MrFlibble Posted May 8, 2012 Share Posted May 8, 2012 I'm readily funds if Gold slips to $1450. It's starting to come apart. If Europe blows up the price could go anywhere (downwards), wouldn't be surprised to see it half in price one day, followed by it double the next as the entire spare stock is bought by the Chinese. Just wait until this currency crisis moves into the USD, the EURO is just the appetizer. Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted May 8, 2012 Share Posted May 8, 2012 It's starting to come apart. If Europe blows up the price could go anywhere (downwards), wouldn't be surprised to see it half in price one day, followed by it double the next as the entire spare stock is bought by the Chinese. Just wait until this currency crisis moves into the USD, the EURO is just the appetizer. Dear Mr Flibble, Do you still have those reserves ready for your sub £900 target gold? Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted May 8, 2012 Share Posted May 8, 2012 (edited) Gold just dropped off a cliff $24.00! One has to have to be laid back about these things and a sense of humour, with the election results and more doubt about the euro last weekend, I expected gold to get whacked, even when it should be doing the opposite, I have seen it so many times More discount price gold. Some 2012 sovereigns for me. Edited May 8, 2012 by Take Me Back To London! Quote Link to comment Share on other sites More sharing options...
Errol Posted May 8, 2012 Share Posted May 8, 2012 (edited) Starting to get a bit more interesting now. Still not low enough in GBP though. Ideally, would want a couple of hundred lower at least (fingers crossed). Edited May 8, 2012 by Errol Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted May 8, 2012 Share Posted May 8, 2012 Dear Mr Flibble, Do you still have those reserves ready for your sub £900 target gold? I do indeed Sir I keep hearing a lot these days about having 'dry powder' ready, starting to understand why... £997 at the minute and doesn't look to have the legs to hold either. Still it's hardly surprising, everyone and their mother is out bad mouthing Gold. It's going to get real ugly... $1600 is going to be taken out soon too... Quote Link to comment Share on other sites More sharing options...
Errol Posted May 8, 2012 Share Posted May 8, 2012 (edited) Interesting that China seems to be buying in massive size. For what purpose, I wonder ... China Quietly Building Gold Reserves As Gold Imports From HK Soar By 587% In First Quarter The purchases through Hong Kong may signal that the mainland is accumulating reserves, London-based brokerage Sharps Pixley Ltd. said. The nation last made its reserves known more than two years ago, stating them at 1,054 tons http://www.zerohedge.com/news/uncivilized-china-quietly-building-gold-reserves-gold-imports-hk-soar-587-first-quarter Edited May 8, 2012 by Errol Quote Link to comment Share on other sites More sharing options...
R K Posted May 8, 2012 Share Posted May 8, 2012 $1614, as expected $1598 there's $40 of it just in one session Quote Link to comment Share on other sites More sharing options...
R K Posted May 8, 2012 Share Posted May 8, 2012 One has to have to be laid back about these things and a sense of humour, with the election results and more doubt about the euro last weekend, I expected gold to get whacked, even when it should be doing the opposite, I have seen it so many times More discount price gold. Some 2012 sovereigns for me. are you in any way connected to the gold markets, or moneyweek? Quote Link to comment Share on other sites More sharing options...
R K Posted May 8, 2012 Share Posted May 8, 2012 Interesting that China seems to be buying in massive size. For what purpose, I wonder ... China Quietly Building Gold Reserves As Gold Imports From HK Soar By 587% In First Quarter The purchases through Hong Kong may signal that the mainland is accumulating reserves, London-based brokerage Sharps Pixley Ltd. said. The nation last made its reserves known more than two years ago, stating them at 1,054 tons http://www.zerohedge...7-first-quarter because no-ones going to buy their RMB debt from them unless it's got something backing it apart from a corrupt communist state. Long USD/Short RMB (and gold) Quote Link to comment Share on other sites More sharing options...
