dopamine Posted October 10, 2008 Report Share Posted October 10, 2008 The problem with the gold market is levergage upon leverage and derivative products. Just like that other market that we all know and love. Would that property was as liquid as gold. Link to comment Share on other sites More sharing options...
wren Posted October 10, 2008 Report Share Posted October 10, 2008 It worked! Meaning, exactly? Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 The pullback in gold was partly due to "some fund liquidation desperate to raise cash," said Peter Spina, president of GoldSeek.com. "The true gold market price is nothing close to the current paper gold price." "The disconnect between paper gold price and the physical gold price will not last," he added MarketWatch Link to comment Share on other sites More sharing options...
moroboshi Posted October 10, 2008 Report Share Posted October 10, 2008 Why isn’t the price falling on BV? I have been waiting to pick up a some cheap gold for over an hour. Current Spot: £496.09 BV Price: £528.60 + BVs fees (Zurich) Is this a normal spread? The spreads on BV have been all over the place today in the pound and dollar, euro a little more stable although didn't keep such a close eye on that. Not sure why that's happening, but my (novice) impression was that the volume of trades was quite low - I'm not aware of a tool on BV to show volume though, was purely by eye looking at the changes in bids/offers and the quantities involved, so not very scientific! Link to comment Share on other sites More sharing options...
ziknik Posted October 10, 2008 Report Share Posted October 10, 2008 You can buy cheap paper gold for much less. I promise you won't notice the difference. I'm not sure what you mean. Link to comment Share on other sites More sharing options...
ziknik Posted October 10, 2008 Report Share Posted October 10, 2008 There's a message on the BV ticker Limited stocks & US holiday Monday. Lots more stock arrives Tuesday. Have a good weekend! Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 Lehman - Bloomberg ``Banks can go to the Federal Reserve, or use the commercial paper market where it is still functioning'' to meet protection payments, said Cicione, who said a 9.75 cent recovery rate would lead to payments of about $270 billion. ``But fund managers or hedge funds, once they've used their cash, have only one option: to sell assets.'' Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 10, 2008 Report Share Posted October 10, 2008 The spreads on BV have been all over the place today in the pound and dollar, euro a little more stable although didn't keep such a close eye on that. Not sure why that's happening, but my (novice) impression was that the volume of trades was quite low - I'm not aware of a tool on BV to show volume though, was purely by eye looking at the changes in bids/offers and the quantities involved, so not very scientific! I've just sold what I had in BV and bought @same at GM. Sold at a fair bit above spot! Was going to buy silver as crazy price... but silver makes me shit my pants. Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 but silver makes me shit my pants. Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 10, 2008 Report Share Posted October 10, 2008 I'd go with Jim on this... Jim Sinclair’s Commentary Today is paper gold. Here is what is real gold. Germans Stockpiling Gold Amid Market Panic... Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 10, 2008 Author Report Share Posted October 10, 2008 .... ``We think this is a vote of confidence in the global banking, trading, economic system,'' said Dennis Gartman, an economist and the editor of the Suffolk, Virginia-based Gartman Letter. .... Most moronic thing I have read in two months. Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 GF you seem very calm about all of this. Doesn't the thread about making gold illegal concern you at all? I take you point of why they made it illegal before, i.e. so they could inflate, but does this remove all doubt? Link to comment Share on other sites More sharing options...
dopamine Posted October 10, 2008 Report Share Posted October 10, 2008 but silver makes me shit my pants. Yes, and once you've emptied your bowels, it's still there, taunting you with the threat of further drops. I'm now a hardened shitter over silver. Link to comment Share on other sites More sharing options...
ziknik Posted October 10, 2008 Report Share Posted October 10, 2008 The spreads on BV have been all over the place today in the pound and dollar, euro a little more stable although didn't keep such a close eye on that. Not sure why that's happening, but my (novice) impression was that the volume of trades was quite low - I'm not aware of a tool on BV to show volume though, was purely by eye looking at the changes in bids/offers and the quantities involved, so not very scientific! Ta, The EUR price is a lot better around €20 spread from Spot. USD price is nearly $70 above spot. Link to comment Share on other sites More sharing options...
azazel Posted October 10, 2008 Report Share Posted October 10, 2008 Yes, and once you've emptied your bowels, it's still there, taunting you with the threat of further drops. I'm now a hardened shitter over silver. When the real gold sellers are out of gold the masses will turn their attention to silver. Link to comment Share on other sites More sharing options...
moroboshi Posted October 10, 2008 Report Share Posted October 10, 2008 I've just sold what I had in BV and bought @same at GM. Sold at a fair bit above spot! Was going to buy silver as crazy price... but silver makes me shit my pants. Given the current prices on BV and their ticker message (thanks ziknik), I wonder if their prices are reflecting this limited stock (closer to the physical market? Always thought BV tracked spot fairly closely). Could we see recoupling to the spot price on BV on Tuesday (assuming spot doesn't rebound)? Feel very similar to you about silver , think I could only ever hold physical there Link to comment Share on other sites More sharing options...
wren Posted October 10, 2008 Report Share Posted October 10, 2008 GF you seem very calm about all of this. Doesn't the thread about making gold illegal concern you at all? I take you point of why they made it illegal before, i.e. so they could inflate, but does this remove all doubt? Have you read the history of the American episode? The term "confiscation" is heavily loaded and misleading (nothing was confiscated). How many people do you think were prosecuted under that law? Why do you think that under a new EU-wide law which came into effect on 1st Jan 2000, VAT on gold bullion was made zero EU-wide (most VAT is country-specific)? Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 10, 2008 Report Share Posted October 10, 2008 Yes, and once you've emptied your bowels, it's still there, taunting you with the threat of further drops. Me, if and when I do shit - I change... To tin foil boxers (I like to accessorize with my hat.) I'm now a hardened shitter over silver. Sounds like you need some syrup of figs, Dopamine. Link to comment Share on other sites More sharing options...
