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Gold's Artificial Lows - Price Surge Coming
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Today’s Gold prices were USD 1,094.80, EUR 998.50 & GBP 707.74 per ounce
Friday’s Gold prices were USD 1,091.35, EUR 998.99 & GBP 703.01 per ounce
[LBMA AM prices]
Gold in USD – 1 Year
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Last week, gold and silver were mixed with gold marginally lower for the week – down 0.28% to $1,092.10 and silver up 0.4% to $14.77 per ounce
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Platinum and palladium are 0.74% and 0.5% higher to $973 and $607 per ounce respectively
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This morning, gold is 0.1% higher to $1,096 per ounce. Silver is up 0.74% to $15.02 per ounce
Gold's Artificial Lows - Price Surge Coming
- Sentiment is off-the-charts bearish, with traders universally convinced gold is doomed to spiral lower indefinitely.
- But gold’s weakness this year is very deceiving, as it wasn’t the product of global fundamental supply-and-demand forces
- Extreme record shorting by American futures speculators spawned these artificial lows
- Gold’s imminent short-covering rally should be the largest ever, coming from record extremes
Continue Reading Gold’s Artificial Lows
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Wouldn't suprise me if they swoop in and knock the shit out of the paper price in thinly traded hours once again.
They want people underwater in thier PM positions to try and change the mindset.
It does not matter if the gold goes down. You do not buy gold to exchange it tomorrow, and you buy gold from your surplus. It will come a time when gold will be your save of the day pal. I started to buy gold (Krugerrands) many, many years ago. One every month, plus the bonuses. Not any pressure on my day-to day life. Now, I have a couple of kg's in bullion coins, not to menion that in 2011 I sold 1,5 kg (36 coins) and paid off my home.
Gold will survive and win this game
@gold_spot... your are absoutley correct.. slow and steady, build up a stack every week/month with a long term view 10-15 years... forget about the day to day movement of the spot...
everyone should consider acquiring a gram a week in physical AU - amazing how quickly those grams accumulate
www.teamramgold.com
I'll guarantee you two things; 1) Gold will go down and 2) Gold will go up. It doesn't matter since it is used primarily as a long-term bet against the debt & fiat currencies associated with said debt.
All my gold is in a safe as I believe most mined gold is held except for everyday jewlery. I find it an interesting feature of human nature that something is so valued for simply sitting in the dark most of the time.
All my gold is in a safe as I believe most mined gold is held except for everyday jewlery. I find it an interesting feature of human nature that something is so valued for simply sitting in the dark most of the time.
All my gold is in a safe as I believe most mined gold is held except for everyday jewlery. I find it an interesting feature of human nature that something is so valued for simply sitting in the dark most of the time.
OK manipulated price surge came today so now what? Manipulated smackdown later this week
Smackdown already proceeded when Hong-Kong began trading.
You keep predicting those price surges GC. One of these days you'll will be right and then you can try to build a career on the back of it. Better hope you are still solvent by then...
Price suppression and true price discovery will happen when it happens
The problem is that all of the gold bugs cannot conceive of gold as being a commodity. They think of it as money.
Can you provide ANY historical references where PM could NOT be converted into local currency?
I'm waiting...
LOL. You really are missing somethng. Right now gold is classified as money and is part of FX trading as such. Even the major markets classify it as money. Now go back and study some more.
YOU'RE WRONG! Fourteen months ago I purchased a 3 acre piece of property on the ocean, in Maine for 55 gold ounce coins and 33 silver ounce coins. The seller wanted to settle in gold and/or silver for the property sale. At closing the coins were simply exchanged for the property title and the sale was made. Everything was out in the open and the sale was recorded at the town assesor's office as such. My point is that gold and silver were used as MONEY in this transaction. The coins didn't seem like a commodity to me or the seller. I think you're angry that the world is waking up to the fact that gold and silver are money.
That was one expensive piece of property; too bad you will never actually own it as you are limited by what you can do on it and you must pay property taxes, which means you never truly own it. I despise property taxes for that very reason.
Nothing wrong with barter. I like barter.
Have you tried paying for food at the grocery store with it or paying for something online from Amazon with it?
The last gun I bought was with silver and there was no paperwork. Straight trade after settling on the amount of silver. Another gun falls off the radar. I might have sold that one already but I can't recall and I sure as hell do not remember the guy's name whom I bought it from.
