exiges Posted January 25, 2011 Share Posted January 25, 2011 (edited) I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? Edited January 25, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Share Posted January 25, 2011 (edited) I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? http://www.xtranormal.com/watch/8285688/ start with this Edited January 25, 2011 by richyc Quote Link to comment Share on other sites More sharing options...
Charlie The Tramp Returns Posted January 25, 2011 Share Posted January 25, 2011 Go to Alaska where you can pan for Gold off the beach and earn up to $1k a day once you get the experience and skill, then like the local visiting Prospectors convert it into fiat money. Quote Link to comment Share on other sites More sharing options...
fallingbuzzard Posted January 25, 2011 Share Posted January 25, 2011 Infinite supply I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Share Posted January 25, 2011 Infinite supply yes, I cant walk around my garden without tripping on nuggets Quote Link to comment Share on other sites More sharing options...
Charlie The Tramp Returns Posted January 25, 2011 Share Posted January 25, 2011 yes, I cant walk around my garden without tripping on nuggets Dig down one hundred feet and you could become a very rich person. Quote Link to comment Share on other sites More sharing options...
SpectrumFX Posted January 25, 2011 Share Posted January 25, 2011 (edited) I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? CGNAO called the turn months back (on GEI), not sure what happens next, but the goldbugs seem to think it's just a correction before it goes higher. Edited January 25, 2011 by SpectrumFX Quote Link to comment Share on other sites More sharing options...
montesquieu Posted January 25, 2011 Share Posted January 25, 2011 I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? What triggered it? Predictable after all the gold ramping that the rampers would take their profits. Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Share Posted January 25, 2011 CGNAO called the turn months back (on GEI), not sure what happens next, but the goldbugs seem to think it's just a correction before it goes higher. I've been out since 1370. Some were watching for 1337 others 1320 as broken supports. I think that 1300 is quite likely and that 128x or 126x is entirely possible. The only question is IF we bounce off 1300 then how high will it go before resuming down to find a bottom. I dont think that we will see sub 125x although a trader that I have much respect for believes that 1050 could even be on the cards. Once the bottom is in then I expect the next strong move north to come. The turn was never unexpected (came earlier than I thought it would) in fact most were waiting for it. This sort of time of year is when the institutional money is selling gold that they bought in the summer having ridden the price all of the way up through the autumn. Quote Link to comment Share on other sites More sharing options...
Kazuya Posted January 25, 2011 Share Posted January 25, 2011 I gather it's lost about 6-7% in the last month, looks like it lost 1-2% today Anyone know if something triggered it ? RealistBear is selling his stack Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Share Posted January 25, 2011 Infinite supply GOLD 01/25/2011 01:43 1333.20 -1.30 -0.10% Creative financial instruments (CFIs) have enabled gold sellers to market 10,000 or more tons a day. Given the ability of the market to sell more gold (paper gold) than produced the supply is, in a sense, infinite. The reason for gold dropping is the growth in the US and the overhanging "flight to safety" option if things do not go well in the EZ. The gold bull may also be exhausted--end of the cycle syndrome. If you are into Elliott Waves and other stochastic methods of predicting markets the quintuple average top of $1374 was pointing to a correction--but not a crash. Gold may no longer "fly to the moon" but it is hard to see it crashing badly at this point. Just a bit disappointing that's all. It doesn't help matters with all the stories about what happened to gold in 1980 under very similar circumstances we have today. History may repeat but who really knows? Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted January 25, 2011 Share Posted January 25, 2011 Creative financial instruments (CFIs) have enabled gold sellers to market 10,000 or more tons a day. Given the ability of the market to sell more gold (paper gold) than produced the supply is, in a sense, infinite. Yes, they can now print Gold into the ground just like fiat, what a wonderful system :angry: Hopefully they'll create paper houses in the future so we can drive the price of them down without leaving the house Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Share Posted January 25, 2011 Yes, they can now print Gold into the ground just like fiat, what a wonderful system :angry: Hopefully they'll create paper houses in the future so we can drive the price of them down without leaving the house They have already been doing that--especially in Spain. Off plan buying frenzies that end up with the owner getting the plans but nothing more. What a PONZI it all is--gold, houses, Aston IQs, bankster bonuses Quote Link to comment Share on other sites More sharing options...
'Bart' Posted January 25, 2011 Share Posted January 25, 2011 GOLD 01/25/2011 01:43 1333.20 -1.30 -0.10% Engaging patented RB ContraBoostTM indicator. Cheers RB, you've made me a lot of money over the years. Quote Link to comment Share on other sites More sharing options...