wee Jinky Posted October 10, 2008 Report Share Posted October 10, 2008 QUOTE (wee Jinky @ Oct 9 2008, 09:35 PM) I always fell Fekk ,I wish I'd bought more in a dip was ready to talk the wife into buying some more tomorrow trouble is u always feel the rockets will come when you hang fire Oh what to do what to do I can almost guarantee that the price will be lower than it is now... It's not usually wise to buy immediately after a very recent leg-up. I am so glad I listened to you must learn more Link to comment Share on other sites More sharing options...
warpig Posted October 10, 2008 Report Share Posted October 10, 2008 Weren't deposit boxes opened with someone from the IRS present and subsequently weren't they made to surrender their gold at a below recent market value? I have no idea. Any good credible links for me to read? Sorry not sure where you are leading me to with that last question, can you elaborate on this please? Have you read the history of the American episode? The term "confiscation" is heavily loaded and misleading (nothing was confiscated). How many people do you think were prosecuted under that law? Why do you think that under a new EU-wide law which came into effect on 1st Jan 2000, VAT was made zero EU-wide (most VAT is country-specific)? Link to comment Share on other sites More sharing options...
wren Posted October 10, 2008 Report Share Posted October 10, 2008 The spreads on BV have been all over the place today in the pound and dollar, euro a little more stable although didn't keep such a close eye on that. Not sure why that's happening, but my (novice) impression was that the volume of trades was quite low - I'm not aware of a tool on BV to show volume though, was purely by eye looking at the changes in bids/offers and the quantities involved, so not very scientific! I watch the euro prices (especially Zurich). Only eye-balling when I feel like it but have done so throughout this year. The spreads over the last week or two have been jumping around erratically in euros also. As I look now it's €900 per kilo, was over a thousand a minute ago. Normal is around €80-100 I'd say, but often going surprisingly lower. Thanks to ziknik for pointing out the ticker message. As suspected there's a delay in new bars getting into the vaults (presumably due to unexpectedly high demand), so the spreads are much more dependent on the customers than usual. On edit: spread down to €400 now. It's all over the place. P.S.S. I had the min trade set at 0.001 kg, so if you have a higher setting you would likely see a wider spread. Link to comment Share on other sites More sharing options...
Compounded Posted October 10, 2008 Report Share Posted October 10, 2008 It becomes patently clear to me that I don't understand any of this. The various NS&I savings vehicles are looking more appealing all the time... Volatility has been predicted to be massive as the system begins it's collapse - it makes sense if you think about it. If someone is facing margin call or similar squeeze they sell the most liquid asset - gold IMO will be sold and prices affected. NS&I is only good if you have full faith in the UK government - I have absolutley no faith in Gordy and his clowns and so will not touch NS&I. You can buy cheap paper gold for much less. I promise you won't notice the difference. Cheap paper gold is paper - IMO all paper could be reverting to it's intinsic value. Link to comment Share on other sites More sharing options...
headmelter Posted October 10, 2008 Report Share Posted October 10, 2008 Volatility has been predicted to be massive as the system begins it's collapse - it makes sense if you think about it. If someone is facing margin call or similar squeeze they sell the most liquid asset - gold IMO will be sold and prices affected. Have to agree. FWIW the spot price on 10th september was approximatley $750, so as far as I'm concerned I didn't sell any last month so I'm sure as feck not selling any this month. Next week will be good fun if this week is anything to go by. We just need to be like little fonzies. http://www.youtube.com/watch?v=Fd4VSkj0Wks...feature=related Link to comment Share on other sites More sharing options...
notanewmember Posted October 10, 2008 Report Share Posted October 10, 2008 New Wall Street Words CEO - Chief Embezzlement Officer CFO - Corporate Fraud Officer A Bull Market - A random market moving, causing investors to mistake himself as a financial GENIUS. A Bear Market - A 6-18 month period when the kids get no allowance, the wife gets no Jewellery and the husband gets no sex. Value Investing - The art of buying low and selling lower. PE ratio - The % of investors wetting their pants as the market keeps crashing [this doesn’t make sense]. Broker - What my broker has made me. Standard and Poor - You life in a nutshell. Stock Analyst - The Idiot who has just downgraded your stock. Stock split - When your ex-wife her Lawyer when they split your assets equally between themselves. Financial Planner - A guy who’s phone’s been disconnected A Market correction - That’s the day AFTER you buy the stock. Cash flow - The movement of your money as it disappears down the toilet. Yahoo! - What you yell after selling it to some poor sucker for $249 a share. Window - What you jump out of, when you are the sucker who bought Yahoo for $249 a share [now $12 a share]. Institutional Investor - Past year investor, who is now locked up in the nut house. Profit - An archaic word no longer in use. From Patriotarchives.blogspot.com 10/10/08 show. Link to comment Share on other sites More sharing options...
azazel Posted October 10, 2008 Report Share Posted October 10, 2008 Most moronic thing I have read in two months. Surely I come first with my gold selling event? Link to comment Share on other sites More sharing options...
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