sharpe

Gold Price New High - Now Down A Fraction

30 posts in this topic

With gold hitting new highs in the last day or so, it has subsequently fallen a fraction.

I am just wondering if we will get another paper ramping post from HPC comedy club resident Realist Bear? Usually along the lines of "gold 300 dollars an ounce by Christmas"

Come on - these have been appearing since gold was 600 dollars an ounce.

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With gold hitting new highs in the last day or so, it has subsequently fallen a fraction.

I am just wondering if we will get another paper ramping post from HPC comedy club resident Realist Bear? Usually along the lines of "gold 300 dollars an ounce by Christmas"

Come on - these have been appearing since gold was 600 dollars an ounce.

RB famous quote was Gold will be $300 soon, I am still waiting.

I don't think many actually believe anything he says, there may well be a hidden agenda!!!

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With gold hitting new highs in the last day or so, it has subsequently fallen a fraction.

I am just wondering if we will get another paper ramping post from HPC comedy club resident Realist Bear? Usually along the lines of "gold 300 dollars an ounce by Christmas"

Come on - these have been appearing since gold was 600 dollars an ounce.

Realist Bear is right about many things, but gold going down from here is unlikley and will be short term if it does. It has all the signs of being detached from the falls in stocks. In fact it has tended to rise in the last 2 months when the Dow falls. Previously it would tag along with stocks. Many economists (bless 'em) now seem to think this.

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I think this is just a personal attack on a HPC poster.

It is one thing debating in a thread about another HPCer's views but starting a thread so that you can ridicule or hurl abuse at another HPCer is just not on IMPO.

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I think this is just a personal attack on a HPC poster.

It is one thing debating in a thread about another HPCer's views but starting a thread so that you can ridicule or hurl abuse at another HPCer is just not on IMPO.

the flip side of the coin - is RBs obsessive gold bashing verging on trolling?

what goes around......

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Gold at nearly $875/oz. Wish I'd kept mine now - I'd be absolutely loaded.

Would love to hear from the few desperate HPC'ers that threw every bit of their savings into gold. Did anyone make a fortune?

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I may disagree with RB's views on gold, but it is clear to me and many others that he is a smart person who does his research and calls things as he sees them.

I for one enjoy reading his opinions, even if they are not always aligned with my own.

On the gold subject:

I believe there is one last pullback in gold and one more bull run on the FTSE, probably before the end of june. I will be selling my stocks and putting it all in $ / Gold when that happens.

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Gold at nearly $875/oz. Wish I'd kept mine now - I'd be absolutely loaded.

Would love to hear from the few desperate HPC'ers that threw every bit of their savings into gold. Did anyone make a fortune?

A small fortune. But there is still a huge opportunity there. This is not a bubble.

Excellent DVD coming out soon, featuring gold expert Mike Maloney,

who explains very eloquently why this will be the "greatest wealth

transfer in the history of mankind" when the price eventually explodes.

http://goldsilver.com/why-gold-silver-the-movie/ref/1052/dc/sgpromo/

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the flip side of the coin - is RBs obsessive gold bashing verging on trolling?

what goes around......

It goes both ways though. Trolling in response to trolling doesn't strike me as being a constructive way forward.

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Gold at nearly $875/oz. Wish I'd kept mine now - I'd be absolutely loaded.

Would love to hear from the few desperate HPC'ers that threw every bit of their savings into gold. Did anyone make a fortune?

I guess you mean £875/oz <_<

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With gold hitting new highs in the last day or so, it has subsequently fallen a fraction.

I am just wondering if we will get another paper ramping post from HPC comedy club resident Realist Bear? Usually along the lines of "gold 300 dollars an ounce by Christmas"

Come on - these have been appearing since gold was 600 dollars an ounce.

Beware of deflation and the oversold PONZI threat and remeber gold is still worth about half the peak in 1980 (making gold the worst long term investment of all time):

http://finance.yahoo.com/news/Lower-prices-could-mean-cnnm-4270795979.html;_ylt=Ai7yECBaqGmiy5.xXjUigCu7YWsA;_ylu=X3oDMTE1dmU3MG42BHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNsb3dlcnByaWNlc2M-?x=0&sec=topStories&pos=5&asset=&ccode=

Lower prices could mean deflation and double-dip recession

Chris "Christopher" Isidore, senior writer, On Tuesday June 8, 2010, 9:05 am EDT

Lumber prices are sinking. And while that might make a trip to Home Depot cheaper, it's also a sign that the global economic recovery and the U.S. housing rebound are in danger of stalling.

Only a few months ago, inflation was the main worry of many economists. But falling prices for the raw materials of many industries, including lumber, have set off deflation warning bells for some economists, who worry that they could signal another global economic downturn.

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Beware of deflation and the oversold PONZI threat and remeber gold is still worth about half the peak in 1980 (making gold the worst long term investment of all time):

http://finance.yahoo.com/news/Lower-prices-could-mean-cnnm-4270795979.html;_ylt=Ai7yECBaqGmiy5.xXjUigCu7YWsA;_ylu=X3oDMTE1dmU3MG42BHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNsb3dlcnByaWNlc2M-?x=0&sec=topStories&pos=5&asset=&ccode=

Lower prices could mean deflation and double-dip recession

Chris "Christopher" Isidore, senior writer, On Tuesday June 8, 2010, 9:05 am EDT

Lumber prices are sinking. And while that might make a trip to Home Depot cheaper, it's also a sign that the global economic recovery and the U.S. housing rebound are in danger of stalling.

Only a few months ago, inflation was the main worry of many economists. But falling prices for the raw materials of many industries, including lumber, have set off deflation warning bells for some economists, who worry that they could signal another global economic downturn.