Do they mean it this time?
Only when commodities are traded in non-USD will we see meaningful change near term.
Gold is bound for a fall now. All these price surge coming articles are popping up.
http://beurs.com/2015/08/07/is-the-dollar-gold-price-controlled-by-jpm-i...
Fundamentals don't matter.
Has Adam Hamilton EVER been bearish on the dollar price of Gold? This guy is a quack and a shill. He is one of those guys that can ALWAYS find a reason to be bullish on the Gold price, and ALWAYS does - much to the detriment of anyone that would heed his advice and calls.
If/when the dollar Gold price ever makes a turn and heads upwards in price, this guy will be looked upon for his genius in calling the bottom in the Gold bear market. In fact, he calls for the bottom about once per month - for the past 3 years running. Genius indeed.
' He is one of those guys that can ALWAYS find a reason to be bullish on the Gold price'
Actualy,in tearms of history, and other currencies, (other than the insane, phony, fiat Ponzi scam called the US dollar), he has been SPOT ON !
For more than 100 years what has happened to the gold price of the dollar?
The dollar must resume it's inevitable decline to ZERO.
Pennies, nickels and dimes are already useless artifacts unless you want to melt them down for the metal in them. Quarters are the minimum you can get a piece of gum for.
We don' need no steenking price surge!
The longer I can trade fewer green pieces of paper for yellow shiny stuff, the better! A day is coming when the paper price on the CRIMEX will be so cheap you can't measure it but you won't be able to find an ounce anywhere for sale (or delivery!).
that's a fact, remember you said it here
Physical gold is an insurance policy that you dont have to renew annually and can cash out at any time you want with a good chance you will get more fiat than you gave for it... (over the long term)!
Difficult to find a reason not to hold physical gold considering the shit thats going on at the moment
www.teamramgold.com
There's alot of shit talk about Gold (Good and Bad) Excuse me for my ignorance, but I thought Gold was an investment, no?
The average wage in 1985 was $16,000 - in 2015 it's $20,000 thats an increase of around 20%
The average Gold price in 1985 was $300 - in 2015 it's $1100 that's an increase of around 250%
I've had a few drinks (and my math isn't good) but that seems like an 'Investment' to me!!
+1 for drinking while reading another gold article. My problem is that I keep drinking and usually end up ordering up some PM or another. Sometimes the metal shows up and I forgot that I even bought it or what price I paid because I don't give a fuck. I am just glad to have the metal in my hands. Then I get drunk again and do the same thing all over again. I have been doing that for 16 years now and my liver is probably shot but I have some cool coins and the like.
I have never regretted my investing strategy save for one time. Back in 2007 or 08 I got pretty lit up and bought out an entire company's silver supply. That worked out pretty well so as gold was doing it's yo-yo market moves I caught the dip and ordered all of the gold bullion coins they had listed for sale. I was drunk as fuck when I did that and I woke up at some point the next day to my phone ringing. It was the bullion/coin company I was doing business with with some bad news...they didn't have all of what I ordered. I looked at the invoice in my inbox and freaked. The company said they would honor the price since their website was having some issues and not updating. I knew that already because I was buying below spot. They told me they would send what they have and asked if they should cancel the rest of the order. Like a fucking moron, I told them they could cancel the rest of the order. Gold was $700 an ounce at the time. Oops. Had I not been sober I would have said "Fuck it, I will take it all when you get it".
I am not a chearleader for PM's but I happen to like them a great deal for a variety of reasons. I have been on the case for 16 years now and I can only offer this advice to anyone contemplating jumping into the market for the first time: It is not an overnight trade and get rich quick trade so don't think that it is or you will lose your ass. Don't even dare of thinking of trading on margin if you want to survive the PM market bullshit. Damn near every PM troll I have ever met online has been burned by trying to do exactly that or is a bankster employee. If you are going to enter the PM markets then what is your purpose for doing so? What is your timeframe? Are you willing to sell on a price spike? Who are you going to sell to?
I offer no opinion on GoldCore or their opinions. If you really want to buy some gold then do so but buy physical. Starting out with some silver dimes is not a bad way to go but the premiums are sky high now UNC rolls. Slow and methodical accumulation is a good approach.
