Gold

[JBmurc]

Yes you're right there Skol , but what makes the POG so interesting is that it has been going up IN THE FACE of the USD strengthening. They are usually negatively corelated so imagine if the USD does start weakening , (which is what I think will start to happen soon-ish)

Yes the USD is on borrowed time or in fact FED free money time long term USD holders will be burnt to much debt not enough real GDP

Skol can't find the post I told you to sell your USD but yes I wouldn't buy USD paper you go ahead load up the truck the FED will happily keep the free money coming to keep the failed economic mess alive till the new world currency comes about...
the EURO problems been the biggest positive for the USD till the world see's the USD is in just as much trouble like many of the worlds Fiat high debt currencies

[shasta]

If you look at the chart there might be a double top, since you mention TA, and you know what that means.

Yes, & i did say i expected Gold would hit around $1250/oz then retrace, it aint always going to go up!

I used the $US weakening as a reason the gold price was going up, since the payroll figures came out the $US has strengthened.

I'm not a gold bug, if anything i'm bullish on silver

[Skol]

I'm not a gold bug, if anything i'm bullish on silver

We've had all this precious metals action but silver is still the same price it was 2 years ago.

Goldbugs keep referring to the ^HUI, (not recently though), doesn't look good.

[shasta]

We've had all this precious metals action but silver is still the same price it was 2 years ago.

Goldbugs keep referring to the ^HUI, (not recently though), doesn't look good.

Yeah, silver is like the last person to arrive at the party, but either gold is over valued or silver is under valued - take ya pick!

Very few large silver mines, most of it comes as a by product of zinc/lead mines

[JBmurc]

We've had all this precious metals action but silver is still the same price it was 2 years ago.

Goldbugs keep referring to the ^HUI, (not recently though), doesn't look good.

Yep thanks to the Naked shorters of round 200moz silver----for the last 16 yrs silver production has not got close to demand an as of recent years has been as high as 200moz+ short but thanks to government sales (all but gone now) an the huge amount recycled (which is also on the decline) added with major US bankers shorting along with the Silver Users Association (anti-free silver marketers backed by some of the worlds biggest silver consumers)has helped keep the price under control ----It's only matter of time before it breaks free

[Skol]

Yep thanks to the Naked shorters of round 200moz silver----for the last 16 yrs silver production has not got close to demand an as of recent years has been as high as 200moz+ short but thanks to government sales (all but gone now) an the huge amount recycled (which is also on the decline) added with major US bankers shorting along with the Silver Users Association (anti-free silver marketers backed by some of the worlds biggest silver consumers)has helped keep the price under control ----It's only matter of time before it breaks free

It's the banksters, right, it's someone elses fault that gold and silver aren't going through the roof.

Which banksters?
Which bank?
Which countries banksters?

Can you be a little more specific?

[JBmurc]

The USA --the country that has the world reserve an the most to lose if PGM esp Gold /silver took a more important status worldwide a the true international currency which it is.
Banks--Bank of America,JP morgan

Or how about -- DYOR ---or if your not good at that I've posted penalty on Silver Vs USD forex

[Skol]

I've done a bit of DYOR recently.

^HUI down.
Gold shares down.
XGD level pegging.
USD up.
TA not looking good on ETF's.
Double top?

Guess what's next?

[JBmurc]

How about DYOR ---on total US,UK,euro debts to GDP---What is the FED reserve --amount of silver above ground in stockpiles--profit levels of gold producers at current price levels
do some study on these might open your eyes to the whats really going on
remember it wasn't long ago you were telling me gold would not be going above 1095 an would fall as the US economy was recovering an all Gold holders will be trying to get out so they can convert to fiat currencys LOL

[Skol]

Gonna be a good day on the ASX but a bad day for the semi-useless soft metal and related shares.

Here's something for the optimists that say China is buying up gold.


June 10, 2010,
China says gold not suitable for forex holdings.
Asia Pacific Story
By Chris Oliver HONG KONG (MarketWatch) --

China's State Administration of Foreign Exchange, the regulator which oversees the nation's nearly $2.5 trillion foreign exchange stockpile, said Thursday that the gold market is too small, illiquid and volatile to be considered suitable for asset allocation, according to a Reuters report. The Reuters story cited comments that appeared in the regulator's annual forex management report for 2009, which was published on its website Thursday. Safe did not give an update on its gold holdings, which rose to 1,054 tons last year from 600 tons in 2003, as a result of purchases of local production. Safe also said in the annual report that it plans to improve the diverisfication strategy for the management of China's reserves, including the range of asset classes it believes are suitable. It did not provide details.