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Barclays: Short Gold


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HOLA441

http://finance.yahoo.com/news/Gold-Prices-Pop-on-Weak-Jobs-tsmf-1536069485.html?x=0&sec=topStories&pos=main&asset=&ccode=

Gold Prices Pop on Weak Jobs Number
.
Alix Steel , On Wednesday October 6, 2010, 11:07 am EDT
NEW YORK (TheStreet) Gold prices were popping to further record highs Wednesday as
momentum buying
and currency fears pushed investors into the precious metal..../
U.S. Trust President Keith Banks, according to a report in Reuters, said that the company is not recommending gold right now because the "things driving high prices are beyond the types of things" where they can add value.
Banks is not alone in his cautious belief.
Barclays Wealth has been recommending to clients that they short the SPDR Gold Shares, the most popular physically backed
exchange-traded fund. Barclays believes that when the crisis premium comes out of the market that gold could fall to $800 an ounce. The ETF currently holds 1,301.91 tons of gold.

If Barclays say short doesn't that mean everyone should go long? :blink:

Momentum buying hasn't existed for years--piggy back buying as forward buying drags lagging shorts into long positions causing a one-way only move upwards.

I must admit I am just beginning to inch slightly toward a mildly bearish sort of postion in relation to gold.

Edited by Realistbear
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HOLA442

http://finance.yahoo.com/news/Gold-Prices-Pop-on-Weak-Jobs-tsmf-1536069485.html?x=0&sec=topStories&pos=main&asset=&ccode=

I must admit I am just beginning to inch slightly toward a mildly bearish sort of postion in relation to gold.

A property investor told me " When house prices are high, gold is low...& when Gold is high, house prices are low"

Im sure there a lots of people who traded gold for a property around 30 years ago, (I wasnt around just yet :P )

I know a a town where Gold would have been ingrained on the minds of the locals thorugh culture etc

And I kid you not, at least 35% of houses on EACH road have been on rent for at least 30 years

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HOLA443
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HOLA445
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HOLA446

I must admit I am just beginning to inch slightly toward a mildly bearish sort of postion in relation to gold.

Since when, RB?

and what were you before - ultra bearish?

Have you ever (in the last ten years) been anything BUT bearish on gold?

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HOLA447

Since when, RB?

and what were you before - ultra bearish?

Have you ever (in the last ten years) been anything BUT bearish on gold?

I am really neither bearish or bullish as I do not consider gold for my investment portfolio.

I am just not a metals investor and have a pile of silver coins because I collected them as a small child.

Its the religiosity of gold investing that intrigues me. It is hugely sentiment driven because eveyone who buys it has to sell to realise any gain. And they always sell for paper money. The other thing which is of interest is that gold crashes are always sudden and violent catching the vast majority by surprise and the next crash will be the most violent ever. It will be fun to watch from the sidelines.

$1374

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HOLA448

I am really neither bearish or bullish as I do not consider gold for my investment portfolio.

I am just not a metals investor and have a pile of silver coins because I collected them as a small child.

Its the religiosity of gold investing that intrigues me. It is hugely sentiment driven because eveyone who buys it has to sell to realise any gain. And they always sell for paper money. The other thing which is of interest is that gold crashes are always sudden and violent catching the vast majority by surprise and the next crash will be the most violent ever. It will be fun to watch from the sidelines.

$1374

So... what about your $600 peak prediction? or your 700. or 750 or 800... etc etc etc. - over the last 6 years or so.

Why should we trust the bear that cried wolf?

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HOLA449

I am really neither bearish or bullish as I do not consider gold for my investment portfolio.

I am just not a metals investor and have a pile of silver coins because I collected them as a small child.

Its the religiosity of gold investing that intrigues me. It is hugely sentiment driven because eveyone who buys it has to sell to realise any gain. And they always sell for paper money. The other thing which is of interest is that gold crashes are always sudden and violent catching the vast majority by surprise and the next crash will be the most violent ever. It will be fun to watch from the sidelines.

$1374

You do realise that the banks have SUPRESSED Gold / Silver for at least 30 years using PAPER Gold/Silver

& serious shorting... to allow the fiat scam / house price mania to grow

Surely if you believe in house prices crashing, you believe in Precious metals growing :huh:

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HOLA4410

So... what about your $600 peak prediction? or your 700. or 750 or 800... etc etc etc. - over the last 6 years or so.

Why should we trust the bear that cried wolf?

Trust? :blink:

This is a forum made up of views and opinions.

IIRC I have never, AFAIK, predicted a top, only bearish sentiment because I do not regard gold as a sane LT or even MT investment. It is far too sentiment driven and its a huge fraud when you consider the average punter thinks he has bought physical when all they are buying is a promisory note--fiat money but lacking government backing. When they sell 8,000 tons a day representing it as actual gold you know its all going to come crashing down as soon as the boys in the back room pull the plug and leave the vast majority of investors dangling in a very nasty breeze.

$1374.

BTW they are not warning against ETFs alone but the actual price per ounce:

Banks is not alone in his cautious belief. Barclays Wealth has been recommending to clients that they short the SPDR Gold Shares, the most popular physically backed exchange-traded fund. Barclays believes that when the crisis premium comes out of the market that gold could fall to $800 an ounce.

Edited by Realistbear
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HOLA4411

Trust? :blink:

This is a forum made up of views and opinions.

