Realistbear Posted September 28, 2009 Share Posted September 28, 2009 http://uk.biz.yahoo.com/28092009/325/gold-...vulnerable.html Monday September 28, 04:10 PM Gold steadies above $990, seen vulnerable By Humeyra Pamuk and Veronica Brown LONDON (Reuters) - Gold clawed higher on Monday after slipping below $990 per ounce, with currency factors dominating direction, but the market remained vulnerable to fresh losses after speculators lightened positions last week. Spot gold stood at $994.55 an ounce by 3:39 p.m., slightly up from $990.95 an ounce late in New York on Friday, when gold hit a two-week low of $984.70 an ounce. Some will recalll that gold is not a one way bet. Chartists know that a triple top is more often than not a sell signal. The reality that the recession is going to get worse in the coming years may be suggesting that prices may not rise and that unemployment might send prices down sharplydeflating the bubble. Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted September 28, 2009 Share Posted September 28, 2009 sounds like the ramblings of someone bitter about not buying gold when it was cheap Quote Link to comment Share on other sites More sharing options...
Injin Posted September 28, 2009 Share Posted September 28, 2009 http://uk.biz.yahoo.com/28092009/325/gold-...vulnerable.htmlMonday September 28, 04:10 PM Gold steadies above $990, seen vulnerable By Humeyra Pamuk and Veronica Brown LONDON (Reuters) - Gold clawed higher on Monday after slipping below $990 per ounce, with currency factors dominating direction, but the market remained vulnerable to fresh losses after speculators lightened positions last week. Spot gold stood at $994.55 an ounce by 3:39 p.m., slightly up from $990.95 an ounce late in New York on Friday, when gold hit a two-week low of $984.70 an ounce. Some will recalll that gold is not a one way bet. Chartists know that a triple top is more often than not a sell signal. The reality that the recession is going to get worse in the coming years may be suggesting that prices may not rise and that unemployment might send prices down sharplydeflating the bubble. Central bankers (and their shills) want to suppress the price of gold, they fear the reality of something they can't create at whim and will. Quote Link to comment Share on other sites More sharing options...
RandomBear Posted September 28, 2009 Share Posted September 28, 2009 Shhh now. Gold in dollar terms, maybe goes down a little. Gold in GBP terms I'm still fairly bullish. Quote Link to comment Share on other sites More sharing options...
barrabus Posted September 28, 2009 Share Posted September 28, 2009 What would you prefere to hold 100.000 $ bills or 100,000 $ worth of gold coins ? i think i would go for the gold.for the foreseeable future Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted September 28, 2009 Share Posted September 28, 2009 I bought at $400 so like the girl with no fanny, I couldn't give a fook . Quote Link to comment Share on other sites More sharing options...
Realistbear Posted September 28, 2009 Author Share Posted September 28, 2009 If everyone who has bought gold "on paper" these past few years placed a call for the real stuff we might dioscover that the gold market is as much a ponzi as property was. The "fiat" or declaration as to the value of gold may, in large measure, be based on demand and sales on paper. Some have even suggested that gold has been "oversold" hundreds of times over given the amount in existance and being mined. Could this slowly dawning fear that gold may be the victim of yet another Ponzi cause a rush to sell? Or are we in a new paradigm and gold is the true one-way bet? Quote Link to comment Share on other sites More sharing options...
Injin Posted September 28, 2009 Share Posted September 28, 2009 If everyone who has bought gold "on paper" these past few years placed a call for the real stuff we might dioscover that the gold market is as much a ponzi as property was. The "fiat" or declaration as to the value of gold may, in large measure, be based on demand and sales on paper. Some have even suggested that gold has been "oversold" hundreds of times over given the amount in existance and being mined.Could this slowly dawning fear that gold may be the victim of yet another Ponzi cause a rush to sell? Or are we in a new paradigm and gold is the true one-way bet? Nope. It's central bankers (and their shills) trying to jawbone a bit more time out of their worthless shite. Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted September 28, 2009 Share Posted September 28, 2009 If everyone who has bought gold "on paper" these past few years placed a call for the real stuff we might dioscover that the gold market is as much a ponzi as property was. The "fiat" or declaration as to the value of gold may, in large measure, be based on demand and sales on paper. Some have even suggested that gold has been "oversold" hundreds of times over given the amount in existance and being mined.Could this slowly dawning fear that gold may be the victim of yet another Ponzi cause a rush to sell? Or are we in a new paradigm and gold is the true one-way bet? were that the case, there would be a major disconnect between physical and paper prices Quote Link to comment Share on other sites More sharing options...
