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Gold Price Seen As "vulnerable" As Traders Quietly Unload


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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.

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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.

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.

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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?

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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.

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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

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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 :)

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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.

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.

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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?

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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 by Tamara De Lempicka
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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

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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

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?

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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

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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

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