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who was the genius who seemed to imply it might "get a little bubbly" around 1,900 ?

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"Gold could keep working its way higher, but it is starting to look a bit bubbly," said Matt Zeman market strategist at Kingsview Financial in Chicago. "The run-up reminds me of what silver did a few months ago. It climbed steadily week after week, sucked everyone in, and then the whole deck of cards came crashing down."

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who was the genius who seemed to imply it might "get a little bubbly" around 1,900 ?

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"Gold could keep working its way higher, but it is starting to look a bit bubbly," said Matt Zeman market strategist at Kingsview Financial in Chicago. "The run-up reminds me of what silver did a few months ago. It climbed steadily week after week, sucked everyone in, and then the whole deck of cards came crashing down."

A bubble constitutes participants driving the price higher than what that asset is actually worth.

I wouldnt call this a bubble. Things can be overbought on a short term and then go through a consolidation phase in order to establish a foundation for the next leg up. I've also said in our talks that im expecting a pretty big hit in the metals given that im seeing signs of deflation heading our way. Also the paper market still controls the price.

im not disagreeing with you in respect of a very possible decline in price, but when this price comes down I think im going to be one of a very small few saying that this is a buying opportunity while many are going to be saying "See, I told you it was a bubble".

Its not a bubble, not even at these prices.

And as for the hit in silver, Last year august Silver was at $18 an oz. Today (august) its at $43.60. That hit meant nothing to the people who know to hold on for the ride.

Edited by villain_the_foe
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What happens if you pick up the newspaper tomorrow and the headline reads, "Economical Way Found To Extract Gold From The Sea"? You know that eventually it is likely to happen.

What happens then?

It won't be like diamonds, where you can tell a natural diamond from a manufactured one, thus preserving the market for the natural gem . You won't be able to tell mined gold from gold extracted from the ocean. And when when somebody finds a reasonably cheap way to get gold from seawater and every country can have all they want, it loses most of it's value.

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What happens if you pick up the newspaper tomorrow and the headline reads, "Economical Way Found To Extract Gold From The Sea"? You know that eventually it is likely to happen.

What happens then?

It won't be like diamonds, where you can tell a natural diamond from a manufactured one, thus preserving the market for the natural gem . You won't be able to tell mined gold from gold extracted from the ocean. And when when somebody finds a reasonably cheap way to get gold from seawater and every country can have all they want, it loses most of it's value.

Well, thats a nice thought. Holla at me when that happens i'll make sure to get rid of all my gold for silver if that happens. lol. Until then, well...you know.

Edited by villain_the_foe
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who was the genius who seemed to imply it might "get a little bubbly" around 1,900 ?

My link

"Gold could keep working its way higher, but it is starting to look a bit bubbly," said Matt Zeman market strategist at Kingsview Financial in Chicago. "The run-up reminds me of what silver did a few months ago. It climbed steadily week after week, sucked everyone in, and then the whole deck of cards came crashing down."

IMO, it was a bubble at 600. I know a guy from Alaska who kept a sluice box in a river just for chump change. I haven't talked to him in years but I bet he's really happy right now.

I'd rather sleep on a pile of uranium than buy gold at 1900.

Edited by JerryK
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IMO, it was a bubble at 600. I know a guy from Alaska who kept a sluice box in a river just for chump change. I haven't talked to him in years but I bet he's really happy right now.

I'd rather sleep on a pile of uranium than buy gold at 1900.

$1,900 Gold is going to look real cheap when its around $5,000, even cheaper at $8,000

This isnt a bubble, and no one has yet to explain why its a bubble, they just say it is. Who are the participants in the market driving up the price? I dont see them. People are still skeptical of the metal, how in the world is it a bubble? And if you said that it was a bubble at $600 wouldnt $1,900 gold (more than three times your bubble amount) show that maybe you werent correct?

Edited by villain_the_foe
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I dont see them. People are still skeptical of the metal, how in the world is it a bubble? And if you said that it was a bubble at $600 wouldnt $1,900 gold (more than three times your bubble amount) show that maybe you werent correct?

Well, first I'm not stating I'm right. I'm often wrong...

But I choose to see Gold's 'fundamentals' as it's mining cost & industrial demand. That kept it at 500-600 for a long time.

