This page has been archived and commenting is disabled.
Another Day, Another Record High For Gold
If one scours the newspapers, maybe, just maybe, one may find reference, in the page 13 fine print, that gold prices keep hitting fresh all time highs each and every day. The rumor now is that petrodollars have had their fill of EURs (which they have been buying instead of USDs) and are migrating to PMs. Another catalyst is the earlier announcement by Jean-Claude Trichet that the rate hike may not be the first in a series, confirming the vacillation by the European Central Bank. Until we see confirmation we will let this rumor be. One thing we are certain of: there are more buyers than sellers.
Gold touching a new all time high:
»
- 9169 reads
- Printer-friendly version
- Send to friend
- advertisements -
Until people like your financial advisor start lining up and buying this sector it will remain under owned. Pretty obvious he doesn't have any of his clients in gold.
Clearly overvalued? No, he clearly has his head up his ass.
It's been steadily rising for 10 years, but it's "never been a good time to buy". If it goes up, then it will come down soon. If it goes down, then you shouldn't buy it then either. Ask him what conditions would ever make it a buy?
Indeed. I have often wished some interviewer with a shred of honesty and wisdom, or an indignant participant at one of the Cambridge House Investors Conferences, would ask the same of Kitco's gold-hating bankster shill Jon Nadler, for whom it is ALWAYS a good time to sell gold, and NEVER a good time to buy more than the measly 5-10% he tepidly recommends --- but never, EVER more than that, or you will instantly become a "Radical Goldbug Extremist"! Funny how he never seems to blast the Radical Equities Extremists, or the Radical Bond Extremists, who own more than 10% of their wealth in the respective assets.
"Why do financial advisers never recommend gold or silver , that's right they don't get paid commission if you buy it."
Is that true? 100%?
WHY would anyone pay someone a commission to buy gold when you can walk into a Coin/Jewelry store and buy it without paying an extra commission?
What would you say if someone said this about gold....
the rate at which some gov'ts are buying it up is creating more "demand" than that which would be normal. they all can't keep buying forever.
They haven't even begun to buy. As currencies continue to be devalued, the demand for money that can't be printed will increase, IMHO. Your savings acct should be in physical gold and silver. Tell your financial planner to GFYAD.
"...they all can't keep buying forever."
'Printing presses' can go from zero to infinity in under 3 seconds, infinity is forever...there is a third part to this syllogism; you figure it out.
The CBs are always late to the game. Imagine if you will that the central banks hadn't been selling into the market for the past 4 decades (they have been selling massively and just the past few years they have been buying) and suppressing the price where gold would be. Your financial advisor can only advise you on the things he/she has been taught and clearly that is ZERO about gold and silver. Ask your "advisor" if they purchased at the historic low for gold or if they bought or own any at all and if they have ever recommended it.
Also think for one second, if the people that print the money and will never run out of it are now trying to acquire something that they detest yet "hold" as a unique asset class (i.e. it is real money with real value to all CBs across the board), doesn't that tell you that they are trying to rid themselves of their own paper assets instead? And why is it happeneing? Because they are all in a race to debase and need to move into gold in order to give themselves credibility. No gold, no credibility (and as a side note they may gain credibility by saying the have gold when they have less than stated or none).
Go read the article and posts over at:
http://www.zerohedge.com/article/surprising-observations-trimtabs-are-ce...
Gold
Two IH&S targets.
http://www.zerohedge.com/forum/99er-charts-0
The price of gold is still -42.5% off of its inflation adjusted high (2011 dollars) set on January 21, 1980. As the ranks of the middle classes in China and India expand, their appetite for gold and other "safe" investments continues to grow. What are the chances gold takes out its inflation adjusted high?
http://www.mrswing.com/cache/getimage.php?uid=ce563854ede5f3e5a0a607eb39...
