Gold, lost its Glister?

padington

purch wrote: »

We've done that part of the script

How are you taking this Purch ? if you sold that bar last week and bought it back today you could have bought a real bar with the change.

Are you reading this as a major blip in what still is fundamentally a bull market or the defacto start of a bear gold market ?

Shaolin_Monkey

Not a recommendation, but ETFS Physical Gold (PHGP), Gold Bullion Securities (GBSS) or iShares Physical Gold ETC (SGLN) are backed by physical metal and track the gold spot price. They are traded on the London Stock Exchange like a share.

The ETFS Phys Gold and iShares funds are eligible to hold in an ISA.

Generali

HAMISH_MCTAVISH wrote: »

Gold now down to $1349, and a 10% fall just today.

Silver has fallen 12% so far today.

Surely to God there has to be a temporary end to the bloodletting soon, with some support to trigger a short lived rally, but where?

I'm almost starting to feel sorry for the bugs....

Shorts will need to cover their positions to take their profits somewhere, that should stop falls for a bit.

I don't know enough about the gold futures/options markets to say where that might be.

BTW, for those looking to Cyprus for the reason for these price falls, you only have a part of the answer. $400,000,000 is nothing really. Imagine what would happen if the 2,500 tonnes owned by Italy or even the 280 tonnes owned by Spain hit the market.

padington

Generali wrote: »

Shorts will need to cover their positions to take their profits somewhere, that should stop falls for a bit.

I don't know enough about the gold futures/options markets to say where that might be.

BTW, for those looking to Cyprus for the reason for these price falls, you only have a part of the answer. $400,000,000 is nothing really. Imagine what would happen if the 2,500 tonnes owned by Italy or even the 280 tonnes owned by Spain hit the market.

Do you think? it's broke all the important support levels, I would have thought the computers will go mad selling off more.

warehouse

It's my fault, I purchased my first sovereign about 2 weeks ago. I'm unlucky like that .

dealer_wins

Im holding off buying gold until the PE ratio is under 12 and dividend yield is at least 3.5%

neverdespairgirl

Our friend in the following link, wearing a tasteful shirt made out of 7lb of gold, has just seen a rather large wardrobe devaluation:

http://www.bbc.co.uk/news/magazine-21994873

[Deleted User]

i see webuyanygold.com falling by the waste side and 100s more gaps in the high street

Martinslovechild

Not a recommendation but you might also look at ETFs which short the gold price such as the ETFS Commodity Sec Daily Short Gold (SBUL).

grey_gym_sock

Martinslovechild wrote: »

Not a recommendation but you might also look at ETFs which short the gold price

they can't be physically backed, though ... unless they use anti-matter?!