Gold

[peat]

for all I respect gold , the ATM's seem a bit weird. Hey I have one medium of exchange so I'll buy another.
Its not like a coke or a packet of cigs where you use it up and need another one.
Its an investment decision not a shopping trip!


oh and yeh they'd be good for a smash and grab raid!

[Skol]

Gold, is this the time, money to be trashed and gold to be king again.?

I have some insurance

FML-insurance?

You've been had tricha, ask for your money back.

Lower highs and lower lows. Looks like a terminal case.

[elZorro]

Stumbled on this, any use?

http://www.dailymarkets.com/forex/20...currency-play/

Alternative view..

London Gold Market Report

[Skol]

Inflation will appear when the US economy picks up, & interest rates rise & we get to the upper end of the economic cycle.

That could be a year or two away, who knows.

But if they keep printing money, it's getting closer all the time

I'm in the US at the moment Shasta. I've just been reading the WSJ over lunch and the headline story says that the US economy is firmly in recovery mode.

Oddly enough my lunch cost me $6.52 (incl.tax).

It wasn't $73,000,000 and I didn't need a wheelbarrow to take the dosh to the restaurant.

Weimar Republic, Song Dynasty, it's all a lot of nonsense.

A few pages back JB Murc advised us not to buy USD under any circumstances. Lucky I ignored his advice, USD is up against almost all other currencies.

[tricha]

From the frying pan into the fire, that's what any fool who buys US junk money is going to get, gold is going to "be" thee currency of choice.
Most States are in the same boat as California, all their ATM's are empty and it's nearly all over for the US, all a $ will be worth is the value of the paper it is printed on.



California 'must slash spending'

California Governor Arnold Schwarzenegger says the state must slash spending to deal with a $19bn budget deficit.



http://news.bbc.co.uk/2/hi/business/10117390.stm
Page last updated at 20:28 GMT, Friday, 14 May 2010 21:28 UK

Markets are fearful about the impact of austerity measures Global shares have fallen sharply as concerns continue about the impact of financial austerity measures in Greece, Portugal and Spain.
Amid fears the crisis may hit the European-wide economy, the UK's main FTSE 100 index ended down 3.1%.
Spain was worse hit - its shares lost 6.6%. France's Cac fell 4.6% and Germany's Dax 3.1%.
US share markets fared less badly, with the Dow Jones ending a choppy session down a relatively modest 1.5% at 10,620.2 points.
Both the dollar and gold rose as investors sought their traditional "safe-haven".
Gold hit new record highs near $1,250 dollars an ounce and the dollar rose against the euro.
Concerns that Greece's debt crisis could spread to other countries fuelled worries about a euro collapse.
The euro hit an 18-month low against the dollar, as doubts grew that a joint rescue plan by the European Union and the International Monetary Fund would be able to contain the crisis.

[JBmurc]

JB,
Euro markets go through the roof.
I heard the other day that the reds from Central Otago aren't that good this year, so a Pinot from somewhere else please.

you better keep your eye on deals for a bottle of --Veuve Clicquot Ponsardin Brut N.V.---- remember the price has to close lower than $1094oz last trade 2010 (from memory) its 1230oz+ at this stage

also keep the negative gold posts coming Skol seems to be gold positive LOL ---- did you get burnt by goldcorp etc in the past would explain the hate

[Skol]

you better keep your eye on deals for a bottle of --Veuve Clicquot Ponsardin Brut N.V.---- remember the price has to close lower than $1094oz last trade 2010 (from memory) its 1230oz+ at this stage

also keep the negative gold posts coming Skol seems to be gold positive LOL ---- did you get burnt by goldcorp etc in the past would explain the hate

Get burnt by Goldcorp? Doubt it, I don't buy gold or silver but I've dabbled with the shares in the past.
Todays FT has an article suggesting the end might be in sight for gold because the Indians won't buy it at current prices.

PS.
One of the reasons gold is up is, according to FT, is because paranoid Germans (like goldbugs) just can't get over the Weimar Republic drama, even though all Germans with a memory of that time are now dead. Austrians and Germans are buying krugerrands as fast as they can mint them and paying a very severe premium and this is what's increasing the AU price right now. The South Africans can't make enough of them apparently. Looks like another contrarian signal.

[ENP]

When you buy silver/gold and keep it at home, do you tell your insurance company?

Do you just get a big ass heavy metal safe and store it in there?

[Skol]

When you buy silver/gold and keep it at home, do you tell your insurance company?

Do you just get a big ass heavy metal safe and store it in there?

Yep, and when you want to sell it it you get a crane in and haul it off to your local bullion dealer who will have his doors closed if there's a meltdown going on.

[peat]

you'd be a very lucky person if you needed a crane to lift your gold.
skol perhaps you should consider be more constructive in your posts... you do really seem to have a problem in this thread. of course you're perfectly entitled to view gold as a bubble. but its not very helpful to anyone just bagging it all the time... perhaps you could suggest an actual trade or a strategy around gold so that we can evaluate it.
gold IS overbought on the daily RSI with a coule of spinning top candles indicating uncertainty and the new high is not matched by RSI giving divergence.

So where should we short it skol ???? please put a stake in the ground re your negative sentiments.