GOLD

[lifechooser]

...however the downside to this is that they are far more softer than the 22Ct copper mix Krugers and Sovereigns. Future resale value can be affected by dimples / nicks.

No it can't.

 

I can smack my coins around with a hammer if I like, and they will still be worth $879 each.

[G0ldfinger]

Hi Goldfinger,

 

Why buy the Maples when Sovereigns are CGT free?

Please bear in mind i'm relatively new to all this (well physical, anyway) and may be missing the obvious.

I get bored when I always play with the same coins.

 

Also, they are 1/10oz coins. I.e. they will buy a shelf in the supermarket, while a 1oz Britannia or a 1/4oz Sov might buy the whole store (in the not too distant future). And the latter one could be unpractical.

[darreng1000]

thanks for the answers guy. i think i shall diversify!

[jinbal]

USDX almost up to 80 again

 

And look at POG - holding it's own -for now lol

 

I like that

[ziknik]

thanks for the answers guy. i think i shall diversify!

 

If you’re looking for small gold coins, have a look at French coins on coins invest direct. They have a lower premium (over spot) than Krugs

[ziknik]

By the way, I did mention this but got no response.

Do any of you guys use this great website ?

 

http://netdania.com/Products/ChartStation/ChartStation.aspx

 

Gold is still alive on there

 

Great link. Thanks.

 

I was using Goldprice because it gives live gold and silver in a choice of currencies but it has stopped working on my work computer.

 

[Mr Pipples]

Private banks rethinking gold, seen next big buyers: http://in.reuters.com/article/businessNews...-35707320080929

[Dispassion]

Local resistance at 886 broken.

[Ret45]

 

Gold now within 3% of all time high for eurolanders...

[Pixel8r]

We Are in the Sixth Inning - James Turk

 

As we begin this year's fourth quarter, it may be useful to step back from the trees and take a look at the forest. The big picture is shaping up pretty much as expected.

 

In my February 1st alert I laid out my expectations for this year, specifically that "2008 is shaping up much like 1974. There are many similarities. These include rapidly rising inflation and growing monetary problems not only in the States, but across the globe. In fact, the last serious global credit crisis before the present one occurred in 1974...If history is any guide - and I really do believe that it is - then the current banking and credit crisis is going to get much worse before it gets better. Years of imprudent reckless lending are taking its toll on the global banking system."

 

Six weeks later in my March 16th alert I re-emphasized this point noting that the events then unfolding "adds more support to my view that 2008 is shaping up like 1974".

 

Given the several months that have passed, it may be more accurate to say that the parallels are closer to 1932 because the wealth destruction today is far greater than occurred in 1974. I didn't live through the banking and monetary turmoil in 1932 as I did in 1974. But I have studied the 1930s closely, and events are evolving today as they did back then, with one major exception. The tremendous wealth destruction we are witnessing today is inflationary, not deflationary.

 

The wealth destruction during the Great Depression led to deflation because the dollar was on a gold standard. As the economic and monetary situation deteriorated, promises were increasingly broken, which made financial assets of all sorts suspect. So people moved wealth from financial assets into tangible assets, and the 1930s deflation was the inevitable result because people converted their dollars into the safety of gold, which forced a contraction of bank balance sheets. Consequently, the money supply contracted.

 

Today of course the dollar is no longer formally linked to gold, and the money supply continues to soar at double-digit rates. Inflation is the result. After all, despite all the wealth destruction we are seeing today, where's the deflation? Who can honestly say that their cost of living is declining? Even though the price of gasoline has dropped recently, its price is still far higher today than a year or two ago.

 

The point is that the cost of living is rising. The dollar is being inflated, and given the way the Federal Reserve and central banks around the world are printing money, it is quite clear to me that inflation is going to get much worse.

 

Politicians and government authorities alike continue to ignore one crucial fact. Many banks are insolvent, including some of the world's biggest. So the continuing efforts by central banks to add liquidity does not in any way make these banks solvent. As a consequence, the core problems of the crisis are not being addressed, and perhaps even being impeded from resolution because the half-baked ideas of governments and their captive central banks seemingly ignore this stark reality that so many banks are insolvent.

