R K Posted March 20, 2008 Share Posted March 20, 2008 (edited) Hi Sossij. I double up on shorts and x3 on longs. I'm at $1450glod. So am content with my glod position thanks. Expecting a strong bounce though so have tightened stops. I'll take this profit. Edited March 20, 2008 by Red Kharma Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 20, 2008 Share Posted March 20, 2008 Another reason for gold to sink, albeit a bit more liong term: http://en.wikipedia.org/wiki/Gold_synthesis Particle accelerators require huge amounts of energy, while nuclear reactors produce energy, so only production methods utilizing a nuclear reactor are of economic interest. The artificial production of gold is the age-old dream of the alchemists. It is possible in particle accelerators or nuclear reactors. Since there is only one stable gold isotope, Au-197, nuclear reactions must create this isotope in order to produce usable gold. Gold synthesis from Mercury Gold obtained by mining has copper and silver as impurities. Gold of higher purity can be made through the photoneutron process: Mercury198 + 6.8Mev gamma ray > 1neutron + Mercury197 (half-life 2.7 days > Gold 197) These energy levels allow a more efficient neutron source than the Spallation Neutron Source. Gold synthesis in an accelerator Gold synthesis in a particle accelerator is possible in many ways. The Spallation Neutron Source has a liquid Mercury target that will be transmuted into Gold, Platinum and Iridium, which are lower in atomic number. Gold synthesis in a nuclear reactor In a nuclear reactor, gold can be manufactured by irradiation of platinum or mercury. Since platinum is more expensive than gold, platinum is economically unsuitable as a raw material. Only the mercury isotope Hg-196, which occurs with a frequency of 0.15% in natural mercury, can be converted to gold by neutron capture, and following K+- decay into Au-197 with slow neutrons. Other mercury isotopes are converted when irradiated with slow neutrons into one another or formed mercury isotopes, which beta decay into thallium. Using fast neutrons, the mercury isotope Hg-198, which is contained to 9.97% in natural mercury, can be converted by splitting off a neutron and becoming Hg-197, which then disintegrates to stable gold. This reaction, however, possesses a smaller activation cross-section and is feasible only with un-moderated reactors. It is also possible to eject several neutrons with very high energy into the other mercury isotopes in order to get the Hg-197. However such high-energy neutrons can be produced only by particle accelerators . The downside is that particle accelerators would be required to convert metals into gold and it may be a few more years before science can invent a particle accelerator. There were rumours, just rumours mind you, that such a thing has already been built somewhere very secret. But for now, officially at least, partcile accelerators are the stuff of dreams. But seriously folks, if (if) this is the big gold sell off a la 1980, it will be because the speculative bubble has burst. You cannot beat the market and all markets are cyclical meaning there is a time to buy as well as sell. If you hang on too long you loose no matter what it is you are speculating in. Its never different "this time." In the meantime, it is holding on above $900 where it may stay unless some selling kicks in: GOLD 03/20/2008 05:59 905.60 906.40 -37.30 -3.96% IMO, we could see sub $500 later this year if the market turns away from speculative investments and goes to cash in anticipation of a severe deflationary cycle which we have not had since the 1970s. But then again it may not. The only question is: do you feel lucky? Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 I sold mine in the early 900s several weeks back. Too exciting for me it was..... I am soooooooooo glad I did it now Quote Link to comment Share on other sites More sharing options...
sossij Posted March 20, 2008 Share Posted March 20, 2008 it may be a few more years before science can invent a particle accelerator. There were rumours, just rumours mind you, that such a thing has already been built somewhere very secret. But for now, officially at least, partcile accelerators are the stuff of dreams. Sigh... I give up I really do Quote Link to comment Share on other sites More sharing options...
