80% Now

[cgnao]

I was a heavy buyer today. 80% of my capital is now safe in gold.

I'll convert another 5% if it drops below £310 / ounce, another 5% at £305. At £300 I'll be out of paper altogether.

Don't be fooled. It's just another correction and a buying opportunity.

[Jason]

What do you think about Silver cgnao?

[urban_hymn]

I was a heavy buyer today. 80% of my capital is now safe in gold.

You've got some b******s I have to admit.

I wish I had your blind faith. Some of the posters on gold bug sites were talking a little less loud today.

I will hold my G & G for now. I will see what the next R H Assett Management newsletter says. I have faith in their judgement.

http://www.rhasset2.co.uk/rhassetlive/Home/1/Home/1/Home.jsp

[Columbo]

I was a heavy buyer today. 80% of my capital is now safe in gold.

I'll convert another 5% if it drops below £310 / ounce, another 5% at £305. At £300 I'll be out of paper altogether.

Don't be fooled. It's just another correction and a buying opportunity.

You are one gutsy player chnao. Where do think we will be by this time next year ?

[gonefarwest]

Currently 50% cash 50% gold. started buying at around $555 and averged down. I am in it for the long run with 100% physical. Starting to get nervous a bit as the price keep going down. I guess I need a break and then buy more at much cheaper prices.

Lots of bad news in March:

Iran is making hostile threats

N Korea is warming up the rockets

Bush wants to blow up Iran and sell ports to the arabs

Trade Gap bigger than sierra mountains

Goobermint about to default on national deficit

Housing price crash days away

Japan stops loaning America their life savings

Bird flu killing lots of people and is spreading fast

[needle]

I was a heavy buyer today. 80% of my capital is now safe in gold.

I'll convert another 5% if it drops below £310 / ounce, another 5% at £305. At £300 I'll be out of paper altogether.

Don't be fooled. It's just another correction and a buying opportunity.

Brave man.

I'm gonna wait until the BoJ (and other) interest rate rises take hold.

I'm inclined to believe that there will be a significant pullback when those hedge funds pull out of gold and back into paper and higher interest rates.

Gold has had its run for now....but wait for the end of March beginning of April - might be some news then

Just my tuppence.....

[jonpo]

I will wait till my paper has a bit more scarcity value before going tangible.

[Guest Riser]

Currently 50% cash 50% gold. started buying at around $555 and averged down. I am in it for the long run with 100% physical. Starting to get nervous a bit as the price keep going down. I guess I need a break and then buy more at much cheaper prices.

Lots of bad news in March:

N Korea is warming up the rockets

U.S. says N. Korea conducted missile tests, not accidental firing+

(Japan Economic Newswire Via Thomson Dialog NewsEdge)WASHINGTON, March 8_(Kyodo) _ The United States said Wednesday that North Korea fired two short-term missiles earlier in the day not accidentally but for testing them, and urged Pyongyang to abide by its agreed missile moratorium..

[cgnao]

You've got some b******s I have to admit.

I wish I had your blind faith. Some of the posters on gold bug sites were talking a little less loud today.

I will hold my G & G for now. I will see what the next R H Assett Management newsletter says. I have faith in their judgement.

http://www.rhasset2.co.uk/rhassetlive/Home/1/Home/1/Home.jsp

Mine is not blind faith. A few years ago I researched gold extensively and I understand what drives it. When I started buying it at below £200/ounce many thought I was crazy. I was right.

Now many think I am crazy to have nearly all my capital in gold. We'll see.

It really does not take guts to buy gold. It takes guts to hold paper currencies and assets backed by nothing more than a sea of debt.

Protect yourselves.

Edited March 9, 2006 by cgnao

[lowrentyieldmakessense(honest!)]

Mine is not blind faith. A few years ago I researched gold extensively and I understand what drives it. When I started buying it at below £200/ounce many thought I was crazy. I was right.

Now many think I am crazy to have nearly all my capital in gold. We'll see.

It really does not take guts to buy gold. It takes guts to hold paper currencies and assets backed by nothing more than a sea of debt.

Protect yourselves.

how about some silver also - if it gets this high you will be sorted.

Silver

[Frank Mason]

how about some silver also - if it gets this high you will be sorted.

Silver

Realistically, can you see Ag/Au making gains of 6600% and 1400%?

One thing that concerns me is, if the precious metals do gain as much as this then what sort of state will the economy/society be in? Will you able to even use/keep hold of them?

Also, when someone takes delivery of the physical stuff, how do they know it is 100% what it is claimed to be?

Perhaps it is time to STR......

[lowrentyieldmakessense(honest!)]

Realistically, can you see Ag/Au making gains of 6600% and 1400%?