 

So while much of the financial crisis is behind us, we still have a long way to go. To put it in baseball terms, I think we are in the sixth inning. The worry though is that I fear this game is going into extra innings.

 

So continue to 'batten down the hatches' and avoid counterparty risk. The best way to do that is to own gold and silver. As the following charts show, they remain in bull markets. Throughout the world, as people are becoming increasingly fearful about their 'money in the bank', sound money is becoming an increasingly important safe-haven.

 

[G0ldfinger]

DER SPIEGEL in Germany now reports on the impending gold mania and the physical shortages:

http://www.spiegel.de/wirtschaft/0,1518,581719,00.html

[LauraB]

Far too much gold ramping going on

 

which means bail-out planII will be passed

 

& gold will crash

 

for a few weeks

 

??

[Vilhelm84]

Far too much gold ramping going on

 

which means bail-out planII will be passed

 

& gold will crash

 

for a few weeks

 

??

 

Record physical buying all over the world! GATA would have a field day if POG would crash

[Dispassion]

It looks certain now that the gold price has decoupled from the Euro/Dollar.

[lardoon]

Record physical buying all over the world! GATA would have a field day if POG would crash

 

Do you have stats on that?

[darreng1000]

if there is now record physical buying, what was it that pushed the price to over $1000 earlier this year?

paper trading?

[Errol]

Rang ATS Bullion today about some 1oz coins. They are out of pretty much everything. They didn't even have any 1/2 ounce eagles.

 

It's getting silly.

[rich6400]

if there is now record physical buying, what was it that pushed the price to over $1000 earlier this year?

paper trading?

 

Weak US dollar. It cost less to convert foreign currency to US, so the price was about the same as it is today in euro / Swiss / GBP terms. 1000$ today for those currencies would be a lot more expensive than it was in March!

[Vilhelm84]

Do you have stats on that?

 

http://www.ft.com/cms/s/0/9ce251de-8f37-11...00779fd18c.html

 

That just what I could finding fast, but I have been seen that kind of news all month.

Plus they just banned gold buying in Vietnam.

[lardoon]

if there is now record physical buying, what was it that pushed the price to over $1000 earlier this year?

paper trading?

 

I was wondering similar question...

 

I know that the PPT has probably managed to deflate a lot of the speculative pressure in commodities from the hedge funds and that has affected PoG.

 

However, with the real fear (cpty risk) that is currently priced in the market (cf. Libor-OIS spread) I find it bizarre that we are still $150 (and even more in real terms ) below the high from March.

 

On the other hand, there could well be a very strong interest and effort from the PPT to avoid price run and a rush to gold (and a run from the banks accentuating the problem...)

[lardoon]

http://www.ft.com/cms/s/0/9ce251de-8f37-11...00779fd18c.html

 

That just what I could finding fast, but I have been seen that kind of news all month.

Plus they just banned gold buying in Vietnam.

 

Thanks but... bummer I cant read it! (already read my quota of 30 articles a month...)

[Vilhelm84]

What Would happen if SPDR GOLD ETF announced that they could not buy any more gold out of the market. So they don´t take new owners!

 

Just an idea that came to me while reading http://www.jsmineset.com/cwsimages/Miscfil...ld1230pmCDT.pdf

[Vilhelm84]

Thanks but... bummer I cant read it! (already read my quota of 30 articles a month...)

 

Jonathan Potts, managing director at FideliTrade, one of the main US gold dealers in coins and investment bullion bars, says its firm has not been able to cope with the extra demand for physical gold in the past few weeks. “There is a lot of scepticism, or even distrust, about the financial system and people are running into gold,” Mr Potts says. “The US Mint is doubling its gold coins production but there is demand for triple,” he added.

