Silverfinger Posted October 21, 2014 Share Posted October 21, 2014 To illustrate my point, let's look at what an average UK house costs in ounces of gold. The chart below shows that houses were cheaper for 71% of the time since 1930 than they are today. So, what is expensive here? Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted October 22, 2014 Share Posted October 22, 2014 (edited) The Ebola, ISIS and European sovereign debt panics of last week seem to be on the wane. It gave gold a further boost and taken it 6% or so off recent lows...just wonder whether we may be about to hit the buffers. Edited October 22, 2014 by crashmonitor Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted October 22, 2014 Share Posted October 22, 2014 Gold seems to be struggling to stay above 1250. Keeps comming back below. Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 No, it is not. You are simply looking at the wrong metrics. If you look at the 30-year chart, pretty much everything looks expensive, except maybe gold. Take houses, the stock market, bus tickets, you name it. Gold is pretty cheap right now. Which metrics are you looking at? Dan Norcini is closely associated with Jim Sinclair, probably one of the most ardent bugs ever. http://www.jsmineset.com/category/traderdannorcini/ If you've been listening to bugs, then you should already know about paper gold vs physical gold, china india physical gold demand, is there any gold in fort knox and so on. Yeah I've heard about that crack pot before. All those stupid gold bug memes: manipulation, china physical demand etc. http://kiddynamitesworld.com/precious-metals-charlatans-freaks-of-the-industry/ http://kiddynamitesworld.com/the-precious-metals-charlatans-are-going-to-destory-your-financial-net-worth/ Actually Dan isn't associated with the goldbug crowd - follow his site, read some back posts. He's is a former professional trader and was sought after by the gold bugs when gold was in an up trend because he was calling for higher prices. He has been bearish (and continues to be) on gold for the best part of 2/3 years and that when his goldbug talking slots dried up. He's really, really critical of those moronic loons who have been proved wrong repeately but keep churning out the same crap. Quote Link to comment Share on other sites More sharing options...
weaker Posted October 23, 2014 Share Posted October 23, 2014 Which metrics are you looking at? Yeah I've heard about that crack pot before. All those stupid gold bug memes: manipulation, china physical demand etc. http://kiddynamitesworld.com/precious-metals-charlatans-freaks-of-the-industry/ http://kiddynamitesworld.com/the-precious-metals-charlatans-are-going-to-destory-your-financial-net-worth/ Actually Dan isn't associated with the goldbug crowd - follow his site, read some back posts. He's is a former professional trader and was sought after by the gold bugs when gold was in an up trend because he was calling for higher prices. He has been bearish (and continues to be) on gold for the best part of 2/3 years and that when his goldbug talking slots dried up. He's really, really critical of those moronic loons who have been proved wrong repeately but keep churning out the same crap. riiiiight. So, grandsockpuppet, tell me -- did you ever visit approximity? Grandmasterspank Member Since 07 Oct 2014 Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 Wtf? Quote Link to comment Share on other sites More sharing options...
Errol Posted October 23, 2014 Share Posted October 23, 2014 Why India's love affair with gold is set to deepen http://www.bbc.co.uk/news/business-29720925 Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 I wonder if Goldbug's love affair with the eastern demand for gold meme is set to deepen? Quote Link to comment Share on other sites More sharing options...
Errol Posted October 23, 2014 Share Posted October 23, 2014 Russia's Gold Rush: Putin Orders Gold Reserve Buying Spree To Beat Western Sanctions - http://www.ibtimes.co.uk/russias-gold-rush-putin-orders-gold-reserve-buying-spree-beat-western-sanctions-1471104 Quote Link to comment Share on other sites More sharing options...
Errol Posted October 23, 2014 Share Posted October 23, 2014 (edited) Just another meme obviously. Putin trying to trick us: Russia Adds A Record 1,200,000 Ounces Of Physical Gold To Their Reserves September 2014 attributed to the biggest month-on-month increase ever. Only in May 2010 was there an increase which came close to the one of last month with an addition of 1.1 million ounces. Edited October 23, 2014 by Errol Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 Russia's Gold Rush: Putin Orders Gold Reserve Buying Spree To Beat Western Sanctions - http://www.ibtimes.co.uk/russias-gold-rush-putin-orders-gold-reserve-buying-spree-beat-western-sanctions-1471104 http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/11181297/Oil-slump-leaves-Russia-even-weaker-than-decaying-Soviet-Union.html More likely they will be selling everything that isn't nailed down to defend their currency. Just like last time - they sold their gold. Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 Just another meme obviously. Putin trying to trick us: Russia Adds A Record 1,200,000 Ounces Of Physical Gold To Their Reserves September 2014 attributed to the biggest month-on-month increase ever. Only in May 2010 was there an increase which came close to the one of last month with an addition of 1.1 million ounces. That's 32 tonnes right? Absolutely nothing! Annual production alone is above 2000 tonnes. Sounds more impressive in ounces tho! Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted October 23, 2014 Share Posted October 23, 2014 Digger Mansions takes delivery of 15 sovereigns. A spokesperson for Digger Mansions claimed this was part of their ongoing campaign to stop western civilisation running out of gold, " Those pesky eastern type people have been getting away with stealing our gold, up with that we will not put. We shall be sending a strongly worded letter to our parish council to find out what they are going to do about it. It's a national disgrace" ..._ Quote Link to comment Share on other sites More sharing options...
