http://www.kitco.com/market/

Gold 03/23/2007 11:44 656.90 -6.40

Oops! was'nt it suposed to go up in times of international crisis?

All assets are capable of being manipulated - look at houses!

HAL

its gone down cos the dollar has risen (for now )

It's just trading it's range , the gulf incident is just todays excuse .

I won't be able to open my position for another couple of weeks so I need some more selling to create a nice entry point.

I have a horrible feeling that a lot of BTLers are going to be saying that after the first set of MoM negative shows up.

Great Crash 2 will not, IMO, be confined to house prices but will spread into commodities also. Gold is vulnerable because it is one of the most speculated metals out there.

This may (may) be the point where the "sell it high" boys ought to bail, take the profits and go to cash until GC2 unwinds more fully.

if the saliors were U.S. citizens things might be a little livelier.

Just had a look at the day's chart on goldseek and my conspiracy theory said that gold rallied on the news, then somebody inervened big.

Somebody is panicking at the thought of people liking gold. Thing is, their ability to intervene is limited by how much they have to sell. When that runs out, it's a whole other game.

IMTPO

No offence RB and not trying to give any advice - but have you thought of diversyfying at all?

You seem to be heavy into the USD - maybe a little gold exposure will do you good - most countries seem to be in a race to devalue their currecies - 5-10% gold as an insurance policy may ease the mind.

Unless I can guess what the Fed is doing next then I am hedging: Property 50%: Cash 40%: Gold 10%.

If property crashes then I should pick-up a very nice property with the remainder of the cash - if not then I can improve what I have and if it all goes tits up then I have somewhere to live and any appreciation in the Gold - that the plan anyway.

HAL

The truth about gold is that it is not a purely speculative commodity. Approximately 70% of mined gold is used up by the jewellery market every year. After that, there are small industrial and medical consumptions. The 'universal currency' element is relatively modest, so the forex fluctuations will only bear upon that.

I suppose it all depends upon what you consider to be wealth. If you believe that a theoretical quantity of dollars held by others in your name is wealth, you are at the mercy of politicians who may not have your own interests at heart and can print your holding into irrelevance (which may be attractive to them, if they have immense debts denominated in a currency whose supply is under their own control [the Chinese are wise to this, hence their moves to convert their theoretical money into real assets]).

If you believe solid gold grammes are wealth, you are only at the mercy of traders and miners.

Paper currencies that are printed to death never come back.

Commodities that are chased through bear country, do eventually get their day at Pamplona again.


Edited to sum up: Paper money needs our consent to exist. Gold doesn't care what we call it. A German Mark owned in 1920 is now a curious piece of print work. A gold gramme owned in Germany in 1920 is still a gramme of gold, somewhere.

Edited again to remember to write in English.

If I got into gold now wouldn't I just be buying at the top. Maybe if my savings are inflated away it would be better to have them in gold then cash even if gold is not good value at the moment.

When Gold last hit a top (1970's), it was in the $800-$900 dollar range. Adjusted for the depreciation of the dollar since the 1970's, Gold should top $2000 dollars this time. Another thing to note is that dollar is likely to loose it's hegmony in the next few years and also foreign banks will scramble to get out of it at some stage. Sterling could also suffer a similar fate.

Gold does not yet look to be anywhere near the top yet. However, don't expect the gold market to be a smooth ride. Large corrections could be the norm on the way to the top.

Have a listen to the Financial Sense Newshour and Goldseek radio. These weekend broadcasts give a lot of insight into what is going on in the Gold market.

So what?

I don't believe in the gold conspiracy too much, but have a look at the chart on Kitco today. Gold rised fast (Iran?) until NY opened. Then it was
steady, then it plunged, timely for the weekend (to scare people like RB ). It possibly sounds weired, but in fact I like it to be down there
since I get paid soon and intend to buy more.

Regarding RB's remark on gold speculation: Russia bought last week alone 205 tonnes of gold. Now, that is roughly 8-10% of annual gold
production (correct me, if I am wrong here). For your comparison, the BoE has 311 tonnes left in its vaults. Now, let's take some time and
think about that.

In a Victor Meldrew voice: "Yerrrzzzzzzzzz."

