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How do you say 'got proper gold? in Chinese? (Mandarin or Wu??? - afraid I only speak Yorkshire.)

 

 

 

Man jailed for illegal gold futures operation in east China - http://english.people.com.cn/90001/90776/90882/6798337.html

 

A man in east China's Zhejiang Province was sentenced to 9 years in jail for the crime of illegal gold futures operation involving more than 58 billion yuan (8.49 billion U.S. dollars), a local court ruling said Thursday.

 

It was believed to be the biggest ever case of illegal gold futures dealing.

 

Naughty.

 

So, might the Chinese soon like proper S&G even more?

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GDX: -5.94% today

 

I am so glad that I have been aggressively selling my precious metals share.

 

I own Puts on GDX, and sold some at more than 2x cost

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THE GDX WARNING - Flashing Red !

 

If GDX breaks support at GDX-40 next week, Gold may be in for a big slide

 

xx1v.gif

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If GDX breaks support at GDX-40 next week, Gold may be in for a big slide

 

Excellent. This is exactly what I've been waiting for. Will the slide be mirrored in Sterling? A nice drop to low 900s or even 800s would be great.

 

If the fools want to give me bullion for a lower number of fiat units I can only thank them.

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I'm hoping that this winter gold stocks get beaten into the ground but that gold holds up much better.

 

If so I can sell some gold next spring to get more gold stocks, as they would be relatively cheaper.

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I'm hoping that this winter gold stocks get beaten into the ground but that gold holds up much better.

 

If so I can sell some gold next spring to get more gold stocks, as they would be relatively cheaper.

If we see some credit after-shock, or some such thing to send the market on a dive, I think the post QE floor of 900 should hold.

 

I wouldn't bother selling gold here, but silver is another story. Would ideally like to sell it for gold and dollars should we see another spike up. If the market carries on down, not too concerned as silver will eventually bounce back, and will be a good opportunity to buy further silver with cash reserves.

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I'm hoping that this winter gold stocks get beaten into the ground but that gold holds up much better.

 

If so I can sell some gold next spring to get more gold stocks, as they would be relatively cheaper.

 

I am planning on buying gold miners and a few silver stocks in the next crash. I would have done in last year's crash but couldn't get an online account, and didn't want to pay huge commissions to buy Canadian stocks from the UK.

 

I'll also buy more silver.

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Excellent. This is exactly what I've been waiting for. Will the slide be mirrored in Sterling? A nice drop to low 900s or even 800s would be great.

 

If the fools want to give me bullion for a lower number of fiat units I can only thank them.

 

Yes, it would be nice to see gold in the five hundred pound range once more and another chance to visit the bargain basement again.

 

However, gold has been remarkably resilient recently with more buyers than sellers and I do wonder with the might of Chinese now out in the open we might never see three digit dollar gold again.

 

 

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Yes, it would be nice to see gold in the five hundred pound range once more and another chance to visit the bargain basement again.

 

However, gold has been remarkably resilient recently with more buyers than sellers and I do wonder with the might of Chinese now out in the open we might never see three digit dollar gold again.

You could be right. Whether or not one bought here has to depend on whether they already had a heap.

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I am planning on buying gold miners and a few silver stocks in the next crash. I would have done in last year's crash but couldn't get an online account, and didn't want to pay huge commissions to buy Canadian stocks from the UK.

 

I'll also buy more silver.

I'm just beginning to do background reading on these matters: indexes like the HUI and others and possibly junior stocks.

 

Let's hope we get a great buying opportunity. There are some new indexes including more junior stocks.

 

This is a good intro to the indexes:

Introducing the New Gold & Silver Companies Index (GSCI)

http://www.gold-eagle.com/editorials_08/wilsonl102609.html

 

I'm planning on opening a stock account with Internaxx (Luxembourg) which gives access to Toronto as well many other stock exchanges.

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GDX: -5.94% today

 

To follow on from what I have interjected a few times over the past week or 3, gold is just above the Feb 09 and March 08 all-time highs yet $ is way way down on the early 09 value and around the same as early 08, a few months before it went wildly up.

 

On 5 year chart GLD GLD at Yahoo! comparing early 09 high to this month's all-time high:

 

RSI is down

MACD is down

Slow Stochastics down.

 

Discuss.

 

(BTW, $ rising...)

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To follow on from what I have interjected a few times over the past week or 3, gold is just above the Feb 09 and March 08 all-time highs yet $ is way way down on the early 09 value and around the same as early 08, a few months before it went wildly up.

 

On 5 year chart GLD GLD at Yahoo! comparing early 09 high to this month's all-time high:

 

RSI is down

MACD is down

Slow Stochastics down.

 

Discuss.

 

(BTW, $ rising...)

Fine if you measure it in USD. However, in GBP....

Gold bounced of it's 50DMA (shown blue in weekly chart), the RSI was almost the same value as march highs etc.. It does look very different to me.

I don't doubt gold could be in for a bit of a slide here, but I'd still rather be holding gold than turdling just now.

 

goldgbp.jpg

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What are you inferring here FP?

 

 

That the $ has much more updside potential than Gold here and now

 

Is my understanding correct?