I don't see its monetary use as a fundamental, but perhaps I should. This opinion is probably what separates you and I.

People are running to gold as a currency hedge and there isn't enough $600 gold for everyone to have a stack in the closet. At $2000, gold will look like diamonds and platinum, which aren't really practical as an everyday currency.

There's lots of silver though & this is where people will flock once they get tired of $2000+. If I had been buying gold at 800-1500, I'd dump it to silver and wait for the bandwagon to head there.

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Well, first I'm not stating I'm right. I'm often wrong...

But I choose to see Gold's 'fundamentals' as it's mining cost & industrial demand. That kept it at 500-600 for a long time.

I don't see its monetary use as a fundamental, but perhaps I should. This opinion is probably what separates you and I.

People are running to gold as a currency hedge and there isn't enough $600 gold for everyone to have a stack in the closet. At $2000, gold will look like diamonds and platinum, which aren't really practical as an everyday currency.

There's lots of silver though & this is where people will flock once they get tired of $2000+. If I had been buying gold at 800-1500, I'd dump it to silver and wait for the bandwagon to head there.

I guess we'll just have to see how it plays out. I think there's not enough $600 gold not because people have ran to gold, only about 2% of the population even own it, its because there's paper fiat flying all over the world and a ridiculous pace. Thats been the primary influence on the price of these metals for the past 12 years. We havent even begun seeing a buying frenze. We'll see that within the next 2 to 5 years.

I do agree, right now is the perfect time to have Silver. $2000 an oz gold, I dont care whats making the price rise, is pretty high in respects to the average joe to be able to afford. However, I still think Gold will take off first. Once the "big money" gets into the metals they're going to have to go almost exclusively to Gold because there's not enough silver. The market is thin. Once Gold gets to that $5,000 an oz range thats when Silver being probably around $200 an oz will be the absolute best investment to be in.

We will see rises and falls in this market, but the long term outlook for this market is to the upside.

And my bad if I came off like "you're wrong", I didnt mean it like that, it was more of me just getting you to ponder the fact that maybe this isnt a bubble....maybe it is different this time. Because it surely looks different imo.

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ASHANTI VILLAGE COMMUNITY LOCAL GOLD MINERS ASSOCIATION (AVCLGMA)

Attn,

What is going on?

I has been trying to get you on phone regarding the available Gold dust but the line was not through.

However, i can't ship the total 50KGS to you at once for obvious reasons,I will be sending to you(Five) 5KGS as a first trial shipment as soon as I confirm your delivery information?.

Kindly provide your delivery details:

Receivers Name: ...

Address:

City:

Zipcode:

Country: .

Phone number: ...

Call me +233-266493802 for oral clarification as soon as you receive this message?

Email to:developmentprogramme@rocketmail.com

Await for your urgent positive response.

Regards

Mr.Charles Nana

Secretary

AVCLGMA

Ashanti Central Region

Ghana

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ASHANTI VILLAGE COMMUNITY LOCAL GOLD MINERS ASSOCIATION (AVCLGMA)

Attn,

What is going on?

I has been trying to get you on phone regarding the available Gold dust but the line was not through.

However, i can't ship the total 50KGS to you at once for obvious reasons,I will be sending to you(Five) 5KGS as a first trial shipment as soon as I confirm your delivery information?.

Kindly provide your delivery details:

Receivers Name: ...

Address:

City:

Zipcode:

Country: .

Phone number: ...

Call me +233-266493802 for oral clarification as soon as you receive this message?

Email to:developmentprogramme@rocketmail.com

Await for your urgent positive response.

Regards

Mr.Charles Nana

Secretary

AVCLGMA

Ashanti Central Region

Ghana

?

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The great part of this debate is that we all have skin in the game and whomever turns out to be right will be greatly rewarded. I'm pretty comfortable knowing my savings is in silver. Can't wait til silver is $200/oz or possibly even $1000/oz in the next 5-6 years.

Edited by Jetlag
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The great part of this debate is that we all have skin in the game and whomever turns out to be right will be greatly rewarded. I'm pretty comfortable knowing my savings is in silver. Can't wait til silver is $200/oz or possibly even $1000/oz in the next 5-6 years.