Rachman Posted September 28, 2009 Share Posted September 28, 2009 I bought at $400 so like the girl with no fanny, I couldn't give a fook .what in 2004. And it's just over doubled. Or, do you mean 1985, since when it's just over doubled.It's amazing how all the internet people all buy and sell at the perfect time..... as for ramblings of not buying when cheap - what you mean like the ramblings of people who failed to buy houses when they were cheap Quote Link to comment Share on other sites More sharing options...
dr ray Posted September 28, 2009 Share Posted September 28, 2009 http://uk.biz.yahoo.com/28092009/325/gold-...vulnerable.htmlMonday September 28, 04:10 PM Gold steadies above $990, seen vulnerable By Humeyra Pamuk and Veronica Brown LONDON (Reuters) - Gold clawed higher on Monday after slipping below $990 per ounce, with currency factors dominating direction, but the market remained vulnerable to fresh losses after speculators lightened positions last week. Spot gold stood at $994.55 an ounce by 3:39 p.m., slightly up from $990.95 an ounce late in New York on Friday, when gold hit a two-week low of $984.70 an ounce. Some will recalll that gold is not a one way bet. Chartists know that a triple top is more often than not a sell signal. The reality that the recession is going to get worse in the coming years may be suggesting that prices may not rise and that unemployment might send prices down sharplydeflating the bubble. I've come to conclusion that in the long term gold is a one way bet for Sterling holders. Over time our currency must devalue so that our wages are the equivalent of a chinese or indian worker in order to have a competitive manufacturing industry. Sure wages in Asia will rise but it will still mean a big fall in Sterling. If the Chinese and Indians don't lose their taste for gold they will have as much money as us to buy it with and it will be extraordinarily expensive to buy gold in Sterling. I really don't care very much what the short term speculators are doing and any drop in price will have me step up my buying. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted September 28, 2009 Share Posted September 28, 2009 Realist Bear, I hope that paper gold is a ponzi. That would push gold up, not down. Then you would never see gold at pre 2006 prices. Quantitative posting is not a sign of quantitative brain cells it seems. Quote Link to comment Share on other sites More sharing options...
chris25 Posted September 28, 2009 Share Posted September 28, 2009 I own gold and couldn't give a shite if it goes to $500. Because, I know that long term fiat currency is fooked, whereas my gold will still have value in 200 years time. Look at the saxon gold they found last week, 100's of years old and still holding its value. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted September 28, 2009 Author Share Posted September 28, 2009 were that the case, there would be a major disconnect between physical and paper prices Do you mean that there should be 2 markets? One for the physical and one for the paper (or "fiat" gold)? How would that work as surely anyone buying the paper would be foolish unless it was backed by the physical. The problem then becomes one of trust. Can you rely on the paper to give you the physical and at what stage would you call for the physical? I think we are basically using the same argumets for paper curency that was once backed by gold or silver. The idea was that, in theoiry, you could call for the physical. But no one ever did, or could. Thus paper gold may be worthless if there was a call? If this fear should spread might it bring the price of the phyiscal down as there is no way of determining the difference between the two? Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted September 28, 2009 Share Posted September 28, 2009 (edited) If everyone who has bought gold "on paper" these past few years placed a call for the real stuff we might dioscover that the gold market is as much a ponzi as property was. The "fiat" or declaration as to the value of gold may, in large measure, be based on demand and sales on paper. Some have even suggested that gold has been "oversold" hundreds of times over given the amount in existance and being mined.Could this slowly dawning fear that gold may be the victim of yet another Ponzi cause a rush to sell? Or are we in a new paradigm and gold is the true one-way bet? at the moment there is a good chance gold will develop into the next major bubble but id think theres a good few years till that happens. You will know when gold is nearing its ultimate peak price because you will probably see a raft of mickey mouse mining companies having IPO's Edited September 28, 2009 by Tamara De Lempicka Quote Link to comment Share on other sites More sharing options...