One thing that concerns me is, if the precious metals do gain as much as this then what sort of state will the economy/society be in? Will you able to even use/keep hold of them?

Also, when someone takes delivery of the physical stuff, how do they know it is 100% what it is claimed to be?

Perhaps it is time to STR......

no i cant see it getting that high but maybe it would if everyone lost confidence in all paper currencies - its happened everytime in history - personally i think at some point the idiots in charge of the system will realise that paper will need to be backed by something tangible - probably gold.

[Mr_Sminty]

One man doesnt make a market, putting 100% of your wealth into anything is inherently risky, if everyone else thinks differently to you your going to be stuffed. There is no 100% safe asset class and all of us can be wrong. Though I admire your b*lls in putting your money where your mouth is and you have done research way before speculation took off, I think you are exposing yourself to unecessary risk.

As for Gold, speculatively, major buyers are the jewellery trade and India and China who I have read dont buy gold at the current price levels historically so I dont see demand justification for $600-1000 gold prices. If you live in america and all your wealth is in dollars then Gold will reduce the risk to loss of value so can see the appeal of investing.

As for gonewests analysis this all seems to be based on possible future apocolptic events, if you take such a pessimistic view on the world as this Id suggest a better bet would be a quaranteened bunker and maybe a pack of cards. One of course has to guage future risk but you can make the mistake of only seeing the worse that can happen which seems to be the main driver for Goldbugs rather than the likelyhood that there will be good and bad

[watchinandwaiting]

Since congress illegally authorized the transfer of control of the United States monetary system to a private cartel of bankers called the Federal Reserve, the quality and stability of our money has depreciated at an alarming rate.

• Minting of gold coins ceased in 1933.

• Private ownership of gold was outlawed and citizens were compelled to surrender gold coins, bullion, and certificates in 1933.

• Minting of silver coins ceased in 1965.

• Gold and silver backing of paper currency was gradually reduced until there was no backing whatsoever.

[Guest muttley]

Gold well down again today.

Luckily 80% of my cash is safe in err.....cash.

[gone west]

As for gonewests analysis this all seems to be based on possible future apocolptic events, if you take such a pessimistic view on the world as this Id suggest a better bet would be a quaranteened bunker and maybe a pack of cards. One of course has to guage future risk but you can make the mistake of only seeing the worse that can happen which seems to be the main driver for Goldbugs rather than the likelyhood that there will be good and bad

I have never made any claims that we are heading to an apocalypse. You may have meant some other (newer) member whose handle is suspiciously close to mine.

I have always said that gold is a prudent holding (5 to 10%) in a portfolio of assets. Right now, I am inclined to include sludge silver and put the allocations at 20% for all PMs, simply due to the tense world situations and the profligate Fed. I also firmly believe we are in a secular commodity bull market so all PMs should do well compared to cash over the next few years. I hold very little physical gold, as I see doomsday a fair ways off for now. JMHO.

Edited March 10, 2006 by gone west

[lowrentyieldmakessense(honest!)]

Gold well down again today.

Luckily 80% of my cash is safe in err.....cash.

time to buy some more then

[spoon]

there are macro-economic forces exerting downward pressure on commodties. with most of the world hiking rates including Japan the main funding currencies eg EUR, JPY, and CHF are doing well against the dollar resulting in FX losses for those long the commodities and emerging market complex. it's no coincidence that Brazilian stock market and gold have come under pressure at the same time.

i think the Fed will complete it's hiking cycle by August this year. when the Fed starts cutting rates that's when gold will come into it's own.

awesome performance by silver this week. the gold/silver ratio is perilously close to breaking below a major uptrend eight year trendline at 54.25.

[gone west]

there are macro-economic forces exerting downward pressure on commodties. with most of the world hiking rates including Japan the main funding currencies eg EUR, JPY, and CHF are doing well against the dollar resulting in FX losses for those long the commodities and emerging market complex. it's no coincidence that Brazilian stock market and gold have come under pressure at the same time.

i think the Fed will complete it's hiking cycle by August this year. when the Fed starts cutting rates that's when gold will come into it's own.

Indeed. Pressure from unwinding of the yen carry trade will be short lived. Once unwound, the stronger forces of resource scarcity and Asian growth will return.

awesome performance by silver this week. the gold/silver ratio is perilously close to breaking below a major uptrend eight year trendline at 54.25.

and on its way to 30...

[oracle]

not quite got the same balls as cgnao myself.

