Gold

[Skol]

A 'smackdown' for silver, a big one. Daryl Guppy says where silver goes, gold will follow.

[skid]

http://www.kitco.com/news/video/show...James-Rickards

[Skol]

http://www.kitco.com/news/video/show...James-Rickards

Rickards doesn't understand gold either, he's been predicting $4,000 - $11,000 gold for years. lol

More falls coming up for gold equities next week.

HUI -4.26%
GDX -4.32%
GDXJ -5.76%
XAU -3.9%

Rickards says the implied price of gold today is $7,000 an ounce. Another goldbug in la la land.

[skid]

Its not about understanding gold--Its about understanding the economy--Do they actually think the money printing will[can]go on forever?

[Skol]

Which way for gold from here?

Downwards.

http://www.marketoracle.co.uk/Article40820.html

Some deluded goldbugs on other websites are 'backin' the truck up', still complaining about the Fed, manipulation, the 'Friday night smackdown', why gold isn't $50,000, ad infinitum.

[Skol]

http://www.emirates247.com/business/...06-09-1.509647


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In addition to that, with the recent rumours about a scale-back of the US QE3 programme, analysts fear that gold could, in theory, retreat to closer to levels before the QE1 programme was unveiled.

That would mean an approximately 50 per cent retreat from the current levels, which seems a little nerve-wracking, considering the amount of physical buying going on at these levels.
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A 50% retreat, that would certainly be a little nerve-wracking for goldbugs, but as I've said all along the value of gold is about $700. If it happens there's going to be a lot of poverty-stricken Indians and Chinese, and gold will probably migrate back to the West.

[Skol]

Gold looks to be resuming its downward trend, N225 up 5%.

[Skol]

There's a connection - precious metals and cranks.

http://www.bloomberg.com/news/2013-0...spiracies.html

[Daytr]

Hey Skol, looks like the Chinese don't follow your view on gold & they continue to liberalize their gold market.
Over time this could be massive for gold. The transfer of wealth from West to East continues...

http://www.bloomberg.com/news/2013-0...e-bullion.html

[Skol]

Hey Skol, looks like the Chinese don't follow your view on gold & they continue to liberalize their gold market.
Over time this could be massive for gold. The transfer of wealth from West to East continues...

http://www.bloomberg.com/news/2013-0...e-bullion.html

When I was debating the peak oilers when oil was $140 a barrel they used to tell me that the Chinese were buying up all the oil companies they could lay their hands on and that the Chinese were "very smart people" buying at that price.

Did you read about the Chinese Aunty that was buying lots of gold? The neighbour asked her why she was using her retirement savings to buy gold and what would happen if the price went down.The aunty told the neighbour that if everyone bought gold the price would only go up.
True!