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Thread: Gold

  1. #5001
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    Addendum Farmer George, this is the return for gold against the S&P500 total return index which includes dividends, since '75.

    Gold up 180%.
    S&P500 up 1147%

    Over time, shares, including dividends leave precious metals for dead.

    GLD down another 1.2 tonnes overnight.
    Last edited by Skol; 02-07-2013 at 02:56 PM.

  2. #5002
    Advanced Member Valuegrowth's Avatar
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    http://blogs.wsj.com/corporate-intel...he-pawn-shops/

    First the Gold Bugs Got Stung, Now the Pawn Shops

  3. #5003
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    UBS advise their clients to get out of gold.

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

    HUI -4.76%
    GDX -4.58%
    GDXJ -3.89%
    SLW -5.95%

    GLD ETF down another 3.4 tonnes overnight.
    Last edited by Skol; 03-07-2013 at 09:12 AM.

  4. #5004
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    Even Barrick is getting hammered, and 60% of its production in Q1 came from a cost base of about $600 an ounce. But:

    Barrick could face a ratings downgrade of “another notch or so” if gold prices decline further and stay lower for a prolonged period, although it will probably remain investment grade, said Li.
    “They will get hit pretty hard in terms of earnings and margins and free cash flow” at lower prices, he said.
    Barrick has forecast it will cost $950 to $1,050 to produce an ounce of gold on average from all its mines this year. Goldcorp forecast a cost of $1,000 to $1,100.
    Barrick’s net debt would probably increase to a peak of $15.8 billion in 2014 if it decides to cancel its Pascua-Lama project, assuming a gold price of $1,300, Anita Soni, a Toronto-based analyst at Credit Suisse Group AG, said in a note dated June 25. Net debt could rise to $17 billion in 2015 if the project on the Chile-Argentina border goes ahead.
    That is the issue, look at the capital debt it takes to get a big mine up and running.

    All very well to say that the GLD ETF is down another few tonnes, but are these investors selling when they should be holding? Who told them to sell? Gold is still four times above $300 an ounce, its recent low point over the last two decades.

  5. #5005
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    Too much temptation on gold is not good for any economy. If we analyse Indian economy we can get some idea about this. In advance I had some concern about nation of gold consumers and how it will affect the economy. Now number one gold consumer India has to facefor the one of the biggest currency loss. Their currency fell 4.9 percent last month.

    According to following link Jewellery sector in India agrees to stop selling gold bars and coins until India's trade balance improves. Gold has affected for their trade balance as well. Will this new developmentaffect negatively to the gold market?

    http://goldnews.bullionvault.com/gold-bars-062520132

    Gold Bars & Coin Sales Suspended by India's JewellerySector

    Myideas are not a recommendation to either buy or sell any security, commodity orcurrency. Please do your own research prior to making any investment decisions.Please note that I do not endorse or take responsibility for material in theabove hyper-linked sites.
    Last edited by Valuegrowth; 03-07-2013 at 08:51 PM.

  6. #5006
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by MARKETWINNER View Post
    Too much temptation on gold is not good for any economy. If we analyse Indian economy we can get some idea about this. In advance I had some concern about nation of gold consumers and how it will affect the economy. Now number one gold consumer India has to facefor the one of the biggest currency loss. Their currency fell 4.9 percent last month.

    According to following link Jewellery sector in India agrees to stop selling gold bars and coins until India's trade balance improves. Gold has affected for their trade balance as well. Will this new developmentaffect negatively to the gold market?

    http://goldnews.bullionvault.com/gold-bars-062520132

    Gold Bars & Coin Sales Suspended by India's JewellerySector

    Myideas are not a recommendation to either buy or sell any security, commodity orcurrency. Please do your own research prior to making any investment decisions.Please note that I do not endorse or take responsibility for material in theabove hyper-linked sites.
    And now their Silver imports are going through the roof ...
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #5007
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    JB,

    I love to disprove goldbug conspiracy theories because it makes them look so retarded, so here's the gold bar list for the SPDR GLD Trust that you condescendingly refer to as the next Enron.

    http://www.spdrgoldshares.com/assets...st/Barlist.pdf

  8. #5008
    FEAR n GREED JBmurc's Avatar
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    In what is best described as the "Gold Saga" over a period of almost exactly 2 weeks from 9 April to 23 April (with the market impact from 10 April to 24 April), the gold price fell by more than $200/oz within a week. Goldman Sachs (Goldmans) went from bullish/buy gold up to 9 April at ~$1570/oz through "short" gold on 10 April, only to "change horses" back again on 23 April at ~$1408/oz stating close the gold "short" positions, as the gold price could rise.

    http://www.breakawaydigger.com/Artic...ticle%2058.pdf
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #5009
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    Quote Originally Posted by JBmurc View Post
    In what is best described as the "Gold Saga" over a period of almost exactly 2 weeks from 9 April to 23 April (with the market impact from 10 April to 24 April), the gold price fell by more than $200/oz within a week. Goldman Sachs (Goldmans) went from bullish/buy gold up to 9 April at ~$1570/oz through "short" gold on 10 April, only to "change horses" back again on 23 April at ~$1408/oz stating close the gold "short" positions, as the gold price could rise.

    http://www.breakawaydigger.com/Artic...ticle%2058.pdf
    So What?

    Aren't they allowed to buy and sell gold?

    Better get yourself some USD assets before it's too late JB. I'm on the West Coast atm. First thing I do on arrival is notice in the WSJ that new car sales are up 9.2% on June 2012,and in the first 6 months of 2013, Americans purchased 7.8 million new cars. Turn over the page and US oil production is up. The US and Canada are producing 3,000,000 barrels/day more than they were in 2008.

    The place is chokka with tourists, even the beggars are having 4th of July off. lol
    Last edited by Skol; 05-07-2013 at 09:00 AM.

  10. #5010
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    I've just read an interesting article "Has gold lost its lustre" on John Mauldin's "Outside the Box". Rather too long to copy for this thread but it can be found on his website or by Googling "Outside the Box", if anyone's interested. I don't know the author but Mauldin is normally a good judge of what's worth reading.

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