I really don't know what to think of the commodities market. It really has fallen very sharly and not only that it is approaching a level not seen for years. Now we know China's own manic version fo QE spurred on demand for materials and a huge wave of restocking and possibly overstocking - so the inference is that this fall may be exacerbated by that.

However the discrepancy between gold and silver and the rest of the commodities market is striking. No doubt both are not behaving more like a currency than anything to do with the commodities market - but that is not what happened historically. Mind you nothing like we have seen with arsehat stimulus to drive up assets to fake valuations only seen at the height of the bubble to bail out the banks and the stupid has ever been seen before either on a global scale.

There is little doubt that austerity measures will induce a generl reduction in demand though, whether gold and silver can remain not just decoupled but extend their decoupling remains to be seen.

Edit - With currencies being debased against the dollar for now there is no guarantee that people are going to see anything deflationary in their costs.

Edited by OnlyMe

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Gold may hold a relative value, but it may not go to the moon.

If deflation takes hold it will fall in price as there simply won't be the money to sustain the price.

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Gold may hold a relative value, but it may not go to the moon.

If deflation takes hold it will fall in price as there simply won't be the money to sustain the price.

Don't think that would necessarily be the driver - it is a small market, really doesn't need a lot of money pumped into it, just a tiny fraction of the money that is in other markets would do and more importantly people not selling what they already had.

Pretty much everything is in a bubble at the moment thanks to central bank meddling with interest rates.

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A bit off topic... but just spotted a Krugerrand for £860 plus postage on Ebay (item number 180518073002)

It s also open to bids so you might have to be quick otherwise the BIN price will go. Absolutely 100 percent not my listing (or anyone I know), just seems cheap for a krugerrand as it is exactly spot price. This is only for information... not a recommendation !!

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Don't think that would necessarily be the driver - it is a small market, really doesn't need a lot of money pumped into it, just a tiny fraction of the money that is in other markets would do and more importantly people not selling what they already had.

Pretty much everything is in a bubble at the moment thanks to central bank meddling with interest rates.

Exactly. Every pension fund, mutual fund and sovereign wealth fund is fully invested in equities, corporates, junk, long-term gilts and commercial real estate. And it's gold that's meant to be in a bubble? Just a return to 5-10% levels of gold investment would be sufficient to make this market explode.

Sure, gold might get sold again in a flight to liquidity, but then it's increasingly being perceived as liquidity! Either way I'll continue to accumulate.

Edited by 50sQuiff

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The London AM Fixing this morning was an LBMA all time high in all three major currencies:

08-Jun-10

USD 1,248.00

GBP 867.45

EUR 1,048.03

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I really don't know what to think of the commodities market. It really has fallen very sharly and not only that it is approaching a level not seen for years. Now we know China's own manic version fo QE spurred on demand for materials and a huge wave of restocking and possibly overstocking - so the inference is that this fall may be exacerbated by that.

However the discrepancy between gold and silver and the rest of the commodities market is striking. No doubt both are not behaving more like a currency than anything to do with the commodities market - but that is not what happened historically. Mind you nothing like we have seen with arsehat stimulus to drive up assets to fake valuations only seen at the height of the bubble to bail out the banks and the stupid has ever been seen before either on a global scale.

There is little doubt that austerity measures will induce a generl reduction in demand though, whether gold and silver can remain not just decoupled but extend their decoupling remains to be seen.

Edit - With currencies being debased against the dollar for now there is no guarantee that people are going to see anything deflationary in their costs.

Yeah, what he said.

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A few years ago they closed the last gold mine in Wales as it was uneconomical - the Celts and Romans had been mining there - and played out apparently.

Anyhow, they announced this week that it was being re-opened - is that a sign of a bubble?

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Beware of deflation and the oversold PONZI threat and remeber gold is still worth about half the peak in 1980 (making gold the worst long term investment of all time):

so let me get this straight:

you've selected just one 30 year period from all of time and used that as the basis that 'gold is the worst long term investment of all time'.

what about all the rest of time?

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Beware of deflation and the oversold PONZI threat and remeber gold is still worth about half the peak in 1980 (making gold the worst long term investment of all time):

http://finance.yahoo.com/news/Lower-prices-could-mean-cnnm-4270795979.html;_ylt=Ai7yECBaqGmiy5.xXjUigCu7YWsA;_ylu=X3oDMTE1dmU3MG42BHBvcwM3BHNlYwN0b3BTdG9yaWVzBHNsawNsb3dlcnByaWNlc2M-?x=0&sec=topStories&pos=5&asset=&ccode=

Lower prices could mean deflation and double-dip recession

Chris "Christopher" Isidore, senior writer, On Tuesday June 8, 2010, 9:05 am EDT

Lumber prices are sinking. And while that might make a trip to Home Depot cheaper, it's also a sign that the global economic recovery and the U.S. housing rebound are in danger of stalling.

Only a few months ago, inflation was the main worry of many economists. But falling prices for the raw materials of many industries, including lumber, have set off deflation warning bells for some economists, who worry that they could signal another global economic downturn.

Great thanks - that is perfect

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I think this is just a personal attack on a HPC poster.

It is one thing debating in a thread about another HPCer's views but starting a thread so that you can ridicule or hurl abuse at another HPCer is just not on IMPO.

I think attacking what people say is not personal and absolutely fair game.

Although from a personal viewpoint I would admit to disliking polar bears especially those with glasses.

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so let me get this straight:

you've selected just one 30 year period from all of time and used that as the basis that 'gold is the worst long term investment of all time'.

what about all the rest of time?

Still, imagine if you'd have bought tulips at the peak. You'd be kicking yourself now. That would count as an even worse investment.

They'd be starting to smell bad as well.

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