 

If so what's your outlook for GBP in this context? adressed to FB and Dr Bubb. (and everyone else of course)

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Alright. This is the new gold thread for November.

 

Here is the October thread: http://www.greenenergyinvestors.com/index.php?showtopic=7874

 

= = =

Other related links:

====

GF's Long Term Gold ideas :: http://www.greenenergyinvestors.com/index.php?showtopic=7921

GF's Gold Ratio charts ...... :: xx (to be created)

DrB's GDX Warning thread :: http://www.greenenergyinvestors.com/index.php?showtopic=6677

Gold Watch, COT reports.. :: http://www.greenenergyinvestors.com/index.php?showtopic=7266

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Supply and Demand...Got Gold?

 

http://www.marketoracle.co.uk/Article14679.html

 

20091031-chart_c.gif

 

At $1,000 gold, to push China's gold holdings to 5% of reserves would take $55.3 billion; to 10% would cost $144.4 billion; to be the world's top gold dog would run $227.6 billion.

 

Chinese reserves are approaching $2.3 trillion, of which almost 70%, or $1.6 trillion, are denominated in U.S. dollars. The cost to become the world's biggest holder of gold would be a pittance compared to the amount of money China has available. In other words, money is not a problem.

 

Combining the country's massive holdings of dollars and the very real likelihood those dollars are going to lose much of their value, the motivation to buy tangible assets is urgent.

Excellent, thanks.

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Why did gold rise with the dollar January-February? Those three charts above offer a possible answer.

 

The Euro bottomed against the US$ at the same time the crisis in the Hungarian Forint, Czech Krona, and Polish Zloty subsided vs. the Euro.

 

Although we would likely see weakness in gold if the dollar rallies, toss that relationship out the window if there is a currency crisis in Eastern Europe, or Asia. This could be another situation where gold rises with the dollar, as it did in the first quarter this year when the stock market collapsed.

 

Over the longer term, gold's move is a symptom of a flight from fiat currencies and various credit stresses in general, not just the dollar. If you are watching the US$ only, you are watching an incomplete picture. There are significant problems elsewhere.

http://globaleconomicanalysis.blogspot.com...n-european.html

[Posted previously by Wren]

 

Mish is making a timely comment here when all eyes are on the dollar. If the dollar rallies, what will gold do? Though it will no doubt weaken a little, Mish is also suggesting here that gold is a currency in its own right and could easily in turn strengthen alongside the dollar [as a safe haven for capital] as economies and currencies continue to struggle.

 

The way I see it, gold is in the process of monetization and why would you sell a strengthening currency for a weakening one? Silver on the other hand is quite a different story.

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http://globaleconomicanalysis.blogspot.com...n-european.html

[Posted previously by Wren]

 

Mish is making a timely comment here when all eyes are on the dollar. If the dollar rallies, what will gold do? Though it will no doubt weaken a little, Mish is also suggesting here that gold is a currency in its own right and could easily in turn strengthen alongside the dollar [as a safe haven for capital] as economies and currencies continue to struggle.

 

The way I see it, gold is in the process of monetization and why would you sell a strengthening currency for a weakening one? Silver on the other hand is quite a different story.

 

no offence RH but your calls on silver have been a bit out of whack this season; just thought i'd point this out

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To follow on from what I have interjected a few times over the past week or 3, gold is just above the Feb 09 and March 08 all-time highs yet $ is way way down on the early 09 value and around the same as early 08, a few months before it went wildly up.

 

On 5 year chart GLD GLD at Yahoo! comparing early 09 high to this month's all-time high:

 

RSI is down

MACD is down

Slow Stochastics down.

 

Discuss.

 

(BTW, $ rising...)

Many are expecting a dollar rally and with it a gold correction. We could easily see gold go back through 1000 but I doubt even a spike in the dollar will see gold go through 900 [QE effectively put a floor in at 900 imo]. Gold will quickly recover as a safe haven currency and whereas the dollar may benefit initially by a knee-jerk [perhaps forced short covering] reaction in the market, gold will continue its incremental and solid upward move to new highs.

 

Many here have pounds. I imagine they would weaken faster than gold, so in order to take advantage of a possible dip, you would want to first buy dollars or Yen with Sterling. I wouldn't sell gold here, never do.

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no offence RH but your calls on silver have been a bit out of whack this season; just thought i'd point this out

None taken. Silver is in decline now. I sold a little for Yen a while back and though silver spiked up afterwards, it is now back to the level at which I sold in Yen [Yen has strengthened/ silver weakened].

 

I still have a large position in silver, the reason I sold a little was I wanted to raise some cash in case of a big slide in silver. That slide could be developing now... then again it could not... which is why I am hedging.

 

With silver, I do not see it as just a clear cut decision to sell or hold. I have something like 30%in silver and though I suspect silver might decline here would not sell it [i might be wrong]. Rather, I would be buying at lower prices with cash positions... if I am right.

 

This is hedging not trading. The aim is to eventually swap silver [speculative and vulnerable to the market] to gold when the ratio is favorable.

 

[though I had one ear on Hoye, I have always suspected we would see one last wave up in the market/silver before a downturn... we might still see that ..who knows].

 

Yensilver.gif

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