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Thread: Gold

  1. #5291
    FEAR n GREED JBmurc's Avatar
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    Whatever makes you feel better Skol personal going from the latest 6 month chart looks like a double bottom round the time you were bleating on about Gold Crash Doom DOwn to 600 ....Dow going to the moon >>>fact is like I said back then IMHO the bottom was in for the year currently we are breaking through resistance levels with next stop a attack on the 1440 resistance level I see we reached 1435 only hours ago,,,,..also on on the whole mess the US empire is ....I personal believe because of the New War the masters want to get involved with that Q.E tapering will be put to bed for awhile all those missiles & Mass attack forces aren't cheap to run someone's got to pay

    Fasle flag operation ?
    http://guardianlv.com/2013/08/syrian...ebels-says-un/

    al-Qaeda Rebels ? didn't we fighting these guys in Afghan/Iraq
    http://news.antiwar.com/2013/08/27/a...inated-rebels/

    http://www.ynetnews.com/articles/0,7...421989,00.html

    All very confusing

    Right now that makes sense
    http://www.globalresearch.ca/hillary...-qaeda/5337222
    Last edited by JBmurc; 28-08-2013 at 07:49 PM.
    "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

  2. #5292
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    Quote Originally Posted by Skol View Post
    Here's a chart goldbugs might be interested in as opposed to the one that JB Murc posted. The peak is indexed to 100, gold didn't have a sustained rise for another 2 decades.

    The chart is dated April 2013, so it fell considerably further than that shown. In fact it would have dropped to the 60 line before the current recovery, almost exactly as per the 1980 crash. Fancy that!
    There are many reasons why the current gold chart doesn't need to map over the 1980 peak, Skol. Gold has not risen parabolically, it's been mostly linear. It has also not fallen as far or as quickly, and instead of meteoric profits being made, this time miners were just starting to make a sensible profit. A big part of the increase in the gold price has been scarcity of the resource, and increasing exploration and extraction costs. China just had a big find of 21 tonne gold reserves, but this is under 1Moz. Waihi produced 10Moz over 150 years.

    Despite all of the goldbug research, you seem to be content to look at the gold price as simply a peaky squiggle that ideally should be a slowly trending rise over decades. It's more like a fearful heatbeat, and as energy costs rise and entire countries do less well than they have in the past relative to their peers, some will seek out gold as part of their investments. Those countries who are doing better than they used to, now under globalisation (e.g. China and India) are also buying gold for a different reason: safety in numbers. There is a gold shortage (of real gold), it's not going to be fixed while the price is at $1400, as miners will stand by and wait while it's down there. I can see the price going past $1800/oz again sometime in the next year, the way it's behaving at the moment.

  3. #5293
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    Quote Originally Posted by elZorro View Post
    There are many reasons why the current gold chart doesn't need to map over the 1980 peak, Skol. Gold has not risen parabolically, it's been mostly linear.
    Could've fooled me.

    And it's a myth that there's a shortage of gold, just head off to your nearest dealer and check it out. Another goldbug conspiracy theory.

    This is a parabolic chart, I think you'll agree they're similar, notice the sell signal, something JB Murc missed when silver went parabolic a couple of years ago, now he's sitting on 1500oz of corroding metal. lol

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    The corrosion rate of silver is shown not to be humidity dependent. Hydrogen sulfide, ozone, chlorine, and hydrogen chloride concentrations substantially influence its corrosion rate.
    -----------------------------
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    Last edited by Skol; 29-08-2013 at 07:57 AM.

  4. #5294
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    Of some interest, I noticed the other day that gold and silver crashed by EXACTLY the same %age after they peaked.

    Uncanny isn't it?

    Here's something for the goldbugs that perennially remind us all that the USA is about to fall apart and China become the dominant power. From an investment bulletin I received this morning.

    "China faces the downward leg of of the economic cycle, America the upside. It is quite conceivable that America's economic growth will overtake China's within 5 years. What is of more concern than a cyclical downturn in the economy is the degree to which Chinese property prices have inflated. A sharp correction in property would leave the highly levered Chinese banks as vulnerable as Western banks were during the GFC."

    A fall in the Chinese property market could trigger a massive gold sell-off.
    Last edited by Skol; 29-08-2013 at 04:15 PM.

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    Quote Originally Posted by moosie_900 View Post
    oh dear, looks like the gold investors saying COMEX was running out of gold and that deliveries were approachingvthe breaking point were very, very wrong. also criticises goldbugs for scaremongering people into investing in gold. oh deary me...

    http://www.cpmgroup.com/sites/defaul...13-08-19_0.pdf
    Hardly scaremongering Moosie, one of those charts shows that indeed Comex stocks of both registered and unregistered type are dropping quickly. In any case, there is only US$11.2 Billion of gold stocks in both types at the moment. It's not a big number compared to world wealth, or to QE figures for the US alone. Germany wants 300,000oz back, how many other countries are expecting a share of what's left?