I feel the same. I wouldnt say anything is a 100% lock, but gold and silver in this climate I would have to say im incredibly long on this decade. Im hoping they find ways to knock silver back into the 20's and gold back under 1,200. Im certainly looking to rack up some more.

What I am doing given that im long the metals is now exploring what my next move will be once gold and silver reach "overvalued". I want to get into agriculture and im making the effort to learn now because I think that food and water will be the place to be. Given that im not financially in the "middle class" its hard for me to make the moves that I want to make, on top of the fact that when I do make moves I have to be right WAY MORE OFTEN than not given that im trying to make a dollar of of 15 cent as the saying goes lol.

But you're right, this thread is going to be good because everyone has skin in the game. This sh*t is going to be an entertaining thread over the next few years! Im putting my bet on Silver like you buddy.

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Watch this video. This story is 100% true. If you need proof that it exists I can provide it as I took a trip to this island over the summer on my way down to Miami.

http://video.google.com/videoplay?docid=6507136891691870450

Edward G. Griffin. I like him alot. I learned about the history of the federal reserve system through him with his documentary "the creature from jekyll island". Also, if you havent seen it check this one out. Its called "The Money Masters". Awesome!

http://www.youtube.com/watch?v=JXt1cayx0hs

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Gold is down $150 and Silver is down $4 in two days.

Im buying more metals before before the NY Market closes. I know once Asia gets the markets the metals will be going right back up.

when Gold goes up you cheer. when gold goes down you also cheer and buy more. You love that shiny yellow stuff.

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Gold is down $150 and Silver is down $4 in two days.

I wouldnt want someone to say that im quiet when the metals are down. Also, the Dow is up 40 pts.

Im buying more metals before before the NY Market closes. I know once Asia gets the markets the metals will be going right back up.

I did say this would happen. I closed out at market close, took my profits. I leveraged it 2x so it was a pretty solid day for me. Generally nothing goes straight up or straight down in a line. S&P support should be re-established at 1171, and I expect next leg to 1191, but I don't know if it will clear that by Friday.

I will probably short S&P a bit before the news Friday, as selloffs are predictable while the HFTs get re-programmed based on the news. Usually you get rally up early on in the day, then a small selloff before the news, then a huge selloff about 10 minutes after the news. Then a possible rally 30-40 minutes before.

This isn't exactly scientific, just personal experience and something to play with. I won't touch gold again until I see my next short opportunity.

As I always tell everyone, the only way to make money off the market is to be an active trader. Buy and hold is such bullsh*t, I really dislike how many people get screwed over by Wall St. for trusting them to manage pensions and such.

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I did say this would happen. I closed out at market close, took my profits. I leveraged it 2x so it was a pretty solid day for me. Generally nothing goes straight up or straight down in a line. S&P support should be re-established at 1171, and I expect next leg to 1191, but I don't know if it will clear that by Friday.

I will probably short S&P a bit before the news Friday, as selloffs are predictable while the HFTs get re-programmed based on the news. Usually you get rally up early on in the day, then a small selloff before the news, then a huge selloff about 10 minutes after the news. Then a possible rally 30-40 minutes before.

This isn't exactly scientific, just personal experience and something to play with. I won't touch gold again until I see my next short opportunity.

As I always tell everyone, the only way to make money off the market is to be an active trader. Buy and hold is such bullsh*t, I really dislike how many people get screwed over by Wall St. for trusting them to manage pensions and such.

Good man.

I never had the "trader" spirit if you will. Never been the gambler type, though people like you are able to gage much better than I can in that capacity. I do have an uncanny ability to buy something and hold it for long periods of time without getting shaken out of my position by volatility in the market. If the fundamentals dont change, then neither will my position. I guess my motto is "its slow money...but its sure money".

I always anticipate sell offs at the end of every month in G&S given comex expiry. They have alot of naked shorts out there, so when they knock down the price to cover the shorts.... I buy.

Edited by villain_the_foe
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Good man.

I never had the "trader" spirit if you will. Never been the gambler type, though people like you are able to gage much better than I can in that capacity. I do have an uncanny ability to buy something and hold it for long periods of time without getting shaken out of my position by volatility in the market. If the fundamentals dont change, then neither will my position. I guess my motto is "its slow money...but its sure money".

