Gold Prices Rally on Safe Haven Buying. gold hit a new record of £767

Jonbvn

dopester wrote: »

Adds a bit of charm to the legend that of the legend of the Wizard, and the army said to King Arthur and his 1000 sleeping knights, waiting to decide the fate of a great battle and save England in it's darkest hour of need.

Given that King Arthur was supposedly a Celt, the first thing he would do would be to kick out all you Anglo Saxon and Norman immigrants.;)

DiggerUK

Jonbvn wrote: »

Given that King Arthur was supposedly a Celt, the first thing he would do would be to kick out all you Anglo Saxon and Norman immigrants.;)

I've got nothing against Anglo Saxons or Normans.
Some of my best genes are Anglo Saxon and Norman.

bendix

Oh god, please make it stop. Please. I implore you.

We get it already: Asheron and Mr Digger like gold. We're convinced.

Yoshua

bendix wrote: »

Oh god, please make it stop. Please. I implore you.

We get it already: Asheron and Mr Digger like gold. We're convinced.

If your not interested why are you posting here.

I want to get different opinions about the supply demand fundamentals of silver after I read this article

THE SILVER SHORTAGE WILL COME

By Israel Friedman

(Israel Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.)

Based on the supply and demand situation of silver, it`s only a question of time when a silver shortage will come. Nobody can predict exactly when this is going to happen, but we have more and more signs that those who control the price of silver are sweating to balance the supply.

The biggest question I have is, will the shorts be successful to cover their short position on time? Right now the CFTC seems to want to force all the manipulators to get in line by making them obey new rules of position limits, but I feel that the banks who are the big shorts will be exempt. Mr. Butler thinks that the CFTC will do the right thing, but I am skeptical. We argue about this a lot, as we both have strong opinions.

If the banks will not be forced to cover their short positions, only a true shortage in silver will bring the right price. Be prepared for that to happen. How much will silver be worth in a shortage situation? It`s tricky to calculate, because a real shortage has never happened in silver history. But it is how you must think. My own thoughts go back to what some things cost during and after World War II in Europe. When there is not enough of something is when you see real crazy prices.

So I will give you my calculation. It will be a gradual explosion of prices and slowly the users and the new investors will eat up the world visible silver, which today is around 500 million ounces. In my calculation the first 100 million ounces of visible silver will disappear at a price of $60 to $100 an ounce. The second 100 million ounces will disappear by $250, and the third 100 million ounces will disappear between $250 and the price of gold ounce for ounce.

We will be left with 200 million ounces of silver which the owners will be not taking profits on at any price. The bullion in private hands I calculate will be the first to take profits, but Silver Eagle holders will hold for the long run. I still believe that Silver Eagles will do the best investment-wise and I will not be surprised that at one point the Eagle price will trade much higher than the price of silver in a bubble mania.

I am a fanatic silver believer and what I write is only my private belief. There are not many believers in silver. Just look at CNBC, the newspapers, other media, and gold investors. Hardly ever a good word on silver. Silver for them is a forgotten metal. One day they will be shocked when the shortage of silver will come and the price will go up and then gold will be a forgotten sister. There is more gold in the world than silver, so parity in prices is a must.

I think Ted Butler spoke the truth in a recent speech he gave: “The supply/demand set up in silver, which has evolved over an incredibly long period of time, has been one continuous process promising to culminate in an explosion in price at some point. Quite simply, we are rapidly approaching that defining moment when there just won’t be enough physical material to go around at anything but rapidly escalating prices. Those escalating prices will encourage and drive others, including industrial consumers, to enter what should become a buying frenzy. Superimpose upon that the sudden destruction of a decades-old downward price manipulation and you have all the necessary ingredients for a price event that will be referred to forever.”




http://www.thestreet.com/video/10675...-hit-1500.html

007JUNKY

If any of you are looking to buy gold or have any further interest in it one of the best sites I have found is https://www.mayfairandgrant.com always currently updated to include the price of gold and also offers very good prices on Gold Bars, also available on Twitter http://twitter.com/MayfairandGrant

RDB

007JUNKY wrote: »

If any of you are looking to buy gold or have any further interest in it one of the best sites I have found is www.mayfairandgrant.com always currently updated to include the price of gold and also offers very good prices on Gold Bars, also available on Twitter http://twitter.com/MayfairandGrant

Yeah good prices. But they dont sell silver.

I think gold will go a lot higher, but soon it will get too expensive for most people. Then most people will think that $50 silver has more chance of doubling than £2000 gold.

Also the gold/silver ratio was 80 to 1, its on its way down to its historical long term average of 10 to 1. At the moment its still 65 parts silver to 1 part gold. Soon to be 60 to 1, and then 50 and so on.

Silver is the place to be in my opinion.

nearlynew

Gold is the currency of kings

Silver is the currency of gentlemen

Barter is the currency of peasants

Debt is the currency of slaves

007JUNKY

RDB wrote: »

Yeah good prices. But they dont sell silver.

I think gold will go a lot higher, but soon it will get too expensive for most people. Then most people will think that $50 silver has more chance of doubling than £2000 gold.

Also the gold/silver ratio was 80 to 1, its on its way down to its historical long term average of 10 to 1. At the moment its still 65 parts silver to 1 part gold. Soon to be 60 to 1, and then 50 and so on.

Silver is the place to be in my opinion.

sounds very interesting, i wasnt aware that silver was such a commodity now. I just think with the price of gold constantly going up its a great place to be. Just think 100g is gonna cost you what (well with Mayfair its just over £2800) and in a months time that could be worth alot more, each to their own i guess, silver sounds good but its not worth anything when selling

RDB

007JUNKY wrote: »

sounds very interesting, i wasnt aware that silver was such a commodity now. I just think with the price of gold constantly going up its a great place to be. Just think 100g is gonna cost you what (well with Mayfair its just over £2800) and in a months time that could be worth alot more, each to their own i guess, silver sounds good but its not worth anything when selling

I know silver is cheaper than dirt right now but thats just because the price has been suppressed so much.

If the dirt that the metal mines are digging up and refining into silver, and they are doing it at a loss means silver is cheaper than dirt right now.

But the price suppression is coming to an end, they are being investigated by the CFTC and the Department of justice at the same time.

Then the price of silver will go back up to where it should be.


What do you mean its not worth anything when selling.

You can get around 700 - 800 quid if you sell a 1 kg bar

http://cgi.ebay.co.uk/FINE-SILVER-BAR-1kg-investment-collector-gift-/170128967390?cmd=ViewItem&pt=UK_Coins_Bullion_Bars_SM&hash=item279c7a06de#ht_500wt_956


and this is before the price goes up to match gold.

007JUNKY

are you aware a 1kilo of gold is worth around £27-£28k, thats says it all really