Gold

[skid]

Skol,your a real character.
When gold was at $1100 you predicted a crash and kept on predicting one as gold increased up to $1800+
Now that it has fallen to around 25-30% higher than when you started posting,your patting yourself on the back.
Mate-your still in the red...
Meanwhile ,back to reality--the plunge in gold price has caused a bit of a stampede to finally get the chance to buy for many.
Physical buying has increased 2 fold for many mints.
This physical buying has apparently been the main factor in the rise .
Its interesting that so many jumped in when the fall came

[ynot]

Eventually logic must prevail. Recent gold buying action says it all.

[skid]

Have you done any research on the state of the economy when that first circle was drawn Karlos?
To think about Gold without factoring in the state of the economy is Imo short sighted.
If your satisfied that the economy is on the mend and things are coming right ,then by all means be comfortable in your decision.
But a graph ,without the underlying causes are not enough .They are not self explanatory.They are a representation of other factors.
What do you think the share market graph would have looked like if those bright sparks had not come up with sub prime mortgages to sell?
They say history doesnt repeat--the forces that create it do
You may be right that gold will fall,but I would be interested to hear your reasons other than it happened once before in a different time (we also had a depression and two world wars]
Im not saying we will not have both again,but you can bet that they wont happen ,simply because they have happened before.

[Skol]

Nice chart thanks Karlos.
The fun hasn't even begun yet.

[ynot]

When gold fell on your chart around 1980 i recall no urgency to buy physical after that drop like we have seen in the last couple of weeks. Thats one major diference between then and now, a greater awareness of golds underlying value.

[Skol]

Goldbugs talk about 'physical' and 'paper', it's all a load of BS squared.

They're one and the same, only losers having been lining up to buy 'physical' recently, because the next selloff isn't far away.

[JBmurc]

Goldbugs talk about 'physical' and 'paper', it's all a load of BS squared.

They're one and the same, only losers having been lining up to buy 'physical' recently, because the next selloff isn't far away.

You da man Skol NOT....

--GLD is believed to hold some 1083 tons of gold .......


Anybody who says there’s been gold selling in the GLD is a freaking moron (Bob Pistrami, I’m looking in your direction). The GLD works much like a coat check. Unless you think checking your coat constitutes a real transaction of some kind you shouldn’t think of changes in the GLD’s gold holdings as sales. They’re not. When you check your gold into the GLD you get shares (like a claim check). Where it gets wierd is you can sell these claim checks to nimrods who seem to think they’ve bought your coat, but aren’t actually allowed to wear it.

What nobody seems to appreciate is that every share of GLD is allowed to be sold TWICE (long and short, and it’s really important to understand that). If you’re foolish enough to doubt me (and foolish enough to short gold), go short GLD shares and see if anyone knocks on your door demanding gold. Saying the GLD is 100% backed by gold is a bold face lie because they’re can't be twice as many shares in play as gold backing them, which means GLD shares may be only 50% backed by gold before any rules are broken.

When GLD (or any ETF for that matter) shares sold exceed the existing shares PLUS all the shortable (double-sold) shares, legitimate shares can not be found for settlement and that must be reported to the SEC’s “Fails to Deliver” list, which is published twice a month with about a four-week delay (here).

April 15, 2013 was this biggest volume day ever for GLD (93.7mm) and I’ll guarantee you right now that record fails to deliver will be reported on or around that date, which should have required more gold to be deposited with the GLD (but that didn’t happen). So instead of the half-assed explanation Pistrami offered (here) of how he thinks the GLD works, he should have raised the question of whether or not there were enough legitimate shares of GLD to facilitate trading (I say no way in hell).

Gold continues to be pulled from the GLD (which really means people want their coats back) and still no one’s concerned about the number doubled-owned shares. Worse yet, the responsibility for sorting this unholy mess out falls to SEC chief Mary Jo White who is celebrating her 16th day in office.

I can’t wait to see what happens next….

http://acrossthestreetnet.wordpress....-selling-gold/

[JBmurc]

Looks like Skol has fallen into the bear trap. Going to hurt trying to get out of this one!

I'll think your find SKOL doesn't actually short sell gold even with all his talk of gold crashing ,,outside his bet with me on it's year end price

[Skol]

No I don't short gold I own stocks, best run I've had since buying in after the 1987 crash.

[Skol]

snapiti

Well I've banged on about this before but one more time, just for you.

Gold and stocks are not correlated, when one goes up the other goes down, in general.

For example:

N225 +43%
DJIA +14%
XJO +14%
DAX +20%
FTSE +14%

________

Gold -13%
Silver -23%

In the last year, work it out for yourself, you don't need to be Albert Einstein.

So effectively, I'm shorting gold, without too much risk. Nice!