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pyewackitt

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  1. I think there may have been many institutional investors betting gold wouldn't break $1400, i suspect once that mark was hit a lot of traders had to go shopping to cover their shorts and this in turn has seen the mark not just passed but picking up pace past the resistance point! The unhedged Gold producers also need to be considered because right now that just makes them figurative as well as literal Gold mines, it will make for amazing profits reports. The thing is rallies born out of covering shorts might be in turn short lived once investors figure that the resistance was broken and take profits off the table. However in this instance with the news of QE and outright verbal wars over policy in the currency markets right now (China, US, UK etc.) there is enough concern to pause anyone from liquidiating Gold assets right now. I mean why would anyone take profits when there are so many risks to the system, the printing is going exponential, China and the US are at loggerheads over Yuan revaluation - which if you stop to think about it, is bascially the two most important global economies trying to argue over whose currency gets to be worth least! The US might even get what they want, then live to regret it as the worst policy decision in history when the Chinese turn around and promptly buy up America's industrial giants at comparatively wholesale prices. Almost every piece of new news is all Goldbug Bear food of the highest order. - Pye (Like everyone else wish i'd bought more before the madness started, still least i got in early with what i have)
  2. Gold going mainstream? http://uk.biz.yahoo.com/20102010/389/money-gold.html
  3. Three month slide and already we're seeing these: Five reasons not to panic over house prices http://uk.biz.yahoo.com/19072010/389/five-...use-prices.html Personally i don't see any reason why we shouldn't be following the US into a prolonged 2nd round of house price falls... and soon.
  4. http://uk.biz.yahoo.com/13052010/389/gold-...nched-gulf.html In a world first, possibly only suspected by GEI members with names like Goldfinger a Gold dispensing Remote ATM machine has been installed in a Hotel. Whilst searching for a nice piccy it appears this is not a world first and that one was installed in Frankfurt last year... http://www.psfk.com/2009/06/gold-vending-machine.html
  5. This! It serves western governments at present to see currencies devalue both for export reasons and for coverage of entitlements and liabilities. I'm a big believer in the Jim Rogers, Marc Faber (and many others) view that we will see a rush to tangible stuff i.e. precious and rare earth metals, energy oil/gas/uranium, foodstuffs etc. as currencies continue to decline.
  6. 1066.4 now... will this be the first time Gold goes $1070+ today? I wouldn't bet against it.
  7. New record prices again.... this is not the October pullback i was expecting lol What interests me is when those shorting Gold are forced to cover... i mean any trader looking at seasonal patterns or going on the 'less bad news' will have been expecting Dollar to be strong and PM's to fall a little so i wouldve predicted a substantial number of hedgies etc shorting the Gold markets... when do they get into the the position of being forced to cover themselves? or is that what we are seeing now? Anyone with active trading experience of this sort of thing able to comment? Cheers - Pye
  8. If i believed what i read in the papers i wouldve bought a house a few years ago because Gordo brought about an 'end to boom and bust'. In much the same way most papers seem to be constantly talking about deflation... without fail forgetting to mention the many, many years of inflation we've had since currencies were moved off the gold standard or to take a serious look at the number of times a deflationary wave preceeds a larger inflationary one. The papers are good for a giggle and lining my mum's cat's litter box... and occasionally good sports articles - but for balanced financial news and discussion i'd rather look elsewhere
  9. To be honest although i'm most certainly not a Gold trader but am an investor i'm not too fussed about the thread title - most of our readers and posters know the rough positions of people on the forum in terms of who prefers deflation/inflation or trading/investing. I think most of us are all long gold though so chill out, have a drink, and watch this little ditty posted on this same thread some months back: http://www.rathergood.com/bullion - Pye
  10. The only thing annoying me about this run up is the 10% of my assets i had set aside to make the most of a seasonal October pullback. Having said that the 60% i have in Gold/silver/juniors is doing great 1060... whodathunkit... if this carries on through the afternoon i can only seeing more buying in the Asian market window overnight. What price 1080 or 1090 comes midday tomorrow? One thing is for sure... Mr. Puplava will be having a very busy week right now lol.
