Gold Buying - Page 6

simpa · #**101** 28.09.2010, 14:49

may be you can buy gold very esay as much as you want from here if

you think you will be there

marton · #**102** 28.09.2010, 14:56

	Quote:	BeastOfBodmin
	Good point. One of the reasons for the inflation in gold price is surely due to the weakening of the dollar. But 25% is not a bad return.

weakening of the dollar also good point
Yes 25% is about 10 years (or more) better than you get from Banks or Post office

Cashboy · #**103** 28.09.2010, 15:25

	Quote:	marton
	weakening of the dollar also good point Yes 25% is about 10 years (or more) better than you get from Banks or Post office

Gold has risen against the Swiss Franc over the last two years so having gold was better without doubt than Swiss Francs
Gold has risen substancially more against the dollar becuase the dollar has got weaker.

The question is; will gold continue to rise against the dollar?
I would say yes because:
1) Total uncertainty
2) 2nd lot of Quantative Easing (printing money to you and me)
3) Ireland will default and have to be bailed out by IMF and EC (well Germany at the end of the day)
4) UK will have to also have Quantative Easing.
5) There is an actual physical shortage of Gold
6) I think the ETF's are the next financial instrument to go bang.

I would also expect the Swiss Franc to rise against the Euro, US Dollar and GB Pound.

marton · #**104** 28.09.2010, 16:04

	Quote:	Cashboy
	Gold has risen against the Swiss Franc over the last two years so having gold was better without doubt than Swiss Francs Gold has risen substancially more against the dollar becuase the dollar has got weaker. The question is; will gold continue to rise against the dollar? I would say yes because: 1) Total uncertainty 2) 2nd lot of Quantative Easing (printing money to you and me) 3) Ireland will default and have to be bailed out by IMF and EC (well Germany at the end of the day) 4) UK will have to also have Quantative Easing. 5) There is an actual physical shortage of Gold 6) I think the ETF's are the next financial instrument to go bang. I would also expect the Swiss Franc to rise against the Euro, US Dollar and GB Pound.

I agree with 1.
2. - this has been openly discussed so is likely
3. News from Ireland does not look good but not so sure bail out will be needed but then I am no expert.
4. Not sure, pretty soon they will be hitting hyperinflation as the price of imported goods aligns with the new exchange rates.
5. Really? I know the central banks have pretty well stopped selling.
6. I hope so because then would be a good time to transfer physical gold into CHF; it needs somebody to buy a lot of physical gold & enough ETFs so when they call for the metal then the market goes bang - they could make a lot of money from their physical gold but it is a risky strategy.....

Uncle GroOve · #**105** 29.09.2010, 10:21

Re point 6. it has been reported that big hedge funds were actually selling gold futures vs. their exposure in the GLD ETF....

Hmmm....?

P.

marton · #**106** 29.09.2010, 10:26

	Quote:	Uncle GroOve
	Re point 6. it has been reported that big hedge funds were actually selling gold futures vs. their exposure in the GLD ETF.... Hmmm....? P.

More paper to protect paper.....

Reminds me of the story about a group of people who were trading in boxes of herring. One of them opened a box & complained the fish were bad - reply was "they are for trading not consuming".

Interested to see what happens if somebody opens the gold box.

Macchiato · #**107** 29.09.2010, 11:24

Also keep in mind, commodities like gold can become Bubbley more likely, compared to currencies like CHF.

Uncle GroOve · #**108** 29.09.2010, 12:22

	Quote:	marton
	More paper to protect paper..... Reminds me of the story about a group of people who were trading in boxes of herring. One of them opened a box & complained the fish were bad - reply was "they are for trading not consuming". Interested to see what happens if somebody opens the gold box.

Re. the herring ... LOL...that's a very famous jewish joke there :-)

re the gold futures sold short vs. GLD. It will be interesting to see if/when they have to deliver the gold and try to get their 400 oz bars from World Gold Trust Services, LLC (424 Madison Avenue, 3rd Floor
New York, New York 10017). Apparenty there is a contractual clause whereby the aforementioned cannot guarantee the origin, quality, etc of the bars stored in the various storage facilities. There will be plenty of brown stuff flying IMHO!!

P.

Uncle GroOve · #**109** 29.09.2010, 12:27

	Quote:	Macchiato
	Also keep in mind, commodities like gold can become Bubbley more likely, compared to currencies like CHF.

Nahh not really. Bubbles can form everywhere. Especially on swissie because there are much less Sfr in circulation vs. say USD or EUR.
Add derivatives positioning - currently at around 1.8 bln swiss francs, according to the exchange - which can be built against a minimal nominal collateral, and you can indeed get into situations where the market gets totally skewed to one or the other extreme. Especially when investors get jittery and/or hysterical (maybe it's the same thing, after all, haha...)

