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Offline Jb

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Re: Gold & Silver News
« Reply #30 on: August 10, 2012, 09:35:32 AM »
Thanks GO.

I'm still waiting sitting on my hands waiting to re-enter the market. Looking at the charts on Jesse's Cafe, we're getting into a technical wedge. I think I may wait to see what happens. http://jessescrossroadscafe.blogspot.com/2012/08/gold-daily-and-silver-weekly-charts_9.html

Offline g

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Re: Gold & Silver News
« Reply #31 on: August 11, 2012, 03:13:37 AM »
Thanks GO.

I'm still waiting sitting on my hands waiting to re-enter the market. Looking at the charts on Jesse's Cafe, we're getting into a technical wedge. I think I may wait to see what happens. http://jessescrossroadscafe.blogspot.com/2012/08/gold-daily-and-silver-weekly-charts_9.html

Again JB, With all the humility possible from a man who has been humbled by the markets many a time, I urge you to tip toe in and dollar cost average. Understand they are insurance as well as investments and I think you will come to the conclusion you should have some at all times. So you buy some silver at 28 and it falls to 25, your target, and you buy some more, big deal. It could fall under twenty or go straight to fifty at least you have some and if it goes lower you buy more at more attractive prices. Ditto for Gold.
Buying it all at a preconceived price is not a good idea with any investment. Charts can be helpful but keep in mind two astute observers can interpret a chart in two different ways.         :icon_study:

Offline g

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Re: Gold & Silver News: Billionaires Go For Gold
« Reply #32 on: August 14, 2012, 07:04:37 PM »
Billionaires go for gold
Updated 08:54 AM Aug 15, 2012

NEW YORK - Billionaire investors George Soros and John Paulson increased their stakes in the biggest exchange-traded fund backed by gold as prices posted the largest quarterly drop since 2008.

Soros Fund Management more than doubled its investment in the SPDR Gold Trust to 884,400 shares as of June 30, compared with three months earlier, a United States Securities and Exchange Commission filing for second-quarter holdings showed yesterday. Paulson & Co increased its holdings by 26 per cent to 21.8 million shares.

Gold slumped 4 per cent in the second quarter, the biggest such loss since Sept 30, 2008. Prices fell as European Central Bank President Mario Draghi and Federal Reserve Chairman Ben S Bernanke failed to increase stimulus measures, damping the outlook for global growth and demand for the metal as a hedge against inflation. The price is down 0.1 per cent since June 30.

"It's all about easing, and people are waiting for the Fed since investors expect prices will rise," if the central bank announces more bond purchases, said Mr Walter "Bucky" Hellwig, who helps manage US$17 billion (S$21.2 billion) of assets at BB&T Wealth Management in Birmingham, Alabama. "People are willing to hold on to gold to see what the Fed will say."

The metal surged 70 per cent from the end of December 2008 to June 2011 as the Fed kept borrowing costs at a record low and bought US$2.3 trillion of debt in two rounds of so-called quantitative easing. Gold erased its gains this year in May as investors favored sovereign debt and the dollar as economic growth slowed.

Spokesmen for Mr Paulson and Mr Soros declined comment. BLOOMBERG
URL http://www.todayonline.com/Business/EDC120815-0000070/Billionaires-go-for-gold              :icon_study:

Offline agelbert

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China Gold Hoarding Acceleration
« Reply #33 on: August 15, 2012, 04:27:43 PM »
Is China in the last stages of positioning to dump the dollar?
Quote
The Hoarding Continues: China Has Imported More Gold In Six Months Than Portugal's Entire Gold Reserve
Quote
China continues to do one thing. Buy. Because while earlier today we were wondering (rhetorically, of course) what China is doing with all that excess trade surplus if it is not recycling it back into Treasurys, now we once again find out that instead of purchasing US paper, Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons. In other words, in half a year China, whose official total tally is still a massively underrepresented 1054 tons, has imported more gold than the official gold reserves of Portugal, Venezuela, Saudi Arabia, the UK, and so on, and whose YTD imports alone make it the 14th largest holder of gold in the world.
http://www.zerohedge.com/news/hoarding-continues-china-has-imported-more-gold-six-months-portugals-entire-gold-reserves
Leges         Sine    Moribus      Vanae   
Faith,
if it has not works, is dead, being alone.

