Gold

[Skol]

Daytr,
Don't think I am being selective actually, what is up? Nothing I can think of; gold, silver, HUI, XGD, GDXJ, GDX, SIL, SLV, SLW, mint sales, Indian imports.

Can you give me some examples of what are 'up substantially'?

Gold's down 35% from its high, to get back there it has to go up 54%. Could take some time.

[FarmerGeorge]

Just a quick point on when it can be worthwhile to take physical delivery. Bass is long a lot of traditional stocks and US housing, he made plenty from sub-prime and knows what he's talking about. I think it would be a mistake to dismiss his views as those of 'just a gold bug'.

http://www.youtube.com/watch?v=lgNVNTvlpFY

[Skol]

The book 'Gold Bubble', which I have here was a great read, here's the author telling goldbugs why gold's going to $700.

http://finance.yahoo.com/blogs/big-d...175653878.html

= ~$10.70 silver.

SPDR GLD Trust down 7.2 tonnes overnight.

[elZorro]

I'm just going to say this now while I have the chance..

Gold to da moon! (Sort of).

[blackcap]

Its certainly taken off this morning (NZ time) hasnt it!! For those who think its falling to the 800 lows its a good time to buy puts or short But not for me at this stage. Just dabbling on the ipredict.co.nz site which has commodities markets

[elZorro]

All quiet from Skol - cheers Blackcap. The gold spike was in turn caused by a big drop in the dollar value, and this in turn was caused by Mr Bernanke.

http://www.incrediblecharts.com/trad...ex-markets.php

QE will continue. Interest rates will stay low. Cue an exodus from the US$. It was a very sharp spike, I expect to see it carry on tonight.

[blackcap]

Dont get me wrong elZorro, in the bigger scheme of things I dont like gold as an investment at all. It doesnt generate anything or produce anything. But its interesting to see the daily gyrations in the gold price and how certain people attach a religious fervour to the yellow metal.

Long term I think it will tend towards US 1000 but if QE continues and off course this will be inflationary then gold will hold its level (as its quoted in USD)

[Skol]

All quiet from Skol

only one thing to do EZ, back the truck up.

[Daytr]

Hi Skol, in the 1st quarter physical demand was up across the board, as you would expect with a falling gold price. I haven't yet seen Q2 figures but I suspect they were up as well, but perhaps not as strong as Q1. Obviously the ETF selling & market shorting has far outweighed this, however 1) shorts need to be covered at some point & 2) the ETF selling is a one off & potentially could turn to be a net buyer in the coming months.

I'm not a fan of these sights but when looking for the data I came across this.

http://www.zerohedge.com/news/2013-0...hysical-vs-etf

Daytr,
Don't think I am being selective actually, what is up? Nothing I can think of; gold, silver, HUI, XGD, GDXJ, GDX, SIL, SLV, SLW, mint sales, Indian imports.

Can you give me some examples of what are 'up substantially'?

Gold's down 35% from its high, to get back there it has to go up 54%. Could take some time.

[elZorro]

Yes, I would maybe back the truck up for a short time, if I had one, and the spare cash. Look at this prediction, lines up with Daytr. Longer term maybe not so good though.

http://www.ino.com/blog/2013/07/the-...n-of-the-year/

Turkey bought US$1.9 billion of gold in one hit.