Gold Through $960!

cloud_dog

Thought I'd post the below, follow the link for full story:

"Silver prices have also been climbing – 55%+ in the last 12 months. Some market watchers believe silver may be ripe for a further, sharp move upward as a large overhang of short positions is now deep underwater. Given the macroeconomic conditions, mark-to-market losses and margin calls, the scent of a massive round of short covering is in the air, and that would send silver prices up on a meteoric rise."

http://www.resourceinvestor.com/pebble.asp?relid=41070

Have to admit to Arian being one of mine (in addition to my CEF holding)

cloud_dog

mr_fishbulb

Ding Ding Ding Ding Ding!
$1000! (futures, not spot)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVD.zoHwS.rE&refer=home

cloud_dog

mr_fishbulb wrote: »

Ding Ding Ding Ding Ding!
$1000! (futures, not spot)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVD.zoHwS.rE&refer=home

The futures bright, the futures................... well ....................... a shiny amber colour :T

purch

This snippet is taken from an article by Arun Motianey of Citi Global Wealth Management Investments.


"Gold's rush: what the rally means"

"It is not loss of confidence in any particular currency that is at issue here; it is the loss of confidence in the standard that underlies the whole system... Fiat money makes the central bank the legally mandated guarantor of stability in an economy. As such, its credibility is the mast to which all economic decisions that involve future payments are tied. There would be trouble if central-bank credibility - specifically, that of the Federal Reserve - was ever called into question. Now we also know the price of gold is rising rapidly. So, similar to the 1970s, today we could be witnessing the gradual loss of confidence in a standard - but this time, it¹s in fiat money."

"Once the long period of disinflation engineered by Paul Volker ended earlier this decade, it was only a matter of time before people realised that they were being bamboozled once again by fiat money."

mr_fishbulb

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

phlash

It smashed through 1000 to 1006 on the Bear Stearns news, as if the pressure hadnt been building. It'll go to 1025 next week sometime on the FED rate cut.

Watch this space.

Gold at $1600 within 2 years on the back of terrible economic news, this credit crunch has just been the tipping point, the house of cards was built over more than a decade.

Grim.

Athletic81

Hi, what brokers have you been using to buy the etf/c`s?

mr_fishbulb

Athletic81 wrote: »

Hi, what brokers have you been using to buy the etf/c`s?

Self Trade

phlash

I spreadbet on gold, silver, ftse, DOW, sometimes currency exchanges on finspreads, then withdraw my GBP profits and buy precious metals with the proceeds to stop my GBP's being inflated away.

freddykrueger

phlash wrote: »

I spreadbet on gold, silver, ftse, DOW, sometimes currency exchanges on finspreads, then withdraw my GBP profits and buy precious metals with the proceeds to stop my GBP's being inflated away.

Where do you buy your precious metals?