Gold

[peat]

Maybe not to $3,000...

yahoo quoted gold at 3,500 for a few seconds overnite heheh

Some speculate error was secret signal to indicate where precious metal is really heading
http://www.prisonplanet.com/investor...d-to-3400.html

[elZorro]

Hi Peat, wishful thinking, just a typo (a big one) by yahoo..
JB, bet that silver pile looks fairly clever right now.

I have just found this page of data about gold. It answers all those tricky questions Skol drags up just when we're getting optimistic
1) goldmining production is dropping back
2) ETF funds have some increasing gold hoards, but not a great deal in total yet.
3) The extra demand each year has been already increasingly coming from melting down of jewellry and other secondary reintroductions of gold to the market.
4) For eight years or more, there has been solid demand for gold, leading to price increases, a very long positive run.
5) Market jitters have led to reduced demand for gold jewellry worldwide, but use in electronics has increased.

I can only assume from all this that there is a net increase in gold contained in vaults.

[JBmurc]

yep just got 2kg .999 silver bar turn up the other day got it off Trademe for an absolute steal(what drop kick would think we are in a bubble when trademe's 2mill members allow me to buy under spot LOL) at just under $25per oz current NZ silver spot $27.50 unlike Gold that had a brief pull back Silver just took a quick breath an keeped going up only 15c from $20oz USD ---I can't find any silver bullion bargains today
both my Silver an Gold shares looking much more bullish depth wise -SVL.ARD.NAV have an average growth round 50% so far on purchase prices with so much more to come....

looking forward to the new year celebrations thanks to SKOL kindness not long to go now

---

[elZorro]

I noticed that JB, which is the correction silver buffs are looking for, a restoration of the value of silver relative to gold. Here's the Kitco page on silver, showing that demand for silver has returned to be strongly positive, after being in the doldrums. Production has increased, but so has use in hedge funds.

[Skol]

JB,
Are you sure you haven't paid too much?
Just had a look at TradeMe silver and nothing's selling.

When the bell rings it's going down a lot faster than it's been going up.

Do they teach punctuation in Queenstown?

NAV-bullish? Are we looking at the same stock exchange?

[JBmurc]

I noticed that JB, which is the correction silver buffs are looking for, a restoration of the value of silver relative to gold. Here's the Kitco page on silver, showing that demand for silver has returned to be strongly positive, after being in the doldrums. Production has increased, but so has use in hedge funds.

yeah funny the numbers kitco give are different to the Silver institute an many others are different yet again what they all show is mine production is many million of oz less than demand
when you add in the fact Silver mineralisation decreases at depth an the fact 90% of the worlds believed minable silver mineralisation has been dug up an used up.
the price ratio of Gold to silver should well head to much lower numbers 15 or less rather than the crazy 60+ add in a higher GOLD price a--------$100oz silver price is only a matter of time an IMHO will be breached this decade

[Skol]

JB,
If you bought silver in 1919, you would have attained the phenomenal rate of 3% return.(No dividends of course). However it's done better in the last 10 years, so 1919 to 1999 is less than 2%.
So you might say silver is due for a big correction, historically should be worth around $8.
Better than gold though which has been around 1% return since 1900.
You'd have been much better off with a selection of stocks which pretty much matched the DJIA.

Historically, gold should be about $650, silver about $8, so a 50% correction for both would be in order.

Maybe history's got it all wrong JB and we're in a 'new paradigm', like 1987 or NASDAQ 2000.

[peat]

JB,
If you bought silver in 1919, you would

... quite likely be dead by now

[JBmurc]

Historically, gold should be about $650, silver about $8, so a 50% correction for both would be in order.

so you really think Gold & silver will retrace to these above levels LOL an when do think this will happen end of last year you were calling for a massive fall of GOLD from the bubble $1090 levels for this year.....
there is a massive bubble out there it's called the Debt bubble next year we will see it come back in to stir things up

[Skol]

Historically, gold should be about $650, silver about $8, so a 50% correction for both would be in order.

so you really think Gold & silver will retrace to these above levels LOL an when do think this will happen end of last year you were calling for a massive fall of GOLD from the bubble $1090 levels for this year.....
there is a massive bubble out there it's called the Debt bubble next year we will see it come back in to stir things up

Why not?
Bubbles don't need reason, they just need lots of gutsy punters to front up with cash.
In 1980 silver retraced 77% and gold 65%, so 50% isn't out of the question.