I've gone for a bit of risk-spreading....approx even 1/4 split between gold,nat resources,jap equities and good old fashioned cash here.

either way I think US$ and sterling are going to weaken sharply against most other world currencies,so the cash(sterling) I hold is basically a strike fund.....that I will use when risk is more heavily discounted in stock/property(which it certainly isn't now)

there are macro-economic forces exerting downward pressure on commodties. with most of the world hiking rates including Japan the main funding currencies eg EUR, JPY, and CHF are doing well against the dollar resulting in FX losses for those long the commodities and emerging market complex. it's no coincidence that Brazilian stock market and gold have come under pressure at the same time.

i think the Fed will complete it's hiking cycle by August this year. when the Fed starts cutting rates that's when gold will come into it's own.

awesome performance by silver this week. the gold/silver ratio is perilously close to breaking below a major uptrend eight year trendline at 54.25.

beg to differ on downward pressure on commodities,this is a temporary pullback.

there's a lot of scenarios that aren't even on the radar for most investors yet,and mostly bullish for commies.

...what if bird flu does mutate????...have you thought about how much food we import,and how it is going to be picked,transported and distributed to us if 1/3 the workforce of farmer giles/p+o/tesco are ill?

...prices go up...massively as supply is strangled....ok it's short term because the elderly and infirm are likely to cork it after a couple of months,reducing demand.

likewise with iran....5% global outage if it's invaded......for about 1 year.

now what if it spreads????.....oil shock will lead to higher transport costs and inflation(again)

[spoon]

temporary pullback - did i say otherwise?

i'm long silver though a little concerned about the SEC's non-announcement on the much talked about ETF.

gold had a go at $535 a couple of times on Friday. if 535 holds this latest pullback should pave the way for $600.

[malco]

temporary pullback - did i say otherwise?

i'm long silver though a little concerned about the SEC's non-announcement on the much talked about ETF.

gold had a go at $535 a couple of times on Friday. if 535 holds this latest pullback should pave the way for $600.

Isn't that a bit like saying "if house prices drop a bit more it'll pave the way for X% growth by next year"?

Don't get me wrong, I have some gold holdings too, and my suspicion is that gold and silver will have quite a day eventually. But I must admit that my justification for this belief is quite woolly. If I had to justify it over a dinner table I'd probably be reduced to falling back on dogma about Peak Oil and gas shortages, US debt, housing bubbles and ME politics. These are fair reasons to have a limited position.

CGNao is putting one hell of a lot of faith in his predictions. He is in effect saying he believes he can forecsat the future with the accuracy of planetary motion. Well, good luck to you pal. I very much doubt you'll lose much, it must be said. Make sure you buy Britannias, as these are legal tender and not subject to capital gains tax, at least, not until the UK joins the Euro. Why will we join the Euro? Because rising fuel imports will make the position of Sterling untenable within five years. You heard that first here. But you can get 100 Euro bullion as well, so it's not a problem, at least provided the same tax break holds for Euro bullion.

Gold has been seasonal for several years. There are rises in the autumn through to New Year and then little action for about eight months until the end of the summer. The last year was unusual only in the remarkable rise in gold after Hurricane Katrina. The current undulations are just gold being gold. Like you, I think we'll see new rises starting after July.

Edited March 12, 2006 by malco

[spoon]

the reason i say that is because when everyone is long precious metals, they will struggle to go higher. the latest pullback should kill off a few weak and anxious longs. you need a shakeout every now and then. if in addition you manage to reject some key technical levels on the way down then you have in place the ingredients for a surge to higher highs.

something similar is happening in the housing market which of course exhibits these phenomenon over years not hours and days. right now the price action is being governed by nervous shorts fearing a resumption of another surge higher. once that's done with the market can resume it's decline.

[debtfree]

Mine is not blind faith. A few years ago I researched gold extensively and I understand what drives it. When I started buying it at below £200/ounce many thought I was crazy. I was right.

Now many think I am crazy to have nearly all my capital in gold. We'll see.

It really does not take guts to buy gold. It takes guts to hold paper currencies and assets backed by nothing more than a sea of debt.

Protect yourselves.

You are crazy to have all your capital in gold.

Why not spread it with swiss francs, silver, mining stocks, gold bullion funds, property from auction and some candles for when the power cuts start.

[Mr_Sminty]

I have never made any claims that we are heading to an apocalypse. You may have meant some other (newer) member whose handle is suspiciously close to mine.

I have always said that gold is a prudent holding (5 to 10%) in a portfolio of assets. Right now, I am inclined to include sludge silver and put the allocations at 20% for all PMs, simply due to the tense world situations and the profligate Fed. I also firmly believe we are in a secular commodity bull market so all PMs should do well compared to cash over the next few years. I hold very little physical gold, as I see doomsday a fair ways off for now. JMHO.

Apologies your quite correct I was actually referring to GONEFARWEST at the time. Far more balanced analysis and worth reading posts by your goodself Ill hasten to add!