MrFlibble Posted January 25, 2011 Share Posted January 25, 2011 They have already been doing that--especially in Spain. Off plan buying frenzies that end up with the owner getting the plans but nothing more. What a PONZI it all is--gold, houses, Aston IQs, bankster bonuses It is and it's hard to know what to put your money on since you have to put it on something in the 'must play' casino. The default play of sitting in Sterling earning a bit of interest while waiting for house prices to drop hasn't exactly been a winner so far. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Share Posted January 25, 2011 (edited) Engaging patented RB ContraBoostTM indicator. Cheers RB, you've made me a lot of money over the years. GOLD 01/25/2011 03:18 1332.20 I bet you bought Euros and sterling last year--am I right? Missed out on the bond rally last year too? Thought so. Buying gold on the dips? Be careful--metals can tank very suddenly and not every dip is a buying op. How are you Crimbocasts doing so far this year? Didn't do so good last year I see. A wise man once said "When you think you made a lot of money last year it may turn out that you thought you did but you still own what would have made you a lot of money last year." Fou Lpong Edited January 25, 2011 by Realistbear Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Share Posted January 25, 2011 It is and it's hard to know what to put your money on since you have to put it on something in the 'must play' casino. The default play of sitting in Sterling earning a bit of interest while waiting for house prices to drop hasn't exactly been a winner so far. This is true. My house money has been sitting mostly in $ earning very little by way of interest but has seen Sterling drop from a peak of 2.13 to c.$1.59 today so I am not too peeved as it is a real return of more than 25%. The nice 5 figure drops in property that are starting around my way is also quite reassuring that the wait has been worth it. My hope os for a 40% drop in house prices along with a 30% or so drop in Sterling--a nice double whammy. Todays "growth" figures might set a cat among the pigeons. I suspect they wil be unexpectedly high again but revised downwards when reality sets in a few weeks later. But then again Merv will want low growth to justify his IR policy of vigilance. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 25, 2011 Share Posted January 25, 2011 Yes, they can now print Gold into the ground just like fiat, what a wonderful system :angry: Hopefully they'll create paper houses in the future so we can drive the price of them down without leaving the house Bail outs have alot to answer for. An imprisoned or dead criminal commits no more fraud, and those left alive are a bit more careful what they do. Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Share Posted January 25, 2011 The default play of sitting in Sterling earning a bit of interest while waiting for house prices to drop hasn't exactly been a winner so far. but....but....if you are saving in sterling to buy a house priced in sterling........nominal fall....blah blah....doesnt matter how much sterling has fallen. Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted January 25, 2011 Share Posted January 25, 2011 (edited) but....but....if you are saving in sterling to buy a house priced in sterling........nominal fall....blah blah....doesnt matter how much sterling has fallen. come on, do you think its wise for someone without a clue to start speculating with money specifically put aside for property, speculation is hard enough for those who do think they have a clue, sterling may have underperformed commodities the last 3/4 years but its outperformed both property and the stock market. That certainty of still actually having the same amount of housing money at the end is far probably worth far more than the worry accompanying investing it elsewhere Edited January 25, 2011 by Tamara De Lempicka Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Share Posted January 25, 2011 come on, do you think its wise for someone without a clue to start speculating with money specifically put aside for property, speculation is hard enough for those who do think they have a clue, sterling may have underperformed commodities the last 3 years but its outperformed both property and the stock market. That certainty of still actually having the same amount of housing money at the end is far probably worth far more than the worry accompanying investing it elsewhere My STR strategy exactly. The only "bet" I made was staying mostly in $ believing Sterling to drop--even further than it has from the date when I sold my last gaff (2003 FFS ). AS for casino money--stayed conservative apart from a large punt on PIMCO bond funds last year and a quick punt on Ford shares in December to mid January. Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Share Posted January 25, 2011 come on, do you think its wise for someone without a clue to start speculating with money specifically put aside for property, speculation is hard enough for those who do think they have a clue, sterling may have underperformed commodities the last 3/4 years but its outperformed both property and the stock market. That certainty of still actually having the same amount of housing money at the end is far probably worth far more than the worry accompanying investing it elsewhere but sitting in sterling is also speculating, just lazy speculation is all. Who has the same amount of house money still sat in their account? House prices may have fallen by x% but how much have cash savings lost to inflation? Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted January 25, 2011 Share Posted January 25, 2011 (edited) but sitting in sterling is also speculating, just lazy speculation is all. Who has the same amount of house money still sat in their account? House prices may have fallen by x% but how much have cash savings lost to inflation? well theyve lost nothing to property inflation which is the main point, inflation could run at 1000% percent but if property is 1% less then there is a relatively worryfree benefit. Holding in sterling may be speculation but its cross rate against property is is the least volatile speculation available for someone buying property in the uk. There are extreme emotional costs of fear/joy and hope as soon as you change the cross rate to something more volatile. I doubt for most its remotely worth it especially when you consider 90% of people have to lose Edited January 25, 2011 by Tamara De Lempicka Quote Link to comment Share on other sites More sharing options...
'Bart' Posted January 25, 2011 Share Posted January 25, 2011 I bet you bought Euros and sterling last year--am I right? Never done any currency trading old bean. Missed out on the bond rally last year too? Thought so. Never bought bonds either. Buying gold on the dips? But of course. How are you Crimbocasts doing so far this year? Didn't do so good last year I see. Did I make any? You'll have to remind me what they were. Quote Link to comment Share on other sites More sharing options...
'Bart' Posted January 25, 2011 Share Posted January 25, 2011 My STR strategy exactly. The only "bet" I made was staying mostly in $ believing Sterling to drop--even further than it has from the date when I sold my last gaff (2003 FFS ). Ddn't Sterling hit a 26 year high in 2007? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.