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Gold Price New High - Now Down A Fraction


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#1 sharpe

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Posted 08 June 2010 - 04:13 PM

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.

#2 DisQ

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Posted 08 June 2010 - 04:32 PM

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!!!

#3 plummet expert

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Posted 08 June 2010 - 04:33 PM

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.

#4 wealthy

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Posted 08 June 2010 - 04:48 PM

Shouldn't you just be pleased about your investment?

In other words, get a life :rolleyes:

#5 The Masked Tulip

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Posted 08 June 2010 - 04:51 PM

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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#6 p.p.

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Posted 08 June 2010 - 05:13 PM

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......
even a stopped clock gives the right time twice a day

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Thoughts awe hame tak awa ma fear, Sweat an bluid hide ma veil awe tears

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#7 AvidFan

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Posted 08 June 2010 - 05:24 PM

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?

#8 okaycuckoo

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Posted 08 June 2010 - 05:24 PM

RB talks alot of sense. Gold may or may not be in a bubble - who really knows?

#9 fadeaway

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Posted 08 June 2010 - 05:30 PM

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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Mulder: "...What church?"


#10 Dr Doom

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Posted 08 June 2010 - 05:31 PM

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.co...052/dc/sgpromo/
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#11 _w_

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Posted 08 June 2010 - 05:31 PM

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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#12 #1 on West side

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Posted 08 June 2010 - 05:49 PM

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 <_<

#13 Realistbear

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Posted 08 June 2010 - 06:17 PM

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...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.
CRIMBOCASTS for y/e 2013

1. The Euro will have another bad year and may hit parity with the US$ before the end of the year.
2. The Pound will not move much against the dollar (range 1.47-1.60) but is likely to regain a lot of ground verses the Euro which may not survive. US $ will be a safe bet, especially ST bonds and large caps.
3. Stocks should finish moderately higher than 2012 barring a war with Korea and Iran.
4. Gold will not be flying to the moon (again) and will bitterly disappoint (again) any who got in during the run up in 2011.
5. House prices: Flattish to up single digits overall..
6. Not much in the way of inflation again this year--those who forecast hyperinflation will be proven wrong (again--as in 2011 and 2012)
7. Could see a snap GE after the May elections which will be the worst result EVER for Dave. UKIP continue to make headway and will be number 3 before year end.

#14 OnlyMe

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Posted 08 June 2010 - 06:26 PM

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...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, 08 June 2010 - 06:28 PM.

"Asians make things and sell them to Americans, who borrow money from their suppliers (on the inflated value of their houses) in order to continue living beyond their means. Asians take their profits and either relend them to Americans...or use them to buy more productive capacity, in America and elsewhere.

For those who wonder where this trend will lead, we offer a guess: The average American will be left with a shoeshine kit and instructions on how to say 'please' and 'thank you' in Chinese...."

Bill Bonner.

Socialists want socialism for everyone else, but capitalism for themselves, while capitalists want capitalism for everyone else, but socialism for themselves.
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#15 interestrateripoff

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Posted 08 June 2010 - 06:34 PM

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.

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

 

"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

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