Gold

[Skol]

Hey JB, I made a extremely rare error. I have just had a look at a gold chart and it's been in a downtrend since late November, lower highs and lower lows, very bearish. A bit like NAV right?

[JBmurc]

Hey JB, I made a extremely rare error. I have just had a look at a gold chart and it's been in a downtrend since late November, lower highs and lower lows, very bearish. A bit like NAV right?

Well I brought NAV at 12c now their 16.5c only weeks later one nice bear run LOL

[airedale]

Hey JB, I made a extremely rare error. I have just had a look at a gold chart and it's been in a downtrend since late November, lower highs and lower lows, very bearish. A bit like NAV right?

Hi Skol, late November is a little over four months ago. Go right back to the four year or eight year charts for gold and then tell us about trends.





Saturday, 3 April 2010



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GCGold01/04/10 00:00


LAST:

1,126CHANGE:
11.60OPEN:
1,115HIGH:
1,129ASK:
0VOLUME:
108,481CHANGE(%):
1.04PREV:
1,115LOW:
1,112BID:
0OPEN INT:
283,090



1 Month 3 Months 6 Months 1 Year 5 Years 10 Years 15 Years Moving Averages: MACD: Stochastic:


FundamentalsTechnicalPrice RangesOther
Sector:Metals52 Wk Range:843.84 - 1227.5PE:0EPS:0Div Yield:0Market Cap:0NTA:0.0000Div Date:

MA5:1,132STO9:44:MA20:1,120MTM14:18:MA50:1,136RSI14:51:

Week High:1,147Month High:1,163Year High:1,228Week Low:1,108Month Low:1,075Year Low:844Week Change:26Month Change:1Year Change:169

ISIN: CUSIP:




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NZ sharemarket up in early trading

23 Mar 2010 10:48NZPA

Shares in NZ Refining Co gained a further 6c in early trading to reach a two-month high of 396, as they climbed away from 325 in early March, their lowest level since mid-2005. more...
NZ dollar lower as euro, Australian dollar weakens

18 Feb 2010 17:24NZPA

[STRAT]

Hey JB, I made a extremely rare error. I have just had a look at a gold chart and it's been in a downtrend since late November, lower highs and lower lows, very bearish. A bit like NAV right?

and short term it might be worth another look too

[JBmurc]

Hong Kong pulls all gold reserves from depositories in London


In a challenge to London, Asian states invited to store bullion closer to home





HONG KONG (MarketWatch) -- Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city's airport, in a move that won praise from local traders Thursday.





The facility, industry professionals said, would support Hong Kong's emergence as a Swiss-style trading hub for bullion and would lessen London's status as a key settlement-and-storage center.


"Having a central government-sponsored vault would create a situation where you could conceivably look at Hong Kong as being a hub, where metal could be traded for the region," said Sunil Kashyap, managing director at Scotia Capital in Hong Kong, adding that the facility was the first with official government backing in the region.


The Hong Kong Monetary Authority, which functions as the territory's unofficial central bank, will transfer its gold reserves stored in other vaults to the depository later this year, the Hong Kong government said in an earlier statement.


The monetary authority reported $63 million in physical gold reserves as of July 31, according to its International Reserves and Foreign Currency Liquidity statement. The authority wouldn't disclose where the reserves are held, but local media reports cited gold traders as saying that London's the most likely location.


Traders said the new depository facility could also foster new financial products, such as exchange-traded funds based on precious metals.


The 3,660-square-foot depository, located at the city's main Chek Lap Kok Airport, will serve as a "storage facility for local and overseas government institutions," according to the government statement.


Martin Hennecke, a financial advisor with the Hong Kong-based Tyche Group Ltd., said that could be appealing to regional central banks unnerved after watching the global financial system teeter on verge of implosion last year.


"Central banks are increasingly aware of the importance of having gold reserves at time of financial crisis and having it easily available at their own disposal," he said.


Meanwhile, local newspaper reports said the Hong Kong Mercantile Exchange had signed an agreement to use the depository for its physical settlement and storage needs.


Marketing efforts will be launched to convince Asian central banks to transfer their gold reserves to the Hong Kong facility, according to reports citing Raymond Lai, finance director with the Hong Kong Airport Authority.


Efforts will also be made to reach out to commodity exchanges, banks, precious-metals refiners and ETF providers, the reports said.


Management firm Value Partners planned to launch an ETF gold fund that will use Hong Kong instead of London as a repository for the gold backing the fund, local reports said Thursday.


((Reporting By Chris Oliver - Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.))

[Huang Chung]

From the Papillion Resources website (well, technically, the CLN website, as the PIR one is still under construction).

Note: PIR has been on the move, so not quite the bargain as when the report was written, but still cheap IMO.

http://www.colonialresources.com.au/...rican_gold.pdf

Some other West African goldies mentioned as well.

[Skol]

Hi Skol, late November is a little over four months ago. Go right back to the four year or eight year charts for gold and then tell us about trends.

OK, on a long term basis it looks a little like NASDAQ 2000 or Oil 2008.

I've seen the physical metal manias a couple of times in my lifetime and we've got a new generation of retail investors out there buying the stuff thinking they're going to make their fortune. When Harrods is selling physical gold in their basement you know there's a mania going on. A couple of years back Harrods was selling apartments in Dubai with a massive and very impressive mock-up. Dubai property is now down up to 70%.

Could go for a while though, bull and bear markets always go longer than you think. The notion that the fiat currencies will implode and gold will skyrocket is pie in the sky, sophisticated investors go for the US$ in times of fear. You just need to be out before the peak, because as you will all know markets generally fall a lot faster than they go up.

Anyway, because I'm going to retire in the next few years I might be a tad more cautious than some of the real punters. When I was younger I used to crank up the mortgage something fearsome and bet on shares but I've since lowered my risk profile.

Even some of the most sophisticated investors get caught up in manias.

[JBmurc]

Hey JB, I made a extremely rare error. I have just had a look at a gold chart and it's been in a downtrend since late November, lower highs and lower lows, very bearish. A bit like NAV right?

LOL yeah things are looking real bearish Skol---

NAV 21c GOLD $1161

--$2000 gold this year-----
http://www.kitco.com/ind/kitcoradio/index.html

[Skol]

As the mania reaches its peak I'm trying to think of ways to bet against gold without shorting it.

Anyone got any ideas? Buy $US I suppose, but have exposure there.

Gordon Brown lost 2 billion pounds on gold while he was the UK Treasurer. Sold 400 tons at the bottom of the market. LOL

[JBmurc]

As the mania reaches its peak I'm trying to think of ways to bet against gold without shorting it.

Anyone got any ideas? Buy $US I suppose, but have exposure there.

-Yeah I think cash ,term deposit etc you could CFD short a couple gold miners personal I wouldn't
If you do make sure you have some cash spare under the bed to buy my bottle of-- Moet-----



The biggest fraud in history

We have received several emails over the past few days asking us why we aren't covering the metals market fraud that has been exposed.

To be honest, the story requires a book, rather than a Daily Reckoning article. And it is a story that makes our stomach churn, rather than filling us with glee.

It is probably one of the most important things to inform yourself about, especially if you are interested in gold or silver.

The short version is that banks don't hold the gold they say they do. They have been issuing gold and silver certificates and charging people for storage costs on the metal, without actually holding it. The London Bullion Market Association (LBMA) holds only 1% of the gold it has outstanding in certificates, according to testimony given at a Commodities Futures Trading Commission (CFTC) hearing.

Best of all, the precious metals market has been subject to extreme and predictable manipulation.

Can you imagine what will happen if people try to take delivery on the gold they hold in certificates