Offline g

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Re: Gold & Silver News: Gold: Escape from Slavery
« Reply #34 on: August 23, 2012, 07:41:09 AM »
Vice President Joe Biden was accused of racism when suggesting a Romney administration would “unchain banks” that in turn might put the black audience he was talking to back into “shackles.” The political uproar overshadows a reality that knows no racial boundaries: a person in debt is not a free person; a nation in debt is not a free nation. Does it mean those with large bank accounts are free? Not so fast…

We don’t want to downplay the horrific crime of slavery, but want to provide food for thought: debt is often taken on voluntarily; once taken on, however, one is forced to work to pay off one’s debt. To be unshackled from banks and creditors, investors may want to consider living debt free and owning gold. Let us explain.

http://feedproxy.google.com/~r/fso/~3/sO9V25MvwV0/gold-escape-from-slavery

2012 08 22 chains dollar axel jpg
2012 08 22 chains dollar axel jpg

Offline Jb

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Re: Gold & Silver News
« Reply #35 on: August 23, 2012, 07:47:42 AM »
Aannnnd, I'm back in. Interestingly, when I called the broker to add to my position, he had to double check to make sure that the silver was available... I kid you not.

Offline g

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Re: Gold & Silver News
« Reply #36 on: August 23, 2012, 09:20:27 AM »
Aannnnd, I'm back in. Interestingly, when I called the broker to add to my position, he had to double check to make sure that the silver was available... I kid you not.

Glad to hear it Jb, you just missed your 25 buy target, but you are a long way from the old high of 50. Best of luck, in there myself, not today, but over forty years.   :emthup:   
Morgan Silver Dollar
Morgan Silver Dollar
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Offline Jb

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Re: Gold & Silver News
« Reply #37 on: August 23, 2012, 10:32:56 AM »
I was looking at the 5 year trend line for the bottom which was in the $25 -$26 range. It found a bottom just above that and held. I wanted to make sure this wasn't just a head fake. Once it crossed $30 I was sold. This comment on ZH this morning mirrors my own thinking:

http://www.zerohedge.com/contributed/2012-08-22/my-predictions-august-come-true#comment-2729864

I figure the odds of the Fed letting the markets crash between now and elections is pretty low. If anything, I expect the longer trend line to continue as long as the situation around the world continues to deteriorate slowly. At some point I will cash out of the market completely, take the 30% early distribution hit and be happy about it. Timing is everything.

Offline g

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Re: Gold & Silver News
« Reply #38 on: August 23, 2012, 10:57:32 AM »
I never sell my positions. Long term investor in the precious metals sector.

However I do trade the precious metal stocks and appreciate what you are saying. You never get hurt taking a profit, and I like the work silver did right above 25. They pummeled it forever and it never broke down from that area. By the way 25 is a very important Gann Number, if you are at all familiar with the famed technician. Certainly looks like a major bottom has been put in. Strong seasonal influences also for the precious metals from now until February March.                                                                                              :icon_study:

Offline Jb

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Re: Gold & Silver News
« Reply #39 on: August 23, 2012, 12:22:21 PM »
GO,

I am long physical and gamble with unallocated thru my IRA broker. I was lucky to get in at $16, took profit (on the way down) at $38 so I more than doubled my bet. Put that off to the side and then got back in today.

I've never heard of Gann; will look it up. It looks like we could be forming the bottom of a major bowl or cup and handle with previous high of 49 as first lip. We'll see. In the meantime, here's what I'm watching out for:

http://chartistfriendfrompittsburgh.blogspot.com/2012/08/descending-metals.html

(I've forgotten how to insert an image; how embarrassing!)

Thanks.


Offline g

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Re: Gold & Silver News
« Reply #40 on: August 23, 2012, 12:52:36 PM »
GO,

I am long physical and gamble with unallocated thru my IRA broker. I was lucky to get in at $16, took profit (on the way down) at $38 so I more than doubled my bet. Put that off to the side and then got back in today.