    Newmont, the world's second biggest miner, reports an all -in average sustaining production cost of over $1100 per ounce, and including stockpile writedowns, over $1500 per ounce. They are about to lay off 35% of their corporate and regional workforce.

    http://www.businesswire.com/news/hom...r-2013-Results
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    Last edited by elZorro; 29-08-2013 at 06:57 PM.

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    Since April 1968, there have been 15 rolling three-month periods where gold in sterling has lost 24 percent or more, and after each of these three-month periods, gold prices rose again over the next three months, resulting in an average 20.7 percent increase for U.K. investors,"
    -----------------------------

    Gold has risen exactly 20.7% since it's recent low.
    This implies that gold will now continue the downtrend.
    Last edited by Skol; 30-08-2013 at 04:47 PM.

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    Peter Schiff still banging on the last couple of days about 'gold going to the stratosphere'.lol

    Does this idiot have any credibility left?

    Here's a comment on Shiff from CNBC

    "Ah my buddy da Petah Shift...he a good saresman..he get 8% commishunn to serr da gord....anyways, prease buy da gord and push it up to da 1500 dorrah rever...at dat point, I wirr shoht it and make da munay. Fank you."

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    Mate JB Murc and his goldbug buddys are hoping like hell that there'll be a an attack on Syria that will set off a huge war. e.g. the USA will attack Syria, Syria will gas Israel, Israel will attack Syria, and then Iran and their religious maniac Hizbollah sycophants will also attack Israel. The Israelis will then decimate Syria and Iran and anyone else who sticks their head above the parapets.

    A nuclear explosion JB, how good would that be? Goldbugs love a bit of carnage, what better way to make a few bucks?

    Heaven for goldbugs, a massive body count would really be a plus, gold would spike exponentially and the goldbugs would be more than satisfied, and able to say "I told you so", and blame the USA for being the 'great satan'.

    What a whizzbang deal, Petah Schift would also be more than happy.
    Last edited by Skol; 31-08-2013 at 07:02 PM.

  9. #5299
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    Quote Originally Posted by Skol View Post
    Mate JB Murc and his goldbug buddys are hoping like hell that there'll be a an attack on Syria that will set off a huge war. e.g. the USA will attack Syria, Syria will gas Israel, Israel will attack Syria, and then Iran and their religious maniac Hizbollah sycophants will also attack Israel. The Israelis will then decimate Syria and Iran and anyone else who sticks their head above the parapets.

    A nuclear explosion JB, how good would that be? Goldbugs love a bit of carnage, what better way to make a few bucks?

    Heaven for goldbugs, a massive body count would really be a plus, gold would spike exponentially and the goldbugs would be more than satisfied, and able to say "I told you so", and blame the USA for being the 'great satan'.

    What a whizzbang deal, Petah Schift would also be more than happy.
    Skoly in troubled times people turn to gold I doubt that anyone would be satisfied by the cause of getting a rise in the POG if it involved the lose of human life.The good ole USA was providing chemical weapons to Sadam Hussein that he used on the Kurds when it suited the administration of the time.
    Their greatest allies the Brits(Boston Tea Party anyone) have stood aside on this one.
    So suddenly the French have become their greatest allies (French fries renamed to Freedom fries)when was that again? and of course a backhanded slap to the Brits?When they go ahead(USA)expect rising oil price and gold rising and if none of it had happened well oil price and gold would be where?

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    Quote Originally Posted by stevo1 View Post
    The good ole USA was providing chemical weapons to Sadam Hussein that he used on the Kurds when it suited the administration of the time.
    That is a genuine load of bollocks, a conspiracy theory and a goldbug invention, bet you can't prove it, the USA destroyed their chemical weapons on Johnston Island and virtually all known chemical weapons in the USA have been disposed of.

    You're obviously a goldbug, USA hater too that blames the US for all the world's problems. That's why the USA should stay out of this one, then they can't be blamed by the world's pacifists for the carnage.

    Let them go to it, no one wants to help the Syrians do away with a dictator, so they'll have to suffer. Dictators don't resign, most come to a very sticky end and so will Al-Assad, it'll just take a few more hundred thousand casualties which I'm sure won't bother you one iota Stevo.

    Goldbugs are salivating at the thought of a huge M.E. conflict, they can't wait, that's their reason for living, their raison d'etre. Goldbug websites light up when there's the remotest chance of a conflict, North Korea, Israel attacking Iran, Iran closing the Straits of Hormuz, they love it, and the bigger the body count the better.

    Goldbugs thrive on misery and conflict, but unbeknown to them they're the ones going to be wretched because gold and silver are headed for multi-decade lows. I can't wait!

    A nuclear attack! That would be the 'gold standard' for goldbugs.
    Last edited by Skol; 01-09-2013 at 10:39 AM.

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