Guest Charlie The Tramp Posted March 20, 2008 Share Posted March 20, 2008 They are trying to stop it reaching $1k an ounce, but they can`t. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted March 20, 2008 Share Posted March 20, 2008 (edited) I sold mine in the early 900s several weeks back. Too exciting for me it was.....I am soooooooooo glad I did it now Just talking to one of my outlaws who is into this stuff. He said buyers for gold are NOT paying anywhere near current market levels as it takes them too long to turn the gold around and by that time it may have dropped another $100. Its not like dumping stocks which go at the click of a mouse. Gold may prove to be only a little beter than houses in a down market. A bit sticky and hard to unload in a hurry without taking a below current market hit price-wise. I wonder if GF is buying more or seeing this as a selling opportunity??? Edit: big bounce back above $912. They wont let it stay below $1000? Edited March 20, 2008 by Realistbear Quote Link to comment Share on other sites More sharing options...
Bardon Posted March 20, 2008 Share Posted March 20, 2008 I sold mine in the early 900s several weeks back. Too exciting for me it was.....I am soooooooooo glad I did it now how much did you buy it for ? Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted March 20, 2008 Share Posted March 20, 2008 I wonder if GF is buying more or seeing this as a selling opportunity??? I hear it's the former rather than the latter. Quote Link to comment Share on other sites More sharing options...
kilroy Posted March 20, 2008 Share Posted March 20, 2008 They are trying to stop it reaching $1k an ounce, but they can`t. who are? the Hedge Funds who have been long since $650 and are now being forced liquidiators due to margin calls? Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 Just talking to one of my outlaws who is into this stuff. He said buyers for gold are NOT paying anywhere near current market levels as it takes them too long to turn the gold around and by that time it may have dropped another $100. Its not like dumping stocks which go at the click of a mouse.Gold may prove to be only a little beter than houses in a down market. A bit styicky and hard to unload in a hurry without taking a below current market hit price-wise. I wonder if GF is buying more or seeing this as a selling opportunity??? I actually barely made anything out of my holding, when factoring in the charges. It would have had to go to over 1k for me to start making significant profit. My feeling was that success of the FED's intervention in the money markets to kill off a deflationary recession is far from certain. That being the case, if they do fail, gold will tank on a biblical scale. As i was saying......way too exciting for me.... Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 how much did you buy it for ? i bought in the 850s and then again in the 870s Bairds of london.....allocated account Quote Link to comment Share on other sites More sharing options...
Bardon Posted March 20, 2008 Share Posted March 20, 2008 i bought in the 850s and then again in the 870sBairds of london.....allocated account buy again on the dip ? Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 buy again on the dip ? Nope......too chicken sh*t.......... Quote Link to comment Share on other sites More sharing options...
Guest_chris c-t_* Posted March 20, 2008 Share Posted March 20, 2008 (edited) Listening to a few on here it's like a bunch of old women cackling. I am LONG GOLD I will add to my position over any further drops into the 800's. I am utterly convinced the FED , BofE etc will do whatever it takes to keep the banking system on the rails, so the only way out of this multi-trillion-$ hole will eventually to be for the CB's to actually buy the toxic cr*p, socialise the losses, let the currencies go to hell. I now have about 40% dry powder. Did a bit more buying this am. Edited March 20, 2008 by chris c-t Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 (edited) Listening to a few on here it's like a bunch of old women cackling. I am LONG GOLD I will add to my position over any further drops into the 800's. I am utterly convinced the FED , BofE etc will do whatever it takes to keep the banking system on the rails, so the only way out of this multi-trillion-$ hole will eventually to be for the CB's to actually buy the toxic cr*p, socialise the losses, let the currencies go to hell.I now have about 40% dry powder. Did a bit more buying this am. It all comes down to the success of the FED and BOE (primarily) in their strategy.... If they win....you win If they lose....you lose good luck to you....i mean that Edited March 20, 2008 by Steve Cook Quote Link to comment Share on other sites More sharing options...