 

Mr O’Byrne adds that key wholesalers have run out of stocks or are imposing quotas for the most popular one-ounce coins, such as South African Krugerrands, American Eagles and Buffaloes, Canadian Maples, Austrian Philharmonics, Chinese Pandas and Australian Nuggets.

 

“They cannot supply one or 10-ounce gold bars either,” he said,

[HPCsoYESTERDAY]

delusional ramblings from Realisttwit:

 

http://forum.globalhousepricecrash.com/ind...=41580&st=0

 

As for gold. I no longer believe it will crash to $500. I believe it will drop to $300-$400. When? When it has sunk into enough financial pundits heads that the 20-50 trillion $$$ that has been spent on the global bubble will have huge implications that will lead to severe deflation, perhaps for a generation. I also forecast a commodities collapse many months before the metals began to drop because it was obvious to me that the global HPCs would cause recession/depression and a huge drop off in demand--even in China.

[GTG]

Thanks but... bummer I cant read it! (already read my quota of 30 articles a month...)

 

Investors start fresh gold rush

By Javier Blas

 

Published: October 1 2008 00:58 | Last updated: October 1 2008 00:58

 

“Fiat money, in extremis, is accepted by nobody,” Alan Greenspan, the former chairman of the US Federal Reserve, told lawmakers in Washington almost a decade ago. “Gold is always accepted,” he added.

 

The “in extremis” scenario was for years only a possibility in the mind of die-hard gold bugs, but the financial crisis is leading regular investors – from the ultra-rich to middle-class savers – to believe that the environment in which Mr Greenspan said fiat money would be worthless is now around the corner.

 

EDITOR’S CHOICE

In depth: Gold - Jul-21Lex: Gold - Sep-30Wealthy investors hoard bullion - Sep-30Gold coin sales halted after retail rush - Sep-25European central banks cut sales of gold - Sep-28Precious metals tarnished by dollar recovery - Sep-10The investors’ response is a rush into physical gold not seen since the second oil crisis in 1979, bankers say. The shift into gold coins and bars is so extreme that it is causing shortages at refineries and mints around the world.

 

“This is absolutely unprecedented,” says Mark O’Byrne of Gold Investment, a company that sells bullion to retail investors in Dublin and London.

 

Bankers at the London Bullion Market Association’s annual meeting in Kyoto say their clients are not investing in gold just because of its perceived safe-haven status but also because they were able to take physical possession of it.

 

Veterans of the precious metals industry, such as Jeremy Charles, the chairman of the LBMA who is also head of precious metals at HSBC, say they have not seen a market like this in their 30-year-plus careers.

 

Gold prices surged this week to a two-month high above $925 an ounce, up more than 20 per cent since the collapse of Lehman Brothers. But betting that the investors’ rush into physical assets will spur further gains could fail. Current prices are already depressing the key demand for jewellery, and that alone will cap prices.

 

The gold industry only forecasts a modest rise in prices, with bullion at about $958.6 a troy ounce by November next year, according to the annual LBMA poll.

 

On top of that, even if the retail investors’ rush into gold coins is dramatic and unprecedented, its impact in gold tonnage terms is relatively small, preventing big price gains. But bankers say the price outlook is not the first consideration among those investors more concerned about “wealth preservation”.

 

These new “gold bugs” were pushing the physical market for coins and small bars to its limits, with manufacturers unable to meet demand, LBMA delegates say.

 

Jonathan Potts, managing director at FideliTrade, one of the main US gold dealers in coins and investment bullion bars, says its firm has not been able to cope with the extra demand for physical gold in the past few weeks. “There is a lot of scepticism, or even distrust, about the financial system and people are running into gold,” Mr Potts says. “The US Mint is doubling its gold coins production but there is demand for triple,” he added.

 

Mr O’Byrne adds that key wholesalers have run out of stocks or are imposing quotas for the most popular one-ounce coins, such as South African Krugerrands, American Eagles and Buffaloes, Canadian Maples, Austrian Philharmonics, Chinese Pandas and Australian Nuggets.

 

“They cannot supply one or 10-ounce gold bars either,” he said,