doubt-it/

[Skol]

At least with money in the bank you at least get some return, albeit not much, with gold you get a big fat zero % return.

I wonder how long it'll be before gold speculators (especially those that say you have to own physical so the banksters can't steal it) lose their patience and start selling. You keep hearing about the USD crashing and gold going to Pluto but it's not happening.

I have to admire the goldbugs stamina though, they'd be the most optimistic bunch on the planet, however I have noticed some anxiety setting in amongst the 'goldies' goldbugs.

[corran]

At least with money in the bank you at least get some return, albeit not much, with gold you get a big fat zero % return.

What time frame are you looking at there Skol?

I bought most of my physical gold between 2006-2008, I'm pretty happy with the return (guess they're up about 100% on my average cost price).

I bought a fair few OGC shares in Jan 2009 and sold a chunk after they'd gone up 600% or so. I was happy with that.

I've had a bit of cash sitting in the bank the last few years but haven't seen much growth there.