Friday, April 22, 2011

Something for the weekend, sir…

Most Asian Stocks Decline, Led by China

The markets may be on a cusp...

Posted by uncle tom @ 08:51 PM (1806 views)
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6 thoughts on “Something for the weekend, sir…

  • Now, I’ve not been the greatest bull when it comes to gold, and although those who have bought in over the last year or three have done rather well on paper, I would still caution that the precious metal is well above trend, and that those who buy now and wait too long are likely to lose out..

    But.. I sniff the potential for a gold spike – not at all certain, but a significant possibility..

    – and I’ve been around too long to pretend to know when it will peak or at what level..!

    However, I would urge all the gold bulls here to make a personal judgement: “at what price will I sell?”

    ..and then stick with that.

    It is extremely easy to get sucked into the belief that ‘I’ve done OK, I can do some more”

    – and then blow it…

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  • Thanks UT,
    Reuters just posted “Gold hits record, 6th day running”. They cite: sovereign debt, unrest (Libya + 4 or 5 other middle east countries) and inflation. If these “problems” all go away by Tuesday, gold will drop very hard.

    I’ve regularly bought a few sovs/half sovs as an insurance going back 20 years. This has stood me well up to now. I now rate gold as “Hold”. I expect to see $1650 an ounce by end of June. I think I’m conservative – but you can read the Moneyweek articles and decide for yourself. China is the big buyer along with India (neither were large buyers 20 years back).

    Responsible US investment websites have been urgeing for the past 6 months to get cash out of the USA. Gold hardly moved last week when S&P suggested a drop in the AAA rating – I suggest that this was not unexpected by “those with the money” – see posts of a few days back ranging from Bloomberg to Counterpunch….. Dollar weakness is slightly affecting both Gold & Silver.

    Where are you going to put the cash, anyway? Deposit account rates at the local BS are awful!

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  • I still rate gold as a buy, just. It has risen fast and risen a lot but then that must be seen against the context of Eurozone troubles, dollar weakness, oil crisis, etc. How much of that is already priced in? What’s the next crisis and is it priced in too? For what it’s worth I think the Eurozone crisis has a long way to run yet.

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  • @ drewster,
    Much is related to perception. It’s all about how people see the situation, and how its developing. The US seems to be percieved as suffering from crony capitalism and debt. I’ve even seen youtube vids of how the US fiddles its GDP. People in power are not trusted – so something needs to be found which can be

    Gold/Silver can’t be inflated down to nothing. As for paper….QE2,QE3…QE7..QE14 – and on and on…..

    …and that brings me to the Middle East. If you think the people in power are ripping you off, what can be done about it?

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  • Has anybody else noticed the accelleration in silver spot since JP annouced their new physical delivery ‘in -out’ account? Could they be unwinding their inherited short position in silver?

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  • @UT,
    just came across a gold vs Aus Dollar chart – not much change since May last year!

    £ and $ are jsut racing to the bottom, followed by the Euro. No wonder the Chinese want gold!

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