GOLD

[andrew]

Anyone on here know of a supplier of gold dust/dore (normally 92%)?

 

200+Kg/month needed.

 

200+Kg per month!!

 

OMG tinecu...........

 

You have really deep pockets....

[fitkid]

From the Telegraph ...

 

"Cash machines across Tokyo are shutting down, reportedly caused by the sudden increase in withdrawals. The price of gold has jumped by $2 an ounce in the city ... The cash machine problems in Tokyo have been confirmed by Mizuho bank. A spokesman said it was due to a concentration of transactions at some unidentified branches. Thousands of ATMs were affected, some went down twice in a day, others refused to give out foreign currency. It is unclear whether Mizuho was the only bank with the issue."

 

A sad reminder why you should hold some physical gold.

Imagine some poor uninformed soul that had stuufed a load of FIAT yen under his bed fearing bank collapses what has he got left now ...................... wet toilet paper.

At least with gold it would still be intact and as valuable as ever if they can find it.

[fitkid]

Anyone on here know of a supplier of gold dust/dore (normally 92%)?

 

200+Kg/month needed.

Whats the application for.?

Would grain be of any use.?

PM if you like.

[fitkid]

I truly think the gold cartel and bullion banks have made such an obvious pattern to make people sell when the line was reached. I think they are just trying to clear out all the small fry so that they can make all the money for themselves.

 

Buy & hold ignore the daily noise.

 

I SOLD EVERYTHING.....

 

 

"Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks."…

 

 

 

I AM A .....................................

[Pixel8r]

Thanks for the explanation...........

 

I was going to rudely ask if you could redraw your chart with the next Pixel8r 'R5' line on it.

 

I would print that one out and blue tack it to my office wall...............

 

Where would you place the green circle on the 'R4' line ?

I will have a go when I get time, but I am not so sure that we will follow the same pattern as previously so am unsure as to the use of it.

 

As we get further into this bull run there will come a time when the level of acceleration increases, the final mania stage. I am expecting that part to be almost vertical, so I wouldn't want to encourage anyone to attempt to trade the bull and miss out on the best bit. I am firmly in fitkid's camp and think physical bullion is something that should just be bought and bought more.

 

Saying the above I do attempt to trade the movements in the metal prices but by buy and selling junior miners. These tend to react stronger than the bullion price moves and trading them gives me something to do.

[GreenRiver]

I have held physical Gold & Silver for a few years now. I will hold until a)my Sister phones me and asks "how do I buy Gold" or b)The front page of the Sun reads 'Gold hits record highs' as a headline.

 

Everyone must reach their own conclusions on how far this has to go. Personally, I have taken the view that Yes this is a bull market (obviously!). Therefore if this is a bull market does it have the makings of a mania/bubble?, quite possibly yes it does. If it does then of course it will follow the pattern of every other mania. If it follows the pattern of every other mania then we will see:

 

extended mainstream media coverage in the UK

articles in the tabloids

middle shelves of the news agents crammed with 'shiny metal stuff' mags

TV adverts with "we SELL any gold.com" type themes

My Sister phoning me about how to buy gold.

 

So IF this thing has the makings of a potential mania, then we are a long way off yet.

 

It's an old chart(thumbnail below) I know but worth looking at every now and again to get perspective.

 

BUT, the reaction in the markets with the 'Japan situation' did/does have me concerned. I have been watching price reaction to many different situations over the years and admit that I fully expected a near direct inverse reaction in price for financials and 'safety' of Gold. I thought this would make an interesting trial run to a bigger end of world senario, bit like a school fire drill etc and was shocked to see the price fall. I understand the reaction with the paper market as positions need to be closed out quickly but I noticed the price of physical falling with the likes of coin invest. Do people think this was/is down to margin requirements or the sudden realisation that when the Poop really hits the fan you can't eat the stuff?(as they say).

 

 

 

 

 

 

[d2thdr]

Yes gold is a bubble. Please sell your precious. to me

[fitkid]

I have held physical Gold & Silver for a few years now. I will hold until

a)my Sister phones me and asks "how do I buy Gold" or

b)The front page of the Sun reads 'Gold hits record highs' as a headline.

 

Everyone must reach their own conclusions on how far this has to go. Personally, I have taken the view that Yes this is a bull market (obviously!). Therefore if this is a bull market does it have the makings of a mania/bubble?, quite possibly yes it does. If it does then of course it will follow the pattern of every other mania. If it follows the pattern of every other mania then we will see:

 

extended mainstream media coverage in the UK

articles in the tabloids

middle shelves of the news agents crammed with 'shiny metal stuff' mags

TV adverts with "we SELL any gold.com" type themes

My Sister phoning me about how to buy gold.

 

So IF this thing has the makings of a potential mania, then we are a long way off yet.

 

It's an old chart(thumbnail below) I know but worth looking at every now and again to get perspective.

 

BUT, the reaction in the markets with the 'Japan situation' did/does have me concerned. I have been watching price reaction to many different situations over the years and admit that I fully expected a near direct inverse reaction in price for financials and 'safety' of Gold. I thought this would make an interesting trial run to a bigger end of world senario, bit like a school fire drill etc and was shocked to see the price fall. I understand the reaction with the paper market as positions need to be closed out quickly but I noticed the price of physical falling with the likes of coin invest. Do people think this was/is down to margin requirements or the sudden realisation that when the Poop really hits the fan you can't eat the stuff?(as they say).

 

 

I thought this would make an interesting trial run to a bigger end of world senario, bit like a school fire drill etc and was shocked to see the price fall.

 

Whilst the CONmex is still in play nothing should shock you.

 

ONE thing that you have not mentioned but i see as a KEY fundamental indicator for the next stage of any major further developments in the physical gold market is a CESSATION of the incessant 'WE WANT TO BUY (ROB) YOU OF YOUR GOLD ADS.'

 

I think this will mark a movement towards the next phase of this market.

[frizzers]

Paul Tustain presentation:

 

http://www.bullionvault.com/GoldWhereToNow/Part1.html

[chazza]

This one here? http://gold.approximity.com/since1959/Gold_Price_to_MZM_Equilibrium_Price.html

 

Here is an explanation of what it shows: http://gold.approximity.com/gold_price_model.html

...

 

To explain, was chatting to some work colleages (in finance industry - i know, i know) about why I would (am) still buy(ing) gold. Didnt go into much detail so they could air there own views/make up their own minds.

 

I think one quietly gets it, the other was not a buyer at all "far too expensive".

[Pixel8r]

Thanks for the explanation...........

 

I was going to rudely ask if you could redraw your chart with the next Pixel8r 'R5' line on it.

 

I would print that one out and blue tack it to my office wall...............

 

Where would you place the green circle on the 'R4' line ?

I have been looking at this again today, but I can't make my maths make sense of it. If I manage to make sense of it I will post a chart, but don't hold your breath.

[Pixel8r]

Okay I have made sense of my maths from the last graph. I have actually moved the Line at R4, because my original calculation was out slightly. Here's the new chart with the calculations and the line at R5 marked.

 

The calculation puts R5 at $1800 in around May 2013, but I honestly do think that we will reach there before then. With the correct position being marked on the graph for the R4 Line, you can see we have already broken through that line and come back and tested it.

 

R1 = 0
R2 = 4.8
R3 = 10.85
R4 = 18.47
R5 = 28.07

R2 - R1= G1 (4.8 - 0 = 4.8)
R3 - R2 = G2 (10.85 - 4.8 = 6.05)
R4 - R3 = G3 (18.47 - 10.85 = 7.62)


G2 - G1 / G1 x 100 = % Gain  (6.05 - 4.8 / 4.8 x 100 = 26 %)
G3 - G2 / G2 x 100 = % Gain (7.62 - 6.05 / 6.05 x 100 = 26%)

R3 - R2 = 6.05 + 26% = 7.62 + R3 = 18.47 R4
R4 - R3 = 7.62 + 26% = 9.6 + R4 = 28.07 R5

 

 

[frizzers]

Paul Tustain presentation:

 

http://www.bullionvault.com/GoldWhereToNow/Part1.html

Folks, this presentation lasts an hour, but it really is excellent.

 

I am halfway through and just heard this line which I loved. 'There's no way out. It's either austerity-induced collapse or debt-induced collapse.'

[Errol]

[andrew]

Okay I have made sense of my maths from the last graph. I have actually moved the Line at R4, because my original calculation was out slightly. Here's the new chart with the calculations and the line at R5 marked.

 

The calculation puts R5 at $1800 in around May 2013, but I honestly do think that we will reach there before then. With the correct position being marked on the graph for the R4 Line, you can see we have already broken through that line and come back and tested it.

 

R1 = 0
R2 = 4.8
R3 = 10.85
R4 = 18.47
R5 = 28.07

R2 - R1= G1 (4.8 - 0 = 4.8)
R3 - R2 = G2 (10.85 - 4.8 = 6.05)
R4 - R3 = G3 (18.47 - 10.85 = 7.62)


G2 - G1 / G1 x 100 = % Gain  (6.05 - 4.8 / 4.8 x 100 = 26 %)
G3 - G2 / G2 x 100 = % Gain (7.62 - 6.05 / 6.05 x 100 = 26%)

R3 - R2 = 6.05 + 26% = 7.62 + R3 = 18.47 R4
R4 - R3 = 7.62 + 26% = 9.6 + R4 = 28.07 R5

 

 

 

Pixel8r thanks for redrawing your chart. It does look like 'R4' has been passed through and tested...........

 

At the risk of coming over as thick, how did you produce the 'R' numbers

R1 = 0

R2 = 4.8

R3 = 10.85

R4 = 18.47

R5 = 28.07

 

I had a look around your 24Knews website............ Great stuff

[Pixel8r]

Pixel8r thanks for redrawing your chart. It does look like 'R4' has been passed through and tested...........

 

At the risk of coming over as thick, how did you produce the 'R' numbers

R1 = 0

R2 = 4.8

R3 = 10.85

R4 = 18.47

R5 = 28.07

 

I had a look around your 24Knews website............ Great stuff

With the redrawing of the chart I noticed a small error I had made which meant the R4 line had to be lowered and yes it seems we have gone through it and even come back and tested the breakout already. I am expecting that the rate of increase goes up soon, the further we get into this bull run the sharper the angle of increase should get.

 

The 'R' numbers are actually measurements in centimetres across the chart and I used the calculations listed above to work them out.

 

So I knew the "R1" which was 0cm then it was 4.8cm to R2 and 10.8cm to R3. So to work out R4 I worked out the gap between R2 and R1 and called it G1, then also worked out the gap between R3 and R2 and called it G2.

 

Then I worked out the percentage gain of G2 over G1 (value - cost / cost x 100= % gain) which equalled G2 - G1 / G1 x 100 = % percentage gain which equalled 26%, which is the angle of the trend line in percentage terms. In my calculations I also checked the value of G3 over G2 which should have been the same at 26% and it was.

 

Then with these calculations you can work out where the next R number comes. So for working out R4 it was R3 - R2 + % gain = R4 (10.85 - 4.8 +26% = 18.47)

 

 

There are obviously some small rounding errors in the calculations. Does that explain it well enough for you?

 

I hope to see you over at 24k sometime.

[andrew]

Pixel8r thank you for the time you've put into answering my question, it's much appreciated.

 

Yep, I think I understand now.

 

My interest is because your chart has worked so well to date.

 

See you on 24K soon.............

[carbon junkie]

That is one of my favourite charts

 

I like it when I am not in a crowd.

[LauraB]

That is one of my favourite charts

 

I like it when I am not in a crowd.

 

Gosh! - has the UK pwoperty obsession had that much worldwide influence?!!

 

Thxs CJ. There can be such beauty in simplicity.

I can hear my property mad neighbour's words: "Gold? What use is that? You can't get an income from it."

[alexreeve]

I can hear my property mad neighbour's words: "Gold? What use is that? You can't get an income from it."

I like the way Zero Hedge refer to gold simply as "the inedible metal".

[Pixel8r]

I wonder how much things will have changed over the last 2 years, it will be interesting to see an updated version of this when it comes out.

[electroweak]

Can this really be real??

 

http://www.comlaw.gov.au/Details/C2011C00034

Banking Act 1959

 

Act No. 6 of 1959 as amended

 

This compilation was prepared on 1 January 2011

taking into account amendments up to Act No. 103 of 2010

 

Part IV—Gold

 

 

 

40 Operation of Part

 

(1) This Part shall not be in operation except as provided by this section.

 

(2) Where the Governor‑General is satisfied that it is expedient so to do, for the protection of the currency or of the public credit of the Commonwealth, the Governor‑General may, by Proclamation, declare that this Part, or such of the provisions of this Part as are specified in the Proclamation, shall come into operation, and this Part, or the provisions so specified, shall thereupon come into operation.

 

(3) Where the Governor‑General is satisfied that it is no longer expedient, for the protection of the currency or of the public credit of the Commonwealth, that this Part, or any of the provisions of this Part, should remain in operation, the Governor‑General may, by Proclamation, declare that this Part, or such of the provisions of this Part as are specified in the Proclamation, shall cease to be in operation, and thereupon this Part, or the provisions so specified, shall cease to be in operation.

 

41 Transfer of gold out of Australia

 

(1) A person shall not, except with the consent in writing of the Reserve Bank, take or send any gold out of Australia.

 

(2) A person is guilty of an offence if:

 

(a) the person contravenes subsection (1); and

 

( c ) there is no instrument in force under section 48 exempting the person from the application of this subsection.

 

Penalty: 200 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

(3) An offence against subsection (2) is an indictable offence.

 

42 Delivery of gold

 

(1) Subject to this Part, a person who has any gold in the person’s possession or under the person’s control, not being:

 

(a) gold coins the total value of the gold content of which does not exceed the prescribed amount; or

 

( b ) gold lawfully in the possession of that person for the purpose of being worked or used by that person in connexion with the person’s profession or trade;

 

shall deliver the gold to the Reserve Bank, or as prescribed, within one month after the gold comes into the person’s possession or under the person’s control or, if the gold is in the person’s possession or under the person’s control on any date on which this Part comes into operation, within one month after that date.

 

(1A) A person is guilty of an offence if:

 

(a) the person fails to comply with subsection (1); and

 

( c ) there is no instrument in force under section 48 exempting the person from the application of this subsection.

 

Penalty: 50 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

(2) Where a person who has gold lawfully in the person’s possession for the purpose of being worked or used by the person in connexion with the person’s profession or trade ceases to have that purpose in respect of that gold, the person shall deliver the gold to the Reserve Bank, or as prescribed, within one month after the person has ceased to have that purpose in respect of that gold.

 

(3) A person is guilty of an offence if:

 

(a) the person fails to comply with subsection (2); and

 

© there is no instrument in force under section 48 exempting the person from the application of this subsection.

 

Penalty: 50 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

43 Vesting of gold delivered

 

All gold delivered in pursuance of section 42 shall thereupon vest in the Reserve Bank absolutely, free from any mortgage, charge, lien, trust or other interest in or affecting the gold, and the Reserve Bank shall pay for the gold, to the person delivering the gold, on behalf of all persons having any interest in the gold, an amount determined in accordance with section 44 and the Reserve Bank shall not be under any liability to any other person claiming any interest in the gold.

 

44 Payment for gold

 

The amount to be paid for any gold delivered in pursuance of section 42 shall be an amount determined in accordance with such price as is fixed and published by the Reserve Bank or, at the option of the person delivering the gold, such amount as is determined in an action for compensation against the Reserve Bank.

 

45 Limitation of sale and purchase of gold

 

(1) Subject to this Part:

 

(a) a person shall not sell or otherwise dispose of gold to a person other than the Reserve Bank or a person authorized in writing by the Reserve Bank to purchase gold; and

 

( B ) a person, other than the Reserve Bank or a person so authorized, shall not buy or otherwise obtain gold from any person.

 

(1A) A person is guilty of an offence if:

 

(a) the person fails to comply with subsection (1); and

 

© there is no instrument in force under section 48 exempting the person from the application of this subsection.

 

Penalty: 200 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

(1B) An offence against subsection (1A) is an indictable offence.

 

(2) A person may buy gold from the Reserve Bank or from a person authorized in writing by the Reserve Bank to sell gold, and the Reserve Bank or a person so authorized may sell gold to a person, for the purpose of its being worked or used by the purchaser in connexion with the person’s profession or trade.

 

(3) A person authorized by the Reserve Bank under this section shall comply with such directions relating to gold as are given to the person by the Reserve Bank.

 

(4) A person is guilty of an offence if:

 

(a) the person fails to comply with subsection (3); and

 

© there is no instrument in force under section 48 exempting the person from the application of this subsection.

 

Penalty: 200 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

(5) An offence against subsection (4) is an indictable offence.

 

46 Limitation on working of gold

 

(1) A person shall not work or use in manufacture any gold, not being gold lawfully in the person’s possession for the purpose of being worked or used by the person in connexion with the person’s profession or trade.

 

(2) A person is guilty of an offence if:

 

(a) the person fails to comply with subsection (1); and

 

© there is no instrument in force under section 48 exempting the person from the application of subsection (1).

 

Penalty: 200 penalty units.

 

Note 1: Chapter 2 of the Criminal Code sets out the general principles of criminal responsibility.

 

Note 2: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.

 

(3) An offence against subsection (2) is an indictable offence.

 

47 Application of Part

 

(1) This Part does not apply to wrought gold, not being wrought gold worked or manufactured in contravention of this Part.

 

(2) In this section, wrought gold means gold and gold alloys which on view have apparently been worked or manufactured for professional or trade purposes and includes the waste products arising from the working or manufacturing of gold and gold alloys for professional or trade purposes.

 

48 Exemptions

 

The Reserve Bank may, by instrument in writing, and either wholly or to the extent specified in the instrument, exempt a person from the application of the whole or any of the provisions of this Part and, so long as the exemption continues, that person is exempt accordingly.

[Schaublin]

Glad I lost my gold in a freak boating accident - don't have to worry about this kind of thing anymore.

[warpig]

It's dormant legislation which can be enacted upon if necessary.

 

Can this really be real??

 

http://www.comlaw.go...ils/C2011C00034

 

[Rosco]

Folks, this presentation lasts an hour, but it really is excellent.

 

I am halfway through and just heard this line which I loved. 'There's no way out. It's either austerity-induced collapse or debt-induced collapse.'

 

Just finished the final video...your right Dom really excellent......