So the decline in Silver well ok The decline in gold now thats interesting.its like a badly acted play with an excellent script. I know there would have to be quite a few gold bugs that frequent this site that are refraining from commenting on SS Your thoughts on the decline in Au at the moment? PM me if you think your views are heretical and you will be burned at the stake. REDBACK
Dreadback, you know how to tickle ones nerve The decline in the paper price of gold is in line with the Bernankebus' plan to cheapen all commodities prior to the next wave of QE. The physical price of Gold will decouple just as silver has. The strong $A will make Gold very cheap over the coming weeks so I am looking to stack bullion as close to spot regularly. The upswing will be violent
Any SD or GP people out there like to add,or are you too busy cleaning up after the floods? :/ REDBACK
About 4 years ago when I became interested in gold I read a commentary that said that it was going to be a rollercoaster ride.I remember that. When gold fell from $1000 to $750 I knew what he meant. If you hold gold,and especially silver,there will be big up and downs. Expect it,and don't be suprised. It will be more extreme in the future. People who manipulate currencies to make big money hate gold.It makes them obvious. They will not give up without a massive fight. Expect shock.
Got fiat burning a hole through my pocket and its spreading to my patience.... but must stick to the plan. Should just be a nice dip until the next QE comes, if GFC2 happens all bets are off.
As already stated the investing in gold will always be a rollercoaster ride. Always has always will be. Regardless of everyone's theories such as manipulation ect the best barometer is the investor's Sentiment of the market. With so much going on in the world personally I can see the ride being more violent than ever before. There will be those that will sell of quickly when the market goes down and those that buy up and ride out the lows until the highs. we all know this. The next year will be a very interesting one for all of us. And lets hope we can all get some of an idea on the best times to buy and sell. At the moment I am sure there are many on here at SS just sitting and waiting to see what will happen. But from my past win and losses I have found that with some idea through research and acting not just watching is the best policy to take. I know all I am stating is the obvious but in times like now a level head is needed.
The price of gold remained remarkably stable for long periods of time. For example, Sir Isaac Newton, as master of the U.K. Mint, set the gold price at L3.17s. 10d. per troy ounce in 1717, and it remained effectively the same for two hundred years until 1914. The only exception was during the Napoleonic wars from 1797 to 1821. The official U.S. Government gold price has changed only four times from 1792 to the present. Starting at $19.75 per troy ounce, raised to $20.67 in 1834, and $35 in 1934. In 1972, the price was raised to $38 and then to $42.22 in 1973. A two-tiered pricing system was created in 1968, and the market price for gold has been free to fluctuate since then as the table below shows. http://www.nma.org/pdf/gold/his_gold_prices.pdf
Reddie, I gave my opinion here: http://forums.silverstackers.com/topic-11056-what-just-happened-to-the-price-of-gold.html and it is the same as hiho's here's my post from the 29 june on my opinions, just want to point out that it is also a seasonal phenomenon, but: QE trashed the value of the dollar causing inflation of commodity prices. QE ends in the next couple of days and some regional reserve banks have indicated that they do not support the introduction of QE3 (http://www.bloomberg.com/news/2011-...-support-further-asset-buying-after-june.html) and http://www.bloomberg.com/news/2011-...ercome-fed-split-on-maintaining-stimulus.html Bubbles Bernanke has said some form of accommodative monetary policy is still required (QE3 under another guise). Commodity prices rose as a direct result of the loss in faith in the USD caused by QE. Keeping inflation under control is bernanke's (publicly stated) chief aim. So what do you do in order to restore faith in the Fed's ability to solve the problem and answer the critic's claims that inflation has already climbed as a direct consequence of QE? Release 60 million barrels of oil in order to bring the price down for a while so that when you introduce QE3 or whatever - it's more palatable to the public. Gold prices rise as faith in fiat declines. The fundamental lack of faith in the USD hasn't changed - yet gold, silver and oil prices have dropped. A typically seasonal drop or a manipulation of the market? http://www.numismaster.com/ta/numis...le&ArticleId=21579&et_mid=509530&rid=18035404 Edited to add another link[/quote] @ aleks, re: burning pockets - we must be wearing the same brand of shorts It will drop a bit further, say down to $1300 USD - then, if my plans for world domination don't go astray, climb to $2000 by end of year. And I'm hoping it climbs and doesn't bounce - but it probably will bounce, bugger.
I'm a gold bug! Investing in Silver is just a way for me to ultimately accumulate more gold! Some people claim that Grease is the word, others say that The Bird is the Word...me, I say that Gold is the word!
I've been enjoying the fruits of gold myself recently. I've accumulated a bit and love its wealth storing properties. My long term idea is also to swap for cashflow properties though. Just wish you could rent it out
I had a hazy idea that this may be related to COMEX (others prefer the term 'CrimMEX') gold futures settlement date on July 15. Can anyone enlighten us about this angle on futures? How about the Dodd-Frank provisions coming into force limiting personal investors from trading over-the-counter paper gold? I'd imagine its small money compared to institutional players but institutionals could be magnifying the sell-side momentum.
There would be a few Golden triangle and Kalgoorlie people that i would love to hear opinions from. REDBACK
As you may know Ag isn't a Gold Bug but I certainly don't think poorly of those intelligent to know something isn't right and invest in intrinsic valued assets. Hiho comments above shares my personal opinion - silvers typical volatility 'hides' come of the manipulation but Gold is less affected. Almost a PH level of 7 meaning neutral. Its recent drop was anything but natural so why? 'next wave of QE' is one reason for sure...perhaps also to detract new blood from dumping paper to physical?...theres more if you start thinking but not going to be Tared with the 'conspiracy nut' anymore than currently...
Some commentator said gold fell because people are going back into risk,i.e.shares. After Greece got bailout.