IIRC I have never, AFAIK, predicted a top, only bearish sentiment because I do not regard gold as a sane LT or even MT investment. It is far too sentiment driven and its a huge fraud when you consider the average punter thinks he has bought physical when all they are buying is a promisory note--fiat money but lacking government backing. When they sell 8,000 tons a day representing it as actual gold you know its all going to come crashing down as soon as the boys in the back room pull the plug and leave the vast majority of investors dangling in a very nasty breeze.

$1374.

BTW they are not warning against ETFs alone but the actual price per ounce:

Banks is not alone in his cautious belief. Barclays Wealth has been recommending to clients that they short the SPDR Gold Shares, the most popular physically backed exchange-traded fund. Barclays believes that when the crisis premium comes out of the market that gold could fall to $800 an ounce.

Agree PAPER gold will crash :)

Physical... it will only have to be repriced once, that will be more than enough for my lifetime :)

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HOLA4412
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HOLA4413

Barclays believes that when the crisis premium comes out of the market etc...

So when will that be then? When the US dollar and US system has been completely destroyed?

Gold is due a correction - and it could be a large one. Buy on weakness.

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HOLA4414

I am really neither bearish or bullish as I do not consider gold for my investment portfolio.

:lol:

Yet somehow you always seem to dig up what you perceive to be a negative article for PM's!

Can anyone here say PHYSICAL shortage??

Only the blind are missing the currency race to the bottom.

Edited by spp
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HOLA4416

I am really neither bearish or bullish as I do not consider gold for my investment portfolio.

I am just not a metals investor and have a pile of silver coins because I collected them as a small child.

Its the religiosity of gold investing that intrigues me. It is hugely sentiment driven because eveyone who buys it has to sell to realise any gain. And they always sell for paper money. The other thing which is of interest is that gold crashes are always sudden and violent catching the vast majority by surprise and the next crash will be the most violent ever. It will be fun to watch from the sidelines.

$1374

What's the saying again?

"A bubble is a bull market that you do not hold a position in".

I think that's it. :lol:

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HOLA4417
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HOLA4418

Agree PAPER gold will crash :)

Physical... it will only have to be repriced once, that will be more than enough for my lifetime :)

Exactly, the paper markets outweighs the physical 100-1 and reportedly many large buyers are asking to have their paper contracts settled with the physical stuff, hence some very strange physical gold transactions between the LBMA, ECB, Deutsche Bank, BIS, BoA etc. that have taken place in recent weeks and months.

Paper gold is the booster rocket sitting underneath the moon shot. 10...9...8...7...

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HOLA4419

http://finance.yahoo.com/news/Gold-Prices-Pop-on-Weak-Jobs-tsmf-1536069485.html?x=0&sec=topStories&pos=main&asset=&ccode=

Gold Prices Pop on Weak Jobs Number
.
Alix Steel , On Wednesday October 6, 2010, 11:07 am EDT
NEW YORK (TheStreet) Gold prices were popping to further record highs Wednesday as
momentum buying
and currency fears pushed investors into the precious metal..../
U.S. Trust President Keith Banks, according to a report in Reuters, said that the company is not recommending gold right now because the "things driving high prices are beyond the types of things" where they can add value.
Banks is not alone in his cautious belief.
Barclays Wealth has been recommending to clients that they short the SPDR Gold Shares, the most popular physically backed
exchange-traded fund. Barclays believes that when the crisis premium comes out of the market that gold could fall to $800 an ounce. The ETF currently holds 1,301.91 tons of gold.

If Barclays say short doesn't that mean everyone should go long? :blink:

Momentum buying hasn't existed for years--piggy back buying as forward buying drags lagging shorts into long positions causing a one-way only move upwards.

I must admit I am just beginning to inch slightly toward a mildly bearish sort of postion in relation to gold.

How many inches to go? Would like to know since I've got a lot of old gold chains etc. I wouldn't mind flogging. :)

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HOLA4420

Indeed, just give me that $800 an ounce opportunity! PLEASE!!!

This is what the furry one doesn't seem to grasp...The physical will be sucked straight off the market!

Maybe we should start posting a positive PM article everytime the furball gets his pom poms out.

Paper GOLD TO $200!!

p.s Try buying any physical!

edit: a positive article based on fundamentals and not furry paper pipe dreams.

Have you had fun being wrong and watching it rise all these years RB?

Edited by spp
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HOLA4421

With regard to the topic, this month sees the biggest net short position against gold that has ever been held. Who's holding it, the usual suspects, JPM, HSBC, Barclays etc. Why? Because gold is the single biggest threat to the fiat system which they leech off.

They are the reason that gold crashed in dollar terms in 2008, as net short futures are factored into the spot price and they went short big time a few months before Lehman and all the sh1t went down to prevent everything falling apart in gold's favour then. That is the only time the trick worked, but they don't stop trying.

They can try, but all that will happen is they'll end up having to cover their positions when the market goes against them for the umpteenth time. But hey, the tax payer will cover their losses, so no big deal.

Anyway, keep at it RealistBear, would be awfully dull not to have anyone to spar with on here.

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HOLA4422

Its the religiosity of gold investing that intrigues me. It is hugely sentiment driven because eveyone who buys it has to sell to realise any gain. And they always sell for paper money.

There is another way to look at it which I picked up from a piece written by someone who called himself A.N.Other (legendary in the goldbug world). You might find it intriguing and runs along the following lines: "Give the current madness another couple of years: what will prompt you to give up your scarce tangible assets when people try to sell you their paper money?"

If you completely reverse your point of reference you can see paper money for what it really is, in all its glory: worthless sh*te.

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HOLA4425

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