R K Posted May 8, 2012 Share Posted May 8, 2012 $1598 there's $40 of it just in one session $1594 bye bye gold, bye bye Quote Link to comment Share on other sites More sharing options...
Errol Posted May 8, 2012 Share Posted May 8, 2012 bye bye gold, bye bye LOL! If you've really got nothing better to do than post this sort of nonsense, you must be very bored. Still, I suppose it gives everyone a good laugh. It certainly made me smile. Quote Link to comment Share on other sites More sharing options...
warpig Posted May 8, 2012 Share Posted May 8, 2012 One day I hope someone is held personally accountable for these take downs, they're giving our gold away at bargain basement prices. Wealth is migrating East and the West is helping them carry the loot. Thankfully I saw this one coming, it was either a take down or a good old fashioned moon shot, as the charts were painted with an inverse head and shoulders and flag formation, not good for central banks. Keep your eyes on the COMEX registered inventory. When the dust settles which may be as low as $1,200 although I seriously doubt it will fall that far, I am buying the miners with both fists. There may be a bull trap around $1,565. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted May 8, 2012 Share Posted May 8, 2012 Long USD/Short RMB (and gold) Are you long USD, short Gold? If so you'll be smiling right now... $40 drop is a tasty profit, although we've seen $100 in a day a couple of times now and on less severe news too, in fact on no news if I remember correctly. Quote Link to comment Share on other sites More sharing options...
R K Posted May 8, 2012 Share Posted May 8, 2012 LOL! If you've really got nothing better to do than post this sort of nonsense, you must be very bored. Still, I suppose it gives everyone a good laugh. It certainly made me smile. So you've abandoned your $14nn call now have you? My calls are consistent, timely and correct - laugh away. You're the one holding the crashing ponzi asset. Gold $1000-1250 (but mean down around $700 or so) Silver $18-20 - it has already given up $20 of that. Quote Link to comment Share on other sites More sharing options...
JohnLennon Posted May 8, 2012 Share Posted May 8, 2012 So you've abandoned your $14nn call now have you? My calls are consistent, timely and correct - laugh away. You're the one holding the crashing ponzi asset. Gold $1000-1250 (but mean down around $700 or so) Silver $18-20 - it has already given up $20 of that. Do you understand by how much they have increased the money supply in the last 10 years? Gold isn't going up. The value of all currencies is crashing! Because they are debt/GDP based and growth is pretty much restricted to QE. We are in a depression FFS Gold may well fall in the short term as traders (and even countries) have to cover other positions. But gold is not a sh1tty promise, it is the ultimate store of value alongside Land. 1.4 billion people in China understand this, so why can't most westerners? Quote Link to comment Share on other sites More sharing options...
Errol Posted May 8, 2012 Share Posted May 8, 2012 (edited) So you've abandoned your $14nn call now have you? My calls are consistent, timely and correct - laugh away. You're the one holding the crashing ponzi asset. Gold $1000-1250 (but mean down around $700 or so) Silver $18-20 - it has already given up $20 of that. LOL again. I can't help but feel you have some kind of axe to grind. I've not abandoned anything. I've said on this thread on several occasions that I wouldn't be surprised to see the paper exchange price of gold go close to zero. Equally it could shoot up at any time. Price is essentially irrelevant to me. I'm not investing - I'm preparing for paper money collapse (and have been seen around 2001). To that end the only thing that concerns me is the number of ounces. Your 'calls', such as they are, are pointless (trading in this environment is far too risky). Doubtless you said the same thing when gold crashed from $800 to $500 or in 2008 etc etc. You don't seem to understand that massive volatilty is going to be the ruler of this market - up and down. Edited May 8, 2012 by Errol Quote Link to comment Share on other sites More sharing options...
