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my local dealer, as are many others, are completely out of krugs. i phoned him today as i noticed their margins on krugs compared to bars were huge so i enquired whether they would swap my krugs for bars and also pay me the cash difference. he nearly bit my hand off. i realise bars are harder to trade, but an ounce is an ounce and it also gives me some extra paper to play with over the festive season. anyone see any problem with this? the bars are pamp suisse

 

Personally, it would have to be a hefty bit of cash coming your way to make the deal seem good. As I'm sure you realise, coins have several advantages (eg. harder to fake) which account for some premium over ingots.

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Encouraging article linked from Jim Sinclair site, via kitco, suggesting a next move up to $3500 and after corrections, a move up to $10,000 long term.

 

http://www.kitco.com/ind/Field/dec022008.html

 

Why quit writing these reports? I have noticed from the emails that I receive that many people are using these reports to guide their trading activities in gold. I have had no objection to this in the past, but feel that it would be foolish to trade gold in the circumstances of the Big Kahuna crisis that we are living though at the moment. It has become a question of individual financial survival in an environment where things are happening more rapidly and with increasing violence. I feel very strongly that it is time to quietly hold onto one’s gold insurance and not attempt to trade it. I do not wish to provide interim levels that may cause people to be encouraged to trade their gold to skim a few extra fiat dollars or other currencies, but lose their gold as a result.

 

 

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I am actually finding the lack of recent cgnao posts somewhat unnerving...

 

Same, been a strange week all in all, not sure my nerves can take this for much longer. What with watching PMs, PMs in $, PMS in £ and £ vs $ and Yen my head feels like it's going to explode.

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Same, been a strange week all in all, not sure my nerves can take this for much longer. What with watching PMs, PMs in $, PMS in £ and £ vs $ and Yen my head feels like it's going to explode.

 

 

Zen out man - take break. Don't try and trade any of this. That's what I and most on here (I assume) are doing. I know its hard not to look, but I am much less troubled now by these big moves than I was. So long as you know you are not trading, whatever happens to the price (for now), there's no need to worry :)

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Same, been a strange week all in all, not sure my nerves can take this for much longer. What with watching PMs, PMs in $, PMS in £ and £ vs $ and Yen my head feels like it's going to explode.

Do you think about the price of dollars? Or the price of pounds? Most people don't because they are currencies which price other things.

 

Think of gold as a currency also and you will cease to worry about the "price" of it. It will also do wonders for your peace of mind. :)

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Do you think about the price of dollars? Or the price of pounds? Most people don't because they are currencies which price other things.

 

Think of gold as a currency also and you will cease to worry about the "price" of it. It will also do wonders for your peace of mind. :)

 

But when you're trying to time a buy - it does matter. (Sometimes a big difference day to day.)

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But when you're trying to time a buy - it does matter. (Sometimes a big difference day to day.)

Yeah... good point. I guess it depends how much you have gone into gold. If you have a large proportion or even most of your cash in gold then it becomes more of a currency in its own right to you and the price in other currencies becomes less significant.

 

Of course, if you are looking to increase your position in gold the price concerns you a lot more. As for timing a buy, I guess there are just two options; either average in or wait for a dip given the current macro situation.

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Are people shorting gold?? :blink:

 

Hard to comprehend that. :lol:

 

cheers for that youtube link the other day btw. :D

 

o/t - anyone seen:

 

Wrongmove or cdswamp ?? iirc, cdswamp said he had to go soon, obviously he wasn't kidding. Shame, I enjoyed his posts although he seemed to p1ss off a fair few posters on here.

 

 

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cheers for that youtube link the other day btw. :D

 

o/t - anyone seen:

 

Wrongmove or cdswamp ?? iirc, cdswamp said he had to go soon, obviously he wasn't kidding. Shame, I enjoyed his posts although he seemed to p1ss off a fair few posters on here.

I'm sure those cats will be back amongst the pidgeons soon. meow coo coo snort.

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Re. Viamat - a question... (I've asked them directly but, emails really aren't their strong point. Last reply I got from them didn't answer question and included a response to another clients storage query - along with item details! :huh:)

 

As Viamat are a member of the LBMA, does that mean that all Viamat storage locations are covered under the LBMA 'chain of integrity' or just some?

 

If bullion is moved, by Viamat, between Viamat's different storage locations (Viamat, Kloten to Viamat, Zurich Airport and back again), would the bullion remain within the LBMA members chain of integrity - and, therefore, would not require re-assaying at any point?

 

Thanks.

Got this response from GM (Ha - they must love me! Keep testing them!)

 

Dear Customer,

 

Thank you for your message.

 

I have been informed by Via Mat International that Via Mat itself is a member of the LBMA no matter where the vault is located, London or Zurich. Therefore, all Via Mat vaults are covered by LBMA membership.

 

Please call Via Mat Zurich directly on 0041 434 889292 should you wish to discuss further.

 

So, if you want to be extra-incognito, you could get Via Mat to shift bullion the 5 miles from Via Mat, Kloten, Zurich to the 'free zone' Via Mat, Zurich Airport and back again, without the LBMA 'chain of integrity' being broken. In other words, you could 'hide' it then have it re-accepted by GM, without any assaying problems.

 

Of course, this would all need confirming by Via Mat... And, unfortunately, you'd need min @400oz gold (a full bar) to do it. Or 30000oz (min' possession at Kloten) of silver (ahh, but GM state they won't, as yet, accept silver). However, this Via Mat situation may be relevant to Comex bars (100oz) too (Note Jim S's recent stuff about shipping to the Via Mat 'free zone' depository at Zurich Airport.

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November US unemployment rate just came out.

 

533,000 nonfarm payroll jobs lost! :o

 

Largest monthly drop since Dec 1974.

 

Unemployment rate has gone from 6.5% to 6.7%

 

This is starting to look very nasty.

 

Edit: Gold, oil, DOW all down.

 

 

Horrific. The helicopter drops can't be far away now, I can hear the rotors turning already.

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I think this may be the start of the next downleg. Sadly it's going to be a downleg for everything. :(

How about a downleg in all currencies? Competitive currency devaluation anyone? :o

 

http://english.aljazeera.net/news/asia-pac...2152176956.html

The US and China could be heading for a possible clash as they open two days of high-level talks in Beijing on Thursday.

 

The biannual talks, known as the Strategic Economic Dialogue, are expected to centre on the value the Chinese currency.

 

Henry Paulson, the US treasury secretary, is under pressure at home to tackle the country's financial woes and is expected to call on Beijing to allow a strengthening of the yuan amid fears that a plunge in its value could destabilise global markets even further

.....

Beijing broke a direct link between its yuan and the dollar in July 2005 and has let its currency rise by about 20 per cent since then.

 

That has hurt Chinese exporters, which are seeing their goods get more expensive in foreign markets just as global demand slows.

....

On Wednesday, Chinese state media made the warning more explicit.

 

"US urged not to harp on currency issue at talks," said a headline in the China Daily

 

.

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Looking on the bright side. The gold/oil ratio is nearing 18:1. Compare that to a few months back when the ratio was 6:1.

Gold is holding up well.

Yeah, I've been wondering whether we need an increase in oil to support gold. Maybe next year but the oncoming global recession does not help.

 

Gold price is going boing-boing at the mo'.

 

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