There is coming a correction, based on silver graph, pretty soon (silver at 42-45 USD) . Gold and silve will again loose correlation for some time. My bet is, FED will bail out silver shorts of JPM.Though I am not sure its legally possible. Is it? Here is a chart for silver, made on March 13th:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=40#p31020
Oil continues to follow March 6th forecast:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a#p30486
Which might mean Libyan crisis will end soon. Or, QE3 will be out of the window at the same time FED will bail out JPM silver shorts.
Opinions please?.
Ok so the Fed is ending QE 2 in June.
This (since they are not immediately), barring a major disaster going to institute QE3.
When they do this, equites will be hit(mkt slammed).
And PM's will get hit hard, as the lack of more FUN Bucks are not being printed.
Should one hold, or sell a major percentage of their physical,( buy the smackdown w/ no QE 3) and come back in after the Fed has to reinstitue QE3?, as we know they have no choice.
Or do you hold your core ride it out, or take the GOOD chance selling now can reap major increases in BTD at much lower costs when the no QE3 causes the dollar to rise A LOT?.
Thanks
good question. I am interested to hear thoughts on this as well
do what you like with your trading portion...a core holding is just that. and before you adjust your core reflect that Bernanke is deliberately speaking out of both sides of his mouth...and everytime he has spoken plainly ("sub-prime is contained: etc etc) he has been proven wrong.
It's a bull market y'know.
Who ya gonna trust, Ben or Turd?
I don't think that anyone is arguing that gold prices, or even oil for that matter, are going to return to prices that they were just a few yers ago. But the current market price is way overinflated. Once the bubble burst, prices will return to the proper level. Buying now when its overinflated runs the risk of losing a ton of money. Excessive speculation is driving the prices up at an abnormal rate beyond what the commodities true value is. Once the speculators leave the market, prices will rapidly decline. For your sake, I hope you don't have too much invested into these commodities that currently have excessive speculation when this happens.
People said that at $700, $800, and imagine what they said at $1000 (or over 40% ago)! It is not a bubble when less that 1% are invested in it. If only 2%, a 100% increase, choose to become involved the price will skyrocket. But not only that the Asian influence, and European influence as well to a lesser degree because of their Eurocontagion/Bailouts, are a massive factor (the Asian buying being something that perhaps the world has never seen before; most particularly the Chinese) but that region of the world, the non-Westerners who have different values and cultures about PMs, is having a historic impact.
Also note that the Yuan has been becoming increasingly important as a currency so their gold culture is also standing center stage.
I am of course leaving out the Iranian, Russian, Indian central banks and populations, but the Middle Easterners love gold and are now regularly saying their holdings are greater than previously known, and remember the Germans have gold vending machines and there is one in Dubai of course.
Concepts of valuations in everything are changing don't be behind the curve as it is just starting. That is what happens when there is nothing real ond only debt that props up the biggest consumer economy. How these people in control can think that consumption solely is the backbone of economic system is unfathomable...unless you are from Harvard, Yale or Princeton I guess.
RobertPaulson, the only real bubble you should be concerned about at this point is the historically unprecedented bubble in fiat currencies and unsustainable, unpayble government debt, which guarantees the depreciation if not collapse of said fiat currencies.
To call gold and silver in a bubble is to squarely put the cart before the horse.
The value of Au/Ag Toz.s is being measured with rubber rulers, known as Fiat currency. Everyone that "thinks" Au/Ag is rising in price are guilty of fallacious logic.
It's not a record in real dollars. In real dollars, gold peaked in the beginning of 1980 and isd down sharply since then. In fact, it may not be up at all if you don't use the bastardized deflator the Fed would like you to use - the one it uses to hide the effects of its money printing. All that chart shows is the result of Bernanke's hardworking printing presses.
Not just Bernanke's. How about Mark Carney's (guess where he used to work)? And many, many others.
It's not a record in real dollars. In real dollars, gold peaked in the beginning of 1980 and isd down sharply since then. In fact, it may not be up at all if you don't use the bastardized deflator the Fed would like you to use - the one it uses to hide the effects of its money printing. All that chart shows is the result of Bernanke's hardworking printing presses.