I always anticipate sell offs at the end of every month in G&S given comex expiry. They have alot of naked shorts out there, so when they knock down the price to cover the shorts.... I buy.

This may or may not surprise you, but I have a small stack of silver. I got it when silver was around $22. It's actual physical silver, some in bars and some in coins. I have little desire to add to it, but it's roughly doubled twice now before dropping a bit again. But to my knowledge it has never dropped back to the price I paid for it in the past several months.

At this point it's probably worth at least about $500 USD. I don't anticipate ever using it in your barter scenarios, but if it comes down to it, I have it. If the Gold/Silver ratio really holds true, it will increase in value much more until the ratio is restored anyway.

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This may or may not surprise you, but I have a small stack of silver. I got it when silver was around $22. It's actual physical silver, some in bars and some in coins. I have little desire to add to it, but it's roughly doubled twice now before dropping a bit again. But to my knowledge it has never dropped back to the price I paid for it in the past several months.

At this point it's probably worth at least about $500 USD. I don't anticipate ever using it in your barter scenarios, but if it comes down to it, I have it. If the Gold/Silver ratio really holds true, it will increase in value much more until the ratio is restored anyway.

It doesnt surprise me at all. I guess the difference between us is the diversification of our portfolios and how we view our investments. We both hold physical silver, but I may lean more towards the metals than you because I cant perceive the movements in the market as clearly as you on a day-to-day basis. But I think we're both doing well, You may have the majority of your money outside of the metals and me in it, but as you said, you made money today and I lost money, but Silver has more than doubled so the loss today doesnt effect me given that my core position was accumulated in the teens so we're both "in the money".

There's money to be made if you know how to do it.....its just that we have different views on how to get there. To me you seem more about making profit, which is always cool...im more about protecting purchasing power given that I dont have wads of money to risk. What I come across and cant afford to lose. Zero interest rates, massive money printing, massive debt, corporation insolvency and wealth transfer lets me know that Gold and Silver is where I need to be right now. I try not to make my investments to complicated, and with that my investments are very rare but are very rewarding given that I dont like to take on what I see as unnecessary risk. But like the saying goes, the more risk you take on the greater the potential of a kick back. I've just never been that lucky! lol.

Edited by villain_the_foe
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Ahh...CME margin hikes on gold and just like in the past seems the market knew(leak) about it before the world.

Will CTFC investigate what happened ? I wouldn't bet on it!

Glad you brought it up. Thats what I was telling Serp earlier today regarding options expiry. I bring these points up so much that I think I tend to be viewed as some type of conspiracy theorist at times. So it reconfirms in a way when someone else is bringing up the same bullsh*t that im looking at in the market. Im not surprised by the drop in Gold and Silver at all, especially Silver. I was pretty much expecting it. The participants in the markets know to sell their futures contracts during the 3rd week of every month because the 3rd friday of every month is options expiry, and the CFTC wont investigate because there's no hard trail persay. However, if one is paying attention its clear as day whats happening. This is why I said earlier that today is the day to buy BEFORE the new york market closes because when asia gets it, they are going to buy because the metals are practically on sale. We'll see the same for the rest of the week. You and I both know that the mega banks (no need to mention names) are shorting the heck out of the metals, silver specifically and need the price during options expiry to be under the strike price. So the people who have call options are not in the money, on top of the fact that they have to add another 26% to their "losing" position given the margin hike which many speculators dont have which means more liquidation of contracts....which means lower price.

Its all a game dude. This is EXACTLY WHY I dont deal in the paper market. Its nothing more but a scam. I will say this though, let them keep raising margin requirements right before expiry like they continue to do. People will stop doing business in futures and will begin to buy physical because they know that they're going to simply lose their trade with noticeable selloffs and "convenient" hikes in margin requirement. . If margins are raised to 100% (imo will never happen) then there's no sense in dealing with futures because the purpose is leverage. If they keep jerking people out of money 2 days before expiry there's no sense in dealing with futures because the purpose is recognizing fundamentals. That scam will slowing come to an end. They probably have another year of doing this stuff. Sooner or later it'll be too expensive for them to continue on.

Edited by villain_the_foe
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