kernull Posted September 16, 2008 Report Share Posted September 16, 2008 well, interest rates kept, looks like the dollar rally continues. gold & silver do not look very optimistic Link to comment Share on other sites More sharing options...
warpig Posted September 16, 2008 Report Share Posted September 16, 2008 Beautiful analogy, (rofl) thanks! they remain a festering boil on the arse of the global banking system. Link to comment Share on other sites More sharing options...
kernull Posted September 16, 2008 Report Share Posted September 16, 2008 There is going to be at least one more big institutional implosion. So it might be wise to wait. However, if you've got enough in your margin account then now is as good a time as any to short. these guys are pretty good, they figured out dow is testing 11200 and sold off today, now they will go up again when dow shows first signs of failure, in the mean time, test the support. Link to comment Share on other sites More sharing options...
warpig Posted September 16, 2008 Report Share Posted September 16, 2008 I'm watching and learning every day, this is really quite an eye opener for someone unfamiliar with the industry. I hope someone writes a good book about this when it's all over... It is all about deflation at the moment. We have a credit crisis and now a banking crisis. The market is running to cash. Commodity prices are in decline as hedge funds deleverage. Gold is holding its own, starting to stir and looks to be decoupling from commodities [watch oil]. Inflation [imbalances in the dollar] is still waiting in the wings. When the currency crisis hits, it will have its day and so will gold. But am still a little confused. Edit. Link to comment Share on other sites More sharing options...
Catflap Posted September 16, 2008 Report Share Posted September 16, 2008 well, interest rates kept, looks like the dollar rally continues. gold & silver do not look very optimistic Kind of my thoughts and I've stayed in cash waiting for a reversal signal on the dollar index. Link to comment Share on other sites More sharing options...
Gatesy Posted September 16, 2008 Report Share Posted September 16, 2008 I took this as incredibly "weak dollar" talk. http://www.bloomberg.com/apps/news?pid=206...&refer=home Fed Keeps Rate at 2%, Rebuffing Call for Reduction Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to weigh on economic growth over the next few quarters,'' the FOMC statement said. ``Over time, the substantial easing of monetary policy combined with ongoing measures to foster market liquidity, should help to promote moderate economic growth.'' Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 16, 2008 Report Share Posted September 16, 2008 Key to riches in an uncertain climate? An internet gold-trading scheme is growing fast http://business.timesonline.co.uk/tol/busi...icle4748057.ece PAUL TUSTAIN is one London entrepreneur who can afford to look on the bright side of the economic slow-down. Five years ago the financial software specialist saw the potential of gold trading and had the confidence to back his own judgment. He set up Galmarley, a research company focusing on gold, and then, two years later, launched BullionVault, an online exchange for trading gold bullion, run from offices in Hammersmith, west London. “The credit crunch means we are doing a lot more business,” says Tustain, 45. “It’s hard to hold on to the value of assets through economic crisis - gold is a way of doing that.” BullionVault enables participants to buy and sell high-quality gold by the gram. Anybody with £2,000 or more to spare might think of pitching in. It attracts, says Tustain, the kind of people who are “appalled by the monetary and fiscal mismanagement of governments, most notably in the United States and the UK. They no longer trust the currency”. The seeds of the BullionVault idea were sown in 2000, and Gordon Brown was the inspiration. As chancellor of the exchequer, he took the decision to sell off several parcels of Britain’s gold reserves. “He announced that he would sell 20 tons on a particular day – and on that day, prices went through the floor,” Tustain recalls. “I bought my first gold at about $270 an ounce.” Gold broke the $900 barrier earlier this year and is currently trading at about $770 an ounce. . . . With turnover of £41m in 2007 and a forecast of £200m this year, Galmarley seems to have got well beyond first base. BullionVault has 60,000 users in more than 80 countries and Tustain’s next step will be to make it more visible in the United States. “We do 40% of our business in America. Probably on the strength of the product, the way it is put together and the transparency of the offering, when Americans find it, they very happily buy gold through us and store it in Zurich.” Two studies into how the most innovative entrepreneurs grow their firms, carried out 10 years apart by Cranfield School of Management’s business growth and development programme, suggest Tustain’s focused approach could pay dividends. “The received wisdom is that entrepreneurs are always coming up with the next new idea and going off and doing it,” says Gerard Burke, head of the programme. “But we found in almost 90% of cases that the people running the most successful businesses are not doing that. Link to comment Share on other sites More sharing options...