There is one other major risk factor that no one really talks about very often. Theft. Buy any safe you want and it is not going to stop a determined professional thief. Once you get a stack going you start thinking about shit like theft or fire and it grinds on your mind whenever you are away. I will take my chances because I can't bring myself to put any money in the digital markets.
sssssshh, quit pointing that shit out. people will want in and no more gold for us.
Physical gold is an insurance policy that you dont have to renew annually and can cash out at any time you want with a good chance you will get more fiat than you gave for it... (over the long term)!
Difficult to find a reason not to hold physical gold
www.teamramgold.com
Nice product but I like lower premiums and larger quantities. I already bought a couple of these just for fun back when they were $4 each
http://valaurum.com/buy-aurum/
@latitude25 .. impressive im going to look into that!!! Im all for anything that is physical gold, I know we might squabble on here about margins and prices etc... but if the shit hits the fan like we all suspect those margins become marginal if gold takes off...
I really like karatbars... i buy the 5g card and by playing the system and getting discount for large buys I got a stack on friday past for just over €39 per gram delivered.. now that cant be bad!!!
speak to me on how to work the system to get it way below advertised price..
www.teamramgold.com
I bought aurums when they were new at $4. Just luck. With bullion my LCS was selling Mexican 50 pesos coins (1.2 oz) for $10 over spot. What a deal. Sadly those are all gone too.
@latitude25 nice run of luck with the aurums! I agree the deals on the physical AU are long gone.. I used to get serious abuse about karatbars on this site being overpriced and a scam etc... but over the past few months that abuse has turned into questions as people realise that what they read as theory and what is actual reality (i.e. owning physical) are worlds apart... personally if one can acquire physical kinebars in gram weights for less than 60 bucks they are doing OK regardless of the refiner
www.teamramgold.com
Agree completely, I'm surprised you haven't had any 'Bitcoin Bitchez' replies yet....maybe they're all in Ferguson!
Only morons follow the MSM Ferguson distractions.
@pliskin ... bitcoin is perfectly fine for a bit ebay purchasing... but as a store of wealth for 15 year plus... utter madness!!!!! I think the bitcon bitchez are mostly 15 year old pre puberty know it all's with less than 20 bucks to their name
at the minute i wouldnt even hold comex paper gold... physical only for a few years ;-)
www.teamramgold.com
Why do you say physical only for a few years? C'mon, share with us...
;-D
my krystal ball expires on 2017 so i cant see any further
The Star Trek theory of nobody needing money is much farther in the future than the singularity. So, unless your local friendly alchemist comes up with some way to make gold out of cat litter, then gold will retain it's monetary status for the foreseeable future.
It completely defeats me why the western CBs are letting the river of gold flow east. Anybody here at ZH got a concise explanation as to why the west thinks gold is no longer necessary to support it's currencies?
Thanks in advance for some colorful answers...
;-D
As Alan Greenspan stated (pre Fed) gold competes with the dollar as a store of value and bankers (and politicians) hate it. Gold is still held as the ultimate store of value by people all over the world and by the same central bankers who deny that it has a role. Look what they do, not what they say. The ECB has 10,800 tons on it's books and is not selling any. China has stated it wants another 7000 tons which it cannot get without destroying the market.
This is a complicated topic but if you look at how much gold is traded every day you will soon realize that if the POG is not controlled it will destroy the dollar. The Fed will do what it can while it can. Ultimately it will lose.
Trouble is that these gold price smashes seem to be accelerating the demise of the dollar. Why and who would want to do that? Why not let it rise to 15 or $1600 and then manipulate it to stay there? Answer: Someone is doing this to kill the dollar on purpose.
Do you think the U.S. is being honest about their holdings? It wouldn't surprise me if at truth telling time, we find that China has understated their holdings and the U.S, has overstated theirs...
;-D
I sorta think that is what everyone is waiting for. So much talk of an empty Ft. Knox and China saying "All your gold are belong to us".
As sure as a bear shits in the woods! China has way more that declared Uncle Sam has a big hole in the ground that is mysteriously filled with air.
Regardless we should be concerned with growing our own personal stack
www.teamramgold.com
Gold demand in Nepal up 3 to 4 X
http://www.ekantipur.com/the-kathmandu-post/2015/08/09/money/gold-in-sho...
Good link thanks. Interesting that govt limits imports.