  11. Had a quick look at GM and my eyes did one of those cartoony popping out of head moments when i saw it was at $1042/oz. I know a few people have predicted the seasonal pullback to start in the next few days but with the market strength seen (admittedly due to currency weakness) i think this is the real testing point. If Gold can stay above that $980 mark or even $1000 for most of October then imho we really are seeing a new transition phase to the market. October is usually the worst performing month for our favourite shineh metal - if we can plateau to a stable $1000+ gold environment for a few months (i.e. longer than previous $1000+ spikes) i see no reason why the push beyond $1100 and upwards can't take place... EDIT: interesting to note that whilst a lot of the gold shares i track have seen 5-10% rises today some of the juniors have stayed very static... will continue to watch with interest.
  12. I believe Jim Rogers has been advocating buying arable land and farms as a good investment in the current climate. Even if prices are steeper than a few years for some such plots i think the food % spending in an inflationary environment shows that to be good advise... except that the EU regulations may make being an actual farmer in the UK at least a lot harder than it might have been previously and as a consequence maybe its worth looking at foodstuff commodities also i.e. soybeans, oil, etc.
  13. Yup that sort of fall happening for a lot of gold/silver producers... I'm looking at: SSRI - Silver Standard -13.49% SLW - Silver Wheaton -13.57% GG - Goldcorp -10.62% AUY - Yamana -14.14% Long term i'm still thinking PM's will rocket so i'm hoping these all pull back a little more before people start recognising inflation is incoming.
  14. Personally although i 'could' invest more into physical gold/silver i think my positions are strong enough. Instead to get more exposure to the upside potential in the markets i'm looking at the following: - Junior miners who arent producing yet (or are but in small quantities) but have a good range of contracts/holdings/interests. The logic being that most of the med/large active producers have recovered substantially since Nov but there are a few Juniors whose price has continued to fall or stayed static. By investing a small amount into a number of these I'm expecting 1-2 might prove very rewarding although the risk is that 0-1 might find financing hard. Oxus gold was one i put a small punt on a couple of weeks ago and its recovering nicely. - Oil. Now is not really the time to buy heavily into long gold/silver. IMO if you really wanted to do that you really wanted to do so between mid-nov and mid-dec 08 (or before last years spring spike) and to have had balls of steel. However, what right now does represent is a great chance to get into low-mid tier oil and gas producers. I've read DrB says this but it's obvious that with oil at $40 or so and demand destruction factored into the price at present it cannot continue to last. We all know peak oil is coming, we all know china is going to keep using more, we all know from $40 dollars there is minimal downside risk (maybe down $10-20max) and massive upside potential (maybe up $40-60 short term and $140+ long term). To me the sector screams buy, but be careful with your choices. - Other physical assets. After sitting and looking at various markets that have a physical product that is in high demand during 'good times' but is currently depreciated I put a very small investment in a diamond mining business. Precious gem prices are low and the gem market short term prospects are poor but the company i looked at had a very low sp, good prospects in terms of their physcial mine holdings and a positive cashflow due to owning diamond processing facilities they could process raw gems for other companies. Time will tell on this one and currently it hasn't done great but the fundamentals still look good mid-long term. I guess what i'm saying is that although gold/silver still have huge upside potential in a lot of currencies precious money metals are at or pushing all time highs and the high end gold/silver producers i.e. Yamana have had their sp recover strongly since Nov. So take a moment and look elsewhere at what represents value - although the only serious requirement to my investments is that the businesses i'm looking at are essentially all commodities prodcuers because i think the commodity bull market is still alive and well - i just feel there is more 'bang for my buck' outside of physical gold/silver right now.
  15. Correct me if im wrong folks... But really the main difference between the deflation and inflationistas is the Dollar game, i.e. can the value of the dollar be maintained whilst the bailouts continue at pace. If the dollar stays strong, either due to manipulation or simply comparative strength during the period of deleveraging then its deflation and bonds/cash is strong. If the dollar starts to weaken its time for inflation and a move into commodities and PM's and well away from cash/bonds. The Dollar game is currently being played by many particpants but essentially all the inflation and deflation arguements I have read corrospond to the above. I still feel that, looking at former crisis, a short period of deflation following by high to hyper inflation as the correction measures overshoot is on the cards - but that's just my opinion... as i've said before Some will be right, Most will be wrong... the best we can do is discuss/confront/analyse the issues and DYOR.
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