narco Posted September 16, 2008 Report Share Posted September 16, 2008 Hmm... Just been flicking through some of the energy and metals charts and got a bad feeling. Platinum has seriously tanked. It looks more like the great crash of 1929 than a healthy bull market correction. Link to comment Share on other sites More sharing options...
narco Posted September 16, 2008 Report Share Posted September 16, 2008 Silver is just plain ugly. The entire move up from 06/07 completely erased. Palladium the same. As for gold... Link to comment Share on other sites More sharing options...
azazel Posted September 16, 2008 Report Share Posted September 16, 2008 All silver now unavailable from coininvestdirect for delivery to UK!!! Blimey Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 16, 2008 Author Report Share Posted September 16, 2008 Platinum and palladium look almost like good buys at this stage. Will we see the crossover gold-platinum soon? Link to comment Share on other sites More sharing options...
narco Posted September 16, 2008 Report Share Posted September 16, 2008 All silver now unavailable from coininvestdirect for delivery to UK!!! Blimey Any more news on this? I can't find anything on the site. Link to comment Share on other sites More sharing options...
azazel Posted September 16, 2008 Report Share Posted September 16, 2008 Any more news on this? I can't find anything on the site. Try and buy some and it says that delivery is not possible to GB. Looks like the end of reasonable priced silver until next year. I will be buying only gold from now on. I hear BullionVault are considering doing VAT free vaulted silver, so maybe I will get some there. Link to comment Share on other sites More sharing options...
CIGA Posted September 16, 2008 Report Share Posted September 16, 2008 Try and buy some and it says that delivery is not possible to GB. Looks like the end of reasonable priced silver until next year. I will be buying only gold from now on. I hear BullionVault are considering doing VAT free vaulted silver, so maybe I will get some there. goldmoney.com Link to comment Share on other sites More sharing options...
drbubb Posted September 16, 2008 Report Share Posted September 16, 2008 Look at those Gold lease rates - Sept.16th 1-month 0.7761% +0.3409 2-month 0.8209% +0.2379 3-month 0.8906% +0.2276 6-month 1.0520% +0.2607 1-year : 0.9954% +0.2646 /see: http://www.kitco.com/market/LFrate.html This is bullish. Even paper Gold is getting hard to find & borrow. The big jumps of yesterday are noteworthy 6 month rates over 1% ! - we dont see that very often Link to comment Share on other sites More sharing options...
Dispassion Posted September 16, 2008 Report Share Posted September 16, 2008 Look at those Gold lease rates - Sept.16th 1-month 0.7761% +0.3409 2-month 0.8209% +0.2379 3-month 0.8906% +0.2276 6-month 1.0520% +0.2607 1-year : 0.9954% +0.2646 /see: http://www.kitco.com/market/LFrate.html This is bullish. Even paper Gold is getting hard to find & borrow. The big jumps of yesterday are noteworthy 6 month rates over 1% ! - we dont see that very often I've been working on the pricinple that the only reason to borrow gold is to short it. Am I missing something? Link to comment Share on other sites More sharing options...
headmelter Posted September 17, 2008 Report Share Posted September 17, 2008 Slightly off topic but I tried to buy some silver from coin invest tonight and every coin is giving me this text. Lunar 'Mouse' 1 Oz silver 2008 . Country: Australia Weight: 31.10 Gramm Purity: 999 / 1000 Buy Price: £6.88 SELL NETTO PRICE: £9.09 SELL BRUTTO PRICE: £9.09 This item is not available for shipment to the selected Ship To country Great Britain until next calendar year. For 2008 we have reached the limit of VAT liable goods as per Article 34 of EC directive 2006/112/EC, VAT directive. Please chose a different Ship To country. :huh: Anyone else tried? Link to comment Share on other sites More sharing options...
