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Asheron

Gold Off Charts As Prices Heading ’Parabolic’

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Gold’s rally to a record near $1,900 an ounce pushed the metal to overbought levels according to technical analysis tools, as economist Dennis Gartman said prices will go “parabolic.”

http://www.bloomberg.com/news/2011-08-22/gold-goes-off-charts-as-gartman-sees-prices-for-metal-heading-parabolic-.html

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Can you explain your thoughts? I don't understand how you think Gold is going to plunge?

It's not like the world economies are getting any better is it?

In fact it looks like America and Europe are going bankrupt?

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Gold is going up because world banks are printing money out of thin air which is creating inflation.

We have record low interest rates and record high unemployment levels.

We have record amounts of debt also.

And nothing is getting better, only worse!

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Gold is going up because world banks are printing money out of thin air which is creating inflation.

We have record low interest rates and record high unemployment levels.

We have record amounts of debt also.

And nothing is getting better, only worse!

Great time to sell paper gold and buy bullion sit back and watch COMEX and LBMA carry on dancing with another chair taken away.

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really? I will come back at the end of september and we will see who sold at their peril and who bought and got bum raped.

Now is the time to sell.

Gartman saying buy is a definite sell, that piece of shit is something else.

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really? I will come back at the end of september and we will see who sold at their peril and who bought and got bum raped.

Now is the time to sell.

Gartman saying buy is a definite sell, that piece of shit is something else.

Well if your shorts are down and you have left your position open, you have to hope the big boys don't go long and see you exposed.

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really? I will come back at the end of september and we will see who sold at their peril and who bought and got bum raped.

Now is the time to sell.

Gartman saying buy is a definite sell, that piece of shit is something else.

Do I detect a hint of sarcasm?

Just out of curiosity, do you hold PPMs? Will you be selling this week? Don't you subscribe to popular opinion tat gold / silver are skyward bound?

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Sold mine. I was thinking this libya thing would make the bankers happy and see a fall in prices, the bloody opposite happened lol. You don't just need gold, you need golden balls in this game.

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Do I detect a hint of sarcasm?

Just out of curiosity, do you hold PPMs? Will you be selling this week? Don't you subscribe to popular opinion tat gold / silver are skyward bound?

No, no sarcasm. I hold more in silver than a fat adult weighs and a healthy amount of gold.

I say sell if you are holding paper or accounts, I would never say to sell your core holding of bullion.

I dont believe that gold is in a bubble. I do believe that gold has much further to run. I can not deny that gold is overbought and due a healthy correction.

The difficulty is determining who we are talking with.

Corrections dont affect holders the same as they do traders.

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Itsa date sweetie :)

Make a note, is $1897 now, we will see where the dip ended and who sold here or hereabouts at their "peril".

Dont get me wrong, I wont be selling any sovs or krugs but paper trades are one way right now.

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Does anyone have a sensible strategy for shorting gold?

Did OK shorting cotton earlier this year when it reached a real multiyear high and then some. Difference of course with cotton more fields get planted when price is high so a correction is likely the following season. Gold, not sure. But it smells overpriced to me

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I dont believe that gold is in a bubble. I do believe that gold has much further to run. I can not deny that gold is overbought and due a healthy correction.

Agreed. I sold off a little of my stash today to give me a better buffer against a correction. That said, as I write this gold is now $1908!! I'll be very interested to see how far the current price spike goes before the market calms down a bit.

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Agreed. I sold off a little of my stash today to give me a better buffer against a correction. That said, as I write this gold is now $1908!! I'll be very interested to see how far the current price spike goes before the market calms down a bit.

Is options expiery this week, I doubt that you will have to cry into your beer.

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Is options expiery this week, I doubt that you will have to cry into your beer.

option ex was last week.

If gold is going parabolic then the gold boom is nearing its end, i still think that level will be above $2000.

So gold goes from $250 to $2500 during this bull move, very nice run..

$2500 for 1 oz of a rare but shiny bit of metal that's only good for a bit of bling.

I expect gold to get to near $2500 and the drop back to $1250.

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Weimar Germany Gold & Silver Prices.

DATE SILVER GOLD

Jan 1919 12 170

May 1919 17 267

Sept 1919 31 499

Jan 1920 84 1,340

May 1920 60 966

Sept 1921 80 2,175

Jan 1922 249 3,976

May 1922 375 6,012

Sept 1922 1,899 30,381

Jan 1923 23,277 372,447

May 1923 44,397 710,355

June 5, 1923 80,953 1,295,256

July 3, 1923 207,239 3,315,831

Aug 7, 1923 4,273,874 68,382,000

Sept 4, 1923 16,839,937 269,429,000

Oct 2, 1923 414,484,000 6,631,749,000

Oct 9, 1923 1,554,309,000 24,868,950,000

Oct 16, 1923 5,319,567,000 84,969,072,000

Oct 23, 1923 7,253,460,000 1,160,552,662,000

Oct 30, 1923 8,419,200,000 1,347,070,000,000

Nov 5, 1923 54,375,000,000 8,700,000,000,000

Nov 13, 1923 108,750,000,000 17,400,000,000,000

Nov 30, 1923 543,750,000,000 87,000,000,000,000

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Weimar Germany Gold & Silver Prices.

DATE SILVER GOLD

Jan 1919 12 170

Jan 1920 84 1,340

Sept 1921 80 2,175

Jan 1922 249 3,976

Jan 1923 23,277 372,447

June 5, 1923 80,953 1,295,256

Sept 4, 1923 16,839,937 269,429,000

Oct 2, 1923 414,484,000 6,631,749,000

Oct 30, 1923 8,419,200,000 1,347,070,000,000

Nov 5, 1923 54,375,000,000 8,700,000,000,000

Nov 30, 1923 543,750,000,000 87,000,000,000,000

How much was it in new Reichsmarks once the hyperflation finished and the Papiermark was replaced.

More importantly what was its purchasing power and can you give some examples of prices.

Edited by sleepwello'nights

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Great time to sell paper gold and buy bullion sit back and watch COMEX and LBMA carry on dancing with another chair taken away.

+1

With 100x more paper sold into existence than physical it's not going to take many more Chavez style requests for the whole lot to shake loose. There's no guarantee they'll even fill his order either.

Edited by MrFlibble

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+1

With 100x more paper sold into existence than physical it's not going to take many more Chavez style requests for the whole lot to shake loose. There's no guarantee they'll even fill his order either.

You know I think TPTB will simply have no choice rock and a hard place, in that they simply HAVE to fill out his order. If they don't confidence takes an even bigger knock and you get the striessand effect happen which the consequences are even worse.

China and Hong Kong asked for their gold back from London when HK opened its gold depository, and China recently opened its own depository in Hunan.

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