The attitude here is that our troops deserve to be captured as the occupation in Iraq and the overthrow of poor 'old Saddam who never meant to do anyone any harm and was really just a good father to 2 fine upstanding sons was illegal. Nothing like supporting the troops when the chips are down.

Where do you track gold movements such as this?

I got this piece of information from http://www.thebulliondesk.com/
Here is the actual link:

http://www.fxstreet.com/news/forex-news/ar...2d-a5e6d817cffa

I calculated the weigt myself.

The increase is for gold and currency reserves.

Doesn't say the percentage of gold so it could 50, 40 or 100 tons for all we know.

mmm, I would have thought we would have seen quite a spike if anyone had bought 205t in one go...

Obviously, this is not really the forum to discuss these kind of questions. Just a brief response from someone with possibly
a slightly different opinion:

(1) If the world wants Iraq to persist as a state, the present situation shows, that it would be best to bring back Saddam,
because only a dictator was able to surpress the controversies of the different interest groups we are seeing now.
To avoid what has happened, Iraq should have been split into three parts (Sunni, Shia, Kurd) right after the invasion. But guess
who was responsible for this artificial state first place, like many others, e.g. in Africa, where a lot of blood is shed till today.

(2) The no-show in North Korea sort of shows, this was not about bad Saddam (who was for large parts of his political life fostered by
the US).

(3) Why is the US so afraid of pain (e.g. by higher oil prices or a recession). I am so sure it is exactly this US who would cope best
with inventing the technology and resources needed to come over an conventional energy shortage or economic downturn. It's all
about politicians who fear elections.

EDIT: typos

Oops, my wishful thinking carried me away.
Sorry for being misleading!
Yes, would be interesting what they actually bought.
Tahoma is right, I was also looking for a spike, but somehow thought they might
have bought from another central bank. Anyway, now I see, the gold-% might
have been small.

Correct to a point IMHO. Comms yes but gold will decouple when it all hits the fan as it has intrisic value, perhaps uniquely.

looks like you've been caught out by the Russian Bonds Goldfinger....

Tension in Iran seems to grow. Will be interesting whether it will show in gold and if yes,
which way. Plunge would be good. Want to buy some soon.

Man thats a good post and hits the nail on the head.

also note that i think Russia will back Iran so any attack could see the world change over night and do some home work and you will find that Russian missile technology is ten years ahead of the americans.

do you buy real gold or is it paper gold cus i would like mine close to home in case things get dirty.

Gold Rush 21
global manipulation of the gold market

http://www.gata.org/node/20



Anybody seen this one?

Well, the part on the gold purchase was not correct, since we don't know the percentage of gold in that purchase (the
article talks of FX and gold). See the post after the one you cited (and sorry again). Still, it might have been a nice amount
of gold.

I only buy physical. I have some at home to play with, some at BullionVault.

Is it easy to see the gold though?

At BV? I don't think you can actually see it. What you have is your bullion statement with
how many grams you own, and in which vault (NY, London or Zurich).

Well I for one went to my room and thought about it long and hard. I then went down and apologized to my parents.

You do know he has had his neck stretched?

I was wondering if you have gold at BV is it as easy to sell it as selling shares?

Yes, got the DVD. It's ages since I watched it, but it is pretty good. It kicked off a lot of awareness of manipulation and has been GATA's biggest public event. Coincidentally, as Goldfinger mentions the Russian CB, One of Putin's advisors was at the conference in August 2005. From http://www.minersmanual.com/silverarticle.php?SA_ID=679

Some believe that Bykov's presence at Gold Rush 21 resulted in this decision in November 2005:
http://goldprice.org/news/2005/11/russian-...eserves-to.html

It is. A matter of a few mouse clicks. Have a look at their trading platform:
http://www.bullionvault.com/gold_market.do

Good film to watch: Fiat Empire

http://video.google.com/videoplay?docid=52...p;q=Fiat+Empire

Has anyone looked at gold prices the last few months? Its following the DOW exactly. BTW All financial markets are about to crash imo. SM is tracing out a precrash pattern very similar to '29 and '87.

Article on iTulip here on the feedback loop between US house prices and Gold. It's up $10 since the weekend alone.

Latest John Embry: The Time For Gold To Go Ballistic Approaches

Lol, I entered this thread to post a link to that myself. I didn't know the peak at >$800 was so short lived; we are currently at a nominal all-time sustained high.