azazel Posted September 17, 2008 Report Share Posted September 17, 2008 Slightly off topic but I tried to buy some silver from coin invest tonight and every coin is giving me this text. Lunar 'Mouse' 1 Oz silver 2008 . Country: Australia Weight: 31.10 Gramm Purity: 999 / 1000 Buy Price: £6.88 SELL NETTO PRICE: £9.09 SELL BRUTTO PRICE: £9.09 This item is not available for shipment to the selected Ship To country Great Britain until next calendar year. For 2008 we have reached the limit of VAT liable goods as per Article 34 of EC directive 2006/112/EC, VAT directive. Please chose a different Ship To country. :huh: Anyone else tried? I will try and get some more info on it tomorrow. Perhaps the vat rate will go back to 7% next year? Link to comment Share on other sites More sharing options...
drbubb Posted September 17, 2008 Report Share Posted September 17, 2008 I've been working on the pricinple that the only reason to borrow gold is to short it. Am I missing something? sure.\ banks borrow it, sell it, and lend the money to gold miners the gold miners repay gold and / Institutions that borrowed gold previously are seeing their borrowing costs rise, and that will encourage them to buyback gold to cover their shorts Link to comment Share on other sites More sharing options...
gudz Posted September 17, 2008 Report Share Posted September 17, 2008 Platinum and palladium look almost like good buys at this stage. Will we see the crossover gold-platinum soon? I'm inclined to agree GF. Does anyone know of a good/safe way to get exposure to Platinum, besides buying a ring for the wife/girlfriend? Link to comment Share on other sites More sharing options...
qwerty Posted September 17, 2008 Report Share Posted September 17, 2008 Platinum and palladium look almost like good buys at this stage. Will we see the crossover gold-platinum soon? Maybe a crystal ball but they are both industrial metals mostly and demand will be down in a global recession ? Silver and gold monetary metals here is was happened in the last reccession 2001/03 look what happened to silver! gold but especially the gold miners. Unfortunatley I cannot find a chart for plat/pall in that timeframe to compare with the above would be interesting to see? What Happened in the Last Recession and Bear Market? http://jessescrossroadscafe.blogspot.com/2...ession-and.html Link to comment Share on other sites More sharing options...
wren Posted September 17, 2008 Report Share Posted September 17, 2008 All silver now unavailable from coininvestdirect for delivery to UK!!! Blimey Is that due to a VAT law or what? I can't buy silver at all from them as I am in Finland and it says that their allowance for that country according to EU VAT Law XYZ for the year has been exceeded. I assumed that UK business was big enough for them to make other arrangements (e.g. pay the UK VAT rate). All the same, an annoyance for me. Link to comment Share on other sites More sharing options...
wren Posted September 17, 2008 Report Share Posted September 17, 2008 This item is not available for shipment to the selected Ship To country Great Britain until next calendar year. For 2008 we have reached the limit of VAT liable goods as per Article 34 of EC directive 2006/112/EC, VAT directive. Please chose a different Ship To country. Yes, I've had that ever since June, as I am in Finland. I imagined that you guys in the UK had a special arrangement, but maybe not. Link to comment Share on other sites More sharing options...
hotairmail Posted September 17, 2008 Report Share Posted September 17, 2008 FT Alphaville on gold and its safe haven status in recent days. http://ftalphaville.ft.com/blog/2008/09/16...s-cash-round-i/ Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 Silver is just plain ugly. The entire move up from 06/07 completely erased. Palladium the same. As for gold... I think gold will hold relatively well due to the banking crisis. I do not think we will see it soar until we get a currency crisis due to the imbalances building up in the dollar. Maybe we will see this once the election is out of the way. Link to comment Share on other sites More sharing options...
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