Errol Posted October 23, 2014 Share Posted October 23, 2014 (edited) That's 32 tonnes right? Absolutely nothing! Annual production alone is above 2000 tonnes. Sounds more impressive in ounces tho! They clearly have a plan. That plan does not include trying to buy thousands of tons all at once thereby making the price go through the roof. Unlike Gordon Brown, they aren't complete idiots. Also, 32 tons in a month is significant. Over the year this will amount to a sizable position. Edited October 23, 2014 by Errol Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 Yeah totes, they are using gold to diversify forex reserves. Gold has a role but shouldn't be more than 1-5% an individuals investment allocation IMHO. Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 Apparently GB sold to bail out the bullion banks anyway. Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 They clearly have a plan. That plan does not include trying to buy thousands of tons all at once thereby making the price go through the roof. Unlike Gordon Brown, they aren't complete idiots. Also, 32 tons in a month is significant. Over the year this will amount to a sizable position. I wonder what the plan of the organisation who pulled together that impressive like looking graph was? Very slick! Was it goldcorp? I wonder why they don't do a similar graph for gold holdings in western etfs? I do wonder indeed! Quote Link to comment Share on other sites More sharing options...
Errol Posted October 23, 2014 Share Posted October 23, 2014 Gold holdings in Western ETFs are going East as well. The physical gold is being withdrawn and shipped out. Plenty of charts I could find if I could be bothered. Quote Link to comment Share on other sites More sharing options...
sPinwheel Posted October 23, 2014 Share Posted October 23, 2014 Gold going down.....$1220s now... Quote Link to comment Share on other sites More sharing options...
Grandmasterspank Posted October 23, 2014 Share Posted October 23, 2014 I think it is my analysis that is driving the market Traders have read my posts and sold. Either that or the bullion banks are shorting gold whilst naked on the comex. Not sure which is more likely! Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted October 25, 2014 Share Posted October 25, 2014 Well, tommorow we will all know how true the leaked information that 25 of the 130 euro banks stress tested have failed is. The effect on gold will be determined by how the bourses react to what is read between the lines of the report. If they shrug off bad news then gold will flim flam around as it is doing at the moment. If markets tank then it will boost the price. Could all end up as a big nothing for now. ..._ Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted October 27, 2014 Share Posted October 27, 2014 Well, tommorow we will all know how true the leaked information that 25 of the 130 euro banks stress tested have failed is. The effect on gold will be determined by how the bourses react to what is read between the lines of the report. If they shrug off bad news then gold will flim flam around as it is doing at the moment. If markets tank then it will boost the price. Could all end up as a big nothing for now. ..._ Three props under the gold market...Ebola, European economic woes and ISIS. News is quiet on two of those fronts now and gold has drifted down since. Relying on bad news for gold is a tough call. On the other side of the coin, Equities, relying on the bad news being buried is equally a tough call. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted October 27, 2014 Share Posted October 27, 2014 When markets are fearful for the S&P gold has a chance. Other news is irrelevant. Quote Link to comment Share on other sites More sharing options...
DiggerUK Posted October 28, 2014 Share Posted October 28, 2014 Golds price is ruled by economic developments, other factors might influence it's direction marginally. All the major economic centres have their problems, but none of them have tipped over the edge. Europe has seen no panic with the stress test results, and it's not clear what effect the next ECB exercise with the Prudential Regulation Authority is going to have in mid December. For those who are not up to speed, they are looking at how banks are to comply with the 'guidlines' from Basel 3. May as well get on with making plans for christmas, nothing else exciting on the horizon. ...._ Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted October 28, 2014 Share Posted October 28, 2014 Apologies if this has already been posted, it's a long thread to search through. There will be a referendum in Switzerland on November 30th to the effect that the SNB must back 20% of the Franc in gold, and hold it's gold reserves in Switzerland. If the referendum were passed, then it would mean that the SNB would need to be buying a lot of gold. No comment from me, but have a read of Grant Williams take on it - a gold bug himself, but always logical IMO: http://www.mauldineconomics.com/ttmygh/pdf/this-little-piggy-bent-the-market Quote Link to comment Share on other sites More sharing options...
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