1888 Posted September 28, 2009 Share Posted September 28, 2009 were that the case, there would be a major disconnect between physical and paper prices absolutely the case RB u are off your trolley M8 it has always been the case amongst the gold bugs that physical is the only way to invest in gold ,if it is uncovered that EFT's are oversold 10x over and I for one believe that this is the case then the price of physical shall .....anyone got a rocket picture paper gold will be as valuable as $1 note from Zimbabwe Quote Link to comment Share on other sites More sharing options...
Realistbear Posted September 28, 2009 Author Share Posted September 28, 2009 absolutely the caseRB u are off your trolley M8 it has always been the case amongst the gold bugs that physical is the only way to invest in gold ,if it is uncovered that EFT's are oversold 10x over and I for one believe that this is the case then the price of physical shall .....anyone got a rocket picture paper gold will be as valuable as $1 note from Zimbabwe THe problem is how do you tell the difference between the physical and the paper? That is, unless you have the physical in your hand or safe? Quote Link to comment Share on other sites More sharing options...
xux42 Posted September 28, 2009 Share Posted September 28, 2009 ,if it is uncovered that EFT's are oversold 10x over and I for one believe that this is the case Based on what? Paranoia? Proof please. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted September 28, 2009 Share Posted September 28, 2009 THe problem is how do you tell the difference between the physical and the paper? That is, unless you have the physical in your hand or safe? Are you saying that a crinkly piece of paper, and a lump of heavy gold coloured metal are indistinguishable to you. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted September 28, 2009 Share Posted September 28, 2009 (edited) Are you saying that a crinkly piece of paper, and a lump of heavy gold coloured metal are indistinguishable to you. have you never wiped your ass with a golden ingot accidently before realising , i thought everyone had Edited September 28, 2009 by Tamara De Lempicka Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted September 28, 2009 Share Posted September 28, 2009 have you never wiped your ass with a golden ingot accidentally before realising , i thought everyone had No, but when Mrs.D gets back from the deed box in the bank, she better be in a fun mood. Quote Link to comment Share on other sites More sharing options...
1888 Posted September 28, 2009 Share Posted September 28, 2009 Based on what? Paranoia?Proof please. no proof I'm just rather sceptical of the way the market is manipulated constantly and how the Fed has fought every inch of the way to deny Ron Pauls call to audit the US gold reserves EFT's are based on you trusting bankers giving you their word of honour they actually possess that bullion my trust in these people has gone completely if thats paranoia then YUP! I'm paranoid Quote Link to comment Share on other sites More sharing options...
1888 Posted September 28, 2009 Share Posted September 28, 2009 THe problem is how do you tell the difference between the physical and the paper? That is, unless you have the physical in your hand or safe? jingle jingle Quote Link to comment Share on other sites More sharing options...
I Told You So Posted September 28, 2009 Share Posted September 28, 2009 Unless you gold bears believe that there will be a magical recovery in the $ then Au will continue to rise along with silver/oil. And when you take into consideration the endless money printing by helicopter Ben any recovery in the $ is an impossibility. Just take a look at the US$ index pleeeeeeeeeeaaaaaasssssseeeeeeeeee Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted September 28, 2009 Share Posted September 28, 2009 no proof ........................................! I'm paranoid Calm down dear, it's just another conspiracy theory. Quote Link to comment Share on other sites More sharing options...
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