Post new topic Reply to topic  [ 3459 posts ]  Go to page Previous  1 ... 198, 199, 200, 201, 202, 203, 204 ... 231  Next
Author Message
 Post subject: Re: The price of Gold
PostPosted: Fri Jun 01, 2012 3:33 pm 
Offline
Under CAB Investigation

Joined: May 3, 2008
Posts: 2040
Gold went from $1550 to $1620 in just two hours.

http://www.kitco.com/charts/livegold.html

The Dow is down 2% but gold mining shares (HUI Index) are up 5%. The shorts must be getting a good spanking!

_________________
"Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans."- R.H. Tawney, Religion and the Rise of Capitalism, 1926

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.- John Maynard Keynes, Economic Consequences of Peace


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Fri Jun 01, 2012 3:56 pm 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3755
Burst through the 144 day moving average at 1570 and on through 1600 - nice.


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Sat Jun 02, 2012 1:14 am 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3755
TheEmigrant wrote:
the edge wrote:
TheEmigrant wrote:
the edge wrote:
136% 5 year return looks ok to me.

But doesn't that support the view that gold is expensive?


From where I'm sitting it's actually quite cheap.

The fact that there is money printing helps the bullish case. The fact that it is up a large amount in 5 years doesn't.


http://www.zerohedge.com/news/big-reset ... ation-ever

http://www.youtube.com/watch?v=KxidefcsjDc


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Sat Jun 02, 2012 11:59 am 
Offline
Planning Tribunal Attendee

Joined: Oct 19, 2010
Posts: 1044
Location: Dublin SE
So what prompted this price hike?

_________________
"The fact that a believer is happier than a skeptic is no more to the point than the fact that a drunken man is happier than a sober one."
George Bernard Shaw (1856 - 1950)


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Sat Jun 02, 2012 12:16 pm 
Offline
Of Systemic Importance
User avatar

Joined: May 13, 2008
Posts: 6800
Location: Somewhere up in the hills
Terra Incognita wrote:
So what prompted this price hike?
I think it's a renewed interest in Gold as a safe haven particularly with all the major indices looking wobbly. Technically there is a sense that the correction has run it's course and that the support at $1520 proved strong. War drums, bad economic figures and probable QE3 a contributing factor?


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Sat Jun 02, 2012 1:08 pm 
Offline
Too Big to Fail

Joined: Sep 29, 2010
Posts: 4406
Location: London, innit
Terra Incognita wrote:
So what prompted this price hike?

Poor US non farm payrolls (QE more likely) and poor European data too


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Sun Jun 03, 2012 6:17 pm 
Offline
Nationalised
User avatar

Joined: Jul 26, 2009
Posts: 10094
Europe’s debtors must pawn their gold for Eurobond Redemption - Ambrose Evans-Pritchard -> http://www.telegraph.co.uk/finance/fina ... ption.html

Quote:
The German scheme -- known as the European Redemption Pact -- offers a form of "Eurobonds Lite" that can be squared with the German constitution and breaks the political logjam. It is a highly creative way out of the debt crisis, but is not a soft option for Italy, Spain, Portugal, and other states in trouble.

The plan is drafted by the German Council of Economic Experts and inspired by Alexander Hamilton’s Sinking Fund in the United States -- created in 1790 to clean up the morass of debts left by the Revolutionary War. Flourishing Virginia was comparable to Germany today.

there is more

_________________
Some writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness Positively by uniting our affections, the latter negatively by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher. Thomas Paine


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Wed Jun 06, 2012 2:58 pm 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3755
Gold steady above 1635...nice...expect it to reach 1680 in short order.


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Wed Jun 06, 2012 3:10 pm 
Offline
Under CAB Investigation

Joined: May 3, 2008
Posts: 2040
the edge wrote:
Gold steady above 1635...nice...expect it to reach 1680 in short order.


Unless Ben disappoints everyone on June 20th.

_________________
"Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans."- R.H. Tawney, Religion and the Rise of Capitalism, 1926

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.- John Maynard Keynes, Economic Consequences of Peace


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Wed Jun 06, 2012 5:52 pm 
Offline
Under CAB Investigation

Joined: Jul 6, 2006
Posts: 1964
interesting i just saw herr keiser on RT saying hes flying with Hugo Salinas to Athens tomorrow to speak with Irelands only hope about introducing a silver backed drachma

_________________
Join me and together we will rule the galaxy as father and son


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Wed Jun 06, 2012 6:14 pm 
Offline
Under CAB Investigation

Joined: May 3, 2008
Posts: 2040
lord vader wrote:
interesting i just saw herr keiser on RT saying hes flying with Hugo Salinas to Athens tomorrow to speak with Irelands only hope about introducing a silver backed drachma



Back to basics. The Athenian owl was accepted all around the Med for 500 years or so.

http://en.wikipedia.org/wiki/Tetradrachm

Ironicly the greek design on the one euro "coin" is an image of this famous coin. Fiat tokens trying to be what they are not.

_________________
"Bankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans."- R.H. Tawney, Religion and the Rise of Capitalism, 1926

"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.- John Maynard Keynes, Economic Consequences of Peace


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Thu Jun 07, 2012 11:49 pm 
Offline
Planning Tribunal Attendee

Joined: Feb 27, 2007
Posts: 1452
Puck may be Famous wrote:
Gold went from $1550 to $1620 in just two hours.

And back again just as quick.

Puck may be Famous wrote:
the edge wrote:
Gold steady above 1635...nice...expect it to reach 1680 in short order.


Unless Ben disappoints everyone on June 20th.

He didn't have the manners to wait.


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Fri Jun 08, 2012 7:38 am 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3755
Oops..I spoke too soon..oh well not too worry...Helicopter Ben will be back to what he does best soon enough.


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Fri Jun 08, 2012 8:45 am 
Offline
Of Systemic Importance
User avatar

Joined: May 13, 2008
Posts: 6800
Location: Somewhere up in the hills
the edge wrote:
Oops..I spoke too soon..oh well not too worry...
You jinxed it. :P That was looking like a genuine breakout and now it looks like a world of pain.

A Silver Drachma is an interesting idea. I doubt if it would be permitted by the US/EU because it would set a precedent where the early adopters would benefit by defaulting on their debts and undermining Fiat currencies. There was talk a few years back of France pushing for the Euro to be backed by a basket of metals, but nothing seems to have come of that one either.


Top
 Profile  
 
 Post subject: Re: The price of Gold
PostPosted: Fri Jun 08, 2012 9:14 am 
Offline
Planning Tribunal Attendee

Joined: Oct 25, 2011
Posts: 1229
interesting......not a peep out of this thread for two months while Gold is falling from $1750 to $1550......

a small bounce back and its all systems go again.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 3459 posts ]  Go to page Previous  1 ... 198, 199, 200, 201, 202, 203, 204 ... 231  Next


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to: