GOLD

[azazel]

I think Jim Sinclair is correct, that we are entering phase 3 of the gold bull as I can report that my mother is considering buying some gold coins now. When she buys some phase 3 will be official, and I expect her to buy some in september. As Jim said "$1764 has the same significance as $524.90 because it represents phase 3, the point when a runaway price market for gold would gain exponential properties".

[Errol]

Sinclair latest:

 

1. There are no signs whatsoever of a top in the gold price.

2. When $1,650 was selected mathematically based on probabilities it was simply the first level off the bottom that might have offered a top. It has not.

3. The key number in the gold market is $1,764.

4. As gold approaches that number you can anticipate furious but very short price reactions.

5. Thursday and early today you may have witnessed the last great attempt of the Short Cabal to discredit gold shares.

6. Various member of the voluntary Short of Gold Shares Cabal are quietly looking towards the exit.

7. There are quite a few hedge funds now seeking quality gold share positions where the leverage might exceed the percentage leverage left in gold itself.

8. Dean Harry Schultz said that I should call him when gold trades at $2,400.

9. Stay near your phone my dear friend of more than 45 years, Dean Harry.

10. Alf Fields, a man a great integrity, went silent two years ago because he did not want to publish short term interim highs that might have lost gold positions for the less than fleet of foot. Before Alf went quiet he spoke of $3,000 plus. I believe Alf to be the man to watch, if he will speak.

11. The compromise crafted by the US Senate and House by which the debt ceiling was raised is the event that has broken confidence in US financial management internationally. History books will point that out as the low point of judgment in this entire drama.

12. As long as the good Lord permits me, I will be by your side. My job is not to pontificate but to identify resources for you. Every trade has two events. One is in and the other may be diversification. I dedicate myself to seeing that clearly for you. A virtual reserve currency is coming. You will not be able to own or trade that virtual reserve currency as you have been able with the dollar. Gold will be attached to that virtual reserve currency via a broad measure of world liquidity. It will be something akin to a planetary measure of liquidity as M3 was in the past for the dollar. That linkage, which is not convertibility, will translate into price, but no central bank of any nation will need to add to or delete from their then reserves.

The Goldmans of the world will invent OTC derivatives and maybe even a listed second derivative to speculate on word liquidity via the gold price. There will be no 1980 type collapse in the gold price. Over valuation which occurs in all bull markets might be by 20%. This will result in producing gold mining shares becoming the utilities of 2016 onward.

 

http://www.jsmineset.com/

[fitkid]

Latest from Andrew gause Wednesday, August 3

http://www.oneradionetwork.com/the-real-world-of-money/the-real-world-of-money-with-andrew-gause-august-3-2011/

 

As Andrew says…”we’re raising the debt ceiling…

Treasury is borrowing 335 billion dollars between

today and September…..and running a deficit of

150 billion dollars per month…we have 43 billion

dollars in real cuts over the next 2 years”.

What does this all mean?

They’re cutting the deficit, not the debt

and Andrew projects that by 2016 the total gross

public debt, under the current budget with all

the cuts will be 20 trillion dollars!..6 trillion

more than it is right now.

 

-Why did gold go up $40 yesterday?

-Who are “The Boys”?

-The dollar will continue to fall

[romans holiday]

What do you guys think gold will do on Monday?

Looking a little toppy here. Wouldn't be surprised to see it consolidate around these levels for a bit.

 

[Carlton]

I think Jim Sinclair is correct, that we are entering phase 3 of the gold bull as I can report that my mother is considering buying some gold coins now. When she buys some phase 3 will be official, and I expect her to buy some in september. As Jim said "$1764 has the same significance as $524.90 because it represents phase 3, the point when a runaway price market for gold would gain exponential properties".

My father asked me yesterday if I owned gold. I didn't mention the physical but said I had done okay with gold and silver shares. He's always watched the markets but considered au/ag bugs a bit odd. When he's asking me about au I have to wonder if phase three is here for real.

 

I hope Sinclair is right when he says there will be no 1980 style collapse.

[PlatinumZ]

My father asked me yesterday if I owned gold. I didn't mention the physical but said I had done okay with gold and silver shares. He's always watched the markets but considered au/ag bugs a bit odd. When he's asking me about au I have to wonder if phase three is here for real.

 

I hope Sinclair is right when he says there will be no 1980 style collapse.

 

Best to use gold as a hedge though, right? Sure, in a hyperinflationary environment you could theoretically do extremely well from your gold stash, although that is by no means guaranteed. Best bet is to have a bit of this, a bit of that, and a bit of the other

[Jake]

Carlton, are you not tempted to trade gold for property there in the US? If not, then when ie ratio wise what are you gunning for? 50oz/home? Cheers, jake

[Pixel8r]

Looking a little toppy here. Wouldn't be surprised to see it consolidate around these levels for a bit.

 

But your not using a log graph.

 

I am expecting there to be increased volatility during this week, probably a bit of a pullback on Monday until they are forced to announce some more printing to save the stock market. When it comes down to it there will be more printing which will be very positive for the price of gold. There are reports around that there is a large amount of money on the sidelines waiting for an opportunity to buy, at some point that money will be waiting no longer and getting in.

 

[CIGA]

I think Jim Sinclair is correct, that we are entering phase 3 of the gold bull as I can report that my mother is considering buying some gold coins now. When she buys some phase 3 will be official, and I expect her to buy some in september. As Jim said "$1764 has the same significance as $524.90 because it represents phase 3, the point when a runaway price market for gold would gain exponential properties".

 

More and more people in general are recommending to ME that I should buy gold, I let them slam their reasons to me then say. 'yeah I know - been buying since 2006, but ... I haven't heard you mention swinging sister silver ... " stage 3 may be upon us sooner than we think, however I would like to see a couple more years of solid steady gains first ..

[electroweak]

But your not using a log graph.

Actually, it was a log plot.. the divisions are closer together nearer the top

[Pixel8r]

Actually, it was a log plot.. the divisions are closer together nearer the top

Oh yeah I see now (sorry RH).

 

Lets all look at the reasons as to why the gold price will escalate over the coming years;

 

1. Central Banks have turned net buyers in a big way, around 200 tonne so far this year. After years of being net sellers, that has got to put more pressure on the price and cause the rate of increase to escalate.

 

2. Increased debasement of fiat currencies, this is starting to be recognised by joe public.

 

3. Financial problems escalating not easing (there never is any solutions just actions that postpone and elevate the situation).

 

4. Gold buyers are no longer looked at as being weirdos, but are starting to be recognised as onto something.

 

I think the reasons stated above show how the steady escalation in the price of gold that the gold cartel have been trying to instil will end up overcoming them in the following year. This will bring about the final mania stage in the bull run (which I believe will last probably a couple of years).

 

 

[Pixel8r]

Jim Sinclair interviewed by James Turk at the GATA goldrush in London.

http://www.youtube.com/watch?v=IF24atvNkSo

[Jake]

Great stuff pixel. Apleasure to have those two on gei. Roll on next week.

[fitkid]

More and more people in general are recommending to ME that I should buy gold, I let them slam their reasons to me then say. 'yeah I know - been buying since 2006, but ... I haven't heard you mention swinging sister silver ... " stage 3 may be upon us sooner than we think, however I would like to see a couple more years of solid steady gains first ..

Why?

[warpig]

Good video, I'll post this at HPC as well.

 

I think raising the debt limit in the US was a pivotal moment. Sod seasonals, sod linear decline, sod the take downs. All bets are placed, it's time to spin the roulette wheel.

 

Jim Sinclair interviewed by James Turk at the GATA goldrush in London.

[electroweak]

APMEX is apparently not accepting orders for gold/silver this weekend...(!)

:blink:

(APMEX is huge, btw!)

 

 

http://www.youtube.com/watch?v=A3RoMqSsvBA

 

ATTENTION: Due to the uncertainty in the Global Precious Metals markets, we will not be able to accept any additional orders until the global markets reopen in Asia. We expect to be accepting orders around 6:15pm ET Sunday August 7th.

[Perishabull]

APMEX is apparently not accepting orders for gold/silver this weekend...(!)

:blink:

(APMEX is huge, btw!)

 

 

http://www.youtube.com/watch?v=A3RoMqSsvBA

 

ATTENTION: Due to the uncertainty in the Global Precious Metals markets, we will not be able to accept any additional orders until the global markets reopen in Asia. We expect to be accepting orders around 6:15pm ET Sunday August 7th.

 

The spread on BullionVault for gold in New York is $106 at the moment...

 

[Bakez]

When do Asian markets open in British time tonight?

[Bakez]

11pm?

[Perishabull]

11pm?

 

On my ThinkorSwim platform currency markets open at 10pm tonight, futures markets open at 11pm.

[TinBrick]

APMEX is apparently not accepting orders for gold/silver this weekend...(!)

:blink:

(APMEX is huge, btw!)

 

 

Interesting straw in the wind!

 

I recall reading a couple of years ago, I think on James Turk's blog, a comment to the effect (I'm paraphrasing here) that one Monday morning we'd wake to find the price of gold in Asia is $5,000 bid, none offered. Could this be the Monday? We can always hope!

[Carlton]

Best to use gold as a hedge though, right? Sure, in a hyperinflationary environment you could theoretically do extremely well from your gold stash, although that is by no means guaranteed. Best bet is to have a bit of this, a bit of that, and a bit of the other

This makes sense. However, if you think of gold more as a currency than as a mere hedge it seems logical to own relatively more of it, no?

 

Carlton, are you not tempted to trade gold for property there in the US? If not, then when ie ratio wise what are you gunning for? 50oz/home? Cheers, jake

Yes, I am tempted and will probably pull the trigger on RE within 12 months. Although, I am facing some psychological impediments to homeownership: feeling married to the local (tax) jurisdiction, and feeling married to my job. The job is good, but I'm a wandering "global citizen" at heart.

 

We are lucky/cursed that many homes can still be purchased with 3.5% down payments. You could look at this and say that down payments haven't gone up yet, so home prices may still fall. But in our case we've had these low down payment options, FHA loans and Homepath loans, for decades, before the housing bull and now after it.

 

I'm inclined to think we are near the bottom in home prices. They could spike down to 70 or 50 ounces but anything more is getting into rare/unprecedented territory.

[Bakez]

Interesting straw in the wind!

 

I recall reading a couple of years ago, I think on James Turk's blog, a comment to the effect (I'm paraphrasing here) that one Monday morning we'd wake to find the price of gold in Asia is $5,000 bid, none offered. Could this be the Monday? We can always hope!

In most material I've read concerning peak oil and similar issues like this, the overwhelming picture indeed seems to be something similar - that one day people will wake up and it will have happened, there will be very little warning.

 

The same is probably true in past events that actually have already happened.

[Bakez]

What I wonder is, if Gold does go to $10,000 an ounce, how will people with gold be better off? What can a normal person realistically do with gold other than wait until things normalise again and then sell it for the new currency that comes in?

[glass]

What I wonder is, if Gold does go to $10,000 an ounce, how will people with gold be better off? What can a normal person realistically do with gold other than wait until things normalise again and then sell it for the new currency that comes in?

 

 

Pay off any debts - that's my plan (mortgage).

 

$1821 at bullion vault we're past that Sinclair figure now