warpig Posted May 8, 2012 Share Posted May 8, 2012 Until we see the end of negative real interest rates and geopolitical calm, then gold is the only asset that makes sense. Anyone that thinks IR's will rise in the next 18-24 months hasn't put 2 and 2 together. My advice, is wait for confirmation of the bottom and then BTFD. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted May 8, 2012 Share Posted May 8, 2012 Starting to get a bit more interesting now. Still not low enough in GBP though. Ideally, would want a couple of hundred lower at least (fingers crossed). Whenever the price drops you never buy, you just say you are hoping it goes lower. When it was off $1,900 you had your fingers crossed for the $1,600 available today Posted 07 September 2011 - 07:12 PM This is looking like a much better fall now. If it can follow up with another couple of hefty falls we might (if we're lucky) get closer to $1600 Just before the $1,900 top you were tipping GDX at $64 now $42? Posted 03 September 2011 - 12:58 PM Those looking for exposure to gold shares (juniors and majors) - take a look at two ETFs: GDX and GDXJ. Just understand that these are not a substitute for your physical gold position. Longer term target for GDX is $150+ (currently at $64.9). You still haven't really jumped in yet have you? Make sure you post when you actually do Quote Link to comment Share on other sites More sharing options...
Deckard Posted May 8, 2012 Share Posted May 8, 2012 Whenever the price drops you never buy, you just say you are hoping it goes lower. When it was off $1,900 you had your fingers crossed for the $1,600 available today Just before the $1,900 top you were tipping GDX at $64 now $42? You still haven't really jumped in yet have you? Make sure you post when you actually do Like all savvy investors, he's waiting for the Indian marrying season Quote Link to comment Share on other sites More sharing options...
roman holiday Posted May 8, 2012 Share Posted May 8, 2012 (edited) One has to have to be laid back about these things and a sense of humour, with the election results and more doubt about the euro last weekend, I expected gold to get whacked, even when it should be doing the opposite, I have seen it so many times More discount price gold. Some 2012 sovereigns for me. Yes, there are various factors at play with the shorter term price of gold. While the 'fundamentals' are likely to push the price higher along its long term trend, in the shorter term, in periods of deleveraging, 'market dynamics' will see gold sold off along with most markets as investors/ hedge funds etc cover there speculative shorts on the dollar. I think that sounds a bit more respectable than the continual siren call of manipulation. Edited May 8, 2012 by roman holiday Quote Link to comment Share on other sites More sharing options...
warpig Posted May 9, 2012 Share Posted May 9, 2012 Are you trying to tell me you don't believe the gold and silver markets are manipulated? I think that sounds a bit more respectable than the continual siren call of manipulation. Quote Link to comment Share on other sites More sharing options...
abroad Posted May 9, 2012 Share Posted May 9, 2012 What is interesting is the decoupling of Mining stocks from gold price.......personally I'm converting my Euros to Gold but that is a differnt driver. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted May 9, 2012 Share Posted May 9, 2012 The 'takedown' in price of gold, that sees sub £1000 an ounce for the first time since last August, leaves a credibility gap in the manipulation argument. Why take the price down deliberately, when it is falling naturally, and has been since we kissed £1200 an ounce 10 months ago. ..._ Quote Link to comment Share on other sites More sharing options...
abroad Posted May 9, 2012 Share Posted May 9, 2012 Risk of another major QE exercise 'appears' to be gone so the devaluation risk of currency is 'gone' so gold price is coming down as devaluation risk drops.....that is why I think gold price is dropping. I cannot explain why miners are dropping faster except potentially a precursor to gold price drops. However I just don't see that it can fall massively in the current uncertain environment in Europe. Quote Link to comment Share on other sites More sharing options...
warpig Posted May 9, 2012 Share Posted May 9, 2012 It wasn't falling naturally, it was consolidating, this is normal. Extremely bullish patterns were forming in the charts and unless the manipulators acted, it would have spiked much higher. Why take the price down deliberately, when it is falling naturally, and has been since we kissed £1200 an ounce 10 months ago...._ Quote Link to comment Share on other sites More sharing options...
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