WiseBear Posted March 20, 2008 Share Posted March 20, 2008 Gold is in meltdown I think Kitco is as well, I can never seem to get a response in the last few days. Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted March 20, 2008 Share Posted March 20, 2008 Say, wouldn't it be more appropriate for this thread to be in the Precious Metals forum? Lately, gold threads seem to have been moved to the PM forum within minutes, whereas, for some reason, this one's been overlooked... Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted March 20, 2008 Share Posted March 20, 2008 Chris c-t, inflating out of a global depression will prove impossible. US rates are already at 2.25%, has it made any difference?! I admire your guts, it could end up making you very rich. However, I am staying short gold/crude/commodities! Deflationary depression here we come.. Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted March 20, 2008 Share Posted March 20, 2008 (edited) Say, wouldn't it be more appropriate for this thread to be in the Precious Metals forum?Lately, gold threads seem to have been moved to the PM forum within minutes, whereas, for some reason, this one's been overlooked... I was wondering that as well..... I think it is a little bit of "getting one's own back" by the moderators in the face of the crap they got when the moved the other thread over to the metals forum. I have some sympathy with the moderators in this respect. They didn't deserve the flak they got. Edited March 20, 2008 by Steve Cook Quote Link to comment Share on other sites More sharing options...
Bardon Posted March 20, 2008 Share Posted March 20, 2008 Say, wouldn't it be more appropriate for this thread to be in the Precious Metals forum?Lately, gold threads seem to have been moved to the PM forum within minutes, whereas, for some reason, this one's been overlooked... The OP has a seriously low member number that gives him seniority and pull around here he might even be a mod Quote Link to comment Share on other sites More sharing options...
sossij Posted March 20, 2008 Share Posted March 20, 2008 Listening to a few on here it's like a bunch of old women cackling. I am LONG GOLD I will add to my position over any further drops into the 800's. I am utterly convinced the FED , BofE etc will do whatever it takes to keep the banking system on the rails, so the only way out of this multi-trillion-$ hole will eventually to be for the CB's to actually buy the toxic cr*p, socialise the losses, let the currencies go to hell.I now have about 40% dry powder. Did a bit more buying this am. That's more like it! We're only where we were in February. I was buying then, so I'll be buying now. Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted March 20, 2008 Share Posted March 20, 2008 Let's just recap on the collapse of gold so far... By about mid-afternoon on Tuesday (UK time), just looking at the spot-price of gold, there were no signs of its imminent 'meltdown'. It was hovering around $1000/oz, sure, but when it had only just achieved $1030 for the first time in its history, and when it's practically the definition of a volatile market, this didn't seem particularly remarkable. Less than 48 hours later, its price has dropped by about 10%... Oh, wait a minute -- I missed a step... At around 2:30pm on Tuesday afternoon, 'cgnao' said: "GBP will shortly bounce and the yellow shiny stuff I can't mention is just about to be hammered. Accept the gift and get your place on the lifeboat." Spooky, eh? Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted March 20, 2008 Share Posted March 20, 2008 eye will nor ave' gossip hin this jungle...... Quote Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted March 20, 2008 Share Posted March 20, 2008 (edited) You forgot to add:7. Gold can be made efficiently and in massive quantities in particle accelerators so don't bother digging it up. No it can't. Have you any idea how much such an accelerator would cost! (not just to build, but also the ridiculous amounts of energy required to use it). Edited March 20, 2008 by InternationalRockSuperstar Quote Link to comment Share on other sites More sharing options...
Guest_chris c-t_* Posted March 20, 2008 Share Posted March 20, 2008 (edited) No it can't. Have you any idea how much such an accelerator would cost! (not just to build, but also the ridiculous amounts of energy required to use it). I can confirm this; the energy needed for one 'fill' of the LHC at CERN would power a small city for a day. It uses an entire power station's output. A proton fill at DESY in hamburg lasted a few hours and that cost EUR20,000 in electricity. Besides that NO THEY CANT MAKE GOLD in particle accellerators. I work at one sometimes; I should know. Edited March 20, 2008 by chris c-t Quote Link to comment Share on other sites More sharing options...
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