I've never heard of Gann; will look it up. It looks like we could be forming the bottom of a major bowl or cup and handle with previous high of 49 as first lip. We'll see. In the meantime, here's what I'm watching out for:

http://chartistfriendfrompittsburgh.blogspot.com/2012/08/descending-metals.html

(I've forgotten how to insert an image; how embarrassing!)

Thanks.

Great charts Jb. amazing how they have that roughly the same pattern and successful tests of the lows. Still have my fingers crossed however, charts can be helpful but are far from infallible. Here are a few that show the work at the bottom you allude too.

sc
sc

Offline g

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Re: Gold & Silver News: Republicans Eye Return to Gold Standard
« Reply #41 on: August 24, 2012, 06:32:27 AM »
 
The gold standard has returned to mainstream U.S. politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy.

Gold
Comstock Images | Getty Images
Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold.

The move shows how five years of easy monetary policy — and the efforts of congressman Ron Paul — have made the once-fringe idea of returning to gold-as-money a legitimate part of Republican debate.

Marsha Blackburn, a Republican congresswoman from Tennessee and co-chair of the platform committee, said the issues were not adopted merely to placate Paul and the delegates that he picked up during his campaign for the party’s nomination.

“These were adopted because they are things that Republicans agree on,” Blackburn told the Financial Times. “The House recently passed a bill on this, and this is something that we think needs to be done.”    :icon_sunny:   :icon_study:      www.cnbc.com/id/48770752

Offline g

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Re: Gold & Silver News: Doug Casey Says Day of Economic Reckoning Is Near
« Reply #42 on: August 26, 2012, 04:19:02 PM »
It is a deal with the devil: Governments churn out more and more cash for the promise of continued prosperity. But the day of reckoning is near, according to Doug Casey, chairman of Casey Research and an expert on crisis investing. As the epic battle between inflation and deflation continues, Casey discusses his predictions for the new world market in this exclusive interview with The Gold Report.

The Gold Report: There will be a Casey Research Summit on "Navigating the Politicized Economy" in Carlsbad, Calif., in September. The thesis behind the summit is that governments have made a Faustian bargain, a pact with the devil, that saves the empire with overspending, but drives it to the brink of collapse by creating fiat currencies. Doug, where in that story is the economy currently?

Doug Casey: It's extremely late in the day. Since World War II, and especially since 1971 when the link between the dollar and gold was broken, governments around the world have accepted the Keynesian theory of economics, which boils down to a belief that printing money can stimulate the economy and create prosperity. The result has been to create huge amounts of individual and government debt. It's become insupportable. All it has done is purchase a few extra years of artificial prosperity, and we're heading deeper into a very real depression as a result.

    "We have been consuming more than we have been producing and living above our means."

http://feedproxy.google.com/~r/theaureport/Ajgh/~3/WM04eZJdJsE/14199          :icon_study: :icon_study:

Offline Jb

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Re: Gold & Silver News
« Reply #43 on: August 26, 2012, 04:36:32 PM »
Excellent; thank you GO.

I would argue that the governments around the world did not "accept(ed) the Keynesian theory of economics," but rather bastardized it on purpose to suit their needs.

The only questions are How and When this all goes to hell in a hand-basket.

Offline g

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Re: Gold & Silver News
« Reply #44 on: August 26, 2012, 05:04:31 PM »
Quote Jb
"Excellent; thank you GO.

I would argue that the governments around the world did not "accept(ed) the Keynesian theory of economics," but rather bastardized it on purpose to suit their needs.

The only questions are How and When this all goes to hell in a hand-basket."


Hi Jb, I am in the big inflation soon camp, then a flirtation with hyperinflation, followed by an epic deflationary bust that is totally destructive to all asset values, but who the hell knows anything anymore.? Nothing adds up anymore and we all know it will end somewhere, sometime, but it is all just a guess. Hope I am not sounding foolish but I think they can play games and hold it up for as long as a decade perhaps, subject to changing my mind 5 minutes from now.    :dontknow: :dontknow:
« Last Edit: August 26, 2012, 09:12:36 PM by agelbert »

 

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