P.

Uncle GroOve · #**110** 30.09.2010, 08:48

Courtesy of Mr Beat Siegenthaler (UBS):

	Quote:
	-The Swiss franc will be a major beneficiary of any additional QE measures. Together with gold it is the ultimate safe haven currency in a world that fears currency debasement and competitive devaluation. -The franc is now fundamentally expensive and the SNB hopes that an inevitable economic slowdown will lead to a natural correction. However, safe haven flows may be largely indifferent to fundamental valuation. -Positioning is not heavy, except for speculative flows, which suggests that following a short-term correction, any QE measures could push the franc stronger still....

If someone needs the full analysis, pls drop me a PM.

Ciao

P.

Uncle GroOve · #**111** 30.09.2010, 10:45

UBS out in full force today :-)
The following excerpt courtesy of Dr. Edel Tully (emphasis in italic underscored is mine)

	Quote:
	Currency Wars and Gold Expectations that major central banks - the Fed, BoJ, BoE, ECB - will resume quantitative easing over the coming months have moved up a notch this week, giving greater importance to gold's role as a hedge against currency debasement, and greater force to safe-haven demand for the yellow metal. On the other hand, the spectre of competitive currency devaluation worldwide raises the possibility of a move towards protectionism and trade barriers in emerging markets; threatening deflation and slow growth, which are not ideal conditions for gold strength. Based on our conversations at the annual LBMA conference in Berlin this week, we do not believe the gold community is concerned about the potential for deflation, but rather that it looks for the monetary policy tools used to head off deflation to ultimately drive gold higher. This should remind us that the expectation of an event is quite often more price-influential than the reality......

Etc, etc.

'Later

P.

Cashboy · #**112** 30.09.2010, 11:00

	Quote:	Uncle GroOve
	UBS out in full force today :-) The following excerpt courtesy of Dr. Edel Tully (emphasis in italic underscored is mine) Etc, etc. 'Later P.

I actually hope this statement makes the price of gold fall so I can buy some of the reall Gold.

I don't see the relevance to his statement and trade embargos would make very little difference to the real hard stuff Gold (not ETF and other bits of paper).
Gold is purely driven on supply and demand and there is not much of it and a lot of demand for it.
The uncertainty of the governments and economy is the driver of the demand for gold; nothing else.
Anyone with the real Gold will probably be very reluctant to part with it(most people who possess it will not need to spend it in the near future) even if it falls and it will not fall a lot because of this; however the real value of money more than likely will.

Macchiato · #**113** 30.09.2010, 13:47

Just some cons of holding golds:

http://finance.yahoo.com/banking-bud...d=bb-budgeting

lux_interior · #**114** 30.09.2010, 16:39

Gold bullion dispensing ATM's [NBC Miami] are being installed in Miami & Las Vegas.
Apparently, they already exist in Europe. Anybody seen one?

Uncle GroOve · #**115** 30.09.2010, 16:58

Apparently one has been installed at the Orio Al Serio airport (Bergamo, northern Italy).

Is it the sign of an impending top in bullion....?

Paul

Mark75 · #**116** 01.10.2010, 22:56

	Quote:	Uncle GroOve
	Is it the sign of an impending top in bullion....?

I don't see the slightest reason why bullion should be anywhere near a top.

marton · #**117** 04.10.2010, 09:42

Newspapers are reporting a rumour today that JPMorgan have re-opened their New York vault (closed in the 90's) which implies a growing demand to store the actual metal!

I would be cautious about buying gold from ATMs - might be difficult to re-sell; I mean proving the quality.

Uncle GroOve · #**118** 07.10.2010, 14:50

Also sprach Dr Edel Tully (UBS):

	Quote:
	...There have also been countervailing signals for gold: over the past 24 hours we have seen more interest in downside protection, and the fact that gold is now being discussed in a tabloid newspaper (The Sun) indicates that it is being watched by the masses and suggests gold is due a correction in the short term....

Now back to the other brands of bubblegum

P.

Lex · #**119** 07.10.2010, 15:58

	Quote:	Uncle GroOve
	Apparently one has been installed at the Orio Al Serio airport (Bergamo, northern Italy). Is it the sign of an impending top in bullion....? Paul

That depends on whether you believe we have reached a top in government and central banking madness? I doubt it. But the volatility in gold will certainly increase.

marton · #**120** 07.10.2010, 16:20

	Quote:	Uncle GroOve
	Also sprach Dr Edel Tully (UBS): and the fact that gold is now being discussed in a tabloid newspaper (The Sun) indicates..... Now back to the other brands of bubblegum P.

Gold was discussed in Blick as well -
Easy job at UBS

Just read the newspapers